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<SEC-DOCUMENT>0001157523-10-001626.txt : 20100317
<SEC-HEADER>0001157523-10-001626.hdr.sgml : 20100317
<ACCEPTANCE-DATETIME>20100317170014
ACCESSION NUMBER:		0001157523-10-001626
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20100317
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20100317
DATE AS OF CHANGE:		20100317

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LTC PROPERTIES INC
		CENTRAL INDEX KEY:			0000887905
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				710720518
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11314
		FILM NUMBER:		10689329

	BUSINESS ADDRESS:	
		STREET 1:		31365 OAK CREST DRIVE
		STREET 2:		SUITE 200
		CITY:			WESTLAKE VILLIAGE
		STATE:			CA
		ZIP:			91361
		BUSINESS PHONE:		805-981-8655

	MAIL ADDRESS:	
		STREET 1:		31365 OAK CREST DRIVE
		STREET 2:		SUITE 200
		CITY:			WESTLAKE VILLIAGE
		STATE:			CA
		ZIP:			91361
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a6218285.htm
<DESCRIPTION>LTC PROPERTIES, INC. 8-K
<TEXT>
<html>
  <head>
    <title></title>
<!--Copyright 2010 Business Wire, a Berkshire Hathaway company.-->
<!--All rights reserved www.businesswire.com-->
  </head>
  <body style="font-size: 10pt; font-family: Times New Roman">
    <hr style="text-align: center; width: 100%; height: 1.0 pt; color: #000000">
    <hr style="text-align: center; width: 100%; height: 1.0 pt; color: #000000">


    <p style="text-align: center">

    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt; font-family: Times New Roman">UNITED STATES</font><br><font style="font-size: 16pt"><b>SECURITIES
      AND EXCHANGE COMMISSION</b></font><br><font style="font-size: 12pt; font-family: Times New Roman">Washington,
      D.C. 20549</font><br><font style="font-family: Times New Roman"><b>______________</b></font><br><br><font style="font-size: 18pt; font-family: Times New Roman"><b>FORM
      8-K</b></font><br><br><font style="font-size: 12pt; font-family: Times New Roman">CURRENT
      REPORT PURSUANT TO SECTION 13 OR 15(D)</font><br><font style="font-size: 12pt; font-family: Times New Roman">OF
      THE SECURITIES EXCHANGE ACT OF 1934</font><br><br><br><font style="font-size: 10pt; font-family: Times New Roman">Date
      of report: March 17, 2010</font><br><font style="font-size: 10pt; font-family: Times New Roman">(Date
      of earliest event reported)</font><br><br><br><br><font style="font-size: 18pt; font-family: Times New Roman"><b>LTC&#160;PROPERTIES,&#160;INC.</b></font><br><font style="font-size: 10pt; font-family: Times New Roman">(Exact
      name of Registrant as specified in its charter)</font><br><br><br>
    </p>
    <div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; font-size: 10pt; width: 100%; font-family: Times New Roman">
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; width: 33%; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Maryland
          </p>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; width: 34%; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            1-11314
          </p>
        </td>
        <td valign="bottom" style="padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; width: 33%; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            71-0720518
          </p>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; width: 33%; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (State or other jurisdiction of
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            incorporation or organization)
          </p>
        </td>
        <td valign="top" style="padding-left: 0.0px; width: 34%; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Commission file number)
          </p>
        </td>
        <td valign="top" style="padding-left: 0.0px; width: 33%; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (I.R.S. Employer
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            Identification No)
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>
      <br>
      <br>

    </p>
    <div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; font-size: 10pt; width: 100%; font-family: Times New Roman">
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            31365 Oak Crest Drive, Suite 200
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            Westlake Village, CA&#160;&#160;91361
          </p>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-size: 10pt; font-family: Times New Roman">(Address
            of principal executive offices)</font>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <br>
      <br>
      <font style="font-size: 10pt; font-family: Times New Roman">(805)
      981-8655</font><font style="font-size: 10pt; font-family: Times New Roman"><br style="font-size: 10pt; font-family: Times New Roman"></font><font style="font-size: 10pt; font-family: Times New Roman">(Registrant&#8217;s
      telephone number, including area code)</font><font style="font-size: 10pt; font-family: Times New Roman"><br style="font-size: 10pt; font-family: Times New Roman"></font><font style="font-size: 10pt; font-family: Times New Roman"><br style="font-size: 10pt; font-family: Times New Roman"></font><font style="font-size: 10pt; font-family: Times New Roman"><br style="font-size: 10pt; font-family: Times New Roman"></font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Times New Roman">Check the
      appropriate box below if the Form 8-K filing is intended to
      simultaneously satisfy the filing obligation of the registrant under any
      of the following provisions (see General Instruction A.2. below):</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font><font style="font-size: 10pt; font-family: Times New Roman">
      Written communications pursuant to Rule 425 under the Securities Act (17
      CFR 230.425)</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font><font style="font-size: 10pt; font-family: Times New Roman">
      Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
      CFR 240.14a-12)</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font><font style="font-size: 10pt; font-family: Times New Roman">
      Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font><font style="font-size: 10pt; font-family: Times New Roman">
      Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c)) </font>
    </p>
    <hr style="height: 1.0 pt; width: 100%; color: #000000; text-align: center">
    <hr style="height: 1.0 pt; width: 100%; color: #000000; text-align: center">


