<SEC-DOCUMENT>0001104659-20-090840.txt : 20200805
<SEC-HEADER>0001104659-20-090840.hdr.sgml : 20200805
<ACCEPTANCE-DATETIME>20200805161446
ACCESSION NUMBER:		0001104659-20-090840
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		14
CONFORMED PERIOD OF REPORT:	20200805
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20200805
DATE AS OF CHANGE:		20200805

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			REALTY INCOME CORP
		CENTRAL INDEX KEY:			0000726728
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				330580106
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13374
		FILM NUMBER:		201077455

	BUSINESS ADDRESS:	
		STREET 1:		11995 EL CAMINO REAL
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92130
		BUSINESS PHONE:		8582845000

	MAIL ADDRESS:	
		STREET 1:		11995 EL CAMINO REAL
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92130
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>tm2026498-2_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<XBRL>
<?xml version="1.0" encoding="utf-8"?>
<html xmlns="http://www.w3.org/1999/xhtml" xmlns:xs="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns:ix="http://www.xbrl.org/2013/inlineXBRL" xmlns:ixt="http://www.xbrl.org/inlineXBRL/transformation/2015-02-26" xmlns:ixt-sec="http://www.sec.gov/inlineXBRL/transformation/2015-08-31" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:dei="http://xbrl.sec.gov/dei/2020-01-31" xmlns:ref="http://www.xbrl.org/2006/ref" xmlns:us-gaap="http://fasb.org/us-gaap/2020-01-31" xmlns:us-roles="http://fasb.org/us-roles/2020-01-31" xmlns:country="http://xbrl.sec.gov/country/2020-01-31" xmlns:srt="http://fasb.org/srt/2020-01-31" xmlns:o="http://realtyincome.com/20200805">
<head>
     <title></title>
<meta http-equiv="Content-Type" content="text/html" />
</head>
<!-- Field: Set; Name: xdx; ID: xdx_029_US%2DGAAP%2D2020 -->
<!-- Field: Set; Name: xdx; ID: xdx_034_o_realtyincome.com_20200805 -->
<!-- Field: Set; Name: xdx; ID: xdx_044_20200805_20200805 -->
<!-- Field: Set; Name: xdx; ID: xdx_059_edei%2D%2DEntityCentralIndexKey_0000726728 -->
<!-- Field: Set; Name: xdx; ID: xdx_059_edei%2D%2DAmendmentFlag_false -->
<!-- Field: Set; Name: xdx; ID: xdx_06B_USD_1_iso4217%2D%2DUSD -->
<!-- Field: Set; Name: xdx; ID: xdx_062_Shares_2_xbrli%2D%2Dshares -->
<!-- Field: Set; Name: xdx; ID: xdx_06D_USDPShares_3_iso4217%2D%2DUSD_xbrli%2D%2Dshares -->
<body style="font: 10pt Times New Roman, Times, Serif">
<div style="display: none">
<ix:header>
  <ix:hidden>
    <ix:nonNumeric contextRef="From2020-08-05to2020-08-05" name="dei:EntityCentralIndexKey">0000726728</ix:nonNumeric>
    <ix:nonNumeric contextRef="From2020-08-05to2020-08-05" format="ixt:booleanfalse" name="dei:AmendmentFlag">false</ix:nonNumeric>
    </ix:hidden>
  <ix:references>
    <link:schemaRef xlink:href="o-20200805.xsd" xlink:type="simple" />
    </ix:references>
  <ix:resources>
    <xbrli:context id="From2020-08-05to2020-08-05">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000726728</xbrli:identifier>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2020-08-05</xbrli:startDate>
        <xbrli:endDate>2020-08-05</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:unit id="USD">
      <xbrli:measure>iso4217:USD</xbrli:measure>
    </xbrli:unit>
    <xbrli:unit id="Shares">
      <xbrli:measure>xbrli:shares</xbrli:measure>
    </xbrli:unit>
    <xbrli:unit id="USDPShares">
      <xbrli:divide>
        <xbrli:unitNumerator>
          <xbrli:measure>iso4217:USD</xbrli:measure>
        </xbrli:unitNumerator>
        <xbrli:unitDenominator>
          <xbrli:measure>xbrli:shares</xbrli:measure>
        </xbrli:unitDenominator>
      </xbrli:divide>
    </xbrli:unit>
    </ix:resources>
  </ix:header>
</div>


<p style="margin: 0"></p>

<!-- Field: Rule-Page --><div style="margin-top: 12pt; margin-bottom: 3pt; width: 100%"><div style="border-top: Black 2pt solid; border-bottom: Black 1pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page -->

<p style="margin-top: 0pt; margin-bottom: 0pt"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>United States</b></p>

<p style="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Securities and Exchange Commission</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Washington, D.C. 20549</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Form <span id="xdx_90F_edei--DocumentType_c20200805__20200805_zM5LA1RNrDZ4"><ix:nonNumeric contextRef="From2020-08-05to2020-08-05" name="dei:DocumentType">8-K</ix:nonNumeric></span></b></p>

<p style="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Current Report</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Pursuant to Section 13 or 15(d) of the<br /> Securities Exchange Act of 1934</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of report: <b><span id="xdx_908_edei--DocumentPeriodEndDate_c20200805__20200805_zBo9Axcy9WEj"><ix:nonNumeric contextRef="From2020-08-05to2020-08-05" format="ixt:datemonthdayyearen" name="dei:DocumentPeriodEndDate">August 5, 2020</ix:nonNumeric></span><br />
</b>(Date of Earliest Event Reported)</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b><span id="xdx_90F_edei--EntityRegistrantName_c20200805__20200805_zLSi5njkyqj7"><ix:nonNumeric contextRef="From2020-08-05to2020-08-05" name="dei:EntityRegistrantName">REALTY INCOME CORPORATION</ix:nonNumeric></span></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified in
its charter)</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table border="0" cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr>
    <td style="vertical-align: top; width: 34%; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b><span id="xdx_90D_edei--EntityIncorporationStateCountryCode_c20200805__20200805_zYegSIXzI7D4"><ix:nonNumeric contextRef="From2020-08-05to2020-08-05" format="ixt-sec:stateprovnameen" name="dei:EntityIncorporationStateCountryCode">Maryland</ix:nonNumeric></span></b></span></td>
    <td style="vertical-align: bottom; width: 1%">&#160;</td>
    <td style="vertical-align: top; width: 32%; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b><span id="xdx_900_edei--EntityFileNumber_c20200805__20200805_zZHo7vGx98wl"><ix:nonNumeric contextRef="From2020-08-05to2020-08-05" name="dei:EntityFileNumber">1-13374</ix:nonNumeric></span></b></span></td>
    <td style="vertical-align: bottom; width: 1%">&#160;</td>
    <td style="vertical-align: top; width: 32%; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b><span id="xdx_90D_edei--EntityTaxIdentificationNumber_c20200805__20200805_zoyPjLZBb0x5"><ix:nonNumeric contextRef="From2020-08-05to2020-08-05" name="dei:EntityTaxIdentificationNumber">33-0580106</ix:nonNumeric></span></b></span></td></tr>
<tr>
    <td style="vertical-align: top; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">(State or Other Jurisdiction of<br /> Incorporation or Organization)</span></td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: top; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">(Commission File Number)</span></td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: top; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">(IRS Employer Identification No.)</span></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-size: 10pt"><b><span id="xdx_901_edei--EntityAddressAddressLine1_c20200805__20200805_zLxazXW77Hwf"><ix:nonNumeric contextRef="From2020-08-05to2020-08-05" name="dei:EntityAddressAddressLine1">11995 El Camino Real</ix:nonNumeric></span>, <span id="xdx_906_edei--EntityAddressCityOrTown_c20200805__20200805_zsjyo4mNuAed"><ix:nonNumeric contextRef="From2020-08-05to2020-08-05" name="dei:EntityAddressCityOrTown">San Diego</ix:nonNumeric></span>, <span id="xdx_900_edei--EntityAddressStateOrProvince_c20200805__20200805_zTcKigs0Bmze"><ix:nonNumeric contextRef="From2020-08-05to2020-08-05" format="ixt-sec:stateprovnameen" name="dei:EntityAddressStateOrProvince">California</ix:nonNumeric></span> <span id="xdx_909_edei--EntityAddressPostalZipCode_c20200805__20200805_zYIGmRpomuwg"><ix:nonNumeric contextRef="From2020-08-05to2020-08-05" name="dei:EntityAddressPostalZipCode">92130</ix:nonNumeric></span><br />
</b>(Address of principal executive offices)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-size: 10pt"><b>(<span id="xdx_903_edei--CityAreaCode_c20200805__20200805_zPKk1hTjXF35"><ix:nonNumeric contextRef="From2020-08-05to2020-08-05" name="dei:CityAreaCode">858</ix:nonNumeric></span>) <span id="xdx_90F_edei--LocalPhoneNumber_c20200805__20200805_zzB9ASt8slsf"><ix:nonNumeric contextRef="From2020-08-05to2020-08-05" name="dei:LocalPhoneNumber">284-5000</ix:nonNumeric></span><br />
</b></span>(Registrant&#8217;s telephone number, including area code)</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-size: 10pt"><b>N/A<br />
</b></span>(former name or former address, if changed since last report)</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form&#160;8-K filing
is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Wingdings"><span id="xdx_908_edei--WrittenCommunications_c20200805__20200805_zDdKCnosDyt"><ix:nonNumeric contextRef="From2020-08-05to2020-08-05" format="ixt:booleanfalse" name="dei:WrittenCommunications">&#168;</ix:nonNumeric></span></span> Written communications pursuant to Rule&#160;425 under the
Securities Act (17 CFR 230.425)</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Wingdings"><span id="xdx_90D_edei--SolicitingMaterial_c20200805__20200805_zvyyoG24VuR4"><ix:nonNumeric contextRef="From2020-08-05to2020-08-05" format="ixt:booleanfalse" name="dei:SolicitingMaterial">&#168;</ix:nonNumeric></span></span> Soliciting material pursuant to Rule&#160;14a-12 under the
Exchange Act (17 CFR 240.14a-12)</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Wingdings"><span id="xdx_908_edei--PreCommencementTenderOffer_c20200805__20200805_zKwArqFG6b57"><ix:nonNumeric contextRef="From2020-08-05to2020-08-05" format="ixt:booleanfalse" name="dei:PreCommencementTenderOffer">&#168;</ix:nonNumeric></span></span> Pre-commencement communications pursuant to Rule&#160;14d-2(b)&#160;under
the Exchange Act (17 CFR 240.14d-2(b))</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Wingdings"><span id="xdx_901_edei--PreCommencementIssuerTenderOffer_c20200805__20200805_zIsW49BDbHj2"><ix:nonNumeric contextRef="From2020-08-05to2020-08-05" format="ixt:booleanfalse" name="dei:PreCommencementIssuerTenderOffer">&#168;</ix:nonNumeric></span></span> Pre-commencement communications pursuant to Rule&#160;13e-4(c)&#160;under
