-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 Hax6Q6yGJl3AQ6KuobP2VIQDfe8+9W2OHITPm45mGtICxROh1WSM/s9aMXlHFESL
 AEDI8BDLAjs1XOqOroDUBg==

<SEC-DOCUMENT>0001104659-09-006437.txt : 20090204
<SEC-HEADER>0001104659-09-006437.hdr.sgml : 20090204
<ACCEPTANCE-DATETIME>20090204170938
ACCESSION NUMBER:		0001104659-09-006437
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20090204
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20090204
DATE AS OF CHANGE:		20090204

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SENIOR HOUSING PROPERTIES TRUST
		CENTRAL INDEX KEY:			0001075415
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				043445278
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-15319
		FILM NUMBER:		09569063

	BUSINESS ADDRESS:	
		STREET 1:		400 CENTRE STREET
		CITY:			NEWTON
		STATE:			MA
		ZIP:			02458
		BUSINESS PHONE:		6173323990
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a09-2842_48k.htm
<DESCRIPTION>8-K
<TEXT>

<html>

<head>





</head>

<body lang="EN-US">

<div style="font-family:Times New Roman;">

<div style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:solid windowtext 3.0pt;padding:1.0pt 0in 1.0pt 0in;">

<p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>

</div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">UNITED STATES</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">SECURITIES
AND EXCHANGE COMMISSION</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">WASHINGTON, D.C. 20549</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">FORM&nbsp;8-K</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">CURRENT
REPORT PURSUANT</font></b><font size="3" style="font-size:12.0pt;"><br>
<b>TO SECTION&nbsp;13 OR 15(d)&nbsp;OF THE</b></font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">SECURITIES
EXCHANGE ACT OF 1934</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date of Report
(Date of earliest event reported): <b>February&nbsp;4,
2009 (February&nbsp;4, 2009)</b></font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">SENIOR
HOUSING PROPERTIES TRUST</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Exact Name of Registrant as Specified in Its
Charter)</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Maryland</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(State or Other Jurisdiction of
Incorporation)</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p align="center" style="font-size:10.0pt;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">00</font></b><b>1-15319</b></p>
  </td>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">04-3445278</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Commission File Number)</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(IRS Employer Identification No.)</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">400 Centre Street, Newton, Massachusetts</font></b></p>
  </td>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">02458</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Address of Principal Executive Offices)</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Zip Code)</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">617-796-8350</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Registrant&#146;s
Telephone Number, Including Area Code)</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Check the appropriate box below if the Form&nbsp;8-K
filing is intended to simultaneously satisfy the filing obligation of the
registrant under any of the following provisions:</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .25in;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font>&#160;&#160;&#160; Written communications pursuant to Rule&nbsp;425
under the Securities Act (17 CFR 230.425)</p>

<p style="margin:0in 0in .0001pt .25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .25in;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font>&#160;&#160;&#160; Soliciting material pursuant to Rule&nbsp;14a-12
under the Exchange Act (17 CFR 240.14a-12)</p>

<p style="margin:0in 0in .0001pt .25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .25in;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font>&#160;&#160;&#160; Pre-commencement communications pursuant to Rule&nbsp;14d-2(b)&nbsp;under
the Exchange Act (17 CFR 240.14d-2(b))</p>

<p style="margin:0in 0in .0001pt .25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .25in;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font>&#160;&#160;&#160; Pre-commencement communications pursuant to Rule&nbsp;13e-4(c)&nbsp;under
the Exchange Act (17 CFR 240.13e-4(c))</p>

<p style="margin:0in 0in .0001pt .25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<div style="border-bottom:solid windowtext 3.0pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;padding:1.0pt 0in 1.0pt 0in;">

<p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>

</div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\105830\09-2842-4\task3335172\2842-4-ba.htm',USER='105830',CD='Feb  5 02:49 2009' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 8.01&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Other
Events.</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On </font><font size="2" face="Times New Roman" style="font-size:10.0pt;">February&nbsp;4,
2009</font><font size="2" face="Times New Roman" style="font-size:10.0pt;">, Senior Housing
Properties Trust, or the Company, priced an underwritten public offering of 5,500,000</font><font size="2" face="Times New Roman" style="font-size:10.0pt;">
</font><font size="2" face="Times New Roman" style="font-size:10.0pt;">common shares of
beneficial interest.&#160; The Company expects
to issue and deliver these shares on or about </font><font size="2" face="Times New Roman" style="font-size:10.0pt;">February&nbsp;9,
2009</font><font size="2" face="Times New Roman" style="font-size:10.0pt;">.&#160; The public offering price was $17.30 per
share.&#160; The Company expects to use the $90.94
million of net proceeds of the offering (after estimated expenses and
underwriters&#146; commissions) for the repayment of borrowings outstanding under
the Company&#146;s revolving credit facility and for general business purposes,
including funding pending or possible future acquisitions of properties.&#160; The Company also granted the underwriters an
option to purchase an additional 825,000</font><font size="2" face="Times New Roman" style="font-size:10.0pt;">
</font><font size="2" face="Times New Roman" style="font-size:10.0pt;">common shares to cover
over-allotments, if any.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A prospectus supplement relating to these common shares will be filed
with the Securities and Exchange Commission.&#160;
This Current Report on Form&nbsp;8-K shall not constitute an offer to
sell or the solicitation of an offer to buy nor shall there be any sale of
these securities in any state in which such offer, solicitation or sale would
be unlawful prior to registration of qualification under the securities laws of
any such state.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">WARNING CONCERNING FORWARD LOOKING STATEMENTS</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">THIS REPORT CONTAINS STATEMENTS WHICH
CONSTITUTE FORWARD LOOKING STATEMENTS WITHIN THE MEANING OF THE PRIVATE
SECURITIES LITIGATION REFORM&nbsp;ACT OF 1995 AND OTHER FEDERAL SECURITIES
LAWS, INCLUDING WITH RESPECT TO THE COMPANY&#146;S ISSUANCE OF THE COMMON SHARES
(INCLUDING THE OVER-ALLOTMENT OPTION) AND ITS INTENDED USE OF THE PROCEEDS.&#160; THESE FORWARD LOOKING STATEMENTS ARE BASED
UPON OUR PRESENT INTENT, BELIEFS OR EXPECTATIONS, BUT FORWARD LOOKING
STATEMENTS ARE NOT GUARANTEED TO OCCUR AND MAY&nbsp;NOT OCCUR.&nbsp; ACTUAL
RESULTS MAY&nbsp;DIFFER MATERIALLY FROM THOSE CONTAINED IN OR IMPLIED BY OUR
FORWARD LOOKING STATEMENTS AS A RESULT OF VARIOUS FACTORS.&#160; YOU SHOULD NOT PLACE UNDUE RELIANCE UPON
FORWARD LOOKING STATEMENTS.</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 9.01&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Financial
Statements and Exhibits</font></b>.</p>

<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.76%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(d)</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="94%" valign="top" style="padding:0in 0in 0in 0in;width:94.02%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibits</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.76%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="94%" valign="top" style="padding:0in 0in 0in 0in;width:94.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.76%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.1</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="94%" valign="top" style="padding:0in 0in 0in 0in;width:94.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">Underwriting Agreement, dated as of February&nbsp;4, 2009</font>,
  between the Company and the underwriters named therein relating to the
  issuance and sale of up to 6,325,000 of the Company&#146;s common shares of
  beneficial interest.</font></p>
  </td>
 </tr>
 <tr>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.76%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.1</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="94%" valign="top" style="padding:0in 0in 0in 0in;width:94.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Opinion of Venable LLP.</font></p>
  </td>
 </tr>
 <tr>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.76%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8.1</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="94%" valign="top" style="padding:0in 0in 0in 0in;width:94.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Opinion of Sullivan&nbsp;&amp; Worcester LLP as to tax matters.</font></p>
  </td>
 </tr>
 <tr>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.76%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23.1</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="94%" valign="top" style="padding:0in 0in 0in 0in;width:94.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Consent of Venable LLP (contained in Exhibit&nbsp;5.1).</font></p>
  </td>
 </tr>
 <tr>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.76%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23.2</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.22%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="94%" valign="top" style="padding:0in 0in 0in 0in;width:94.02%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Consent of Sullivan&nbsp;&amp; Worcester LLP (contained in
  Exhibit&nbsp;8.1).</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='2',FILE='C:\JMS\105830\09-2842-4\task3335172\2842-4-ba.htm',USER='105830',CD='Feb  5 02:49 2009' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SIGNATURES</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant to the requirements 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="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="50%" valign="bottom" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SENIOR
  HOUSING PROPERTIES TRUST</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="bottom" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="bottom" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="bottom" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.92%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="46%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:46.08%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Richard A. Doyle</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="bottom" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.92%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:6.9%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>
  </td>
  <td width="39%" valign="top" style="border:none;border-top:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:39.16%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Richard A. Doyle</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="bottom" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.92%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.9%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>
  </td>
  <td width="39%" valign="top" style="padding:0in 0in 0in 0in;width:39.16%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Treasurer and Chief Financial<br>
  Officer</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date: February&nbsp;4, 2009</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='3',FILE='C:\JMS\105830\09-2842-4\task3335172\2842-4-ba.htm',USER='105830',CD='Feb  5 02:49 2009' -->


</body>

</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-1.1
<SEQUENCE>2
<FILENAME>a09-2842_4ex1d1.htm
<DESCRIPTION>EX-1.1
<TEXT>

<html>

<head>





</head>

<body lang="EN-US">

<div>

<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 1.1</font></b></p>

<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SENIOR HOUSING PROPERTIES TRUST</font></u></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="33%" valign="top" style="padding:0in 0in 0in 0in;width:33.34%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="38%" valign="top" style="padding:0in 0in 0in 0in;width:38.58%;">
  <p style="margin:0in 0in .0001pt 40.3pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5,500,000 Shares
  of Beneficial Interest<br>
  (par value $0.01 per share)</font></p>
  </td>
  <td width="28%" valign="top" style="padding:0in 0in 0in 0in;width:28.08%;">
  <p style="margin:0in 0in .0001pt 50.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">UNDERWRITING AGREEMENT</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">February&nbsp;4,
2009</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\105686\09-2842-4\task3334669\2842-4-kc-01.htm',USER='105686',CD='Feb  4 23:39 2009' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">UNDERWRITING AGREEMENT</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">February&nbsp;4, 2009</font></p>

<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">UBS Securities LLC<br>
</font>Citigroup Global Markets Inc.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Morgan
Stanley&nbsp;&amp; Co. Incorporated</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Wachovia
Capital Markets, LLC</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">RBC
Capital Markets Corporation</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Robert
W. Baird&nbsp;&amp; Co. Incorporated</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Janney
Montgomery Scott LLC</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Morgan
Keegan&nbsp;&amp; Company,&nbsp;Inc.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Oppenheimer&nbsp;&amp;
Co. Inc.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.25in;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">As Managing Underwriters</font></i></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">c/o
UBS Securities LLC</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">299
Park Avenue<br>
New York, New York 10171</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">c/o
Citigroup Global Markets Inc.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">388
Greenwich Street</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">New
York, New York 10013</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">c/o
Morgan Stanley&nbsp;&amp; Co. Incorporated</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1585
Broadway</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">New York, New York 10036</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Ladies
and Gentlemen:</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">Senior Housing Properties Trust, a real
estate investment trust organized under the laws of the State of Maryland (the &#147;Company&#148;),
proposes to issue and sell to the underwriters named in Schedule&nbsp;A annexed
hereto (the &#147;Underwriters&#148;) an aggregate of 5,500,000 common shares (the &#147;Firm
Shares&#148;) of beneficial interest, par value $0.01 per share (the &#147;Common Shares&#148;)
of the Company</font>.&#160; </font>In addition, solely for the purpose of
covering over-allotments, the Company proposes to grant to the Underwriters the
option to purchase up to an additional 825,000 Common Shares (the &#147;Additional
Shares&#148;).&nbsp; The Firm Shares and the Additional Shares are hereinafter
collectively sometimes referred to as the &#147;Shares.&#148; The Shares are
described in the Prospectus which is referred to below.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Company has prepared and filed </font>with the Securities and Exchange Commission
(the &#147;Commission&#148;), in accordance with the provisions of the Securities Act of 1933, as amended, and the rules&nbsp;and
regulations of the Commission thereunder (collectively, the &#147;Act&#148;), a
registration statement (File No.&nbsp;333-135716) on Form&nbsp;S-3 under the
Act (the &#147;shelf registration
statement&#148;), including a prospectus relating to, among other things, Common Shares, preferred shares of beneficial
interest, depository </p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>

<div style="margin:0in 0in .0001pt;text-indent:0in;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='2',FILE='C:\JMS\105686\09-2842-4\task3334669\2842-4-kc-01.htm',USER='105686',CD='Feb  4 23:39 2009' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">shares, guarantees, debt
securities and warrants for such securities of the Company, </font>and such
amendments to such registration statement, as may have been required prior to
the date hereof, have been similarly prepared and have been filed with the
Commission.&#160; Such </font>shelf registration statement, as so
amended, and any post-effective amendments thereto, have become effective under
the Act.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Company will next file with the Commission pursuant to Rule&nbsp;424(b)&nbsp;under
the Act a final prospectus supplement to the basic prospectus included in the
shelf registration statement, as so amended, describing the Shares and the
offering thereof, in such form as has been provided to or discussed with, and
approved by, the Underwriters.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Except where the context otherwise requires, the term &#147;Registration
Statement&#148; as used in this Agreement means the shelf registration statement, as
amended at the time it became effective for purposes of Section&nbsp;11 of the
Act, as such section applies to the respective Underwriters (the &#147;Effective
Time&#148;), including (i)&nbsp;all documents filed as part thereof or incorporated
by reference or deemed to be incorporated by reference therein and (ii)&nbsp;any
information contained or incorporated by reference in a prospectus filed with
the Commission pursuant to Rule&nbsp;424(b)&nbsp;under the Act, to the extent
such information is deemed, pursuant to Rule&nbsp;430B or Rule&nbsp;430C under
the Act, to be part of the registration statement at the Effective Time.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Except where the context otherwise requires, the term &#147;Basic Prospectus&#148;
as used in this Agreement means the prospectus dated July&nbsp;12, 2006, as
filed with the Commission pursuant to Rule&nbsp;424(b)&nbsp;and included in the
</font>shelf registration
statement.&#160; Except where the context
otherwise requires, the term &#147;Prepricing Prospectus&#148; as used in this Agreement
means each preliminary form of the Prospectus (as defined herein) subject to
completion, if any, used in connection with the offering of the Shares.&#160; Except where the context otherwise requires,
the term &#147;Prospectus Supplement&#148; as used in this Agreement means any final
prospectus supplement specifically relating to the Shares, in the form filed
with, or transmitted for filing to, the Commission pursuant to Rule&nbsp;424
under the Act.&#160; Except where the context
otherwise requires, the term &#147;Prospectus&#148; as used in this Agreement means the
Basic Prospectus together with the Prospectus Supplement, except that if such
Basic Prospectus is amended or supplemented on or prior to the date on which
the Prospectus Supplement was first filed pursuant to Rule&nbsp;424, the term &#147;Prospectus&#148;
shall refer to the Basic Prospectus as so amended or supplemented and as
supplemented by the Prospectus Supplement.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;Permitted Free Writing Prospectuses,&#148; as used herein, means the
documents listed on Schedule B attached hereto and each &#147;road show&#148; (as defined
in Rule&nbsp;433 under the Act), if any, related to the offering of the Shares
contemplated hereby that is a &#147;written communication&#148; (as defined in Rule&nbsp;405
under the Act).</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;Disclosure Package,&#148; as used herein, means the Basic Prospectus,
including without limitation the documents incorporated by reference therein as
of the time this agreement is entered into, together with any Prepricing
Prospectus and any combination of one or more of the Permitted Free Writing
Prospectuses, if any.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>

<div style="margin:0in 0in .0001pt;text-indent:0in;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='3',FILE='C:\JMS\105686\09-2842-4\task3334669\2842-4-kc-01.htm',USER='105686',CD='Feb  4 23:39 2009' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Any reference in this Agreement to the </font>shelf registration statement, the
Registration Statement, the Basic Prospectus, any Prepricing Prospectus, any
Prospectus Supplement, the Prospectus or any Permitted Free Writing Prospectus
shall be deemed to refer to and include the documents incorporated by reference
therein, in each case as amended (as amended, the &#147;Incorporated Documents&#148;),
including, unless the context otherwise requires, the documents, if any, filed
as exhibits to such Incorporated Documents.&#160;
Any reference in this Agreement to the term &#147;amend,&#148; &#147;amendment&#148; or &#147;supplement&#148;
with respect to the shelf registration
statement, the Registration Statement, the Basic Prospectus, any Prepricing
Prospectus, any Prospectus Supplement, any Prospectus or any Permitted Free
Writing Prospectus shall be deemed to refer to and include any documents filed
under the Securities Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;), on
or after the initial effective date of the Registration Statement, or the date
of such Basic Prospectus, such Prepricing Prospectus, the Prospectus
Supplement, the Prospectus or such Permitted Free Writing Prospectus, as the
case may be, and deemed to be incorporated therein by reference.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Company and the Underwriters agree as follows:</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 style="font-size:10.0pt;font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Sale and
Purchase</u>.&#160; Upon the basis of the
representations and warranties and subject to the terms and conditions herein
set forth, the Company agrees to issue and sell to each Underwriter, and, upon
the basis of the representations, warranties and agreements of the Company
herein contained and subject to all the terms and conditions set forth herein,
each Underwriter agrees, severally and not jointly, to purchase from the
Company the number of Firm Shares set forth opposite the name of such
Underwriter in Schedule A attached hereto (subject to adjustment in accordance
with Section&nbsp;9 hereof) at a purchase price of $16.58</font> per share (the &#147;Purchase Price Per
Share&#148;).</h1>

<h1 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h1>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Company is advised by you that the Underwriters intend (i)&nbsp;to
make a public offering of their respective portions of the Firm Shares as soon
after the date hereof as in your judgment is advisable and (ii)&nbsp;initially
to offer the Firm Shares upon the terms set forth in the Prospectus.&#160; You may from time to time increase or
decrease the public offering price after the initial public offering to such
extent as you may determine.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In addition, the Company hereby grants to the
several Underwriters the option to purchase, and upon the basis of the
representations, warranties and agreements of the Company and subject to all
the terms and conditions herein set forth, the Underwriters shall have the
right to purchase, severally and not jointly, from the Company, ratably in
accordance with the number of Firm Shares to be purchased by each of them
(subject to such adjustment as you shall determine to avoid fractional shares),
all or a portion of the Additional Shares as may be necessary to cover
over-allotments made in connection with the offering of the Firm Shares, at the
Purchase Price Per Share.&nbsp; This option may be exercised by you on behalf
of the several Underwriters at any time on or before the thirtieth day
following the date hereof, by written notice to the Company.&nbsp; Such notice
shall set forth the aggregate number of Additional Shares as to which the
option is being exercised, and the date and time when the Additional Shares are
to be delivered (such date and time being herein referred to as the &#147;additional
time of </font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p>

<div style="margin:0in 0in .0001pt;text-indent:0in;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='4',FILE='C:\JMS\105686\09-2842-4\task3334669\2842-4-kc-01.htm',USER='105686',CD='Feb  4 23:39 2009' -->