    <p>

    </p>
    <div style="margin-right: 0pt; text-indent: 0pt; margin-bottom: 10pt; margin-left: 0pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="text-align: justify">
      <b>Item 1.01. &#8212; Material Definitive Agreement</b>
    </p>
    <p style="text-align: justify">
      On March 17, 2010, LTC Properties, Inc. (&#8220;LTC&#8221;) announced Bank of
      America, N.A. has signed a $30&#160;million Commitment Amount Increase
      Request that will add Bank of America, N.A. to LTC&#8217;s three-year
      Unsecured Credit Agreement, dated July 17, 2008.&#160;&#160;This additional
      commitment provides LTC a total availability of $110 million under its
      Unsecured Credit Agreement.
    </p>
    <p style="text-align: justify">
      Bank of America, N.A.&#160;&#160;becomes an additional lender under the Unsecured
      Credit Agreement, which currently has Bank of Montreal, Chicago Branch
      as the Administrative Agent, BMO Capital Markets, as Co-Lead Arranger
      and Book Manager, Key Bank National Association as Co-Lead Arranger and
      Syndication Agent, and Raymond James Bank, FSB and Royal Bank of Canada
      as additional lenders.&#160;&#160;
    </p>
    <p style="text-align: justify">
      The Credit Agreement provides a revolving line of credit with no
      scheduled maturities other than the maturity date of July 17, 2011, and
      allows LTC to borrow at the same interest rates applicable to borrowings
      under its prior credit agreement.&#160;&#160;As of March 17, 2010, LTC had $28.5
      million outstanding under the Unsecured Credit Agreement.
    </p>
    <p style="text-align: justify">
      A copy of the Unsecured Credit Agreement, previously filed on July 18,
      2008 as Exhibit 10.1 to the LTC's Current Report on Form 8-K, is
      incorporated by reference herein.
    </p>
    <p style="text-align: justify">
      <b>Item 9.01. &#8212; Financial Statements and Exhibits</b>
    </p>
    <p style="text-align: justify">
      (a) Financial Statements of Business Acquired.
    </p>
    <p style="text-align: justify">
      None.
    </p>
    <p style="text-align: justify">
      (b) Pro Forma Financial Information
    </p>
    <p style="text-align: justify">
      None.
    </p>
    <p style="text-align: justify">
      (d) Exhibits.
    </p>
    <div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; font-size: 10pt; width: 100%; font-family: Times New Roman">
      <tr>
        <td valign="top" style="padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; width: 5%; text-align: left">
          10.1
        </td>
        <td valign="top" style="padding-left: 0.0px; width: 95%; text-align: left">
          Credit Agreement dated as of July 17, 2008 among LTC Properties,
          Inc. and Bank of Montreal, Chicago Branch is the Administrative
          Agent, BMO Capital Markets, is Co-Lead Arranger and Book Manager,
          Key Bank National Association is Co-Lead Arranger and Syndication
          Agent. (incorporated by reference to Exhibit 10.1 to LTC Properties,
          Inc.&#8217;s Current Report on Form 8-K filed July 18, 2008)
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 95%">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; width: 5%; text-align: left">
          10.2
        </td>
        <td valign="top" style="padding-left: 0.0px; width: 95%; text-align: left">
          Commitment Amount Increase Request dated as of March 15, 2010
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 95%">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-right: 0.0px; white-space: nowrap; padding-left: 0.0px; width: 5%; text-align: left">
          99.1
        </td>
        <td valign="top" style="padding-left: 0.0px; width: 95%; text-align: left">
          Press Release issued March 17, 2010.
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-right: 0pt; text-indent: 0pt; margin-bottom: 10pt; margin-left: 0pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="text-align: center">
      <font style="font-size: 10pt; font-family: Times New Roman"><b>SIGNATURE</b></font>
    </p>
    <p style="text-align: left">
      <br>
      <font style="font-size: 10pt; font-family: Times New Roman">Pursuant to
      the requirements of Section 13 or 15(d) of the Securities Exchange Act
      of 1934, the Registrant has duly caused this report to be signed on its
      behalf by the undersigned, hereunto duly authorized.</font>
    </p>
    <p style="text-align: left">
      <br>

