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EXHIBIT D <br /> GROUND LEASE TERM SHEET <br /> 1. Property [depends on Phasing] <br /> Title in improvements to vest in Lessee <br /> during term of Lease <br /> 2. Term 55 years or such longer term as required by <br /> lenders and investor <br /> 3. Transfer of possession Lessee shall take possession upon close of <br /> construction financing <br /> 4. Rent Nominal yearly ground lease payment of$1 <br /> 5. Use Property may be used for rental housing to <br /> which 49% of all units other than two <br /> Management Units are restricted to seniors <br /> earning between 30% and 60% of Area <br /> Median Income <br /> 6. Taxes All taxes paid by Lessee. Lessor will <br /> cooperate as necessary to allow Lessee to <br /> obtain property tax exemption <br /> 7. Insurance Customary and reasonable insurance to be <br /> maintained by Lessee <br /> 8. Utilities Lessee responsible for all utility expenses. <br /> Lessor shall provide utility connections to <br /> Property <br /> 9. Encumbrances Leasehold interest may be encumbered with <br /> project financing without prior consent of <br /> Lessor <br /> 10. Default provisions Lessee shall have 120 days to cure defaults, <br /> or additional time if unable to cure in that <br /> time period and cure has commenced <br /> D-1 <br /> 191\52\1242198 13 <br />