<br clear="all" style="page-break-before:always;">


<div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">purchase&#148;); <u>provided</u>,
<u>however</u>, that the additional time of purchase shall not be earlier than
the time of purchase (as defined below) nor earlier than the second business
day after the date on which the option shall have been exercised nor later than
the tenth business day after the date on which the option shall have been
exercised.&nbsp; The number of Additional Shares to be sold to each Underwriter
shall be the number which bears the same proportion to the aggregate number of
Additional Shares being purchased as the number of Firm Shares set forth
opposite the name of such Underwriter on Schedule&nbsp;A hereto bears to the
total number of Firm Shares (subject, in each case, to such adjustment as you
may determine to eliminate fractional shares).</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">As used herein, &#147;business day&#148; shall mean a day on which the New York
Stock Exchange (the &#147;NYSE&#148;) is open for trading.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Payment and
Delivery</u>.&#160; Payment of the purchase
price for the Firm Shares shall be made to the Company by Federal Funds wire
transfer, against delivery of the Firm Shares to you through the facilities of
the Depository Trust Company (&#147;DTC&#148;) for the respective accounts of the
Underwriters.&#160; Such payment and delivery
shall be made at 10:00&nbsp;A.M., New York City time, on February&nbsp;9, 2009
(unless another time shall be agreed to by you or unless postponed in
accordance with the provisions of Section&nbsp;9 hereof).&#160; The time at which such payment and delivery
are actually made is hereinafter sometimes called the &#147;time of purchase.&#148;&#160; Certificates, if any, for the Firm Shares
shall be delivered to you in definitive form in such names and in such
denominations as you shall specify no later than the second business day
preceding the time of purchase.&#160; For the
purpose of expediting the checking of the certificates for the Firm Shares by
you, the Company agrees to make such certificates available to you for such
purpose at least one full business day preceding the time of purchase.</font></h1>

<h1 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h1>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Payment of the purchase
price for the Additional Shares shall be made at the additional time of
purchase in the same manner and at the same office as the payment for the Firm
Shares.&nbsp; Certificates, if any, for the Additional Shares shall be
delivered to you in definitive form in such names and in such denominations as
you shall specify no later than the second business day preceding the
additional time of purchase.&nbsp; For the purpose of expediting the checking
of the certificates for the Additional Shares by you, the Company agrees to
make such certificates available to you for such purpose at least one full
business day preceding the additional time of purchase.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Deliveries of the documents described in Section&nbsp;7 hereof with
respect to the purchase of the Shares shall be made at 9:00&nbsp;A.M. at such
location(s)&nbsp;as shall be agreed upon by you and the Company on the date of
the closing of the purchase of the Firm Shares or the Additional Shares, as the
case may be.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Representations
and Warranties of the Company</u>.&#160; The
Company represents and warrants to and agrees with each of the Underwriters
that:</font></h1>

<h1 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h1>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; no order preventing
or suspending the use of the Basic Prospectus, any Prepricing Prospectus, the
Prospectus Supplement, the Prospectus or any Permitted Free Writing Prospectus
is in effect and no proceedings for such purpose are pending or,</font></h2>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='5',FILE='C:\JMS\105686\09-2842-4\task3334669\2842-4-kc-01.htm',USER='105686',CD='Feb  4 23:39 2009' -->


<br clear="all" style="page-break-before:always;">


<div>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">to the knowledge
of the Company, threatened by the Commission or the securities authority of any
state or other jurisdiction.&#160; The
Registration Statement has become effective under the Act; no stop order
suspending the effectiveness of the Registration Statement is in effect, and no
proceedings for such purpose are pending before or, to the knowledge of the
Company, threatened by the Commission or the securities authority of any state
or other jurisdiction;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (i)&nbsp;the Company
is eligible to use Form&nbsp;S-3 and the offering of the Shares complies and
will comply with the requirements of Rule&nbsp;415 under the Act including,
without limitation, Rule&nbsp;415(a)(5); (ii)&nbsp;each part of the
Registration Statement, when it became effective, complied, or with respect to
any part of the Registration Statement that has not yet become effective, will
comply at the time of effectiveness, and as of the date hereof and, as amended
or supplemented, at the time of purchase and at all times during which a
prospectus is required by the Act to be delivered (whether physically or
through compliance with Rule&nbsp;172 under the Act or any similar rule) in
connection with any sale of Shares, will comply, in all material respects, with
applicable requirements of the Act and the Exchange Act; (iii)&nbsp;each part
of the Registration Statement did not, as of the Effective Time, contain any
untrue statement of a material fact or omit to state a material fact required
to be stated therein or necessary to make the statements therein not
misleading; (iv)&nbsp;each Prepricing Prospectus, if any, complied, at the time
it was filed with the Commission, and complies as of the date hereof, in all
material respects with the requirements of the Act; (v)&nbsp;the Disclosure
Package, as of the time of execution of this Agreement, did not include an
untrue statement of a material fact or omit to state a material fact necessary
in order to make the statements therein, in the light of the circumstances
under which they were made, not misleading; (vi)&nbsp;the Basic Prospectus
complied or will comply, at the time it was or will be filed with the
Commission, in all material respects with the requirements of the Act; (vii)&nbsp;each
of the Prospectus Supplement and the Prospectus will comply, as of the date
that it is filed with the Commission, the date of the Prospectus Supplement,
the time of purchase and at all times during which a prospectus is required by
the Act to be delivered (whether physically or through compliance with Rule&nbsp;172
under the Act or any similar rule) in connection with any sale of Shares, in
all material respects, with the requirements of the Act (in the case of the
Prospectus, including, without limitation, Section&nbsp;10(a)&nbsp;of the Act);
(viii)&nbsp;at no time during the period that begins on the earlier of the date
of the Prospectus Supplement and the date the Prospectus Supplement is filed
with the Commission and ends at the later of the time of purchase and the end
of the period during which a prospectus is required by the Act to be delivered
(whether physically or through compliance with Rule&nbsp;172 under the Act or
any similar rule) in connection with any sale of Shares did or will any
Prospectus Supplement or the Prospectus, as then amended or supplemented,
include an untrue statement of a material fact or omit to state a material fact
necessary in order to make the statements therein, in the light of the
circumstances under which they were made, not misleading; (ix)&nbsp;at no time
during the period that begins on the date of such Permitted Free Writing
Prospectus and continues through the time of the filing of the Prospectus with
the Commission did or will any Permitted Free Writing Prospectus include an
untrue statement of a material fact or omit to state a material fact necessary
in order to make the statements therein, in the light of the circumstances
under which they were made, not misleading, except that the representations and
warranties set</font></h2>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='6',FILE='C:\JMS\105686\09-2842-4\task3334669\2842-4-kc-01.htm',USER='105686',CD='Feb  4 23:39 2009' -->


<br clear="all" style="page-break-before:always;">


<div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">forth in this
paragraph (b)&nbsp;do not apply to statements or omissions in the Registration
Statement, the Basic Prospectus, any Prepricing Prospectus, the Prospectus
Supplement, the Prospectus or any Permitted Free Writing Prospectus based upon
information relating to any Underwriter furnished to the Company by such
Underwriter through you expressly for use therein;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (i)&nbsp;the Company
has not, directly or indirectly, distributed and will not distribute any
offering material in connection with the offering or sale of the Shares other
than the Basic Prospectus, any Prepricing Prospectus, the Permitted Free
Writing Prospectuses, if any, and the Prospectus; (ii)&nbsp;the Company has
not, directly or indirectly, prepared, used or referred to any Permitted Free
Writing Prospectus except in compliance with Rule&nbsp;163 or with Rules&nbsp;164
and 433 under the Act; (iii)&nbsp;assuming that such Permitted Free Writing
Prospectus is so sent or given after the Registration Statement was filed with
the Commission (and after such Permitted Free Writing Prospectus was, if
required pursuant to Rule&nbsp;433(d)&nbsp;under the Act, filed with the
Commission), the sending or giving, by any Underwriter, of any Permitted Free
Writing Prospectus will satisfy the provisions of Rule&nbsp;164 or Rule&nbsp;433
(without reliance on subsections (b), (c)&nbsp;and (d)&nbsp;of Rule&nbsp;164), (iv)&nbsp;the
conditions set forth in one or more of subclauses (i)&nbsp;through (iv),
inclusive, of Rule&nbsp;433(b)(1)&nbsp;under the Act are satisfied, (v)&nbsp;the
Prepricing Prospectus is a prospectus that, other than by reason of Rule&nbsp;433
or Rule&nbsp;431 under the Act, satisfies the requirements of Section&nbsp;10
of the Act, (vi)&nbsp;neither the Company nor the Underwriters are
disqualified, by reason of subsection (f)&nbsp;or (g)&nbsp;of Rule&nbsp;164
under the Act, from using, in connection with the offer and sale of the Shares,
&#147;free writing prospectuses&#148; (as defined in Rule&nbsp;405 under the Act)
pursuant to Rules&nbsp;164 and 433 under the Act, (vii)&nbsp;the Company is not
an &#147;ineligible issuer&#148; (as defined in Rule&nbsp;405 under the Act) as of the
eligibility determination date for purposes of Rules&nbsp;164 and 433 under the
Act with respect to the offering of the Shares contemplated by the Registration
Statement, (viii)&nbsp;the parties hereto agree and understand that the content
of any and all &#147;road shows&#148; (as defined in Rule&nbsp;433 under the Act) related
to the offering of the Shares contemplated hereby is solely the property of the
Company;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the Incorporated
Documents, when they were filed with the Commission, complied in all material
respects with the requirements of the Exchange Act, and none of such documents,
when they were filed with the Commission, contained an untrue statement of a
material fact or omitted to state a material fact necessary to make the
statements therein not misleading; and any further documents so filed and
incorporated by reference in (i)&nbsp;the Registration Statement, when such
documents are filed with the Commission, will conform in all material respects
to the requirements of the Exchange Act, as applicable, and will not contain an
untrue statement of a material fact or omit to state a material fact necessary
to make the statements therein not misleading, and (ii)&nbsp;any Prepricing
Prospectus, the Prospectus or any Permitted Free Writing Prospectus, when such
documents are filed with the Commission, will conform in all material respects
to the requirements of the Exchange Act, as applicable, and will not contain an
untrue statement of a material fact or omit to state a material fact necessary
to make the statements therein, in the light of the circumstances in which they
were made, not misleading;</font></h2>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='7',FILE='C:\JMS\105686\09-2842-4\task3334669\2842-4-kc-01.htm',USER='105686',CD='Feb  4 23:39 2009' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the Company has, and
as of the time of purchase the Company will have, an authorized capitalization
as set forth in the Registration Statement, any Prepricing Prospectus and the
Prospectus (and any similar information, if any, contained in any Permitted
Free Writing Prospectus); as of the date of this Agreement the Company has an
outstanding capitalization as set forth in the Registration Statement, any
Prepricing Prospectus and the Prospectus and as of the time of purchase there
shall not have been any changes since the date of this Agreement in the Company&#146;s
outstanding capitalization, except for differences which are not material; all
of the issued and outstanding Common Shares of the Company have been duly and
validly authorized and issued and are fully paid and non-assessable, have been
issued in compliance with all federal and state securities laws and were not
issued in violation of any preemptive or similar right;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the Company has
been duly formed and is validly existing as a real estate investment trust in
good standing under the laws of the State of Maryland, with trust power to own,
lease and operate its properties and conduct its business as described in the
Registration Statement, the Prepricing Prospectus, the Prospectus and the
Permitted Free Writing Prospectuses, if any, and to execute and deliver this
Agreement and to issue, sell and deliver the Shares as contemplated herein;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(g)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the Company is duly
qualified and is in good standing in each jurisdiction in which the ownership
or leasing of its properties or the conduct of its business requires such
qualification, except where the failure to so qualify in any such jurisdiction
would not individually or in the aggregate have a material adverse effect on
the business, prospects, properties, condition (financial or otherwise) or
results of operations of the Company and the Subsidiaries (as defined herein),
taken as a whole (a &#147;Material Adverse Effect&#148;);</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(h)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the Company does not
own, directly or indirectly, any shares of stock or any other equity or
long-term debt of any other corporation or have any direct or indirect equity
interest or ownership of long-term debt in any firm, partnership, joint
venture, limited liability company, association or other entity except for (i)&nbsp;the
Company&#146;s subsidiaries (as defined in the Act) (the &#147;Subsidiaries&#148;) and (ii)&nbsp;the
Company&#146;s ownership of 1,000,000 common shares of HRPT Properties Trust and
35,000 common shares of Five Star Quality Care,&nbsp;Inc.&#160; The Subsidiaries identified in Schedule C
attached hereto (each, a &#147;Significant Subsidiary&#148;) are the only Subsidiaries of
the Company that are significant subsidiaries (as such term is defined by Rule&nbsp;1-02(w)&nbsp;of
Regulation S-X) of the Company.&#160; Each
Significant Subsidiary has been duly incorporated or formed and is validly
existing as a corporation or other entity, as the case may be, in good standing
under the laws of the jurisdiction of its incorporation or organization, with
the requisite corporate, trust, partnership or other power to acquire and own,
lease and operate its properties and to conduct its business, as described in
the Registration Statement, the Prepricing Prospectus, the Prospectus and the
Permitted Free Writing Prospectuses, if any; and each Significant Subsidiary is
duly qualified and in good standing to do business in each jurisdiction in
which the nature of its business or the ownership or leasing of the property
requires such qualification, except where the failure to be so qualified would
not individually or in the aggregate have a Material Adverse</font></h2>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='8',FILE='C:\JMS\105686\09-2842-4\task3334669\2842-4-kc-01.htm',USER='105686',CD='Feb  4 23:39 2009' -->


<br clear="all" style="page-break-before:always;">


<div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Effect.&#160; Each of the Significant Subsidiaries is duly
qualified and in good standing to do business in the jurisdictions set forth
below the name of such Significant Subsidiary on Schedule D hereto, such
jurisdictions being the only jurisdictions in which the nature of its business
or the ownership or leasing of the property requires such qualification, except
where the failure to be so qualified would not individually or in the aggregate
have a Material Adverse Effect.&#160; Each
Subsidiary that is not a Significant Subsidiary has been duly incorporated or
formed and is validly existing as a corporation or other entity, as the case
may be, in good standing under the laws of the jurisdiction of its
incorporation or organization, with the requisite corporate, trust, partnership
or other power to acquire and own, lease and operate its properties and to conduct
its business, as described in the Registration Statement, the Prepricing
Prospectus, the Prospectus and the Permitted Free Writing Prospectuses, if any;
and each Subsidiary that is not a Significant Subsidiary is duly qualified and
in good standing to do business in each jurisdiction in which the nature of its
business or the ownership or leasing of the property requires such
qualification, except where the failure to be so qualified would not
individually or in the aggregate have a Material Adverse Effect;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; this Agreement has
been duly authorized, executed and delivered by the Company;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(j)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the shares of
beneficial interest of the Company, including the Shares, conform in all
material respects to each description thereof, if any, included or incorporated
by reference in the Registration Statement, any Prepricing Prospectus, the
Prospectus or any Permitted Free Writing Prospectus.&#160; The certificates, if any, evidencing the
Shares are in due and proper form and conform in all material respects to the
requirements of the laws relating to Maryland real estate investment trusts (&#147;Maryland
REIT Law&#148;);</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(k)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the Shares have been
duly and validly authorized and, when issued and delivered against payment
therefore as provided herein, will be duly and validly issued, fully paid and
non-assessable and free of any preemptive or similar rights;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(l)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; except as otherwise
described in the Registration Statement, each Disclosure Package and the
Prospectus, neither the Company nor any of the Subsidiaries is in breach or violation
of, or in default under (and no event has occurred which with notice, lapse of
time, or both would result in any breach or violation of, or constitute a
default under), (i)&nbsp;its Declaration of Trust, charter or by-laws or other
organizational documents, (ii)&nbsp;any obligation, agreement, covenant or
condition contained in any indenture, mortgage, deed of trust, loan agreement
or other agreement or instrument to which the Company or any Subsidiary is
subject or by which any of them or any of their properties is bound or affected
or (iii)&nbsp;any order, rule&nbsp;or regulation of any court or governmental
agency or body having jurisdiction over the Company or any of its or its
Subsidiaries&#146; properties, except, in the case of clauses (ii)&nbsp;and (iii),
for those breaches, violations or defaults which, individually or in the
aggregate, would not have a Material Adverse Effect;</font></h2>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='9',FILE='C:\JMS\105686\09-2842-4\task3334669\2842-4-kc-01.htm',USER='105686',CD='Feb  4 23:39 2009' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 style="font-size:10.0pt;font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(m)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>the issuance by the Company of the Shares, the
compliance by the Company with all of the provisions of this Agreement, the
execution, delivery and performance by the Company of this Agreement, and the
consummation of the transactions contemplated herein (including, without limitation, the application of the net proceeds of
the offering by the Company as described in the Prospectus) will not
conflict with or result in a breach or violation of any of the terms or
provisions of, or constitute a default under, or result in the creation or
imposition of any lien, charge or encumbrance upon the Shares or any property
or assets of the Company pursuant to (i)&nbsp;the provisions of the Declaration
of Trust or the bylaws of the Company or any Subsidiary or any of the Company&#146;s
or any Subsidiary&#146;s other organizational documents, (ii)&nbsp;any indenture,
mortgage, deed of trust, loan agreement or other agreement or instrument to
which the Company or any Subsidiary is a party or by which the Company or any
Subsidiary is bound or to which any of the property or assets of the Company or
any Subsidiary is subject, or (iii)&nbsp;any applicable laws or any order, rule&nbsp;or
regulation of any court or governmental agency or body having jurisdiction over
the Company or any of its or its Subsidiaries&#146; properties, other than, in the
case of clause (ii), as would not, individually or in the aggregate, have a
Material Adverse Effect or a material adverse effect on the ability of the
Company to consummate the transactions contemplated hereby;</h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-size:10.0pt;font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(n)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; no approval,
authorization, consent or order of or filing with any federal, state or local
or foreign governmental or regulatory commission, board, body, authority or
agency or with the NYSE, or approval of the shareholders of the Company, is
required in connection with the </font>issuance and sale of the Shares or the consummation by the
Company of the transactions as contemplated hereby (including, without limitation, the application of the net proceeds of
the offering by the Company as described in the Prepricing Prospectus and the
Prospectus), other than registration of the Shares under the Act, which
has been effected, and any necessary qualification under the securities or blue
sky laws of the various jurisdictions in which the Shares are being offered by
the Underwriters;</h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(o)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; no person has the
right, contractual or otherwise, to cause the Company to issue to it, or
register pursuant to the Act, any shares of beneficial interest or other equity
interests.&#160; No person has preemptive
rights, co-sale rights, rights of first refusal or other rights to purchase any
Common Shares.&#160; No person has the right, contractual
or otherwise, to cause the Company to register under the Act any shares of
beneficial interest or other equity interests as a result of the filing or
effectiveness of the Registration Statement or the sale of Shares contemplated
thereby, except for such rights as have been complied with or waived;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(p)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Ernst&nbsp;&amp;
Young LLP, whose report on the consolidated financial statements of the Company
and the Subsidiaries was filed with the Commission as part of the Company&#146;s
Annual Report on Form&nbsp;10-K for the fiscal year ended December&nbsp;31,
2007 and is incorporated by reference in the Registration Statement, the
Prepricing Prospectus, the Prospectus and, if applicable, any Permitted Free
Writing Prospectuses, are independent public accountants as required by the Act
and by the rules&nbsp;of the Public Company Accounting Oversight Board;</font></h2>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='10',FILE='C:\JMS\105686\09-2842-4\task3334669\2842-4-kc-01.htm',USER='105686',CD='Feb  4 23:39 2009' -->


