Document:

EX-10.2

 Exhibit 10.2 

JOINDER AGREEMENT 
 This
Joinder Agreement is made and entered into as of August 31, 2020, by and among Steadfast Apartment Advisor, LLC, a Delaware limited liability company (the “Advisor”), Steadfast Apartment REIT, Inc., a Maryland corporation (the
“Company”) and Steadfast Apartment REIT Operating Partnership, L.P. f/k/a Steadfast Income REIT Operating Partnership, L.P., a Delaware limited partnership that is the operating partnership of the Company (the
“OP”). 
 WHEREAS, the Advisor and the Company are parties to that certain Amended and Restated Advisory Agreement dated as
of March 5, 2020 (as amended, the “Advisory Agreement”) which provides for, among other matters, the management of the Company’s day-to-day
activities by the Advisor; 
 WHEREAS, the Advisor, the Company and the OP desire that the OP execute and deliver this Joinder Agreement and
thereby become a party to, bound by and have the rights and benefits of the Advisory Agreement in the capacity as the Company’s operating partnership; 

NOW, THEREFORE, in consideration of the mutual covenants set forth herein and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows: 
 1. Joinder to
the Advisory Agreement. By executing and delivering this Joinder Agreement, the parties hereto hereby agree that the OP shall, and hereby does, become a party to the Advisory Agreement, shall be entitled to receive the services from Advisor as
contemplated in the Advisory Agreement and shall be bound by and comply with all of the terms, conditions and obligations of the Advisory Agreement applicable to the Company. The signature page of this Joinder Agreement shall also constitute the
OP’s counterpart signature page to the Advisory Agreement. 
 2. Complete Agreement. This Joinder Agreement and the Advisory
Agreement contain the complete agreement between the parties with respect to the subject matter hereof and thereof and supersede any prior understandings, agreements or representations by or between the parties, written or oral, which may have
related to the subject matter hereof and thereof in any way. 
 3. Counterparts. This Joinder Agreement may be executed in two or more
counterparts, each of which shall be deemed an original, and it shall not be necessary in making proof of this Joinder Agreement or the terms of this Joinder Agreement to produce or account for more than one of such counterparts. The exchange of
copies of this Joinder Agreement and of signature pages by facsimile transmission, PDF or other electronic file shall constitute effective execution and delivery of this Joinder Agreement as to the parties and may be used in lieu of the original
Joinder Agreement for all purposes. Signatures of the parties transmitted by facsimile, PDF or other electronic file shall be deemed to be their original signatures for all purposes. 

4. Governing Law and Jurisdiction. This Joinder Agreement shall be governed by, and construed in accordance with, the laws of the State
of Delaware. 
 [Signature page follows] 

Confidential 

 IN WITNESS WHEREOF, the parties hereto have executed this Joinder Agreement on the date
first written above. 
  

									
	OP:	 	        	 	STEADFAST APARTMENT REIT OPERATING PARTNERSHIP, L.P.	 	
		 		 	By: Steadfast Apartment REIT, Inc.	 	
		 		 	Its: General Partner	 	
					
		 		 	By:	 	 /s/ Ella S. Neyland
	 	
		 		 		 	Name: Ella S. Neyland	 	
		 		 		 	Title: Chief Financial Officer	 	
				
	COMPANY:	 		 	STEADFAST APARTMENT REIT, INC.	 	
					
		 		 	By:	 	 /s/ Ella S. Neyland
	 	
		 		 		 	Name: Ella S. Neyland	 	
		 		 		 	Title: Chief Financial Officer	 	
				
	ADVISOR:	 		 	STEADFAST APARTMENT ADVISOR, LLC	 	
					
		 		 	By:	 	 /s/ Ana Marie de Rio
	 	
		 		 		 	Name: Ana Marie del Rio	 	
		 		 		 	Title: Secretary	 	

 [Signature Page to STAR Advisory Joinder Agreement]EX-10.3

 Exhibit 10.3 

AMENDMENT NO. 1 
 TO THE

 AMENDED AND RESTATED 

ADVISORY AGREEMENT 
 This
Amendment No. 1 to the Amended and Restated Advisory Agreement (this “Amendment”) is made and entered into as of August 31, 2020, by and among Steadfast Apartment REIT, Inc., a Maryland corporation (the
“Company”), Steadfast Apartment Advisor, LLC, a Delaware limited liability company (the “Advisor”), and Steadfast Apartment REIT Operating Partnership, L.P. (f/k/a Steadfast Income REIT Operating Partnership, L.P.),
a Delaware limited partnership (the “OP”). The Company, the Advisor and the OP are collectively referred to herein as the “Parties”. Capitalized terms used but not defined herein shall have the meaning set forth in
the Advisory Agreement (as defined below). 
 W I T N E S S E T H 