the Exchange Act (17 CFR 240.13e-4(c))</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Securities registered pursuant to Section&#160;12(b)&#160;of
the Act:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table border="1" cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-image: none; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="border-image: none; width: 33%; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">Title of each class</span></td>
    <td style="border-image: none; width: 34%; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">Trading symbol</span></td>
    <td style="border-image: none; width: 33%; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">Name of Each Exchange On Which<br /> Registered</span></td></tr>
<tr style="vertical-align: top">
    <td style="padding-left: 0.1in; border-image: none; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_904_edei--Security12bTitle_c20200805__20200805_ztHu1cITq3D3"><ix:nonNumeric contextRef="From2020-08-05to2020-08-05" name="dei:Security12bTitle">Common Stock, $0.01 Par Value</ix:nonNumeric></span></span></td>
    <td style="border-image: none; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_909_edei--TradingSymbol_c20200805__20200805_zrKzhIgufzng"><ix:nonNumeric contextRef="From2020-08-05to2020-08-05" name="dei:TradingSymbol">O</ix:nonNumeric></span></span></td>
    <td style="border-image: none; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_90A_edei--SecurityExchangeName_c20200805__20200805_zBHhegPoRr2j"><ix:nonNumeric contextRef="From2020-08-05to2020-08-05" format="ixt-sec:exchnameen" name="dei:SecurityExchangeName">New York Stock Exchange</ix:nonNumeric></span></span></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule&#160;405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule&#160;12b-2 of
the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Emerging growth company <span style="font-family: Wingdings"><span id="xdx_90E_edei--EntityEmergingGrowthCompany_c20200805__20200805_zefVA8N2RtX1"><ix:nonNumeric contextRef="From2020-08-05to2020-08-05" format="ixt:booleanfalse" name="dei:EntityEmergingGrowthCompany">&#168;</ix:nonNumeric></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section&#160;13(a)&#160;of the Exchange Act. <span style="font-family: Wingdings">&#168;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Rule-Page --><div style="margin-top: 3pt; margin-bottom: 12pt; width: 100%"><div style="border-top: Black 1pt solid; border-bottom: Black 2pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 1 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 12pt; margin-bottom: 6pt"><p style="text-align: left; margin-top: 0pt; margin-bottom: 0pt">&#160;</p></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Item 8.01 Other Events</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Amendment to Sales Agreement </i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On August 5, 2020, Realty Income Corporation (the &#8220;Company&#8221;)
entered into that certain Amendment No. 1 to Sales Agreement (the &#8220;Amendment&#8221;), which amended the Sales Agreement,
dated December 6, 2019, by and among the Company, the sales agents party thereto, and the forward purchasers party thereto (as
amended, the &#8220;Sales Agreement&#8221;). Pursuant to the Amendment, among other things, Truist Securities, Inc. succeeded to
and assumed all the rights and obligations of BB&amp;T Capital Markets, a division of BB&amp;T Securities, LLC (&#8220;BB&amp;T&#8221;)
under the Sales Agreement and replaced BB&amp;T as a sales agent thereunder.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Amendment is filed herewith as Exhibit 1.1. The description
of the Amendment contained herein does not purport to be complete and is qualified in its entirety by reference to the Amendment
filed herewith as Exhibit 1.1 hereto and incorporated herein by reference.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Updated United States Federal Income Tax Disclosure </i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The discussion under the heading &#8220;United States Federal
Income Tax Considerations&#8221; in Exhibit 99.1 hereto, which is incorporated herein by reference, supersedes and replaces in
their entirety (i) the discussion under the heading &#8220;United States Federal Income Tax Considerations&#8221; in Exhibit 99.1
to the Current Report on Form 8-K filed by Realty Income Corporation (the &#8220;Company&#8221;) with the Securities and Exchange
Commission (the &#8220;SEC&#8221;) on February 22, 2019, as amended and supplemented by the discussion under the heading &#8220;Supplemental
U.S. Federal Income Tax Considerations&#8221; in Exhibit 99.1 to the second Current Report on Form 8-K filed by the Company with
the SEC on May 8, 2020, and (ii) the discussion under the heading &#8220;United States Federal Income Tax Considerations&#8221;
in the prospectus dated November 5, 2018, which is a part of the Company&#8217;s Registration Statement on Form S-3 (File No. 333-228157)
filed with the SEC on November 5, 2018 and which is also attached to (a) each of three prospectus supplements dated November 5,
2018 filed by the Company with the SEC on November 5, 2018 pursuant to Rule 424(b) of the Securities Act of 1933, as amended (&#8220;Rule
424(b)&#8221;), and (b) the prospectus supplement dated December 6, 2019 filed by the Company with the SEC on December 6, 2019
pursuant to Rule 424(b).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Item 9.01 Financial Statements and Exhibits</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(d) Exhibits</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr>
    <td style="padding: 0.5pt; vertical-align: top; width: 8%; font-size: 10pt"><a href="tm2026498d2_ex1-1.htm" style="-sec-extract: exhibit"><span style="font: 10pt Times New Roman, Times, Serif">1.1</span></a></td>
    <td style="padding: 0.5pt; vertical-align: bottom; width: 2%">&#160;</td>
    <td style="padding: 0.5pt; vertical-align: top; width: 90%; font-size: 10pt"><a href="tm2026498d2_ex1-1.htm" style="-sec-extract: exhibit"><span style="font: 10pt Times New Roman, Times, Serif">Amendment
    No. 1 to Sales Agreement, dated as of August 5, 2020, by and among the Company, the sales agents party thereto and the forward
    purchasers party thereto</span></a></td></tr>
<tr>
    <td style="padding: 0.5pt; vertical-align: top; font-size: 10pt"><a href="tm2026498d2_ex99-1.htm" style="-sec-extract: exhibit"><span style="font: 10pt Times New Roman, Times, Serif">99.1</span></a></td>
    <td style="padding: 0.5pt; vertical-align: bottom; font-size: 10pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
    <td style="padding: 0.5pt; vertical-align: top; font-size: 10pt"><a href="tm2026498d2_ex99-1.htm" style="-sec-extract: exhibit"><span style="font: 10pt Times New Roman, Times, Serif">United
    States Federal Income Tax Considerations</span></a></td></tr>
<tr>
    <td style="padding: 0.5pt; vertical-align: top; font-size: 10pt"><span style="font: 10pt Times New Roman, Times, Serif">104</span></td>
    <td style="padding: 0.5pt; vertical-align: bottom">&#160;</td>
    <td style="padding: 0.5pt; vertical-align: top; font-size: 10pt"><span style="font: 10pt Times New Roman, Times, Serif">Cover
    Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101)</span></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p>

<!-- Field: Page; Sequence: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 12pt; margin-bottom: 6pt"><p style="text-align: left; margin-top: 0pt; margin-bottom: 0pt">&#160;</p></div>
    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>&#160;</b></p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>SIGNATURE</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="padding: 0.25pt; font-size: 10pt"><span style="font: 10pt Times New Roman, Times, Serif">Dated: August 5, 2020</span></td>
    <td colspan="2" style="padding: 0.25pt; font-size: 10pt"><span style="font: 10pt Times New Roman, Times, Serif">REALTY INCOME CORPORATION</span></td></tr>
<tr style="vertical-align: top">
    <td style="padding: 0.25pt">&#160;</td>
    <td colspan="2" style="padding: 0.25pt">&#160;</td></tr>
<tr style="vertical-align: top">
    <td style="padding: 0.25pt; width: 51%">&#160;</td>
    <td style="padding: 0.25pt; width: 3%; font-size: 10pt"><span style="font: 10pt Times New Roman, Times, Serif">By: </span></td>
    <td style="border-bottom: black 1pt solid; padding: 0.25pt 0.25pt 0.5pt; width: 46%; font-size: 10pt"><span style="font: 10pt Times New Roman, Times, Serif">/s/ MICHAEL R. PFEIFFER</span></td></tr>
<tr style="vertical-align: top">
    <td style="padding: 0.25pt">&#160;</td>
    <td style="padding: 0.25pt">&#160;</td>
    <td style="padding: 0.25pt; font-size: 10pt"><span style="font: 10pt Times New Roman, Times, Serif">Michael R. Pfeiffer</span></td></tr>
<tr style="vertical-align: top">
    <td style="padding: 0.25pt">&#160;</td>
    <td style="padding: 0.25pt">&#160;</td>
    <td style="padding: 0.25pt; font-size: 10pt"><span style="font: 10pt Times New Roman, Times, Serif">Executive Vice President, Chief Administrative Officer, General Counsel and Secretary</span></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 3; Options: Last -->
    <div style="border-bottom: Black 1pt solid; margin-top: 12pt; margin-bottom: 6pt"><p style="text-align: left; margin-top: 0pt; margin-bottom: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>



</body>
</html>
<!-- Field: Set; Name: xdx; ID: xdx_08B_extensions -->
<!-- eJxFjV0KwjAQhE/QOyx5Lpr6A9o3LVrEKlJEfI3tKsE2Wzbx70je0tgiLgvLMvPNCBGKlJa6QobjPM9gj3VTKYeQ4xkZTYHekazWMfib40Vbx8q49v2BCXkGPTPuyVPhhdZ61xbLGOSkL6N+NAU5jEdTmG1E8NUTMmddonFaVaBMCTumhjU6xa8uYa+eZKh+tVUHZKvJxBD1ZCe/YSCjAWzprh7EVwtZloggbCcQKdOt+dbcrKMaFhXWvst26H+DDzX1SXQ= -->
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-1.1
<SEQUENCE>2
<FILENAME>tm2026498d2_ex1-1.htm
<DESCRIPTION>EXHIBIT 1.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: right"><B>Exhibit 1.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>AMENDMENT NO. 1 TO
SALES AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">This AMENDMENT NO.
