Document:

EX-10.1

 EXHIBIT 10.1 

VOTING AGREEMENT 

between 
 RESOURCE REAL
ESTATE OPPORTUNITY REIT II, INC. 
 and 

RESOURCE REAL ESTATE, LLC 

 VOTING AGREEMENT 

THIS VOTING AGREEMENT (this “Agreement”), dated as of September 8, 2020, is between Resource Real Estate, LLC, a Delaware
limited liability company (“Stockholder”) and Resource Real Estate Opportunity REIT II, Inc., a Maryland corporation (“REIT II”). REIT II and the Stockholder are each sometimes referred to herein individually as a
“Party” and collectively as the “Parties.” 
 W I T N E S S E T H 

WHEREAS, concurrently with the execution of this Agreement, Resource Real Estate Opportunity REIT, Inc., a Maryland corporation (“REIT
I”), REIT II and Revolution I Merger Sub, LLC, a Maryland limited liability company and wholly owned subsidiary of REIT II (“Merger Sub”), are entering into an Agreement and Plan of Merger (as the same may be amended from time to
time, the “Merger Agreement”), providing for, among other things, the merger (the “Merger”) of REIT I with and into Merger Sub pursuant to the terms and conditions of the Merger Agreement; 

WHEREAS, in order to induce REIT II to enter into the Merger Agreement, Stockholder is willing to make certain representations, warranties,
covenants, and agreements as set forth in this Agreement with respect to the 30,206 shares of convertible stock, $0.01 par value per share (“Convertible Stock”) of REIT I Beneficially Owned by Stockholder (the “Original Shares”
and, together with any additional shares of REIT I Convertible Stock pursuant to Section 6 hereof, the “Shares”); and 

WHEREAS, as a condition to its willingness to enter into the Merger Agreement, REIT II has required that Stockholder, and Stockholder has
agreed to, execute and deliver this Agreement. 
 NOW, THEREFORE, in consideration of the foregoing and the respective representations,
warranties, covenants, and agreements set forth below and for other good and valuable consideration, the receipt, sufficiency, and adequacy of which are hereby acknowledged, the Parties hereto, intending to be legally bound, do hereby agree as
follows: 
 1. DEFINITIONS. 
 For purposes of
this Agreement, capitalized terms used and not otherwise defined herein shall have the respective meanings ascribed to such terms in the Merger Agreement. When used in this Agreement, the following terms in all of their tenses, cases, and
correlative forms shall have the meanings assigned to them in this Section 1. 
 “Action” shall have the meaning given in
Section 2 of this Agreement. 

  
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 “Agreement” shall have the meaning given in the preamble to this Agreement. 

“Beneficially Own” or “Beneficial Ownership” has the meaning assigned to such term in Rule
13d-3 under the Exchange Act, and a Person’s beneficial ownership of securities shall be calculated in accordance with the provisions of such rule (in each case, irrespective of whether or not such rule
is actually applicable in such circumstance). For the avoidance of doubt, “Beneficially Own” and “Beneficial Ownership” shall also include record ownership of securities. 

“Beneficial Owner” shall mean the Person who Beneficially Owns the referenced securities. 

“Convertible Stock” shall have the meaning given in the preamble to this Agreement. 

“Expiration Time” shall have the meaning given in Section 7 of this Agreement. 

“Merger” shall have the meaning given in the preamble to this Agreement. 

“Merger Agreement” shall have the meaning given in the preamble to this Agreement. 

“Merger Sub” shall have the meaning given in the preamble to this Agreement. 

“Original Shares” shall have the meaning given in the preamble to this Agreement. 

“Party” or “Parties” shall have the meaning given in the preamble to this Agreement. 

“REIT I” shall have the meaning given in the preamble to this Agreement. 

“REIT II” shall have the meaning given in the preamble to this Agreement. 

“Shares” shall have the meaning given in the preamble to this Agreement. 

“Stockholder” shall have the meaning given in the preamble to this Agreement. 

“Transfer” shall have the meaning given in Section 5 of this Agreement. 

2. REPRESENTATIONS OF STOCKHOLDER. 
 Stockholder
represents and warrants to REIT II that: 
 (a) Ownership of Shares. Stockholder: (i) is the Beneficial Owner of
all of the Original Shares free and clear of any proxy, voting restriction, adverse claim, or other Liens, other than those created by this Agreement or under applicable federal or state securities laws; and (ii) has the sole voting power over
all of the Original Shares. Except pursuant to this Agreement, there are no options, warrants, or other rights, agreements, arrangements, or commitments of any character to which Stockholder is a party relating to the pledge, disposition, or voting
of any of the Original Shares and there are no voting trusts or voting agreements with respect to the Original Shares. 

