Document:

EX-10.2

 Exhibit 10.2 

AMENDMENT NO. 2 

TO 
 AMENDED AND
RESTATED ADVISORY AGREEMENT 
 This Amendment No. 2 (this “Amendment”) to Amended and Restated Advisory Agreement
dated as of May 1, 2018, as amended (the “Advisory Agreement”), is effective as of July 10, 2019, by and among Strategic Student & Senior Housing Trust, Inc., a Maryland corporation (the “Company”), SSSHT Operating
Partnership, L.P., a Delaware limited partnership (the “Operating Partnership”) and SSSHT Advisor, LLC, a Delaware limited liability company (the “Advisor”). 

W I T N E S S E T H 

WHEREAS, the Company, the Operating Partnership, and the Advisor are parties to the Advisory Agreement. 

WHEREAS, the Company has been offering (the “Offering”) shares of Class A, Class T, and Class W common stock pursuant
to a Registration Statement on Form S-11 filed with the Securities and Exchange Commission (SEC File No. 333-220646). 

WHEREAS, the Company desires to cease selling shares of Class A, Class T, and Class W common stock in the primary portion of
the Offering and begin offering shares of Class Y and Class Z common stock pursuant to the Offering. 
 WHEREAS, concurrently with
the execution of this Amendment, the parties are also entering into an Advisor Funding Agreement pursuant to which the Advisor is agreeing to fund the payment of all upfront sales commissions, dealer manager fees, and organization and offering
expenses in connection with the sales of shares of Class Y and Class Z common stock in the Offering. 
 WHEREAS, the Company, the
Operating Partnership, and the Advisor have determined that it is advisable to enter into this Amendment to provide for the payment of a new contingent acquisition fee and disposition fee and to clarify provisions related to certain expenses
incurred by the Company and Advisor and reimbursements from the Advisor. 
 NOW, THEREFORE, for and in consideration of the premises and the
mutual covenants contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the undersigned, intending to be legally bound, agree as follows: 

 

	 	1.	 The term “Capped O&O Expenses” defined in Article I of the Advisory Agreement is hereby deleted
in its entirety. 

  

	 	2.	 The following are added as defined terms in Article I of the Advisory Agreement, each in its respective
alphabetical order: 

 “Competitive Real Estate Commission” means a real estate or brokerage commission paid
(or, if no commission is paid, the amount that customarily would be paid) for the purchase or sale of a Property that is reasonable, customary and competitive in light of the size, type and location of the Property. 

“Contingent Acquisition Fee” shall have the meaning set forth in Section 9.1. 

“Contract Sales Price” means the total consideration provided for in the sales contract for the Sale of a Property. 

 “Disposition Fee” means the fee paid to the Advisor in connection with the Sale of
a property as described in Section 9.5 of this Advisory Agreement. 
 “Extraordinary Transaction” means, whether in one or a
series of transactions, the transfer or other disposition, directly or indirectly, of all or substantially all of the business or securities of the Company, whether by way of a merger or consolidation, reorganization, recapitalization or
restructuring, tender or exchange offer, negotiated purchase, leveraged buyout or otherwise, or any other extraordinary corporate transaction involving the Company, excluding a Sale. 

“Invested Capital” means the amount calculated by multiplying the total number of shares of Common Stock purchased by Stockholders
by (a) the offering price for the Stock paid by such Stockholders in an Offering or (b) for Stock not purchased in an Offering, the issue price for the Stock; in each case reduced by any Distributions attributable to net sale proceeds from
the sale of assets by the Operating Partnership, any stockholder servicing fee attributable to shares of the Class T and Class Y Common Stock, any dealer manager servicing fee attributable to shares of the Class W and Class Z
Common Stock, and any amounts paid by the Company to repurchase shares of Stock pursuant to a plan for repurchase of the Company’s Stock. 