1 (this &ldquo;<U>Amendment</U>&rdquo;) dated as of August 5, 2020 to the Original Agreement (as defined below) is by and among
(1) Realty Income Corporation, a Maryland corporation (the &ldquo;<U>Company</U>&rdquo;), (2) the Agents and Forward Purchasers
(as such terms are defined in the Original Agreement referred to below) named on the signature pages hereof and (3) Truist Securities,
Inc. (&ldquo;<U>TSI</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">WHEREAS, the parties
to this Amendment (other than TSI) are parties to the Sales Agreement dated December 6, 2019 (the &ldquo;<U>Original Agreement</U>&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">WHEREAS, BB&amp;T
Capital Markets, a division of BB&amp;T Securities, LLC (&ldquo;<U>BBTS</U>&rdquo;) (which is named as an Agent but not a forward
purchaser in the Original Agreement) and TSI are direct, wholly-owned subsidiaries of Truist Financial Corporation (&ldquo;<U>Truist</U>&rdquo;
and, together with its subsidiaries and affiliated entities, the &ldquo;<U>Truist Organization</U>&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">WHEREAS, as part of
certain internal reorganization efforts within the Truist Organization, effective as of August 1, 2020 (the &ldquo;<U>Effective
Date</U>&rdquo;) (a) BBTS contributed and assigned certain of its assets, including its rights under the Original Agreement (collectively,
the &ldquo;<U>Contributed Assets</U>&rdquo;), to BB&amp;T Merger Sub, Inc. (&ldquo;<U>Merger Sub</U>&rdquo;), and (b) SunTrust
Robinson Humphrey (&ldquo;<U>STRH</U>&rdquo;) subsequently assumed and succeeded to the Contributed Assets upon the merger of
Merger Sub with and into STRH, with STRH as the survivor of such merger (the &ldquo;<U>Combination</U>&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">WHEREAS, for
administrative ease and convenience, such assignment to Merger Sub and assumption by STRH was separately documented and
executed as an assignment of the Original Agreement directly from BBTS to TSI;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, immediately
following the Combination, STRH changed its name to Truist Securities, Inc. effective as of the Effective Date;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">WHEREAS, the parties
hereto desire to amend the Original Agreement to reflect the fact that TSI has succeeded to all rights, and assumed all obligations,
of BBTS under the Original Agreement, and has become an Agent (but not a forward seller), all effective as of the Effective Date;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">NOW, THEREFORE, in
consideration of covenants and agreements herein contained and for other good and valuable consideration, the receipt and sufficiency
of which are hereby conclusively acknowledged by each of the parties hereto, the parties hereto agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"><FONT STYLE="color: #010000">Section
1.</FONT> <U>Certain Definitions</U>. As used in this Amendment, the term &ldquo;<U>Agreement</U>&rdquo; shall mean the Original
Agreement, as amended by this Amendment; and all other capitalized terms used in this Amendment but not defined herein shall have
the respective meanings ascribed thereto in the Original Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"><FONT STYLE="color: #010000">Section
2.</FONT> <U>Assignment and Assumption</U>. Effective as of the Effective Date, (i) BBTS irrevocably assigns, grants, transfers,
contributes and conveys to TSI all of BBTS&rsquo; right, title and interest in, to and under the Original Agreement, (ii) TSI
accepts such assignment, grant, transfer, contribution and conveyance of all such right, title and interest, and (iii) TSI assumes,
and agrees to pay when due and perform when required, all liabilities and obligations of BBTS under or in connection with the
Original Agreement, including, without limitation, all liabilities and obligations arising on or before the date of this Amendment
and all liabilities and obligations arising before, on or after the date of this Amendment in connection with events, actions,
omissions or other circumstances that occurred or existed on or prior to the date of this Amendment. Without limitation to the
foregoing, TSI agrees to be bound by and to comply with the covenants, agreements and other terms and provisions of the Agreement
applicable to an Agent thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"></FONT></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"><FONT STYLE="color: #010000">Section
3.</FONT> <U>Amendments to Original Agreement</U>. The Original Agreement shall be amended as follows, such amendments to the effective
(except as otherwise provided in clause (iv) below) as of the Effective Date: (i) the name and address of BBTS appearing on page
1 of the Original Agreement shall be deleted and replaced with the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 184.5pt; text-indent: -4.5pt">&ldquo;Truist Securities,
Inc.<BR>
3333 Peachtree Road NE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 193.5pt; text-indent: -9pt">11<SUP>th</SUP> Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 193.5pt; text-indent: -9pt">Atlanta, Georgia 30326&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 193.5pt; text-indent: -9pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">(ii) the subparagraph
containing BBTS&rsquo; name and address and facsimile number for notices appearing in the first paragraph of Section 10 of the
Original Agreement shall be deleted and replaced with the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 184.5pt; text-indent: -4.5pt">&ldquo;Truist Securities,
Inc.<BR>
3333 Peachtree Road NE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 184.5pt">11<SUP>th</SUP> Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 184.5pt">Atlanta, Georgia 30326</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 184.5pt">Attention: Reid Burford and Geoff Fennel</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 184.5pt">Facsimile: (404) 926-5995&rdquo;;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 184.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">(iii) all other references
in the Original Agreement to &ldquo;BB&amp;T Capital Markets, a division of BB&amp;T Securities, LLC&rdquo; (other than the reference
appearing in Section 18 of the Original Agreement) shall be deleted and replaced with a reference to &ldquo;Truist Securities,
Inc.&rdquo;, and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">(iv) all references
in the Original Agreement to &ldquo;MUFG Securities Americas Inc.&rdquo; and &ldquo;MUFG Securities EMEA plc&rdquo; (which entities
previously elected to terminate the Original Agreement as to themselves), including their respective names and addresses appearing
on pages 1 and 2 of the Original Agreement, their respective names and addresses for notice appearing in Section 10 of the Original
Agreement and their respective names and signatures appearing on the signature pages of the Original Agreement, shall be deleted,
effective as of April 23, 2020.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"><FONT STYLE="color: #010000">Section
4.</FONT> <U>Confirmation of Transactions</U>. For purposes of clarity, the parties hereto acknowledge and agree that, by virtue
of this Amendment and the other transactions described above, BBTS ceased to be an Agent under and a party to the Original Agreement,
and TSI became an Agent (but not a forward seller) under and a party to the Original Agreement, all effective as of the Effective
Date; and, to the extent required by the Original Agreement, the parties hereto consent to this Amendment and the transactions
contemplated hereby (including, without limitation, the assignment and assumption set forth in Section 2 hereof).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 2; Options: NewSection; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"><FONT STYLE="color: #010000">Section
5.</FONT> <U>Provisions Applicable to Termination of an Agent as to Itself</U>. BBTS&rsquo; ceasing to be an Agent under and party
to the Original Agreement as of the Effective Date shall be deemed to be a termination of the Original Agreement by BBTS as to
itself under Section 9(a) of the Original Agreement and, as a result, shall be subject to the survival of certain terms and provisions
of the Original Agreement that, as provided in Section 9(d) of the Original Agreement or elsewhere therein, shall survive any
such termination and remain in full force and effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"><FONT STYLE="color: #010000">Section
6.</FONT> <U>Prospectus Supplement</U>. The Company agrees to file promptly with the Commission a supplement to the Prospectus
to reflect the fact that BBTS has ceased to be an Agent under the Agreement and that TSI has become an Agent (but not a forward
seller), under the Agreement (which prospectus supplement may also reflect the prior withdrawal of MUFG Securities Americas Inc.