  
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 (b) Power and Authority; Binding Agreement. Stockholder has full
limited liability company power and authority to enter into, execute, and deliver this Agreement and to perform fully Stockholder’s obligations hereunder (including the proxy described in Section 3(b) below)). This Agreement has been duly
and validly executed and delivered by Stockholder and constitutes the legal, valid, and binding obligation of Stockholder, enforceable against Stockholder in accordance with its terms except as may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium or other similar Laws affecting creditors’ rights generally. 
 (c) No Conflict. The
execution and delivery of this Agreement by Stockholder does not, and the consummation of the transactions contemplated hereby and the compliance with the provisions hereof will not, conflict with or violate any Law applicable to Stockholder or
result in any breach of or violation of, or constitute a default (or an event that with notice or lapse of time or both would become a default) under, or give to others any rights of termination, amendment, acceleration, or cancellation of, or
result in the creation of any Lien on any of the Shares pursuant to, any agreement or other instrument or obligation including organizational documents binding upon Stockholder or any of the Shares. 

(d) No Consents. No consent, approval, Order, or authorization of, or registration, declaration, or filing with, any
Governmental Authority or any other Person on the part of Stockholder is required in connection with the valid execution and delivery of this Agreement. 

(e) No Litigation. There is no action, suit, investigation, or proceeding (whether judicial, arbitral, administrative,
or other) (each an “Action”) pending against, or, to the knowledge of Stockholder, threatened against or affecting, Stockholder that could reasonably be expected to materially impair or materially adversely affect the ability of
Stockholder to perform Stockholder’s obligations hereunder or to consummate the transactions contemplated by this Agreement on a timely basis. 
 3.
AGREEMENT TO VOTE SHARES; IRREVOCABLE PROXY. 
 (a) Agreement to Vote and Approve. Stockholder irrevocably and
unconditionally agrees during the term of this Agreement, at any annual or special meeting of REIT I called with respect to the following matters, and at every adjournment or postponement thereof, and on every action or approval by written consent
or consents of the REIT I stockholders with respect to any of the following matters, to vote or cause the holder of record to vote the Shares in favor of (1) the Merger Agreement and the Merger and the other transactions contemplated by the
Merger Agreement, and (2) any proposal to adjourn or postpone such meeting of stockholders of REIT I to a later date if there are not sufficient votes to approve the Merger. 

  
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 (b) Irrevocable Proxy. Stockholder hereby appoints REIT II and any
designee of REIT II, and each of them individually, until the Expiration Time (at which time this proxy shall automatically be revoked), its proxies and
attorneys-in-fact, with full power of substitution and resubstitution, to vote or act by written consent during the term of this Agreement with respect to the Shares in
accordance with Section 3(a). This proxy and power of attorney is given to secure the performance of the duties of Stockholder under this Agreement. Stockholder shall take such further action or execute such other instruments as may be
necessary to effectuate the intent of this proxy. This proxy and power of attorney granted by Stockholder shall be irrevocable during the term of this Agreement, shall be deemed to be coupled with an interest sufficient in law to support an
irrevocable proxy, and shall revoke any and all prior proxies granted by Stockholder with respect to the Shares. The power of attorney granted by Stockholder herein is a durable power of attorney and shall survive the bankruptcy, winding up or
dissolution of Stockholder. The proxy and power of attorney granted hereunder shall terminate upon the termination of this Agreement. 
 4. NO VOTING TRUSTS
OR OTHER ARRANGEMENT. 
 Stockholder agrees that during the term of this Agreement Stockholder will not, and will not permit
any entity under Stockholder’s control to, deposit any of the Shares in a voting trust, grant any proxies with respect to the Shares, or subject any of the Shares to any arrangement with respect to the voting of the Shares other than agreements
entered into with REIT II. 
 5. TRANSFER AND ENCUMBRANCE. 

Stockholder agrees that during the term of this Agreement, Stockholder will not, directly or indirectly, transfer, sell, offer,
exchange, assign, pledge, convey any legal or Beneficial Ownership interest in or otherwise dispose of (by merger (including by conversion into securities or other consideration), by tendering into any tender or exchange offer, by operation of Law,
or otherwise), or encumber (“Transfer”) any of the Shares or enter into any contract, option, or other agreement with respect to, or consent to, a Transfer of, any of the Shares or Stockholder’s voting or economic interest therein.
Any attempted Transfer of Shares or any interest therein in violation of this Section 5 shall be null and void. This Section 5 shall not prohibit a Transfer of the Shares by Stockholder to an Affiliate of Stockholder; provided, that a
Transfer referred to in this sentence shall be permitted only if, as a precondition to such Transfer, the transferee agrees in a writing, reasonably satisfactory in form and substance to REIT II, to be bound by all of the terms of this Agreement.

 6. ADDITIONAL SHARES. 

Stockholder agrees that all shares of REIT I Convertible Stock that Stockholder purchases, acquires the right to vote, or
otherwise acquires Beneficial Ownership of after the execution of this Agreement and prior to the Expiration Time shall be subject to the terms and conditions of this Agreement and shall constitute Shares for all purposes of this Agreement. In the
event of any stock split, stock dividend, merger, reorganization, recapitalization, reclassification, combination, exchange of shares, or the like of the capital stock of REIT I affecting the Shares, the terms of this Agreement shall apply to the
resulting securities and such resulting securities shall be deemed to be “Shares” for all purposes of this Agreement. 

