2026-003083

Y a N
A?‘lérlTl’rle Klamath County, Oregon

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04/08/2026 01:50:02 PM
Fee: $107.00

M

After recording please return to:
Polsinelli PC

Brandon C. Pond, esq.

2825 E. Cottonwood Parkway, Suite 500
Salt Lake City, UT 84121

MEMORANDUM OF LEASE

Between

2437 KANE, LLC,
a Delaware limited liability company
(as Landlord)

and

KLAMATH FALLS AL, LLC,
a Delaware limited liability company
(as Tenant)

Dated as of

March 26,2026

109498946.1

MEMORANDUM OF LEASE

THIS MEMORANDUM OF LEASE (this “Memorandum”) is entered into as of
March 26, 2026, by and between 2437 KANE, LLC, a Delaware limited liability company
(“Landlord”), and KLAMATH FALLS AL, LLC, a Delaware limited liability company
(“Tenant™). . ‘

WITNESSETH:

WHEREAS, Landlord and Tenant have entered into that certain Lease Agreement dated as
of September 30, 2024 and made effective September 30, 2024, (the “Lease™), pursuant to which
Landlord has leased to Tenant certain land known as 2437 Kane Street, Klamath Falls, OR, being
more particularly described on Exhibit A attached hereto and incorporated herein by this reference
(the “Land”), together will all buildings, structures, fixtures, equipment and other improvements
located on the Land, including the 36 unit senior living community (collectively, the “Leased

Property™); and

WHEREAS, Landlord and Tenant desire to enter into this Memorandum to give notice of
the Lease, and all of its terms, covenants, restrictions and conditions, to the same extent as if the
Lease were fully set forth herein.

NOW, THEREFORE, for good and valuable consideration, including the rents reserved
and the covenants and conditions more particularly set forth in the Lease, Landlord and Tenant do
hereby agree as follows:

1. Capitalized Terms. For purposes hereof, all capitalized terms used but not defined
in this Memorandum shall have the meaning ascribed to them in the Lease.

2. Grant and Term. (a) Pursuant to the Lease, Landlord has leased, demised and let to
Tenant, and Tenant has leased and taken from Landlord, the Leased Property for an initial period
of ten (10) years (the “Term”) running from September 30, 2024, unless earlier terminated as
provided in the Lease.

(b) Pursuant to the Lease, Tenant has two (2) successive options to extend the
Term, each for a period of five (5) years.

3. Miscellaneous. All parties are hereby directed to the Lease for further agreements
between Landlord and Tenant. In the event of any inconsistency between the Lease and this
Memorandum, the Lease shall control. Nothing herein shall be deemed to amend or modify in any
way the terms or provisions of the Lease. This Memorandum shall be governed by and construed
under the laws of the state in which the Leased Property is located. This Memorandum may not be
modified in any manner or terminated except by an instrument in writing executed by the parties
hereto. This Memorandum may be executed in multiple counterparts, each of which shall be
deemed an original and all of which shall constitute one and the same instrument.

IN WITNESS WHEREOF, the parties hereto have executed this Memorandum effective
as of the Effective Date.

[Signature Page to Follow]

109498946.1

LANDLORD:

2437 KANE, LLC,
a Delaware limited liability company

By: KL2 Partners, LLC, a Delaware limited liability
company, its Manager

By:
Name: Thomas Lally Q
Title: Manager

STATE OF NEW YORK )

) ) ss.:
COUNTY OF Zé%,z_)
&

On the? day ofWin the year Zogébefore me, the undersigned, a notary
public in and for said state, personally appeared Thomas Lally, personally known to me or proved
to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the
within instrument and acknowledged to me that he executed the same in his capacity, and that by
his signature on the instrument, the individual, or the person upon behalf of which the individual
acted, executed the instrument.

» . Notary Public W
SUSAN GEEYARGHESE NOTARY PUBLIC, STATE OF NEW YORK|.

 "NO: 02GEG181103 .
QUALIFIED IN RICHMOND COUNTY:
MY COMMISSION EXPIRES JANUARY 22, 2028

[Signature Page to Memorandum of Lease — Landlord /]

109498946.1

TENANT:

KLAMATH FALLS AL, LLC,
a Delaware limited liability company

By: HPP OPCO Manager, Inc., a Delaware
corporation, its Manager

By:
Name: Thomas Lally
Title: Vice President

STATE OF NEW YORK )

Do)
COUNTY OF
&
On the/? day of M in the year ZOEbefore me, the undersigned, a notary

public in and for said state, personally appeared Thomas Lally, personally known to me or proved
to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the
within instrument and acknowledged to me that he executed the same in his capacity, and that by
his signature on the instrument, the individual, or the person upon behalf of which the individual

acted, executed the instrument.

Notary Public \ZV/)

—SUSAN GEEVARGHESE
Nom.s? EUBLIC. STATE OF:NEW YORK|{
s °2£5%’§JNT83¢0UNTY
, £D HVOR NTY
MQ?@OL&B']&.@N EXPIRES JANUARY 22, 2028

[Notary Page to Memorandum of Lease — Tenant]

109498946.1

EXHIBIT A

Leased Property

Tracts 14 and 17 KIELSMEIER ACRE TRACTS, according to the official plat thereof on file in
the office of the County Clerk, Klamath County, Oregon.

109498946.1