“Listing” means the approval of the Common Stock, issued by the Company pursuant to an effective registration statement, on any
National Securities Exchange. Upon Listing, the Common Stock shall be deemed “Listed.” 
 “Market Value” shall have the
meaning set forth in Section 9.1. 
 “National Securities Exchange” means any securities exchange registered with the SEC
pursuant to Section 6 of the Securities Exchange Act of 1934, as amended. 
 “Sale” or “Sales” means any
transaction or series of transactions whereby: (a) the Operating Partnership sells, grants, transfers, conveys or relinquishes its ownership of any Property or portion thereof, including the lease of any Property consisting of the building
only, and including any event with respect to any Property which gives rise to a significant amount of insurance proceeds or condemnation awards; (b) the Operating Partnership sells, grants, transfers, conveys or relinquishes its ownership of
all or substantially all of the interest of the Operating Partnership in any Joint Venture in which it is a co-venturer or partner; (c) any Joint Venture in which the Operating Partnership is a co-venturer or partner sells, grants, transfers,
conveys or relinquishes its ownership of any Property or portion thereof, including any event with respect to any Property which gives rise to insurance claims or condemnation awards; (d) the Operating Partnership sells, grants, conveys, or
relinquishes its interest in any asset, or portion thereof, including any event with respect to any asset which gives rise to a significant amount of insurance proceeds or similar awards; (e) the Operating Partnership sells or otherwise
disposes of or distributes all of its assets in liquidation of the Operating Partnership; or (f) all or substantially all of the business or securities of the Company are transferred or otherwise disposed of, directly or indirectly, whether by
way of a merger or consolidation, reorganization, recapitalization or restructuring, tender or exchange offer, negotiated purchase, leveraged buyout or otherwise, or any other extraordinary corporate transaction involving the Company. 

“Stockholders’ 6% Return” means, as of any date, an aggregate amount equal to a 6% cumulative,
non-compounded, annual return on Invested Capital; provided, however, that for purposes of calculating the Stockholders’ 6% Return, any non-taxable stock dividend
shall not be included as a Distribution; and provided further that for purposes of determining the Stockholders’ 6% Return, the return for each portion of the Invested Capital shall commence for purposes of the calculation upon the issuance of
the Stock issued in connection with such capital. 

 “Stockholders’ 13% Return” means, as of any date, an aggregate amount equal
to a 13% cumulative, non-compounded, annual return on Invested Capital; provided, however, that for purposes of calculating the Stockholders’ 13% Return, any
non-taxable stock dividend shall not be included as a Distribution; and provided further that for purposes of determining the Stockholders’ 13% Return, the return for each portion of the Invested Capital
shall commence for purposes of the calculation upon the issuance of the Stock issued in connection with such capital. 

“Subsidiary” means, with respect to any Person, any corporation or other entity of which a majority of (i) the voting power of
the voting equity securities or (ii) the outstanding equity interests is owned, directly or indirectly, by such Person. 

“Transaction Amount” means the aggregate value of all of the issued and outstanding Common Stock using a per share value equal to
the per share value paid to the Stockholders in an Extraordinary Transaction. 
  

	 	3.	 Section 9.1 of the Advisory Agreement is hereby deleted and replaced with the following:

 9.1 Contingent Acquisition Fee. 

(a)    After the Stockholders have received or are deemed to have received Distributions, including with respect to a
Listing or an Extraordinary Transaction as described in Subsections (c) and (d) below, in an aggregate amount equal to the sum of (i) the Stockholders’ 6% Return and (ii) Invested Capital, the Company shall pay the Advisor a
contingent acquisition fee (the “Contingent Acquisition Fee”) as follows. The Contingent Acquisition Fee will be equal to 1.0% of the Contract Purchase Price of each Property at the time and in respect of funds expended for the
acquisition, origination, development, construction, or improvement of a Property occurring on or after the date of this Amendment, inclusive of the Acquisition Expenses associated with such Property and the amount of any debt associated with, or
used to fund the investment in, such Property, plus significant (as determined in the sole discretion of the Advisor) capital expenditures related to the development, construction, or improvement of such Property. The purchase price allocable for a
Property held through a Joint Venture shall equal the product of (a) the Contract Purchase Price of the Property and (b) the direct or indirect ownership percentage in the Joint Venture held directly or indirectly by the Company or the
Operating Partnership. For purposes of this Section 9.1(a), “ownership percentage” shall be the percentage of capital stock, membership interests, partnership interests or other equity interests held by the Company or the Operating
Partnership, without regard to classification of such interests. 
 (b)    After the Stockholders have received or are
deemed to have received Distributions, including with respect to a Listing or an Extraordinary Transaction as described in Subsections (c) and (d) below, in an aggregate amount equal to the sum of (i) the Stockholders’ 13% Return and
(ii) Invested Capital, the Company shall pay the Advisor a Contingent Acquisition Fee as follows. The Contingent Acquisition Fee will be equal to an additional 2.0% of the Contract Purchase Price of each Property at the time and in respect of
funds expended for the acquisition, origination, development, construction, or improvement of a Property occurring on or after the date of this Amendment, inclusive of the Acquisition Expenses associated with such Property and the amount of any debt
associated with, or used to fund the investment in, such Property, plus significant (as determined in the sole discretion of the Advisor) capital expenditures related to the development, construction, or improvement of such Property. The purchase
price allocable for a Property held through a Joint Venture shall equal the product of (a) the Contract Purchase Price of the Property and (b) the direct or indirect ownership percentage in the Joint Venture held directly or indirectly by
the Company or the Operating Partnership. For purposes of this Section 9.1(b), “ownership percentage” shall be the percentage of capital stock, membership interests, partnership interests or other equity interests held by the Company
or the Operating Partnership, without regard to classification of such interests. 