  
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 7. TERMINATION. 

This Agreement shall terminate upon the earliest to occur of (the “Expiration Time”): (a) the REIT Merger Effective
Time; (b) the date on which the Merger Agreement is terminated in accordance with its terms; and (c) the termination of this Agreement by mutual written consent of the Parties. Nothing in this Section 7 shall relieve or otherwise
limit the liability of any Party for any intentional breach of this Agreement prior to such termination. 
 8. NO SOLICITATION. 

Stockholder shall not, and shall cause its Subsidiaries not to, and shall use it reasonable best efforts to cause its
Affiliates and Representatives not to, take any action that would be in violation of Section 7.3 of the Merger Agreement if such action were taken by REIT I or a Representative thereof. 

9. FURTHER ASSURANCES. 

Stockholder agrees, from time to time, and without additional consideration, to execute and deliver such additional proxies,
documents, and other instruments and to take all such further action as REIT II may reasonably request to consummate and make effective the transactions contemplated by this Agreement. 

10. STOP TRANSFER INSTRUCTIONS. 

At all times commencing with the execution and delivery of this Agreement and continuing until the Expiration Time, in
furtherance of this Agreement, Stockholder hereby authorizes REIT I or its counsel to notify REIT I’s transfer agent that there is a stop transfer order with respect to all of the Shares (and that this Agreement places limits on the voting and
transfer of the Shares), subject to the provisions hereof and provided that any such stop transfer order and notice will immediately be withdrawn and terminated by REIT I following the Expiration Time. 

11. SPECIFIC PERFORMANCE. 
 Each
Party hereto acknowledges that it will be impossible to measure in money the damage to the other Party if a Party hereto fails to comply with any of the obligations imposed by this Agreement, that every such obligation is material and that, in the
event of any such failure, the other Party will not have an adequate remedy at Law or damages. Accordingly, each Party hereto agrees that injunctive relief or other equitable remedy, in addition to remedies at Law or damages, is the appropriate
remedy for any such failure and will not oppose the seeking of such relief on the basis that the other Party has an adequate remedy at Law. Each Party hereto agrees that it will not seek, and agrees to waive any requirement for, the securing or
posting of a bond in connection with the other Party’s seeking or obtaining such equitable relief. 

  
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 12. ENTIRE AGREEMENT. 

This Agreement supersedes all prior agreements, written or oral, between the Parties hereto with respect to the subject matter
hereof and contains the entire agreement between the Parties with respect to the subject matter hereof. This Agreement may not be amended or supplemented, and no provisions hereof may be modified or waived, except by an instrument in writing signed
by both of the Parties hereto. No waiver of any provisions hereof by either Party shall be deemed a waiver of any other provisions hereof by such Party, nor shall any such waiver be deemed a continuing waiver of any provision hereof by such
Party.
 13. NOTICES. 
 All
notices, requests, consents, claims, demands, waivers and other communications hereunder shall be in writing and shall be deemed to have been given: (a) when delivered by hand (with written confirmation of receipt); (b) when received by the
addressee if sent by a nationally recognized overnight courier (receipt requested); (c) on the date sent by facsimile or email of a PDF document (with confirmation of transmission) if sent during normal business hours of the recipient, and on the
next Business Day if sent after normal business hours of the recipient; or (d) on the third day after the date mailed, by certified or registered mail, return receipt requested, postage prepaid. Such communications must be sent to the
respective Parties at the following addresses (or at such other address for a Party as shall be specified in a notice given in accordance with this Section 13): 

If to REIT II: 
 The Special
Committee of the Board of Directors 
 Resource Real Estate Opportunity REIT II, Inc. 

1845 Walnut Street, 17th Fl, Philadelphia, PA 19103 

Attn: Gary Lichtenstein, Chair 

Email: gslick180@aol.com 
 with
copies (which shall not constitute notice) to: 
 Morrison and Foerster, LLP 

3500 Lenox Road, N.E., Suite 1500 

Atlanta, GA 30326 
 Attn: Heath D.
Linsky 
 Email: hlinsky@mofo.com 

DLA Piper LLP (US) 
 4141 Parklake
Ave., Suite 300 
 Raleigh, NC 27612 

Attn: Robert H. Bergdolt 
 Email:
robert.bergdolt@us.dlapiper.com 

  
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 If to Stockholder: 

[NAME] 
 [MAILING ADDRESS] 

Attention: [NAME] 
 Fax: [NUMBER]

 Email: [EMAIL ADDRESS] 
 Copy
to: 
 [COUNSEL’S NAME] 

[MAILING ADDRESS] 
 Attention:
[NAME] 
 Fax: [NUMBER] 
 Email:
[EMAIL ADDRESS] 
 14. Miscellaneous. 

