Document:

Exhibit 10.2

 

Avalon GloboCare Corp.

4400 Route 9 South, Suite 3100

Freehold, New Jersey 07728

 

February 20, 2020

 

Meng Li

c/o Avalon GloboCare Corp.

4400 Route 9 South, Suite 3100

Freehold, New Jersey 07728

 

		Re:	Executive Employment Agreement

 

Ms. Li:

 

Reference is hereby
made to that certain Executive Employment Agreement entered between Avalon (Shanghai) Healthcare Technology Co. Ltd. (the “Company”)
and yourself dated January 11, 2017, as amended (the “Agreement”). In acknowledgment of your services to date and in
order to properly compensate you for your services going forward, we hereby agree as follows:

 

		1)	The amendment and restatement of Section 5(A) of the Agreement:

 

The
term (“Term”) of the Agreement shall commence on the Start Date and shall continue through the sixth anniversary of the
Start Date. Executive may terminate the Agreement for Good Reason (as defined below) at any time upon 60 days’ written
notice to Company, provided the Good Reason has not been cured within such period of time. The
Company may terminate its employment of Executive under the Agreement for Cause (as defined below) at any time by written
notice to Executive.

 

		2)	The amendment and restatement of Section 3(B) of the Agreement:

 

The Executive will be provided
with a grant of options to purchase 300,000 shares of common stock, vesting over year vesting in equal quarterly installments.
 The exercise price of the options shall be $1.52 per share and the term shall be 10 years. The Executive may be eligible
for additional equity incentive grants, subject to Executive’s continued employment and satisfactory job performance, which
may be made from time to time, by the Board, on the same terms as other executive employees of the Company. Terms and conditions
of all the equity incentive grants, will be in accordance with the terms of the Company’s Equity Incentive Plan in effect
at the time of each such grant.

 

Please execute below agreeing to the above amendment.

 

	 	Avalon (Shanghai) Healthcare Technology Co. Ltd.
	 	 
	 	By:/s/ Luisa Ingargiola
	 	Name: Luisa Ingargiola
	 	Title: Chief Financial Officer

 

ACKNOWLEDGED AND AGREED:

 

/s/ Meng Li

Meng LiExhibit 10.3

 

Avalon GloboCare Corp.

4400 Route 9 South, Suite 3100

Freehold, New Jersey 07728

 

February 20, 2020

 

Luisa Ingargiola

c/o Avalon GloboCare Corp.

4400 Route 9 South, Suite 3100

Freehold, New Jersey 07728

 

		Re:	Executive Retention Agreement

 

Ms. Ingargiola:

 

Reference is hereby
made to that certain Executive Retention Agreement entered between Avalon GloboCare Corp. (the “Company”) and yourself
dated February 21, 2017, as amended (the “Agreement”). In acknowledgment of your services to date and in order to properly
compensate you for your services going forward, we hereby agree to the following:

 

		1)	The amendment and restatement of Section 2.1.3 of the Agreement:

 

The Executive will be provided
with an additional grant of options to purchase [ 400,000 shares of common stock, vesting over one year in equal quarterly installments.
 The exercise price of the options shall be $1.52 per share and the term shall be ten years.

 

The Executive may be eligible for
additional equity incentive grants, subject to Executive’s continued employment and satisfactory job performance, which may
be made from time to time, by the Board, on the same terms as other executive employees of the Company. Terms and conditions
of all the equity incentive grants, will be in accordance with the terms of the Company’s Equity Incentive Plan in effect
at the time of each such grant.

 

Please execute below agreeing to the above
amendment.

 

	 	Avalon GloboCare Corp.
	 	 
	 	By:	/s/ David Jin
	 	Name:   	David Jin
	 	Title:	Chief Executive Officer

 

	ACKNOWLEDGED AND AGREED:	 
	 	 
	/s/ Luisa Ingargiola	 
	Luisa IngargiolaExhibit 4(vi)

 

DESCRIPTION OF THE REGISTRANT’S
SECURITIES

REGISTERED PURSUANT TO SECTION 12 OF
THE

SECURITIES EXCHANGE ACT OF 1934

 

The following description
sets forth certain material terms and provisions of the securities of Bluerock Residential Growth REIT, Inc. (the “Company”)
that are registered under Section 12 of the Securities Exchange Act of 1934, as amended. The rights of our stockholders are governed
by Maryland law as well as our charter and bylaws, and this description also summarizes relevant provisions of Maryland law. The
following summary does not purport to be complete and is subject to, and is qualified in its entirety by reference to, the applicable
provisions of Maryland law and our charter (including the applicable articles supplementary designating the terms of a class or
series of preferred stock) and our bylaws, copies of which are incorporated by reference as exhibits to the Annual Report
on Form 10-K of which this Exhibit 4(vi) is a part. We encourage you to read our charter, our bylaws and the applicable provisions
of Maryland law for additional information.

 

General

 

Our charter provides
that we may issue up to 750,000,000 shares of common stock, $0.01 par value per share, and 250,000,000 shares of preferred stock,
$0.01 par value per share.

 

Of our 750,000,000
authorized shares of common stock, 747,509,582 shares have been classified as Class A common stock, $0.01 par value per share;
804,605 shares have been classified as Class B-1 common stock, $0.01 par value per share; 804,605 shares have been classified as
Class B-2 common stock, $0.01 par value per share; 804,605 shares have been classified as Class B-3 common stock, $0.01 par value
per share; and 76,603 shares have been classified as Class C common stock, $0.01 par value per share. The Class A common stock
is listed on the NYSE American under the symbol “BRG.” As of December 31, 2019, there were issued and outstanding 23,422,557
shares of Class A common stock, and 76,603 shares of Class C common stock.

 

Of our 250,000,000
authorized shares of preferred stock, 10,875,000 shares have been classified as 8.250% Series A Cumulative Redeemable Preferred
Stock (“Series A Preferred Stock”); 1,225,000 shares have been classified as Series B Redeemable Preferred Stock (“Series
B Preferred Stock”); 4,000,000 shares have been classified as 7.625% Series C Cumulative Preferred Stock, $0.01 par value
per share (“Series C Preferred Stock”); 4,000,000 shares have been classified as 7.125% Series D Cumulative Preferred
Stock, $0.01 par value per share (“Series D Preferred Stock”); and 32,000,000 shares have been classified as Series
T Redeemable Preferred Stock (“Series T Preferred Stock”). In addition, we may issue warrants in connection with our
Series B Preferred Stock that are exercisable for up to an aggregate of 24,500,000 shares of our Class A common stock. The Series
A Preferred Stock, Series C Preferred Stock, and Series D Preferred Stock are each listed on the NYSE American under the symbols
 “BRG-PrA,” “BRG-PrC,” and “BRG-PrD,” respectively. Currently no market exists for the Series
B Preferred Stock, the Warrants, or the Series T Preferred Stock and we do not expect a market to develop. we currently have no
plan to list the Series B Preferred Stock, the Warrants, or the Series T Preferred Stock on any national securities exchange or
to include such shares for quotation on any national securities market. As of December 31, 2019, there were issued and outstanding
5,721,460 shares of Series A Preferred Stock, 536,695 shares of Series B Preferred Stock, 2,323,750 shares of Series C Preferred
Stock, 2,850,602 shares of Series D Preferred Stock, and 17,400 shares of Series T Preferred Stock.

 

As of December 31,
2019, there were outstanding (a) 6,384,467 units of limited partnership interest (“OP Units”) in Bluerock Residential
Holdings, L.P., a Delaware limited partnership of which we are the sole general partner (the “Operating Partnership”),
which OP Units may, subject to certain limitations, be redeemed for cash or, at our option, exchanged for shares of our Class A
common stock on a one-for-one basis; and (b) 2,598,465 units of a special class of partnership interest in our Operating Partnership
(“LTIP Units”), of which (i) 1,314,475 have vested, (ii) 305,708 will vest ratably on an annual basis over the applicable
three-year period that commenced upon issuance, (iii) 515,770 will vest at the end of the applicable three-year period that commenced
upon issuance, subject to certain performance-based vesting formulas, and (iv) 462,512 will vest ratably on an annual basis over
the applicable five-year period that commenced upon issuance. Upon vesting and reaching capital account equivalency with the OP
Units held by us, LTIP Units may convert to OP Units, and may then be settled in shares of our Class A common stock. In addition,
the 76,603 shares of our Class C common stock issued as Internalization consideration pursuant to the Contribution Agreement may
be converted, or automatically convert, in certain circumstances to shares of our Class A common stock on a one-for-one basis.
Other than those described above, there are no outstanding rights of any other kind in respect of our Class A common stock.

 

    	 	1	 

     

    

 

Our charter also contains
a provision permitting our board of directors, by resolution, to classify or reclassify any unissued common stock or preferred
stock into one or more classes or series of stock and establish the preferences, conversion or other rights, voting powers, restrictions,
limitations as to dividends or other distributions, qualifications, or terms or conditions of redemption of any such stock, subject
to certain restrictions, including the express terms of any class or series of stock outstanding at the time, such as the Preferred
Stock Restrictions (as defined herein). We believe that the power to classify or reclassify unissued shares of stock and thereafter
issue the classified or reclassified shares provides us with increased flexibility in structuring possible future financings and
acquisitions and in meeting other needs that might arise.

 

For purposes hereof,
(a) all classes or series of our capital stock ranking on parity with the Series A Preferred Stock, Series B Preferred Stock, Series
C Preferred Stock, Series D Preferred Stock and Series T Preferred Stock with respect to the payment of dividends and the distribution
of assets upon our liquidation, dissolution or winding up shall be referred to as “Parity Preferred Stock”; and (b)
all Parity Preferred Stock upon which like voting rights have also been conferred (which, as of December 31, 2019, includes the
Series A Preferred Stock, Series C Preferred Stock, Series D Preferred Stock, but does not include the Series T Preferred Stock
or Series B Preferred Stock) shall be referred to as “Voting Preferred Stock.”

 

So long as any shares
of any series of Voting Preferred Stock remain outstanding, in addition to any other vote or consent of stockholders required by
our charter, we may not, without the affirmative vote or consent of the holders of at least two-thirds of the outstanding shares
of the Voting Preferred Stock, voting together as a single class, amend any provision of our charter so as to materially and adversely
affect the terms of any series of such Voting Preferred Stock.

 

In addition, so long
as any shares of Series A Preferred Stock, Series C Preferred Stock, Series D Preferred Stock, or Series T Preferred Stock remain
outstanding, in addition to any other vote or consent of stockholders required by our charter, we may not, without the affirmative
vote or consent of the holders of the outstanding shares of Series T Preferred Stock and Voting Preferred Stock entitled to cast
two-thirds of all the votes entitled to be cast by such holders on such matter, voting together as a single class, amend our
charter, including the terms of the Series T Preferred Stock, that would alter only the contract rights, as expressly set forth
in our charter, of the Series T Preferred Stock and such Voting Preferred Stock, with each holder of Series T Preferred Stock and
such Voting Preferred Stock entitled to one vote for each $25.00 in liquidation preference.

 

Further, so long as
any shares of Series A Preferred Stock, Series B Preferred Stock, Series C Preferred Stock, Series D Preferred Stock, or Series
T Preferred Stock remain outstanding, in addition to any other vote or consent of stockholders required by our charter, we may
not (a) authorize, create or issue, or increase the number of authorized or issued shares of any class or series of capital stock
ranking senior to any such series of such preferred stock with respect to payment of dividends or the distribution of assets upon
our liquidation, dissolution or winding up (any such senior stock, the “Senior Stock”), (b) reclassify any of our authorized
capital stock into Senior Stock, or (c) create, authorize or issue any obligation or security convertible into or evidencing the
right to purchase Senior Stock, without the affirmative vote or consent of (1) a majority of all votes collectively entitled to
be cast by the holders of  (i) Series T Preferred Stock, and (ii) any Voting Preferred Stock; and (2) two-thirds of all
votes collectively entitled to be cast by the holders of  (i) Series A Preferred Stock, (ii) Series C Preferred Stock, (iii)
Series D Preferred Stock, and (iv) any future Parity Preferred Stock ( “Future Parity Preferred Stock”) upon which
like voting rights have been conferred; in each case, voting together as a single class, with each such holder entitled to one
vote for each $25.00 in liquidation preference; as well as (3) a majority of all votes cast by the holders of  (i) Series
A Preferred Stock, (ii) Series B Preferred Stock, (iii) Series C Preferred Stock, (iv) Series D Preferred Stock, (v) Series T Preferred
Stock, and (vi) any Future Parity Preferred Stock, voting together as a single class, with each such holder entitled to one vote
for each $1,000.00 in liquidation preference. We refer to these restrictions collectively as the Preferred Stock Restrictions.

 

Subject to the Preferred
Stock Restrictions, our board of directors may authorize the issuance of additional securities, including common stock, preferred
stock, convertible preferred stock and convertible debt, for cash, property or other consideration on such terms as it may deem
advisable, and may classify or reclassify any unissued shares of capital stock of our Company into other classes or series of stock
without approval of the holders of the outstanding securities. We may issue debt obligations with conversion privileges on such
terms and conditions as the directors may determine, whereby the holders of such debt obligations may acquire our common stock
or preferred stock. We may also issue warrants, options and rights to buy shares on such terms as the directors deem advisable,
despite the possible dilution in the value of the outstanding shares that may result from the exercise of such warrants, options
or rights to buy shares, as part of a ratable issue to stockholders, as part of a private or public offering, or as part of other
financial arrangements. Subject to the preferential rights of any holders of preferred stock, our board of directors, with the
approval of a majority of the directors and without any action by stockholders, may also amend our charter from time to time to
increase or decrease the aggregate number of shares of our stock or the number of shares of stock of any class or series that we
have authority to issue.

 

Under Maryland law,
stockholders are not generally liable for our debts or obligations.

 

    	 	2	 

     

    

 

Common Stock

 

Subject to the preferential
rights of our Series A Preferred Stock, our Series B Preferred Stock, our Series C Preferred Stock, our Series D Preferred Stock,
our Series T Preferred Stock, and any other class or series of preferred stock and any preferential rights of any other class or
series of stock and to the provisions of our charter regarding the restrictions on the ownership and transfer of stock, the holders
of our common stock are entitled to receive distributions authorized by our board of directors and declared by us out of legally
available funds after payment of, or provision for, full cumulative distributions on and any required redemptions of shares of
our Series A Preferred Stock, our Series B Preferred Stock, our Series C Preferred Stock, our Series D Preferred Stock and our
Series T Preferred Stock, and any other preferred stock then outstanding, and, upon our liquidation or dissolution, are entitled
to share ratably in the distributable assets of our Company remaining after satisfaction of the prior preferential rights of any
preferred stock and the satisfaction of all of our debts and liabilities. Holders of our common stock do not have preference, conversion,
exchange, sinking fund, or redemption rights or preemptive rights to subscribe for any of our securities, and generally have no
appraisal rights.

 

Subject to the restrictions
on ownership and transfer of stock contained in our charter and except as may otherwise be specified in our charter, each share
of our Class A common stock will have one vote per share and each share of our Class C common stock will have fifty votes per share
on all matters voted on by stockholders, including the election of directors. Because stockholders do not have cumulative voting
rights, holders of a majority of the outstanding shares of common stock can elect our entire board of directors. Generally, the
affirmative vote of a majority of all votes cast is necessary to take stockholder action, except that a plurality of all the votes
cast at a meeting at which a quorum is present is sufficient to elect a director, and except as set forth in the next paragraph.

 

Under Maryland law,
a Maryland corporation generally cannot dissolve, amend its charter, merge, convert, sell all or substantially all of its assets,
engage in a share exchange or engage in similar transactions outside the ordinary course of business, unless approved by the affirmative
vote of stockholders holding at least two-thirds of the shares entitled to vote on the matter. However, a Maryland corporation
may provide in its charter for approval of these matters by a lesser percentage, but not less than a majority of all of the votes
entitled to be cast on the matter. Our charter provides for a majority vote in these situations. Our charter further provides that
any or all of our directors may be removed from office at any time, but only for cause, and then only by the affirmative vote of
at least a majority of the votes entitled to be cast generally in the election of directors. For these purposes, “cause”
means, with respect to any particular director, conviction of a felony or final judgment of a court of competent jurisdiction holding
that such director caused demonstrable material harm to us through bad faith or active and deliberate dishonesty.

 

Each stockholder entitled
to vote on a matter may do so at a meeting in person or by proxy directing the manner in which he or she desires that his or her
vote be cast or without a meeting by a consent in writing or by electronic transmission. Any proxy must be received by us prior
to the date on which the vote is taken. Pursuant to Maryland law and our bylaws and subject in all respects to the terms of any
outstanding shares of preferred stock, if no meeting is held, 100% of the stockholders must consent in writing or by electronic
transmission to take effective action on behalf of our Company, unless the action is advised, and submitted to the stockholders
for approval, by our board of directors, in which case such action may be approved by the consent in writing or by electronic transmission
of stockholders entitled to cast not less than the minimum number of votes that would be necessary to authorize or take the action
at a meeting of stockholders.

 

Preferred Stock

 

Our charter authorizes
our board of directors, without further stockholder action, to provide for the issuance of up to 250,000,000 shares of preferred
stock, in one or more classes or series, with such terms, preferences, conversion or other rights, voting powers, restrictions,
limitations as to dividends or other distributions, qualifications and terms or conditions of redemption, as our board of directors
may approve, subject to the Preferred Stock Restrictions.

 

If any preferred stock
is publicly offered, the terms and conditions of such preferred stock, including any convertible preferred stock, will be set forth
in articles supplementary and described in a prospectus supplement relating to the issuance of such preferred stock, if such preferred
stock is registered. Because our board of directors has the power to establish the preferences and rights of each class or series
of preferred stock, it may afford the holders of any series or class of preferred stock preferences, powers, and rights senior
to the rights of holders of common stock or other preferred stock, subject to the Preferred Stock Restrictions. If we ever authorize,
create and issue additional preferred stock with a distribution preference over common stock or preferred stock, payment of any
distribution preferences of new outstanding preferred stock would reduce the amount of funds available for the payment of distributions
on the common stock and junior preferred stock. Further, holders of preferred stock are normally entitled to receive a preference
payment if we liquidate, dissolve, or wind up before any payment is made to the common stockholders, likely reducing the amount
common stockholders and junior preferred stockholders, if any, would otherwise receive upon such an occurrence. In addition, under
certain circumstances, the issuance of additional preferred stock may delay, prevent, render more difficult or tend to discourage
the following:

 

		•	a merger, tender offer,
or proxy contest;

 

    	 	3	 

     

    

 

		•	the assumption of control
by a holder of a large block of our securities; or

 

		•	the removal of incumbent
management.

 

Also, subject to the
Preferred Stock Restrictions, our board of directors, without stockholder approval, may issue additional preferred stock with voting
and conversion rights that could adversely affect the holders of common stock or preferred stock.

 

Series A Cumulative Redeemable Preferred Stock 

 

Our board of directors
has created out of the authorized and unissued shares of our preferred stock, a series of redeemable preferred stock, classified
as the 8.250% Series A Cumulative Redeemable Preferred Stock, $0.01 par value per share (the “Series A Preferred Stock”).

 

The following is a
brief description of the terms of our Series A Preferred Stock. The description of our Series A Preferred Stock contained herein
does not purport to be complete and is qualified in its entirety by reference to the Articles Supplementary classifying shares
of our preferred stock as shares of Series A Preferred Stock (the “Series A Articles Supplementary”), which have been
filed with the SEC and are incorporated by reference as exhibits to the Annual Report on Form 10-K of which this Exhibit 4(vi)
is a part.

 

Rank.  The
Series A Preferred Stock ranks, with respect to priority of dividend payments and rights upon liquidation, dissolution or winding
up:

 

		•	senior to all classes
or series of our common stock, and to any other class or series of our capital stock issued in the future, unless the terms of
that capital stock expressly provide that it ranks senior to, or on parity with, the Series A Preferred Stock.

