SUBLEASE AGREEMENTSublease Agreement • October 6th, 2015 • Adcare Health Systems, Inc • Services-skilled nursing care facilities
THIS SUBLEASE AGREEMENT (this “Sublease”) is entered into as of the 1st day of October, 2015 by and between KB HUD MASTER TENANT 2014, LLC, a Georgia limited liability company (“Sublessor”) and C.R. OF AUTUMN BREEZE, LLC, a Georgia limited liability company (“Sublessee”), for the improved real property described on Exhibit “A-1” (the “Premises”), on which Premises is located that certain 109-bed skilled nursing facility located at 1480 Sandtown Road, Marietta, Georgia, including the “Sublessor Personal Property” associated therewith described on Exhibit “A-2” (the Sublessor Personal Property together with the Premises, being collectively the “Facility”). Certain capitalized terms used in this Sublease are defined on Exhibit “B”.
ADCARE HEALTH SYSTEMS, INC. AND SUBSIDIARIES UNAUDITED PRO FORMA CONDENSED CONSOLIDATED FINANCIAL STATEMENTSAdcare Health Systems, Inc • October 6th, 2015 • Services-skilled nursing care facilities
As previously disclosed, a wholly owned subsidiary of the Company (“Autumn Breeze Sublessor”) entered into a sublease agreement on October 1, 2015, pursuant to which the Autumn Breeze Sublessor will lease one skilled nursing facility located in Georgia, to affiliates of C.R. of Autumn Breeze, LLC (the "Autumn Breeze Sublessee"). The sublease agreement became effective on September 30, 2015 and the operations of the facility were transferred to the Autumn Breeze Sublessee.