as an Agent and of MUFG Securities EMEA plc as a Forward Purchaser), agrees to provide such prospectus supplement to the other
parties hereto and Sidley Austin LLP a reasonable amount of time prior to the proposed filing thereof, and agrees not to file
or use such prospectus supplement if any of the other parties hereto or Sidley Austin LLP shall reasonably object thereto. The
parties hereto agree that, notwithstanding the provisions of Sections 3(c), (o), (p) or (q) of the Agreement, no written notice
from the Company, officers&rsquo; certificates, legal opinions, negative assurance letters or accountants&rsquo; letters shall
be required solely as a result of the filing or use of such prospectus supplement or the execution of this Amendment and no such
event shall be deemed a Representation Date (as such term is defined in the Original Agreement), but, notwithstanding the foregoing,
that such prospectus supplement shall be deemed to have been filed with the Commission in accordance with Section 3(c) of the
Original Agreement and that the term &ldquo;Prospectus Supplement,&rdquo; as used in the Agreement, shall be deemed to include
such prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"><FONT STYLE="color: #010000">Section
7.</FONT> <U>Original Agreement</U>. The Original Agreement is hereby ratified and confirmed in all respects and, except as amended
hereby, shall remain in full force and effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"><FONT STYLE="color: #010000">Section
8.</FONT> <U>Parties</U>. This Amendment shall each inure to the benefit of and be binding upon the Agents, including any substitute
Agents pursuant to Section 9 of the Original Agreement, the Forward Purchasers, the Company, BBTS and TSI and their respective
successors. Nothing expressed or mentioned in this Amendment is intended or shall be construed to give any person, firm or corporation,
other than the Agents, the Forward Purchasers, the Company, BBTS and TSI and their respective successors, any legal or equitable
right, remedy or claim under or in respect of this Amendment or any provision herein contained. This Amendment and all conditions
and provisions hereof are intended to be for the sole and exclusive benefit of the Agents, the Forward Purchasers, the Company,
BBTS and TSI and their respective successors and for the benefit of no other person, firm or corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"><FONT STYLE="color: #010000">Section
9.</FONT> <U>Trial by Jury</U>. Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by applicable
law, any and all right to trial by jury in any legal proceeding arising out of or relating to this Amendment or the transactions
contemplated hereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 3; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"><FONT STYLE="color: #010000">Section
10.</FONT> <U>GOVERNING LAW AND TIME</U>. THIS AMENDMENT AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THIS
AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO AGREEMENTS MADE
AND TO BE PERFORMED IN SAID STATE.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"><FONT STYLE="color: #010000">Section
11.</FONT> <U>Counterparts; Electronic Signatures</U>. This Amendment may be executed in any number of counterparts, each of which
shall be deemed to be an original, but all such counterparts shall together constitute one and the same Agreement. The words &ldquo;executed,&rdquo;
&ldquo;execution,&rdquo; signed,&rdquo; &ldquo;signature,&rdquo; and words of like import in this Amendment or in any instruments,
agreements, certificates, notices or other documents entered into or delivered pursuant to or in connection with this Amendment
shall include images of manually executed signatures transmitted by facsimile or other electronic format (including, without limitation,
&ldquo;pdf&rdquo;, &ldquo;tif&rdquo; or &ldquo;jpg&rdquo;). The use of electronic signatures and electronic records (including,
without limitation, any contract or other record created, generated, sent, communicated, received, or stored by electronic means)
shall be of the same legal effect, validity and enforceability as a manually executed signature or use of a paper-based record-keeping
system to the fullest extent permitted by applicable law, including the Federal Electronic Signatures in Global and National Commerce
Act, the New York State Electronic Signatures and Records Act and any other applicable law, including, without limitation, any
state law based on the Uniform Electronic Transactions Act or the Uniform Commercial Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"><FONT STYLE="color: #010000">Section
12.</FONT> <U>Manner of Notice</U>. Each party hereto agrees that, anything in the Agreement to the contrary notwithstanding, any
notice required to be given to such party pursuant to the Agreement in connection with the matters contemplated by this Amendment
may be given to such party by email, such email to be sent to one or more of its employees who are involved in the Realty Income
ATM program, and that such email shall be effective on the date it is sent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"><FONT STYLE="color: #010000">Section
13.</FONT> <U>Effect of Headings</U>. The Section headings herein are for convenience only and shall not affect the construction
hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 4; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">IN WITNESS WHEREOF,
the parties hereto have caused this Amendment to be duly executed as of the day and year first written above:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">Realty Income
    Corporation</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">/s/
    Michael R. Pfeiffer</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt; width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 3%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 5%"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; width: 42%"><FONT STYLE="font-size: 10pt">Michael R.
    Pfeiffer</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">Executive Vice President,</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">Chief Administrative
    Officer,</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 10pt">General Counsel and Secretary</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">[Signature Page to
the Amendment No. 1 to Sales Agreement]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 5 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Mizuho Securities USA
                    LLC,</P>

</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Wells Fargo Bank, National Association,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">As Agent</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">As Forward Purchaser</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 46%">/s/ JT Deignan</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 3%">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 46%">/s/ Cathleen Burke</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: </FONT>JT Deignan</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:</FONT> Cathleen Burke</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: </FONT>Managing Director</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: Managing Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">BB&amp;T Capital Markets, a division of</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">RBC Capital Markets, LLC, </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">BB&amp;T Securities, LLC,</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">As Agent</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">As Agent</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD></TD>
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Asad Kazim</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Eric Watson</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:</FONT> Asad Kazim</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:</FONT> Eric Watson</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: Managing Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: Managing Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">RBC Capital Markets, LLC,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Truist Securities, Inc.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">As agent for Royal Bank of Canada,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD></TD>
    <TD></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">As Forward Purchaser</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Reid Burford</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD></TD>
    <TD><FONT STYLE="font-size: 10pt">Name:</FONT> Reid Burford</TD>
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Brian Ward</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: Managing Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD></TD>
    <TD><FONT STYLE="font-size: 10pt">Name:</FONT> Brian Ward</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: Managing Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Stifel, Nicolaus &amp; Company, Incorporated,</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">BofA Securities, Inc.,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">As Agent</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">As Agent</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Chad M. Gorsuch</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:</FONT> Chad M. Gorsuch</TD>
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Hicham Hamdouch</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: Managing Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:</FONT> Hicham Hamdouch</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: Managing Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Wells Fargo Securities, LLC,</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">As Agent</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Bank of America, N.A.,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">As Forward Purchaser</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Elizabeth Alvarez</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:</FONT> Elizabeth Alvarez</TD>
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Jake Mendelsohn</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: Managing Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:</FONT> Jake Mendelsohn</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: Managing Director</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">[Signature Page to
the Amendment No. 1 to Sales Agreement]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 6 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Robert W. Baird &amp; Co. Incorporated,</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">BNY Mellon Capital Markets, LLC,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">As Agent</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">As Agent</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 46%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 46%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Christopher Walter</TD>
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Dan Klinger</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:</FONT> Christopher Walter</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:</FONT> Dan Klinger</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: Managing Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Barclays Capital Inc.,</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Joseph Mancino</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">As Agent</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:</FONT> Joseph Mancino</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: President and CAO</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Nicholas Cunningham</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Nicholas Cunningham</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">The Bank of New York Mellon,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: Managing Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">As Forward Purchaser</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Barclays Bank PLC,</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Robert Lynch</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">As Forward Purchaser</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:</FONT> Robert Lynch</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: Managing Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid"> /s/ Nicholas Cunningham</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:</FONT> Nicholas Cunningham</TD>
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Sabrina Washington</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: Managing Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:</FONT> Sabrina Washington</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">J.P. Morgan Securities LLC,</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">As Agent</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Jefferies LLC,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">As Agent and as Forward Purchaser</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Stephanie Little</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:</FONT> Stephanie Little</TD>
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Donald Lynaugh</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: Executive Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:</FONT> Donald Lynaugh</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: Managing Director, ECM</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">JPMorgan Chase Bank, National Association, </FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">As Forward Purchaser</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Citigroup Global Markets Inc.,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">As Agent</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid"> /s/ Stephanie Little</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:</FONT> Stephanie Little</TD>
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Zhifeng Tao</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:</FONT> Executive Director</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:</FONT> Zhifeng Tao</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: VP</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">[Signature Page to
the Amendment No. 1 to Sales Agreement]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 7 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Citibank, N.A.,</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Credit Suisse Securities (USA) LLC, </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">As Forward Purchaser </FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">As Agent</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 46%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 46%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ James Heathcote</TD>
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Jim Cronin</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:</FONT> James Heathcote</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:</FONT> Jim Cronin</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: Authorized Signatory</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: Managing Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Goldman Sachs &amp; Co. LLC,</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Credit Suisse International, </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">As Agent and as Forward Purchaser </FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">As Forward Purchaser </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Daniel M. Young</TD>
