Letter Agreement Reducing Minimum Rent Under Amended and Restated Master Lease—Senior Housing Properties Trust and FS Tenant Trusts
Senior Housing Properties Trust and FS Tenant Holding Company Trust/FS Tenant Pool III Trust confirm that, following the sale of Tiffany House on December 31, 2005, the annual minimum rent under their existing master lease is reduced by $526,043.40, effective January 1, 2006. This adjustment reflects the net proceeds from the sale, as required by the lease terms. Both parties have acknowledged and agreed to this rent reduction in writing.
Exhibit 10.44
Senior Housing Properties Trust
400 Centre Street
Newton, MA 02458
March 13, 2006
FS Tenant Holding Company Trust
FS Tenant Pool III Trust
400 Centre Street
Newton, MA 02458
Attention Bruce J. Mackey Jr.
RE: Amended and Restated Master Lease Agreement dated as of January 11, 2002 (as amended, the “Lease”)
Dear Bruce:
The purpose of this letter is to confirm that, pursuant to Section 4.1.1(b) of the Lease, Tiffany House was sold on December 31, 2005. The net proceeds of the sale were $5,260,424.00. Accordingly, effective January 1, 2006, Minimum Rent payable under the Lease shall be reduced by $526,043.40 per annum.
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| Very truly yours, | |||
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| /s/ John R. Hoadley | ||
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| John R. Hoadley | ||
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| Acknowledged and Agreed |
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| FS Tenant Holding Company Trust |
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| FS Tenant Pool III Trust |
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| By: | /s/ Bruce J. Mackey Jr. |
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| Bruce J. Mackey Jr. |
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| Treasurer of each of |
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| the foregoing entities |
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