<br clear="all" style="page-break-before:always;">


<div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(q)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Ernst&nbsp;&amp;
Young LLP, whose reports on the combined statements of revenues and certain
operating expenses of certain HRPT Medical Properties (the &#147;HRPT Medical
Properties&#148;) were filed with the Commission as part of the Company&#146;s Current
Report on Form&nbsp;8-K filed on May&nbsp;9, 2008, as amended by the Company&#146;s
Current Report on Form&nbsp;8-K/A filed on May&nbsp;22, 2008 and are
incorporated by reference in the Registration Statement, the Prepricing
Prospectus, the Prospectus and, if applicable, any Permitted Free Writing
Prospectuses, are independent public accountants as required by the Act and by
the rules&nbsp;of the Public Company Accounting Oversight Board;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(r)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; all legal or
governmental proceedings, affiliate or other related party transactions,
off-balance sheet transactions (including, without limitation, transactions
related to, and the existence of, &#147;variable interest entities&#148; within the meaning
of Financial Accounting Standards Board Interpretation No.&nbsp;46), contracts,
leases or documents of a character required to be described in the Registration
Statement, the Prepricing Prospectus, the Prospectus or any Incorporated
Document, and all documents required to be filed as an exhibit to the
Registration Statement, any Prepricing Prospectus, the Prospectus or any
Incorporated Document, have been so described or filed or will be filed prior
to the time of purchase as required;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(s)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; except as otherwise
described in the Registration Statement, each Disclosure Package and the
Prospectus, there are no legal or governmental proceedings pending to which the
Company or any of the Subsidiaries is a party or of which any of the Company&#146;s
or any of the Subsidiaries&#146; properties or assets is the subject, the result of
which would, individually or in the aggregate, have a Material Adverse Effect
or a material adverse effect on the ability of the Company to consummate the
transactions contemplated hereby, and, to the Company&#146;s knowledge, no such
proceedings are threatened or contemplated, except as disclosed in the
Registration Statement, each Disclosure Package and the Prospectus, the result
of which would, individually or in the aggregate, have a Material Adverse Effect
or a material adverse effect on the ability of the Company to consummate the
transactions contemplated hereby.&#160; To the
Company&#146;s knowledge, there are no legal or governmental proceedings pending or
threatened to which any lessee, sublessee or operator of any property of the
Company or any Subsidiary or portion thereof is a party, the result of which
would, individually or in the aggregate, have a Material Adverse Effect, and no
such proceedings are being threatened or contemplated, except as disclosed in
the Registration Statement, each Disclosure Package and the Prospectus and the
result of which would, individually or in the aggregate, have a Material
Adverse Effect.&#160; Neither the Company nor
any of the Subsidiaries has received from any governmental authority notice of
any violation of any local, state or federal law, rule&nbsp;or regulation
(including without limitation any such law, rule&nbsp;or regulation applicable
to the health care industry (&#147;Health Care Laws&#148;) or relating to human health or
safety or the environment or any hazardous or toxic substances or wastes,
pollutants or contaminants (&#147;Environmental Laws&#148;)), except as disclosed in the
Registration Statement, each Disclosure Package and the Prospectus, the result
of which would, individually or in the aggregate, have a Material Adverse
Effect, and to the Company&#146;s knowledge, there is no such violation, or any
occurrence or circumstance that would give rise to a claim under or pursuant to
any local, state or federal law, rule&nbsp;or regulation (including without
limitation any Health Care Laws or Environmental Laws),</font></h2>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='11',FILE='C:\JMS\105686\09-2842-4\task3334669\2842-4-kc-01.htm',USER='105686',CD='Feb  4 23:39 2009' -->



<br clear="all" style="page-break-before:always;">
<div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">which would,
individually or in the aggregate, have a Material Adverse Effect.&#160; To the Company&#146;s knowledge, there is no
violation of any local, state or federal law, rule&nbsp;or regulation
(including without limitation Health Care Laws and Environmental Laws) by any
person from whom the Company or any of the Subsidiaries acquired any of its
properties (a &#147;seller&#148;), or any lessee, sublessee or operator of any of their
respective properties or any part thereof, the result of which would,
individually or in the aggregate, have a Material Adverse Effect, and to the
Company&#146;s knowledge, there is no such violation, or any occurrence or
circumstance that would give rise to a claim under or pursuant to any local,
state or federal law, rule&nbsp;or regulation (including without limitation any
Health Care Laws or Environmental Laws), which would, individually or in the
aggregate, have a Material Adverse Effect, except as disclosed in the
Registration Statement, each Disclosure Package and the Prospectus.&#160; Neither the Company nor any of the
Subsidiaries has received from any governmental authority any written notice of
any condemnation of or zoning change affecting the properties or any part
thereof of the Company or any of the Subsidiaries that individually or in the
aggregate would have a Material Adverse Effect and the Company does not know of
any such condemnation or zoning change which is threatened and which if
consummated individually or in the aggregate would have a Material Adverse
Effect.&#160; Nothing has come to the Company&#146;s
attention that any seller, lessee, sublessee or operator of any property of the
Company or any of the Subsidiaries, or portion thereof has, received from any
governmental authority any written notice of any condemnation of or zoning
change affecting the Properties (as defined in Section&nbsp;3(t)&nbsp;below) or
any part thereof of the Company or any of the Subsidiaries that individually or
in the aggregate would have a Material Adverse Effect;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(t)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; as of the
respective dates at which such information is given, each of the Company and
the Subsidiaries has good and marketable title in fee simple or ground leases
to the properties disclosed in the Registration Statement, each Disclosure
Package and the Prospectus as being owned by them (the &#147;Properties&#148;); and the
Properties are free and clear of all liens, encumbrances, claims, mortgages,
deeds of trust, restrictions, security interests and defects (&#147;Property
Encumbrances&#148;), except for: (i)&nbsp;the leasehold interests of lessees in the
Company&#146;s and the Subsidiaries&#146; properties held under lease (the &#147;Leases&#148;), (ii)&nbsp;any
other Property Encumbrances that would not, individually or in the aggregate,
have a Material Adverse Effect and (iii)&nbsp;those Property Encumbrances set
forth in the Registration Statement, each Disclosure Package and the
Prospectus.&#160; All Property Encumbrances on
or affecting the properties of the Company or any of the Subsidiaries which are
required to be disclosed in the Registration Statement, each Disclosure Package
and the Prospectus are disclosed therein.&#160;
Except where it would not individually or in the aggregate have a
Material Adverse Effect, each of the Leases pertaining to the properties of the
Company or any of the Subsidiaries has been duly authorized by the Company or
one of the Subsidiaries, as applicable, and is a valid and binding agreement of
the Company or one of the Subsidiaries, as applicable, and, to the Company&#146;s
knowledge, each other party thereto, enforceable in accordance with its terms,
except as enforcement thereof may be limited by bankruptcy, insolvency,
moratorium, fraudulent conveyance or other similar laws affecting the
enforcement of creditors&#146; rights generally and by general equitable
principles.&#160; To the Company&#146;s knowledge,
no lessee of any portion of any of the properties of the Company or any of the
Subsidiaries is in default under its respective lease and there is no event
which, but </font></h2>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='12',FILE='C:\JMS\eperez\09-2842-4\task3335299\2842-4-kc-03.htm',USER='eperez',CD='Feb  4 16:04 2009' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">for the passage of
time or the giving of notice or both, would constitute a default under any such
lease, except as disclosed in the Registration Statement, each Disclosure
Package and the Prospectus and except for such defaults that would not,
individually or in the aggregate, have a Material Adverse Effect;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(u)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the Company and each
of the Subsidiaries and, to the Company&#146;s knowledge, each of the operators,
lessees or sublessees of any property or portion thereof of the Company or any
of the Subsidiaries have such permits, licenses, approvals, certificates,
franchises and authorizations of governmental or regulatory authorities (&#147;permits&#148;),
including, without limitation, under any Health Care Laws or Environmental
Laws, as are necessary in the case of each such party to acquire and own, lease
or operate its properties and to conduct its business, except where the failure
to obtain such permits would not individually or in the aggregate have a
Material Adverse Effect; except as described in the Registration Statement,
each Disclosure Package and the Prospectus, the Company and each of the Subsidiaries
and, to the Company&#146;s knowledge, each of the lessees, sublessees or operators
of any property or portion thereof of the Company or any of the Subsidiaries
have fulfilled and performed all of their obligations with respect to such
permits and, except as disclosed in the Registration Statement, each Disclosure
Package and the Prospectus, no event has occurred which allows, or after notice
or lapse of time would allow, revocation or termination thereof or result in
any other impairment of the rights of the holder of any such permit, except
where the failure to fulfill or perform, or the resulting termination or
impairment, would not, individually or in the aggregate, have a Material
Adverse Effect; and, except as described in the Registration Statement, each
Disclosure Package and the Prospectus, such permits contain no restrictions
that are burdensome to the Company and the Subsidiaries, taken as a whole and
that would, individually or in the aggregate, have a Material Adverse Effect;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(v)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the financial
statements, together with the related schedules and notes, forming a part of
the Registration Statement, any Prepricing Prospectus, the Prospectus or any
Permitted Free Writing Prospectus, present fairly the consolidated financial
position of the Company and the Subsidiaries as of the dates indicated and the
consolidated results of operations and cash flows of the Company and the
Subsidiaries for the periods specified; and the combined statements of revenues
and certain operating expenses of HRPT Medical Properties, together with the
related notes, forming a part of the Registration Statement, any Prepricing
Prospectus, the Prospectus or any Permitted Free Writing Prospectus, present
fairly the combined statements of revenues and certain operating expenses
described in Note 1 thereto for the periods specified.&#160; Such financial statements have been prepared
in conformity with generally accepted accounting principles applied on a
consistent basis during the periods involved.&#160;
Any pro forma financial statements and other pro forma financial data
included or incorporated by reference in the Registration Statement, any
Prepricing Prospectus, the Prospectus or any Permitted Free Writing Prospectus
comply as to form in all material respects with the applicable accounting
requirements of Regulation S-X of the Act, and the assumptions used in the
preparation of such pro forma financial statements and data are reasonable, the
pro forma adjustments used therein are appropriate to give effect to the
transactions or circumstances described therein and the pro forma adjustments
have been properly applied to the historical amounts in the compilation of
those statements.&#160; To the extent </font></h2>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='13',FILE='C:\JMS\eperez\09-2842-4\task3335299\2842-4-kc-03.htm',USER='eperez',CD='Feb  4 16:04 2009' -->


<br clear="all" style="page-break-before:always;">


<div>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">applicable, all
disclosures contained in the Registration Statement, any Prepricing Prospectus,
the Prospectus, any Permitted Free Writing Prospectus or any Incorporated
Document regarding Non-GAAP Financial Measures (as such term is defined by the rules&nbsp;and
regulations of the Commission) comply, in all material respects, with
Regulation G of the Exchange Act and, if applicable, Item 10 of Regulation
S-K.&#160; The Company and the Subsidiaries do
not have any material liabilities or obligations, direct or contingent
(including any off-balance sheet obligations or any &#147;variable interest entities&#148;
within the meaning of Financial Accounting Standards Board Interpretation No.&nbsp;46),
not disclosed in the Registration Statement, each Prepricing Prospectus and the
Prospectus.&#160; The other financial and
statistical data set forth in the Registration Statement, any Prepricing
Prospectus, the Prospectus and any Permitted Free Writing Prospectus are
accurately presented and prepared on a basis consistent with the financial
statements and books and records of the Company or the HRPT Medical Properties,
as the case may be.&#160; There are no
financial statements (historical or pro forma) that are required to be included
in the Registration Statement, any Prepricing Prospectus or the Prospectus that
are not included as required;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(w)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; subsequent to the
respective dates as of which information is given in the Registration
Statement, any Prepricing Prospectus, the Prospectus and any Permitted Free
Writing Prospectus, in each case excluding any amendments or supplements to the
foregoing made after the execution of this Agreement, there has not been (i)&nbsp;any
material adverse change, or any prospective material adverse change, in the
business, properties, condition (financial or otherwise) or results of
operations of the Company and the Subsidiaries taken as a whole, (ii)&nbsp;any
transaction which is material to the Company or the Subsidiaries, (iii)&nbsp;any
obligation, direct or contingent, which is material to the Company and the
Subsidiaries taken as a whole, incurred by the Company or the Subsidiaries, (iv)&nbsp;any
material change in the outstanding shares of beneficial interest or material
increase in the outstanding indebtedness of the Company or the Subsidiaries or (v)&nbsp;any
dividend or distribution of any kind declared, paid or made on the shares of
beneficial interest of the Company or a dividend distribution of any kind on
any class of its shares of beneficial interest (other than dividends or
distributions from wholly-owned subsidiaries of the Company) other than (A)&nbsp;regular
quarterly dividends, declared, paid or made and (B)&nbsp;the issuance of common
shares of beneficial interest to the trustees and officers of the Company and
directors, officers and employees of Reit Management&nbsp;&amp; Research LLC,
the Company&#146;s manager (&#147;RMR&#148;), pursuant to the Company&#146;s Incentive Share Award
Plan and to RMR in payment of its incentive fee in accordance with the Company&#146;s
advisory agreement with RMR filed as an exhibit to the Registration
Statement.&#160; None of the Company nor the
Subsidiaries has any material contingent obligation which is not disclosed in
the Registration Statement;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(x)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; each of the Company
and the Subsidiaries are insured by insurers of recognized financial
responsibility against such losses and risks and in such amount as are
customary in the business in which they are engaged, except as described in the
Registration Statement, each Disclosure Package and the Prospectus.&#160; Except as would not, individually or in the
aggregate, have a Material Adverse Effect, all policies of insurance insuring
the Company and the Subsidiaries or any of their businesses, assets, employees,
officers, directors and trustees are in full force and effect, and the Company </font></h2>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='14',FILE='C:\JMS\eperez\09-2842-4\task3335299\2842-4-kc-03.htm',USER='eperez',CD='Feb  4 16:04 2009' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">and the
Subsidiaries are in compliance with the terms of such policies in all material
respects.&#160; Except as would not,
individually or in the aggregate, have a Material Adverse Effect, there are no
claims by the Company or any of the Subsidiaries under any such policy or
instrument as to which any insurance company is denying liability or defending
under a reservation of rights clause;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(y)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; except as disclosed
in the Registration Statement, each Disclosure Package and the Prospectus,
neither the Company nor any of the Subsidiaries has either sent or received any
communication regarding termination of, or intent not to renew, any of the
contracts or agreements referred to or described in, or filed as an exhibit to,
the Registration Statement, any Prepricing Prospectus, the Prospectus, any
Permitted Free Writing Prospectus or any Incorporated Document, and no such
termination or non-renewal has been threatened by the Company or any of the
Subsidiaries or any other party to any such contract or agreement;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-size:10.0pt;font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(z)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>the Company has obtained for the benefit of
the Underwriters the agreement (a &#147;Lock-Up Agreement&#148;), in the form set forth
as Exhibit&nbsp;A hereto, of its managing trustees (Messrs.&nbsp;Barry M.
Portnoy and Adam D. Portnoy) and executive officers (Messrs.&nbsp;David J.
Hegarty and Richard A. Doyle);</h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(aa)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; neither the Company
nor any of the Subsidiaries or any of their respective affiliates has taken,
directly or indirectly, any action designed to or which has constituted or
which might reasonably be expected to cause or result, under the Exchange Act
or otherwise, in the stabilization or manipulation of the price of any security
of the Company to facilitate the sale or resale of the Shares;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(bb)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the Company and the
Subsidiaries have not sustained since the date of the latest audited financial
statements included in the Registration Statement, any Prepricing Prospectus
and the Prospectus any loss or interference with their businesses from fire,
explosion, flood or other calamity, whether or not covered by insurance, or
from any labor dispute or court or governmental action, order or decree,
otherwise than as disclosed in the Prospectus or other than any loss or
interference, which would not individually or in the aggregate have a Material
Adverse Effect;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(cc)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the Company and the
Subsidiaries maintain a system of internal accounting controls sufficient to
provide reasonable assurance that (i)&nbsp;transactions are executed in
accordance with management&#146;s general or specific authorization; (ii)&nbsp;transactions
are recorded as necessary to permit preparation of financial statements in
conformity with generally accepted accounting principles and to maintain
accountability for assets; (iii)&nbsp;access to assets is permitted only in
accordance with management&#146;s general or specific authorization; and (iv)&nbsp;the
recorded accountability for assets is compared with the existing assets at
reasonable intervals and appropriate action is taken with respect to any
differences;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(dd)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the Company has
established and maintains and evaluates &#147;disclosure controls and procedures&#148;
(as such term is defined in Rule&nbsp;13a-15 and 15d-15 under the Exchange Act)
and &#147;internal control over financial reporting&#148; (as such term is </font></h2>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">15</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='15',FILE='C:\JMS\eperez\09-2842-4\task3335299\2842-4-kc-03.htm',USER='eperez',CD='Feb  4 16:04 2009' -->