(a) Governing Law. This Agreement, and all claims or causes of actions (whether at Law, in contract or in tort) that may
be based upon, arise out of or related to this Agreement or the negotiation, execution or performance of this Agreement, shall be governed by, and construed in accordance with, the laws of the State of Maryland without giving effect to its conflicts
of laws principles (whether the State of Maryland or any other jurisdiction that would cause the application of the Laws of any jurisdiction other than the State of Maryland). 

(b) Submission to Jurisdiction. All disputes arising out of or relating to this Agreement shall be heard and determined
exclusively in any Maryland state or federal court. Each of the Parties hereby irrevocably and unconditionally (i) submits to the exclusive jurisdiction of any such Maryland state or federal court, for the purpose of any dispute arising out of
or relating to this Agreement brought by any Party, (ii) agrees not to commence any such dispute except in such courts, (iii) agrees that any claim in respect of any such dispute may be heard and determined in any such Maryland state or
federal court, (iv) waives, to the fullest extent it may legally and effectively do so, any objection which it may now or hereafter have to the laying of venue of any such dispute, (v) waives, to the fullest extent permitted by Law, the
defense of an inconvenient forum to the maintenance of such dispute and (vi) agrees, with respect to any Action filed in a Maryland state court, to jointly request an assignment to the Maryland Business and Technology Case Management Program.
Each of the Parties agrees that a final judgment in any such dispute shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by Law. Each Party irrevocably consents to service of process
in the manner provided for notices in this Section 13 of this Agreement. Nothing in this Agreement will affect the right of any Party to serve process in any other manner permitted by Law. 

  
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 (c) Waiver of Jury Trial. EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY
CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES AND, THEREFORE, EACH SUCH PARTY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY DISPUTE ARISING
OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT. EACH PARTY TO THIS AGREEMENT CERTIFIES AND ACKNOWLEDGES THAT: (A) NO REPRESENTATIVE OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH
OTHER PARTY WOULD NOT SEEK TO ENFORCE THE FOREGOING WAIVER IN THE EVENT OF A DISPUTE; (B) SUCH PARTY HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER; (C) SUCH PARTY MAKES THIS WAIVER VOLUNTARILY; AND (D) SUCH PARTY HAS BEEN INDUCED TO
ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 14(C). 
 (d)
Expenses. All costs and expenses incurred in connection with this Agreement shall be paid by the Party incurring such cost or expense, whether or not the Merger is consummated. 

(e) Severability. If any term or provision of this Agreement is invalid, illegal, or unenforceable in any jurisdiction,
such invalidity, illegality, or unenforceability shall not affect any other term or provision of this Agreement or invalidate or render unenforceable such term or provision in any other jurisdiction. Upon such determination that any term or other
provision is invalid, illegal, or unenforceable, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in a mutually acceptable manner in order that the
transactions contemplated hereby be consummated as originally contemplated to the greatest extent possible. 
 (f)
Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original but all of which together shall constitute one and the same instrument. 

(g) Section Headings. All section headings herein are for convenience of reference only and are not part of this
Agreement, and no construction or reference shall be derived therefrom. 
 (h) Assignment. Neither Party to this
Agreement may assign any of its rights or obligations under this Agreement without the prior written consent of the other Party hereto, except that REIT II may assign, in its sole discretion, all or any of its rights, interests and obligations
hereunder to any of its Affiliates. Subject to the preceding sentence, this Agreement will be binding upon, inure to the benefit of and be enforceable by the Parties and their respective permitted successors and assigns. Any assignment contrary to
the provisions of this Section 14(h) shall be null and void. 
 (i) No Third-Party Beneficiaries. Nothing in this
Agreement, express or implied, is intended to or shall confer upon any Person other than the Parties and their respective successors and permitted assigns any legal or equitable right, benefit, or remedy of any nature under or by reason of this
Agreement. 
 [Signature Page Follows] 

  
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 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date and year
first above written. 
  

			
	RESOURCE REAL ESTATE OPPORTUNITY REIT II, INC., a Maryland corporation
		
	By:	 	 /s/ Shelle Weisbaum

		 	Shelle Weisbaum
		 	Chief Legal Officer
	
	RESOURCE REAL ESTATE, LLC, a Delaware limited liability company
		
	By:	 	 /s/ Alan F. Feldman

		 	Alan F. Feldman
		 	Chief Executive Officer

 [Signature page to Voting Agreement – REIT II and RRE] 

  
 9EX-10.2

 Exhibit 10.2 

VOTING AGREEMENT 

between 
 RESOURCE REAL
ESTATE OPPORTUNITY REIT II, INC. 
 and 

ALAN F. FELDMAN 

 VOTING AGREEMENT 

THIS VOTING AGREEMENT (this “Agreement”), dated as of September 8, 2020, is between Alan F. Feldman (“Stockholder”)
and Resource Real Estate Opportunity REIT II, Inc., a Maryland corporation (“REIT II”). REIT II and the Stockholder are each sometimes referred to herein individually as a “Party” and collectively as the “Parties.” 

