Common use of REIT Status Clause in Contracts

REIT Status. The Company has been organized and has operated in conformity with the requirements for qualification and taxation as a real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, as amended (the “Code”) for each taxable year commencing with its taxable year ended December 31, 2004 and through its taxable year ended December 31, 2017, and its current and proposed organization and method of operation (as described in the Registration Statement and the Prospectus) will enable the Company to continue to meet the requirements for qualification and taxation as a real estate investment trust under the Code for its taxable year ending December 31, 2018 and thereafter.

REIT Status. The Company has been organized and has operated in conformity with the requirements for qualification and taxation as a real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, as amended (the “Code”) for each taxable year commencing with its taxable year ended ending December 31, 2004 and through its taxable year ended December 31, 20171995, and its current and proposed organization and method of operation (as described in the Registration Statement and Prospectus, as supplemented in the Prospectuspreliminary prospectus) will enable the Company to continue to meet the requirements for qualification and taxation as a real estate investment trust under the Code for its taxable year ending December 31, 2018 2014 and thereafter.

REIT Status. The Company has been organized and has operated in conformity with the requirements for qualification and taxation as a real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, as amended (the “Code”) for each taxable year commencing with its taxable year ended December 31, 2004 and through its taxable year ended December 31, 20172019, and its current and proposed organization and method of operation (as described in the Registration Statement and the Prospectus) will enable the Company to continue to meet the requirements for qualification and taxation as a real estate investment trust under the Code for its taxable year ending December 31, 2018 2020 and thereafter.

REIT Status. The Company has been organized and has operated in conformity with the requirements for qualification and taxation as a real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, as amended (the “Code”) for each taxable year commencing with its taxable year ended ending December 31, 2004 and through its taxable year ended December 31, 20171995, and its current and proposed organization and method of operation (as described in the Registration Statement and Prospectus, as supplemented in the Prospectuspreliminary prospectus) will enable the Company to continue to meet the requirements for qualification and taxation as a real estate investment trust under the Code for its taxable year ending December 31, 2018 2013 and thereafter.

REIT Status. The Company has been organized and has operated in conformity with the requirements for qualification and taxation as a real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, as amended (the “Code”) for each taxable year commencing with its taxable year ended December 31, 2004 and through its taxable year ended December 31, 20172010, and its current and proposed organization and method of operation (as described in the Registration Statement General Disclosure Package and the Prospectus) will enable the Company to continue to meet the requirements for qualification and taxation as a real estate investment trust under the Code for its taxable year ending December 31, 2018 2011 and thereafter.

REIT Status. The Company has been organized and has operated in conformity with the requirements for qualification and taxation as a real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, as amended (the “"Code”") for each taxable year commencing with its taxable year ended ending December 31, 2004 and through its taxable year ended December 31, 20171995, and its current and proposed organization and method of operation (as described in the Registration Statement and Prospectus, as supplemented in the Prospectuspreliminary prospectus) will enable the Company to continue to meet the requirements for qualification and taxation as a real estate investment trust under the Code for its taxable year ending December 31, 2018 2009 and thereafter.

REIT Status. The Company has been organized and has operated in conformity with the requirements for qualification and taxation as a real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, as amended (the “Code”) for each taxable year commencing with its taxable year ended December 31, 2004 and through its taxable year ended December 31, 20172011, and its current and proposed organization and method of operation (as described in the Registration Statement Statement, the General Disclosure Package and the Prospectus) will enable the Company to continue to meet the requirements for qualification and taxation as a real estate investment trust under the Code for its taxable year ending December 31, 2018 2012 and thereafter.

REIT Status. The Company has been organized and has operated in conformity with the requirements for qualification and taxation as a real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, as amended (the “Code”) for each taxable year commencing with its taxable year ended December 31, 2004 and through its taxable year ended December 31, 20172008, and its current and proposed organization and method of operation (as described in the Registration Statement Disclosure Package and the Prospectus) will enable the Company to continue to meet the requirements for qualification and taxation as a real estate investment trust under the Code for its taxable year ending December 31, 2018 2009 and thereafter.

REIT Status. The Company has been organized and has operated in conformity with the requirements for qualification and taxation as a real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, as amended (the “Code”) for each taxable year commencing with its taxable year ended ending December 31, 2004 and through its taxable year ended December 31, 20171995, and its current and proposed organization and method of operation (as described in the Registration Statement Prospectus, as supplemented in the preliminary prospectus and the ProspectusManagement Representation Letter, to be delivered by the Company to ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ LLP on January 25, 2016) will enable the Company to continue to meet the requirements for qualification and taxation as a real estate investment trust under the Code for its taxable year ending December 31, 2018 2016 and thereafter.