<br clear="all" style="page-break-before:always;">


<div>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">defined in Rule&nbsp;13a-15
and 15d-15 under the Exchange Act); such disclosure controls and procedures are
designed to ensure that material information relating to the Company, including
its consolidated subsidiaries, is made known to the Company&#146;s chief executive
officer and its chief financial officer by others within those entities, and
such disclosure controls and procedures are effective to perform the functions
for which they were established; the Company&#146;s auditors and the Audit Committee
of the Board of Trustees of the Company have been advised of: (i)&nbsp;any
significant deficiencies in the design or operation of the Company&#146;s internal
control over financial reporting which are reasonably likely to adversely
affect the Company&#146;s ability to record, process, summarize, and report
financial information, and (ii)&nbsp;any fraud, whether or not material, that
involves management or other employees who have a significant role in the
Company&#146;s internal control over financial reporting; any material weaknesses in
the Company&#146;s internal control over financial reporting have been identified
for the Company&#146;s auditors; and since the date of the most recent evaluation of
such disclosure controls and procedures and internal controls, there has been
no significant change in the Company&#146;s internal control over financial
reporting or in other factors that has materially affected, or is reasonably
likely to materially affect, the Company&#146;s internal control over financial
reporting; the principal executive officers (or their equivalents) and
principal financial officers (or their equivalents) of the Company have made
all certifications required by the Sarbanes-Oxley Act of 2002 (the &#147;Sarbanes-Oxley
Act&#148;) and any related rules&nbsp;and regulations promulgated by the Commission,
and the statements contained in any such certification in the Incorporated
Documents filed since January&nbsp;1, 2007 are complete and correct as of the
dates such statements were made; each of the Company and its trustees and
officers is otherwise in compliance in all material respects with all
applicable effective provisions of the Sarbanes-Oxley Act and the rules&nbsp;and
regulations of the Commission and the NYSE promulgated thereunder;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ee)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the Company and the
Subsidiaries have filed all federal, state, local and foreign tax returns and
tax forms required to be filed, except where the failure to file such return or
form would not, individually or in the aggregate, have a Material Adverse
Effect.&#160; Such returns and forms are
complete and correct in all material respects, and all taxes shown on such
returns or otherwise assessed that are due or payable have been paid, except
such taxes as are being contested in good faith and as to which adequate
reserves have been provided.&#160; All payroll
withholdings required to be made by the Company and the Subsidiaries with
respect to employees have been made except where the failure to fulfill or
perform, would not, individually or in the aggregate, have a Material Adverse
Effect.&#160; The charges, accruals and
reserves on the books of the Company and the Subsidiaries in respect of any tax
liability for any year not finally determined are adequate to meet any
assessments or reassessments for additional taxes.&#160; There have been no tax deficiencies asserted
and, to the Company&#146;s knowledge, no tax deficiency might be reasonably asserted
or threatened against the Company and/or the Subsidiaries that would
individually or in the aggregate have a Material Adverse Effect;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ff)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the Company has
provided you with true, correct and complete copies of all documentation
pertaining to any extension of credit in the form of a personal loan made, directly
or indirectly, by the Company to any trustee or executive officer of the
Company, or to any family member or affiliate of any trustee or executive
officer of </font></h2>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">16</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='16',FILE='C:\JMS\eperez\09-2842-4\task3335299\2842-4-kc-03.htm',USER='eperez',CD='Feb  4 16:04 2009' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">the Company; and
since July&nbsp;30, 2002, the Company has not, directly or indirectly,
including through any Subsidiary: (i)&nbsp;extended credit, arranged to extend
credit, or renewed any extension of credit, in the form of a personal loan, to
or for any trustee or executive officer of the Company, or to or for any family
member or affiliate of any trustee or executive officer of the Company; or (ii)&nbsp;made
any material modification, including any renewal thereof, to any term of any
personal loan to any trustee or executive officer of the Company, or any family
member or affiliate of any trustee or executive officer, which loan was
outstanding on July&nbsp;30, 2002;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(gg)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; neither the Company
nor any of the Subsidiaries nor, to the Company&#146;s knowledge, any employee or
agent of the Company or any Subsidiary has made any payment of funds of the
Company or any Subsidiary or received or retained any funds in violation of any
law, rule&nbsp;or regulation, which payment, receipt or retention of funds is
of a character required to be disclosed in the Registration Statement, any
Prepricing Prospectus, the Prospectus or any Incorporated Document;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-size:10.0pt;font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(hh)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the outstanding
Common Shares are, </font>and
the Shares will be, subject to official notice of issuance and evidence of
satisfactory distribution, listed on the NYSE; and the Company is in
compliance with NYSE listing standards;</h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the Company meets
the requirements for qualification and taxation as a real estate investment
trust (&#147;REIT&#148;) under the Internal Revenue Code of 1986, as amended (the &#147;Code&#148;);</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(jj)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the Company is not,
and at no time during which a prospectus is required by the Act to be delivered
(whether physically or through compliance with Rule&nbsp;172 under the Act or
any similar rule) in connection with any sale of Shares will not be, and, after
giving effect to the offering and sale of the Shares, will not be an &#147;investment
company&#148; or an entity &#147;controlled&#148; by an &#147;investment company,&#148; as such terms
are defined in the Investment Company Act of 1940, as amended (the &#147;Investment
Company Act&#148;);</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-size:10.0pt;font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(kk)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; in accordance with
Conduct Rule&nbsp;2710(b)(7)(C)(i)&nbsp;of the </font>Financial Industry Regulatory Authority,&nbsp;Inc.
(&#147;<u>FINRA</u>&#148;), the Shares have been registered with the Commission on Form&nbsp;S-3
under the Act pursuant to the standards for such Form&nbsp;S-3 in effect prior
to October&nbsp;21, 1992;</h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ll)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; except as would
not, individually or in the aggregate, have a Material Adverse Effect, each of
the purchase and sale agreements, initially dated as of May&nbsp;5, 2008, as
amended through the date hereof, entered into by the Company with Hub
Properties Trust under which the purchases contemplated therein have not yet
been consummated (the &#147;Remaining MOB Agreements&#148;) has been duly authorized by
the Company and is a valid and binding agreement of the Company, and, to the
Company&#146;s knowledge, each other party thereto, enforceable in accordance with
its terms, except as enforcement thereof may be limited by bankruptcy,
insolvency, moratorium, fraudulent conveyance or other similar laws affecting
the enforcement of creditors&#146; rights generally and by general equitable principles;
and</font></h2>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">17</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='17',FILE='C:\JMS\eperez\09-2842-4\task3335299\2842-4-kc-03.htm',USER='eperez',CD='Feb  4 16:04 2009' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 style="font-size:10.0pt;font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(mm)&#160;&#160;&#160;&#160;&#160;&#160; to the best knowledge
of the Company, (i)&nbsp;the execution and delivery by the Company of the
Remaining MOB Agreements did not, and the consummation of the transactions
contemplated therein will not, conflict with or result in a breach or violation
of any of the terms or provisions of, or constitute a default under, or result
in the creation or imposition of any lien, charge or encumbrance upon the
Shares or any property or assets of the Company pursuant to (A)&nbsp;the
provisions of the Declaration of Trust or the bylaws of the Company or any
Subsidiary or any of the Company&#146;s or any Subsidiary&#146;s other organizational
documents, (B)&nbsp;any indenture, mortgage, deed of trust, loan agreement or
other agreement or instrument to which the Company or any Subsidiary is a party
or by which the Company or any Subsidiary is bound or to which any of the
property or assets of the Company or any Subsidiary is subject, or (C)&nbsp;any
applicable laws or any order, rule&nbsp;or regulation of any court or
governmental agency or body having jurisdiction over the Company or any of its
or its Subsidiaries&#146; properties, other than, in the case of clauses (B)&nbsp;and
(C), as would not, individually or in the aggregate, have a Material Adverse
Effect; and (ii)&nbsp;the representations and warranties contained in
subsections 3(s), 3(t) and 3(u) would have been true in all material
respects had the transactions contemplated by the Remaining MOB Agreements been
consummated immediately prior to the execution of this Agreement; <i>provided that</i> with respect to the
representations and warranties contained in this subsectio</font>n 3(mm),
the Company assumes that (1)&nbsp;the transactions contemplated in the
Remaining MOB Agreements were consummated immediately prior to the execution of
this Agreement solely on the terms of such agreements (including satisfaction
and completion of all pre-closing matters and closing conditions), (2)&nbsp;any
financing obtained in connection with the transactions contemplated in the
Remaining MOB Agreements does not conflict with or violate the Declaration of
Trust or the bylaws of the Company or any Subsidiary or any of the Company&#146;s or
any Subsidiary&#146;s other organizational documents, or any indenture, mortgage,
deed of trust, loan agreement or other agreement or instrument to which the
Company or any Subsidiary is a party or by which the Company or any Subsidiary
is bound or to which any of the property or assets of the Company or any
Subsidiary is subject, or any applicable laws or any order, rule&nbsp;or
regulation of any court or governmental agency or body having jurisdiction over
the Company or any of its or its Subsidiaries&#146; properties, (3)&nbsp;that there
are no changes in the Declaration of Trust or the bylaws of the Company or any
Subsidiary or any of the Company&#146;s or any Subsidiary&#146;s other organizational
documents, (4)&nbsp;that there are no changes in the applicable laws or any
order, rule&nbsp;or regulation of any court or governmental agency or body
having jurisdiction over the Company or any of its or its Subsidiaries&#146;
properties and (5)&nbsp;no intervening facts or events have occurred beyond
those known on the date hereof.</h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In addition, any certificate signed by any officer of the Company or
any of the Subsidiaries and delivered to the Underwriters or counsel for the
Underwriters in connection with the offering of the Shares shall be deemed to
be a representation and warranty by the Company or Subsidiary, as the case may
be, as to matters covered thereby, to each Underwriter.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; [Reserved]</font></h1>

<h1 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h1>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">18</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='18',FILE='C:\JMS\eperez\09-2842-4\task3335299\2842-4-kc-03.htm',USER='eperez',CD='Feb  4 16:04 2009' -->


<br clear="all" style="page-break-before:always;">


<div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Certain
Covenants</u>.</font></h1>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Company hereby
agrees:</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h3 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; to furnish such
information as may be required and otherwise to cooperate in qualifying the
Shares for offering and sale under the securities or blue sky laws of such
states as you may designate and to maintain such qualifications in effect so
long as required for the distribution of the Shares; provided that the Company
shall not be required to qualify as a foreign corporation or to consent to the
service of process under the laws of any such state (except service of process
with respect to the offering and sale of the Shares); and to promptly advise
you of the receipt by the Company of any notification with respect to the
suspension of the qualification of the Shares for sale in any jurisdiction or
the initiation or threat of any proceeding for such purpose;</font></h3>

<h3 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h3>

<h3 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; to make available
to the Underwriters in New York City as many copies of the Prospectus (or of
the Prospectus as amended or supplemented if the Company shall have made any
amendments or supplements thereto) as the Underwriters may reasonably request
for the purposes contemplated by the Act; in case any Underwriter is required
to deliver (whether physically or through compliance with Rule&nbsp;172 under the
Act or any similar rule), in connection with the sale of the Shares, a
prospectus beyond the nine-month period referred to in Section&nbsp;10(a)(3)&nbsp;of
the Act in connection with the sale of the Shares, the Company will prepare
promptly upon request, but at its expense, such amendment or amendments to the
Registration Statement and such prospectuses as may be necessary to permit
compliance with the requirements of Section&nbsp;10(a)(3)&nbsp;of the Act;</font></h3>

<h3 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h3>

<h3 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; to advise you
promptly, confirming such advice in writing, of any request by the Commission
for amendments or supplements to the Registration Statement, any Prepricing
Prospectus, the Prospectus or any Permitted Free Writing Prospectus or for
additional information with respect thereto, or of notice of institution of
proceedings for, or the entry of a stop order suspending the effectiveness of
either of the Registration Statement and, if the Commission should enter a stop
order suspending the effectiveness of either of the Registration Statement, to
make every reasonable effort to obtain the lifting or removal of such order as
soon as possible; to advise you promptly of any proposal to amend or supplement
the Registration Statement, any Prepricing Prospectus or the Prospectus,
including by filing any documents that would be incorporated therein by
reference and to file no such amendment or supplement to which you shall object
in writing;</font></h3>

<h3 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h3>

<h3 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; to file promptly all
reports and any definitive proxy or information statement required to be filed
by the Company with the Commission in order to comply with the Exchange Act
subsequent to the date of the Prospectus and for so long as a prospectus is
required by the Act to be delivered (whether physically or through compliance
with Rule&nbsp;172 under the Act or any similar rule) in connection with any
sale of the Shares, and to promptly notify you of such filing;</font></h3>

<h3 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h3>

<h3 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(v)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; if, at the time this
Agreement is executed and delivered, it is necessary for the registration
statement or a post-effective amendment thereto to be declared effective before
the offering of the Shares may commence, the Company will </font></h3>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">19</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='19',FILE='C:\JMS\eperez\09-2842-4\task3335299\2842-4-kc-03.htm',USER='eperez',CD='Feb  4 16:04 2009' -->


<br clear="all" style="page-break-before:always;">


<div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h3 style="font-weight:normal;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">endeavor to cause
the registration statement or such post-effective amendment to become effective
as soon as possible and will advise you promptly and, if requested by you, will
confirm such advice in writing, when the registration statement or such
post-effective amendment has become effective;</font></h3>

<h3 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.15in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h3>

<h3 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vi)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; to furnish to you
and, upon request, to each of the other Underwriters for a period of three
years from the date of this Agreement (i)&nbsp;copies of any reports or other
communications which the Company shall send to its shareholders or shall from
time to time publish or publicly disseminate, (ii)&nbsp;copies of all annual,
quarterly and current reports filed with the Commission on Forms 10-K, 10-Q and
8-K, or such other similar form as may be designated by the Commission, (iii)&nbsp;upon
request, copies of documents or reports filed with any national securities
exchange on which any class of securities of the Company is listed, and (iv)&nbsp;such
other information as you may reasonably request regarding the Company or the
Subsidiaries, in each case as soon as such communications, documents or
information becomes available; <u>provided</u>, <u>however</u>, that in no case
shall the Company be required to furnish materials pursuant to this paragraph
which are filed and publicly accessible via EDGAR, IDEA or any successor
database;</font></h3>

<h3 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h3>

<h3 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; to advise the
Underwriters promptly of the happening of any event known to the Company within
the time during which a Prospectus relating to the Shares is required under the
Act to be delivered (whether physically or through compliance with Rule&nbsp;172
or any similar rule) in connection with any sale of the Shares, which, in the
judgment of the Company, would require the making of any change in the
Prospectus then being used, or in the information incorporated therein by
reference, so that the Prospectus would not include an untrue statement of
material fact or omit to state a material fact necessary to make the statements
therein, in the light of the circumstances under which they are made, not
misleading, and, during such time, to prepare and furnish, at the Company&#146;s
expense, to the Underwriters promptly such amendments or supplements to such
Prospectus as may be necessary to reflect any such change and to furnish you a
copy of such proposed amendment or supplement before filing any such amendment
or supplement with the Commission;</font></h3>

<h3 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h3>

<h3 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(viii)&#160;&#160;&#160;&#160;&#160;&#160;&#160; to make generally
available to its security holders, and to deliver to you, as soon as reasonably
practicable, but not later than May&nbsp;10, 2010, an earning statement of the
Company satisfying the provisions of the last paragraph of Section&nbsp;11(a)&nbsp;of
the Act and Rule&nbsp;158(c)&nbsp;thereunder;</font></h3>

<h3 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h3>

<h3 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ix)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; to furnish or make
available to its shareholders as soon as practicable after the end of each
fiscal year an annual report (including a balance sheet and statements of
income, shareholders&#146; equity and of cash flow of the Company) for such fiscal
year, accompanied by a copy of the certificate or report thereon of nationally
recognized independent certified public accountants;</font></h3>

<h3 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h3>

<h3 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(x)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; to furnish to you
three conformed copies of each of the Registration Statement, as initially
filed with the Commission, and of all amendments thereto (including all
exhibits thereto and documents incorporated by reference therein) </font></h3>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">20</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='20',FILE='C:\JMS\eperez\09-2842-4\task3335299\2842-4-kc-03.htm',USER='eperez',CD='Feb  4 16:04 2009' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h3 style="font-weight:normal;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">and sufficient
conformed copies of the foregoing (other than exhibits) for distribution of a
copy to each of the other Underwriters;</font></h3>

<h3 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.15in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h3>

<h3 style="font-size:10.0pt;font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xi)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; to furnish to you
as early as practicable prior to the time of purchase </font>and the additional time of purchase, as the
case may be, but not later than two business days prior thereto, a copy
of the latest available unaudited interim consolidated financial statements, if
any, of the Company and the Subsidiaries which have been read by the Company&#146;s
independent certified public accountants, as stated in their letter to be
furnished pursuant to Section&nbsp;7(f)&nbsp;hereof;</h3>

<h3 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h3>

<h3 style="font-size:10.0pt;font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>to apply the net proceeds from the sale of
the Shares, in all material respects, in the manner set forth under the caption
&#147;Use of proceeds&#148; in the Prospectus;</h3>

<h3 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h3>

<h3 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xiii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; to furnish to you,
before filing with the Commission subsequent to the effective date of the
Registration Statement and during the period referred to in paragraph (vii)&nbsp;above,
a copy of any document proposed to be filed pursuant to Section&nbsp;13, 14 or
15(d)&nbsp;of the Exchange Act;</font></h3>

<h3 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h3>

<h3 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xiv)&#160;&#160;&#160;&#160;&#160;&#160;&#160; to pay all expenses,
fees and taxes in connection with (i)&nbsp;the preparation and filing of the
Registration Statement, the Basic Prospectus, any Prepricing Prospectus, the
Prospectus Supplement, the Prospectus, any Permitted Free Writing Prospectus
and any amendments or supplements thereto, and the printing and furnishing of
copies of each thereof to the Underwriters and to dealers (including costs of
mailing and shipment), (ii)&nbsp;the registration, issue, sale and delivery of
the Shares including any stock or transfer taxes and stamp or similar duties
payable upon the sale, issuance or delivery of the Shares to the Underwriters, (iii)&nbsp;the
word processing and/or printing of this Agreement, any Agreement Among
Underwriters and any dealer agreements and the reproduction and/or printing and
furnishing of copies of each thereof to the Underwriters and to dealers
(including costs of mailing and shipment), (iv)&nbsp;the qualification of the
Shares for offering and sale under state laws and the determination of their
eligibility for investment under state law as aforesaid (including the legal
fees and filing fees and other disbursements of counsel to the Underwriters)
and the printing and furnishing of copies of any blue sky surveys or legal
investment surveys to the Underwriters and to dealers, (v)&nbsp;any filing for
review of the public offering of the Shares by FINRA (including the legal fees
and filing fees and other disbursements of counsel to the Underwriters with
respect thereto), (vi)&nbsp;any listing of the Shares on any securities
exchange and any registration thereof under the Exchange Act, (vii)&nbsp;the
fees and disbursements of any transfer agent or registrar for the Shares, (viii)&nbsp;the
costs and expenses of the Company relating to presentations or meetings
undertaken in connection with the marketing of the offering and sale of the
Shares to prospective investors and the Underwriters&#146; sales forces, including,
without limitation, expenses associated with the production of road show slides
and graphics, fees and expenses of any consultants engaged in connection with
the road show presentations, travel, lodging and other expenses incurred by the
officers of the Company and any such consultants, and the cost of any aircraft
chartered in connection with the road show, and (ix)&nbsp;the performance of
the Company&#146;s other obligations hereunder;</font></h3>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">21</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='21',FILE='C:\JMS\eperez\09-2842-4\task3335299\2842-4-kc-03.htm',USER='eperez',CD='Feb  4 16:04 2009' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h3 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xv)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; to comply with Rule&nbsp;433(g)&nbsp;under
the Act;</font></h3>

<h3 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h3>

<h3 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xvi)&#160;&#160;&#160;&#160;&#160;&#160;&#160; not to (i)&nbsp;sell,
offer to sell, contract to sell, hypothecate, pledge, grant any option to sell
or otherwise dispose of, directly or indirectly, or establish or increase a put
equivalent position or liquidate or decrease a call equivalent position within
the meaning of Section&nbsp;16 of the Exchange Act with respect to, any Common
Shares or securities convertible into or exchangeable or exercisable for Common
Shares or options, warrants or other rights to purchase Common Shares or any
other shares of the Company that are substantially similar to Common Shares, (ii)&nbsp;enter
into any swap or other arrangement that transfers to another, in whole or in
part, any of the economic consequences of ownership of Common Shares or any
securities convertible into or exercisable or exchangeable for Common Shares,
whether any such transaction is to be settled by delivery of Common Shares or
such other securities, in cash or otherwise, (iii)&nbsp;publicly announce an
intention to effect any transaction specified in clause (i)&nbsp;or (ii), or (iv)&nbsp;file
a registration statement under the Act relating to the offer and sale of any
Common Shares or securities convertible into or exchangeable or exercisable for
Common Shares or options, warrants or other rights to purchase Common Shares or
any other shares of the Company that are substantially similar to Common Shares
for a period of sixty (60) days after the date hereof (the &#147;Lock-up Period&#148;)
without the prior written consent of UBS Securities LLC, except for (i)&nbsp;the
registration of the Shares and the sales to the Underwriters pursuant to this
Agreement, (ii)&nbsp;issuances of Common Shares upon the exercise of
outstanding options or warrants as disclosed in the Registration Statement,
each Prepricing Prospectus and the Prospectus, (iii)&nbsp;the issuance of
employee stock options not exercisable during the Lock-up Period pursuant to
stock option plans, if any, described in the Registration Statement, each
Prepricing Prospectus and the Prospectus, (iv)&nbsp;issuances of Common Shares
to the trustees and officers of the Company and directors and officers of RMR
pursuant to the Company&#146;s Incentive Share Award Plan described in the
Registration Statement, each Prepricing Prospectus and the Prospectus and to
RMR in payment of its incentive fee in accordance with the Company&#146;s advisory
agreement with RMR filed as an exhibit to the Registration Statement and (v)&nbsp;issuances
of Common Shares as partial or full payment for properties directly or
indirectly acquired or to be acquired by the Company or its subsidiaries;
provided that, the Company shall have conditioned such issuances of Common
Shares upon agreement of the recipients to the restrictions of this paragraph; <u>provided</u>,
<u>however</u>, that if (a)&nbsp;during the period that begins on the date that
is fifteen (15) calendar days plus three (3)&nbsp;business days before the last
day of the Lock-Up Period and ends on the last day of the Lock-Up Period, the
Company issues an earnings release or material news or a material event
relating to the Company occurs; or (b)&nbsp;prior to the expiration of the
Lock-Up Period, the Company announces that it will release earnings results
during the sixteen (16) day period beginning on the last day of the Lock-Up
Period, then the restrictions imposed by this 5(a)(xvi) shall continue to apply
until the expiration of the date that is fifteen (15) calendar days plus three (3)&nbsp;business
days after the date on which the issuance of the earnings release or the
material news or material event occurs;</font></h3>

<h3 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h3>

<h3 style="font-size:10.0pt;font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xvii)&#160;&#160;&#160;&#160;&#160;&#160; </font>to use its best efforts to cause the Shares
to be listed on the NYSE;</h3>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">22</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='22',FILE='C:\JMS\eperez\09-2842-4\task3335299\2842-4-kc-03.htm',USER='eperez',CD='Feb  4 16:04 2009' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h3 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xviii)&#160;&#160;&#160;&#160;&#160; to use its best
efforts to continue to qualify as a REIT under Sections 856 through 860 of the
Code;</font></h3>

<h3 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h3>

<h3 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xix)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; to maintain a
transfer agent and, if necessary under the jurisdiction of formation of the
Company, a registrar for the Common Shares;</font></h3>

<h3 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h3>

<h3 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xx)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; prior to the time of
purchase, to issue no press release or other communication directly or
indirectly and hold no press conferences with respect to the Company or any
Subsidiary, the financial condition, results of operations, business,
properties, assets, or liabilities of the Company or any Subsidiary, or the
offering of the Shares, without your prior consent; and</font></h3>

<h3 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h3>

<h3 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(xxi)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; not, at any time at
or after the execution of this Agreement, to, directly or indirectly, offer or
sell any Shares by means of any &#147;prospectus&#148; (within the meaning of the Act),
or use any &#147;prospectus&#148; (within the meaning of the Act) in connection with the offer
or sale of the Shares, in each case other than the Prospectus.</font></h3>