 

		•	on parity with any class
or series of our capital stock, the terms of which expressly provide that it will rank on parity with the Series A Preferred Stock,
including the Series B Preferred Stock, the Series C Preferred Stock, the Series D Preferred Stock, and the Series T Preferred
Stock; and

 

		•	junior to any other
class or series of our capital stock, the terms of which expressly provide that it will rank senior to the Series A Preferred
Stock, none of which exists on the date hereof, and subject to payment of or provision for our debts and other liabilities.

 

Dividends.  Subject
to the preferential rights of the holders of any class or series of our capital stock ranking senior to the Series A Preferred
Stock with respect to priority of dividend payments, holders of shares of Series A Preferred Stock are entitled to receive cumulative
cash dividends on the Series A Preferred Stock when, as and if authorized by our board of directors and declared by us from and
including the date of original issue or the end of the most recent dividend period for which dividends on the Series A Preferred
Stock have been paid, payable quarterly in arrears on each January 5th, April 5th, July 5th and October 5th of each year. From
the date of original issue (or from the date of issue of any Series A Preferred Stock issued after October 21, 2015) to, but not
including, October 21, 2022, we will pay dividends at the rate of 8.250% per annum of the $25.00 liquidation preference per share
(equivalent to the fixed annual amount of $2.0625 per share) (the “Initial Rate”). Commencing October 21, 2022, we
will pay cumulative cash dividends at an annual dividend rate of the Initial Rate increased by 2.0% of the liquidation preference
per annum, which will increase by an additional 2.0% of the liquidation preference per annum on each subsequent anniversary thereafter,
subject to a maximum annual dividend rate of 14.0%. The first dividend payable on the Series A Preferred Stock, paid on January
5, 2016, was a pro rata dividend from and including the original issue date to and including December 31, 2015, in the amount of
$0.4010 per share.

 

Dividends will accrue
and be paid on the basis of a 360-day year consisting of twelve 30-day months. Dividends on the Series A Preferred Stock will accrue
and be cumulative from the end of the most recent dividend period for which dividends have been paid, or if no dividends have been
paid, from the date of original issue. Dividends on the Series A Preferred Stock will accrue whether or not (i) we have earnings,
(ii) there are funds legally available for the payment of such dividends and (iii) such dividends are authorized by our board of
directors or declared by us. Accrued dividends on the Series A Preferred Stock will not bear interest. If we fail to pay any dividend
within three (3) business days after the payment date for such dividend, the then-current dividend rate will increase following
the payment date by an additional 2.0% of the $25.00 stated liquidation preference, or $0.50 per annum, until we pay the dividend,
subject to our ability to cure the failure.

 

    	 	4	 

     

    

 

Liquidation Preference.  If
we liquidate, dissolve or wind up, holders of shares of the Series A Preferred Stock will have the right to receive $25.00 per
share of the Series A Preferred Stock, plus an amount equal to all accrued and unpaid dividends (whether or not authorized or declared)
to and including the date of payment, but without interest, before any distribution or payment is made to holders of our common
stock and any other class or series of capital stock ranking junior to the Series A Preferred Stock as to rights upon our liquidation,
dissolution or winding up.

 

The rights of holders
of shares of the Series A Preferred Stock to receive their liquidation preference are subject to the proportionate rights of holders
of shares of the Series B Preferred Stock, the Series C Preferred Stock, the Series D Preferred Stock, and the Series T Preferred
Stock, as well as any other class or series of our capital stock ranking on parity with the Series A Preferred Stock as to rights
upon our liquidation, dissolution or winding up, junior to the rights of any class or series of our capital stock expressly designated
as having liquidation preferences ranking senior to the Series A Preferred Stock, and subject to payment of or provision for our
debts and other liabilities.

 

After payment of the
full amount of the liquidating distributions to which they are entitled, the holders of shares of Series A Preferred Stock will
have no right or claim to any of our remaining assets. Our consolidation or merger with or into any other corporation, trust or
other entity, the consolidation or merger of any other corporation, trust or entity with or into us, the sale or transfer of any
or all our assets or business, or a statutory share exchange will not be deemed to constitute a liquidation, dissolution or winding-up
of our affairs.

 

In determining whether
a distribution (other than upon voluntary or involuntary liquidation), by dividend, redemption or other acquisition of shares of
our stock or otherwise, is permitted under the Maryland General Corporation Law (the “MGCL”) amounts that would be
needed, if we were to be dissolved at the time of distribution, to satisfy the preferential rights upon dissolution of holders
of the Series A Preferred Stock will not be added to our total liabilities.

 

Redemption at Option
of Holders.  After October 21, 2022, the holders of the Series A Preferred Stock may, at their option, elect to cause
us to redeem their shares at a redemption price of $25.00 per share, plus an amount equal to all accrued but unpaid dividends,
if any, to and including the redemption date, in cash or in shares of the Company’s Class A common stock, or any combination
thereof at our option; provided, a holder shall not have any right of redemption with respect to any shares of Series A Preferred
Stock being called for redemption pursuant to our Series A Preferred Stock Optional Redemption by the Company, our Series A Preferred
Stock Special Optional Redemption, or our Series A Preferred Stock Mandatory Redemption for Asset Coverage, each as described below,
to the extent we have delivered notice of our intent to redeem on or prior to the date of delivery of the holder’s notice
to redeem.

 

If we elect to redeem
some or all of the Series A Preferred Stock held by such redeeming holder in shares of our Class A common stock, the number of
shares of our Class A common stock per share of Series A Preferred Stock to be issued will be equal to the quotient obtained by
dividing (i) the sum of the $25.00 liquidation preference plus an amount equal to all accrued and unpaid dividends to and including
the redemption date (unless the redemption date is after a record date for a Series A Preferred Stock dividend payment and prior
to the corresponding Series A Preferred Stock dividend payment date, in which case no additional amount for such accrued and unpaid
dividend will be included in this sum) by (ii) the Common Stock Price (as defined below). Upon the redemption of Series A Preferred
Stock for shares of our Class A common stock, we will not issue fractional shares of our Class A common stock but will instead
pay the cash value of such fractional shares.

 

The “Common
Stock Price” will be (x) the volume weighted average of the closing sales price per share of our Class A common stock (or,
if no closing sale price is reported, the volume weighted average of the closing bid and ask prices or, if more than one in either
case, the volume weighted average of the volume weighted average closing bid and the volume weighted average closing ask prices)
for the ten (10) consecutive trading days immediately preceding, but not including, the Holder Redemption Date, as defined below,
as reported on the NYSE American or the principal U.S. securities exchange on which our Class A common stock is then traded, or
(y) the average of the last quoted bid prices for our Class A common stock in the over-the-counter market as reported by OTC Markets
Group, Inc. or similar organization for the ten (10) consecutive trading days immediately preceding, but not including, the Holder
Redemption Date, as defined below, if our Class A common stock is not then listed for trading on a U.S. securities exchange.

 

The Holder Redemption
Date will be (i) the 5th day of the month following the holder’s notice to redeem if such notice occurs on or before the
25th day of the month, or (ii) the 5th day of the second month following the holder’s notice to redeem if the holder’s
notice occurs after the 25th day of the month.

 

    	 	5	 

     

    

 

Series A Preferred
Stock Mandatory Redemption for Asset Coverage.  If we fail to maintain asset coverage of at least 200% calculated
by determining the percentage value of (1) our total assets plus accumulated depreciation minus our total liabilities and indebtedness
as reported in our financial statements prepared in accordance with accounting principles generally accepted in the United States,
or GAAP (exclusive of the book value of any Redeemable and Term Preferred Stock (as defined below)), over (2) the aggregate liquidation
preference, plus an amount equal to all accrued and unpaid dividends, of outstanding shares of our Series A Preferred Stock, our
Series C Preferred Stock, and any outstanding shares of term preferred stock or preferred stock providing for a fixed mandatory
redemption date or maturity date (which shall not include our Series B Preferred Stock, our Series D Preferred Stock, or our Series
T Preferred Stock) (collectively referred to herein as Redeemable and Term Preferred Stock) on the last business day of any calendar
quarter (the “Asset Coverage Ratio”), and such failure is not cured by the close of business on the date that is 30
calendar days following the filing date of our Annual Report on Form 10-K or Quarterly Report on Form 10-Q, as applicable, for
that quarter (the “Asset Coverage Cure Date”), then we will be required to redeem, within 90 calendar days of the Asset
Coverage Cure Date, shares of Redeemable and Term Preferred Stock, which may include Series A Preferred Stock, at least equal to
the lesser of (i) the minimum number of shares of Redeemable and Term Preferred Stock that will result in us having an Asset Coverage
Ratio of at least 200% and (ii) the maximum number of shares of Redeemable and Term Preferred Stock that can be redeemed solely
out of funds legally available for such redemption. In connection with any redemption for failure to maintain the Asset Coverage
Ratio, we may, in our sole option, redeem any shares of Redeemable and Term Preferred Stock we select, including on a non-pro rata
basis. We may elect not to redeem any Series A Preferred Stock to cure such failure as long as we cure our failure to meet the
Asset Coverage Ratio by or on the Asset Coverage Cure Date. We may also, in our sole option, redeem such additional number of shares
of Redeemable and Term Preferred Stock that will result in an Asset Coverage Ratio up to and including 285%.

 

If shares of Series
A Preferred Stock are to be redeemed for failure to maintain the Asset Coverage Ratio, such shares will be redeemed solely in cash
at a redemption price equal to $25.00 per share plus an amount equal to all accrued but unpaid dividends, if any, on such shares
(whether or not declared) to and including the redemption date.

 

Series A Preferred
Stock Optional Redemption by the Company.  Generally, we may not redeem the Series A Preferred Stock prior to October
21, 2020, except in limited circumstances relating to maintaining our qualification as a REIT, complying with our Asset Coverage
Ratio, and the Series A Preferred Stock Special Optional Redemption provision described below. On and after October 21, 2020, we
may, at our option, redeem the Series A Preferred Stock in whole or in part, at any time or from time to time, solely for cash
at a redemption price of $25.00 per share, plus an amount equal to all accrued and unpaid dividends (whether or not authorized
or declared), if any, to and including the redemption date. Any partial redemption will be on a pro rata basis (as nearly as practicable
without creating fractional shares), by lot or by any other equitable method, subject, in all cases to our ownership and transfer
restrictions.

 

Series A Preferred
Stock Special Optional Redemption.  Upon the occurrence of a Change of Control/Delisting (as defined below), we may,
at our option, redeem the Series A Preferred Stock in whole or in part within 120 days after the first date on which such Change
of Control/Delisting occurred, solely in cash at a redemption price of $25.00 per share, plus an amount equal to all accrued and
unpaid dividends, if any, to and including the redemption date.

 

Redemption at Option
of Holders Upon a Change of Control/Delisting.  If a Change of Control/Delisting occurs at any time the Series A
Preferred Stock is outstanding, then each holder of shares of Series A Preferred Stock shall have the right, at such holder’s
option, to require us to redeem for cash any or all of such holder’s shares of Series A Preferred Stock, on a date specified
by us that can be no earlier than 30 days and no later than 60 days following the date of delivery of the notice of the occurrence
of such Change of Control/Delisting and of the redemption right at the option of the holders arising as a result thereof, at a
redemption price equal to 100% of the liquidation preference of $25.00 per share plus an amount equal to all accrued but unpaid
dividends (whether or not authorized or declared), to and including such date; provided, a holder shall not have any right of redemption
with respect to any shares of Series A Preferred Stock being called for redemption pursuant to our optional redemption as described
under “Series A Preferred Stock Optional Redemption by the Company,” our special optional redemption as described under
 “Series A Preferred Stock Special Optional Redemption,” or our requirement to redeem described under “Series
A Preferred Stock Mandatory Redemption for Asset Coverage,” to the extent we have delivered notice of our intent to redeem
on or prior to the date of delivery of the holder’s notice to redeem.

 

We will mail to you,
if you are a record holder of the Series A Preferred Stock, a notice of redemption no fewer than 15 days nor more than 30 days
before the redemption date. We will send the notice to your address shown on our stock transfer books. A failure to give notice
of redemption or any defect in the notice or in its mailing will not affect the validity of the redemption of any Series A Preferred
Stock except as to the holder to whom notice was defective. Each notice will state the following:

 

		•	the redemption date;

 

		•	the redemption price;

 

		•	the number of shares
of Series A Preferred Stock to be redeemed;

 

		•	DTC’s procedures
for book entry transfer of Series A Preferred Stock for payment of the redemption price;

 

		•	that dividends on the
shares of Series A Preferred Stock to be redeemed will cease to accrue on such redemption date;

 

    	 	6	 

     

    

 

		•	that payment of the
redemption price and an amount equal to any accrued and unpaid dividends will be made upon book entry transfer of such Series
A Preferred Stock in compliance with DTC’s procedures; and

 

		•	that the Series A Preferred
Stock is being redeemed pursuant to our mandatory redemption in connection with the occurrence of a Change of Control/Delisting
and a brief description of the transaction or transactions constituting such Change of Control/Delisting.

 

If we have given a
notice of redemption and have set apart sufficient funds for the redemption in trust for the benefit of the holders of the Series
A Preferred Stock called for redemption, then from and after the redemption date, those shares of Series A Preferred Stock will
be treated as no longer being outstanding, no further dividends will accrue and all other rights of the holders of those shares
of Series A Preferred Stock will terminate. The holders of those shares of Series A Preferred Stock will retain their right to
receive the redemption price for their shares and an amount equal to all accrued and unpaid dividends, if any, to and including
the redemption date, without interest.

 

The holders of Series
A Preferred Stock at the close of business on a dividend record date will be entitled to receive the dividend payable with respect
to the Series A Preferred Stock on the corresponding payment date notwithstanding the redemption of the Series A Preferred Stock
between such record date and the corresponding payment date or our default in the payment of the dividend due. Except as provided
above, we will make no payment or allowance for unpaid dividends, whether or not in arrears, on Series A Preferred Stock to be
redeemed.

 

For purposes of the
Series A Preferred Stock, a “Change of Control/Delisting” is when, after the original issuance of the Series A Preferred
Stock, any of the following has occurred and is continuing:

 

		•	a “person”
or “group” within the meaning of Section 13(d) of the Exchange Act other than our Company, its subsidiaries, and its
and their employee benefit plans, has become the direct or indirect “beneficial owner,” as defined in Rule 13d-3 under
the Exchange Act, of our common equity representing more than 50% of the total voting power of all outstanding shares of our common
equity that are entitled to vote generally in the election of directors (“Voting Stock”); provided, that notwithstanding
the foregoing, such a transaction will not be deemed to involve a Change of Control/Delisting if (i) we become a direct or indirect
wholly-owned subsidiary of a holding company and (ii) the direct or indirect holders of the Voting Stock of such holding company
immediately following that transaction are substantially the same as the holders of our Voting Stock immediately prior to that
transaction;

 

		•	consummation of any
share exchange, consolidation or merger of the Company or any other transaction or series of transactions pursuant to which the
common stock will be converted into cash, securities or other property, other than any such transaction where the common stock
outstanding immediately prior to such transaction constitutes, or is converted into or exchanged for, a majority of the common
stock of the surviving person or any direct or indirect parent company of the surviving person immediately after giving effect
to such transaction;

 

		•	any sale, lease or other
transfer in one transaction or a series of transactions of all or substantially all of the consolidated assets of the Company
and its subsidiaries, taken as a whole, to any person other than one of the Company’s subsidiaries;

 

		•	the Company’s
stockholders approve any plan or proposal for the liquidation or dissolution of the Company;

 

		•	our Class A common stock
ceases to be listed or quoted on a national securities exchange in the United States; or

 

		•	Series A Continuing
Directors cease to constitute at least a majority of our board of directors.

 

For purposes of the
Series A Preferred Stock, “Series A Continuing Director” means a director who either was a member of our board of directors
on October 21, 2015 or who becomes a member of our board of directors subsequent to that date and whose appointment, election or
nomination for election by our stockholders was duly approved by a majority of the continuing directors on our board of directors
at the time of such approval, either by a specific vote or by approval of the proxy statement issued by our Company on behalf of
our board of directors in which such individual is named as nominee for director.

 

    	 	7	 

     

    

 

Limited Voting
Rights.  Holders of shares of the Series A Preferred Stock will generally have no voting rights. However, if dividends
on the Series A Preferred Stock are in arrears for each of six or more consecutive quarterly periods, the number of directors on
our board of directors will automatically be increased by two, and holders of shares of the Series A Preferred Stock and the holders
of all other classes or series of Voting Preferred Stock, including our Series C Preferred Stock and Series D Preferred Stock (voting
together as a single class) will be entitled to vote, at a special meeting called upon the written request of the holders of at
least 20% of such stock or at our next annual meeting and at each subsequent annual meeting of stockholders, for the election of
two additional directors to serve on our board of directors (the “Preferred Directors”), until all accrued and unpaid
dividends with respect to the Series A Preferred Stock and the other Parity Preferred Stock (including our Series B Preferred Stock,
our Series C Preferred Stock, our Series D Preferred Stock, and our Series T Preferred Stock), if any, have been paid in full or
declared and a sum sufficient for the payment thereof set apart for payment. The Preferred Directors will be elected by a plurality
of the votes cast in the election. For the avoidance of doubt, the board of directors shall not be permitted to fill the vacancies
on the board of directors as a result of the failure of 20% of the holders of Voting Preferred Stock to deliver such written request
for the election of the Preferred Directors.

 

So long as any shares
of Series A Preferred Stock remain outstanding, in addition to any other vote or consent of stockholders required by our charter,
we will not, without the affirmative vote or consent of the holders of at least two-thirds of the outstanding shares of Series
A Preferred Stock voting together as a single class with the other Parity Preferred Stock, authorize, create or issue, or increase
the number of authorized or issued shares of, any class or series of capital stock ranking senior to the Series A Preferred Stock
with respect to payment of dividends or the distribution of assets upon our liquidation, dissolution or winding up, or reclassify
any of our authorized capital stock into such capital stock, or create, authorize or issue any obligation or security convertible
into or evidencing the right to purchase such capital stock.

 

In addition, so long
as any shares of Series A Preferred Stock remain outstanding, we will not, without the affirmative vote or consent of the holders
of at least two-thirds of the outstanding shares of Series A Preferred Stock, amend, alter or repeal our charter, including the
terms of the Series A Preferred Stock, whether by merger, consolidation, transfer or conveyance of substantially all of our assets
or otherwise, so as to materially and adversely affect any right, preference, privilege or voting power of the Series A Preferred
Stock, except that with respect to the occurrence of any of the events set forth above, so long as the Series A Preferred Stock
remains outstanding with the terms of the Series A Preferred Stock materially unchanged, taking into account that, upon the occurrence
of an event set forth above, we may not be the surviving entity, the occurrence of such event will not be deemed to materially
and adversely affect the rights, preferences, privileges or voting power of the Series A Preferred Stock, and in such case such
holders shall not have any voting rights with respect to the events set forth above; provided, further, that with respect to any
such amendment, alteration or repeal that equally affects the terms of the Series A Preferred Stock and the other Voting Preferred
Stock, the affirmative vote or consent of the holders of two-thirds of the shares of Series A Preferred Stock and the other Voting
Preferred Stock (voting together as a single class) shall be required. Furthermore, if holders of shares of the Series A Preferred
Stock will receive the greater of the full trading price of the Series A Preferred Stock on the date of an event set forth above
or the $25.00 per share liquidation preference pursuant to the occurrence of any of the events set forth above or pursuant to a
special optional redemption by us or a redemption at the option of the holder upon a Change of Control/Delisting, then such holders
shall not have any voting rights with respect to the events set forth above.