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Bik Kwan Chung</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:</FONT> Daniel M. Young</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: </FONT> Bik Kwan Chung</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:  Managing Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: Authorized Signatory</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Morgan Stanley &amp; Co. LLC,</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Shui Wong</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">As Agent and as Forward Purchaser </FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:</FONT> Shui Wong</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: Authorized Signatory</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Jon Sierant</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:</FONT> <FONT STYLE="text-transform: uppercase">Jon Sierant</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">BMO Capital Markets Corp.,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: Executive Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">As Agent</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">UBS Securities LLC,</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ David Raff</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">As Agent</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:</FONT> David Raff</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 46%"></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 46%"><FONT STYLE="font-size: 10pt">Title: Managing Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Whitney Mikell</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:</FONT> Whitney Mikell</TD>
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Brian Riley</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:</FONT> Brian Riley</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: Managing Director, Global Markets</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Chris LoBello</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD></TD>
    <TD><FONT STYLE="font-size: 10pt">Name:</FONT> Chris LoBello</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Bank of Montreal,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: Associate Director</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">As Forward Purchaser</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">UBS AG, London Branch,</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Roman Law</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">As Forward Purchaser</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:</FONT> Roman Law</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: Authorized Signatory</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Alexander Li</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:</FONT> Alexander Li</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">BTIG, LLC,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: Authorized Signatory</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">As Agent</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Robert Gerbo</TD>
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Joseph Passaro</TD></TR>
<TR STYLE="vertical-align: top">
    <TD></TD>
    <TD><FONT STYLE="font-size: 10pt">Name:</FONT> Robert Gerbo</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:</FONT> Joseph Passaro</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: Authorized Signatory</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: Managing Director</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">[Signature Page to
the Amendment No. 1 to Sales Agreement]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 8 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Regions
    Securities LLC, </FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD COLSPAN="2" STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
    Agent</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif; width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; width: 46%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif">/s/ <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Thomas
    Bove</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT> Thomas Bove</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: Vice President</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD COLSPAN="2" STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Scotia
    Capital (USA) Inc., </FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD COLSPAN="2" STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
    Agent</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
Michael Kruse</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: Michael Kruse</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: Head of Global Banking &amp; Markets, US</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD COLSPAN="2" STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    Bank of Nova Scotia, </FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD COLSPAN="2" STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
    Forward Purchaser</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
Michael Kruse</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: Michael Kruse</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: Head of Global Banking &amp; Markets, US</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD COLSPAN="2" STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">TD
    Securities (USA) LLC, </FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD COLSPAN="2" STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
    Agent</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD COLSPAN="2" STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
Bradford R. Limpert</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT>
Bradford R. Limpert</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: Managing Director</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">[Signature Page to
the Amendment No. 1 to Sales Agreement]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Page; Sequence: 9; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>tm2026498d2_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Exhibit 99.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>The following discussion supersedes and replaces in
their entirety (i) the discussion under the heading &ldquo;United States Federal Income Tax Considerations&rdquo; in Exhibit
99.1 to the Current Report on Form 8-K filed by Realty Income Corporation (the &ldquo;Company&rdquo;) with the Securities and
Exchange Commission (the &ldquo;SEC&rdquo;) on February 22, 2019, as amended and supplemented by the discussion under the
heading &ldquo;Supplemental U.S. Federal Income Tax Considerations&rdquo; in Exhibit 99.1 to the second Current Report on
Form 8-K filed by the Company with the SEC on May 8, 2020, and (ii) the discussion under the heading &ldquo;United States
Federal Income Tax Considerations&rdquo; in the prospectus dated November 5, 2018 (the &ldquo;Base Prospectus&rdquo;), which
is a part of the Company&rsquo;s Registration Statement on Form S-3 (File No. 333-228157) filed with the SEC on November 5,
2018 and which is also attached to (a) each of three prospectus supplements dated November 5, 2018 filed by the Company with
the SEC on November 5, 2018 pursuant to Rule 424(b) of the Securities Act of 1933, as amended (&ldquo;Rule 424(b)&rdquo;),
and (b) the prospectus supplement dated December 6, 2019 filed by the Company with the SEC on December 6, 2019 pursuant to
Rule 424(b).</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES FEDERAL INCOME TAX CONSIDERATIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">The following is a general discussion of
certain material U.S. federal income tax considerations regarding our election to be taxed as a real estate investment trust (a
&ldquo;REIT&rdquo;) and the acquisition, ownership and disposition of our capital stock or debt securities. Supplemental U.S. federal
income tax considerations relevant to holders of the securities offered by this prospectus (including warrants, preferred stock
and depositary shares) may be provided in the prospectus supplement or a free writing prospectus that relates to those securities
or a document incorporated by reference in the prospectus supplement. For purposes of this discussion, references to &ldquo;we,&rdquo;
&ldquo;our&rdquo; and &ldquo;us&rdquo; mean only Realty Income Corporation and do not include any of its subsidiaries, except as
otherwise indicated. This discussion is for general information only and is not tax advice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The information in this discussion is based
on:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>the Internal Revenue Code of 1986, as amended (the &ldquo;Code&rdquo;);</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>current, temporary and proposed Treasury Regulations promulgated under the Code;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>the legislative history of the Code;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>administrative interpretations and practices of the Internal Revenue Service (the &ldquo;IRS&rdquo;); and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>court decisions;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">in each case, as of August 5, 2020. In addition, the administrative
interpretations and practices of the IRS include its practices and policies as expressed in private letter rulings that are not
binding on the IRS except with respect to the particular taxpayers who requested and received those rulings. The sections of the
Code and the corresponding Treasury Regulations that relate to qualification and taxation as a REIT are highly technical and complex.
The following discussion sets forth certain material aspects of the sections of the Code that govern the U.S. federal income tax
treatment of a REIT, its stockholders and the holders of its debt securities. This discussion is qualified in its entirety by the
applicable Code provisions, Treasury Regulations promulgated under the Code, and administrative and judicial interpretations thereof.
Potential tax reforms may result in significant changes to the rules governing U.S. federal income taxation. New legislation, Treasury
Regulations, administrative interpretations and practices and/or court decisions may significantly and adversely affect our ability
to qualify as a REIT, the U.S. federal income tax consequences of such qualification, or the U.S. federal income tax consequences
of an investment in our capital stock or debt securities, including those described in this discussion. Moreover, the law relating
to the tax treatment of other entities, or an investment in other entities, could change, making an investment in such other entities
more attractive relative to an investment in a REIT. Any such changes could apply retroactively to transactions preceding the date
of the change. We have not requested, and do not plan to request, any rulings from the IRS that we qualify as a REIT, and the statements
in this prospectus are not binding on the IRS or any court. Thus, we can provide no assurance that the tax considerations contained
in this discussion will not be challenged by the IRS or will be sustained by a court if challenged by the IRS. This summary does
not discuss any state, local or non-U.S. tax consequences, or any tax consequences arising under any U.S. federal tax laws other
than U.S. federal income tax laws, associated with the acquisition, ownership or disposition of our capital stock or debt securities,
or our election to be taxed as a REIT.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 1; Options: NewSection -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>You are urged to consult your tax advisor
regarding the tax consequences to you of: </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD><B>the acquisition, ownership and disposition of our capital stock or debt securities, including the U.S. federal, state, local,
non-U.S. and other tax consequences; </B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD><B>our election to be taxed as a REIT for U.S. federal income tax purposes; and</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD><B>potential changes in applicable tax laws.</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Taxation of Our Company</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B><I>General</I></B>. We have elected
to be taxed as a REIT under Sections 856 through 860 of the Code, commencing with our taxable year ended December 31, 1994. We
believe that we have been organized and have operated in a manner that has allowed us to qualify for taxation as a REIT under the
Code commencing with such taxable year, and we intend to continue to be organized and operate in this manner. However, qualification
and taxation as a REIT depend upon our ability to meet the various qualification tests imposed under the Code, including through
actual operating results, asset composition, distribution levels and diversity of stock ownership. Accordingly, no assurance can
be given that we have been organized and have operated, or will continue to be organized and operate, in a manner so as to qualify
or remain qualified as a REIT. See &ldquo;&mdash;Failure to Qualify&rdquo; for potential tax consequences if we fail to qualify
as a REIT.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">Latham &amp; Watkins LLP acted as our tax
counsel in connection with the filing of the Base Prospectus on November 5, 2018 and our election to be taxed as a REIT. Latham
&amp; Watkins LLP has rendered an opinion to us, as of the date of the Base Prospectus, to the effect that, commencing with our
taxable year ending December 31, 1994, we have been organized and have operated in conformity with the requirements for qualification
and taxation as a REIT under the Code, and our proposed method of operation will enable us to continue to meet the requirements
for qualification and taxation as a REIT under the Code. It must be emphasized that this opinion was based on various assumptions
and representations as to factual matters, including representations made by us in a factual certificate provided by one of our
officers. In addition, this opinion was based upon our factual representations set forth in the Base Prospectus. Moreover, our
qualification and taxation as a REIT depend upon our ability to meet the various qualification tests imposed under the Code, which
are discussed below, including through actual operating results, asset composition, distribution levels and diversity of stock
ownership, the results of which have not been and will not be reviewed by Latham &amp; Watkins LLP. Accordingly, no assurance can
be given that our actual results of operations for any particular taxable year have satisfied or will satisfy those requirements.
Further, the anticipated U.S. federal income tax treatment described herein may be changed, perhaps retroactively, by legislative,
administrative or judicial action at any time. Latham &amp; Watkins LLP has no obligation to update its opinion subsequent to the
date of such opinion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">Provided we qualify for taxation as a REIT,
we generally will not be required to pay U.S. federal corporate income taxes on our REIT taxable income that is currently distributed
to our stockholders. This treatment substantially eliminates the &ldquo;double taxation&rdquo; that ordinarily results from investment
in a C corporation. A C corporation is a corporation that generally is required to pay tax at the corporate level. Double taxation
means taxation once at the corporate level when income is earned and once again at the stockholder level when the income is distributed.