<h3 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h3>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Each Underwriter
represents, severally and not jointly, that it has not and will not use any &#147;free
writing prospectus,&#148; as defined in Rule&nbsp;405 under the Securities Act,
required to be filed with the Commission by the Company or any Underwriter
pursuant to Rule&nbsp;433 under the Act, other than any free writing prospectus
listed on Schedule B hereto or otherwise consented to by the Company.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h1 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Reimbursement of
Underwriters&#146; Expenses</u>.&#160; If the
Shares are not delivered for any reason other than the termination of this
Agreement pursuant to clause (ii)(A), (C), (D)&nbsp;or (E)&nbsp;of the second
paragraph of Section&nbsp;8 hereof or pursuant to the last paragraph of Section&nbsp;9
hereof or the default by one or more of the Underwriters in its or their
respective obligations hereunder, the Company shall, in addition to paying the
amounts described in Section&nbsp;5(a)(xiv) hereof, reimburse the Underwriters
for all of their out-of-pocket expenses, including the reasonable fees and
disbursements of their counsel.</font></h1>

<h1 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h1>

<h1 style="font-size:10.0pt;font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Conditions of
Underwriters&#146; Obligations</u>.&#160; The
several obligations of the Underwriters hereunder are subject to the accuracy
of the representations and warranties on the part of the Company on the date
hereof and at the time of purchase </font>(and the several obligations of the
Underwriters at the additional time of purchase are subject to the accuracy of
the representations and warranties on the part of the Company on the date
hereof and at the time of purchase (unless previously waived) and at the
additional time of purchase, as the case may be), the performance by the
Company of its obligations hereunder and to the following additional conditions
precedent:</h1>

<h1 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h1>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Company shall
furnish to you at the time of purchase and the additional time of purchase, as
the case may be, an opinion of Sullivan&nbsp;&amp; Worcester LLP, counsel for
the Company, addressed to the Underwriters, and dated the time of purchase and
the additional time of purchase, as the case may be, with reproduced copies for
each of the other Underwriters and in form satisfactory to Dewey&nbsp;&amp;
LeBoeuf LLP, counsel for the Underwriters, stating to the effect set forth in <u>Exhibit&nbsp;B</u>
hereto.&#160; In rendering their opinion as
aforesaid, Sullivan&nbsp;&amp; Worcester LLP may limit such opinion to matters
of</font></h2>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='23',FILE='C:\JMS\eperez\09-2842-4\task3335299\2842-4-kc-03.htm',USER='eperez',CD='Feb  4 16:04 2009' -->



<br clear="all" style="page-break-before:always;">
<div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">federal,
Massachusetts and New York law and, as to matters governed by Maryland law, may
rely upon the opinion, dated as of the time of purchase of Venable LLP
delivered pursuant to Section&nbsp;7(b)&nbsp;of this Agreement, provided that
such reliance is expressly authorized by such opinion and a copy of such
opinion is delivered to the Underwriters and is, in form and substance,
satisfactory to the Underwriters and counsel for the Underwriters.&#160; In addition, in rendering such opinion, such
counsel may state that their opinion as to laws of the State of Delaware is
limited to the Delaware General Corporation Law and that their opinion with
respect to the qualification of the Company and its Subsidiaries to do business
in jurisdictions other than their respective jurisdiction of organization is
based solely upon certificates to such effect issued by an appropriate official
of the applicable jurisdictions.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Company shall
furnish to you at the time of purchase and the additional time of purchase, as
the case may be, an opinion of Venable LLP, special Maryland counsel of the
Company, addressed to the Underwriters, and dated the time of purchase and the
additional time of purchase, as the case may be, with reproduced copies for
each of the other Underwriters and in form satisfactory to Dewey&nbsp;&amp;
LeBoeuf LLP, counsel for the Underwriters, stating to the effect set forth in <u>Exhibit&nbsp;C</u>
hereto.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; [Reserved]</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; You shall have
received at the time of purchase and the additional time of purchase, as the
case may be, an opinion of Dewey&nbsp;&amp; LeBoeuf LLP, counsel for the
Underwriters, dated the time of purchase and the additional time of purchase,
as the case may be, with respect to the sale of the Shares by the Company, the
Registration Statement, the Prospectus and such other related matters as the
Underwriters may require.&#160; In addition,
Dewey&nbsp;&amp; LeBoeuf LLP may rely on the opinion of Venable LLP as to all
matters of Maryland law.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; You shall have
received from Ernst&nbsp;&amp; Young LLP letters addressed to the Underwriters
in the forms approved by UBS Securities LLC, and dated (i)&nbsp;the date of
this Agreement, which letter shall cover, without limitation, the information
in the Registration Statement, any Prepricing Prospectus, the various financial
disclosures, if any, contained in the Permitted Free Writing Prospectuses, if
any, the Prospectus, the Current Report on Form&nbsp;8-K filed on May&nbsp;9,
2008 and the Current Report on Form&nbsp;8-K/A filed on May&nbsp;22, 2008 and (ii)&nbsp;the
time of purchase and the additional time of purchase, as the case may be, which
letter shall cover, without limitation, the information in the Registration
Statement and the Prospectus, and the various financial disclosures, if any,
contained in the Permitted Free Writing Prospectuses, if any.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; No amendment or
supplement to the Registration Statement or Prospectus, including documents
deemed to be incorporated by reference therein, shall have been made to which
you have objected in writing.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(g)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Registration
Statement shall have become effective, and the Prospectus Supplement shall have
been filed with the Commission pursuant to Rule&nbsp;</font></h2>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">24</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='24',FILE='C:\JMS\105836\09-2842-4\task3334671\2842-4-kc-05.htm',USER='105836',CD='Feb  4 23:41 2009' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">424(b)&nbsp;under
the Act at or before 5:30&nbsp;P.M., New York City time, no later than the
second full business day after the date of this Agreement or such earlier time
as required by the Act.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(h)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Prior to the time of
purchase and the additional time of purchase, as the case may be, (i)&nbsp;no
stop order with respect to the effectiveness of the Registration Statement
shall have been issued under the Act or proceedings initiated under Section&nbsp;8(d)&nbsp;or
8(e)&nbsp;of the Act; (ii)&nbsp;the Registration Statement and all amendments
thereto, or modifications thereof, if any, shall not contain an untrue
statement of a material fact or omit to state a material fact required to be
stated therein or necessary to make the statements therein not misleading; (iii)&nbsp;none
of the Prepricing Prospectuses or the Prospectus, and no amendment or
supplements thereto, shall contain an untrue statement of a material fact or
omit to state a material fact required to be stated therein or necessary to
make the statements therein, in the light of the circumstances under which they
are made, not misleading; (iv)&nbsp;no Disclosure Package, and no amendment or
supplement thereto, shall include an untrue statement of a material fact or
omit to state a material fact necessary in order to make the statements
therein, in the light of the circumstances under which they are made, not
misleading; and (v)&nbsp;none of the Permitted Free Writing Prospectuses, if
any, shall include an untrue statement of a material fact or omit to state a
material fact necessary in order to make the statements therein, in the light
of the circumstances under which they are made, not misleading.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Between the time of
execution of this Agreement and the time of purchase or the additional time of
purchase, as the case may be, there shall not have occurred any downgrading,
nor shall any notice or announcement have been given or made of (i)&nbsp;any
intended or potential downgrading or (ii)&nbsp;any review or possible change
that does not indicate an improvement, in the rating accorded any securities of
or guaranteed by the Company by any &#147;nationally recognized statistical rating
organization,&#148; as that term is defined in Rule&nbsp;436(g)(2)&nbsp;under the
Act.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-size:10.0pt;font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(j)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>You shall have received signed Lock-Up
Agreements referred to in Section&nbsp;3(z) hereof.</h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(k)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Company will, at
the time of purchase and the additional time of purchase, as the case may be,
deliver to you a certificate of two of its executive officers to the effect
that the representations and warranties of the Company as set forth in this
Agreement are true and correct as of such date, that the Company has performed
such of its obligations under this Agreement as are to be performed at or
before the time of purchase and the conditions set forth in paragraphs (g)&nbsp;and
(h)&nbsp;of this Section&nbsp;7 have been met.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-size:10.0pt;font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(l)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The Company will, at the time of purchase and
the additional time of purchase, as the case may be, deliver to you a
certificate of its Chief Financial Officer, in the form set forth in <u>Exhibit&nbsp;D</u>
hereto.</h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-size:10.0pt;font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(m)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Company will at
the time of purchase deliver to you a certificate signed by the </font>Chief Financial Officer of the Company
substantially in such </h2>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">25</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='25',FILE='C:\JMS\105836\09-2842-4\task3334671\2842-4-kc-05.htm',USER='105836',CD='Feb  4 23:41 2009' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">form approved by
you and counsel to the Underwriters, respecting the Company&#146;s compliance, both
prior to and after giving effect to the transactions contemplated hereby
(including, without limitation, the application of the net proceeds by the
Company as described in the Prospectus), with the financial covenants set forth
in the Company&#146;s credit agreement, the Company&#146;s indenture relating to the
Company&#146;s 8-5/8% Senior Notes due 2012 and the Company&#146;s indenture relating to
the Company&#146;s 7-7/8% Senior Notes due 2015 and other agreements and instruments
respecting outstanding material indebtedness of the Company and the
Subsidiaries.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-size:10.0pt;font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(n)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The Shares shall have been approved for
listing on the NYSE.</h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(o)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Company shall
have furnished to you such other documents and certificates as to the accuracy
and completeness of any statement in the Registration Statement, any Prepricing
Prospectus, the Prospectus or any Permitted Free Writing Prospectus as of the
time of purchase as you may reasonably request.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h1 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Effective Date
of Agreement; Termination</u>.&#160; This
Agreement shall become effective: (i)&nbsp;upon the execution and delivery
hereof by the parties hereto; or (ii)&nbsp;if, at the time this Agreement is
executed and delivered, it is necessary for the registration statement or a
post-effective amendment thereto to be declared or become effective before the
offering of the Shares may commence, when notification of the effectiveness of
the registration statement or such post-effective amendment has been released
by the Commission.&#160; Until such time as
this Agreement shall have become effective, it may be terminated by the
Company, by notifying you, or by you, as representatives of the Underwriters,
by notifying the Company.</font></h1>

<h1 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h1>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The obligations of the several Underwriters hereunder shall be subject
to termination in the absolute discretion of UBS Securities LLC if (i)&nbsp;since
the time of execution of this Agreement or the earlier respective dates as of
which information is given in the Registration Statement, any Prepricing
Prospectus, the Prospectus and the Permitted Free Writing Prospectuses, if any,
there has been any material adverse change or any development involving a
prospective material adverse change in the business, properties, management,
financial condition or results of operations of the Company and the
Subsidiaries taken as a whole, which would, in the judgment of UBS Securities
LLC, make it impracticable or inadvisable to proceed with the public offering
or the delivery of the Shares on the terms and in the manner contemplated in
the Registration Statement, any Disclosure Package or the Prospectus, or (ii)&nbsp;since
the time of execution of this Agreement, there shall have occurred: (A)&nbsp;a
suspension or material limitation in trading in securities generally on the
NYSE, the NYSE Alternext US or the Nasdaq Stock Market Inc.; (B)&nbsp;a
suspension or material limitation in trading in the Company&#146;s securities on the
NYSE; (C)&nbsp;a general moratorium on commercial banking activities declared
by either federal or New York State authorities or a material disruption in
commercial banking or securities settlement or clearance services in the United
States; (D)&nbsp;an outbreak or escalation of hostilities or acts of terrorism
involving the United States or a declaration by the United States of a national
emergency or war; or (E)&nbsp;any other calamity or crisis or any change in
financial, political or economic conditions in the United States or elsewhere,
if the effect of any such event specified in clause (D)&nbsp;or (E), in the
judgment </font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">26</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='26',FILE='C:\JMS\105836\09-2842-4\task3334671\2842-4-kc-05.htm',USER='105836',CD='Feb  4 23:41 2009' -->


<br clear="all" style="page-break-before:always;">


<div>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">of UBS Securities LLC, makes it impracticable or
inadvisable to proceed with the public offering or the delivery of the Shares
on the terms and in the manner contemplated in the Registration Statement, any Disclosure
Package or the Prospectus.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If you or any group of Underwriters elects to terminate this Agreement
as provided in this Section&nbsp;8, the Company and each other Underwriter
shall be notified promptly in writing.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If the sale to the Underwriters of the Shares, as contemplated by this
Agreement, is not carried out by the Underwriters for any reason permitted
under this Agreement or if such sale is not carried out because the Company
shall be unable to comply with any of the terms of this Agreement, the Company
shall not be under any obligation or liability under this Agreement (except to
the extent provided in Sections 5(a)(xiv), 6 and 10 hereof), and the
Underwriters shall be under no obligation or liability to the Company under
this Agreement (except to the extent provided in Section&nbsp;10 hereof) or to
one another hereunder.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Increase in
Underwriters&#146; Commitments</u>.&#160; Subject
to Sections 7 and 8 hereof, if any Underwriter shall default in its obligation
to take up and pay for the Firm Shares to be purchased by it hereunder
(otherwise than for reasons sufficient to justify the termination of this
Agreement under the provisions of Section&nbsp;8 hereof) and if the number of
Firm Shares which all Underwriters so defaulting shall have agreed but failed
to take up and pay for does not exceed 10% of the total aggregate number of
Firm Shares, the non-defaulting Underwriters shall take up and pay for (in
addition to the Firm Shares they are obligated to purchase pursuant to Section&nbsp;1
hereof) the Firm Shares agreed to be purchased by all such defaulting
Underwriters, as hereinafter provided.&#160;
Such Firm Shares shall be taken up and paid for by such non-defaulting
Underwriter or Underwriters in such amount or amounts as you may designate with
the consent of each Underwriter so designated or, in the event no such
designation is made, such Firm Shares shall be taken up and paid for by all
non-defaulting Underwriters pro rata in proportion to the aggregate number of
Firm Shares set opposite the names of such non-defaulting Underwriters in
Schedule A.</font></h1>

<h1 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h1>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Without relieving any defaulting Underwriter from its obligations
hereunder, the Company agrees with the non-defaulting Underwriters that it will
not sell any Firm Shares hereunder unless all of the Firm Shares are purchased
by the Underwriters (or by substituted Underwriters selected by you with the
approval of the Company or selected by the Company with your approval).</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If a new Underwriter or Underwriters are substituted by the
Underwriters or by the Company for a defaulting Underwriter or Underwriters in
accordance with the foregoing provision, the Company or you shall have the
right to postpone the time of purchase for a period not exceeding five business
days in order that any necessary changes in the Prospectus and other documents
may be effected.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">27</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='27',FILE='C:\JMS\105836\09-2842-4\task3334671\2842-4-kc-05.htm',USER='105836',CD='Feb  4 23:41 2009' -->


<br clear="all" style="page-break-before:always;">


<div>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The term Underwriter as used in this Agreement shall refer to and
include any Underwriter substituted under this Section&nbsp;9 with like effect
as if such substituted Underwriter had originally been named in Schedule A.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If the aggregate number of Firm Shares which the defaulting Underwriter
or Underwriters agreed to purchase exceeds 10% of the total number of Firm
Shares which all Underwriters agreed to purchase hereunder, and if neither the
non-defaulting Underwriters nor the Company shall make arrangements within the
five business day period stated above for the purchase of all the Firm Shares
which the defaulting Underwriter or Underwriters agreed to purchase hereunder,
this Agreement shall be terminated without further act or deed and without any
liability on the part of the Company to any non-defaulting Underwriter and
without any liability on the part of any non-defaulting Underwriter to the
Company.&#160; Nothing in this paragraph, and
no action taken hereunder, shall relieve any defaulting Underwriter from
liability in respect of any default of such Underwriter under this Agreement.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Indemnity and
Contribution</u>.</font></h1>

<h1 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h1>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Company agrees
to indemnify, defend and hold harmless each Underwriter, its partners,
directors and officers, and any person who controls any Underwriter within the
meaning of Section&nbsp;15 of the Act or Section&nbsp;20 of the Exchange Act,
and the successors and assigns of all of the foregoing persons, from and
against any loss, damage, expense, liability or claim (including the reasonable
cost of investigation) which, jointly or severally, any such Underwriter or any
such person may incur under the Act, the Exchange Act, the common law or
otherwise, insofar as such loss, damage, expense, liability or claim arises out
of or is based upon (i)&nbsp;any untrue statement or alleged untrue statement
of a material fact contained in the Registration Statement (or in the
Registration Statement as amended by any post-effective amendment thereof by
the Company) or arises out of or is based upon any omission or alleged omission
to state a material fact required to be stated therein or necessary to make the
statements therein not misleading, except insofar as any such loss, damage,
expense, liability or claim arises out of or is based upon any untrue statement
or alleged untrue statement of a material fact contained in, and in conformity
with information concerning such Underwriter furnished in writing by or on
behalf of such Underwriter through you to the Company expressly for use in, the
Registration Statement or arises out of or is based upon any omission or
alleged omission to state a material fact in the Registration Statement in
connection with such information, which material fact was not contained in such
information and which material fact was required to be stated in such
Registration Statement or was necessary to make such information not misleading
or (ii)&nbsp;any untrue statement or alleged untrue statement of a material
fact included in any Prospectus (the term Prospectus for the purpose of this Section&nbsp;10
being deemed to include any Basic Prospectus, any Prepricing Prospectus, the
Prospectus Supplement, the Prospectus and any amendments or supplements to the
foregoing), in any Permitted Free Writing Prospectus, in any &#147;issuer
information&#148; (as defined in Rule&nbsp;433 under the Act) of the Company or in
any Prospectus together with any combination of one or more of the Permitted
Free Writing Prospectuses, if any, or arises out of or is based upon any
omission or alleged omission to state a material fact necessary in order to
make the statements therein, in the light of the </font></h2>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">28</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='28',FILE='C:\JMS\105836\09-2842-4\task3334671\2842-4-kc-05.htm',USER='105836',CD='Feb  4 23:41 2009' -->


<br clear="all" style="page-break-before:always;">


<div>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">circumstances
under which they were made, not misleading, except, with respect to such
Prospectus or Permitted Free Writing Prospectus, insofar as any such loss,
damage, expense, liability or claim arises out of or is based upon any untrue
statement or alleged untrue statement of a material fact contained in, and in
conformity with information concerning such Underwriter furnished in writing by
or on behalf of such Underwriter through you to the Company expressly for use
in, such Prospectus or Permitted Free Writing Prospectus or arises out of or is
based upon any omission or alleged omission to state a material fact in such
Prospectus or Permitted Free Writing Prospectus in connection with such
information, which material fact was not contained in such information and
which material fact was necessary in order to make the statements in such
information, in the light of the circumstances under which they were made, not
misleading.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Each Underwriter
severally agrees to indemnify, defend and hold harmless the Company, its
trustees, officers, employees and agents and any person who controls the
Company within the meaning of Section&nbsp;15 of the Act or Section&nbsp;20 of
the Exchange Act, and the successors and assigns of all of the foregoing
persons, from and against any loss, damage, expense, liability or claim
(including the reasonable cost of investigation) which, jointly or severally,
the Company or any such person may incur under the Act, the Exchange Act, the
common law or otherwise, insofar as such loss, damage, expense, liability or
claim arises out of or is based upon (i)&nbsp;any untrue statement or alleged
untrue statement of a material fact contained in, and in conformity with
information furnished in writing by or on behalf of such Underwriter through
you to the Company expressly for use in the Registration Statement (or in the Registration
Statement as amended by any post-effective amendment thereof by the Company),
or arises out of or is based upon any omission or alleged omission to state a
material fact in such Registration Statement in connection with such
information, which material fact was not contained in such information and
which material fact was required to be stated in such Registration Statement or
was necessary to make such information not misleading or (ii)&nbsp;any untrue
statement or alleged untrue statement of a material fact contained in, and in
conformity with information furnished in writing by or on behalf of such
Underwriter through you to the Company expressly for use in, a Prospectus or a
Permitted Free Writing Prospectus, or arises out of or is based upon any
omission or alleged omission to state a material fact in such Prospectus or
Permitted Free Writing Prospectus in connection with such information, which
material fact was not contained in such information and which material fact was
necessary in order to make the statements in such information, in the light of
the circumstances under which they were made, not misleading.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; If any action, suit
or proceeding (each, a &#147;Proceeding&#148;) is brought against any person in respect
of which indemnity may be sought pursuant to the foregoing paragraphs (a)&nbsp;and
(b)&nbsp;of this Section&nbsp;10, such person (the &#147;indemnified party&#148;) shall
promptly notify the person against whom such indemnity may be sought (the &#147;indemnifying
party&#148;) in writing of the institution of such Proceeding and such indemnifying
party shall assume the defense of such Proceeding, including the employment of
counsel reasonably satisfactory to such indemnified party) and payment of all
fees and expenses; <u>provided</u>, <u>however</u>, that the omission to so
notify such </font></h2>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">29</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='29',FILE='C:\JMS\105836\09-2842-4\task3334671\2842-4-kc-05.htm',USER='105836',CD='Feb  4 23:41 2009' -->