W I T N E S S E T H 

WHEREAS, concurrently with the execution of this Agreement, Resource Real Estate Opportunity REIT, Inc., a Maryland corporation (“REIT
I”), REIT II and Revolution I Merger Sub, LLC, a Maryland limited liability company and wholly owned subsidiary of REIT II (“Merger Sub”), are entering into an Agreement and Plan of Merger (as the same may be amended from time to
time, the “Merger Agreement”), providing for, among other things, the merger (the “Merger”) of REIT I with and into Merger Sub pursuant to the terms and conditions of the Merger Agreement; 

WHEREAS, in order to induce REIT II to enter into the Merger Agreement, Stockholder is willing to make certain representations, warranties,
covenants, and agreements as set forth in this Agreement with respect to the 4,404 shares of convertible stock, $0.01 par value per share (“Convertible Stock”) of REIT I Beneficially Owned by Stockholder (the “Original Shares”
and, together with any additional shares of REIT I Convertible Stock pursuant to Section 6 hereof, the “Shares”); and 

WHEREAS, as a condition to its willingness to enter into the Merger Agreement, REIT II has required that Stockholder, and Stockholder has
agreed to, execute and deliver this Agreement. 
 NOW, THEREFORE, in consideration of the foregoing and the respective representations,
warranties, covenants, and agreements set forth below and for other good and valuable consideration, the receipt, sufficiency, and adequacy of which are hereby acknowledged, the Parties hereto, intending to be legally bound, do hereby agree as
follows: 
 1. DEFINITIONS. 
 For purposes of
this Agreement, capitalized terms used and not otherwise defined herein shall have the respective meanings ascribed to such terms in the Merger Agreement. When used in this Agreement, the following terms in all of their tenses, cases, and
correlative forms shall have the meanings assigned to them in this Section 1. 
 “Action” shall have the meaning given in
Section 2 of this Agreement. 

  
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 “Agreement” shall have the meaning given in the preamble to this Agreement. 

“Beneficially Own” or “Beneficial Ownership” has the meaning assigned to such term in Rule
13d-3 under the Exchange Act, and a Person’s beneficial ownership of securities shall be calculated in accordance with the provisions of such rule (in each case, irrespective of whether or not such rule
is actually applicable in such circumstance). For the avoidance of doubt, “Beneficially Own” and “Beneficial Ownership” shall also include record ownership of securities. 

“Beneficial Owner” shall mean the Person who Beneficially Owns the referenced securities. 

“Convertible Stock” shall have the meaning given in the preamble to this Agreement. 

“Expiration Time” shall have the meaning given in Section 7 of this Agreement. 

“Merger” shall have the meaning given in the preamble to this Agreement. 

“Merger Agreement” shall have the meaning given in the preamble to this Agreement. 

“Merger Sub” shall have the meaning given in the preamble to this Agreement. 

“Original Shares” shall have the meaning given in the preamble to this Agreement. 

“Party” or “Parties” shall have the meaning given in the preamble to this Agreement. 

“REIT I” shall have the meaning given in the preamble to this Agreement. 

“REIT II” shall have the meaning given in the preamble to this Agreement. 

“Shares” shall have the meaning given in the preamble to this Agreement. 

“Stockholder” shall have the meaning given in the preamble to this Agreement. 

“Transfer” shall have the meaning given in Section 5 of this Agreement. 

2. REPRESENTATIONS OF STOCKHOLDER. 
 Stockholder
represents and warrants to REIT II that: 
 (a) Ownership of Shares. Stockholder: (i) is the Beneficial Owner of
all of the Original Shares free and clear of any proxy, voting restriction, adverse claim, or other Liens, other than those created by this Agreement or under applicable federal or state securities laws; and (ii) has the sole voting power over
all of the Original Shares. Except pursuant to this Agreement, there are no options, warrants, or other rights, agreements, arrangements, or commitments of any character to which Stockholder is a party relating to the pledge, disposition, or voting
of any of the Original Shares and there are no voting trusts or voting agreements with respect to the Original Shares. 

  
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 (b) Power and Authority; Binding Agreement. Stockholder has full
power, authority and legal capacity to enter into, execute, and deliver this Agreement and to perform fully Stockholder’s obligations hereunder (including the proxy described in Section 3(b) below)). This Agreement has been duly and
validly executed and delivered by Stockholder and constitutes the legal, valid, and binding obligation of Stockholder, enforceable against Stockholder in accordance with its terms except as may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium or other similar Laws affecting creditors’ rights generally. 
 (c) No Conflict. The
execution and delivery of this Agreement by Stockholder does not, and the consummation of the transactions contemplated hereby and the compliance with the provisions hereof will not, conflict with or violate any Law applicable to Stockholder or
result in any breach of or violation of, or constitute a default (or an event that with notice or lapse of time or both would become a default) under, or give to others any rights of termination, amendment, acceleration, or cancellation of, or
result in the creation of any Lien on any of the Shares pursuant to, any agreement or other instrument or obligation binding upon Stockholder or any of the Shares. 