WHEREAS, the Company and the Advisor previously entered into that certain Amended and Restated Advisory Agreement, dated as of March 5,
2020 (as amended, the “Advisory Agreement”), which provided for, among other matters, the management of the Company’s day-to-day activities by the
Advisor; 
 WHEREAS, the OP became a party to the Advisory Agreement pursuant to a Joinder Agreement made and entered into on
August 31, 2020, by and among the OP, the Advisor and the Company; 
 WHEREAS, the current term of the Advisory Agreement expires
March 6, 2021, which may be renewed for an unlimited number of successive one-year terms; and 

WHEREAS, pursuant to Section 28 (Modification), the Parties desire to amend the Advisory Agreement pursuant to this Amendment in order to
(i) remove certain restrictions on the Company to internalize the management functions performed by the Advisor, (ii) clarify certain obligations of the Parties and (iii) amend the form of payment of the Investment Management Fees and
Loan Coordination Fee (each as defined in the Advisory Agreement). 
 NOW, THEREFORE, in consideration of the foregoing and of the mutual
covenants and agreements contained herein, the Parties, intending to be legally bound, hereby agree as follows: 
 ARTICLE I 

AMENDMENT 

Section 1.1 Amendment to Section 14 (Business Combinations). Section 14 of the Advisory
Agreement is hereby deleted in its entirety and is replaced with “14. [RESERVED]”. 
 Section 1.2
Amendment to Payment Obligations. The Company shall pay to the Advisor all accrued and outstanding amounts owed to the Advisor pursuant to the Advisory Agreement as of August 31, 2020 (the “Accrued Amounts”), within thirty
(30) days of the date of this Amendment, which shall be payable in the form of cash and stock as set forth in the Advisory Agreement without regard to any amendment herein. The Parties agree that the OP shall be responsible for the payment of
any amounts due and payable by the OP pursuant to the Advisory Agreement, as amended hereby, that accrue on or after September 1, 2020. 

Section 1.3. Amendment to Section 9 (Fees). Subject to Section 1.2 above, Section 9 of
the Advisory Agreement is hereby amended and replaced as follows: 
 9. FEES. The OP shall pay the Advisor the following
fees subject to the conditions set forth below. 
 (a) Acquisition Fees. The OP shall pay to the Advisor or an Affiliate
an Acquisition Fee payable by the OP, in cash, as compensation for services rendered in connection with the investigation, selection, acquisition (by purchase, investment or exchange), origination, development, construction or improvement of
Investments as set forth in Section 3(b) hereof. The total Acquisition Fees payable to the Advisor or its Affiliates shall equal 0.5% of (1) the Cost of Investment or (2) the Company’s allocable portion of the purchase price in
connection with the acquisition or origination 

 
of any Investment acquired through a Joint Venture. Notwithstanding anything herein to the contrary, the payment of Acquisition Fees by the OP shall be subject to the limitations on acquisition
fees contained in (and defined in) the Articles of Incorporation. The Advisor shall submit an invoice to the OP following the closing of each Investment, accompanied by a computation of the Acquisition Fee. Generally the Acquisition Fee shall be
paid to the Advisor at the closing of the transaction upon receipt of the invoice by the OP; provided, however, that such Acquisition Fee shall be paid to an Affiliate of the Advisor that is registered as a FINRA member broker-dealer if applicable
laws or regulations prohibit such payment to be made to a Person that is not a FINRA member broker-dealer. In addition, payment of the Acquisition Fee may be deferred, in whole or in part, as to any transaction in the sole discretion of the
Advisor. Any such deferred Acquisition Fees shall be paid to the Advisor without interest at such subsequent date as the Advisor shall request. 

(b) Limitation on Total Acquisition Fees, Origination Fees and Acquisition Expenses. In no event will the total of all
Acquisition Fees and Acquisition Expenses (including any Loan Coordination Fee) payable with respect to a particular Investment exceed 4.5% of the “Contract Price for the Property,” as defined in the NASAA REIT Guidelines, unless a
majority of the Independent Directors approves the Acquisition Fees and Acquisition Expenses and determines the transaction to be commercially competitive, fair and reasonable to the OP. 