<br clear="all" style="page-break-before:always;">


<div>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">indemnifying party
shall not relieve such indemnifying party from any liability which it may have
to such indemnified party or otherwise.&#160;
Such indemnified party shall have the right to employ its own counsel in
any such case, but the fees and expenses of such counsel shall be at the
expense of such indemnified party unless the employment of such counsel shall
have been authorized in writing by such indemnifying party in connection with
the defense of such Proceeding or such indemnifying party shall not have,
within a reasonable period of time in light of the circumstances, employed
counsel to defend such Proceeding or such indemnified party or parties shall
have reasonably concluded that there may be defenses available to it or them
which are different from or additional to or in conflict with those available
to such indemnifying party (in which case such indemnifying party shall not
have the right to direct the defense of such Proceeding on behalf of the indemnified
party or parties, but such indemnifying party may employ counsel and
participate in the defense thereof but the fees and expenses of such counsel
shall be at the expense of such indemnifying party), in any of which events
such fees and expenses shall be borne by such indemnifying party and paid as
incurred (it being understood, however, that such indemnifying party shall not
be liable for the expenses of more than one separate counsel (in addition to
any local counsel) in any one Proceeding or series of related Proceedings in
the same jurisdiction representing the indemnified parties who are parties to
such Proceeding).&#160; No indemnifying party
shall be liable for any settlement of any such Proceeding effected without the
written consent of such indemnifying party but if settled with the written
consent of such indemnifying party, such indemnifying party agrees to indemnify
and hold harmless the indemnified party from and against any loss or liability
by reason of such settlement.&#160;
Notwithstanding the foregoing sentence, if at any time an indemnified
party shall have requested an indemnifying party to reimburse the indemnified
party for fees and expenses of counsel as contemplated by the second sentence
of this paragraph, then the indemnifying party agrees that it shall be liable
for any settlement of any Proceeding effected without its written consent if (i)&nbsp;such
settlement is entered into more than 60 business days after receipt by such
indemnifying party of the aforesaid request, (ii)&nbsp;such indemnifying party
shall not have reimbursed the indemnified party in accordance with such request
prior to the date of such settlement and (iii)&nbsp;such indemnified party
shall have given the indemnifying party at least 30 days&#146; prior notice of its
intention to settle.&#160; No indemnifying
party shall, without the prior written consent of the indemnified party, effect
any settlement of any pending or threatened Proceeding in respect of which any
indemnified party is or could have been a party and indemnity could have been
sought hereunder by such indemnified party, unless such settlement includes an
unconditional release of such indemnified party from all liability on claims
that are the subject matter of such Proceeding and does not include an
admission of fault, liability or failure to act, by or on behalf of such
indemnified party.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; If the
indemnification provided for in this Section&nbsp;10 is unavailable to an
indemnified party under subsections (a)&nbsp;and (b)&nbsp;of this Section&nbsp;10
in respect of any losses, damage, expenses, liabilities or claims referred to
therein, then each applicable indemnifying party, in lieu of indemnifying such
indemnified party, shall contribute to the amount paid or payable by such
indemnified party as a result of such losses, damages, expenses, liabilities or
claims (i)&nbsp;in such proportion as is appropriate to reflect the relative
benefits received by the Company on the one hand and the Underwriters on the
other </font></h2>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">30</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='30',FILE='C:\JMS\105836\09-2842-4\task3334671\2842-4-kc-05.htm',USER='105836',CD='Feb  4 23:41 2009' -->


<br clear="all" style="page-break-before:always;">


<div>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">hand from the
offering of the Shares or (ii)&nbsp;if the allocation provided by clause (i)&nbsp;above
is not permitted by applicable law, in such proportion as is appropriate to
reflect not only the relative benefits referred to in clause (i)&nbsp;above but
also the relative fault of the Company on the one hand and of the Underwriters
on the other in connection with the statements or omissions which resulted in
such losses, damages, expenses, liabilities or claims, as well as any other
relevant equitable considerations.&#160; The
relative benefits received by the Company on the one hand and the Underwriters
on the other shall be deemed to be in the same respective proportion as the
total proceeds from the offering (net of underwriting discounts and commissions
but before deducting expenses) received by the Company and the total
underwriting discounts and commissions received by the Underwriters, bear to
the aggregate public offering price of the Shares.&#160; The relative fault of the Company on the one
hand and of the Underwriters on the other shall be determined by reference to,
among other things, whether the untrue statement or alleged untrue statement of
a material fact or omission or alleged omission relates to information supplied
by the Company on the one hand or by the Underwriters on the other and the
parties&#146; relative intent, knowledge, access to information and opportunity to
correct or prevent such statement or omission.&#160;
The amount paid or payable by a party as a result of the losses,
damages, expenses, liabilities and claims referred to in this subsection shall
be deemed to include any legal or other fees or expenses reasonably incurred by
such party in connection with investigating, preparing to defend or defending
any claim or Proceeding.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Company and the
Underwriters agree that it would not be just and equitable if contribution
pursuant to this Section&nbsp;10 were determined by pro rata allocation (even
if the Underwriters were treated as one entity for such purpose) or by any
other method of allocation that does not take account of the equitable considerations
referred to in subsection (d)&nbsp;above.&#160;
Notwithstanding the provisions of this Section&nbsp;10, no Underwriter
shall be required to contribute any amount in excess of the amount by which the
total price at which the Shares underwritten by such Underwriter and
distributed to the public were offered to the public exceeds the amount of any
damage which such Underwriter has otherwise been required to pay by reason of
such untrue statement or alleged untrue statement or omission or alleged
omission.&#160; No person guilty of fraudulent
misrepresentation (within the meaning of Section&nbsp;11(f)&nbsp;of the Act)
shall be entitled to contribution from any person who was not guilty of such
fraudulent misrepresentation.&#160; The
Underwriters&#146; obligations to contribute pursuant to this Section&nbsp;10 are
several in proportion to their respective underwriting commitments and not
joint.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The indemnity and
contribution agreements contained in this Section&nbsp;10 and the covenants,
warranties and representations of the Company contained in this Agreement shall
remain in full force and effect regardless of any investigation made by or on
behalf of any Underwriter, its partners, directors, officers, employees or
agents or any person (including each partner, officer, director, employee or
agent of such person) who controls any Underwriter within the meaning of Section&nbsp;15
of the Act or Section&nbsp;20 of the Exchange Act, or by or on behalf of the
Company, its trustees, officers, employees or agents or any person who controls
the Company within the meaning of Section&nbsp;15 of the Act or Section&nbsp;20
of the Exchange Act and shall survive any termination of this Agreement or the
issuance and delivery of the Shares.&#160; The
Company </font></h2>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">31</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='31',FILE='C:\JMS\105836\09-2842-4\task3334671\2842-4-kc-05.htm',USER='105836',CD='Feb  4 23:41 2009' -->


<br clear="all" style="page-break-before:always;">


<div>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">and each
Underwriter agree promptly to notify each other of the commencement of any
Proceeding against it and, in the case of the Company, against any of the
Company&#146;s officers, trustees, employees or agents in connection with the
issuance and sale of the Shares, or in connection with the Registration
Statement, any Prepricing Prospectus, the Prospectus or any Permitted Free
Writing Prospectus.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h1 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Notices</u>.&#160; Except as otherwise herein provided, all
statements, requests, notices and agreements shall be in writing or by telegram
and, if to the Underwriters, shall be sufficient in all respects if delivered
or sent to UBS Securities LLC, 299 Park Avenue, New York, New York 10171,
Attention: Syndicate Department, with a copy to Dewey&nbsp;&amp; LeBoeuf LLP,
1301 Avenue of the Americas, New York, New York 10019, Attention: Donald J.
Murray,&nbsp;Esq.; and if to the Company, shall be sufficient in all respects
if delivered or sent to the Company at the offices of the Company at 400 Centre
Street, Newton, Massachusetts 02458, Attention: David J. Hegarty, President and
Chief Operating Officer, with a copy to Sullivan&nbsp;&amp; Worcester LLP, One
Post Office Square, Boston, Massachusetts 02109, Attention: Alexander A.
Notopoulos,&nbsp;Jr.,&nbsp;Esq.</font></h1>

<h1 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h1>

<h1 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Governing Law;
Construction</u>.&#160; This Agreement and any
claim, counterclaim or dispute of any kind or nature whatsoever arising out of
or in any way relating to this Agreement (a &#147;Claim&#148;), directly or indirectly,
shall be governed by, and construed in accordance with, the laws of the State
of New York.&#160; The Section&nbsp;headings
in this Agreement have been inserted as a matter of convenience of reference
and are not a part of this Agreement.</font></h1>

<h1 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h1>

<h1 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Submission to
Jurisdiction</u>.&#160; Except as set forth
below, no Claim may be commenced, prosecuted or continued in any court other
than the courts of the State of New York located in the City and County of New
York or in the United States District Court for the Southern District of New
York, which courts shall have jurisdiction over the adjudication of such
matters, and the Company consents to the jurisdiction of such courts and
personal service with respect thereto.&#160;
The Company hereby consents to personal jurisdiction, service and venue
in any court in which any Claim arising out of or in any way relating to this
Agreement is brought by any third party against an Underwriter or any
indemnified party.&#160; Each of the
Underwriters and the Company (on its behalf and, to the extent permitted by
applicable law, on behalf of its shareholders and affiliates) waives all right
to trial by jury in any action, proceeding or counterclaim (whether based upon
contract, tort or otherwise) in any way arising out of or relating to this
Agreement.&#160; The Company agrees that a
final judgment in any such action, proceeding or counterclaim brought in any
such court shall be conclusive and binding upon the Company, and may be
enforced in any other courts to the jurisdiction of which the Company is or may
be subject, by suit upon such judgment.</font></h1>

<h1 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h1>

<h1 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Parties at
Interest</u>.&#160; The Agreement herein set
forth has been and is made solely for the benefit of the Underwriters, the
Company and, to the extent provided in Section&nbsp;10 hereof, the controlling
persons, directors and officers and, if applicable, trustees referred to in
such Section, and their respective successors, assigns, heirs, personal
representatives and executors and administrators.&#160; No other person, partnership, </font></h1>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">32</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='32',FILE='C:\JMS\105836\09-2842-4\task3334671\2842-4-kc-05.htm',USER='105836',CD='Feb  4 23:41 2009' -->


<br clear="all" style="page-break-before:always;">


<div>

<h1 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h1>

<h1 style="font-weight:normal;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">association or
corporation (including a purchaser, as such purchaser, from any of the
Underwriters) shall acquire or have any right under or by virtue of this
Agreement.</font></h1>

<h1 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h1>

<h1 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">15.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Information
Furnished by the Underwriters</u>.&#160; The
statements set forth in the fourth, seventh and eighth paragraphs, and in the
section entitled &#147;Price stabilization, short positions,&#148; under the caption &#147;Underwriting&#148;
in the Prospectus Supplement, insofar as such statements relate to (a)&nbsp;electronic
delivery of prospectuses, (b)&nbsp;the amount of selling concession and
reallowance, (c)&nbsp;sales of shares made outside of the United States may be
made by the Underwriters&#146; affiliates and (d)&nbsp;price stabilization and short
positions, constitute the only information furnished by or on behalf of the
Underwriters as such information is referred to in Sections 3, 4 and 10 hereof.</font></h1>

<h1 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h1>

<h1 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">16.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>No Fiduciary
Relationship</u>.&#160; The Company hereby
acknowledges that the Underwriters are acting solely as underwriters in
connection with the purchase and sale of the Company&#146;s securities.&#160; The Company further acknowledges that the
Underwriters are acting pursuant to a contractual relationship created solely
by this Agreement entered into on an arm&#146;s length basis, and in no event do the
parties intend that the Underwriters act or be responsible as a fiduciary to
the Company, its management, stockholders or creditors or any other person in
connection with any activity that the Underwriters may undertake or have
undertaken in furtherance of the purchase and sale of the Company&#146;s securities,
either before or after the date hereof.&#160;
The Underwriters hereby expressly disclaim any fiduciary or similar
obligations to the Company, either in connection with the transactions
contemplated by this Agreement or any matters leading up to such transactions,
and the Company hereby confirms its understanding and agreement to that effect.&#160; The Company and the Underwriters agree that
they are each responsible for making their own independent judgments with
respect to any such transactions and that any opinions or views expressed by
the Underwriters to the Company regarding such transactions, including, but not
limited to, any opinions or views with respect to the price or market for the
Company&#146;s securities, do not constitute advice or recommendations to the
Company.&#160; The Company and the
Underwriters agree that the Underwriters are acting as principals and not as the
agents or fiduciaries of the Company and the Underwriters have not assumed and
will not assume any advisory responsibility in favor of the Company with
respect to the transactions contemplated hereby or the process leading thereto
(irrespective of whether the Underwriters have advised or are currently
advising the Company on other matters).&#160;
The Company hereby waives and releases, to the fullest extent permitted
by law, any claims that the Company may have against the Underwriters with
respect to any breach or alleged breach of any fiduciary, advisory or similar
duty to the Company in connection with the transactions contemplated by this
Agreement or any matters leading up to such transactions.</font></h1>

<h1 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h1>

<h1 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">17.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Counterparts</u>.&#160; This Agreement may be signed by the parties
in one or more counterparts that together shall constitute one and the same
agreement among the parties.</font></h1>

<h1 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h1>

<h1 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">18.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Successors and
Assigns</u>.&#160; This Agreement shall be
binding upon the Underwriters and the Company and their respective successors
and assigns and any </font></h1>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">33</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='33',FILE='C:\JMS\105836\09-2842-4\task3334671\2842-4-kc-05.htm',USER='105836',CD='Feb  4 23:41 2009' -->


<br clear="all" style="page-break-before:always;">


<div>

<h1 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h1>

<h1 style="font-weight:normal;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">successor or
assign of any substantial portion of the Company&#146;s and any of the Underwriters&#146;
respective businesses and/or assets.</font></h1>

<h1 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h1>

<h1 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">19.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Miscellaneous</u>.&#160; UBS Securities LLC, an indirect, wholly-owned
subsidiary of UBS AG, is not a bank and is separate from any affiliated bank,
including any U.S. branch or agency of UBS AG. Because UBS Securities LLC is a
separately organized entity, it is solely responsible for its own contractual
obligations and commitments, including obligations with respect to sales and
purchases of securities.&#160; Securities
sold, offered or recommended by UBS Securities LLC are not deposits, are not
insured by the Federal Deposit Insurance Corporation, are not guaranteed by a
branch or agency, and are not otherwise an obligation or responsibility of a
branch or agency.</font></h1>

<h1 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h1>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Lending affiliates of UBS Securities LLC and Morgan Stanley&nbsp;&amp;
Co. Incorporated may have lending relationships with issuers of securities
underwritten or privately placed by UBS Securities LLC and Morgan Stanley&nbsp;&amp;
Co. Incorporated.&#160; To the extent required
under the securities laws, prospectuses and other disclosure documents for
securities underwritten or privately placed by UBS Securities LLC and Morgan
Stanley&nbsp;&amp; Co. Incorporated will disclose the existence of any such
lending relationships and whether the proceeds of the issue will be used to
repay debts owed to affiliates of UBS Securities LLC and Morgan Stanley&nbsp;&amp;
Co. Incorporated.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">THE ARTICLES OF AMENDMENT AND RESTATEMENT ESTABLISHING SENIOR HOUSING
PROPERTIES TRUST, DATED SEPTEMBER 20, 1999, A COPY OF WHICH, TOGETHER WITH ALL
AMENDMENTS AND SUPPLEMENTS THERETO, IS DULY FILED IN THE OFFICE OF THE STATE
DEPARTMENT OF ASSESSMENTS AND TAXATION OF MARYLAND, PROVIDES THAT THE NAME &#147;SENIOR
HOUSING PROPERTIES TRUST&#148; REFERS TO THE TRUSTEES UNDER THE DECLARATION OF
TRUST, AS SO AMENDED AND SUPPLEMENTED, AS TRUSTEES, BUT NOT INDIVIDUALLY OR
PERSONALLY, AND THAT NO TRUSTEE, OFFICER, SHAREHOLDER, EMPLOYEE OR AGENT OF
SENIOR HOUSING PROPERTIES TRUST SHALL BE HELD TO ANY PERSONAL LIABILITY, FOR
ANY OBLIGATION OF, OR CLAIM AGAINST, SENIOR HOUSING PROPERTIES TRUST.&#160; ALL PERSONS DEALING WITH SENIOR HOUSING
PROPERTIES TRUST, SHALL LOOK ONLY TO THE ASSETS OF SENIOR HOUSING PROPERTIES
TRUST FOR THE PAYMENT OF ANY SUM OR THE PERFORMANCE OF ANY OBLIGATION.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;font-weight:bold;">[Remainder of Page&nbsp;Intentionally
Left Blank; Signature Page&nbsp;Follows.]</font></i></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">34</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='34',FILE='C:\JMS\105836\09-2842-4\task3334671\2842-4-kc-05.htm',USER='105836',CD='Feb  4 23:41 2009' -->


<br clear="all" style="page-break-before:always;">


<div>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If the foregoing correctly sets forth the understanding among the Company
and the Underwriters, please so indicate in the space provided below for the
purpose, whereupon this letter and your acceptance shall constitute a binding
agreement between the Company and the Underwriters severally.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Very truly yours,</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SENIOR HOUSING PROPERTIES TRUST</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="46%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:46.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Richard A. Doyle</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="46%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:46.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name: Richard A. Doyle</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="46%" valign="top" style="padding:0in 0in 0in 0in;width:46.5%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title: Treasurer and Chief Financial Officer</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">35</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='35',FILE='C:\JMS\105836\09-2842-4\task3334671\2842-4-kc-05.htm',USER='105836',CD='Feb  4 23:41 2009' -->


<br clear="all" style="page-break-before:always;">


<div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Accepted
and agreed to as of the</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">date
first above written, on</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">behalf
of themselves</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">and
the other several Underwriters</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">named
in Schedule A</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">UBS SECURITIES LLC<br>
CITIGROUP GLOBAL MARKETS INC.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">MORGAN STANLEY&nbsp;&amp; CO. INCORPORATED</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">WACHOVIA
CAPITAL MARKETS, LLC</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">RBC CAPITAL MARKETS CORPORATION</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ROBERT
W. BAIRD&nbsp;&amp; CO. INCORPORATED</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">JANNEY MONTGOMERY SCOTT LLC</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">MORGAN KEEGAN&nbsp;&amp; COMPANY, INC.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">OPPENHEIMER&nbsp;&amp; CO. INC.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="44%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:44.76%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">UBS SECURITIES LLC</font></p>
  </td>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.98%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.26%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="44%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:44.76%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.98%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.26%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="44%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:44.76%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.98%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.32%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="41%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:41.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Sage Kelly</font></p>
  </td>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.98%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.32%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="41%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:41.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name: Sage Kelly</font></p>
  </td>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.98%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.32%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="41%" valign="top" style="padding:0in 0in 0in 0in;width:41.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title: Managing Director</font></p>
  </td>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.98%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.32%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="41%" valign="top" style="padding:0in 0in 0in 0in;width:41.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.98%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.32%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="41%" valign="top" style="padding:0in 0in 0in 0in;width:41.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.98%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.32%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="41%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:41.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Kristin Kusmierz</font></p>
  </td>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.98%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.32%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="41%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:41.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name: Kristin Kusmierz</font></p>
  </td>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.98%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.32%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="41%" valign="top" style="padding:0in 0in 0in 0in;width:41.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title: Director</font></p>
  </td>
  <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.98%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">36</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='36',FILE='C:\JMS\105836\09-2842-4\task3334671\2842-4-kc-05.htm',USER='105836',CD='Feb  4 23:41 2009' -->