 (c)    In the event of a Listing, Stockholders will be deemed to have
received Distributions sufficient to provide the required return if (i) the market value of the outstanding shares of Common Stock of the Company, measured by taking the average closing price or the average of the bid and asked price, as the
case may be, during a period of 30 trading days commencing after the first day of the 6th month, but no later than the last day of the 18th month following Listing, the commencement date of which shall be chosen by the Advisor in its sole discretion
(the “Market Value”), plus the total of all Distributions paid to Stockholders from the Company’s inception until the date that Market Value is determined, exceeds (ii) the sum of (A) Invested Capital and (B) the total
Distributions required to be paid to the Stockholders in order to pay the Stockholders’ 6% Return or the Stockholders’ 13% Return, as applicable, from inception through the date Market Value is determined. 

(d)    In the event of an Extraordinary Transaction, Stockholders will be deemed to have received Distributions sufficient
to provide the required return if (i) the Transaction Amount, plus the total of all Distributions paid to Stockholders from the Company’s inception until the date of the closing of the Extraordinary Transaction, plus all Distributions
declared prior to the Extraordinary Transaction but to be paid after the Extraordinary Transaction, exceeds (ii) the sum of (A) Invested Capital and (B) the total Distributions required to be paid to the Stockholders in order to pay
the Stockholders’ 6% Return or the Stockholders 13% Return, as applicable, from inception through the date of the closing of the Extraordinary Transaction. 

(e)    Contingent Acquisition Fees are payable upon satisfying each return threshold with respect to assets in the
portfolio at the time the return threshold is satisfied and at the closing of acquisitions following satisfaction of the return threshold. For the avoidance of doubt, in the event of an Extraordinary Transaction, the Contingent Acquisition fee will
be payable immediately prior to the closing of the Extraordinary Transaction if the return threshold would be satisfied upon closing of the Extraordinary Transaction. 

(f)    Upon the termination or non-renewal of this Agreement by the Company prior
to July 10, 2029 for any reason other than the Advisor’s fraud, willful misconduct, or gross negligence, as determined by a final, non-appealable judgement of a court of competent jurisdiction, the
Company shall pay the Advisor any Contingent Acquisition Fee that would otherwise be payable to the Advisor as of the termination date, regardless of whether the Stockholders have been paid the Stockholders’ 6% Return, the Stockholders’
13% Return, or Invested Capital, as follows. The Contingent Acquisition Fee will be equal to 3.0% of the Contract Purchase Price of each Property at the time and in respect of funds expended for the acquisition, origination, development,
construction, or improvement of a Property, inclusive of the Acquisition Expenses associated with such Property and the amount of any debt associated with, or used to fund the investment in, such Property, plus significant (as determined in the sole
discretion of the Advisor) capital expenditures related to the development, construction, or improvement of such Property. The purchase price allocable for a Property held through a Joint Venture shall equal the product of (a) the Contract
Purchase Price of the Property and (b) the direct or indirect ownership percentage in the Joint Venture held directly or indirectly by the Company or the Operating Partnership. For purposes of this Section 9.1(f), “ownership
percentage” shall be the percentage of capital stock, membership interests, partnership interests or other equity interests held by the Company or the Operating Partnership, without regard to classification of such interests. Any amounts
payable pursuant to this Subsection (f) will be reduced by any amounts previously paid to the Advisor under Subsections (a) and (b). 
  

