Company: OLP
Filing Date: 2025-06-09
Form Type: S-8
Source: 0001213900-25-052678
Chunk: 5

Company: ONE LIBERTY PROPERTIES INC
Filing Date: 2025-06-09
Form: S-8
Chunk 5
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)(i) and
(a)(1)(ii) of this section do not apply if the information required to be included in a post-effective amendment by those paragraphs
is contained in reports filed with or furnished to the SEC by us pursuant to Section 13 or Section 15(d) of the Exchange
Act that are incorporated by reference in the Registration Statement.

(2) That, for the purpose of determining
any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating
to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide
offering thereof.

<div align='center'>II-3</div>

(3) To remove from registration by
means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.

| (b) | We hereby undertake that for purposes of determining any liability                                                                        
 under the Securities Act, each filing of our annual report pursuant to Section 13(a) or Section 15(d) of the Exchange                     
 Act (and, where applicable, each filing of an employee benefit plan’s annual report pursuant to Section 15(d) of the                      
 Exchange Act) that is incorporated by reference in the Registration Statement shall be deemed to be a new registration statement relating 
 to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide           
 offering thereof.                                                                                                                         |

| (c) | Insofar as indemnification for liabilities arising under the                                                                               
 Securities Act may be permitted to directors, officers and controlling persons of ours pursuant to the foregoing provisions, or otherwise, 
 we have been advised that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act       
 and is, therefore, unenforceable.  In the event that a claim for indemnification against such liabilities (other than the payment          
 by us of expenses incurred or paid by a director, officer or controlling person of ours in the successful defense of any action, suit      
 or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, we will,    
 unless in the opinion of our counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction   
 the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the    
 final adjudication of such issue.                                                                                                          |