(d) No Consents. No consent, approval, Order, or authorization of, or registration, declaration, or filing with, any
Governmental Authority or any other Person on the part of Stockholder is required in connection with the valid execution and delivery of this Agreement. No consent of Stockholder’s spouse is necessary under any “community property” or
other laws in order for Stockholder to enter into and perform its obligations under this Agreement. 
 (e) No
Litigation. There is no action, suit, investigation, or proceeding (whether judicial, arbitral, administrative, or other) (each an “Action”) pending against, or, to the knowledge of Stockholder, threatened against or affecting,
Stockholder that could reasonably be expected to materially impair or materially adversely affect the ability of Stockholder to perform Stockholder’s obligations hereunder or to consummate the transactions contemplated by this Agreement on a
timely basis. 
 3. AGREEMENT TO VOTE SHARES; IRREVOCABLE PROXY. 

(a) Agreement to Vote and Approve. Stockholder irrevocably and unconditionally agrees during the term of this Agreement,
at any annual or special meeting of REIT I called with respect to the following matters, and at every adjournment or postponement thereof, and on every action or approval by written consent or consents of the REIT I stockholders with respect to any
of the following matters, to vote or cause the holder of record to vote the Shares in favor of (1) the Merger Agreement and the Merger and the other transactions contemplated by the Merger Agreement, and (2) any proposal to adjourn or
postpone such meeting of stockholders of REIT I to a later date if there are not sufficient votes to approve the Merger. 

  
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 (b) Irrevocable Proxy. Stockholder hereby appoints REIT II and any
designee of REIT II, and each of them individually, until the Expiration Time (at which time this proxy shall automatically be revoked), its proxies and
attorneys-in-fact, with full power of substitution and resubstitution, to vote or act by written consent during the term of this Agreement with respect to the Shares in
accordance with Section 3(a). This proxy and power of attorney is given to secure the performance of the duties of Stockholder under this Agreement. Stockholder shall take such further action or execute such other instruments as may be
necessary to effectuate the intent of this proxy. This proxy and power of attorney granted by Stockholder shall be irrevocable during the term of this Agreement, shall be deemed to be coupled with an interest sufficient in law to support an
irrevocable proxy, and shall revoke any and all prior proxies granted by Stockholder with respect to the Shares. The power of attorney granted by Stockholder herein is a durable power of attorney and shall survive the bankruptcy, death, or
incapacity of Stockholder. The proxy and power of attorney granted hereunder shall terminate upon the termination of this Agreement. 
 4. NO VOTING TRUSTS
OR OTHER ARRANGEMENT. 
 Stockholder agrees that during the term of this Agreement Stockholder will not, and will not permit
any entity under Stockholder’s control to, deposit any of the Shares in a voting trust, grant any proxies with respect to the Shares, or subject any of the Shares to any arrangement with respect to the voting of the Shares other than agreements
entered into with REIT II. 
 5. TRANSFER AND ENCUMBRANCE. 

Stockholder agrees that during the term of this Agreement, Stockholder will not, directly or indirectly, transfer, sell, offer,
exchange, assign, pledge, convey any legal or Beneficial Ownership interest in or otherwise dispose of (by merger (including by conversion into securities or other consideration), by tendering into any tender or exchange offer, by testamentary
disposition, by operation of Law, or otherwise), or encumber (“Transfer”) any of the Shares or enter into any contract, option, or other agreement with respect to, or consent to, a Transfer of, any of the Shares or Stockholder’s
voting or economic interest therein. Any attempted Transfer of Shares or any interest therein in violation of this Section 5 shall be null and void. This Section 5 shall not prohibit a Transfer of the Shares by Stockholder to any member of
Stockholder’s immediate family, or to a trust for the benefit of Stockholder or any member of Stockholder’s immediate family, or upon the death of Stockholder; provided, that a Transfer referred to in this sentence shall be permitted only
if, as a precondition to such Transfer, the transferee agrees in a writing, reasonably satisfactory in form and substance to REIT II, to be bound by all of the terms of this Agreement. 

6. ADDITIONAL SHARES. 

Stockholder agrees that all shares of REIT I Convertible Stock that Stockholder purchases, acquires the right to vote, or
otherwise acquires Beneficial Ownership of after the execution of this Agreement and prior to the Expiration Time shall be subject to the terms and conditions of this Agreement and shall constitute Shares for all purposes of this Agreement. In the
event of any stock split, stock dividend, merger, reorganization, recapitalization, reclassification, combination, exchange of shares, or the like of the capital stock of REIT I affecting the Shares, the terms of this Agreement shall apply to the
resulting securities and such resulting securities shall be deemed to be “Shares” for all purposes of this Agreement. 