 

In addition, and in
circumstances other than the voting issues addressed in the paragraph above, so long as any shares of Series A Preferred Stock
remain outstanding, the holders of shares of Series A Preferred Stock also will have the exclusive right to vote on any amendment,
alteration or repeal of our charter, including the terms of the Series A Preferred Stock, that would alter only the contract rights,
as expressly set forth in our charter, of the Series A Preferred Stock, and the holders of any other classes or series of our capital
stock will not be entitled to vote on such an amendment, alteration or repeal, with any such amendment requiring the affirmative
vote or consent of holders of two-thirds of the Series A Preferred Stock issued and outstanding at the time. With respect to any
amendment, alteration or repeal of our charter, including the terms of the Series A Preferred Stock, that equally affects the terms
of the Series A Preferred Stock and the other Voting Preferred Stock, so long as any shares of Series A Preferred Stock remain
outstanding, the holders of shares of Series A Preferred Stock and the other Voting Preferred Stock (voting together as a single
class), also will have the exclusive right to vote on any such amendment, alteration or repeal of our charter, including the terms
of the Series A Preferred Stock, that would alter only the contract rights, as expressly set forth in our charter, of the Series
A Preferred Stock and such other classes or series of preferred stock, and the holders of any other classes or series of our capital
stock will not be entitled to vote on such an amendment, alteration or repeal.

 

Holders of shares
of Series A Preferred Stock will not be entitled to vote with respect to any increase in the total number of authorized shares
of our common stock or preferred stock, any issuance or increase in the number of authorized shares of Series A Preferred Stock
or the creation or issuance of any other class or series of capital stock, or any issuance or increase in the number of authorized
shares of any class or series of capital stock, in each case ranking on parity with or junior to the Series A Preferred Stock with
respect to the payment of dividends and the distribution of assets upon liquidation, dissolution or winding up.

 

    	 	8	 

     

    

 

Series B Redeemable Preferred Stock

 

Our board of directors
has created out of the authorized and unissued shares of our preferred stock a series of redeemable preferred stock, classified
as the Series B Redeemable Preferred Stock, $0.01 par value per share (the “Series B Preferred Stock”). We are currently
authorized to issue up to 1,225,000 shares of our Series B Preferred Stock, which may be issued in Units, with each Unit consisting
of one share of Series B Preferred Stock and one Warrant to purchase up to 20 shares of our Class A common stock.

 

The following is a
brief description of the terms of our Series B Preferred Stock. The description of our Series B Preferred Stock contained herein
does not purport to be complete and is qualified in its entirety by reference to the Articles Supplementary for our Series B Preferred
Stock (the “Series B Articles Supplementary”), which have been filed with the SEC and are incorporated by reference
as exhibits to the Annual Report on Form 10-K of which this Exhibit 4(vi) is a part.

 

Rank.  Our
Series B Preferred Stock ranks, with respect to dividend rights and rights upon our liquidation, winding-up or dissolution:

 

		•	senior to all classes
or series of our common stock, and to any other class or series of our capital stock issued in the future unless the terms of
that capital stock expressly provide that it ranks senior to, or on parity with, the Series B Preferred Stock;

 

		•	on parity with any class
or series of our capital stock, the terms of which expressly provide that it will rank on parity with the Series B Preferred Stock,
including the Series A Preferred Stock, the Series C Preferred Stock, the Series D Preferred Stock, and the Series T Preferred
Stock; and

 

		•	junior to any other
class or series of our capital stock, the terms of which expressly provide that it will rank senior to the Series B Preferred
Stock, none of which exists on the date hereof, and subject to payment of or provision for our debts and other liabilities.

 

Investors in the Series
B Preferred Stock should note that, subject to the Cetera Side Letter (as hereinafter defined), holders of our Series B Preferred
Stock do not have a right to receive a return of capital prior to holders of our common stock upon the individual sale of a property.
To provide protection to the holders of the Series B Preferred Stock, the Cetera Side Letter restricts us from selling an asset
if the sale would cause us to fail to meet a dividend coverage ratio of no less than 1.1:1 based on the ratio of our adjusted funds
from operations to dividends required to be paid to holders of our Series A, Series B, Series C, Series D, and Series T Preferred
Stock for the two most recent quarters, subject to our ability to maintain status as a REIT for federal income tax purposes, as
further described herein. Depending on the price at which such property is sold, it is possible that holders of our common stock
will receive a return of capital prior to the holders of our Series B Preferred Stock, provided that any accrued but unpaid dividends
have been paid in full to holders of Series B Preferred Stock. It is also possible that holders of common stock will receive additional
distributions from the sale of a property (in excess of their capital attributable to the asset sold) before the holders of Series
B Preferred Stock receive a return of their capital. See “Series B Redeemable Preferred Stock — Cetera Side
Letter,” below

 

Stated Value.  Each
share of Series B Preferred Stock has an initial “Stated Value” of $1,000, subject to appropriate adjustment in relation
to certain events, such as recapitalizations, stock dividends, stock splits, stock combinations, reclassifications or similar events
affecting our Series B Preferred Stock, as set forth in the Series B Articles Supplementary.

 

Dividends.  Subject
to the preferential rights of the holders of any class or series of our capital stock ranking senior to our Series B Preferred
Stock, if any such class or series is authorized in the future, the holders of Series B Preferred Stock are entitled to receive,
when and as authorized by our board of directors and declared by us out of legally available funds, cumulative cash dividends on
each share of Series B Preferred Stock at an annual rate of six percent (6%) of the Stated Value. Dividends on each share of Series
B Preferred Stock will begin accruing on, and will be cumulative from, the date of issuance or the end of the most recent dividend
period for which dividends on the Series B Preferred Stock have been paid; provided, however, that any such dividend may
vary among holders of Series B Preferred Stock and may be prorated with respect to any shares of Series B Preferred Stock that
were outstanding less than the total number of days in the dividend period immediately preceding the applicable dividend payment
date, with the amount of any such prorated dividend being computed on the basis of the actual number of days in such dividend period
during which such shares of Series B Preferred Stock were outstanding. We expect to authorize and declare dividends on the Series
B Preferred Stock on a quarterly basis, payable monthly on the 5th day of the month (or if such day is not a business day, on the
next succeeding business day, with the same force and effect as if made on such date) to holders of record at the close of business
on the 25th day of the prior month, unless our results of operations, our general financing conditions, general economic conditions,
applicable provisions of Maryland law or other factors make it imprudent or impermissible to do so. The timing and amount of such
dividends will be determined by our board of directors, in its sole discretion, and may vary from time to time.

 

    	 	9	 

     

    

 

Dividends will accrue
and be paid on the basis of a 360-day year consisting of twelve 30-day months. Dividends on the Series B Preferred Stock will accrue
whether or not (i) we have earnings, (ii) there are funds legally available for the payment of such dividends and (iii) such dividends
are authorized by our board of directors or declared by us. Accrued dividends on the Series B Preferred Stock will not bear interest.

 

Holders of our shares
of Series B Preferred Stock are not entitled to any dividend in excess of full cumulative dividends on our shares of Series B Preferred
Stock. Unless full cumulative dividends on our shares of Series B Preferred Stock, Series A Preferred Stock, Series C Preferred
Stock, Series D Preferred Stock, and Series T Preferred Stock for all past dividend periods have been or contemporaneously are
declared and paid in full or declared and a sum sufficient for the payment thereof in full is set apart for payment, we will not:

 

		•	declare and pay or declare
and set apart for payment dividends or declare and make any other distribution of cash or other property (other than dividends
or distributions paid in shares of stock ranking junior to the Series B Preferred Stock as to the dividend rights or rights on
our liquidation, winding-up or dissolution, and options, warrants or rights to purchase such shares), directly or indirectly,
on or with respect to any shares of our common stock or any class or series of our stock ranking junior to or on parity with the
Series B Preferred Stock as to dividend rights or rights on our liquidation, winding-up or dissolution for any period; or

 

		•	except by conversion
into or exchange for shares of stock ranking junior to the Series B Preferred Stock as to dividend rights or rights on our liquidation,
winding-up or dissolution, or options, warrants or rights to purchase such shares, redeem, purchase or otherwise acquire (other
than a redemption, purchase or other acquisition of common stock made for purposes of an employee incentive or benefit plan) for
any consideration, or pay or make available any monies for a sinking fund for the redemption of, any common stock or any class
or series of our stock ranking junior to or on parity with the Series B Preferred Stock as to dividend rights or rights on our
liquidation, winding-up or dissolution.

 

To the extent necessary
to preserve our status as a REIT, the foregoing sentence, however, will not prohibit declaring or paying or setting apart for payment
any dividend or other distribution on our common stock or redeeming, purchasing or acquiring such stock.

 

Holders of our Series
B Preferred Stock are not eligible to participate in the Company’s dividend reinvestment plan.

 

Redemption at Option
of Holders.  Beginning on the date of original issuance of the shares of Series B Preferred Stock to be redeemed,
holders will have the right to require the Company to redeem such shares of Series B Preferred Stock at a redemption price equal
to the Stated Value, initially $1,000 per share, less a 13.0% redemption fee, plus an amount equal to all accrued but unpaid dividends
through and including the date of redemption.

 

Beginning one year
from the date of original issuance of the shares of Series B Preferred Stock to be redeemed, holders will have the right to require
the Company to redeem such shares of Series B Preferred Stock at a redemption price equal to the Stated Value, initially $1,000
per share, less a 10% redemption fee, plus an amount equal to all accrued but unpaid dividends through and including the date of
redemption.

 

Beginning three years
from the date of original issuance of the shares of Series B Preferred Stock to be redeemed, holders will have the right to require
the Company to redeem such shares of Series B Preferred Stock at a redemption price equal to the Stated Value, initially $1,000
per share, less a 5% redemption fee, plus an amount equal to all accrued but unpaid dividends through and including the date of
redemption.

 

Beginning four years
from the date of original issuance of the shares of Series B Preferred Stock to be redeemed, holders will have the right to require
the Company to redeem such shares of Series B Preferred Stock at a redemption price equal to the Stated Value, initially $1,000
per share, less a 3% redemption fee, plus an amount equal to all accrued but unpaid dividends through and including the date of
redemption.

 

Beginning five years
from the date of original issuance of the shares of Series B Preferred Stock to be redeemed, holders will have the right to require
the Company to redeem such shares of Series B Preferred Stock at a redemption price equal to 100% of the Stated Value, initially
$1,000 per share, plus an amount equal to all accrued but unpaid dividends through and including the date of redemption.

 

    	 	10	 

     

    

 

If a holder of Series
B Preferred Stock causes the Company to redeem such shares of Series B Preferred Stock, we have the right, in our sole discretion,
to pay the redemption price in cash or in equal value of shares of our Class A common stock, calculated based on the closing price
per share of our Class A common stock for the single trading day prior to the redemption.

 

However, our ability
to redeem shares of Series B Preferred Stock in cash may be limited to the extent that we do not have sufficient funds available
to fund such cash redemption. Further, our obligation to redeem any of the shares of Series B Preferred Stock submitted for redemption
in cash may be restricted by Maryland law.

 

Optional Redemption
Following Death of a Holder.  Subject to restrictions, beginning on the date of original issuance and ending two
years thereafter, we will redeem, and beginning on the second anniversary of the date of original issuance and ending three years
thereafter, we will repurchase without payment of a repurchase fee, shares of Series B Preferred Stock held by a natural person
upon his or her death at the written request of the holder’s estate at a redemption price equal to the Stated Value, plus
all accrued and unpaid dividends thereon through and including the date of redemption or repurchase; provided, however, that our
obligation to repurchase any of the shares of Series B Preferred Stock is limited to the extent that the terms and provisions of
any agreement to which we are a party prohibits such repurchase or provides that such repurchase would constitute a breach thereof
or a default thereunder. If a holder of Series B Preferred Stock, or a holder’s estate upon death of a holder, causes us
to redeem or repurchase (as applicable) such shares of Series B Preferred Stock, we have the right, in our sole discretion, to
pay the redemption or repurchase price in cash or in equal value of shares of our Class A common stock, calculated based on the
closing price per share of our Class A common stock for the single trading day prior to the date of redemption or repurchase. Our
ability to redeem or repurchase shares of Series B Preferred Stock in cash may be limited to the extent that we do not have sufficient
funds available to fund such cash redemption or repurchase. Further, our obligation to redeem or repurchase any of the shares of
Series B Preferred Stock submitted for redemption or repurchase in cash may be restricted by Maryland law.

 

Optional Redemption
by the Company.  Beginning two years from the date of issuance of shares of Series B Preferred Stock, we will have
the right (but not the obligation) to redeem any or all such shares of Series B Preferred Stock. We will redeem such shares of
Series B Preferred Stock to be redeemed at a redemption price equal to 100% of the Stated Value per share of Series B Preferred
Stock (initially, $1,000 per share), plus an amount equal to any accrued but unpaid dividends. We have the right, in our sole discretion,
to pay the redemption price in cash or in equal value of shares of our Class A common stock, calculated based on the closing price
per share of our Class A common stock for the single trading day prior to the redemption, in exchange for the Series B Preferred
Stock so redeemed.

 

We may exercise our
redemption right by delivering a written notice thereof to the holders of all, but not less than all, of the shares of Series B
Preferred Stock to be redeemed; provided, that we may, in our sole discretion (subject to certain restrictions set forth in the
Series B Articles Supplementary), designate all or any portion of such shares of Series B Preferred Stock as subject to redemption
pursuant to any such notice. Each such notice will include (i) the date on which the redemption shall occur, which date will be
no fewer than 14 days following the notice date; (ii) the price at which the redemption shall occur; (iii) the total number of
shares of Series B Preferred Stock to be redeemed; and (iv) such other information as required pursuant to the Series B Articles
Supplementary. In addition, if fewer than all of the shares of Series B Preferred Stock held by any holder are to be redeemed,
the notice will specify the number of shares of Series B Preferred Stock held by such holder to be redeemed (or the method for
determining that number).

 

Change of Control
Redemption by the Company.  Upon the occurrence of a Change of Control (as defined below), we will be required to
redeem all outstanding shares of the Series B Preferred Stock in whole within 60 calendar days after the first date on which such
Change of Control occurred, in cash at a redemption price of $1,000 per share, plus an amount equal to all accrued and unpaid dividends
(whether or not authorized or declared), if any, to and including the redemption date; provided, however, that if the Maryland
law solvency tests prohibit us from paying the full redemption price in cash, then we will pay such portion as would otherwise
violate the solvency tests in shares of our Class A common stock to holders of the Series B Preferred Stock on a pro rata basis,
calculated based on the closing price per share of our Class A common stock for the single trading day prior to the redemption.
Further, our obligation to redeem any of the shares of the Series B Preferred Stock in cash may be restricted by Maryland law.

 

We will mail to you,
if you are a record holder of the Series B Preferred Stock, a notice of redemption no fewer than 14 days before the redemption
date. We will send the notice to your address shown on our stock transfer books. A failure to give notice of redemption or any
defect in the notice or in its mailing will not affect the validity of the redemption of any Series B Preferred Stock except as
to the holder to whom notice was defective. Each notice will state the following:

 

		•	the redemption date;

 

		•	the redemption price;

 

    	 	11	 

     

    

 

		•	the number of shares
of Series B Preferred Stock to be redeemed;

 

		•	DTC’s procedures
for book entry transfer of Series B Preferred Stock for payment of the redemption price;

 

		•	that dividends on the
shares of Series B Preferred Stock to be redeemed will cease to accrue on such redemption date;

 

		•	that payment of the
redemption price and an amount equal to any accrued and unpaid dividends will be made upon book entry transfer of such Series
B Preferred Stock in compliance with DTC’s procedures; and

 

		•	that the Series B Preferred
Stock is being redeemed pursuant to our mandatory redemption in connection with the occurrence of a Change of Control and a brief
description of the transaction or transactions constituting such Change of Control.

 

If we have given a
notice of redemption and have set apart sufficient funds for the redemption in trust for the benefit of the holders of the Series
B Preferred Stock called for redemption with irrevocable instructions regarding the payment of the redemption price, then from
and after the redemption date, those shares of Series B Preferred Stock will be treated as no longer being outstanding, no further
dividends will accrue and all rights of the holders of those shares of Series B Preferred Stock will terminate. The holders of
those shares of Series B Preferred Stock will retain their right to receive the redemption price for their shares and an amount
equal to all accrued and unpaid dividends, if any, to and including the redemption date, without interest.

 

The holders of Series
B Preferred Stock at the close of business on a dividend record date will be entitled to receive the dividend payable with respect
to the Series B Preferred Stock on the corresponding payment date notwithstanding the redemption of the Series B Preferred Stock
between such record date and the corresponding payment date or our default in the payment of the dividend due. Except as provided
above, we will make no payment or allowance for unpaid dividends, whether or not in arrears, on Series B Preferred Stock to be
redeemed.

 

For purposes of the
Series B Preferred Stock, a “Change of Control” is when, after the original issuance of the Series B Preferred Stock,
any of the following has occurred and is continuing:

 

		•	a “person”
or “group” within the meaning of Section 13(d) of the Exchange Act other than our Company, its subsidiaries, and its
and their employee benefit plans, has become the direct or indirect “beneficial owner,” as defined in Rule 13d-3 under
the Exchange Act, of our Voting Stock (i.e., our common equity representing more than 50% of the total voting power of all outstanding
shares of our common equity that are entitled to vote generally in the election of directors); provided, that notwithstanding
the foregoing, such a transaction will not be deemed to involve a Change of Control if (i) we become a direct or indirect wholly-owned
subsidiary of a holding company and (ii) the direct or indirect holders of the Voting Stock of such holding company immediately
following that transaction are substantially the same as the holders of our Voting Stock immediately prior to that transaction;

 

		•	consummation of any
share exchange, consolidation or merger of our Company or any other transaction or series of transactions pursuant to which our
Class A common stock will be converted into cash, securities or other property, (1) other than any such transaction where the
shares of our Class A common stock outstanding immediately prior to such transaction constitute, or are converted into or exchanged
for, a majority of the common stock of the surviving person or any direct or indirect parent company of the surviving person immediately
after giving effect to such transaction, and (2) expressly excluding any such transaction preceded by our Company’s acquisition
of the capital stock of another company for cash, securities or other property, whether directly or indirectly through one of
our subsidiaries, as a precursor to such transaction; or

 

		•	Series B Continuing
Directors cease to constitute at least a majority of our board of directors.

 

“Series B Continuing
Director” means a director who either was a member of our board of directors on February 24, 2016 or who becomes a member
of our board of directors subsequent to that date and whose appointment, election or nomination for election by our stockholders
was duly approved by a majority of the continuing directors on our board of directors at the time of such approval, either by a
specific vote or by approval of the proxy statement issued by our Company on behalf of our board of directors in which such individual
is named as nominee for director.

 

    	 	12	 

     

    

 

Liquidation Preference.  Upon
any voluntary or involuntary liquidation, dissolution or winding-up of our affairs, before any distribution or payment shall be
made to holders of our common stock or any other class or series of capital stock ranking junior to our shares of Series B Preferred
Stock, the holders of shares of Series B Preferred Stock will be entitled to be paid out of our assets legally available for distribution
to our stockholders, after payment or provision for our debts and other liabilities, a liquidation preference equal to the Stated
Value per share, plus an amount equal to any accrued and unpaid dividends (whether or not declared) to and including the date of
payment, without interest, pari passu with the holders of shares of any other class or series of our capital ranking on parity
with the Series B Preferred Stock, including our Series A Preferred Stock, our Series C Preferred Stock, our Series D Preferred
Stock, and our Series T Preferred Stock as to the liquidation preference and accrued but unpaid dividends they are entitled to
receive.

 

After payment of the
full amount of the liquidating distributions to which they are entitled, the holders of our shares of Series B Preferred Stock
will have no right or claim to any of our remaining assets. Our consolidation or merger with or into any other corporation, trust
or other entity, the consolidation or merger of any other corporation, trust or entity with or into us, the sale or transfer of
any or all our assets or business, or a statutory share exchange will not be deemed to constitute a liquidation, dissolution or
winding-up of our affairs.

 

In determining whether
a distribution (other than upon voluntary or involuntary liquidation), by dividend, redemption or other acquisition of shares of
our stock or otherwise, is permitted under the MGCL, amounts that would be needed, if we were to be dissolved at the time of distribution,
to satisfy the preferential rights upon dissolution of holders of the Series B Preferred Stock will not be added to our total liabilities.