    </p>
    <div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; font-size: 10pt; width: 100%; font-family: Times New Roman">
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td colspan="2" valign="top" style="padding-left: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            LTC PROPERTIES, INC.
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td colspan="2" valign="top" style="padding-left: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; width: 5%; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Dated:
          </p>
        </td>
        <td valign="top" style="padding-left: 0.0px; width: 45%; text-align: left">
          March 17, 2010
        </td>
        <td valign="top" style="padding-left: 0.0px; width: 4%; text-align: left">
          By:
        </td>
        <td valign="top" style="padding-left: 0.0px; width: 46%; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>/s/&#160;&#160;WENDY L. SIMPSON</u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="width: 4%">

        </td>
        <td valign="top" style="padding-left: 0.0px; width: 46%; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Wendy L. Simpson
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="width: 4%">

        </td>
        <td valign="top" style="padding-left: 0.0px; width: 46%; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            CEO &amp; President
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
  </body>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>2
<FILENAME>a6218285ex10_2.htm
<DESCRIPTION>EXHIBIT 10.2
<TEXT>
<html>
  <head>
    <title></title>
<!--Copyright 2010 Business Wire, a Berkshire Hathaway company.-->
<!--All rights reserved www.businesswire.com-->
  </head>
  <body style="font-size: 8pt; font-family: Times New Roman">
    <p style="text-align: right">
      <b>EXHIBIT 10.2</b>
    </p>
    <p style="text-align: center">
      <b>COMMITMENT AMOUNT INCREASE REQUEST</b>
    </p>
    <p style="text-align: center">
      March 15, 2010
    </p>
    <div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; font-size: 8pt; width: 100%; font-family: Times New Roman">
      <tr>
        <td valign="top" style="padding-left: 0.0px; width: 5%; text-align: left">
          To:
        </td>
        <td valign="top" style="padding-left: 0.0px; width: 95%; text-align: left">
          Bank of Montreal, Chicago Branch, as Administrative Agent for the
          Lenders parties to the Second Amended and Restated Credit Agreement
          dated as of July 17, 2008 (as extended, renewed, amended or restated
          from time to time, the <i>&#8220;Credit Agreement&#8221;</i>), among
          LTC Properties, Inc., the Guarantors party thereto, the Lenders
          party thereto, and Bank of Montreal, Chicago Branch, as
          Administrative Agent.
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: justify">
      Ladies and Gentlemen:
    </p>
    <p style="text-indent: 60.0px; text-align: justify">
      The undersigned, LTC Properties, Inc. (the <i>&#8220;Borrower&#8221;</i>)
      hereby refers to the Credit Agreement and requests that the
      Administrative Agent consent to an increase in the aggregate Commitments
      (the <i>&#8220;Commitment Amount Increase&#8221;</i>), in accordance
      with Section&#160;1.14 of the Credit Agreement, to be effected by the
      addition of Bank of America, N.A. (the <i>&#8220;New Lender&#8221;</i>)
      as a Lender under the terms of the Credit Agreement.&#160;&#160;Capitalized terms
      used herein without definition shall have the same meanings herein as
      such terms have in the Credit Agreement.
    </p>
    <p style="text-indent: 60.0px; text-align: justify">
      After giving effect to such Commitment Amount Increase, the Revolving
      Credit Commitment of the New Lender shall be $30,000,000.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
    </p>
    <p style="text-indent: 60.0px; text-align: justify">
      1.&#160;The New Lender hereby confirms that it has received a copy of the
      Loan Documents and the exhibits related thereto, together with copies of
      the documents which were required to be delivered under the Credit
      Agreement as a condition to the making of the Loans and other extensions
      of credit thereunder.&#160;&#160;The New Lender acknowledges and agrees that it
      has made and will continue to make, independently and without reliance
      upon the Administrative Agent or any other Lender and based on such
      documents and information as it has deemed appropriate, its own credit
      analysis and decisions relating to the Credit Agreement.&#160;&#160;The New Lender
      further acknowledges and agrees that the Administrative Agent has not
      made any representations or warranties about the credit worthiness of
      the Borrower or any other party to the Credit Agreement or any other
      Loan Document or with respect to the legality, validity, sufficiency or
      enforceability of the Credit Agreement or any other Loan Document or the
      value of any security therefor.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
    </p>
    <p style="text-indent: 60.0px; text-align: justify">
      2. Except as otherwise provided in the Credit Agreement, and subject to
      New Lender&#8217;s receipt of all upfront fees payable to it, effective as of
      the date of acceptance hereof by the Administrative Agent, the New
      Lender (i)&#160;shall be deemed automatically to have become a party to the
      Credit Agreement and have all the rights and obligations of a <i>&#8220;Lender&#8221;</i>
      under the Credit Agreement as if it were an original signatory thereto
      and (ii)&#160;agrees to be bound by the terms and conditions set forth in the
      Credit Agreement as if it were an original signatory thereto.
    </p>
    <div style="margin-right: 0pt; text-indent: 0pt; margin-bottom: 10pt; margin-left: 0pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="text-indent: 60.0px; text-align: justify">
      3.The New Lender shall deliver to the Administrative Agent an
      Administrative Questionnaire.
    </p>
    <p style="text-indent: 60.0px; text-align: justify">
      THIS AGREEMENT SHALL BE DEEMED TO BE A CONTRACTUAL OBLIGATION UNDER, AND
      SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE
      STATE OF NEW YORK.
    </p>
    <p style="text-indent: 60.0px; text-align: justify">
      The Commitment Amount Increase shall be effective when the executed
      consent of the Administrative Agent is received or otherwise in
      accordance with Section&#160;1.14 of the Credit Agreement, but not in any
      case prior to March&#160;15,&#160;2010.&#160;&#160;It shall be a condition to the
      effectiveness of the Commitment Amount Increase that all expenses
      referred to in Section&#160;1.14 of the Credit Agreement shall have been paid.
    </p>
    <p style="text-indent: 60.0px; text-align: justify">
      The Borrower hereby certifies that no Default or Event of Default has
      occurred and is continuing.
    </p>
    <p style="text-align: center">
      [SIGNATURE PAGE FOLLOWS]
    </p>
    <div style="margin-right: 0pt; text-indent: 0pt; margin-bottom: 10pt; margin-left: 0pt; width: 100%">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="font-size: 8pt; text-align: center; font-family: Times New Roman">
          -2-
        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="text-indent: 60.0px; text-align: justify">
      Please indicate the Administrative Agent&#8217;s consent to such Commitment
      Amount Increase by signing the enclosed copy of this letter in the space
      provided below.
    </p>
    <p style="text-indent: 60.0px; text-align: justify">