  
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 7. TERMINATION. 

This Agreement shall terminate upon the earliest to occur of (the “Expiration Time”): (a) the REIT Merger Effective
Time; (b) the date on which the Merger Agreement is terminated in accordance with its terms; and (c) the termination of this Agreement by mutual written consent of the Parties. Nothing in this Section 7 shall relieve or otherwise
limit the liability of any Party for any intentional breach of this Agreement prior to such termination. 
 8. NO SOLICITATION. 

Stockholder shall not, and shall use it reasonable best efforts to cause its Affiliates and Representatives not to, take any
action that would be in violation of Section 7.3 of the Merger Agreement if such action were taken by REIT I or a Representative thereof. 
 9. NO
AGREEMENT AS DIRECTOR OR OFFICER. 
 Stockholder makes no agreement or understanding in this Agreement in Stockholder’s
capacity as a director or officer of REIT I or any of its subsidiaries (if Stockholder holds such office), and nothing in this Agreement: (a) will limit or affect any actions or omissions taken by Stockholder in stockholder’s capacity as
such a director or officer, including in exercising rights under the Merger Agreement, and no such actions or omissions shall be deemed a breach of this Agreement; or (b) will be construed to prohibit, limit, or restrict Stockholder from
exercising Stockholder’s fiduciary duties as an officer or director to REIT I or its stockholders. 
 10. FURTHER ASSURANCES. 

Stockholder agrees, from time to time, and without additional consideration, to execute and deliver such additional proxies,
documents, and other instruments and to take all such further action as REIT II may reasonably request to consummate and make effective the transactions contemplated by this Agreement. 

11. STOP TRANSFER INSTRUCTIONS. 

At all times commencing with the execution and delivery of this Agreement and continuing until the Expiration Time, in
furtherance of this Agreement, Stockholder hereby authorizes REIT I or its counsel to notify REIT I’s transfer agent that there is a stop transfer order with respect to all of the Shares (and that this Agreement places limits on the voting and
transfer of the Shares), subject to the provisions hereof and provided that any such stop transfer order and notice will immediately be withdrawn and terminated by REIT I following the Expiration Time. 

  
 5 

 12. SPECIFIC PERFORMANCE. 

Each Party hereto acknowledges that it will be impossible to measure in money the damage to the other Party if a Party hereto
fails to comply with any of the obligations imposed by this Agreement, that every such obligation is material and that, in the event of any such failure, the other Party will not have an adequate remedy at Law or damages. Accordingly, each Party
hereto agrees that injunctive relief or other equitable remedy, in addition to remedies at Law or damages, is the appropriate remedy for any such failure and will not oppose the seeking of such relief on the basis that the other Party has an
adequate remedy at Law. Each Party hereto agrees that it will not seek, and agrees to waive any requirement for, the securing or posting of a bond in connection with the other Party’s seeking or obtaining such equitable relief. 

13. ENTIRE AGREEMENT. 
 This
Agreement supersedes all prior agreements, written or oral, between the Parties hereto with respect to the subject matter hereof and contains the entire agreement between the Parties with respect to the subject matter hereof. This Agreement may not
be amended or supplemented, and no provisions hereof may be modified or waived, except by an instrument in writing signed by both of the Parties hereto. No waiver of any provisions hereof by either Party shall be deemed a waiver of any other
provisions hereof by such Party, nor shall any such waiver be deemed a continuing waiver of any provision hereof by such Party.
 14. NOTICES. 

All notices, requests, consents, claims, demands, waivers and other communications hereunder shall be in writing and shall be
deemed to have been given: (a) when delivered by hand (with written confirmation of receipt); (b) when received by the addressee if sent by a nationally recognized overnight courier (receipt requested); (c) on the date sent by facsimile or
email of a PDF document (with confirmation of transmission) if sent during normal business hours of the recipient, and on the next Business Day if sent after normal business hours of the recipient; or (d) on the third day after the date mailed,
by certified or registered mail, return receipt requested, postage prepaid. Such communications must be sent to the respective Parties at the following addresses (or at such other address for a Party as shall be specified in a notice given in
accordance with this Section 14): 
 If to REIT II: 

The Special Committee of the Board of Directors 

Resource Real Estate Opportunity REIT II, Inc. 

