Freddie Mac Loan No.: 002680246
EXCEPTIONS TO NON-RECOURSE GUARANTY
This Exceptions to Non-Recourse Guaranty ("GUARANTY") is entered into as of May 20, 1999, by the
undersigned person(s) (the "GUARANTOR" whether one or more), for the benefit of GMAC COMMERCIAL
MORTGAGE CORPORATION, a California corporation, and/or any subsequent holder of the Note (the
A. SUNRISE HAVERFORD ASSISTED LIVING, L.L.C., a Pennsylvania limited liability company (the
"BORROWER") has requested that Lender make a loan to Borrower in the amount of $8,850,000.00 (the
"LOAN"). The Loan will be evidenced by a Multifamily Note from Borrower to Lender dated as of the date of
this Guaranty (the "NOTE"). The Note will be secured by a Multifamily Mortgage, Deed of Trust, or Deed to
Secure Debt dated the same date as the Note (the "SECURITY INSTRUMENT"), encumbering the real
property described in the Security Instrument (the "PROPERTY").
B. As a condition to making the Loan to Borrower, Lender requires that the Guarantor execute this Guaranty.
NOW, THEREFORE, in order to induce Lender to make the Loan to Borrower, and in consideration thereof,
Guarantor agrees as follows:
1. "Indebtedness" and other capitalized terms used but not defined in this Guaranty shall have the meanings
assigned to them in the Security Instrument.
2. Guarantor hereby absolutely, unconditionally and irrevocably guarantees to Lender the full and prompt
payment when due, whether at maturity or earlier, by reason of acceleration or otherwise, and at all times
thereafter, and the full and prompt performance when due, of all of the following:
(a) All amounts for which Borrower is personally liable under Paragraphs 9(c) through 9(f) of the Note.
(b) The payment and performance of all of Borrower's obligations under Section 18 of the Security Instrument.
EXCEPTIONS TO NON-RECOURSE GUARANTY PAGE 1
(FREDDIE MAC) -- MULTISTATE
(c) The entire Indebtedness, in the event that (i) Borrower voluntarily f