We will, however, be required to pay U.S. federal income tax as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>First, we will be required to pay regular U.S. federal corporate income tax on any undistributed REIT taxable income, including
undistributed capital gain.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>Second, if we have (1) net income from the sale or other disposition of &ldquo;foreclosure property&rdquo; held primarily for
sale to customers in the ordinary course of business or (2) other nonqualifying income from foreclosure property, we will be required
to pay regular U.S. federal corporate income tax on this income. To the extent that income from foreclosure property is otherwise
qualifying income for purposes of the 75% gross income test, this tax is not applicable. Subject to certain other requirements,
foreclosure property generally is defined as property we acquired through foreclosure or after a default on a loan secured by the
property or a lease of the property. See &ldquo;&mdash;Foreclosure Property.&rdquo;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>Third, we will be required to pay a 100% tax on any net income from prohibited transactions. Prohibited transactions are, in
general, sales or other taxable dispositions of property, other than foreclosure property, held as inventory or primarily for sale
to customers in the ordinary course of business.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>Fourth, if we fail to satisfy the 75% gross income test or the 95% gross income test, as described below, but have otherwise
maintained our qualification as a REIT because certain other requirements are met, we will be required to pay a tax equal to (1)
the greater of (A) the amount by which we fail to satisfy the 75% gross income test and (B) the amount by which we fail to satisfy
the 95% gross income test, multiplied by (2) a fraction intended to reflect our profitability.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>Fifth, if we fail to satisfy any of the asset tests (other than a de minimis failure of the 5% or 10% asset test), as described
below, due to reasonable cause and not due to willful neglect, and we nonetheless maintain our REIT qualification because of specified
cure provisions, we will be required to pay a tax equal to the greater of $50,000 or the U.S. federal corporate income tax rate
multiplied by the net income generated by the nonqualifying assets that caused us to fail such test.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>Sixth, if we fail to satisfy any provision of the Code that would result in our failure to qualify as a REIT (other than a
violation of the gross income tests or certain violations of the asset tests, as described below) and the violation is due to reasonable
cause and not due to willful neglect, we may retain our REIT qualification but we will be required to pay a penalty of $50,000
for each such failure.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>Seventh, we will be required to pay a 4% excise tax to the extent we fail to distribute during each calendar year at least
the sum of (1) 85% of our ordinary income for the year, (2) 95% of our capital gain net income for the year, and (3) any undistributed
taxable income from prior periods.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>Eighth, if we acquire any asset from a corporation that is or has been a C corporation in a transaction in which our tax basis
in the asset is less than the fair market value of the asset, in each case determined as of the date on which we acquired the asset,
and we subsequently recognize gain on the disposition of the asset during the five-year period beginning on the date on which we
acquired the asset, then we generally will be required to pay regular U.S. federal corporate income tax on this gain to the extent
of the excess of (1) the fair market value of the asset over (2) our adjusted tax basis in the asset, in each case determined as
of the date on which we acquired the asset. The results described in this paragraph with respect to the recognition of gain assume
that the C corporation will refrain from making an election to receive different treatment under applicable Treasury Regulations
on its tax return for the year in which we acquire the asset from the C corporation. Under applicable Treasury Regulations, any
gain from the sale of property we acquired in an exchange under Section 1031 (a like-kind exchange) or Section 1033 (an involuntary
conversion) of the Code generally is excluded from the application of this built-in gains tax.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>Ninth, our subsidiaries that are C corporations and are not qualified REIT subsidiaries, including our &ldquo;taxable REIT
subsidiaries&rdquo; described below, generally will be required to pay regular U.S. federal corporate income tax on their earnings.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>Tenth, we will be required to pay a 100% tax on any &ldquo;redetermined rents,&rdquo; &ldquo;redetermined deductions,&rdquo;
&ldquo;excess interest&rdquo; or &ldquo;redetermined TRS service income,&rdquo; as described below under &ldquo;&mdash;Penalty
Tax.&rdquo; In general, redetermined rents are rents from real property that are overstated as a result of services furnished to
any of our tenants by a taxable REIT subsidiary of ours. Redetermined deductions and excess interest generally represent amounts
that are deducted by a taxable REIT subsidiary of ours for amounts paid to us that are in excess of the amounts that would have
been deducted based on arm&rsquo;s length negotiations. Redetermined TRS service income generally represents income of a taxable
REIT subsidiary that is understated as a result of services provided to us or on our behalf.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>Eleventh, we may elect to retain and pay income tax on our net capital gain. In that case, a stockholder would include its
proportionate share of our undistributed capital gain (to the extent we make a timely designation of such gain to the stockholder)
in its income, would be deemed to have paid the tax that we paid on such gain, and would be allowed a credit for its proportionate
share of the tax deemed to have been paid, and an adjustment would be made to increase the tax basis of the stockholder in our
capital stock.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>Twelfth, if we fail to comply with the requirement to send annual letters to our stockholders holding at least a certain percentage
of our stock, as determined under applicable Treasury Regulations, requesting information regarding the actual ownership of our
stock, and the failure is not due to reasonable cause or is due to willful neglect, we will be subject to a $25,000 penalty, or
if the failure is intentional, a $50,000 penalty.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">We and our subsidiaries may be subject
to a variety of taxes other than U.S. federal income tax, including payroll taxes and state and local income, property and other
taxes on our assets and operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">From time to time, we may own properties
in other countries, which may impose taxes on our operations within their jurisdictions. To the extent possible, we will structure
our activities to minimize our non-U.S. tax liability. However, there can be no assurance that we will be able to eliminate our
non-U.S. tax liability or reduce it to a specified level. Furthermore, as a REIT, both we and our stockholders will derive little
or no benefit from foreign tax credits arising from those non-U.S. taxes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B><I>Requirements for Qualification as
a REIT</I></B>. The Code defines a REIT as a corporation, trust or association:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(1)</TD><TD>that is managed by one or more trustees or directors;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(2)</TD><TD>that issues transferable shares or transferable certificates to evidence its beneficial ownership;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(3)</TD><TD>that would be taxable as a domestic corporation, but for Sections 856 through 860 of the Code;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(4)</TD><TD>that is not a financial institution or an insurance company within the meaning of certain provisions of the Code;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(5)</TD><TD>that is beneficially owned by 100 or more persons;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(6)</TD><TD>not more than 50% in value of the outstanding stock of which is owned, actually or constructively, by five or fewer individuals,
including certain specified entities, during the last half of each taxable year; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(7)</TD><TD>that meets other tests, described below, regarding the nature of its income and assets and the amount of its distributions.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">The Code provides that conditions (1) to
(4), inclusive, must be met during the entire taxable year and that condition (5) must be met during at least 335 days of a taxable
year of 12 months, or during a proportionate part of a taxable year of less than 12 months. Conditions (5) and (6) do not apply
until after the first taxable year for which an election is made to be taxed as a REIT. For purposes of condition (6), the term
&ldquo;individual&rdquo; includes a supplemental unemployment compensation benefit plan, a private foundation or a portion of a
trust permanently set aside or used exclusively for charitable purposes, but generally does not include a qualified pension plan
or profit sharing trust.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">We believe that we have been organized
and have operated in a manner that has allowed us, and will continue to allow us, to satisfy conditions (1) through (7) inclusive,
during the relevant time periods. In addition, our charter provides for restrictions regarding ownership and transfer of our shares
that are intended to assist us in continuing to satisfy the share ownership requirements described in conditions (5) and (6) above.
A description of the share ownership and transfer restrictions relating to our capital stock is contained in the discussion in
the Base Prospectus under the heading &ldquo;Restrictions on Ownership and Transfers of Stock.&rdquo; These restrictions, however,
do not ensure that we have previously satisfied, and may not ensure that we will, in all cases, be able to continue to satisfy,
the share ownership requirements described in conditions (5) and (6) above. If we fail to satisfy these share ownership requirements,
except as provided in the next sentence, our status as a REIT will terminate. If, however, we comply with the rules contained in
applicable Treasury Regulations that require us to ascertain the actual ownership of our shares and we do not know, or would not
have known through the exercise of reasonable diligence, that we failed to meet the requirement described in condition (6) above,
we will be treated as having met this requirement. See &ldquo;&mdash;Failure to Qualify.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"></P>

<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">In addition, we may not maintain our status
as a REIT unless our taxable year is the calendar year. We have and will continue to have a calendar taxable year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B><I>Ownership of Interests in Partnerships,
Limited Liability Companies and Qualified REIT Subsidiaries</I></B>. In the case of a REIT that is a partner in a partnership (for
purposes of this discussion, references to &ldquo;partnership&rdquo; include a limited liability company treated as a partnership
for U.S. federal income tax purposes, and references to &ldquo;partner&rdquo; include a member in such a limited liability company),
Treasury Regulations provide that the REIT will be deemed to own its proportionate share of the assets of the partnership based
on its interest in partnership capital, subject to special rules relating to the 10% asset test described below. Also, the REIT
will be deemed to be entitled to its proportionate share of the income of that entity. The assets and gross income of the partnership
retain the same character in the hands of the REIT for purposes of Section 856 of the Code, including satisfying the gross income
tests and the asset tests. Thus, our pro rata share of the assets and items of income of any partnership or disregarded entity
for U.S. federal income tax purposes in which we directly or indirectly own an interest is treated as our assets and items of income
for purposes of applying the requirements described in this discussion, including the gross income and asset tests described below.
