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<br />GROUND LEASE <br /> <br />THIS GROUND LEASE ("Lease"), is entered into effective as of , 2005, by <br />and between the City of Pleasant on, a municipal corporation (the "Lessor") and BLP Partnership, <br />Inc., a California nonprofit public benefit corporation (the "Lessee"). <br /> <br />RECITALS <br /> <br />A The Lessee will develop, own and operate an Assisted Living facility of <br />approximately one hundred five (105) units, including accommodations for approximately thirty- <br />one (31) low income Residents, located in the City of Pleasanton, California defined as the <br />"Improvements" for a period of fifty-five (55) years pursuant to the terms of the Lease. <br /> <br />B. The Improvements may be financed through one or more altemative construction <br />and permanent lenders 'and insured or guaranteed by a credit enhancement provider. <br /> <br />C. The Lessor desires to lease the land upon which the Improvements will be <br />constructed for a period of fifty-five (55) years pursuant to the tenus of the Lease. <br /> <br />NOW, THEREFORE, in consideration of the promises and the respective covenants and <br />agreements contained in this Lease, the Parties agree as folloWS: <br /> <br />ARTICLE 1: nFFINITTON~ <br /> <br />1.1 npfinitinn~ <br /> <br />(a) "Assisted Living" shall mean the provision of certain basic services <br />established by the State of California's licensing requirements for Residential Care Facilities for <br />the Elderly pursuant to California Health and Safety Code Section 1569 et seq. and its <br />implementing regulations, as such services may be modified during the Term of this Agreement. <br />Assisted Living services shall generally include three meals per day, housekeeping services, <br />linen services, assistance with daily living such as dressing, bathing and grooming, medication <br />management, 24-hour staffing, emergency call system, health monitoring, coordinated activities <br />to encourage socialization and transportation services. <br /> <br />(b) "Assisted Living Laws" shall mean California Health and Safety Code <br />Section 1569 et seq.. and its implementing regulations or, in the event Califomia Health and <br />Safety Code Section 1569 is repealed, state law applicable to facilities that are comparable to <br />Residential Care Facilities to the Elderly. <br /> <br />(c) "Authorized Officers" shall mean, in the case of the Lessor, the City <br />Manager, or Acting City Manager, or his or her designee, and in the case of the Lessee, the <br />President or any officer. <br /> <br />144\105\153233.23 <br /> <br />2 <br />