 

Voting Rights.  Our
Series B Preferred Stock has no voting rights, except as set forth in the Cetera Side Letter (as hereinafter defined). See “Series
B Redeemable Preferred Stock — Cetera Side Letter,” below

 

Exchange Listing.  We
do not plan on making an application to list the shares of our Series B Preferred Stock on the NYSE American, any other national
securities exchange or any other nationally recognized trading system. Our Class A common stock and our Series A Preferred Stock,
Series C Preferred Stock, and Series D Preferred Stock are listed on the NYSE American.

 

Cetera Side Letter

 

On February 6, 2017,
we entered into a side letter agreement with Cetera Financial Group, Inc., or Cetera, on behalf of itself and its affiliated broker
dealers who have been engaged to offer and sell the Series B Preferred Stock (the “Cetera Side Letter”), to provide
certain additional protections to the holders of Series B Preferred Stock (the “Series B Holders”) in addition to those
provided under our charter.

 

The following description
of the Cetera Side Letter is a summary and is qualified in its entirety by the terms set forth in the Cetera Side Letter, a copy
of which has been filed with the SEC and incorporated by reference as an exhibit to the Annual Report on Form 10-K of which this
Exhibit 4(vi) is a part.

 

Dividend Coverage Ratio

 

Under the terms of
the Cetera Side Letter, we have agreed, for so long as shares of Series B Preferred Stock remain outstanding, to maintain a Dividend
Coverage Ratio (as defined below) of not less than 1.1:1 (the “Series B Coverage Requirement”), as of the end
of each calendar quarter. Within five business days following the filing of our Quarterly Report on Form 10-Q or Annual Report
on Form 10-K, as applicable, for such calendar quarter (each, a “Testing Date”), we shall deliver a written certificate
to Cetera (i) certifying and demonstrating by calculation that we met the Series B Coverage Requirement as of the end of the
applicable calendar quarter and (ii) certifying that we are reasonably expected to maintain the Dividend Coverage Ratio for the
subsequent calendar quarter based solely on information known to our Chief Executive Officer, Chief Accounting Officer and Chief
Financial Officer, as applicable, as of such Testing Date. If we are not able to make both of these certifications, then following
such Testing Date, we will not be permitted to issue any additional preferred stock other than stock ranking junior to the Series
B Preferred Stock with respect to any other distributions or liquidation rights upon voluntary or involuntary liquidation, dissolution
or winding up of our affairs, or Junior Stock, nor to make any voluntary distributions on shares of our common stock or any other
class of Junior Stock (except as required to maintain our qualification as a REIT for federal income tax purposes) until and unless
the Series B Coverage Requirement is certified in a subsequent certificate.

 

    	 	13	 

     

    

 

For purposes of the
Cetera Side Letter, Dividend Coverage Ratio shall equal: (A) our Adjusted Funds from Operations, or AFFO, calculated in accordance
with commonly accepted industry standards and further adjusted to add back the expense of all preferred dividends, for the two
most recent quarters, plus the sum of: (1) the product of (a)(i) unrestricted cash on our balance sheet as reflected in our Quarterly
Report on Form 10-Q or Annual Report on Form 10-K, as applicable, filed at such Testing Date (the “Current Filing”),
minus (ii) an amount equal to the greater of $5,000,000 or 5.0% of the amount in subclause (i) (provided, if such calculation would
cause the amount to be negative, it will instead be equal to zero), multiplied by (b) a 5.0% annualized rate of return over such
quarterly period, and (2) the product of (a)(i) unrestricted cash on our balance sheet as reflected in the quarterly filing filed
immediately preceding the Current Filing, minus (ii) an amount equal to the greater of $5,000,000 or 5.0% of the amount in subclause
(i) (provided, if such calculation would cause the amount to be negative, it will instead be equal to zero), multiplied by (b)
a 5.0% annualized rate of return over such quarterly period; over (B) the amount of preferred dividends required to be distributed,
for such quarter, to (x) the Series B Holders, (y) the holders of any class or series of our capital stock the terms of which expressly
provide that it ranks on parity with the Series B Preferred Stock as to payment of dividends and the distribution of assets upon
our liquidation, dissolution or winding up (the “Parity Preferred Stock”), and (z) the holders of any class or series
of our capital stock the terms of which expressly provide that it ranks senior to the Series B Preferred Stock as to payment of
dividends and the distribution of assets upon our liquidation, dissolution or winding up (the “Senior Stock”).

 

Voting Rights

 

For so long as any
shares of Series B Preferred Stock remain outstanding and subject to be called for redemption, in addition to any other vote or
consent of stockholders required by our charter, the affirmative vote or consent of a majority of the votes cast by the Series
B Holders and by holders of Voting Preferred Stock (together, the Parity Holders), voting together as a single class, at a meeting
at which a majority of the outstanding shares of Parity Preferred Stock are present, in person or by proxy, shall be required to
(a) authorize, create or issue, or increase the number of authorized or issued shares of, any class or series of Senior Stock,
(b) reclassify any authorized shares of our capital stock into Senior Stock, or (c) create, authorize or issue any obligation or
security convertible into or evidencing the right to purchase Senior Stock (collectively, the Parity Preferred Voting Right). Each
share of Series B Preferred Stock is entitled to one vote per $1,000.00 of liquidation preference, and each other share of Parity
Preferred Stock is entitled to one vote per $1,000.00 of liquidation preference. The Series B Holders otherwise have no voting
rights.

 

At any time when the
Parity Preferred Voting Right applies, a proper officer of the Company shall call or cause to be called a special meeting of the
Parity Holders by mailing or causing to be mailed to such Parity Holders a notice of such special meeting to be held not fewer
than ten (10) nor more than forty-five (45) days after the date such notice is given. The record date for determining Parity Holders
of the Parity Preferred Stock entitled to notice of and to vote at such special meeting will be the close of business on the third
business day preceding the day on which such notice is mailed. Notice of all meetings at which Series B Holders shall be entitled
to vote will be given to such Series B Holders at their addresses as they appear in our transfer records, and to Cetera at the
address specified in the Cetera Side Letter.

 

Further Protections

 

For so long as any
shares of Series B Preferred Stock remain outstanding, we have agreed as follows: (1) neither we, the Operating Partnership, nor
any controlled subsidiary thereof may take any corporate action that restricts our ability to redeem Series B Preferred Stock with
shares of the our Class A common stock, or that is intended to or that could be reasonably expected to cause the rights of the
Series B Holders under the Cetera Side Letter to be terminated or materially, adversely affected; and (2) we will not sell an asset
if such sale would cause us to fail to meet the Series B Coverage Requirement, unless such sale is reasonably necessary for
us to maintain our qualification as a REIT for federal income tax purposes, as determined by a majority of our independent directors.

 

Class A Common Stock Warrants for
Series B Preferred Stock

 

The following is a
brief summary of the Warrants associated with our Series B Preferred Stock and is subject to, and qualified in its entirety by,
the terms set forth in the Warrant Agreement (as defined below) and global warrant certificate filed with the SEC and incorporated
by reference as exhibits to the Annual Report on Form 10-K of which this Exhibit 4(vi) is a part.

 

Warrant Agreement.  The
Warrants to be issued in connection with our Series B Preferred Stock will be governed by a warrant agreement (the “Warrant
Agreement”). The Warrants will be issued either in certificated form or by “book-entry” form, in either case
to DTC, and evidenced by one or more global warrants. Those investors who own beneficial interests in a global warrant do so through
participants in DTC’s system, and the rights of these indirect owners will be governed solely by the Warrant Agreement and
the applicable procedures and requirements of the DTC. The Warrants may be exercised by the holders of beneficial interest in the
Warrants by delivering to the warrant agent, through a broker who is a DTC participant, prior to the expiration of such Warrants,
a duly signed exercise notice and payment of the exercise price for the shares of our Class A common stock for which such Warrants
are being exercised, as described in more detail below.

 

    	 	14	 

     

    

 

Exercisability.  Holders
may exercise the Warrants at any time beginning one year from the date of issuance, and ending at 5:00 p.m., New York time, on
the date that is the fourth anniversary of such date of issuance. The Warrants are exercisable, at the option of each holder, in
whole, but not in part, by delivering to the warrant agent a duly executed exercise notice accompanied by payment in full for the
number of shares of our Class A common stock purchased upon such exercise (except in the case of a cashless exercise in the circumstances
discussed below). Each Warrant is exercisable for 20 shares of our Class A common stock (subject to adjustment, as discussed below).
A holder of Warrants does not have the right to exercise any portion of a Warrant to the extent that, after giving effect to the
issuance of shares of our Class A common stock upon such exercise, the holder (together with its affiliates and any other persons
acting as a group together with such holder or any of its affiliates) would beneficially or constructively own in excess of 9.8%
in value of the shares of our capital stock outstanding or in excess of 9.8% (in value or number of shares, whichever is more restrictive)
of the shares of our common stock outstanding, in each case, immediately after giving effect to the issuance of shares of our Class
A common stock upon exercise of the Warrant.

 

Cashless Exercise.  The
holder may satisfy its obligation to pay the exercise price upon the exercise of its Warrant on a cashless basis in accordance
with the terms of the Warrant Agreement. When exercised on a cashless basis, a portion of the Warrant is cancelled in payment of
the purchase price payable in respect of the number of shares of our Class A common stock purchasable upon such exercise. Any Warrant
that is outstanding on the termination date of the Warrant shall be automatically terminated.

 

Exercise Price.  The
exercise price of the Class A common stock purchasable upon exercise of the Warrants equals a 20% premium to the current market
price per share of our Class A common stock on the date of issuance of such Warrant, subject to a minimum exercise price of $10.00
per share. The current market price will be determined using the volume weighted average price per share of our Class A common
stock for the 20 trading days immediately prior to the date of the issuance of the Warrant. The exercise price and the number of
shares of our Class A common stock issuable upon exercise of the Warrants is subject to appropriate adjustment from time to time
in relation to the following events or actions in respect of the Company: (i) we declare a dividend or make a distribution on our
outstanding Class A common stock in Class A common stock; (ii) we subdivide or reclassify our outstanding Class A common stock
into a greater number of shares of our Class A common stock; (iii) we combine or reclassify our outstanding Class A common stock
into a smaller number of shares of our Class A common stock; or (iv) we enter into any transaction whereby the outstanding shares
of our Class A common stock are at any time changed into or exchanged for a different number or kind of shares or other securities
of the Company or of another entity through reorganization, merger, consolidation, liquidation or recapitalization.

 

Transferability.  Subject
to applicable law, the Warrants may be transferred at the option of the holder upon surrender of the Warrants with the appropriate
instruments of transfer.

 

Exchange Listing.  We
do not plan on making an application to list the Warrants on the NYSE American, any other national securities exchange or other
nationally recognized trading system. Our Class A common stock and our Series A Preferred Stock, Series C Preferred Stock, and
Series D Preferred Stock are listed on the NYSE American.

 

Rights as Stockholder.  Except
as otherwise provided in the Warrants or by virtue of such holder’s ownership of shares of our Class A common stock, the
holders of the Warrants will not have the rights or privileges of holders of our Class A common stock, including any voting rights,
until they exercise their Warrants.

 

Fractional Shares.  No
fractional shares of Class A common stock will be issued upon the exercise of the Warrants. Rather, we shall, at our election,
either pay a cash adjustment in respect of such fraction in an amount equal to such fraction multiplied by the exercise price or
round up the number of shares of Class A common stock to be issued to the nearest whole number.

 

Series C Cumulative Redeemable Preferred
Stock

 

Our board of directors
has created out of the authorized and unissued shares of our preferred stock, a series of redeemable preferred stock, classified
as the 7.625% Series C Cumulative Redeemable Preferred Stock (the “Series C Preferred Stock”).

 

The following is a
brief description of the terms of our Series C Preferred Stock. The description of our Series C Preferred Stock contained herein
does not purport to be complete and is qualified in its entirety by reference to the Articles Supplementary classifying shares
of our preferred stock as shares of Series C Preferred Stock (the “Series C Articles Supplementary”), which have been
filed with the SEC and are incorporated by reference as exhibits to the Annual Report on Form 10-K of which this Exhibit 4(vi)
is a part.

 

Rank.  The
Series C Preferred Stock ranks, with respect to priority of dividend payments and rights upon voluntary or involuntary liquidation,
dissolution or winding up of our affairs:

 

		•	senior to all classes
or series of our common stock, and to any other class or series of our capital stock issued in the future, unless the terms of
that capital stock expressly provide that it ranks senior to, or on parity with, the Series C Preferred Stock;

 

    	 	15	 

     

    

 

		•	on parity with any class
or series of our capital stock, the terms of which expressly provide that it will rank on parity with the Series C Preferred Stock,
including the Series A Preferred Stock, Series B Preferred Stock and Series D Preferred Stock; and

 

		•	junior to any other
class or series of our capital stock, the terms of which expressly provide that it will rank senior to the Series C Preferred
Stock, none of which exists on the date hereof.

 

Dividends.  Subject
to the preferential rights of the holders of any class or series of our capital stock ranking senior to the Series C Preferred
Stock with respect to priority of dividend payments, holders of shares of the Series C Preferred Stock are entitled to receive
cumulative cash dividends on the Series C Preferred Stock when, as and if authorized by our board of directors and declared by
us from and including the date of original issue or the first day following the end of the most recent dividend period for which
dividends on the Series C Preferred Stock have been paid, payable quarterly in arrears on each January 5th, April 5th,
July 5th and October 5th of each year. Holders of shares of Series C Preferred Stock will not be
entitled to receive dividends paid on any dividend payment date if such shares were not issued and outstanding on the record date
for such dividend. From the date of original issue to, but not including, July 19, 2023, we will pay cumulative cash dividends
at the rate of 7.625% per annum of the $25.00 liquidation preference per share of the Series C Preferred Stock (equivalent to the
fixed annual amount of $1.90625 per share of the Series C Preferred Stock (the “Series C Initial Rate”). Commencing
July 19, 2023, we will pay cumulative cash dividends at an annual dividend rate of the Series C Initial Rate increased by 2.0%
of the liquidation preference per annum, or $0.50 per annum, which will increase by an additional 2.0% of the liquidation preference
per annum, or $0.50 per annum, on each subsequent anniversary thereafter, subject to a maximum annual dividend rate of 14.0%. The
first dividend on the Series C Preferred Stock, paid on October 5, 2016, was a pro rata dividend from and including the original
issue date to and including September 30, 2016, in the amount of $0.39184 per share.

 

Dividends on the Series
C Preferred Stock will accrue and be cumulative from the end of the most recent dividend period for which dividends on the Series
C Preferred Stock have been paid, or if no dividends have been paid, from and including the date of original issuance. Dividends
on the Series C Preferred Stock will accrue whether or not (i) we have earnings, (ii) there are funds legally available for the
payment of such dividends and (iii) such dividends are authorized by our board of directors or declared by us. Accrued dividends
on the Series C Preferred Stock will not bear interest. If we fail to pay or set apart for payment any dividend within three (3)
business days after the payment date for such dividend, the then-current dividend rate will increase following the payment date
by an additional 2.0% of the $25.00 stated liquidation preference, or $0.50 per annum, until we pay the dividend, subject to our
ability to cure the failure.

 

Liquidation Preference.  If
we liquidate, dissolve or wind up, holders of shares of the Series C Preferred Stock will have the right to receive $25.00 per
share of the Series C Preferred Stock, plus an amount equal to all accrued but unpaid dividends (whether or not authorized or declared)
to and including the date of payment, but without interest, before any distribution or payment is made to holders of our common
stock and any other class or series of capital stock ranking junior to the Series C Preferred Stock as to rights upon our liquidation,
dissolution or winding up.

 

The rights of holders
of shares of the Series C Preferred Stock to receive their liquidation preference will be subject to the proportionate rights of
holders of shares of any other class or series of our capital stock ranking on parity with the Series C Preferred Stock, including
our Series A Preferred Stock, our Series B Preferred Stock, and our Series D Preferred Stock, as to rights upon our liquidation,
dissolution or winding up, junior to the rights of any class or series of our capital stock expressly designated as having liquidation
preferences ranking senior to the Series C Preferred Stock, and subject to payment of or provision for our debts and other liabilities.

 

After payment of the
full amount of the liquidating distributions to which they are entitled, the holders of our shares of Series C Preferred Stock
will have no right or claim to any of our remaining assets. Our consolidation or merger with or into any other corporation, trust
or other entity, the consolidation or merger of any other corporation, trust or entity with or into us, the sale or transfer of
any or all our assets or business, or a statutory share exchange will not be deemed to constitute a liquidation, dissolution or
winding-up of our affairs.

 

In determining whether
a distribution (other than upon voluntary or involuntary liquidation), by dividend, redemption or other acquisition of shares of
our stock or otherwise, is permitted under the MGCL, amounts that would be needed, if we were to be dissolved at the time of distribution,
to satisfy the preferential rights upon dissolution of holders of the Series C Preferred Stock will not be added to our total liabilities.

 

Redemption at Option
of Holders.  Commencing on July 20, 2023, the holders of the Series C Preferred Stock may, at their option, elect
to cause us to redeem their shares at a redemption price of $25.00 per share, plus an amount equal to all accrued but unpaid dividends,
if any, to and including the redemption date, in cash or in shares of our Class A common stock, or any combination thereof, at
our option; provided, a holder shall not have any right of redemption with respect to any shares of Series C Preferred Stock being
called for redemption pursuant to our Series C Preferred Stock Optional Redemption by the Company, our Series C Preferred Stock
Special Optional Redemption, or our Series C Preferred Stock Mandatory Redemption for Asset Coverage, each as described below,
to the extent we have delivered notice of our intent to redeem on or prior to the date of delivery of the holder’s notice
to redeem.

 

    	 	16	 

     

    

 

Such redemptions of
Series C Preferred Stock shall be payable either in cash, in shares of our Class A common stock, or any combination thereof, at
our option. If we elect to redeem some or all of the Series C Preferred Stock held by such redeeming holder in shares of our Class
A common stock, the number of shares of our Class A common stock per share of Series C Preferred Stock to be issued will be equal
to the quotient obtained by dividing (i) the sum of the $25.00 liquidation preference plus an amount equal to all accrued but unpaid
dividends to and including the redemption date (unless the redemption date is after a record date for a Series C Preferred Stock
dividend payment and prior to the corresponding Series C Preferred Stock dividend payment date, in which case no additional amount
for such accrued but unpaid dividend will be included in this sum) by (ii) the Common Stock Price (as defined below). Upon the
redemption of Series C Preferred Stock for shares of our Class A common stock, we will not issue fractional shares of our Class
A common stock but will instead pay the cash value of such fractional shares.

 

The “Common
Stock Price” will be (x) the volume weighted average of the closing sales price per share of our Class A common stock (or,
if no closing sale price is reported, the volume weighted average of the closing bid and ask prices or, if more than one in either
case, the volume weighted average of the volume weighted average closing bid and the volume weighted average closing ask prices)
for the ten (10) consecutive trading days immediately preceding, but not including, the Holder Redemption Date as reported on the
NYSE American or the principal U.S. securities exchange on which our Class A common stock is then traded, or (y) the average of
the last quoted bid prices for our common stock in the over-the-counter market as reported by OTC Markets Group, Inc. or similar
organization for the ten (10) consecutive trading days immediately preceding, but not including, the Holder Redemption Date, if
our Class A common stock is not then listed for trading on a U.S. securities exchange.

 

The Holder Redemption
Date will be (i) the 5th day of the month (or, if such day is not a business day, the next succeeding business
day) following the holder’s notice to redeem if such notice occurs on or before the 25th day of the month,
or (ii) the 5th day of the second month (or, if such day is not a business day, the next succeeding business day)
following the holder’s notice to redeem if the holder’s notice occurs after the 25th day of the month.