REIT Status. The Company has been organized and has operated in conformity with the requirements for qualification and taxation as a real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, as amended (the “Code”) for each taxable year commencing with its taxable year ended ending December 31, 2004 and through its taxable year ended December 31, 20171995, and its current and proposed organization and method of operation (as described in the Registration Statement Prospectus, as supplemented in the preliminary prospectus and the ProspectusManagement Representation Letter, to be delivered by the Company to ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ LLP on June 20, 2016) will enable the Company to continue to meet the requirements for qualification and taxation as a real estate investment trust under the Code for its taxable year ending December 31, 2018 2016 and thereafter.

REIT Status. The Company has been organized and has operated in conformity with the requirements for qualification and taxation as a real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, as amended (the “Code”) for each taxable year commencing with its taxable year ended December 31, 2004 and through its taxable year ended December 31, 20172012, and its current and proposed organization and method of operation (as described in the Registration Statement and the Prospectus) will enable the Company to continue to meet the requirements for qualification and taxation as a real estate investment trust under the Code for its taxable year ending December 31, 2018 2013 and thereafter.

REIT Status. The Company has been organized and has operated in conformity with the requirements for qualification and taxation as a real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, as amended (the “Code”) for each taxable year commencing with its taxable year ended December 31, 2004 and through its taxable year ended December 31, 20172012, and its current and proposed organization and method of operation (as described in the Registration Statement Statement, the General Disclosure Package and the Prospectus) will enable the Company to continue to meet the requirements for qualification and taxation as a real estate investment trust under the Code for its taxable year ending December 31, 2018 2013 and thereafter.

REIT Status. The Company has been organized and has operated in conformity with the requirements for qualification and taxation as a real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, as amended (the “Code”) ), for each taxable year commencing with its taxable year ended December 31, 2004 and through its taxable year ended December 31, 20172016, and its current and proposed organization and method of operation (as described in the Registration Statement Statement, the General Disclosure Package and the Prospectus) will enable the Company to continue to meet the requirements for qualification and taxation as a real estate investment trust under the Code for its taxable year ending December 31, 2018 2017 and thereafter.

REIT Status. The Company has been organized and has operated in conformity with the requirements for qualification and taxation as a real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, as amended (the “Code”) ), for each taxable year commencing with its taxable year ended December 31, 2004 and through its taxable year ended December 31, 20172015, and its current and proposed organization and method of operation (as described in the Registration Statement Statement, the General Disclosure Package and the Prospectus) will enable the Company to continue to meet the requirements for qualification and taxation as a real estate investment trust under the Code for its taxable year ending December 31, 2018 2016 and thereafter.

REIT Status. The Company has been organized and has operated in conformity with the requirements for qualification and taxation as a real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, as amended (the “Code”) for each taxable year commencing with its taxable year ended ending December 31, 2004 and through its taxable year ended December 31, 20171995, and its current and proposed organization and method of operation (as described in the Registration Statement Prospectus, as supplemented in the preliminary prospectus and the Prospectusmanagement representation letter, to be delivered by the Company to ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ LLP on June 14, 2018) will enable the Company to continue to meet the requirements for qualification and taxation as a real estate investment trust under the Code for its taxable year ending December 31, 2018 and thereafter.

REIT Status. The Company has been organized and has operated in conformity with the requirements for qualification and taxation as a real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, as amended (the “Code”) for each taxable year commencing with its taxable year ended ending December 31, 2004 and through its taxable year ended December 31, 20171998, and its current and proposed organization and method of operation (as described in each of the Registration Statement Statement, the Time of Sale Information and the Prospectus) will enable the Company to continue to meet the requirements for qualification and taxation as a real estate investment trust REIT under the Code for its taxable year ending December 31, 2018 2023 and thereafter.

REIT Status. The Company has been organized and has operated in conformity with the requirements for qualification and taxation as a real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, as amended (the “Code”) for each taxable year commencing with its taxable year ended December 31, 2004 and through its taxable year ended December 31, 20172024, and its current and proposed organization and method of operation (as described in the Registration Statement and the Prospectus) will enable the Company to continue to meet the requirements for qualification and taxation as a real estate investment trust under the Code for its taxable year ending December 31, 2018 2025 and thereafter.

