MASTER LEASE AGREEMENT



                                     BETWEEN



                EMERALD-CEDAR HILLS, INC. A FLORIDA CORPORATION,

                  EMERALD-GOLFVIEW, INC. A FLORIDA CORPORATION,

               EMERALD-SOUTHERN PINES, INC. A FLORIDA CORPORATION

                                       AND

                 EMERALD-GOLFCREST, INC., A FLORIDA CORPORATION



                             (COLLECTIVELY, LESSOR)



                                       AND



                        SENIOR CARE FLORIDA LEASING, LLC

                      A DELAWARE LIMITED LIABILITY COMPANY



                                    (LESSEE)





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                                TABLE OF CONTENTS



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ARTICLE 1........................................................................................................1



   1.1     Lease and Leased Properties...........................................................................1

   1.2     Master Lease of Leased Properties.....................................................................2

   1.3     Definitions...........................................................................................3



ARTICLE 2........................................................................................................9



   2.1     Term; Commencement Date...............................................................................9



ARTICLE 3........................................................................................................9



   3.1     Representations, Warranties and Covenants of Lessor...................................................9



ARTICLE 4.......................................................................................................11



   4.1     Base Rent............................................................................................11

   4.2     Additional Rent......................................................................................11

   4.3     Additional Charges...................................................................................11

   4.4     Late Payment.........................................................................................11

   4.5     Net Lease............................................................................................11

   4.6     Method of Payment of Rent............................................................................12

   4.7     Adjustment of Base Rent..............................................................................12



ARTICLE 5.......................................................................................................12



   5.1     Property Taxes.......................................................................................12

   5.2     Notice of Taxes......................................................................................13

   5.3     Proration of Taxes...................................................................................13

   5.4     License Fees and Business Taxes......................................................................13

   5.5     Utility Charges......................................................................................13

   5.6     Insurance Premiums...................................................................................13



ARTICLE 6.......................................................................................................14



   6.1     Ownership of the Leased Properties...................................................................14

   6.2     Lessee's Personal Property...........................................................................14

   6.3     Grant of Security Interest in Lessee's Personal Property and Accounts................................14



ARTICLE 7.......................................................................................................15



   7.1     Licenses and Permits.................................................................................15

   7.2     Use of the Leased Properties.........................................................................15

   7.3     Environmental Matters................................................................................16



ARTICLE 8.......................................................................................................17



   8.1     Maintenance and Repair...............................................................................17

   8.2     Surrender............................................................................................18

   8.3     Replacement Property.................................................................................18

   8.4     Signage..............................................................................................19



ARTICLE 9.......................................................................................................19



   9.1     Improvements, Alterations and Additions by Lessee....................................................19

   9.2     Liens................................................................................................19

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{S}     {C}                                                                                                     {C}

ARTICLE 10......................................................................................................20



   10.1    Permitted Contests...................................................................................20



ARTICLE 11......................................................................................................20



   11.1    General Insurance Requirements.......................................................................20

   11.2    Replacement Cost.....................................................................................21

   11.3    Waiver of Subrogation................................................................................21

   11.4    Lessee's Personal Property...........................................................................22

   11.5    Blanket Policy.......................................................................................22



ARTICLE 12......................................................................................................22



   12.1    Insurance Proceeds Payable on Damage or Destruction..................................................22

   12.2    Restoration in the Event of Damage or Destruction Covered............................................22

   12.3    Lessee's Personal Property; Business Interruption....................................................23

   12.4    Excess Proceeds......................................................................................24

   12.5    Standard of Work.....................................................................................24

   12.6    Effect of Termination................................................................................24

   12.7    Failure to Repair....................................................................................24

   12.8    Unavoidable Delays...................................................................................24



ARTICLE 13......................................................................................................24



   13.1    Condemnation.........................................................................................24

   13.2    Awards...............................................................................................25

   13.3    Standard of Work.....................................................................................25

   13.4    Failure to Repair....................................................................................26

   13.5    Unavoidable Delays...................................................................................26



ARTICLE 14......................................................................................................26



   14.1    Event of Default.....................................................................................26

   14.2    Remedies.............................................................................................27

   14.3    Additional Expenses..................................................................................29

   14.4    Legal Expenses.......................................................................................29



ARTICLE 15......................................................................................................29



   15.1    Lessor's Right to Cure Lessee's Default..............................................................29



ARTICLE 16......................................................................................................29



   16.1    Holding Over.........................................................................................29



ARTICLE 17......................................................................................................30



   17.1    Subordination, Non-Disturbance and Attornment........................................................30

   17.2    Facility Mortgage Agreements.........................................................................30

   17.3    Estoppel Certificates................................................................................31

   17.4    Relationship of Lessee to Existing Facility Mortgage.................................................31



ARTICLE 18......................................................................................................31



   18.1    Indemnification......................................................................................31



ARTICLE 19......................................................................................................32



   19.1    Assignment and Subletting............................................................................32



ARTICLE 20......................................................................................................33

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   20.1    Lessor's Right to Inspect............................................................................33



ARTICLE 21......................................................................................................33



   21.1    Quiet Enjoyment......................................................................................33

   21.2    No Encumbrance by Lessor.............................................................................33



ARTICLE 22......................................................................................................33



   22.1    Notices..............................................................................................33



ARTICLE 23. [INTENTIONALLY OMITTED].............................................................................34



ARTICLE 24......................................................................................................34



   24.1    Lessor's Event of Default............................................................................34

   24.2    Legal Expenses.......................................................................................35



ARTICLE 25......................................................................................................35



   25.1    Miscellaneous........................................................................................35



ARTICLE 26......................................................................................................36



   26.1    Arbitration..........................................................................................36

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                                      iii

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                             MASTER LEASE AGREEMENT



         THIS MASTER LEASE AGREEMENT ("Lease") is made and entered into as of

the 1st day of May, 2003 by and between EMERALD-CEDAR HILLS, INC. a Florida

corporation, EMERALD-GOLFVIEW, INC. a Florida corporation, EMERALD-SOUTHERN

PINES, INC. a Florida corporation and EMERALD-GOLFCREST, INC., a Florida

corporation (herein collectively called the "Lessor") and SENIOR CARE FLORIDA

LEASING, LLC, a Delaware limited liability company (herein called the "Lessee").