 

Series C Preferred
Stock Mandatory Redemption for Asset Coverage.  If we fail to maintain asset coverage of at least 200% calculated
by determining the percentage value of (1) our total assets plus accumulated depreciation minus our total liabilities and indebtedness
as reported in our financial statements prepared in accordance with GAAP (exclusive of the book value of any Redeemable and Term
Preferred Stock (as defined herein)), over (2) the aggregate liquidation preference, plus an amount equal to all accrued but unpaid
dividends, of our outstanding Series A Preferred Stock, Series C Preferred Stock, and any other outstanding shares of term preferred
stock or preferred stock providing for a fixed mandatory redemption date or maturity date (which shall not include our Series B
Preferred Stock nor our Series D Preferred Stock) (collectively referred to herein as “Redeemable and Term Preferred Stock”)
on the last business day of any calendar quarter (“Asset Coverage Ratio”), and such failure is not cured by the close
of business on the date that is 30 calendar days following the filing date of our Annual Report on Form 10-K or Quarterly Report
on Form 10-Q, as applicable, for that quarter (the “Asset Coverage Cure Date”), then we will be required to redeem,
within 90 calendar days of the Asset Coverage Cure Date, shares of Redeemable and Term Preferred Stock, which may include Series
C Preferred Stock, at least equal to the lesser of (1) the minimum number of shares of Redeemable and Term Preferred Stock that
will result in us having an Asset Coverage Ratio of at least 200% and (2) the maximum number of shares of Redeemable and Term Preferred
Stock that can be redeemed solely out of funds legally available for such redemption. In connection with any redemption for failure
to maintain such Asset Coverage Ratio, we may, in our sole option, redeem any shares of Redeemable and Term Preferred Stock we
select, including on a non-pro rata basis. We may elect not to redeem any Series C Preferred Stock to cure such failure as long
as we cure our failure to meet the Asset Coverage Ratio by or on the Asset Coverage Cure Date. We may also, in our sole option
within such time period, redeem such additional number of shares of Redeemable and Term Preferred Stock that will result in an
Asset Coverage Ratio up to and including 285%.

 

If shares of Series
C Preferred Stock are to be redeemed for failure to maintain the Asset Coverage Ratio, such shares will be redeemed solely in cash
at a redemption price equal to $25.00 per share plus an amount equal to all accrued but unpaid dividends, if any, on such shares
(whether or not declared) to and including the redemption date.

 

Series C Preferred
Stock Optional Redemption by the Company.  Generally, we may not redeem the Series C Preferred Stock prior to July
19, 2021, except in limited circumstances relating to maintaining our qualification as a REIT, complying with our Asset Coverage
Ratio, and the Series C Preferred Stock Special Optional Redemption provision described below. On and after July 19, 2021, we may,
at our option, upon not fewer than 30 and not more than 60 days’ written notice, redeem the Series C Preferred Stock, in
whole or in part, at any time or from time to time, solely for cash at a redemption price of $25.00 per share, plus an amount equal
to all accrued but unpaid dividends (whether or not authorized or declared) to and including the date fixed for redemption, without
interest, to the extent we have funds legally available for that purpose. Any partial redemption will be on a pro rata basis.

 

    	 	17	 

     

    

 

Series C Preferred
Stock Special Optional Redemption.  Upon the occurrence of a Change of Control/Delisting (as defined below), we may,
at our option, redeem the Series C Preferred Stock, in whole or in part within 120 days after the first date on which such Change
of Control/Delisting occurred, solely in cash at a redemption price of $25.00 per share, plus an amount equal to any accrued but
unpaid dividends to, and including, the redemption date. For purposes of the Series C Preferred Stock, the terms “Change
of Control/Delisting” and “Continuing Director” are defined as set forth above under “Series A Cumulative
Redeemable Preferred Stock”; provided, that a Change of Control/Delisting will be deemed to have occurred with respect to
the Series C Preferred Stock only where the triggering event has occurred and is continuing after the original issuance of the
Series C Preferred Stock.

 

Redemption at Option
of Holders Upon a Change of Control/Delisting.  If a Change of Control/Delisting occurs at any time the Series C
Preferred Stock is outstanding, then each holder of shares of Series C Preferred Stock shall have the right, at such holder’s
option, to require us to redeem for cash any or all of such holder’s shares of Series C Preferred Stock, on a date specified
by us that can be no earlier than 30 days and no later than 60 days following the date of delivery of the notice of the occurrence
of such Change of Control/Delisting and of the redemption right at the option of the holders arising as a result thereof, at a
redemption price equal to 100% of the liquidation preference of $25.00 per share plus an amount equal to all accrued but unpaid
dividends (whether or not authorized or declared), to and including such date; provided, a holder shall not have any right of redemption
with respect to any shares of Series C Preferred Stock being called for redemption pursuant to our Series C Preferred Stock Optional
Redemption by the Company or our Series C Preferred Stock Special Optional Redemption to the extent we have delivered notice of
our intent to redeem on or prior to the date of delivery of such notice.

 

We will mail to you,
if you are a record holder of the Series C Preferred Stock, a notice of redemption no fewer than 15 days nor more than 30 days
before the redemption date. We will send the notice to your address shown on our stock transfer books. A failure to give notice
of redemption or any defect in the notice or in its mailing will not affect the validity of the redemption of any Series C Preferred
Stock except as to the holder to whom notice was defective. Each notice will state the following:

 

		•	the redemption date;

 

		•	the redemption price;

 

		•	the number of shares
of Series C Preferred Stock to be redeemed;

 

		•	DTC’s procedures
for book entry transfer of Series C Preferred Stock for payment of the redemption price;

 

		•	that dividends on the
shares of Series C Preferred Stock to be redeemed will cease to accrue on such redemption date;

 

		•	that payment of the
redemption price and an amount equal to any accrued and unpaid dividends will be made upon book entry transfer of such Series
C Preferred Stock in compliance with DTC’s procedures; and

 

		•	that the Series C Preferred
Stock is being redeemed pursuant to our mandatory redemption in connection with the occurrence of a Change of Control/Delisting
and a brief description of the transaction or transactions constituting such Change of Control/Delisting.

 

If we have given a
notice of redemption and have set apart sufficient funds for the redemption in trust for the benefit of the holders of the Series
C Preferred Stock called for redemption, then from and after the redemption date, those shares of Series C Preferred Stock will
be treated as no longer being outstanding, no further dividends will accrue and all other rights of the holders of those shares
of Series C Preferred Stock will terminate. The holders of those shares of Series C Preferred Stock will retain their right to
receive the redemption price for their shares and an amount equal to all accrued and unpaid dividends, if any, to and including
the redemption date, without interest.

 

The holders of Series
C Preferred Stock at the close of business on a dividend record date will be entitled to receive the dividend payable with respect
to the Series C Preferred Stock on the corresponding payment date notwithstanding the redemption of the Series C Preferred Stock
between such record date and the corresponding payment date or our default in the payment of the dividend due. Except as provided
above, we will make no payment or allowance for unpaid dividends, whether or not in arrears, on Series C Preferred Stock to be
redeemed.

 

    	 	18	 

     

    

 

For purposes of the
Series C Preferred Stock, a “Change of Control/Delisting” is when, after the original issuance of the Series C Preferred
Stock, any of the following has occurred and is continuing:

 

		•	a “person”
or “group” within the meaning of Section 13(d) of the Exchange Act other than our Company, its subsidiaries, and its
and their employee benefit plans, has become the direct or indirect “beneficial owner,” as defined in Rule 13d-3 under
the Exchange Act, of our Voting Stock (i.e., our common equity representing more than 50% of the total voting power of all outstanding
shares of our common equity that are entitled to vote generally in the election of directors); provided, that notwithstanding
the foregoing, such a transaction will not be deemed to involve a Change of Control if (i) we become a direct or indirect wholly-owned
subsidiary of a holding company and (ii) the direct or indirect holders of the Voting Stock of such holding company immediately
following that transaction are substantially the same as the holders of our Voting Stock immediately prior to that transaction;

 

		•	consummation of any
share exchange, consolidation or merger of the Company or any other transaction or series of transactions pursuant to which the
common stock will be converted into cash, securities or other property, other than any such transaction where the common stock
outstanding immediately prior to such transaction constitute, or are converted into or exchanged for, a majority of the common
stock of the surviving person or any direct or indirect parent company of the surviving person immediately after giving effect
to such transaction;

 

		•	any sale, lease or other
transfer in one transaction or a series of transactions of all or substantially all of the consolidated assets of the Company
and its subsidiaries, taken as a whole, to any person other than one of the Company’s subsidiaries;

 

		•	the Company’s
stockholders approve any plan or proposal for the liquidation or dissolution of the Company;

 

		•	our Class A common stock
ceases to be listed or quoted on a national securities exchange in the United States; or

 

		•	Series C Continuing
Directors cease to constitute at least a majority of our board of directors.

 

For purposes of the
Series C Preferred Stock, “Series C Continuing Director” means a director who either was a member of our board of directors
on October 21, 2015 or who becomes a member of our board of directors subsequent to that date and whose appointment, election or
nomination for election by our stockholders was duly approved by a majority of the continuing directors on our board of directors
at the time of such approval, either by a specific vote or by approval of the proxy statement issued by our Company on behalf of
our board of directors in which such individual is named as nominee for director.

 

Limited Voting
Rights.  Holders of shares of the Series C Preferred Stock will generally have no voting rights. However, if dividends
on the Series C Preferred Stock are in arrears for each of six or more consecutive quarterly periods, the number of directors on
our board of directors will automatically be increased by two, and holders of shares of the Series C Preferred Stock and the holders
of all other classes or series of Voting Preferred Stock, including our Series A Preferred Stock and Series D Preferred Stock (voting
together as a single class) will be entitled to vote, at a special meeting called upon the written request of the holders of at
least 20% of such stock or at our next annual meeting and at each subsequent annual meeting of stockholders, for the election of
two additional directors to serve on our board of directors (the “Preferred Directors”), until all accrued and unpaid
dividends with respect to the Series C Preferred Stock and the other Parity Preferred Stock (including our Series A Preferred Stock,
our Series B Preferred Stock, and our Series D Preferred Stock) have been paid in full or declared and a sum sufficient for the
payment thereof in full set apart for payment. The Preferred Directors will be elected by a plurality of the votes cast in the
election. For the avoidance of doubt, the board of directors shall not be permitted to fill the vacancies on the board of directors
as a result of the failure of 20% of the holders of Voting Preferred Stock to deliver such written request for the election of
the Preferred Directors.

 

So long as any shares
of Series C Preferred Stock remain outstanding, in addition to any other vote or consent of stockholders required by our charter,
we will not, without the affirmative vote or consent of the holders of at least two-thirds of the outstanding shares of Series
C Preferred Stock voting together as a single class with the other Parity Preferred Stock, authorize, create or issue, or increase
the number of authorized or issued shares of, any class or series of capital stock ranking senior to the Series C Preferred Stock
with respect to payment of dividends or the distribution of assets upon our liquidation, dissolution or winding up, or reclassify
any of our authorized capital stock into such capital stock, or create, authorize or issue any obligation or security convertible
into or evidencing the right to purchase such capital stock.

 

    	 	19	 

     

    

 

In addition, so long
as any shares of Series C Preferred Stock remain outstanding, we will not, without the affirmative vote or consent of the holders
of at least two-thirds of the outstanding shares of Series C Preferred Stock, amend, alter or repeal our charter, including the
terms of the Series C Preferred Stock, whether by merger, consolidation, transfer or conveyance of substantially all of our assets
or otherwise, so as to materially and adversely affect any right, preference, privilege or voting power of the Series C Preferred
Stock, except that with respect to the occurrence of any of the events set forth above, so long as the Series C Preferred Stock
remains outstanding with the terms of the Series C Preferred Stock materially unchanged, taking into account that, upon the occurrence
of an event set forth above, we may not be the surviving entity, the occurrence of such event will not be deemed to materially
and adversely affect the rights, preferences, privileges or voting power of the Series C Preferred Stock, and in such case such
holders shall not have any voting rights with respect to the events set forth above; provided, further, that with respect to any
such amendment, alteration or repeal that equally affects the terms of the Series C Preferred Stock and the other Voting Preferred
Stock, the affirmative vote or consent of the holders of two-thirds of the shares of Series C Preferred Stock and the other Voting
Preferred Stock (voting together as a single class) shall be required. Furthermore, if holders of shares of the Series C Preferred
Stock will receive the greater of the full trading price of the Series C Preferred Stock on the date of an event set forth above
or the $25.00 per share liquidation preference pursuant to the occurrence of any of the events set forth above or pursuant to a
special optional redemption by us or a redemption at the option of the holder upon a Change of Control/Delisting, then such holders
shall not have any voting rights with respect to the events set forth above.

 

In addition, and in
circumstances other than the voting issues addressed in the paragraph above, so long as any shares of Series C Preferred Stock
remain outstanding, the holders of shares of Series C Preferred Stock also will have the exclusive right to vote on any amendment,
alteration or repeal of our charter, including the terms of the Series C Preferred Stock, that would alter only the contract rights,
as expressly set forth in our charter, of the Series C Preferred Stock, and the holders of any other classes or series of our capital
stock will not be entitled to vote on such an amendment, alteration or repeal, with any such amendment requiring the affirmative
vote or consent of holders of two-thirds of the Series C Preferred Stock issued and outstanding at the time. With respect to any
amendment, alteration or repeal of our charter, including the terms of the Series C Preferred Stock, that equally affects the terms
of the Series C Preferred Stock and the other Voting Preferred Stock, so long as any shares of Series C Preferred Stock remain
outstanding, the holders of shares of Series C Preferred Stock and the other Voting Preferred Stock (voting together as a single
class), also will have the exclusive right to vote on any such amendment, alteration or repeal of our charter, including the terms
of the Series C Preferred Stock, that would alter only the contract rights, as expressly set forth in our charter, of the Series
C Preferred Stock and such other classes or series of preferred stock, and the holders of any other classes or series of our capital
stock will not be entitled to vote on such an amendment, alteration or repeal.

 

Holders of shares
of Series C Preferred Stock will not be entitled to vote with respect to any increase in the total number of authorized shares
of our common stock or preferred stock, any issuance or increase in the number of authorized shares of Series C Preferred Stock
or the creation or issuance of any other class or series of capital stock, or any issuance or increase in the number of authorized
shares of any class or series of capital stock, in each case ranking on parity with or junior to the Series C Preferred Stock with
respect to the payment of dividends and the distribution of assets upon liquidation, dissolution or winding up.

 

Series D Cumulative Preferred Stock

 

Our board of directors
has created out of the authorized and unissued shares of our preferred stock, a series of redeemable preferred stock, classified
as the 7.125% Series D Cumulative Preferred Stock (the “Series D Preferred Stock”).

 

The following is a
brief description of the terms of our Series D Preferred Stock. The description of our Series D Preferred Stock contained herein
does not purport to be complete and is qualified in its entirety by reference to the Articles Supplementary classifying shares
of our preferred stock as shares of Series D Preferred Stock (the “Series D Articles Supplementary”), which have been
filed with the SEC and are incorporated by reference as exhibits to the Annual Report on Form 10-K of which this Exhibit 4(vi)
is a part.

 

Rank.  The
Series D Preferred Stock ranks, with respect to priority of dividend payments and rights upon voluntary or involuntary liquidation,
dissolution or winding up of our affairs:

 

		•	senior to all classes
or series of our common stock, and to any other class or series of our capital stock issued in the future, unless the terms of
that capital stock expressly provide that it ranks senior to, or on parity with, the Series D Preferred Stock;

 

		•	on parity with any class
or series of our capital stock, the terms of which expressly provide that it will rank on parity with the Series D Preferred Stock,
including the Series A Preferred Stock, Series B Preferred Stock and Series C Preferred Stock; and

 

		•	junior to any other
class or series of our capital stock, the terms of which expressly provide that it will rank senior to the Series D Preferred
Stock, none of which exists on the date hereof.

 

    	 	20	 

     

    

 

Dividends.  Subject
to the preferential rights of the holders of any class or series of our capital stock ranking senior to the Series D Preferred
Stock with respect to priority of dividend payments, holders of shares of the Series D Preferred Stock are entitled to receive
cumulative cash dividends on the Series D Preferred Stock when, as and if authorized by our board of directors and declared by
us from and including the date of original issue or the first day following the end of the most recent dividend period for which
dividends on the Series D Preferred Stock have been paid, payable quarterly in arrears on each January 5th, April 5th,
July 5th and October 5th of each year. Holders of shares of Series D Preferred Stock will not be
entitled to receive dividends paid on any dividend payment date if such shares were not issued and outstanding on the record date
for such dividend. From the date of original issue, we will pay cumulative cash dividends at the rate of 7.125% per annum of the
$25.00 liquidation preference per share of the Series D Preferred Stock (equivalent to the fixed annual amount of $1.78125 per
share of the Series D Preferred Stock). The first dividend payable on the Series D Preferred Stock, paid on January 5, 2017, was
a pro rata dividend from and including the original issue date to and including December 31, 2016, in the amount of $0.3859 per
share.

 

Dividends will accrue
and be paid on the basis of a 360-day year consisting of twelve 30-day months. Dividends on the Series D Preferred Stock will accrue
and be cumulative from the end of the most recent dividend period for which dividends have been paid, or if no dividends have been
paid, from the date of original issue. Dividends on the Series D Preferred Stock will accrue whether or not (i) we have earnings,
(ii) there are funds legally available for the payment of such dividends and (iii) such dividends are authorized by our board of
directors or declared by us. Accrued dividends on the Series D Preferred Stock will not bear interest.

 

Liquidation Preference.  If
we liquidate, dissolve or wind up, holders of shares of the Series D Preferred Stock will have the right to receive $25.00 per
share of the Series D Preferred Stock, plus an amount equal to all accrued but unpaid dividends (whether or not authorized or declared)
to and including the date of payment, but without interest, before any distribution or payment is made to holders of our common
stock and any other class or series of capital stock ranking junior to the Series D Preferred Stock as to rights upon our liquidation,
dissolution or winding up.

 

The rights of holders
of shares of the Series D Preferred Stock to receive their liquidation preference will be subject to the proportionate rights of
shares of any other class or series of our capital stock ranking on parity with the Series D Preferred Stock, including our Series
A Preferred Stock, Series B Preferred Stock, and Series C Preferred Stock, as to rights upon our liquidation, dissolution or winding
up, junior to the rights of any class or series of our capital stock expressly designated as having liquidation preferences ranking
senior to the Series D Preferred Stock, and subject to payment of or provision for our debts and other liabilities.

 

After payment of the
full amount of the liquidating distributions to which they are entitled, the holders of our shares of Series D Preferred Stock
will have no right or claim to any of our remaining assets. Our consolidation or merger with or into any other corporation, trust
or other entity, the consolidation or merger of any other corporation, trust or entity with or into us, the sale or transfer of
any or all our assets or business, or a statutory share exchange will not be deemed to constitute a liquidation, dissolution or
winding-up of our affairs.

 

In determining whether
a distribution (other than upon voluntary or involuntary liquidation), by dividend, redemption or other acquisition of shares of
our stock or otherwise, is permitted under the MGCL, amounts that would be needed, if we were to be dissolved at the time of distribution,
to satisfy the preferential rights upon dissolution of holders of the Series D Preferred Stock will not be added to our total liabilities.

 

Series D Preferred
Stock Optional Redemption by the Company.  Generally, we may not redeem the Series D Preferred Stock prior to October
13, 2021, except in limited circumstances relating to maintaining our qualification as a REIT and the Series D Preferred Stock
Special Optional Redemption provision described below. On and after October 13, 2021, we may, at our option, redeem the Series
D Preferred Stock in whole or in part, at any time or from time to time, solely for cash at a redemption price of $25.00 per share,
plus an amount equal to all accrued but unpaid dividends (whether or not authorized or declared), if any, to and including the
redemption date. Any partial redemption will be on a pro rata basis (as nearly as practicable without creating fractional shares),
by lot or by any other equitable method, subject in all cases to our ownership and transfer restrictions.

