2.2.0.7 false Commitments and Contingencies 0217 - Disclosure - Commitments and Contingencies true false false false 1 USD false false USD Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USDEPS Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance shares xbrli 0 Shares Standard http://www.xbrl.org/2003/instance shares xbrli 0 $ 2 Commitments and Contingencies [Abstract] 0 nhp_CommitmentsAndContingenciesAbstract nhp false na duration Commitments and Contingencies. false false false false false true false false false false false false 1 false false false false 0 0 false false false xbrli:stringItemType string Commitments and Contingencies. false 3 Commitments and Contingencies 1 us-gaap_CommitmentsAndContingenciesDisclosureTextBlock us-gaap true na duration No definition available. false false false false false false false false false false false verboselabel false 1 false false false false 0 0   <div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; "> <div align="left" style="font-size: 10pt; margin-top: 10pt"><b>17. Commitments and Contingencies</b> </div> <div align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><i>Litigation</i> </div> <div align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 8%">From time to time, we are a party to various legal proceedings, lawsuits and other claims (as to some of which we may not be insured) that arise in the normal course of our business. Regardless of their merits, these matters may require us to expend significant financial resources. Except as described in our Annual Report on Form 10-K for the year ended December 31, 2009 and Quarterly Report on Form 10-Q for the period ended March 31, 2010, we are not aware of any other legal proceedings or claims that we believe may have, individually or taken together, a material adverse effect on our business, results of operations or financial position. However, we are unable to predict the ultimate outcome of pending litigation and claims, and if our assessment of our liability with respect to these actions and claims is incorrect, such actions and claims could have a material adverse effect on our business, results of operations or financial position. </div> <div align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><i>Development Agreements</i> </div> <div align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 8%">During the nine months ended September 30, 2010, we entered into Mission Hills JV to develop a medical office building (see Note 5) and entered into another agreement to fund the expansion of a skilled nursing facility (see Note 4). As of September 30, 2010, we had committed to fund an additional $47.4 million under these agreements, of which $36.5 million relates to Mission Hills JV and is expected to be funded through a third party construction loan. </div> <div align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><i>Lines of Credit</i> </div> <div align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 8%">Under the terms of an agreement with PMB LLC, we agreed to extend to PMB LLC a $10.0 million line of credit at an interest rate equal to LIBOR plus 175 basis points to fund certain costs of PMB LLC with respect to the proposed development of multi-tenant medical office buildings. During the nine months ended September 30, 2010, we funded $0.8 million under the line of credit. As of September 30, 2010, $4.0 million was outstanding and is included in the caption “Other assets” on our consolidated balance sheet. </div> <div align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 8%">We entered into an agreement with PMB LLC, the manager of PMB Pomona LLC, to extend up to $3.0 million of funding at an interest rate of 7.25%, which was secured by 100% of the membership interests in PMB Pomona LLC (see Note 18). During the nine months ended September 30, 2010, we funded $0.3 million, and the total $1.9 million outstanding was subsequently repaid. No further disbursements will be made under the agreement. </div> <div align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 8%">As of February 1, 2010, in connection with the formation of Gilbert JV, a consolidated joint venture, we agreed to loan Gilbert JV up to $8.8 million as project financing at an interest rate of 7.00%, including $6.8 million that was disbursed initially and remains outstanding at September 30, 2010 (see Note 5). </div>   </div>  <div style="font-family: 'Times New Roman',Times,serif; margin-left: 0in; "> <div align="center" style="font-size: 10pt; margin-top: 0pt"> <b> </b> </div> <div align="center" style="font-size: 10pt; margin-top: 0pt"> <b> </b> </div> <div align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 8%">As of March 1, 2010, in connection with the formation of Pasadena JV, a consolidated joint venture, we agreed to loan Pasadena JV up to $56.5 million as project financing at an initial interest rate equal to the greater of 3.50% or LIBOR plus 165 basis points (increasing to the greater of 5.125% or LIBOR plus 375 basis points as of April 1, 2010), including $49.8 million that was disbursed initially and remains outstanding at September 30, 2010 (see Note 5). </div> <div align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><i>Indemnities</i> </div> <div align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 8%">We have entered into indemnification agreements with those partners who contributed appreciated property into NHP/PMB. Under these indemnification agreements, if any of the appreciated real estate contributed by the partners is sold by NHP/PMB in a taxable transaction within a specified number of years after the property was contributed, we will reimburse the affected partners for the federal and state income taxes associated with the pre-contribution gain that is specially allocated to the affected partner under the Code. We have no current plans to sell any of these properties. </div> </div>  <!-- Begin Block Tagged Note false false false us-types:textBlockItemType textblock Includes disclosure of commitments and contingencies. This element may be used as a single block of text to encapsulate the entire disclosure including data and tables. 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