EX-5 2 l10655aexv5.txt EX-5 OPINION OF SHUMAKER, LOOP & KENDRICK, LLP EXHIBIT 5 December 1, 2004 George L. Chapman Chairman of the Board and Chief Executive Officer Health Care REIT, Inc. One SeaGate, Suite 1500 Toledo, Ohio 43604 Re: Registration Statement on Form S-8 for the Health Care REIT, Inc. Stock Plan for Non-Employee Directors Dear Mr. Chapman: We have acted as counsel to Health Care REIT, Inc. (the "Company") in connection with the preparation and filing of its Registration Statement on Form S-8 with the Securities and Exchange Commission pursuant to the requirements of the Securities Act of 1933, as amended, for the registration of an aggregate of 344,000 shares of common stock of the Company, par value $1.00 per share (the "Shares"), issuable to eligible directors of the Company upon the exercise of stock options or as restricted stock awards granted under the Company's Stock Plan for Non-Employee Directors (the "Plan"). In connection with the following opinion, we have examined and have relied upon such documents, records, certificates, statements and instruments as we have deemed necessary and appropriate to render the opinion herein set forth. Based upon the foregoing, it is our opinion that the Shares issued and sold to eligible directors pursuant to valid exercises of stock options granted under the Plan, as well as the Shares issued as restricted stock awards in a manner consistent with the terms of the Plan, will be legally and validly issued, fully paid and nonassessable. The undersigned hereby consents to the filing of this opinion as Exhibit 5 to the Registration Statement. Very truly yours, SHUMAKER, LOOP & KENDRICK, LLP