REIT Status. The Company has been organized and has operated in conformity with the requirements for qualification and taxation as a real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, as amended (the “Code”) ), for each taxable year commencing with its taxable year ended ending December 31, 2004 and through its taxable year ended December 31, 20171995, and its current and proposed organization and method of operation (as described in the Registration Statement Prospectus, as supplemented in the preliminary prospectus and the ProspectusManagement Representation Letter, to be delivered by the Company to ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ LLP on December 7, 2017) will enable the Company to continue to meet the requirements for qualification and taxation as a real estate investment trust under the Code for its taxable year ending December 31, 2018 2017 and thereafter.

REIT Status. The Company has been organized and has operated in conformity with the requirements for qualification and taxation as a real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, as amended (the “Code”) ), for each taxable year commencing with its taxable year ended ending December 31, 2004 and through its taxable year ended December 31, 20171995, and its current and proposed organization and method of operation (as described in the Registration Statement Prospectus, as supplemented in the preliminary prospectus and the Prospectusmanagement representation letter, to be delivered by the Company to ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ LLP on October 7, 2021) will enable the Company to continue to meet the requirements for qualification and taxation as a real estate investment trust under the Code for its taxable year ending December 31, 2018 2021 and thereafter.

REIT Status. The Company has been organized and has operated in conformity with the requirements for qualification and taxation as a real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, as amended (the “Code”) for each taxable year commencing with its taxable year ended December 31, 2004 and through its taxable year ended December 31, 20172013, and its current and proposed organization and method of operation (as described in the Registration Statement Statement, the General Disclosure Package and the Prospectus) will enable the Company to continue to meet the requirements for qualification and taxation as a real estate investment trust under the Code for its taxable year ending December 31, 2018 2014 and thereafter.

REIT Status. The Company has been organized and has operated in conformity with the requirements for qualification and taxation as a real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, as amended (the “Code”) for each taxable year commencing with its taxable year ended ending December 31, 2004 and through its taxable year ended December 31, 20171995, and its current and proposed organization and method of operation (as described in the Registration Statement Prospectus, as supplemented in the preliminary prospectus and the Prospectusmanagement representation letter, to be delivered by the Company to ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ LLP on December 29, 2020) will enable the Company to continue to meet the requirements for qualification and taxation as a real estate investment trust under the Code for its taxable year ending December 31, 2018 2020 and thereafter.

REIT Status. The Company has been organized and has operated in conformity with the requirements for qualification and taxation as a real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, as amended (the “Code”) ), for each taxable year commencing with its taxable year ended ending December 31, 2004 and through its taxable year ended December 31, 20171995, and its current and proposed organization and method of operation (as described in the Registration Statement Prospectus, as supplemented in the preliminary prospectus and the ProspectusManagement Representation Letter, to be delivered by the Company to ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ LLP on September 23, 2020) will enable the Company to continue to meet the requirements for qualification and taxation as a real estate investment trust under the Code for its taxable year ending December 31, 2018 2020 and thereafter.

REIT Status. The Company has been organized and has operated in conformity with the requirements for qualification and taxation as a real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, as amended (the “Code”) for each taxable year commencing with its taxable year ended December 31, 2004 and through its taxable year ended December 31, 20172014, and its current and proposed organization and method of operation (as described in the Registration Statement Statement, the General Disclosure Package and the Prospectus) will enable the Company to continue to meet the requirements for qualification and taxation as a real estate investment trust under the Code for its taxable year ending December 31, 2018 2015 and thereafter.

REIT Status. The Company has been organized and has operated in conformity with the requirements for qualification and taxation as a real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, as amended (the “Code”) for each taxable year commencing with its taxable year ended ending December 31, 2004 and through its taxable year ended December 31, 20171995, and its current and proposed organization and method of operation (as described in the Registration Statement and Prospectus, as supplemented in the Prospectuspreliminary prospectus) will enable the Company to continue to meet the requirements for qualification and taxation as a real estate investment trust under the Code for its taxable year ending December 31, 2018 2011 and thereafter.