	 	4.	 Section 10.1(a) of the Advisory Agreement is hereby deleted and replaced with the following:

 (a)    subject to Section 10.4, reimbursements for Organizational and Offering Expenses in
connection with an Offering; provided, however, that within 60 days after the end of the month in which an Offering terminates, the Advisor shall reimburse the Company to the extent Organizational and Offering Expenses borne by the Company
(including Sales Commissions, dealer manager fees, stockholder servicing fees, dealer manager servicing fees, and non-accountable due diligence expense allowance) exceed 15% of the Gross Proceeds raised in a
completed Offering; 

	 	5.	 A new Section 9.5 is hereby added to the Advisory Agreement, as follows: 

9.5    Disposition Fees. If the Advisor or an Affiliate provides a substantial amount of the services
(as determined by a majority of the Directors, including a majority of the Independent Directors) in connection with the Sale of one or more Properties, the Advisor or such Affiliate shall receive at closing a Disposition Fee in an amount equal to
the lesser of: (a) 1% of the Contract Sales Price or (b) 50% of the Competitive Real Estate Commission. Any Disposition Fee payable under this section 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 Company or the Operating Partnership for each Property shall not exceed an amount
equal to the lesser of (i) 6% of the aggregate Contract Sales Price of each Property or (ii) the Competitive Real Estate Commission for each Property. The Company or the Operating Partnership shall pay the Disposition Fee for a property at the
time the property is sold. 
  

	 	6.	 Section 10.1(n) of the Advisory Agreement is hereby deleted and replaced with the following:

 (n)    administrative service expenses, including all direct and indirect costs and expenses
incurred by Advisor in fulfilling its duties hereunder and including personnel costs; provided, however, that no reimbursement shall be made for costs of personnel to the extent that such personnel perform services in transactions for which the
Advisor receives the Contingent Acquisition Fee or Disposition Fee. Such direct and indirect costs and expenses may include reasonable wages and salaries and other employee-related expenses of all employees of Advisor or its Affiliates, including
the named executive officers of the Company, who are directly engaged in the operation, management, administration, investor relations and marketing of the Company, including taxes, insurance and benefits relating to such employees, and legal,
travel and other out-of-pocket expenses which are directly related to their services provided by Advisor pursuant to this Advisory Agreement; 

 

	 	7.	 Except as otherwise expressly provided herein, the terms, conditions, and provisions of the Advisory Agreement
shall remain unaltered and in full force and effect, and are ratified and confirmed by this reference. Capitalized terms used but not defined herein shall have the meanings set forth in the Advisory Agreement. 

 

	 	8.	 This Amendment shall be construed and interpreted in accordance with the laws of the State of California.

  

	 	9.	 This Amendment may be executed in counterparts, including by electronic means or facsimile, each of which shall
be deemed an original, and all of which together shall constitute a single instrument. 

 [signature page follows]

 IN WITNESS WHEREOF, the parties have executed this Amendment No. 2 to Amended and
Restated Advisory Agreement to be effective for all purposes as of the date first above written. 
  

							
	COMPANY:
	
	 Strategic Student & Senior Housing Trust, Inc.,

a Maryland corporation

		
	By:	 	 /s/ H. Michael Schwartz

		 	H. Michael Schwartz, Chief Executive Officer
	
	OPERATING PARTNERSHIP:
	
	 SSSHT Operating Partnership, L.P.,

a Delaware limited partnership

		
	By:	 	Strategic Student & Senior Housing Trust, Inc.,
		 	a Maryland corporation and its General Partner
			
		 	By:	 	 /s/ H. Michael Schwartz

		 		 	H. Michael Schwartz
		 		 	Chief Executive Officer
	
	ADVISOR:
	