(c) Disposition Fee. In connection with a Sale of an Investment in which the Advisor or any Affiliate of the Advisor
provides a substantial amount of services as determined by a majority of the Independent Directors, the OP shall pay to the Advisor or its Affiliate, in cash, a Disposition Fee up to one-half of the
Competitive Real Estate Commission paid, but in no event to exceed 0.5% of the Sales Price of the Investment sold. Any Disposition Fee payable under this Section 9(c) may be paid in addition to real estate commissions paid to non-Affiliates, provided that the total real estate commissions (including such Disposition Fee) paid to all Persons by the OP for the Sale of each Real Estate Asset shall not exceed the lesser of the Competitive
Real Estate Commission or an amount equal to 6.0% of the Contract Sales Price. Substantial assistance in connection with a Sale may include the preparation of an investment package (for example, a package including a new investment analysis, rent
rolls, Argus projections, tenant information regarding credit, a property title report, an environmental report, a structural report and exhibits) or other such substantial services performed in connection with a Sale. The Advisor shall submit an
invoice to the OP following the closing or closings of each disposition, accompanied by a computation of the Disposition Fee. Generally, the Disposition Fee shall be paid to the Advisor at the closing of the transaction upon receipt of the invoice
by the OP; provided, however, that such Disposition Fee shall be paid to an Affiliate of the Advisor that is registered as a FINRA member broker-dealer if applicable laws or regulations prohibit such payment to be made to a Person that is not a
FINRA member broker-dealer. In addition, payment of the Disposition Fee may be deferred, in whole or in part, as to any transaction in the sole discretion of the Advisor. Any such deferred Disposition Fees shall be paid to the Advisor without
interest at such subsequent date as the Advisor shall request. 
 (d) Investment Management Fee. The Advisor shall
receive the Investment Management Fee as compensation for services rendered in connection with the management of the Company’s assets as set forth in Section 3(c) hereof. The Investment Management Fee shall be payable to the Advisor in
cash monthly in an amount equal to one-twelfth of 1.0% of the Cost of Investments. The Advisor shall submit a monthly invoice to the OP, accompanied by a computation of the Investment Management Fee for the
applicable period. Generally, the Investment Management Fee payable to the Advisor shall be paid in cash on the last day of such month, or the first business day following the last day of such month. In addition, payments of the Investment
Management Fee may be deferred, in whole or in part, as to any transaction in the sole discretion of the Advisor. Any such deferred Investment Management Fee shall be paid to the Advisor without interest at such subsequent date as the Advisor shall
request. 
 (e) Loan Coordination Fee. The OP will pay the Advisor or one of its Affiliates, in cash, the Loan
Coordination Fee equal to 0.5% of (1) the initial amount of new debt financed or outstanding debt assumed in connection with the acquisition, development, construction, improvement or origination of any type of Real Estate Asset or Real
Estate-Related Asset acquired directly or (2) the Company’s allocable portion of the purchase price and therefore the related debt in connection with the acquisition or origination of any type of Real Estate Asset or Real Estate-Related
Asset acquired through a Joint Venture. 
 As compensation for services rendered in connection with any financing or the refinancing of any
debt (in each case, other than at the time of the acquisition of a property), the OP will also pay the Advisor or one of its Affiliates a Loan Coordination Fee equal to 0.50% of the amount refinanced or the Company’s proportionate share of the
amount refinanced in the case of Investments made through a Joint Venture. 
 (f) [Reserved.] 

 (g) Changes to Fee Structure. In the event of Listing, the Company and
the Advisor shall negotiate in good faith to establish a fee structure appropriate for a perpetual-life entity. 
 ARTICLE II 

MISCELLANEOUS 

Section 2.1 Continued Effect. Except as specifically set forth herein, all other terms and conditions of the
Advisory Agreement shall remain unmodified and in full force and effect, the same being confirmed and republished hereby. In the event of any conflict between the terms of the Advisory Agreement and the terms of this Amendment, the terms of this
Amendment shall control. 
 Section 2.2 Counterparts. The Parties may sign any number of copies of this Amendment.
Each signed copy shall be an original, but all of them together represent the same agreement. Delivery of an executed counterpart of a signature page of this Amendment or any document or instrument delivered in connection herewith by telecopy or
other electronic method shall be effective as delivery of a manually executed counterpart of this Amendment or such other document or instrument, as applicable. 

Section 2.3 Governing Law. This Amendment shall be governed by, and construed in accordance with, the internal laws
of the State of Delaware. 
 [Signatures on following page] 

 IN WITNESS WHEREOF, the Parties have caused this Amendment to be duly executed as of the
date first written above. 
  

			
	STEADFAST APARTMENT REIT, INC.
		
	By:	 	 /s/ Ella S. Neyland

	Name: Ella S. Neyland
	Title: Chief Financial Officer
	
	STEADFAST APARTMENT ADVISOR, LLC
		
	By:	 	 /s/ Ana Marie de Rio

	Name: Ana Marie del Rio
	Title: Secretary
	
	STEADFAST APARTMENT REIT OPERATING PARTNERSHIP, L.P.
	
	By: STEADFAST APARTMENT REIT, INC., its General Partner
		
	By:	 	 /s/ Ella S. Neyland

	Name: Ella Shaw Neyland
	Title: Chief Financial Officer

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