<br clear="all" style="page-break-before:always;">
<div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SCHEDULE A</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="79%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:79.36%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Underwriters</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.98%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="17%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:17.86%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Number&nbsp;of&nbsp;Firm<br>
  Shares</font></b></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0in 0in 0in 0in;width:.8%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="79%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:79.36%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.98%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="bottom" style="border:none;padding:0in 0in 0in 0in;width:17.86%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0in 0in 0in 0in;width:.8%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="79%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:79.36%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">UBS Securities
  LLC</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.98%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:17.86%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,230,500</font></p>
  </td>
  <td width="0%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:.8%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="79%" valign="top" style="padding:0in 0in 0in 0in;width:79.36%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Citigroup Global
  Markets Inc.</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.98%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="bottom" style="padding:0in 0in 0in 0in;width:17.86%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,230,500</font></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0in 0in 0in 0in;width:.8%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="79%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:79.36%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Morgan
  Stanley&nbsp;&amp; Co. Incorporated</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.98%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:17.86%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,230,500</font></p>
  </td>
  <td width="0%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:.8%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="79%" valign="top" style="padding:0in 0in 0in 0in;width:79.36%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Wachovia Capital
  Markets, LLC</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.98%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="bottom" style="padding:0in 0in 0in 0in;width:17.86%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">615,250</font></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0in 0in 0in 0in;width:.8%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="79%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:79.36%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">RBC Capital
  Markets Corporation</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.98%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:17.86%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">454,750</font></p>
  </td>
  <td width="0%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:.8%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="79%" valign="top" style="padding:0in 0in 0in 0in;width:79.36%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Robert W.
  Baird&nbsp;&amp; Co. Incorporated</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.98%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="bottom" style="padding:0in 0in 0in 0in;width:17.86%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">147,125</font></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0in 0in 0in 0in;width:.8%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="79%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:79.36%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Janney
  Montgomery Scott LLC</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.98%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:17.86%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">147,125</font></p>
  </td>
  <td width="0%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:.8%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="79%" valign="top" style="padding:0in 0in 0in 0in;width:79.36%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Morgan
  Keegan&nbsp;&amp; Company, Inc.</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.98%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="bottom" style="padding:0in 0in 0in 0in;width:17.86%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">147,125</font></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0in 0in 0in 0in;width:.8%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="79%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:79.36%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Oppenheimer&nbsp;&amp;
  Co. Inc.</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.98%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:17.86%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">147,125</font></p>
  </td>
  <td width="0%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:.8%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="79%" valign="top" style="padding:0in 0in 0in 0in;width:79.36%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">BB&amp;T Capital
  Markets, a division of Scott&nbsp;&amp; Stringfellow, Inc.</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.98%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="bottom" style="padding:0in 0in 0in 0in;width:17.86%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10,000</font></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0in 0in 0in 0in;width:.8%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="79%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:79.36%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">BNY Mellon
  Capital Markets, LLC</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.98%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:17.86%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10,000</font></p>
  </td>
  <td width="0%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:.8%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="79%" valign="top" style="padding:0in 0in 0in 0in;width:79.36%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Comerica
  Securities,&nbsp;Inc.</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.98%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="bottom" style="padding:0in 0in 0in 0in;width:17.86%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10,000</font></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0in 0in 0in 0in;width:.8%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="79%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:79.36%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Crowell,
  Weedon&nbsp;&amp; Co.</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.98%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:17.86%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10,000</font></p>
  </td>
  <td width="0%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:.8%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="79%" valign="top" style="padding:0in 0in 0in 0in;width:79.36%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Dominick&nbsp;&amp;
  Dominick LLC</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.98%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="bottom" style="padding:0in 0in 0in 0in;width:17.86%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10,000</font></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0in 0in 0in 0in;width:.8%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="79%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:79.36%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">E*Trade
  Securities LLC</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.98%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:17.86%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10,000</font></p>
  </td>
  <td width="0%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:.8%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="79%" valign="top" style="padding:0in 0in 0in 0in;width:79.36%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Huntleigh
  Securities Corporation</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.98%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="bottom" style="padding:0in 0in 0in 0in;width:17.86%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10,000</font></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0in 0in 0in 0in;width:.8%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="79%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:79.36%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Johnston,
  Lemon&nbsp;&amp; Co. Incorporated</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.98%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:17.86%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10,000</font></p>
  </td>
  <td width="0%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:.8%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="79%" valign="top" style="padding:0in 0in 0in 0in;width:79.36%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Natcity Investments,&nbsp;Inc.</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.98%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="bottom" style="padding:0in 0in 0in 0in;width:17.86%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10,000</font></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0in 0in 0in 0in;width:.8%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="79%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:79.36%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Newbridge
  Securities Corporation</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.98%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:17.86%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10,000</font></p>
  </td>
  <td width="0%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:.8%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="79%" valign="top" style="padding:0in 0in 0in 0in;width:79.36%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Regal
  Securities,&nbsp;Inc.</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.98%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="bottom" style="padding:0in 0in 0in 0in;width:17.86%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10,000</font></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0in 0in 0in 0in;width:.8%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="79%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:79.36%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SG Americas
  Securities, LLC</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.98%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:17.86%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10,000</font></p>
  </td>
  <td width="0%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:.8%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="79%" valign="top" style="padding:0in 0in 0in 0in;width:79.36%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SMH Capital Inc.</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.98%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="bottom" style="padding:0in 0in 0in 0in;width:17.86%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10,000</font></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0in 0in 0in 0in;width:.8%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="79%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:79.36%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Suntrust
  Robinson Humphrey</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.98%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:17.86%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10,000</font></p>
  </td>
  <td width="0%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:.8%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="79%" valign="top" style="padding:0in 0in 0in 0in;width:79.36%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Wedbush Morgan
  Securities Inc.</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.98%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="bottom" style="padding:0in 0in 0in 0in;width:17.86%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10,000</font></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0in 0in 0in 0in;width:.8%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="79%" valign="top" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:79.36%;">
  <p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:1.98%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:17.86%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="0%" valign="bottom" bgcolor="#CCEEFF" style="background:#CCEEFF;padding:0in 0in 0in 0in;width:.8%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="79%" valign="top" style="padding:0in 0in 0in 0in;width:79.36%;">
  <p style="margin:0in 0in .0001pt 1.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Total</font></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.98%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="17%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:17.86%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5,500,000</font></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0in 0in 0in 0in;width:.8%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-1</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='A-1',FILE='C:\JMS\105830\09-2842-4\task3335172\2842-4-kc-07.htm',USER='105830',CD='Feb  5 02:57 2009' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SCHEDULE B</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">PERMITTED FREE WRITING PROSPECTUSES</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">None.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">B-1</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='B-1',FILE='C:\JMS\105830\09-2842-4\task3335172\2842-4-kc-07.htm',USER='105830',CD='Feb  5 02:57 2009' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SCHEDULE C</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="100%" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Significant
  Subsidiaries</font></u></p>
  </td>
 </tr>
 <tr>
  <td width="100%" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="100%" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Schedule omitted.</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">C-1</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='C-1',FILE='C:\JMS\105830\09-2842-4\task3335172\2842-4-kc-07.htm',USER='105830',CD='Feb  5 02:57 2009' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SCHEDULE D</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Foreign Qualifications of the Company and Significant
Subsidiaries</font></u></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Schedule
omitted.</font></p>

<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">D-1</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='D-1',FILE='C:\JMS\105830\09-2842-4\task3335172\2842-4-kc-07.htm',USER='105830',CD='Feb  5 02:57 2009' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SCHEDULE E</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Maryland Significant Subsidiaries</font></u></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Schedule omitted.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">E-1</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='E-1',FILE='C:\JMS\105830\09-2842-4\task3335172\2842-4-kc-07.htm',USER='105830',CD='Feb  5 02:57 2009' -->



<br clear="all" style="page-break-before:always;">
<div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">EXHIBIT A</font></u></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Senior Housing Properties Trust<br>
Common Shares of Beneficial Interest<br>
(Par Value $0.01 Per Share)</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">February&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2009</font></p>

<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">UBS Securities LLC<br>
</font>Citigroup Global Markets Inc.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Morgan
Stanley&nbsp;&amp; Co. Incorporated</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Wachovia
Capital Markets, LLC</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">RBC
Capital Markets Corporation</font></p>

<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Together with the other
underwriters</font></p>

<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">named in Schedule A to
the Underwriting</font></p>

<p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Agreement referred to
herein</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">c/o
UBS Securities LLC<br>
299 Park Avenue<br>
New York, New York 10171</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">c/o
Citigroup Global Markets Inc.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">388
Greenwich Street</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">New
York, New York 10013</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">c/o
Morgan Stanley&nbsp;&amp; Co. Incorporated</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1585
Broadway</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">New York, New York 10036</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Ladies
and Gentlemen:</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This
Lock-Up Letter Agreement is being delivered to you in connection with the
proposed Underwriting Agreement (the &#147;Underwriting Agreement&#148;) to be entered
into between Senior Housing Properties Trust (the &#147;Company&#148;) and you and the
other underwriters named in Schedule A to the Underwriting Agreement
(collectively, the &#147;Underwriters&#148;), with respect to the public offering (the &#147;Offering&#148;)
of common shares of beneficial interest, par value $0.01 per share, of the
Company (the &#147;Common Shares&#148;).</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In
order to induce you to enter into the Underwriting Agreement, the undersigned
agrees that for a period from the date hereof until the end of 60 days after
the date of the final prospectus supplement relating to the Offering the
undersigned will not, without the prior written consent of UBS Securities LLC (&#147;UBS&#148;),
(i)&nbsp;sell, offer to sell, contract or agree to sell, hypothecate, pledge,
grant any option to purchase or otherwise dispose of or agree to dispose of,
directly or indirectly, or file (or participate in the filing of) a
registration statement with the Securities and Exchange Commission (the &#147;Commission&#148;)
in respect of, or establish or increase a put equivalent position or </font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-1</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='A-1',FILE='C:\JMS\105569\09-2842-4\task3335181\2842-4-kc-09.htm',USER='105569',CD='Feb  5 03:11 2009' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">liquidate
or decrease a call equivalent position within the meaning of Section&nbsp;16 of
the Securities Exchange Act of 1934, as amended, and the rules&nbsp;and
regulations of the Commission promulgated thereunder with respect to, any
Common Shares of the Company or any securities convertible into or exercisable
or exchangeable for Common Shares, or warrants or other rights to purchase
Common Shares, (ii)&nbsp;enter into any swap or other arrangement that
transfers to another, in whole or in part, any of the economic consequences of
ownership of Common Shares or any securities convertible into or exercisable or
exchangeable for Common Shares, or warrants or other rights to purchase Common
Shares, whether any such transaction is to be settled by delivery of Common
Shares or such other securities, in cash or otherwise, or (iii)&nbsp;publicly
announce an intention to effect any transaction specified in clause (i)&nbsp;or
(ii).</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Notwithstanding the above,
if (a)&nbsp;during the period that begins on the date that is fifteen (15)
calendar days plus three (3)&nbsp;business days before the last day of the
Lock-Up Period and ends on the last day of the Lock-Up Period, the Company
issues an earnings release or material news or a material event relating to the
Company occurs; or (b)&nbsp;prior to the expiration of the Lock-Up Period, the
Company announces that it will release earnings results during the sixteen (16)
day period beginning on the last day of the Lock-Up Period, then the
restrictions imposed by this Lock-Up Agreement shall continue to apply until
the expiration of the date that is fifteen (15) calendar days plus three (3)&nbsp;business
days after the date on which the issuance of the earnings release or the
material news or material event occurs</font>.</p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
foregoing restrictions shall not apply to (a)&nbsp;the registration of or sale
to the Underwriters of any Common Shares pursuant to the Offering and the
Underwriting Agreement, (b)&nbsp;bona fide gifts, provided the recipient or recipients
thereof agree in writing with the Underwriters to be bound by the terms of this
Lock-Up Letter Agreement, or (c)&nbsp;dispositions to any trust for the direct
or indirect benefit of the undersigned and/or the immediate family of the
undersigned, provided that such trust agrees in writing with the Underwriters
to be bound by the terms of this Lock-Up Letter Agreement.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In
addition, the undersigned hereby waives any rights the undersigned may have to
require registration of Common Shares in connection with the filing of a
registration statement relating to the Offering.&nbsp; The undersigned further
agrees that, for a period from the date hereof until the end of 60 days after
the date of the final prospectus relating to the Offering, the undersigned will
not, without the prior written consent of UBS, make any demand for, or exercise
any right with respect to, the registration of Common Shares of the Company or
any securities convertible into or exercisable or exchangeable for Common
Shares, or warrants or other rights to purchase Common Shares.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If
(i)&nbsp;the Company notifies you in writing that it does not intend to proceed
with the Offering, (ii)&nbsp;the registration statement filed with the
Securities and Exchange Commission with respect to the Offering is withdrawn or
(iii)&nbsp;for any reason the Underwriting Agreement shall be terminated prior
to the time of purchase (as defined in </font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-2</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='A-2',FILE='C:\JMS\105569\09-2842-4\task3335181\2842-4-kc-09.htm',USER='105569',CD='Feb  5 03:11 2009' -->


<br clear="all" style="page-break-before:always;">


<div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">the
Underwriting Agreement), this Lock-Up Letter Agreement shall be terminated and
the undersigned shall be released from its obligations hereunder.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="50%" valign="top" style="padding:0in .7pt 0in .7pt;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0in .7pt 0in .7pt;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Yours
  very truly,</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in .7pt 0in .7pt;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0in .7pt 0in .7pt;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in .7pt 0in .7pt;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in .7pt 0in .7pt;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A-3</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='A-3',FILE='C:\JMS\105569\09-2842-4\task3335181\2842-4-kc-09.htm',USER='105569',CD='Feb  5 03:11 2009' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">EXHIBIT B</font></u></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">FORM OF OPINION OF COMPANY COUNSEL TO BE DELIVERED
PURSUANT TO SECTION 7(a)</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">B-1</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='B-1',FILE='C:\JMS\105569\09-2842-4\task3335181\2842-4-kc-09.htm',USER='105569',CD='Feb  5 03:11 2009' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">EXHIBIT C</font></u></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">FORM OF OPINION OF SPECIAL MARYLAND COUNSEL TO THE
COMPANY TO BE DELIVERED PURSUANT TO SECTION 7(b)</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">C-1</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='C-1',FILE='C:\JMS\105569\09-2842-4\task3335181\2842-4-kc-09.htm',USER='105569',CD='Feb  5 03:11 2009' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">EXHIBIT D</font></u></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">FORM OF OFFICER&#146;S CERTIFICATE TO BE DELIVERED BY THE
CHIEF FINANCIAL OFFICER OF THE COMPANY PURSUANT TO SECTION 7(1)</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">D-1</font></p>

<div align="left" style="margin:0in 0in .0001pt;text-align:left;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='D-1',FILE='C:\JMS\105569\09-2842-4\task3335181\2842-4-kc-09.htm',USER='105569',CD='Feb  5 03:11 2009' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Certain Schedules and Exhibits to this agreement
have been omitted and will be furnished supplementally to the Securities
Exchange Commission upon request.</font></b></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<div align="left" style="margin:0in 0in .0001pt;text-align:left;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\105569\09-2842-4\task3335181\2842-4-kc-09.htm',USER='105569',CD='Feb  5 03:11 2009' -->


</body>

</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>3
<FILENAME>a09-2842_4ex5d1.htm
<DESCRIPTION>EX-5.1
<TEXT>

<html>

<head>





</head>

<body lang="EN-US">

<div>

<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 5.1</font></b></p>

<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman">&nbsp;</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">[LETTERHEAD OF VENABLE LLP]</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">February&nbsp;4, 2009</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Senior Housing
Properties Trust<br>
400 Centre Street<br>
Newton, Massachusetts&#160; 02458</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt 1.5in;text-autospace:none;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Re:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Registration
Statement on Form&nbsp;S-3 (File No.&nbsp;333-135716)</u></font></p>

<p style="margin:0in 0in .0001pt 1.5in;text-autospace:none;text-indent:-.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Ladies and
Gentlemen:</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We have served
as Maryland counsel to Senior Housing Properties Trust, a Maryland real estate
investment trust (the &#147;Company&#148;), in connection with certain matters of
Maryland law arising out of the sale and issuance of up to 6,325,000 common
shares (the &#147;Shares&#148;) of beneficial interest, $.01 par value per share, of the
Company (including up to 825,000 Shares which the underwriters in the Offering
(as defined herein) have the option to purchase solely to cover
over-allotments) in an underwritten public offering (the &#147;Offering&#148;), covered
by the above-referenced Registration Statement, and all amendments thereto (the
&#147;Registration Statement&#148;), filed by the Company with the United States
Securities and Exchange Commission (the &#147;Commission&#148;) under the Securities Act
of 1933, as amended (the &#147;1933 Act&#148;).</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In connection
with our representation of the Company, and as a basis for the opinion
hereinafter set forth, we have examined originals, or copies certified or
otherwise identified to our satisfaction, of the following documents (collectively,
the &#147;Documents&#148;):</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The
Registration Statement and the Prospectus included therein;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The
Prospectus Supplement, dated February&nbsp;4, 2009 (the &#147;Prospectus Supplement&#148;),
in the form to be filed by the Company with the Commission pursuant to Rule&nbsp;424(b)&nbsp;under
the 1933 Act;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The
Amended and Restated Declaration of Trust of the Company, as amended and
supplemented (the &#147;Declaration of Trust&#148;), certified as of a recent date by the
State Department of Assessments and Taxation of Maryland (the &#147;SDAT&#148;);</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The
Bylaws of the Company, certified as of the date hereof by an officer of the
Company;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; A
certificate of the SDAT as to the good standing of the Company, dated as of a
recent date;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\105685\09-2842-4\task3334524\2842-4-ke.htm',USER='105685',CD='Feb  4 23:05 2009' -->


<br clear="all" style="page-break-before:always;">


<div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Resolutions
adopted by the Board of Trustees of the Company, or a duly authorized committee
thereof, relating to the authorization of the issuance of the Shares (the &#147;Resolutions&#148;),
certified as of the date hereof by an officer of the Company;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; A
certificate executed by an officer of the Company, dated as of the date hereof;
and</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Such
other documents and matters as we have deemed necessary or appropriate to
express the opinion set forth below, subject to the assumptions, limitations
and qualifications stated herein.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In expressing
the opinion set forth below, we have assumed the following:</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Each individual
executing any of the Documents, whether on behalf of such individual or another
person, is legally competent to do so.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Each
individual executing any of the Documents on behalf of a party (other than the
Company) is duly authorized to do so.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Each
of the parties (other than the Company) executing any of the Documents has duly
and validly executed and delivered each of the Documents to which such party is
a signatory, and such party&#146;s obligations set forth therein are legal, valid
and binding and are enforceable in accordance with all stated terms.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; All
Documents submitted to us as originals are authentic.&#160; The form and content of all Documents
submitted to us as unexecuted drafts do not differ in any respect relevant to
this opinion from the form and content of such Documents as executed and
delivered.&#160;&#160;&#160; All Documents submitted to
us as certified or photostatic copies conform to the original documents.&#160; All signatures on all such Documents are genuine.&#160; All public records reviewed or relied upon by
us or on our behalf are true and complete.&#160;
All representations, warranties, statements and information contained in
the Documents are true and complete.&#160;
There has been no oral or written modification of or amendment to any of
the Documents, and there has been no waiver of any provision of any of the
Documents, by action or omission of the parties or otherwise.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The
Shares will not be issued in violation of any restriction or limitation
contained in Article&nbsp;VII (Restriction on Transfer and Ownership of Shares)
of the Declaration of Trust.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>