 

Series D Preferred
Stock Special Optional Redemption.  Upon the occurrence of a Change of Control/Delisting (as defined below), we may,
at our option, redeem the Series D Preferred Stock, in whole or in part within 120 days after the first date on which such Change
of Control/Delisting occurred, solely in cash at a redemption price of $25.00 per share, plus an amount equal to any accrued but
unpaid dividends to, and including, the redemption date. For purposes of the Series D Preferred Stock, the terms “Change
of Control/Delisting” and “Continuing Director” are defined as set forth above under “Series A Cumulative
Redeemable Preferred Stock”; provided, that a Change of Control/Delisting will be deemed to have occurred with respect to
the Series D Preferred Stock only where the triggering event has occurred and is continuing after the original issuance of the
Series D Preferred Stock.

 

    	 	21	 

     

    

 

For purposes of the
Series D Preferred Stock, a “Change of Control/Delisting” is when, after the original issuance of the Series D Preferred
Stock, any of the following has occurred and is continuing:

 

		•	a “person”
or “group” within the meaning of Section 13(d) of the Exchange Act other than our Company, its subsidiaries, and its
and their employee benefit plans, has become the direct or indirect “beneficial owner,” as defined in Rule 13d-3 under
the Exchange Act, of our common equity representing more than 50% of the total voting power of all outstanding shares of our common
equity that are entitled to vote generally in the election of directors (“Voting Stock”); provided, that notwithstanding
the foregoing, such a transaction will not be deemed to involve a Change of Control/Delisting if (i) we become a direct or indirect
wholly-owned subsidiary of a holding company and (ii) the direct or indirect holders of the Voting Stock of such holding company
immediately following that transaction are substantially the same as the holders of our Voting Stock immediately prior to that
transaction;

 

		•	consummation of any
share exchange, consolidation or merger of the Company or any other transaction or series of transactions pursuant to which the
common stock will be converted into cash, securities or other property, other than any such transaction where the common stock
outstanding immediately prior to such transaction constitutes, or is converted into or exchanged for, a majority of the common
stock of the surviving person or any direct or indirect parent company of the surviving person immediately after giving effect
to such transaction;

 

		•	any sale, lease or other
transfer in one transaction or a series of transactions of all or substantially all of the consolidated assets of the Company
and its subsidiaries, taken as a whole, to any person other than one of the Company’s subsidiaries;

 

		•	the Company’s
stockholders approve any plan or proposal for the liquidation or dissolution of the Company;

 

		•	our Class A common stock
ceases to be listed or quoted on a national securities exchange in the United States; or

 

		•	Series D Continuing
Directors cease to constitute at least a majority of our board of directors.

 

For purposes of the
Series D Preferred Stock, “Series D Continuing Director” means a director who either was a member of our board of directors
on October 21, 2015 or who becomes a member of our board of directors subsequent to that date and whose appointment, election or
nomination for election by our stockholders was duly approved by a majority of the continuing directors on our board of directors
at the time of such approval, either by a specific vote or by approval of the proxy statement issued by our Company on behalf of
our board of directors in which such individual is named as nominee for director.

 

If, prior to the Change
of Control/Delisting Conversion Date (as hereinafter defined), we have provided or provide notice of our election to redeem the
Series D Preferred Stock (whether pursuant to our Series D Preferred Stock Optional Redemption by the Company or our Series D Preferred
Stock Special Optional Redemption), the holders of Series D Preferred Stock will not be permitted to exercise the Change of Control/Delisting
Conversion Right described below with respect to the shares of Series D Preferred Stock subject to such notice.

 

Conversion Right
Upon a Change of Control/Delisting.  If a Change of Control/Delisting occurs at any time the Series D Preferred Stock
is outstanding (unless, prior to the Change of Control/Delisting Conversion Date, we have provided or provide notice of our election
to redeem the Series D Preferred Stock in whole or in part, whether pursuant to our Series D Preferred Stock Optional Redemption
by the Company or our Series D Preferred Stock Special Optional Redemption), then each holder of shares of Series D Preferred Stock
shall have the right, at such holder’s option, to convert any or all of such holder’s shares of Series D Preferred
Stock (the “Change of Control/Delisting Conversion Right”), on a date specified by us that can be no earlier than 30
days and no later than 60 days following the date of delivery of the Change of Control/Delisting Company Notice (as defined below)
(the “Change of Control/Delisting Conversion Date”), into a number of shares of Class A common stock per share of Series
D Preferred Stock to be converted (the “Class A Common Stock Conversion Consideration”), equal to the lesser of:

 

		•	the quotient obtained
by dividing (i) the sum of (x) the liquidation preference amount of $25.00 per share of Series D Preferred Stock, plus (y) any
accrued but unpaid dividends (whether or not declared) to and including the Change of Control/Delisting Conversion Date (unless
the Change of Control/Delisting Conversion Date is after a record date for the payment of a Series D Preferred Stock dividend
for which dividends have been declared and prior to the corresponding Series D Preferred Stock dividend payment date, in which
case no additional amount for such accrued but unpaid dividend will be included in this sum and such declared dividend will instead
be paid, on such dividend payment date, to the holder of record of the Series D Preferred Stock to be converted as of 5:00 p.m.
New York City time, on such record date) by (ii) the Class A Common Share Price (as defined below); and

 

    	 	22	 

     

    

 

		•	4.15973 (the “Share
Cap”), subject to certain adjustments;

 

subject, in each case, to provisions for
the receipt of Alternative Form Consideration (as defined below).

 

The Share Cap is subject
to pro rata adjustments for any share splits (including those effected pursuant to a distribution of our Class A common stock),
subdivisions or combinations (in each case, a Share Split) with respect to our Class A common stock as follows: the adjusted Share
Cap as the result of a Share Split will be the number of Class A common stock that is equivalent to the product obtained by multiplying
(i) the Share Cap in effect immediately prior to such Share Split by (ii) a fraction, the numerator of which is the number of shares
of our Class A common stock outstanding after giving effect to such Share Split and the denominator of which is the number of shares
of our Class A common stock outstanding immediately prior to such Share Split.

 

In the case of a Change of Control/Delisting
pursuant to which our Class A common stock will be converted into any combination of cash, securities or other property or assets
(the “Alternative Form Consideration”), a holder of Series D Preferred Stock will receive upon conversion of such Series
D Preferred Stock the kind and amount of Alternative Form Consideration that such holder would have owned or to which that holder
would have been entitled to receive upon the Change of Control/Delisting had such holder held a number of shares of Class A common
stock equal to the Class A Common Stock Conversion Consideration immediately prior to the effective time of the Change of Control/Delisting
(the “Alternative Conversion Consideration”), and the Class A Common Stock Conversion Consideration or the Alternative
Conversion Consideration, as may be applicable to a Change of Control/Delisting, is referred to as the “Conversion Consideration.”

 

If the holders of our Class A common stock
have the opportunity to elect the form of consideration to be received in the Change of Control/Delisting, the Conversion Consideration
will be deemed to be the kind and amount of consideration actually received by holders of a majority of our Class A common stock
that voted for such an election (if electing between two types of consideration) or holders of a plurality of our Class A common
stock that voted for such an election (if electing between more than two types of consideration), as the case may be, and will
be subject to any limitations to which all holders of our Class A common stock are subject, including, without limitation, pro
rata reductions applicable to any portion of the consideration payable in the Change of Control/Delisting.

 

Within 15 days following the occurrence
of a Change of Control/Delisting, we will provide to holders of Series D Preferred Stock a notice of occurrence of the Change of
Control/Delisting that describes the resulting Change of Control/Delisting Conversion Right (the “Change of Control/Delisting
Company Notice”), which will state the following:

 

		•	the events constituting
Change of Control/Delisting;

 

		•	the date of the Change
of Control/Delisting;

 

		•	the last date and time
by which the holders of Series D Preferred Stock may exercise their Change of Control/Delisting Conversion Right;

 

		•	the method and period
for calculating the Class A Common Share Price;

 

		•	the Change of Control/Delisting
Conversion Date;

 

		•	that if, prior to the
Change of Control/Delisting Conversion Date, we have provided or provide notice of our election to redeem all or any portion of
the Series D Preferred Stock, holders will not be able to convert the shares of Series D Preferred Stock designated for redemption
and such shares will be redeemed on the related redemption date, even if such shares have already been tendered for conversion
pursuant to the Change of Control/Delisting Conversion Right;

 

		•	if applicable, the type
and amount of Alternative Conversion Consideration entitled to be received per share of Series D Preferred Stock;

 

    	 	23	 

     

    

 

		•	the name and address
of the paying agent and the conversion agent; and

 

		•	the procedures that
the holders of Series D Preferred Stock must follow to exercise the Change of Control/Delisting Conversion Right.

 

We will issue a press release for publication
on Dow Jones & Company, Inc., Business Wire, PR Newswire or Bloomberg Business News (or, if these organizations are not in
existence at the time of issuance of the press release, such other news or press organization as is reasonably calculated to broadly
disseminate the relevant information to the public), or post a notice on our website, in any event prior to the opening of business
on the first business day following any date on which we provide the notice described above to the holders of Series D Preferred
Stock.

 

To exercise the Change of Control/Delisting
Conversion Right, the holders of Series D Preferred Stock will be required to deliver, on or before the close of business on the
Change of Control/Delisting Conversion Date, the certificates (if any) or book entries representing Series D Preferred Stock to
be converted, duly endorsed for transfer (if certificates are delivered), together with a completed written conversion notice to
our transfer agent. The conversion notice must state:

 

		•	the relevant Change
of Control/Delisting Conversion Date;

 

		•	the number of shares
of Series D Preferred Stock to be converted; and

 

		•	that the Series D Preferred
Stock is to be converted pursuant to the Change of Control/Delisting Conversion Right held by holders of Series D Preferred Stock.

 

Holders of shares of Series D Preferred
Stock may withdraw any notice of exercise of a Change of Control/Delisting Conversion Right (in whole or in part) by a written
notice of withdrawal delivered to the transfer agent prior to 5:00 p.m., New York City time, on the business day prior to the Change
of Control/Delisting Conversion Date. The notice of withdrawal must state:

 

		•	the number of withdrawn
shares of Series D Preferred Stock;

 

		•	if certificated shares
of Series D Preferred Stock have been issued, the certificate numbers of the withdrawn shares of Series D Preferred Stock; and

 

		•	the number of shares
of Series D Preferred Stock, if any, which remain subject to the conversion notice.

 

Notwithstanding the
foregoing, if the shares of Series D Preferred Stock are held in global form, the notice of withdrawal must comply with applicable
DTC procedures.

 

We will not issue
fractional shares of Class A common stock upon the conversion of the Series D Preferred Stock. Instead, we will pay the cash value
of any fractional share otherwise due, computed on the basis of the applicable Class A Common Share Price.

 

The “Class A
Common Share Price” will be (i) if the consideration to be received in the Change of Control/Delisting by the holders of
our Class A common stock is solely cash, the amount of cash consideration per share of Class A common stock, or (ii) if the consideration
to be received in the Change of Control/Delisting by holders of our Class A common stock is other than solely cash, (x) the average
of the closing sale prices per share of our Class A common stock (or, if no closing sale price is reported, the average of the
closing bid and ask prices or, if more than one in either case, the average of the average closing bid and the average closing
ask prices) for the 10 consecutive trading days immediately preceding, but not including, the effective date of the Change of Control/Delisting
as reported on the principal U.S. securities exchange on which our Class A common stock is then traded, or (y) if our Class A common
stock is not then listed for trading on a U.S. securities exchange, the average of the last quoted bid prices for our Class A common
stock in the over-the-counter market as reported by OTC Markets Group, Inc. or similar organization for the 10 consecutive trading
days immediately preceding, but not including, the effective date of the Change of Control/Delisting.

 

    	 	24	 

     

    

 

Limited Voting
Rights.  Holders of shares of the Series D Preferred Stock will generally have no voting rights. However, if dividends
on the Series D Preferred Stock are in arrears for each of six or more consecutive quarterly periods, the number of directors on
our board of directors will automatically be increased by two, and holders of shares of the Series D Preferred Stock and the holders
of all other classes or series of Voting Preferred Stock, including our Series A Preferred Stock and Series C Preferred Stock (voting
together as a single class) will be entitled to vote, at a special meeting called upon the written request of the holders of at
least 20% of such stock or at our next annual meeting and at each subsequent annual meeting of stockholders, for the election of
two additional directors to serve on our board of directors (the “Preferred Directors”), until all accrued and unpaid
dividends with respect to the Series D Preferred Stock and the other Parity Preferred Stock (including our Series A Preferred Stock,
our Series B Preferred Stock, and our Series C Preferred Stock) have been paid in full or declared and a sum sufficient for the
payment thereof in full set apart for payment. The Preferred Directors will be elected by a plurality of the votes cast in the
election. For the avoidance of doubt, the board of directors shall not be permitted to fill the vacancies on the board of directors
as a result of the failure of the holders of 20% of Voting Preferred Stock to deliver such written request for the election of
the Preferred Directors.

 

So long as any shares
of Series D Preferred Stock remain outstanding, in addition to any other vote or consent of stockholders required by our charter,
we will not, without the affirmative vote or consent of the holders of at least two-thirds of the outstanding shares of Series
D Preferred Stock voting together as a single class with the other Parity Preferred Stock, authorize, create or issue, or increase
the number of authorized or issued shares of, any class or series of capital stock ranking senior to the Series D Preferred Stock
with respect to payment of dividends or the distribution of assets upon our liquidation, dissolution or winding up, or reclassify
any of our authorized capital stock into such capital stock, or create, authorize or issue any obligation or security convertible
into or evidencing the right to purchase such capital stock.

 

In addition, so long
as any shares of Series D Preferred Stock remain outstanding, we will not, without the affirmative vote or consent of the holders
of at least two-thirds of the outstanding shares of Series D Preferred Stock, amend, alter or repeal our charter, including the
terms of the Series D Preferred Stock, whether by merger, consolidation, transfer or conveyance of substantially all of our assets
or otherwise, so as to materially and adversely affect any right, preference, privilege or voting power of the Series D Preferred
Stock, except that with respect to the occurrence of any of the events set forth above, so long as the Series D Preferred Stock
remains outstanding with the terms of the Series D Preferred Stock materially unchanged, taking into account that, upon the occurrence
of an event set forth above, we may not be the surviving entity, the occurrence of such event will not be deemed to materially
and adversely affect the rights, preferences, privileges or voting power of the Series D Preferred Stock, and in such case such
holders shall not have any voting rights with respect to the events set forth above; provided, further, that with respect to any
such amendment, alteration or repeal that equally affects the terms of the Series D Preferred Stock and the other Voting Preferred
Stock, the affirmative vote or consent of the holders of two-thirds of the shares of Series D Preferred Stock and the other Voting
Preferred Stock (voting together as a single class) shall be required. Furthermore, if holders of shares of the Series D Preferred
Stock will receive the greater of the full trading price of the Series D Preferred Stock on the date of an event set forth above
or the $25.00 per share liquidation preference pursuant to the occurrence of any of the events set forth above or pursuant to a
special optional redemption by us or a redemption at the option of the holder upon a Change of Control/Delisting, then such holders
shall not have any voting rights with respect to the events set forth above.

 

In addition, and in
circumstances other than the voting issues addressed in the paragraph above, so long as any shares of Series D Preferred Stock
remain outstanding, the holders of shares of Series D Preferred Stock also will have the exclusive right to vote on any amendment,
alteration or repeal of our charter, including the terms of the Series D Preferred Stock, that would alter only the contract rights,
as expressly set forth in our charter, of the Series D Preferred Stock, and the holders of any other classes or series of our capital
stock will not be entitled to vote on such an amendment, alteration or repeal, with any such amendment requiring the affirmative
vote or consent of holders of two-thirds of the Series D Preferred Stock issued and outstanding at the time. With respect to any
amendment, alteration or repeal of our charter, including the terms of the Series D Preferred Stock, that equally affects the terms
of the Series D Preferred Stock and the other Voting Preferred Stock, so long as any shares of Series D Preferred Stock remain
outstanding, the holders of shares of Series D Preferred Stock and the other Voting Preferred Stock (voting together as a single
class), also will have the exclusive right to vote on any such amendment, alteration or repeal of our charter, including the terms
of the Series D Preferred Stock, that would alter only the contract rights, as expressly set forth in our charter, of the Series
D Preferred Stock and such other classes or series of preferred stock, and the holders of any other classes or series of our capital
stock will not be entitled to vote on such an amendment, alteration or repeal.

 

Holders of shares
of Series D Preferred Stock will not be entitled to vote with respect to any increase in the total number of authorized shares
of our common stock or preferred stock, any issuance or increase in the number of authorized shares of Series D Preferred Stock
or the creation or issuance of any other class or series of capital stock, or any issuance or increase in the number of authorized
shares of any class or series of capital stock, in each case ranking on parity with or junior to the Series D Preferred Stock with
respect to the payment of dividends and the distribution of assets upon liquidation, dissolution or winding up.

 

    	 	25	 

     

    

 

Series T Redeemable Preferred Stock 

 

Our board of directors
has created out of the authorized and unissued shares of our preferred stock a series of redeemable preferred stock, classified
as the Series T Redeemable Preferred Stock, $0.01 par value per share (the “Series T Preferred Stock”). We are currently
authorized to issue up to 32,000,000 shares of our Series T Preferred Stock, with a maximum of 20,000,000 shares of Series T Preferred
Stock offered in the primary offering and an additional 12,000,000 shares of Series T Preferred Stock offered pursuant to a dividend
reinvestment plan (collectively, the “Series T Preferred Offering”).

 

The following is a
brief description of the terms of our Series T Preferred Stock. The description of our Series T Preferred Stock contained herein
does not purport to be complete and is qualified in its entirety by reference to the Articles Supplementary classifying shares
of our preferred stock as shares of Series T Preferred Stock (the “Series T Articles Supplementary”), which have been
filed with the SEC and are incorporated by reference as exhibits to the Annual Report on Form 10-K of which this Exhibit 4(vi)
is a part.

 

Rank.  Our
Series T Preferred Stock ranks, with respect to dividend rights and rights upon our liquidation, winding-up or dissolution:

 

		•	senior to all classes
or series of our common stock, and to any other class or series of our capital stock issued in the future unless the terms of
that capital stock expressly provide that it ranks senior to, or on parity with, the Series T Preferred Stock;

 

		•	on parity with any class
or series of our capital stock, the terms of which expressly provide that it will rank on parity with the Series T Preferred
Stock, including the Series A Preferred Stock, Series B Preferred Stock, Series C Preferred Stock, and Series D
Preferred Stock; and

 

		•	junior to any other
class or series of our capital stock, the terms of which expressly provide that it will rank senior to the Series T Preferred
Stock, none of which exists on the date hereof, and subject to payment of or provision for our debts and other liabilities.

 

Investors in the Series
T Preferred Stock should note that holders of our Series T Preferred Stock do not have a right to receive a return of capital prior
to holders of our common stock upon the individual sale of a property. To provide protection to the holders of the Series T Preferred
Stock, our charter restricts us from selling an asset if the sale would cause us to fail to meet a dividend coverage ratio of no
less than 1.1:1 based on the ratio of our core funds from operations to dividends required to be paid to holders of our Series
A, Series B, Series C, Series D, and Series T Preferred Stock for the two most recent quarters, subject to our ability to maintain
status as a REIT for federal income tax purposes in our charter. Subject to the provisions of our charter and depending on the
price at which such property is sold, it is possible that holders of our common stock will receive a return of capital prior to
the holders of our Series T Preferred Stock being redeemed, provided that any accrued but unpaid cash dividends have been
paid in full to holders of Series T Preferred Stock. Holders of common stock will also receive additional distributions from the
sale of a property (in excess of their capital attributable to the asset sold) before the holders of Series T Preferred Stock receive
a return of their capital.

 

Stated Value.  Each
share of Series T Preferred Stock has an initial “Stated Value” of $25.00, subject to appropriate adjustment in
relation to certain events as set forth in the Series T Articles Supplementary.

 

Dividends.  Subject
to the preferential rights of the holders of any class or series of our capital stock ranking senior to our Series T Preferred
Stock, if any such class or series is authorized in the future, the holders of Series T Preferred Stock are entitled to receive,
when and as authorized by our board of directors and declared by us out of legally available funds, the following.