	 SSSHT Advisor, LLC,
 a Delaware
limited liability company

		
	By:	 	 /s/ H. Michael Schwartz

		 	H. Michael Schwartz, Chief Executive Officer

 [Signature Page to Amendment No. 2 to SSSHT A&R Advisory Agreement]EX-10.4

 Exhibit 10.4 

ADVISOR FUNDING AGREEMENT 

This ADVISOR FUNDING AGREEMENT (this “Agreement”) is executed this 10th day of July, 2019 by and among Strategic Student &
Senior Housing Trust, Inc., a Maryland corporation (the “Company”), SSSHT Operating Partnership, L.P., a Delaware limited partnership (the “Operating Partnership”), SSSHT Advisor, LLC, a Delaware limited liability company (the
“Advisor”), and SmartStop Asset Management, LLC, a Delaware limited liability company (the “Sponsor”). 
 W I T N E S
S E T H 
 WHEREAS, the Company, the Operating Partnership, and the Advisor are parties to that certain Amended and Restated Advisory
Agreement dated May 1, 2018, as amended to date (the “Advisory Agreement”); 
 WHEREAS, the Company has been offering (the
“Offering”) shares of Class A, Class T and Class W common stock pursuant to a Registration Statement on Form S-11 (the “Registration Statement”) filed with the Securities and
Exchange Commission (SEC File No. 333-220646); 
 WHEREAS, in connection with this Agreement,
the Company desires to cease selling shares of Class A, Class T and Class W common stock in the primary portion of the Offering and begin offering shares of Class Y and Class Z common stock pursuant to the new prospectus
contained in the Registration Statement (the “Prospectus”); 
 WHEREAS, the Advisor hereby agrees to fund the payment of all
upfront sales commissions, dealer manager fees and organization and offering expenses in connection with the sales of shares of Class Y and Class Z common stock in the Offering pursuant to the terms of this Agreement; 

WHEREAS, in connection with the Advisor agreeing to enter into this Agreement, the Company and the Operating Partnership have simultaneously
agreed to enter into Amendment No. 2 to the Amended and Restated Advisory Agreement 
 NOW, THEREFORE, for and in consideration of the
premises and the mutual covenants contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the undersigned, intending to be legally bound, agree as follows: 

1.    Funding of Offering Expenses. Effective upon the commencement of the sale of shares of Class Y
and Class Z common stock in the Offering and subject to the limitation described below, the Advisor agrees to fund the payment (as further described in the Prospectus) of (i) the upfront 3% sales commission for the sale of Class Y
shares, (ii) the upfront 3% dealer manager fee for the sale of Class Y shares, and (iii) the estimated 1% organization and offering expenses for the sale of Class Y shares and Class Z shares. The Sponsor agrees to provide
the Advisor with any funds necessary for the Advisor to perform under this Agreement. The Advisor agrees that within 60 days after the end of the month in which the Offering terminates, the Advisor shall reimburse the Company to the extent
organization and offering expenses incurred in good faith exceed the 1% estimate being funded by the Advisor pursuant to this Agreement. The Company agrees that within 60 days after the end of the month in which the Offering terminates, the Company
shall reimburse the Advisor to the extent organization and offering expenses are less than the 1% estimate being funded by the Advisor pursuant to this Agreement. 

2.    Limitation of Funding Obligation. The obligation of the Advisor to fund the offering expenses set
forth in Section 1 hereof shall be limited to the Company raising $250 million in gross offering proceeds from the sale of Class Y shares pursuant to the Offering. 

 3.    Termination Date. This Agreement shall terminate
upon the termination of the Offering; provided, however, the Advisor may terminate this Agreement at any time in its sole discretion after the Company has raised $250 million in gross offering proceeds from the sale of Class Y shares
pursuant to the Offering. 
 4.    Notices. Any notice in this Agreement permitted to be given, made or
accepted by any party to the another, must be in writing and may be given or served by (a) overnight courier, (b) depositing the same in the United States mail, postpaid, certified, return receipt requested, or (c) facsimile transfer.
Notice deposited in the United States mail shall be deemed given when mailed. Notice given in any other manner shall be effective when received at the address of the addressee. For purposes hereof the addresses of the parties, until changed as
hereafter provided, shall be as follows: 
  

					
	To the Advisor or Sponsor:	  	 SSSHT Advisor, LLC
 Attention: H. Michael
Schwartz
 10 Terrace Road
 Ladera Ranch, California 92694

Fax: 949-429-6606
	  	 

                          
                              

 

			
	 To the Company or
 the Operating
Partnership:
	  	 Strategic Student & Senior Housing Trust, Inc.