A brief summary of the rules governing the U.S. federal income taxation of partnerships is set forth below in &ldquo;&mdash;Tax
Aspects of the Subsidiary Partnerships and the Limited Liability Companies.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">We generally have control of our subsidiary
partnerships and intend to operate them in a manner consistent with the requirements for our qualification as a REIT. We may from
time to time be a limited partner or non-managing member in some of our partnerships. If a partnership in which we own an interest
takes or expects to take actions that could jeopardize our status as a REIT or require us to pay tax, we may be forced to dispose
of our interest in such entity. In addition, it is possible that a partnership could take an action which could cause us to fail
a gross income or asset test, and that we would not become aware of such action in time to dispose of our interest in the partnership
or take other corrective action on a timely basis. In such a case, we could fail to qualify as a REIT unless we were entitled to
relief, as described below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">We may from time to time own and operate
certain properties through wholly-owned subsidiaries that we intend to be treated as &ldquo;qualified REIT subsidiaries&rdquo;
under the Code. A corporation will qualify as our qualified REIT subsidiary if we own 100% of the corporation&rsquo;s outstanding
stock and do not elect with the subsidiary to treat it as a &ldquo;taxable REIT subsidiary,&rdquo; as described below. A qualified
REIT subsidiary is not treated as a separate corporation, and all assets, liabilities and items of income, gain, loss, deduction
and credit of a qualified REIT subsidiary are treated as assets, liabilities and items of income, gain, loss, deduction and credit
of the parent REIT for all purposes under the Code, including all REIT qualification tests. Thus, in applying the U.S. federal
income tax requirements described in this discussion, any qualified REIT subsidiaries we own are ignored, and all assets, liabilities
and items of income, gain, loss, deduction and credit of such corporations are treated as our assets, liabilities and items of
income, gain, loss, deduction and credit. A qualified REIT subsidiary is not subject to U.S. federal income tax, and our ownership
of the stock of a qualified REIT subsidiary will not violate the restrictions on ownership of securities, as described below under
&ldquo;&mdash;Asset Tests.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B><I>Ownership of Interests in Taxable
REIT Subsidiaries</I></B>. <FONT STYLE="color: #231F20">We currently own an interest in a number of taxable REIT subsidiaries and
may acquire securities in additional taxable REIT subsidiaries in the future. A taxable REIT subsidiary is a corporation (or other
entity treated as a corporation for U.S. federal income tax purposes) other than a REIT in which a REIT directly or indirectly
holds stock, and that has made a joint election with such REIT to be treated as a taxable REIT subsidiary. If a taxable REIT subsidiary
owns more than 35% of the total voting power or value of the outstanding securities of another corporation, such other corporation
will also be treated as a taxable REIT subsidiary. Other than some activities relating to lodging and health care facilities, a
taxable REIT subsidiary may generally engage in any business, including the provision of customary or non-customary services to
tenants of its parent REIT. A taxable REIT subsidiary is subject to U.S. federal income tax as a regular C corporation. A REIT
is not treated as holding the assets of a taxable REIT subsidiary or as receiving any income that the taxable REIT subsidiary earns.
Rather, the stock issued by the taxable REIT subsidiary is an asset in the hands of the REIT, and the REIT generally recognizes
as income the dividends, if any, that it receives from the taxable REIT subsidiary. A REIT&rsquo;s ownership of securities of a
taxable REIT subsidiary is not subject to the 5% or 10% asset test described below. See &ldquo;&mdash;Asset Tests.&rdquo; &nbsp;For
taxable years beginning after December 31, 2017, taxpayers are subject to a limitation on their ability to deduct net business
interest generally equal to 30% of adjusted taxable income, subject to certain exceptions. For any taxable year beginning in 2019
or 2020, the 30% limitation has been increased to a 50% limitation, provided that for partnerships the 50% limitation applies for
any taxable year beginning in 2020 only. Taxpayers may elect to use their 2019 adjusted taxable income for purposes of computing
their 2020 limitation. See &ldquo;&mdash;Annual Distribution Requirements.&rdquo; While not certain, this provision may limit the
ability of our taxable REIT subsidiaries to deduct interest, which could increase their taxable income.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 5 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B><I>Income Tests</I></B>. We must satisfy
two gross income requirements annually to maintain our qualification as a REIT. First, in each taxable year we must derive directly
or indirectly at least 75% of our gross income (excluding gross income from prohibited transactions, certain hedging transactions
and certain foreign currency gains) from investments relating to real property or mortgages on real property, including &ldquo;rents
from real property,&rdquo; dividends from other REITs and, in certain circumstances, interest, or certain types of temporary investments.
Second, in each taxable year we must derive at least 95% of our gross income (excluding gross income from prohibited transactions,
certain hedging transactions, and certain foreign currency gains) from the real property investments described above or dividends,
interest and gain from the sale or disposition of stock or securities, or from any combination of the foregoing. For these purposes,
the term &ldquo;interest&rdquo; generally does not include any amount received or accrued, directly or indirectly, if the determination
of all or some of the amount depends in any way on the income or profits of any person. However, an amount received or accrued
generally will not be excluded from the term &ldquo;interest&rdquo; solely by reason of being based on a fixed percentage or percentages
of receipts or sales.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">Rents we receive from a tenant will qualify
as &ldquo;rents from real property&rdquo; for the purpose of satisfying the gross income requirements for a REIT described above
only if all of the following conditions are met:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>The amount of rent is not based in whole or in part on the income or profits of any person. However, an amount we receive or
accrue generally will not be excluded from the term &ldquo;rents from real property&rdquo; solely because it is based on a fixed
percentage or percentages of receipts or sales;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>Neither we nor an actual or constructive owner of 10% or more of our capital stock actually or constructively owns 10% or more
of the interests in the assets or net profits of a non-corporate tenant, or, if the tenant is a corporation, 10% or more of the
total combined voting power of all classes of stock entitled to vote or 10% or more of the total value of all classes of stock
of the tenant. Rents we receive from such a tenant that is a taxable REIT subsidiary of ours, however, will not be excluded from
the definition of &ldquo;rents from real property&rdquo; as a result of this condition if at least 90% of the space at the property
to which the rents relate is leased to third parties, and the rents paid by the taxable REIT subsidiary are substantially comparable
to rents paid by our other tenants for comparable space. Whether rents paid by a taxable REIT subsidiary are substantially comparable
to rents paid by other tenants is determined at the time the lease with the taxable REIT subsidiary is entered into, extended,
and modified, if such modification increases the rents due under such lease. Notwithstanding the foregoing, however, if a lease
with a &ldquo;controlled taxable REIT subsidiary&rdquo; is modified and such modification results in an increase in the rents payable
by such taxable REIT subsidiary, any such increase will not qualify as &ldquo;rents from real property.&rdquo; For purposes of
this rule, a &ldquo;controlled taxable REIT subsidiary&rdquo; is a taxable REIT subsidiary in which the parent REIT owns stock
possessing more than 50% of the voting power or more than 50% of the total value of the outstanding stock of such taxable REIT
subsidiary;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>Rent attributable to personal property, leased in connection with a lease of real property, is not greater than 15% of the
total rent received under the lease. If this condition is not met, then the portion of the rent attributable to personal property
will not qualify as &ldquo;rents from real property.&rdquo; To the extent that rent attributable to personal property, leased in
connection with a lease of real property, exceeds 15% of the total rent received under the lease, we may transfer a portion of
such personal property to a taxable REIT subsidiary; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>We generally may not operate or manage the property or furnish or render services to our tenants, subject to a 1% de minimis
exception and except as provided below. We may, however, perform services that are &ldquo;usually or customarily rendered&rdquo;
in connection with the rental of space for occupancy only and are not otherwise considered &ldquo;rendered to the occupant&rdquo;
of the property. Examples of these services include the provision of light, heat, or other utilities, trash removal and general
maintenance of common areas. In addition, we may employ an independent contractor from whom we derive no revenue to provide customary
services to our tenants, or a taxable REIT subsidiary (which may be wholly or partially owned by us) to provide both customary
and non-customary services to our tenants without causing the rent we receive from those tenants to fail to qualify as &ldquo;rents
from real property.&rdquo;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 6 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">We generally do not intend to take actions
we believe will cause us to fail to satisfy the rental conditions described above. However, we may intentionally fail to satisfy
some of these conditions to the extent we determine, based on the advice of our tax counsel, that the failure will not jeopardize
our tax status as a REIT. In addition, with respect to the limitation on the rental of personal property, we generally have not
obtained appraisals of the real property and personal property leased to tenants. Accordingly, there can be no assurance that the
IRS will not disagree with our determinations of value.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">From time to time, we may enter into hedging
transactions with respect to one or more of our assets or liabilities. Our hedging activities may include entering into interest
rate swaps, caps, and floors, options to purchase these items, and futures and forward contracts. Income from a hedging transaction,
including gain from the sale or disposition of such a transaction, that is clearly identified as a hedging transaction as specified
in the Code will not constitute gross income under, and thus will be exempt from, the 75% and 95% gross income tests. The term
&ldquo;hedging transaction,&rdquo; as used above, generally means (A) any transaction we enter into in the normal course of our
business primarily to manage risk of (1) interest rate changes or fluctuations with respect to borrowings made or to be made by
us to acquire or carry real estate assets, or (2) currency fluctuations with respect to an item of qualifying income under the
75% or 95% gross income test or any property which generates such income and (B) new transactions entered into to hedge the income
or loss from prior hedging transactions, where the property or indebtedness which was the subject of the prior hedging transaction
was extinguished or disposed of. To the extent that we do not properly identify such transactions as hedges or we hedge with other
types of financial instruments, the income from those transactions is not likely to be treated as qualifying income for purposes
of the gross income tests. We intend to structure any hedging transactions in a manner that does not jeopardize our status as a
REIT.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">From time to time we may own properties
or entities located outside the United States. These acquisitions could cause us to incur foreign currency gains or losses. Any
foreign currency gains, to the extent attributable to specified items of qualifying income or gain, or specified qualifying assets,
however, generally will not constitute gross income for purposes of the 75% and 95% gross income tests, and therefore will be excluded
from these tests.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">To the extent our taxable REIT subsidiaries
pay dividends or interest, our allocable share of such dividend or interest income will qualify under the 95%, but not the 75%,
gross income test (except that our allocable share of such interest would also qualify under the 75% gross income test to the extent
the interest is paid on a loan that is adequately secured by real property).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">We will monitor the amount of the dividend
and other income from our taxable REIT subsidiaries and will take actions intended to keep this income, and any other nonqualifying
income, within the limitations of the gross income tests. Although we expect these actions will be sufficient to prevent a violation
of the gross income tests, we cannot guarantee that such actions will in all cases prevent such a violation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">If we fail to satisfy one or both of the
75% or 95% gross income tests for any taxable year, we may nevertheless qualify as a REIT for the year if we are entitled to relief
under certain provisions of the Code. We generally may make use of the relief provisions if:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>following our identification of the failure to meet the 75% or 95% gross income tests for any taxable year, we file a schedule
with the IRS setting forth each item of our gross income for purposes of the 75% or 95% gross income tests for such taxable year
in accordance with Treasury Regulations to be issued; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>our failure to meet these tests was due to reasonable cause and not due to willful neglect.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">It is not possible, however, to state whether
in all circumstances we would be entitled to the benefit of these relief provisions. For example, if we fail to satisfy the gross
income tests because nonqualifying income that we intentionally accrue or receive exceeds the limits on nonqualifying income, the
IRS could conclude that our failure to satisfy the tests was not due to reasonable cause. If these relief provisions do not apply
to a particular set of circumstances, we will not qualify as a REIT. See &ldquo;&mdash;Failure to Qualify&rdquo; below. As discussed
above in&mdash;General,&rdquo; even if these relief provisions apply, and we retain our status as a REIT, a tax would be imposed
with respect to our nonqualifying income. We may not always be able to comply with the gross income tests for REIT qualification
despite periodic monitoring of our income.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"></P>

<!-- Field: Page; Sequence: 7 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B><I>Prohibited Transaction Income</I></B>.