    </p>
    <div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; font-size: 8pt; width: 100%; font-family: Times New Roman">
      <tr>
        <td style="width: 50%">
          &#160;
        </td>
        <td valign="top" style="padding-left: 0.0px; width: 50%; text-align: left">
          Very truly yours,
        </td>
      </tr>
      <tr>
        <td style="width: 50%">

        </td>
        <td style="width: 50%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 50%">

        </td>
        <td valign="top" style="padding-left: 0.0px; width: 50%; text-align: left">
          LTC PROPERTIES, INC.
        </td>
      </tr>
      <tr>
        <td style="width: 50%">

        </td>
        <td style="width: 50%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 50%">

        </td>
        <td valign="top" style="padding-left: 0.0px; width: 50%; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>By /s/ Wendy Simpson</u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 50%">

        </td>
        <td valign="top" style="padding-left: 10.0px; width: 50%; text-align: left">
          Name: Wendy Simpson
        </td>
      </tr>
      <tr>
        <td style="width: 50%">

        </td>
        <td valign="top" style="padding-left: 10.0px; width: 50%; text-align: left">
          Title: CEO &amp; President
        </td>
      </tr>
      <tr>
        <td style="width: 50%">

        </td>
        <td style="width: 50%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 50%">

        </td>
        <td valign="top" style="padding-left: 0.0px; width: 50%; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>By /s/ Pamela Shelley-Kessler</u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 50%">

        </td>
        <td valign="top" style="padding-left: 10.0px; width: 50%; text-align: left">
          Name: Pamela Shelley-Kessler
        </td>
      </tr>
      <tr>
        <td style="width: 50%">

        </td>
        <td valign="top" style="padding-left: 10.0px; width: 50%; text-align: left">
          Title: SVP &amp; Chief Financial Officer
        </td>
      </tr>
      <tr>
        <td style="width: 50%">

        </td>
        <td style="width: 50%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 50%">

        </td>
        <td valign="top" style="padding-left: 0.0px; width: 50%; text-align: left">
          BANK OF AMERICA, N.A.
        </td>
      </tr>
      <tr>
        <td style="width: 50%">