<div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='2',FILE='C:\JMS\105685\09-2842-4\task3334524\2842-4-ke.htm',USER='105685',CD='Feb  4 23:05 2009' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Based upon the
foregoing, and subject to the assumptions, limitations and qualifications
stated herein, it is our opinion that:</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Company is a
real estate investment trust duly formed and existing under and by virtue of
the laws of the State of Maryland and is in good standing with the SDAT.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The
issuance of the Shares has been duly authorized and, when issued and delivered
by the Company pursuant to the Resolutions and the Registration Statement
against payment of the consideration set forth therein, the Shares will be
validly issued, fully paid and nonassessable.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The foregoing
opinion is limited to the laws of the State of Maryland and we do not express
any opinion herein concerning any other law.&#160;
We express no opinion as to compliance with, or the applicability of,
federal or state securities laws, including the securities laws of the State of
Maryland.&#160; The opinion expressed herein
is subject to the effect of judicial decisions which may permit the
introduction of parol evidence to modify the terms or the interpretation of
agreements.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The opinion
expressed herein is limited to the matters specifically set forth herein and no
other opinion shall be inferred beyond the matters expressly stated.&#160; We assume no obligation to supplement this
opinion if any applicable law changes after the date hereof or if we become aware
of any fact that might change the opinion expressed herein after the date
hereof.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This opinion
is being furnished to you for submission to the Commission as an exhibit to the
Company&#146;s Current Report on Form&nbsp;8-K relating to the Offering (the &#147;Current
Report&#148;), which is incorporated by reference in the Registration
Statement.&#160; We hereby consent to the
filing of this opinion as an exhibit to the Current Report and the said
incorporation by reference and to the use of the name of our firm therein.&#160; In giving this consent, we do not admit that
we are within the category of persons whose consent is required by Section&nbsp;7
of the 1933 Act.</font></p>

<p style="margin:0in 0in .0001pt;text-autospace:none;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="54%" valign="top" style="padding:0in 0in 0in 0in;width:54.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" valign="top" style="padding:0in 0in 0in 0in;width:45.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Very truly yours,</font></p>
  </td>
 </tr>
 <tr>
  <td width="54%" valign="top" style="padding:0in 0in 0in 0in;width:54.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" valign="top" style="padding:0in 0in 0in 0in;width:45.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="54%" valign="top" style="padding:0in 0in 0in 0in;width:54.44%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" valign="top" style="padding:0in 0in 0in 0in;width:45.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Venable LLP</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='3',FILE='C:\JMS\105685\09-2842-4\task3334524\2842-4-ke.htm',USER='105685',CD='Feb  4 23:05 2009' -->


</body>

</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-8.1
<SEQUENCE>4
<FILENAME>a09-2842_4ex8d1.htm
<DESCRIPTION>EX-8.1
<TEXT>

<html>

<head>





</head>

<body lang="EN-US">

<div>

<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit&nbsp;8.1</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="44%" rowspan="3" valign="top" style="padding:0in .7pt 0in .7pt;width:44.6%;">
  <p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman"><img width="160" height="49" src="g28424kii001.jpg"></font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.86%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="29%" valign="top" style="padding:0in .7pt 0in .7pt;width:29.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Sullivan &amp;
  Worcester LLP</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.86%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="20%" valign="top" style="padding:0in .7pt 0in .7pt;width:20.3%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">T 617 338 2800</font></p>
  </td>
 </tr>
 <tr>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.86%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="29%" valign="top" style="padding:0in .7pt 0in .7pt;width:29.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">One Post Office
  Square</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.86%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="20%" valign="top" style="padding:0in .7pt 0in .7pt;width:20.3%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">F 617 338 2880</font></p>
  </td>
 </tr>
 <tr>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.86%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="29%" valign="top" style="padding:0in .7pt 0in .7pt;width:29.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Boston, MA 02109</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.86%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="20%" valign="top" style="padding:0in .7pt 0in .7pt;width:20.3%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">www.sandw.com</font></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:3.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;February&nbsp;4,
2009</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Senior Housing Properties
Trust</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">400 Centre Street</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Newton, Massachusetts
02458</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Ladies and Gentlemen:</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
following opinion is furnished to Senior Housing Properties Trust, a Maryland
real estate investment trust (the &#147;Company&#148;), to be filed with the Securities
and Exchange Commission (the &#147;SEC&#148;) as Exhibit&nbsp;8.1 to the Company&#146;s
Current Report on Form&nbsp;8-K to be filed within one week of the date hereof
(the &#147;Form&nbsp;8-K&#148;) under the Securities Exchange Act of 1934, as amended.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We have acted as counsel for the Company in connection
with its Registration Statement on Form&nbsp;S-3, File No.&nbsp;333-135716 (the
&#147;Registration Statement&#148;), under the Securities Act of 1933, as amended (the &#147;Act&#148;),
and we have reviewed originals or copies of the Registration Statement, such
corporate records, such certificates and statements of officers and accountants
of the Company and of public officials, and such other documents as we have
considered relevant and necessary in order to furnish the opinion hereinafter
set forth.&#160; In doing so, we have assumed
the genuineness of all signatures, the legal capacity of natural persons, the authenticity
of all documents submitted to us as originals, the conformity to original
documents of all documents submitted to us as copies, and the authenticity of
the originals of such documents.&#160;
Specifically, and without limiting the generality of the foregoing, we
have reviewed: (i)&nbsp;the amended and restated declaration of trust and the
amended and restated by-laws of the Company, each as amended to date, and in
the case of the declaration of trust, as supplemented; (ii)&nbsp;the prospectus
supplement dated February&nbsp;4, 2009 (the &#147;Prospectus Supplement&#148;) to the
final prospectus dated July&nbsp;12, 2006 (as supplemented by the Prospectus
Supplement, the &#147;Prospectus&#148;), which forms a part of the Registration
Statement, relating to, <i>inter alia</i>,
the Company&#146;s offering of Common Shares of Beneficial Interest in the Company;
and (iii)&nbsp;the sections of Item 1 of the Company&#146;s Annual Report on Form&nbsp;10-K
for its fiscal year ended December&nbsp;31, 2007 (the &#147;Form&nbsp;10-K&#148;)
captioned &#147;Federal Income Tax Considerations&#148; and &#147;ERISA Plans, Keogh Plans and
Individual Retirement Accounts&#148;.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="66%" valign="top" style="padding:0in 0in 0in 0in;width:66.42%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">BOSTON&nbsp;&nbsp;NEW YORK&nbsp;&nbsp;WASHINGTON, DC</font></p>
  </td>
  <td width="8%" valign="bottom" style="padding:0in 0in 0in 0in;width:8.2%;">
  <p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="25%" valign="top" style="padding:0in 0in 0in 0in;width:25.38%;">
  <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\105825\09-2842-4\task3334736\2842-4-ki.htm',USER='105825',CD='Feb  5 00:15 2009' -->


<br clear="all" style="page-break-before:always;">


<div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
opinion set forth below is based upon the Internal Revenue Code of 1986, as
amended, the Treasury Regulations issued thereunder, published administrative
interpretations thereof, and judicial decisions with respect thereto, all as of
the date hereof (collectively, &#147;Tax Laws&#148;), and upon the Employee Retirement
Income Security Act of 1974, as amended, the Department of Labor regulations
issued thereunder, published administrative interpretations thereof, and
judicial decisions with respect thereto, all as of the date hereof
(collectively, &#147;ERISA Laws&#148;).&#160; No
assurance can be given that Tax Laws or ERISA Laws will not change.&#160; In preparing the discussions with respect to
Tax Laws matters and ERISA Laws matters in the sections of Item 1 of the Form&nbsp;10-K
captioned &#147;Federal Income Tax Considerations&#148; and &#147;ERISA Plans, Keogh Plans and
Individual Retirement Accounts&#148;, as supplemented by the section of the
Prospectus Supplement captioned &#147;Federal income tax and ERISA considerations&#148;,&#160; we have made certain assumptions therein and
expressed certain conditions and qualifications therein, all of which
assumptions, conditions and qualifications are incorporated herein by
reference.&#160; With respect to all questions
of fact on which our opinion is based, we have assumed the initial and
continuing truth, accuracy and completeness of:&#160;
(i)&nbsp;the information set forth in the Form&nbsp;10-K, the
Prospectus, and in the documents incorporated therein by reference; and (ii)&nbsp;representations
made to us by officers of the Company or contained in the Form&nbsp;10-K, the
Prospectus, and in the documents incorporated therein by reference, in each
such instance without regard to qualifications such as &#147;to the best knowledge
of&#148; or &#147;in the belief of&#148;.&#160; We have not
independently verified such information.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We
have relied upon, but not independently verified, the foregoing
assumptions.&#160; If any of the foregoing
assumptions are inaccurate or incomplete for any reason, or if the transactions
described in the Form&nbsp;10-K, the Prospectus, or the documents incorporated
therein by reference have been consummated in a manner that is inconsistent
with the manner contemplated therein, our opinion as expressed below may be
adversely affected and may not be relied upon.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Based
upon and subject to the foregoing, we are of the opinion that the discussions
with respect to Tax Laws matters and ERISA Laws matters in the sections of Item
1 of the Form&nbsp;10-K captioned &#147;Federal Income Tax Considerations&#148; and &#147;ERISA
Plans, Keogh Plans and Individual Retirement Accounts&#148;, as supplemented by the
discussion in the section of the Prospectus Supplement captioned &#147;Federal
income tax and ERISA considerations&#148;, in all material respects are accurate and
fairly summarize the Tax Laws issues and the ERISA Laws issues addressed
therein as applied to the Company and to the Company&#146;s operations and
investments, and hereby confirm that the opinions of counsel referred to in
said sections represent our opinions on the subject matter thereof.&#160; In addition to those matters discussed in the
section of the Prospectus Supplement captioned &#147;Federal income tax and ERISA
considerations&#148;, the Housing Assistance Tax Act of 2008 (P.L. 110-289,
7/30/2008) revised certain other aspects of the Tax Laws discussed in the
section of Item 1 of the Form&nbsp;10-K captioned &#147;Federal Income Tax
Considerations&#148;; however, we are of the opinion that those statutory revisions
are generally not expected to materially affect the federal income tax
consequences of the Company&#146;s operations or investments.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>

<div style="margin:0in 0in .0001pt;text-indent:0in;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='2',FILE='C:\JMS\105825\09-2842-4\task3334736\2842-4-ki.htm',USER='105825',CD='Feb  5 00:15 2009' -->


<br clear="all" style="page-break-before:always;">


<div>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Our
opinion above is limited to the matters specifically covered hereby, and we
have not been asked to address, nor have we addressed, any other matters or any
other transactions.&#160; Further, we disclaim
any undertaking to advise you of any subsequent changes of the matters stated,
represented or assumed herein or any subsequent changes in Tax Laws or ERISA
Laws.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This
opinion is intended solely for the benefit and use of the Company, and is not
to be used, released, quoted, or relied upon by anyone else for any purpose
(other than as required by law) without our prior written consent.&#160; We hereby consent to the filing of a copy of
this opinion as an exhibit to the Form&nbsp;8-K, which is incorporated by
reference in the Company&#146;s Registration Statement, and to the references to our
firm in the Prospectus Supplement and such Registration Statement.&#160; In giving such consent, we do not thereby
admit that we come within the category of persons whose consent is required
under Section&nbsp;7 of the Act or under the rules&nbsp;and regulations of the
SEC promulgated thereunder.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Very truly yours,</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Sullivan&nbsp;&amp;
  Worcester LLP</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SULLIVAN&nbsp;&amp;
  WORCESTER LLP</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='3',FILE='C:\JMS\105825\09-2842-4\task3334736\2842-4-ki.htm',USER='105825',CD='Feb  5 00:15 2009' -->


</body>

</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>5
<FILENAME>g28424kii001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g28424kii001.jpg
M_]C_X``02D9)1@`!`0$`8`!@``#_VP!#``H'!P@'!@H("`@+"@H+#A@0#@T-
M#AT5%A$8(Q\E)"(?(B$F*S<O)BDT*2$B,$$Q-#D[/CX^)2Y$24,\2#<]/CO_
MVP!#`0H+"PX-#AP0$!P[*"(H.SL[.SL[.SL[.SL[.SL[.SL[.SL[.SL[.SL[
M.SL[.SL[.SL[.SL[.SL[.SL[.SL[.SO_P``1"``Q`*`#`2(``A$!`Q$!_\0`
M'P```04!`0$!`0$```````````$"`P0%!@<("0H+_\0`M1```@$#`P($`P4%
M!`0```%]`0(#``01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T?`D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$!
M`0$!`0````````$"`P0%!@<("0H+_\0`M1$``@$"!`0#!`<%!`0``0)W``$"
M`Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H`#`,!``(1`Q$`/P#TJ6]O]1U2
M>QT^9+6.V`\V5DW,Q/8#\*NZ='J<3R1W\T4Z``QR(NTGU!%5]0T>9[O[?IMS
M]FN\8;(RD@]Q2Z9JMQ+=OI^HVX@NT7<-IRLB^HI#'Z'?SZA;W#S[<QW#QKM&
M.!TI==OIM/TWSX-N_P`Q5^89&"<&JOA7_CTO/^ON3^E.\5_\@;_MM'_Z%1T#
MJ3W-_/%K]E9+M\J:-V?(YR!Q6G6'??\`(VZ9_P!<I/Y5N4(&9D%_/)XBN;%M
MODQ0JZ\<Y/O6G6':_P#(Y7W_`%[)_2MRA`S#LM1U"]TJ_EC,?VB"9UB^7@A>
MQ%:&DWXU+3(;H8#.OS@=F'6L[PK_`,>U[_U^2?TING,NDZW>V#G;!,#<PD]!
M_>'^?2@&7+N_G_MJTT^UVY8&2<D9VH/\34&HZZMEK5K9X!C;_7MC[N[A?I46
MC2*8K[7KGY1.24SVC7I5*T6RU#2+V6\N[=+F_8OAI`#'C[@_"D.QUE8N@:\N
MI>9;3D+=1$\=-ZYZC^M3^']0_M'2HW=@98_W<G/<=_QK%TO2S?Z*9K=_*O(+
MF1H91ZYZ'V-.XK&UKU_/IVG">WV[_,5?F&1@FI-9U:WT329]1N<E(5SM'5CV
M`^IK"U;5!J.@%)4\JZAG19XCU4YZ_0U3^*WF?\(Q!MSL^U+O_P"^6Q^M%S2G
M!2FHL\\UCQ+K7B2[/G3RE7/R6L).P>V!U^IJI;7NK:%=@P37-E,N#MY7/U!X
M(J[X66VDN[N"[9H(9[5HC=#I;DD88GT)&/QJWJFESI>6FAW\PMA96\CK=NI=
M95Y?*X_A[#W^M0>M>,7R6T/2?!/BL>)M-;SU5+VW(695Z-GHP^M=+7DOPJ##
MQ-=B)BT/V4[B1C/S+CC\Z]:JUL>7B(*%1I&//>ZS9W4F=.%W;ECY;0N`P'H0
M:98VU]>ZP-4O;<6JQ1F.&'=EN>I-7M.U2WU-9C"'5H7V.KC!!J5[V&.^BLV/
M[V5&=1[#'^/Z4&)CFVU'1=0N)[*V%Y:7+;VB#!61N^,TK1:EKES`+NT^Q64+
MB0HS!GD8=!QT%:NH:A#IMN)IPQ!<(`@R23TJ+4=9M=-V)+O>:3[D,:[G;\*`
M*>K6VH?VQ:7UE:K<"&-E*M(%ZU)#>ZXTZ++I,21E@&87`.T=SBHU\2QQ.HOK
M"ZLD<X625/E_$CI6C>ZA!86+7DN6B7!RG.<G`Q^=`&5<0:K:^(+B^L[)+B.6
M)4^:4+TJY97>KRW*I=Z;'!"0<NLP8CTXJ'_A)K-,&>WN[=#_`!R0$+^=:JS1
M/")ED4QE=P<'C'KF@#.T"RN+&"Z6X0*9+EW7!!RIZ5#XDTF74H8&MB5FC?:2
M#CY&X:E/B1)G86%A=7J*<&2-,+^!/6K5CK$%]',PBFBD@&9(Y4PR_P"<4:;!
MKN5]5TZ>>RM=,M4VVVY1,V0-J#M[YJW_`&/IG_/A;_\`?L51C\46TT8DBLK]
MT/1E@)!J\-4MQIK7\RR01+G(E3:W7'2C0-2I::=-IVNRO:Q*+&Y0%PI`$;CV
M_P`]:D\/V5Q8:>\5R@1S,[``@\$\5"/$94+)-I=[%;MTE*`CZD=15B]UN*RN
M3`UI=R$`'=%"67GWHT#4I^(M!_M`+=VPQ<IC<!QYB@]#[U?UK28-<TB?3KG(
M29<!AU5NH(^AJDGBJTD+!+2^8H<,%@SM/OS5B77[:"QBNY(+E5ED\M4,>'S]
M*-!IM--'F;Z"VCZ5?Z%K2O9^;,LUOJ"Q-)"Y4$;6*C('/X9IVD%-9TX^&)IY
M;N0*?LM]#`Q2#D'821G8<=>,5Z,OB&&1@AT^_P#F..;<XJ2ZUJUL+PV8MKB2
M38'*P1;N*5D=/UAM:K4SO!7A,>&-/D$SI+>7!!E=/N@#HH]JZ6LZRURROI_L
MZF2*?&1%,A1C],]:T::.:<G*5Y&#$@TSQ8R#B+4(RW_`P<G]/YUG7LLCZI+K
MBL?*LKA(`!T*]'/YFM3Q1%(-/2^@_P!=9R"13[=#4MGI0_X1K[!(/GEB)<G^
M\W/\Z5@(K_%_XAL;0?-';J;F3Z]%J/P[&+NZOM4E&Z9YVC0G^!1V%)X4@F:W
MFO;KF:0B(9[*@Q_/-,AG'AO4KB*Z5EL;J3S(I@,A&/4&CS#R-^>"*Y@>&9`\
M;C#*>]<@TCKX1U&S=BPM+CRE)_N[ABMN\\2Z?##_`*-,MU.W$<47S%C^%9=Y
M82V'@VY^T?\`'Q/()9?8EAQ0P1I3>(-)73]GVA+AC'M\J,;BQQTQ65+!=6OA
MFPTV4F-[N<(X[JI.<?RK3U#26>""_P!-58KVW4%<#`D&.5-174G_``D>BB6T
M^2\MI`_E-U5QU4T`;L$$=M"D,*!(T&%4=A3;I1]FF;`R8SD_@:SK/Q+I\\6+
MF9;6=>)(I?E*G\:DCU:UU**[2T+2)%&<R8PI)!X'K3N*QD:#KUO9Z-;P/;W;
ML@.3'"64\GH:U]5M6UG12L&4=PLD8D&.1R`167X?U_2[/1+>"XO$21`<J0>.
M3[5KR:W8)8+?B4R6Q?8712<4EL-[E6T\0QF5;34H'LKD\8D'R.?8UM5SVN:M
MI%WI$L8GBN))%Q$B<MN[8]*U]-2:/3;9+C/FK$H?/7.*:$S-\/\`_(1UC_KZ
M--\52"&&PE()"7:,0HR3C/2E\/\`_(1UC_KZI/%4B0Q6$LC;42[1F/H!FET'
MU+5MK]M=7*0);7BLYP"\!`'U-49KRVLO&,DMU,D*&T"AG.`3NZ5=7Q-HS,%%
M^A).!P?\*K&..;QI*DB*Z_8APPS_`!4P(;VZ@UK5K"/3LS-;R^9).J_*B^F?
M>NDKG%+>&+[:V3I5R_!_YX.?Z5T0(8`J00>01WH0F5M2_P"0;<?]<S5D=***
M8BMI_P#QZ#_??_T(TW5?^09/_N444N@^IR_@S_C_`)OH:ZR]_P"/1_P_G112
M6PWN3+]P?2JMK_Q]W'U_QHHJB3E_&G_'Y%]!71Z1_P`@:+_<-%%2MRGL4ZOQ
M?\@M_HU%%,1Q_AS_`)&4_4UWU%%*.PY%:U_UMQ_OTS4?]0O^]113$9Z??'U%
@:8_Y")_ZY_UHHH`6]_X]'_#^=20?ZB/_`'1113$?_]D_
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