REIT Status. The Company has been organized and has operated in conformity with the requirements for qualification and taxation as a real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, as amended (the “Code”) for each taxable year commencing with its taxable year ended ending December 31, 2004 and through its taxable year ended December 31, 20171995, and its current and proposed organization and method of operation (as described in the Registration Statement Prospectus, as supplemented in the preliminary prospectus and the Prospectusmanagement representation letter, to be delivered by the Company to ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ LLP on June 15, 2021) will enable the Company to continue to meet the requirements for qualification and taxation as a real estate investment trust under the Code for its taxable year ending December 31, 2018 2021 and thereafter.

REIT Status. The Company has been organized and has operated in conformity with the requirements for qualification and taxation as a real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, as amended (the “Code”) for each taxable year commencing with its taxable year ended ending December 31, 2004 and through its taxable year ended December 31, 20171995, and its current and proposed organization and method of operation (as described in the Registration Statement Prospectus, as supplemented in the preliminary prospectus and the ProspectusManagement Representation Letter, to be delivered by the Company to ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ LLP on May 25, 2016) will enable the Company to continue to meet the requirements for qualification and taxation as a real estate investment trust under the Code for its taxable year ending December 31, 2018 2016 and thereafter.

REIT Status. The Company has been organized and has operated in conformity with the requirements for qualification and taxation as a real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, as amended (the “Code”) for each taxable year commencing with its taxable year ended December 31, 2004 and through its taxable year ended December 31, 20172014, and its current and proposed organization and method of operation (as described in the Registration Statement and the Prospectus) will enable the Company to continue to meet the requirements for qualification and taxation as a real estate investment trust under the Code for its taxable year ending December 31, 2018 2015 and thereafter.

REIT Status. The Company has been organized and has operated in conformity with the requirements for qualification and taxation as a real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, as amended (the “Code”) ), for each taxable year commencing with its taxable year ended ending December 31, 2004 and through its taxable year ended December 31, 20171995, and its current and proposed organization and method of operation (as described in the Registration Statement Prospectus, as supplemented in the preliminary prospectus and the ProspectusManagement Representation Letter, to be delivered by the Company to ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ LLP on June 3, 2019) will enable the Company to continue to meet the requirements for qualification and taxation as a real estate investment trust under the Code for its taxable year ending December 31, 2018 2019 and thereafter.

REIT Status. The Company has been organized and has operated in conformity with the requirements for qualification and taxation as a real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, as amended (the “Code”) for each taxable year commencing with its taxable year ended ending December 31, 2004 and through its taxable year ended December 31, 20171995, and its current and proposed organization and method of operation (as described in the Registration Statement Prospectus, as supplemented in the preliminary prospectus and the Prospectusmanagement representation letter, to be delivered by the Company to ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ LLP on August 11, 2022) will enable the Company to continue to meet the requirements for qualification and taxation as a real estate investment trust under the Code for its taxable year ending December 31, 2018 2022 and thereafter.

REIT Status. The Company has been organized and has operated in conformity with the requirements for qualification and taxation as a real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, as amended (the “"Code”") for each taxable year commencing with its taxable year ended ending December 31, 2004 and through its taxable year ended December 31, 20171995, and its current and proposed organization and method of operation (as described in the Registration Statement and Prospectus, as supplemented in the Prospectuspreliminary prospectus) will enable the Company to continue to meet the requirements for qualification and taxation as a real estate investment trust under the Code for its taxable year ending December 31, 2018 2006 and thereafter.

REIT Status. The Company has been organized and has operated in conformity with the requirements for qualification and taxation as a real estate investment trust (“REIT”) under pursuant to Sections 856 through 860 of the Internal Revenue Code of 1986Code, and has been subject to taxation as amended (the “Code”) a REIT, for each all taxable year commencing years beginning with its taxable year ended December 31, 2004 and through its taxable year ended December 31, 20172004, and its current and proposed organization and the method of operation of the Company, the Operating Partnership and the Subsidiaries (as described in the Registration Statement and the Prospectus) will enable the Company to continue to meet the requirements for qualification and taxation as a real estate investment trust REIT under the Code for its the taxable year ending December 31, 2018 2024 and thereafter.

REIT Status. The Company has been organized and has operated in conformity with the requirements for qualification and taxation as a real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, as amended (the “Code”) for each taxable year commencing with its taxable year ended ending December 31, 2004 and through its taxable year ended December 31, 20171995, and its current and proposed organization and method of operation (as described in the Registration Statement and Prospectus, as supplemented in the Prospectuspreliminary prospectus) will enable the Company to continue to meet the requirements for qualification and taxation as a real estate investment trust under the Code for its taxable year ending December 31, 2018 2015 and thereafter.