1845 Walnut Street, 17th Fl, Philadelphia, PA 19103 

Attn: Gary Lichtenstein, Chair 

Email: gslick180@aol.com 

  
 6 

 with copies (which shall not constitute notice) to: 

Morrison and Foerster, LLP 
 3500
Lenox Road, N.E., Suite 1500 
 Atlanta, GA 30326 

Attn: Heath D. Linsky 
 Email:
hlinsky@mofo.com 
 DLA Piper LLP (US) 

4141 Parklake Ave., Suite 300 

Raleigh, NC 27612 
 Attn: Robert
H. Bergdolt 
 Email: robert.bergdolt@us.dlapiper.com 

If to Stockholder: 
 [NAME] 

[MAILING ADDRESS] 
 Attention:
[NAME] 
 Fax: [NUMBER] 
 Email:
[EMAIL ADDRESS] 
 Copy to: 

[COUNSEL’S NAME] 
 [MAILING
ADDRESS] 
 Attention: [NAME] 

Fax: [NUMBER] 
 Email: [EMAIL
ADDRESS] 
 15. Miscellaneous. 

(a) Governing Law. This Agreement, and all claims or causes of actions (whether at Law, in contract or in tort) that may
be based upon, arise out of or related to this Agreement or the negotiation, execution or performance of this Agreement, shall be governed by, and construed in accordance with, the laws of the State of Maryland without giving effect to its conflicts
of laws principles (whether the State of Maryland or any other jurisdiction that would cause the application of the Laws of any jurisdiction other than the State of Maryland). 

(b) Submission to Jurisdiction. All disputes arising out of or relating to this Agreement shall be heard and determined
exclusively in any Maryland state or federal court. Each of the Parties hereby irrevocably and unconditionally (i) submits to the exclusive jurisdiction of any such Maryland state or federal court, for the purpose of any dispute arising out of
or relating to this Agreement brought by any Party, (ii) agrees not to commence any such dispute except in such courts, (iii) agrees that any claim in respect of any such dispute may be heard and determined in any such Maryland state or
federal 

  
 7 

 
court, (iv) waives, to the fullest extent it may legally and effectively do so, any objection which it may now or hereafter have to the laying of venue of any such dispute, (v) waives,
to the fullest extent permitted by Law, the defense of an inconvenient forum to the maintenance of such dispute and (vi) agrees, with respect to any Action filed in a Maryland state court, to jointly request an assignment to the Maryland
Business and Technology Case Management Program. Each of the Parties agrees that a final judgment in any such dispute shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by Law. Each
Party irrevocably consents to service of process in the manner provided for notices in this Section 14 of this Agreement. Nothing in this Agreement will affect the right of any Party to serve process in any other manner permitted by Law. 

(c) Waiver of Jury Trial. EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT
IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES AND, THEREFORE, EACH SUCH PARTY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY DISPUTE ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE
TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT. EACH PARTY TO THIS AGREEMENT CERTIFIES AND ACKNOWLEDGES THAT: (A) NO REPRESENTATIVE OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT SEEK TO ENFORCE THE
FOREGOING WAIVER IN THE EVENT OF A DISPUTE; (B) SUCH PARTY HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER; (C) SUCH PARTY MAKES THIS WAIVER VOLUNTARILY; AND (D) SUCH PARTY HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER
THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 15(C). 
 (d) Expenses. All costs and expenses incurred
in connection with this Agreement shall be paid by the Party incurring such cost or expense, whether or not the Merger is consummated. 

(e) Severability. If any term or provision of this Agreement is invalid, illegal, or unenforceable in any jurisdiction,
such invalidity, illegality, or unenforceability shall not affect any other term or provision of this Agreement or invalidate or render unenforceable such term or provision in any other jurisdiction. Upon such determination that any term or other
provision is invalid, illegal, or unenforceable, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in a mutually acceptable manner in order that the
transactions contemplated hereby be consummated as originally contemplated to the greatest extent possible. 
 (f)
Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original but all of which together shall constitute one and the same instrument. 

  
 8 

 (g) Section Headings. All section headings herein are for convenience
of reference only and are not part of this Agreement, and no construction or reference shall be derived therefrom. 
 (h)
Assignment. Neither Party to this Agreement may assign any of its rights or obligations under this Agreement without the prior written consent of the other Party hereto, except that REIT II may assign, in its sole discretion, all or any of
its rights, interests and obligations hereunder to any of its Affiliates. Subject to the preceding sentence, this Agreement will be binding upon, inure to the benefit of and be enforceable by the Parties and their respective permitted successors and
assigns. Any assignment contrary to the provisions of this Section 15(h) shall be null and void. 
 (i) No
Third-Party Beneficiaries. Nothing in this Agreement, express or implied, is intended to or shall confer upon any Person other than the Parties and their respective successors and permitted assigns any legal or equitable right, benefit, or
remedy of any nature under or by reason of this Agreement. 
 [Signature Page Follows] 

  
 9 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date and year
first above written. 
  

			
	RESOURCE REAL ESTATE OPPORTUNITY REIT II, INC., a Maryland corporation
		
	By:	 	 /s/ Shelle Weisbaum

		 	Shelle Weisbaum
		 	Chief Legal Officer
	
	ALAN F. FELDMAN
	
	 /s/ Alan F. Feldman

 [Signature page to Voting Agreement – REIT II and Feldman] 

  
 10

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