0001047469-06-000977 Sample Contracts

LIMITED LIABILITY COMPANY AGREEMENT OF VENTAS SPECIALTY I, LLC
Limited Liability Company Agreement • January 27th, 2006 • ElderTrust Operating Limited Partnership • Real estate investment trusts • Delaware

This Limited Liability Company Agreement (the “Agreement”) of Ventas Specialty I, LLC, (the “Company”), is entered into by and among Ventas Specialty I, Inc., a Delaware corporation and a wholly-owned subsidiary of Ventas, Inc., (“Member”) as the sole equity member of the Company and Dwight Jenkins, as Springing Member (as defined on Schedule A hereto). Capitalized terms used and not otherwise defined herein have the meanings set forth on Schedule A hereto.

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SUPPLEMENTAL INDENTURE
Supplemental Indenture • January 27th, 2006 • ElderTrust Operating Limited Partnership • Real estate investment trusts • New York

SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of December 21, 2005, by and among Ventas Finance I, Inc., a Delaware corporation, Ventas Finance I, LLC, a Delaware limited liability company, Ventas Specialty I, Inc., a Delaware corporation, and Ventas Specialty I, LLC, a Delaware limited liability company (each, a “Guaranteeing Subsidiary” and collectively, the “Guaranteeing Subsidiaries”), Ventas Realty, Limited Partnership, a Delaware limited partnership, and Ventas Capital Corporation, a Delaware corporation (collectively, the “Issuers”), the other Guarantors (as defined in the Indenture referred to herein) and U.S. Bank National Association, as trustee under the Indenture referred to herein (the “Trustee”).

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