 

		1.	Series T Cash Dividends.   Cumulative cash dividends on each share of
Series T Preferred Stock at an annual rate of 6.15% of the Stated Value (each, a “Series T Cash Dividend”). We
expect Series T Cash Dividends will be authorized and declared on a quarterly basis, payable monthly on the 5th day of the
month to holders of record on the 25th day of the prior month (or if such payment date or record date is not a business day, on
the immediately preceding business day, with the same force and effect as if made on such date), unless our results of operations,
our general financing conditions, general economic conditions, applicable provisions of Maryland law or other factors make it imprudent
to do so.

 

The initial
Series T Cash Dividend payable on each share of Series T Preferred Stock will begin accruing on, and will be cumulative
from, the date of original issuance of such share of Series T Preferred Stock. Each subsequent Series T Cash Dividend will
begin accruing on, and will be cumulative from, the end of the most recent Series T Cash Dividend period for which a Series T Cash
Dividend has been paid on each such share of Series T Preferred Stock. For the avoidance of doubt, any such Series T Cash Dividend
may vary among holders of Series T Preferred Stock and may be prorated with respect to any shares of Series T Preferred Stock that
were outstanding less than the total number of days in the Series T Cash Dividend period immediately preceding the applicable dividend
payment date, with the amount of any such prorated dividend being computed on the basis of the actual number of days in such dividend
period during which such shares of Series T Preferred Stock were outstanding

 

    	 	26	 

     

    

 

		2.	Annual Series T Stock Dividends.   Annual stock dividends, each at an
annual rate of 0.2% of the Stated Value, for each of the first five (5) years from and including the later of  (i) the
year 2020 or (ii) the year of original issuance of each such share of Series T Preferred Stock, payable in shares of Series T Preferred
Stock (each, an “Annual Series T Stock Dividend”).

 

We expect Annual Series T Stock
Dividends will be authorized and declared on an annual basis, payable annually on the 29th day of December to eligible holders
of record on the 24th day of December of each such year (or if such payment date or record date is not a business day, on
the immediately preceding business day, with the same force and effect as if made on such date), unless our results of operations,
our general financing conditions, general economic conditions, applicable provisions of Maryland law or other factors make it imprudent
to do so.

 

The initial Annual Series T
Stock Dividend payable on each share of Series T Preferred Stock will accrue and be cumulative on a monthly basis, from and
including the later of (i) January 2020 or (ii) the month of original issuance of such share of Series T Preferred
Stock. Each subsequent Annual Series T Stock Dividend will accrue and be cumulative on a monthly basis, from the end of the most
recent Annual Series T Stock Dividend period for which an Annual Series T Stock Dividend has been paid on each such share of Series
T Preferred Stock. For the avoidance of doubt, any such Annual Series T Stock Dividend may vary among holders of Series T Preferred
Stock and may be prorated with respect to any shares of Series T Preferred Stock that were outstanding less than the total number
of months in the Annual Series T Stock Dividend period to which the applicable dividend payment date relates, with the amount of
any such prorated dividend being computed on the basis of the actual number of months during such dividend period in which such
shares of Series T Preferred Stock were at any time outstanding.

 

The timing and amount
of dividends on the Series T Preferred Stock will be determined by our board of directors, in its sole discretion, and may vary
from time to time. All such dividends will accrue and be paid on the basis of a 360-day year consisting of twelve 30-day months.
Dividends on the Series T Preferred Stock will accrue whether or not (i) we have earnings, (ii) there are funds legally available
for the payment of such dividends and (iii) such dividends are authorized by our board of directors or declared by us. Accrued
dividends on the Series T Preferred Stock will not bear interest.

 

Holders of our shares
of Series T Preferred Stock are not entitled to any dividend in excess of full cumulative dividends on our shares of Series T Preferred
Stock. Unless full cumulative dividends on our shares of Series T Preferred Stock, Series A Preferred Stock, Series B Preferred
Stock, Series C Preferred Stock and Series D Preferred Stock for all past dividend periods have been or contemporaneously are declared
and paid or declared and a sum sufficient for the payment thereof in full is set apart for payment, we will not:

 

		•	declare and pay or declare
and set apart for payment dividends or declare and make any other distribution of cash or other property (other than dividends
or distributions paid in shares of stock ranking junior to the Series T Preferred Stock as to the dividend rights or rights
on our liquidation, winding-up or dissolution, and options, warrants or rights to purchase such shares), directly or indirectly,
on or with respect to any shares of our common stock or any class or series of our stock ranking junior to or on parity with the
Series T Preferred Stock as to dividend rights or rights on our liquidation, winding-up or dissolution for any period; or

 

		•	except by conversion
into or exchange for shares of stock ranking junior to the Series T Preferred Stock as to dividend rights or rights on our
liquidation, winding-up or dissolution, or options, warrants or rights to purchase such shares, redeem, purchase or otherwise
acquire (other than a redemption, purchase or other acquisition of common stock made for purposes of an employee incentive or
benefit plan) for any consideration, or pay or make available any monies for a sinking fund for the redemption of, any common
stock or any class or series of our stock ranking junior to or on parity with the Series T Preferred Stock as to dividend
rights or rights on our liquidation, winding-up or dissolution.

 

To the extent necessary
to preserve our status as a REIT, the foregoing sentence, however, will not prohibit declaring or paying or setting apart for payment
any dividend or other distribution on our common stock or any class or series of our stock ranking junior to or on parity with
the Series T Preferred Stock as to dividend rights or rights on our liquidation, winding-up or dissolution for any period.

 

Holders of shares
of our Series T Preferred Stock are not eligible to participate in the company’s dividend reinvestment plan for its
Class A common stock. However, holders of shares of our Series T Preferred Stock may participate in the company’s Series
T Preferred Stock Dividend Reinvestment Plan, through which they may reinvest all, but not less than all, of their Series T
Cash Dividends in additional shares of our Series T Preferred Stock.

 

    	 	27	 

     

    

 

Redemption at Option
of Holders.    Holders will have the right to require the company to redeem shares of Series T Preferred
Stock at a redemption price equal to the Stated Value, initially $25.00 per share, less a redemption fee, plus an amount equal
to any accrued but unpaid cash dividends; provided, that shares of Series T Preferred Stock acquired by the holder pursuant to
the Series T DRIP (as hereinafter defined) shall not be subject to a redemption fee.

 

The redemption fee shall be equal to:

 

		•	Beginning on the date of original issuance of the shares to be redeemed: 12%

 

		•	Beginning one year from the date of original issuance of the shares to be redeemed: 9%

 

		•	Beginning two years from the date of original issuance of the shares to be redeemed: 6%

 

		•	Beginning three years from the date of original issuance of the shares to be redeemed: 3%

 

		•	Beginning four years from the date of original issuance of the shares to be redeemed: 0%.

 

For purposes of this
 “Redemption at Option of Holders” provision, where the shares of Series T Preferred Stock to be redeemed were
acquired by the holder pursuant to an Annual Series T Stock Dividend (such shares, “ASTSD Shares”), the “date
of original issuance” of such ASTSD Shares shall be deemed to be the same as the date of original issuance of the underlying
shares of Series T Preferred Stock pursuant to which such ASTSD Shares are directly or indirectly attributable (such shares,
 “ASTSD Underlying Series T Shares”), and such ASTSD Shares shall be subject to the same redemption fee to which
such ASTSD Underlying Series T Shares would be subject if submitted for simultaneous redemption hereunder.

 

If a holder of shares
of Series T Preferred Stock causes the company to redeem such shares of Series T Preferred Stock, we have the right,
in our sole discretion, to pay the redemption price in cash or in equal value of shares of our Class A common stock, based
on the closing price per share of our Class A common stock for the single trading day prior to the date of redemption.

 

Our ability to redeem
shares of Series T Preferred Stock in cash may be limited to the extent that we do not have sufficient funds available to fund
such cash redemption. Further, our obligation to redeem any of the shares of Series T Preferred Stock submitted for redemption
in cash may be restricted by Maryland law. No redemptions of shares of Series T Preferred Stock will be made in cash at such time
as the terms and provisions of any agreement to which we are a party prohibits such redemption or provides that such redemption
would constitute a breach thereof or a default thereunder.

 

Optional Redemption
Following Death of a Holder.   Subject to restrictions, beginning on the date of original issuance and ending
five years thereafter, we will redeem shares of Series T Preferred Stock held by a natural person upon his or her death,
including shares held through a revocable grantor trust, or an IRA or other retirement or profit-sharing plan, at the written request
of the holder’s estate, the recipient of such shares through bequest or inheritance, or, in the case of a revocable grantor
trust, the trustee of such trust, who shall have the sole ability to request redemption on behalf of the trust. If spouses are
joint registered holders of shares of Series T Preferred Stock, the written request to redeem such shares may be made upon the
death of either spouse. We must receive such written request within one (1) year after the death of the holder. If the holder
is not a natural person, such as a trust (other than a revocable grantor trust) or a partnership, corporation or similar legal
entity, the right of redemption upon death shall be subject to the approval of company management in its sole discretion. We will
redeem such shares of Series T Preferred Stock at a redemption price equal to the Stated Value, plus an amount equal to accrued
but unpaid cash dividends thereon through and including the date of redemption. Upon any such redemption request, we have the right,
in our sole discretion, to pay the redemption price in cash or in equal value of shares of our Class A common stock, based
on the closing price per share of our Class A common stock for the single trading day prior to the date of redemption. Our
ability to redeem shares of Series T Preferred Stock in cash may be limited to the extent that we do not have sufficient funds
available to fund such cash redemption. Further, our obligation to redeem any of the shares of Series T Preferred Stock submitted
for redemption in cash may be restricted by Maryland law. No redemptions of shares of Series T Preferred Stock will be made in
cash at such time as the terms and provisions of any agreement to which we are a party prohibits such redemption or provides that
such redemption would constitute a breach thereof or a default thereunder.

 

For purposes of this
 “Optional Redemption Following Death of a Holder” provision, when the shares of Series T Preferred Stock to be redeemed
were acquired by the holder pursuant to either (i) the Series T DRIP or (ii) an Annual Series T Stock Dividend (such
shares, “DRIP/ASTSD Shares”), the “date of original issuance” of such DRIP/ASTSD Shares shall be deemed
to be the same as the date of original issuance of the underlying shares of Series T Preferred Stock pursuant to which such DRIP/​ASTSD
Shares are directly or indirectly attributable (such shares, “DRIP/ASTSD Underlying Series T Shares”).

 

    	 	28	 

     

    

 

Optional Redemption
by the Company.   Beginning two years from the date of original issuance of the shares of Series T
Preferred Stock to be redeemed, we will have the right to redeem any or all shares of our Series T Preferred Stock. We will
redeem such shares of Series T Preferred Stock at a redemption price equal to 100% of the Stated Value per share of Series T
Preferred Stock, plus an amount equal to any accrued but unpaid cash dividends. We have the right, in our sole discretion, to pay
the redemption price in cash or in equal value of shares of our Class A common stock, based on the closing price per share
of our Class A common stock for the single trading day prior to the date of the redemption, in exchange for the Series T
Preferred Stock.

 

For purposes of this
 “Optional Redemption by the Company” provision, where the shares of Series T Preferred Stock to be redeemed are
DRIP/ASTSD Shares, the “date of original issuance” of such DRIP/ASTSD Shares shall be deemed to be the same as the
date of original issuance of the DRIP/​ASTSD Underlying Series T Shares, and such DRIP/ASTSD Shares shall become subject
to optional redemption by the company hereunder on the same date as the DRIP/ASTSD Underlying Series T Shares.

 

We may exercise our
redemption right by delivering a written notice thereof to all, but not less than all, of the holders of the shares of Series T
Preferred Stock to be redeemed. A notice of redemption shall be irrevocable. Each such notice will state the date on which the
redemption by us shall occur, which date will be no less than seven (7) days following the notice date.

 

Change of Control
Redemption by the Company.   Upon the occurrence of a Change of Control (as defined below), we will be required
to redeem all outstanding shares of the Series T Preferred Stock in whole within 60 days after the first date on which
such Change of Control occurred, in cash at a redemption price of  $25.00 per share, plus an amount equal to all accrued
but unpaid cash dividends, if any, to and including the redemption date; provided, however, that if the Maryland law solvency tests
prohibit us from paying the full redemption price in cash, then we will pay such portion as would otherwise violate the solvency
tests in shares of our Class A common stock to holders of the Series T Preferred Stock on a pro rata basis, based
on the closing price per share of our Class A common stock for the single trading day prior to the date of redemption. Further,
our obligation to redeem any of the shares of Series T Preferred Stock in cash may be restricted by Maryland law. No redemptions
of shares of Series T Preferred Stock will be made in cash at such time as the terms and provisions of any agreement to which we
are a party prohibits such redemption or provides that such redemption would constitute a breach thereof or a default thereunder.

 

We will mail to you,
if you are a record holder of the Series T Preferred Stock, a notice of redemption no fewer than seven (7) days before
the redemption date. We will send the notice to your address shown on our stock transfer books. A failure to give notice of redemption
or any defect in the notice or in its mailing will not affect the validity of the redemption of any Series T Preferred Stock
except as to the holder to whom notice was defective. Each notice will state the following:

 

		•	the redemption date;

 

		•	the redemption price;

 

		•	the number of shares of Series T Preferred Stock to be redeemed;

 

		•	DTC’s procedures for book entry transfer of Series T Preferred Stock for payment of
the redemption price;

 

		•	that dividends on the shares of Series T Preferred Stock to be redeemed will cease to accrue
on such redemption date;

 

		•	that payment of the redemption price and an amount equal to any accrued but unpaid dividends will
be made upon book entry transfer of such Series T Preferred Stock in compliance with DTC’s procedures; and

 

		•	that the Series T Preferred Stock is being redeemed pursuant to our mandatory redemption in
connection with the occurrence of a Change of Control and a brief description of the transaction or transactions constituting such
Change of Control.

 

If we have given a notice
of redemption and have set apart sufficient funds for the redemption in trust for the benefit of the holders of the Series T
Preferred Stock called for redemption, then from and after the redemption date, those shares of Series T Preferred Stock will
be treated as no longer being outstanding, no further dividends will accrue and all other rights of the holders of those shares
of Series T Preferred Stock will terminate. The holders of those shares of Series T Preferred Stock will retain their
right to receive the redemption price for their shares and an amount equal to all accrued but unpaid cash dividends, if any, to
and including the redemption date, without interest.

 

The holders of Series T
Preferred Stock at the close of business on a dividend record date will be entitled to receive the dividend payable with respect
to the Series T Preferred Stock on the corresponding payment date notwithstanding the redemption of the Series T Preferred
Stock between such record date and the corresponding payment date or our default in the payment of the dividend due. Except as
provided above, we will make no payment or allowance for unpaid cash dividends, whether or not in arrears, on Series T Preferred
Stock to be redeemed.

 

    	 	29	 

     

    

 

For purposes of the
Series T Preferred Stock, “Change of Control” is when, after the original issuance of the Series T Preferred Stock,
any of the following has occurred and is continuing:

 

		·	a “person” or “group” within the meaning of Section 13(d) of the Securities
Exchange Act of 1934, as amended (the “Exchange Act”), other than our company, its subsidiaries, and its and their
employee benefit plans, has become the direct or indirect “beneficial owner,” as defined in Rule 13d-3 under the
Exchange Act, of our common equity representing more than 50% of the total voting power of all outstanding shares of our common
equity that are entitled to vote generally in the election of directors (“Voting Stock”); provided, that notwithstanding
the foregoing, such a transaction will not be deemed to involve a Change of Control if  (i) we become a direct or indirect
wholly-owned subsidiary of a holding company and (ii) the direct or indirect holders of the Voting Stock of such holding company
immediately following that transaction are substantially the same as the holders of our Voting Stock immediately prior to that
transaction;

 

		·	consummation of any share exchange, consolidation or merger of our company or any other transaction
or series of transactions pursuant to which our Class A common stock will be converted into cash, securities or other property,
(1) other than any such transaction where the shares of our Class A common stock outstanding immediately prior to such transaction
constitute, or are converted into or exchanged for, a majority of the common stock of the surviving person or any direct or indirect
parent company of the surviving person immediately after giving effect to such transaction, and (2) expressly excluding any such
transaction preceded by our company’s acquisition of the capital stock of another company for cash, securities or other property,
whether directly or indirectly through one of our subsidiaries, as a precursor to such transaction; or

 

		·	Series T Continuing Directors cease to constitute at least a majority of our board of directors.

 

For purposes of the
Series T Preferred Stock, “Series T Continuing Director” means a director who either was a member of our board of directors
on November 13, 2019 or who becomes a member of our board of directors subsequent to that date and whose appointment, election
or nomination for election by our stockholders was duly approved by a majority of the continuing directors on our board of directors
at the time of such approval, either by a specific vote or by approval of the proxy statement issued by our company on behalf of
our board of directors in which such individual is named as nominee for director. Upon any voluntary or involuntary liquidation,
dissolution or winding-up of our affairs, before any distribution or payment shall be made to holders of our common stock or any
other class or series of capital stock ranking junior to our shares of Series T Preferred Stock, the holders of shares of
Series T Preferred Stock will be entitled to be paid out of our assets legally available for distribution to our stockholders,
after payment or provision for our debts and other liabilities, a liquidation preference equal to the Stated Value per share, plus
an amount equal to any accrued but unpaid cash dividends (whether or not declared) to and including the date of payment, pari passu
with the holders of shares of any other class or series of our capital stock ranking on parity with the Series T Preferred
Stock, including the Series A Preferred Stock, Series B Preferred Stock, Series C Preferred Stock, and Series D
Preferred Stock, as to the liquidation preference and accrued but unpaid dividends they are entitled to receive.

 

After payment of the
full amount of the liquidating distributions to which they are entitled, the holders of our shares of Series T Preferred Stock
will have no right or claim to any of our remaining assets. Our consolidation or merger with or into any other corporation, trust
or other entity, the consolidation or merger of any other corporation, trust or entity with or into us, the sale or transfer of
any or all our assets or business, or a statutory share exchange will not be deemed to constitute a liquidation, dissolution or
winding-up of our affairs.

 

In determining whether
a distribution (other than upon voluntary or involuntary liquidation), by dividend, redemption or other acquisition of shares of
our stock or otherwise, is permitted under the MGCL, amounts that would be needed, if we were to be dissolved at the time of distribution,
to satisfy the preferential rights upon dissolution of holders of the Series T Preferred Stock will not be added to our total
liabilities.

 

Voting Rights.   Our
Series T Preferred Stock generally has no voting rights, except as set forth below.

 

So long as any shares
of Series T Preferred Stock remain outstanding, the holders of shares of Series T Preferred Stock will have the exclusive right
to vote on any amendment, alteration or repeal of our charter, including the terms of the Series T Preferred Stock, that would
alter only the contract rights, as expressly set forth in our charter, of the Series T Preferred Stock, and the holders of any
other classes or series of our capital stock will not be entitled to vote on such an amendment, alteration or repeal, with any
such amendment requiring the affirmative vote or consent of holders of two-thirds of the Series T Preferred Stock issued and outstanding
at the time.

 

    	 	30	 

     

    

 

In addition, holders
of shares of Series T Preferred Stock and of any preferred stock (i) ranking on parity with the Series T Preferred
Stock with respect to dividend rights and rights upon our liquidation, dissolution or winding up (the “Parity Preferred Stock”)
and (ii) upon which like voting rights have been conferred (such Parity Preferred Stock, the “Voting Preferred Stock”),
voting together as a single class, will also have the exclusive right to vote on any amendment, alteration or repeal of our charter,
including the terms of the Series T Preferred Stock, that would alter only the contract rights, as expressly set forth in
our charter, of the Series T Preferred Stock and such Voting Preferred Stock, with any such action requiring the affirmative
vote or consent of holders of shares of Series T Preferred Stock and such Voting Preferred Stock entitled to cast two-thirds
of all votes entitled to be cast on the matter, with each holder of Series T Preferred Stock and such Voting Preferred Stock
entitled to one vote for each $25.00 in liquidation preference. As of December 31, 2019, the Voting Preferred Stock in the foregoing
matter includes the Series A Preferred Stock, the Series C Preferred Stock, and the Series D Preferred Stock. The
holders of any other classes or series of our capital stock will not be entitled to vote on such an amendment, alteration or repeal.