        </td>
        <td style="width: 50%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 50%">

        </td>
        <td valign="top" style="padding-left: 0.0px; width: 50%; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>By /s/ Amie L. Edwards</u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 50%">

        </td>
        <td valign="top" style="padding-left: 10.0px; width: 50%; text-align: left">
          Name: Amie L. Edwards
        </td>
      </tr>
      <tr>
        <td style="width: 50%">

        </td>
        <td valign="top" style="padding-left: 10.0px; width: 50%; text-align: left">
          Title Sr. Vice President
        </td>
      </tr>
    </table>
    </div>
    <p style="margin-right: 300.0px">
      The undersigned hereby consents on this 15th day of March,&#160;2010 to the
      above-requested Commitment Amount Increase.
    </p>
    <p>
      BANK OF MONTREAL,<br>as Administrative Agent
    </p>
    <div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; font-size: 8pt; width: 100%; font-family: Times New Roman">
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>By /s/ Mark W. Piekos</u>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 10.0px; text-align: left">
          Name: Mark W. Piekos
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 10.0px; text-align: left">
          Title: Managing Director
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      [SIGNATURE PAGE TO COMMITMENT AMOUNT INCREASE AGREEMENT]
    </p>
    <p>

    </p>
    <p>

    </p>
    <p style="text-indent: 60.0px; text-align: justify">

    </p>
    <p style="text-align: left">

    </p>
    <p style="text-align: left">

    </p>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>a6218285ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
  <head>
    <title></title>
<!--Copyright 2010 Business Wire, a Berkshire Hathaway company.-->
<!--All rights reserved www.businesswire.com-->
  </head>
  <body style="font-size: 8pt; font-family: Times New Roman">
    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt; font-family: Times New Roman"><b>LTC
      Announces Increase to Unsecured Credit Agreement</b></font>
    </p>
    <p>
      WESTLAKE VILLAGE, Calif.--(BUSINESS WIRE)--March 17, 2010--LTC
      Properties, Inc. (NYSE:LTC) announced that Bank of America, N.A. has
      signed a $30&#160;million Commitment Amount Increase Request that will add
      Bank of America, N.A. to LTC&#8217;s three-year Unsecured Credit Agreement,
      dated July 17, 2008. This additional commitment provides LTC a total
      availability of $110 million under its Unsecured Credit Agreement.
    </p>
    <p>
      Bank of America, N.A. becomes an additional lender under the Unsecured
      Credit Agreement, which currently has Bank of Montreal, Chicago Branch
      as the Administrative Agent, BMO Capital Markets, as Co-Lead Arranger
      and Book Manager, Key Bank National Association as Co-Lead Arranger and
      Syndication Agent, and Raymond James Bank, FSB and Royal Bank of Canada
      as additional lenders.
    </p>
    <p>
      The Credit Agreement provides a revolving line of credit with no
      scheduled maturities other than the maturity date of July 17, 2011, and
      allows LTC to borrow at the same interest rates applicable to borrowings
      under its prior credit agreement. As of March 17, 2010, LTC had $28.5
      million outstanding under the Unsecured Credit Agreement.
    </p>
    <p>
      The Company is a self-administered real estate investment trust that
      primarily invests in long-term care and other health care related
      facilities through mortgage loans, facility lease transactions and other
      investments. For more information on LTC Properties, Inc., visit the
      Company&#8217;s website at <u>www.ltcproperties.com</u>.
    </p>
    <p>
      This press release includes statements that are not purely historical
      and are &#8220;forward looking statements&#8221; within the meaning of Section 27A
      of the Securities Act of 1933, as amended, and Section 21E of the
      Securities Exchange Act of 1934, as amended, including statements
      regarding the Company&#8217;s expectations, beliefs, intentions or strategies
      regarding the future. All statements other than historical facts
      contained in this press release are forward looking statements. These
      forward looking statements involve a number of risks and uncertainties.
      All forward looking statements included in this press release are based
      on information available to the Company on the date hereof, and the
      Company assumes no obligation to update such forward looking statements.
      Although the Company&#8217;s management believes that the assumptions and
      expectations reflected in such forward looking statements are
      reasonable, no assurance can be given that such expectations will prove
      to have been correct. The actual results achieved by the Company may
      differ materially from any forward looking statements due to the risks
      and uncertainties of such statements.
    </p>
    <p>

    </p>
    <p>
      CONTACT:<br>LTC Properties, Inc.<br>Wendy L. Simpson, CEO &amp; President<br>Pam
      Kessler, SVP &amp; CFO<br>(805) 981-8655
    </p>
    <p>

    </p>
  </body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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