Attention: H. Michael Schwartz
 10 Terrace Road

Ladera Ranch, California 92694
 Fax: 949-429-6606
	  	

 Any party may at any time give notice in writing to the other party of a change in its address for the purposes of this
Section 4. 
 5.    Entire Agreement. This Agreement constitutes the sole and
entire agreement of the parties to this Agreement with respect to the subject matter contained herein, and supersedes all prior and contemporaneous understandings and agreements, both written and oral, with respect to such subject matter. 

6.    Successor and Assigns. This Agreement shall be binding upon and shall inure to the benefit of the
parties hereto and their respective successors and permitted assigns. However, neither this Agreement nor any of the rights of the parties hereunder may otherwise be transferred or assigned by any party hereto, except that (a) if the Company or
the Operating Partnership shall merge or consolidate with or into, or sell or otherwise transfer substantially all its assets to, another company which assumes the Company’s and the Operating Partnership’s obligations under this Agreement,
the Company and/or the Operating Partnership may assign its rights hereunder to that successor company, and (b) the Advisor may assign its rights and obligations hereunder to any affiliate. Any attempted transfer or assignment in violation of
this Section 6 shall be void. 
 7.    Headings. The headings in this Agreement
are for reference only and shall not affect the interpretation of this Agreement. 
 8.    Amendment and
Modification; Waiver. This Agreement may only be amended, modified or supplemented by an agreement in writing signed by each party hereto. No waiver by any party of any of the provisions hereof shall be effective unless explicitly set forth
in writing and signed by the party so waiving. Except as otherwise set forth in this Agreement, no failure to exercise, or delay in exercising, any rights, remedy, power or privilege arising from this Agreement shall operate or be construed as a
waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. 

 9.    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. 

10.    Governing Law. This Agreement shall be governed by and construed in accordance with the internal laws
of the State of California without giving effect to any choice or conflict of law provision or rule (whether of the State of California or any other jurisdiction) that would cause the application of laws of any jurisdiction other than those of the
State of California. 
 11.    Counterparts. This Agreement may be executed in counterparts, each of which
shall be deemed an original, but all of which shall together shall be deemed to be one and the same agreement. A signed copy of this Agreement delivered by facsimile, e-mail or other means of electronic
transmission shall be deemed to have the same legal effect as delivery of an original signed copy of this Agreement. 

12.    No Strict Construction. The parties to this Agreement have participated jointly in the negotiation
and drafting of this Agreement. In the event an ambiguity or question of intent or interpretation arises, this Agreement will be construed as if drafted jointly by the parties, and no presumption or burden of proof will arise favoring or disfavoring
any party by virtue of the authorship of any of the provisions of this Agreement. 
 [signature page follows] 

 IN WITNESS WHEREOF, the parties have executed this Advisor Funding Agreement to be effective
as of the date first above written. 
  

							
	COMPANY:
	
	 Strategic Student & Senior Housing Trust, Inc.,

a Maryland corporation

		
	By:	 	 /s/ H. Michael Schwartz

		 	H. Michael Schwartz, Chief Executive Officer
	
	OPERATING PARTNERSHIP:
	
	 SSSHT Operating Partnership, L.P.,

a Delaware limited partnership

		
	By:	 	 Strategic Student & Senior Housing Trust, Inc.,

a Maryland corporation and its General Partner

			
		 	 By:
	 	 /s/ H. Michael Schwartz

		 		 	 H. Michael Schwartz

Chief Executive Officer

	
	ADVISOR:
	
	 SSSHT Advisor, LLC,

a Delaware limited liability company

		
	By:	 	 /s/ H. Michael Schwartz

		 	H. Michael Schwartz, Chief Executive Officer
	
	SPONSOR:
	
	 SmartStop Asset Management, LLC,

a Delaware limited liability company

		
	 By:
	 	 /s/ H. Michael Schwartz

		 	H. Michael Schwartz, Chief Executive Officer

 [Signature Page to Advisor Funding Agreement]

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