 

Further, so long as
any shares of Series T Preferred Stock remain outstanding, the holders of shares of Series T Preferred Stock will also
have the right to vote to (a) authorize, create or issue, or increase the number of authorized or issued shares of, any class
or series of our capital stock ranking senior to the Series A Preferred Stock, Series B Preferred Stock, Series C
Preferred Stock, Series D Preferred Stock or Series T Preferred Stock with respect to dividend rights and rights upon
our liquidation, dissolution or winding up (any such senior stock, the “Senior Stock”), (b) reclassify any authorized
shares of our capital stock into Senior Stock, or (c) create, authorize or issue any obligation or security convertible into,
or evidencing the right to purchase, Senior Stock. Any such action will require the following:

 

		(1)	Pursuant to the Articles Supplementary for the Series T Preferred Stock, the affirmative vote or
consent of holders of  (i) Series T Preferred Stock, and (ii) any Voting Preferred Stock, entitled to cast a majority
of all votes collectively entitled to be cast by such holders, voting together as a single class, with each holder thereof entitled
to one vote for each $25.00 in liquidation preference;

 

		(2)	Pursuant to the respective articles supplementary establishing and setting forth the terms, rights,
preferences and limitations of each of the Series A Preferred Stock, the Series C Preferred Stock, and the Series D Preferred
Stock, the affirmative vote or consent of holders of  (i) Series A Preferred Stock, (ii) Series C Preferred
Stock, (iii) Series D Preferred Stock, and (iv) any future Parity Preferred Stock ( “Future Parity Preferred
Stock”) upon which like voting rights have been conferred, entitled to cast two-thirds of all votes collectively entitled
to be cast by the holders thereof, voting together as a single class, with each such holder entitled to one vote for each $25.00
in liquidation preference; and

 

		(3)	Pursuant to the terms of our side letter agreement with Cetera Financial Group, Inc. on behalf
of itself and its affiliated broker dealers in connection with the offer and sale of our Series B Preferred Stock (the “Cetera
Side Letter”), the affirmative vote of a majority of the votes cast by holders of  (i) Series A Preferred
Stock, (ii) Series B Preferred Stock, (iii) Series C Preferred Stock, (iv) Series D Preferred Stock,
(v) Series T Preferred Stock, and (vi) any Future Parity Preferred Stock, voting together as a single class, with
each such holder entitled to one vote for each $1,000.00 in liquidation preference.

 

Holders of shares
of Series T Preferred Stock will not be entitled to vote with respect to any increase in the total number of authorized shares
of our common stock or preferred stock, any issuance or increase in the number of authorized shares of Series T Preferred
Stock or the creation or issuance of any other class or series of capital stock, or any increase in the number of authorized shares
of any class or series of capital stock, in each case ranking on parity with or junior to the Series T Preferred Stock with
respect to the payment of dividends and the distribution of assets upon liquidation, dissolution or winding up.

 

Except as described
above, holders of shares of Series T Preferred Stock will not have any voting rights with respect to, and the consent of the
holders of shares of Series T Preferred Stock is not required for, the taking of any corporate action, regardless of the effect
that such corporate action may have upon the powers, preferences, voting power or other rights or privileges of the Series T
Preferred Stock.

 

Dividend Coverage
Ratio.   For so long as any shares of Series T Preferred Stock remain outstanding, the company will maintain
a Dividend Coverage Ratio (as defined below) of not less than 1.1:1 (the “Series T Coverage Requirement”) as of
the end of each calendar quarter. If the Dividend Coverage Ratio is below the Series T Coverage Requirement as reflected in
a Current Filing (as defined below), then on and after the date of such Current Filing and until and unless the Series T Coverage
Requirement has been met, the Company shall not (i) issue any additional shares of Parity Preferred Stock, nor (ii) make any voluntary
distributions on shares of Class A common stock or any other class or series of our capital stock other than stock that, pursuant
to its express terms, ranks junior to the Series T Preferred Stock with respect to any other distributions or liquidation rights
upon voluntary or involuntary liquidation, dissolution or winding up of our affairs (“Junior Stock”); in either case,
other than distributions required to maintain our qualification as a REIT for tax purposes.

 

    	 	31	 

     

    

 

For purposes of the
Series T Coverage Requirement, the Dividend Coverage Ratio shall equal the quotient of: (A) our Core Funds from Operations,
or CFFO (as more fully defined below), as set forth in our Quarterly Report on Form 10-Q or Annual Report on Form 10-K, as applicable
and including any amendment thereof, filed during the most recent quarter (the “Current Filing”), and further adjusted
to add back the expense of all preferred dividends, for the two most recent quarters, plus the sum of: (1) the product of
(a)(i) unrestricted cash on our balance sheet as reflected in the Current Filing, minus (ii) an amount equal to the greater of 
$5,000,000 or 5.0% of the amount in subclause (1)(a)(i) (provided, if such calculation would cause the amount to be negative, it
will instead be equal to zero), multiplied by (b) a 5.0% annualized rate of return over such quarterly period, and (2) the
product of  (a)(i) unrestricted cash on our balance sheet as reflected in the filing filed immediately preceding the Current
Filing, minus (ii) an amount equal to the greater of  $5,000,000 or 5.0% of the amount in subclause (2)(a)(i) (provided,
if such calculation would cause the amount to be negative, it will instead be equal to zero), multiplied by (b) a 5.0% annualized
rate of return over such quarterly period; over (B) the amount of preferred dividends required to be distributed to the Series T
Holders and any (x) Parity Preferred Stock, or (y)  any preferred stock the terms of which expressly provide that it
ranks senior to the Series T Preferred Stock with respect to any other distributions or liquidation rights upon voluntary
or involuntary liquidation, dissolution or winding up of our affairs for such quarters without any breach, default or deferral
with respect to any such distributions.

 

For purposes of the
Series T Coverage Requirement, CFFO means our Core Funds from Operations, as set forth in our Current Filing; provided that such
amount is calculated in a manner substantially consistent with the manner in which CFFO was calculated in our Quarterly Report
on Form 10-Q filed for the third quarter of 2019 or in a manner otherwise calculated in accordance with commonly accepted industry
practices at the time of the Current Filing (the “CFFO Calculation Standard”). Notwithstanding the foregoing, if we
do not report CFFO in a Current Filing, either in response to industry practice or as required by the Securities and Exchange Commission
or other regulatory body, CFFO for such applicable period will be calculated in a manner consistent with the manner in which CFFO
was calculated in the last periodic filing in which CFFO was (a) included and (b) calculated in a manner consistent with the CFFO
Calculation Standard.

 

So long as any shares
of Series T Preferred Stock remain outstanding, we will not sell an asset if such sale would cause us to fail to meet the
Series T Coverage Requirement, with CFFO for such purposes determined on a reasonable pro forma basis to adjust for the
effect of disposing of the subject property, unless such sale is reasonably necessary for us to maintain our qualification as a
REIT for federal income tax purposes, as determined by a majority of our independent directors.

 

Series T Dividend
Reinvestment Plan. The company has adopted a dividend reinvestment plan for the Series T Preferred Stock (the “Series T
DRIP”), pursuant to which holders of Series T Preferred Stock may elect to have all, but not less than all, of their
Series T Cash Dividends automatically reinvested in additional shares of Series T Preferred Stock at a price of 
$25.00 per share. Holders who do not so elect will receive their Series T Cash Dividends in cash. The Series T DRIP will
be administered by our transfer agent, Computershare Trust Company, N.A.

 

Exchange Listing.  We
do not plan on making an application to list the shares of our Series T Preferred Stock on the NYSE American, any other national
securities exchange or any other nationally recognized trading system. Our Class A common stock and our Series A Preferred Stock,
Series C Preferred Stock, and Series D Preferred Stock are listed on the NYSE American. Our Series B Preferred Stock is not listed
on an exchange and we do not intend to apply to have any such shares listed on an exchange in the future.

 

Restrictions on Ownership and Transfer

 

In order for us to
maintain our qualification as a REIT under the federal tax laws, we must meet several requirements concerning the ownership of
our outstanding capital stock. Specifically, no more than 50% in value of our outstanding shares of capital stock may be owned,
directly or indirectly, by five or fewer individuals (as defined in the federal income tax laws to include specified private foundations,
employee benefit plans and trusts, and charitable trusts) during the last half of any taxable year, other than our first REIT taxable
year. Moreover, our outstanding shares of capital stock must be beneficially owned by 100 or more persons during at least 335 days
of a taxable year of 12 months or during a proportionate part of a shorter taxable year, other than our first REIT taxable year.

 

Because our board
of directors believes it is essential for our Company to qualify and continue to qualify as a REIT and for other corporate purposes,
our charter, subject to the exceptions described below, provides that no person may own, or be deemed to own by virtue of the attribution
provisions of the federal income tax laws, more than 9.8% of:

 

		•	the total value of the
aggregate of the outstanding shares of our capital stock; or

 

		•	the total value or number
(whichever is more restrictive) of the aggregate of the outstanding shares of our common stock.

 

    	 	32	 

     

    

 

For purposes of this
calculation, Warrants treated as held by a person will be deemed to have been exercised. However, unless our board of directors
decides to apply a different interpretation of our charter, Warrants held by unrelated persons will not be deemed to be exercised.
As a result of this treatment, shares that could be received upon an exercise of a Warrant held by an investor will be included
in both the numerator and the denominator when calculating how many shares an investor may own without violating the 9.8% ownership
limits.

 

In addition, the articles
supplementary establishing each of the Series A Preferred Stock, the Series B Preferred Stock, the Series C Preferred Stock, the
Series D Preferred Stock, and the Series T Preferred Stock (respectively) provide that generally no person may own, or be deemed
to own by virtue of the attribution provisions of the Code, either more than 9.8% in value or in number of shares, whichever is
more restrictive, of the aggregate of the outstanding shares of Series A Preferred Stock, Series B Preferred Stock, Series C Preferred
Stock, Series D Preferred Stock, or Series T Preferred Stock (as applicable). We refer to these limitations regarding the ownership
of our shares collectively as the “9.8% Ownership Limitation.” Further, our charter provides for certain circumstances
where our board of directors may exempt (prospectively or retroactively) a person from the 9.8% Ownership Limitation and establish
or increase an excepted holder limit for such person. Subject to certain conditions, our board of directors may also increase the
9.8% Ownership Limitation for one or more persons and decrease the 9.8% Ownership Limitation for all other persons.

 

To assist us in preserving
our status as a REIT, among other purposes, our charter also contains limitations on the ownership and transfer of shares of capital
stock that would:

 

		•	result in our capital
stock being beneficially owned by fewer than 100 persons, determined without reference to any rules of attribution;

 

		•	result in our Company
being “closely held” under the federal income tax laws; and

 

		•	cause our Company to
own, actually or constructively, 9.8% or more of the ownership interests in a tenant of our real property, under the federal income
tax laws or otherwise fail to qualify as a REIT.

 

Any attempted transfer
of our stock which, if effective, would result in our stock being beneficially owned by fewer than 100 persons will be null and
void, with the intended transferee acquiring no rights in such shares of stock. If any transfer of our stock occurs which, if effective,
would result in any person owning shares in violation of the other limitations described above (including the 9.8% Ownership Limitation),
then that number of shares the ownership of which otherwise would cause such person to violate such limitations, rounded up to
the nearest whole share, will automatically result in such shares being designated as shares-in-trust and transferred automatically
to a trust effective on the close of business on the business day before the purported transfer of such shares. We will designate
the trustee, but it will not be affiliated with our Company. The beneficiary of the trust will be one or more charitable organizations
that are named by our Company. If the transfer to the trust would not be effective for any reason to prevent a violation of the
limitations on ownership and transfer, then the transfer of that number of shares that otherwise would cause the violation will
be null and void, with the intended transferee acquiring no rights in such shares.

 

Shares-in-trust will
remain shares of issued and outstanding capital stock and will be entitled to the same rights and privileges as all other stock
of the same class or series but the intended transferee will acquire no rights in those shares. The trustee will receive all dividends
and other distributions on the shares-in-trust and will hold such dividends or other distributions in trust for the benefit of
the beneficiary. Any dividend or other distribution paid prior to our discovery that shares of stock have been transferred to the
trustee will be paid by the recipient to the trustee upon demand. Any dividend or other distribution authorized but unpaid will
be paid when due to the trustee. The trustee will vote all shares-in-trust and, subject to Maryland law, effective as of the date
that the shares-in-trust were transferred to the trustee, the trustee will have the authority to rescind as void any vote cast
by the proposed transferee prior to our discovery that the shares have been transferred to the trust and to recast the vote in
accordance with the desires of the trustee acting for the benefit of the beneficiary. However, if we have already taken irreversible
corporate action, then the trustee will not have the authority to rescind and recast the vote.

 

Within 20 days of
receiving notice from us that shares of our stock have been transferred to the trust, the trustee will sell the shares to a person
designated by the trustee whose ownership of the shares will not violate the above ownership limitations. Upon the sale, the interest
of the beneficiary in the shares sold will terminate and the trustee will distribute the net proceeds of the sale to the record
holder of the shares that are designated as shares-in-trust (the “Prohibited Owner”), and to the beneficiary as follows.
The Prohibited Owner generally will receive from the trust the lesser of:

 

		•	the price per share
such Prohibited Owner paid for the shares of capital stock that were designated as shares-in-trust or, in the case of a gift or
devise, the market price per share on the date of the event causing such transfer; or

 

    	 	33	 

     

    

 

		•	the price per share
received by the trust from the sale of such shares-in-trust, net of any commissions and other expenses of sale.

 

The trustee may reduce
the amount payable to the Prohibited Owner by the amount of dividends and other distributions that have been paid to the Prohibited
Owner and are owed by the Prohibited Owner to the trustee. The trust will distribute to the beneficiary any amounts received by
the trust in excess of the amounts to be paid to the Prohibited Owner. If, prior to our discovery that shares of our stock have
been transferred to the trust, the shares are sold by the proposed transferee, then the shares shall be deemed to have been sold
on behalf of the trust and, to the extent that the Prohibited Owner received an amount for the shares that exceeds the amount the
Prohibited Owner was entitled to receive, the excess shall be paid to the trustee upon demand.

 

In addition, the shares-in-trust
will be deemed to have been offered for sale to us, or our designee, at a price per share equal to the lesser of:

 

		•	the price per share
in the transaction that created such shares-in-trust or, in the case of a gift or devise, the market price per share on the date
of such gift or devise; or

 

		•	the market price per
share on the date that we, or our designee, accepts such offer.

 

We may reduce the
amount payable to the Prohibited Owner by the amount of dividends and other distributions that have been paid to the Prohibited
Owner and are owed by the Prohibited Owner to the trustee. We may pay the amount of such reduction to the trustee for the benefit
of the beneficiary.

 

“Market price”
on any date means the closing price for our stock on such date. The “closing price” refers to the last sale price,
regular way as reported by the primary securities exchange or market on which our stock is then listed or quoted for trading. If
our stock is not so listed or quoted at the time of determination of the market price, our board of directors will determine the
market price.

 

If you acquire or
attempt or intend to acquire shares of our capital stock in violation of the foregoing restrictions, or if you owned common or
preferred stock that was transferred to a trust, then we will require you to give us immediate written notice of such event or,
in the case of a proposed or attempted transaction, at least 15 days written notice, and to provide us with such other information
as we may request in order to determine the effect, if any, of such transfer on our status as a REIT.

 

If you own, directly
or indirectly, 5% or more, or such lower percentages as required under the federal income tax laws, of our outstanding shares of
stock, then you must, upon request following the end of each taxable year, provide to us a written statement or affidavit stating
your name and address, the number of shares of capital stock owned directly or indirectly, and a description of how such shares
are held. In addition, each direct or indirect stockholder shall provide to us such additional information as we may request in
order to determine the effect, if any, of such ownership on our qualification as a REIT and to ensure compliance with the 9.8%
Ownership Limitation.

 

The 9.8% Ownership
Limitation generally will not apply to the acquisition of shares of capital stock by an underwriter that participates in a public
offering of such shares. In addition, our board of directors, upon receipt of a ruling from the IRS or an opinion of counsel and
upon such other conditions as our board of directors may direct, including the receipt of certain representations and undertakings
required by our charter, may exempt (prospectively or retroactively) a person from the ownership limit and establish or increase
an excepted holder limit for such person. The 9.8% Ownership Limitation will continue to apply until our board of directors determines
that it is no longer in the best interests of our Company to attempt to qualify, or to continue to qualify, as a REIT or that compliance
is no longer required for REIT qualification.

 

All certificates,
if any, representing our common or preferred stock, will bear a legend referring to the restrictions described above or a legend
that we will furnish a full statement about these restrictions on request and without charge.

 

The ownership limit
in our charter may have the effect of delaying, deferring or preventing a takeover or other transaction or change in control of
our Company that might involve a premium price for your shares or otherwise be in your interest as a stockholder.

 

    	 	34	 

     

    

 

Distributions

 

During certain periods
of our operations, we have funded distributions from sources other than cash flow from operations, such as from the proceeds of
our continuous registered offerings conducted prior to our IPO, proceeds from our IPO, proceeds from our subsequent underwritten
offerings and at the market, or ATM, offerings, and/or any future offering, the sale of our assets, or cash resulting from borrowings
(including borrowings secured by our assets) in anticipation of future operating cash flow until such time as we have sufficient
cash flow from operations to fully fund the payment of distributions therefrom, and may do so in the future if we are unable to
make distributions with our cash flows from our operations. Generally, our policy is to pay distributions from cash flow from operations.
Further, because we may receive income from interest or rents at various times during our fiscal year and because we may need cash
flow from operations during a particular period to fund capital expenditures and other expenses, we expect that from time to time,
we will declare distributions in anticipation of cash flow that we expect to receive during a later period and we will pay these
distributions in advance of our actual receipt of these funds. We may fund such distributions from third party borrowings, offering
proceeds, or sale proceeds. To the extent we invest in development or redevelopment projects or in properties that have significant
capital requirements, these properties will not immediately generate operating cash flow, and although we intend to structure many
of these investments under our Invest-to-Own strategy to provide for income to us during the development stage, our ability to
make distributions may be negatively impacted.

 

Subject to the preferential
rights of holders of our Series A Preferred Stock, our Series B Preferred Stock, our Series C Preferred Stock, our Series D Preferred
Stock, our Series T Preferred Stock, and any other class or series of stock, our board of directors intends to authorize, and we
intend to declare, dividends on our Class A common stock and our Class C common stock quarterly, in arrears. The record date and
payment date will be as determined by our board of directors in their sole discretion; however, we expect such dividends to also
be payable quarterly, in arrears. Distributions will be paid to stockholders as of the record dates for the periods selected by
the directors.

 

We are required to
make distributions sufficient to satisfy the requirements for qualification as a REIT for tax purposes. Generally, distributed
income will not be taxable to us under the Code if we distribute at least 90% of our REIT taxable income.

 

Distributions are
authorized at the discretion of our board of directors, in accordance with our earnings, cash flow, anticipated cash flow and general
financial condition and subject in all cases to requirements under Maryland law.

 

The board’s
discretion will be directed, in substantial part, by its intention to cause us to continue to qualify as a REIT.

 

Many of the factors
that can affect the availability and timing of cash distributions to stockholders are beyond our control, and a change in any one
factor could adversely affect our ability to pay future distributions. There can be no assurance that future cash flow will support
distributions at the rate that such distributions are paid in any particular distribution period.

 

Under Maryland law,
we may issue our own securities as stock dividends in lieu of making cash distributions to stockholders. We may issue securities
as stock dividends in the future.

 

Transfer Agent and Registrar

 

The transfer agent
and registrar for our Class A common stock, Class C common stock, Series A Preferred Stock, Series B Preferred Stock, Series C
Preferred Stock, Series D Preferred Stock, and Series T Preferred Stock is Computershare Trust Company, N.A.

 

 

    	 	35

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