                                    RECITALS



         WHEREAS, Lessor owns certain real property located in the State of

Florida as more particularly described on EXHIBITS A-1 THROUGH A-4 attached

hereto on which there are located four (4) existing fully licensed nursing home

facilities owned and operated by Lessor; and



         WHEREAS, Lessor desires to lease said facilities to the Lessee, and

Lessee desires to lease the same from Lessor, upon the terms, covenants and

conditions hereinafter set forth.



         NOW THEREFORE, in consideration of the mutual covenants and agreements

contained herein, and other good and valuable consideration, the receipt and

sufficiency of which is acknowledged, the parties to this Lease hereby covenant

and agree as follows:



                                   ARTICLE 1.



         1.1      LEASE AND LEASED PROPERTIES. Upon and subject to the

covenants, stipulations, terms and conditions hereinafter set forth, Lessor

hereby leases, demises and lets to Lessee, and Lessee hereby leases, rents and

hires from Lessor, for the Term hereof (beginning on the Commencement Date as

more particularly set forth herein) the following described property

(collectively, the "Leased Properties"):



                  1.1.1    the real property more particularly described in

         EXHIBIT A-1 THROUGH A-4 attached hereto and made a part hereof,

         together with all easements, rights, hereditaments and appurtenances

         thereto belonging or otherwise benefiting such real property including

         any easements, rights, rights of access, ingress and egress, parking or

         traffic circulation, or other interests of Lessor in, on or to any

         land, highway, street, road or avenue, open or proposed, in, on,

         across, in front of, abutting or adjoining such real property and any

         adjacent real property (the "Land").



                  1.1.2    the Facilities (as hereinafter defined) and all

         structures, Fixtures (as hereinafter defined) and other improvements of

         every kind now or hereafter situated on the Land including, but not

         limited to, alleyways, crosswalks, sidewalks, utility pipes, conduits

         and lines (on-site and off-site), drainage and all above-ground and

         underground utility structures drives, parking areas and roadways

         appurtenant to such improvements (collectively, the "Leased

         Improvements");





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                  1.1.3    to the extent owned and installed in the Leased

         Improvements by Lessor, all permanently affixed equipment, machinery,

         fixtures, and other items of real and/or personal property, so

         permanently affixed or attached to or incorporated into the Land or

         Leased Improvements such that an interest in them arises under

         applicable real estate law and the same are deemed to be fixtures and

         accessions to the land and a part thereof, including all components

         thereof, now and hereafter located in, on or used in connection with,

         and permanently affixed to or incorporated into the Land or Leased

         Improvements, including, without limitation, all furnaces, boilers,

         heaters, electrical equipment, heating, plumbing, lighting,

         ventilating, refrigerating, incineration, air and water pollution

         control, waste disposal, air-cooling and air-conditioning systems and

         apparatus (other than individual units), sprinkler systems and fire and

         theft protection equipment, and built-in oxygen and vacuum systems,

         together with all replacements, modifications, alterations and

         additions thereto (collectively, the "Fixtures"), but specifically

         excluding all items included within the category of Lessee's Personal

         Property as defined below;



                  1.1.4    to the extent owned and installed in the Leased

         Improvements by Lessor, all equipment, machinery, furnishings,

         furniture, trade fixtures, appliances, computers (and all associated

         software) and other items of personal property, and all components

         thereof, now or hereafter installed on the Land by Lessor and used,

         maintained or operated in connection with the Leased Improvements

         (collectively, "Lessor's Personal Property"), but specifically

         excluding all items included within the category of Lessee's Personal

         Property; and



                  1.1.5    to the extent permitted by law, all permits,

         approvals and other intangible property or any interest therein now or

         hereafter owned or held by Lessor in connection with the Leased

         Properties or the use thereof or any business or businesses now or

         hereafter conducted by Lessee therefrom, including all licenses,

         permits, contract rights, agreements, water rights and reservations,

         zoning rights, business licenses and warranties (including those

         relating to construction or fabrication) related to the Leased

         Properties, or any part thereof, specifically including the right to

         use of, and Lessor hereby grants to Lessee the exclusive right to the

         use of the names "Emerald-Golfview," "Emerald-Golfcrest,"

         "Emerald-Southern Pines," "Emerald-Cedar Hills" and any combinations

         and derivatives thereof (collectively, "Lessor's Permits and General

         Intangibles").



         1.2      MASTER LEASE OF LEASED PROPERTIES. The Leased Properties are

leased subject to all covenants, conditions, restrictions, easements and other

matters affecting each of the Leased Properties, whether or not of record,

including the Permitted Encumbrances and other matters which would be disclosed

by an inspection of the Leased Properties or by an accurate survey thereof,

provided, however, that the foregoing matters shall not materially interfere

with the Primary Intended Use of Leased Properties by Lessee as set forth in

this Lease.



         This Lease constitutes one indivisible lease of the Leased Properties

to the Lessee, and not separate leases governed by similar terms. The Leased

Properties constitute one economic unit, and the Base Rent and all other

provisions have been negotiated and agreed to based on a demise of all of the

Leased Properties as a single, composite, inseparable transaction and would have

been substantially different had separate leases or a divisible lease been

intended. Except as expressly provided herein for specific, isolated purposes

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