Any gain that we realize on the sale of property (other than any foreclosure property) held as inventory or otherwise held primarily
for sale to customers in the ordinary course of business, including any gain realized by our qualified REIT subsidiaries and our
share of any gain realized by any of the partnerships in which we own an interest, will be treated as income from a prohibited
transaction that is subject to a 100% penalty tax, unless certain safe harbor exceptions apply. This prohibited transaction income
may also adversely affect our ability to satisfy the gross income tests for qualification as a REIT. Under existing law, whether
property is held as inventory or primarily for sale to customers in the ordinary course of a trade or business is a question of
fact that depends on all the facts and circumstances surrounding the particular transaction. We intend to hold our properties for
investment with a view to long-term appreciation, to engage in the business of acquiring, developing and owning our properties
and to make occasional sales of the properties as are consistent with our investment objectives. We do not intend, and do not intend
to permit any of the partnerships in which we own an interest, to enter into any sales that are prohibited transactions. However,
the IRS may successfully contend that some or all of the sales made by us or our subsidiary partnerships are prohibited transactions.
We would be required to pay the 100% penalty tax on our allocable share of the gains resulting from any such sales. The 100% penalty
tax will not apply to gains from the sale of assets that are held through a taxable REIT subsidiary, but such income will be subject
to regular U.S. federal corporate income tax.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B><I>Penalty Tax</I></B>. Any redetermined
rents, redetermined deductions, excess interest or redetermined TRS service income we generate will be subject to a 100% penalty
tax. In general, redetermined rents are rents from real property that are overstated as a result of any services furnished to any
of our tenants by a taxable REIT subsidiary of ours, redetermined deductions and excess interest represent any amounts that are
deducted by a taxable REIT subsidiary of ours for amounts paid to us that are in excess of the amounts that would have been deducted
based on arm&rsquo;s length negotiations, and redetermined TRS service income is income of a taxable REIT subsidiary that is understated
as a result of services provided to us or on our behalf. Rents we receive will not constitute redetermined rents if they qualify
for certain safe harbor provisions contained in the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">We do not believe we have been, and do
not expect to be, subject to this penalty tax, although any rental or service arrangements we enter into from time to time may
not satisfy the safe-harbor provisions described above. These determinations are inherently factual, and the IRS has broad discretion
to assert that amounts paid between related parties should be reallocated to clearly reflect their respective incomes. If the IRS
successfully made such an assertion, we would be required to pay a 100% penalty tax on any overstated rents paid to us, or any
excess deductions or understated income of our taxable REIT subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B><I>Asset Tests</I></B>. At the close
of each calendar quarter of our taxable year, we must also satisfy certain tests relating to the nature and diversification of
our assets. First, at least 75% of the value of our total assets must be represented by real estate assets, cash, cash items and
U.S. government securities. For purposes of this test, the term &ldquo;real estate assets&rdquo; generally means real property
(including interests in real property and interests in mortgages on real property or on both real property and, to a limited extent,
personal property), shares (or transferable certificates of beneficial interest) in other REITs, any stock or debt instrument attributable
to the investment of the proceeds of a stock offering or a public offering of debt with a term of at least five years (but only
for the one-year period beginning on the date the REIT receives such proceeds), debt instruments of publicly offered REITs, and
personal property leased in connection with a lease of real property for which the rent attributable to personal property is not
greater than 15% of the total rent received under the lease.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">Second, not more than 25% of the value
of our total assets may be represented by securities (including securities of taxable REIT subsidiaries), other than those securities
includable in the 75% asset test.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">Third, of the investments included in the
25% asset class, and except for certain investments in other REITs, our qualified REIT subsidiaries and taxable REIT subsidiaries,
the value of any one issuer&rsquo;s securities may not exceed 5% of the value of our total assets , and we may not own more than
10% of the total vote or value of the outstanding securities of any one issuer. Certain types of securities we may own are disregarded
as securities solely for purposes of the 10% value test, including, but not limited to, securities satisfying the &ldquo;straight
debt&rdquo; safe harbor, securities issued by a partnership that itself would satisfy the 75% income test if it were a REIT, any
loan to an individual or an estate, any obligation to pay rents from real property and any security issued by a REIT. In addition,
solely for purposes of the 10% value test, the determination of our interest in the assets of a partnership in which we own an
interest will be based on our proportionate interest in any securities issued by the partnership, excluding for this purpose certain
securities described in the Code. From time to time we may own securities (including debt securities) of issuers that do not qualify
as a REIT, a qualified REIT subsidiary or a taxable REIT subsidiary. We intend that our ownership of any such securities will be
structured in a manner that allows us to comply with the asset tests described above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"></P>

<!-- Field: Page; Sequence: 8 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">Fourth, not more than 20% (25% for taxable
years beginning after July 30, 2008 and before January 1, 2018) of the value of our total assets may be represented by the securities
of one or more taxable REIT subsidiaries. We currently own 100% of the stock of certain corporations that have elected, together
with us, to be treated as our taxable REIT subsidiaries, and we may acquire securities in additional taxable REIT subsidiaries
in the future. So long as each of these companies qualifies as a taxable REIT subsidiary of ours, we will not be subject to the
5% asset test, the 10% voting securities limitation or the 10% value limitation with respect to our ownership of the securities
of such companies. We believe that the aggregate value of our taxable REIT subsidiaries has not exceeded, and in the future will
not exceed, 20% (25% for taxable years beginning after July 30, 2008 and before January 1, 2018) of the aggregate value of our
gross assets. We generally do not obtain independent appraisals to support these conclusions. In addition, there can be no assurance
that the IRS will not disagree with our determinations of value.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">Fifth, not more than 25% of the value of
our total assets may be represented by debt instruments of publicly offered REITs to the extent those debt instruments would not
be real estate assets but for the inclusion of debt instruments of publicly offered REITs in the meaning of real estate assets,
as described above (e.g., a debt instrument issued by a publicly offered REIT that is not secured by a mortgage on real property).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">The asset tests must be satisfied at the
close of each calendar quarter of our taxable year in which we (directly or through our qualified REIT subsidiaries or partnerships)
acquire securities in the applicable issuer, and also at the close of each calendar quarter in which we increase our ownership
of securities of such issuer (including as a result of an increase in our interest in any partnership that owns such securities).
For example, our indirect ownership of securities of each issuer may increase as a result of our capital contributions to, or the
redemption of other partners&rsquo; interests in, a partnership in which we have an ownership interest. Also, after initially meeting
the asset tests at the close of any quarter, we will not lose our status as a REIT for failure to satisfy the asset tests at the
end of a later quarter solely by reason of changes in asset values. If we fail to satisfy an asset test because we acquire securities
or other property during a quarter (including as a result of an increase in our interest in any partnership), we may cure this
failure by disposing of sufficient nonqualifying assets within 30 days after the close of that quarter. We believe that we have
maintained, and we intend to maintain, adequate records of the value of our assets to ensure compliance with the asset tests. If
we fail to cure any noncompliance with the asset tests within the 30-day cure period, we would cease to qualify as a REIT unless
we are eligible for certain relief provisions discussed below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">Certain relief provisions may be available
to us if we discover a failure to satisfy the asset tests described above after the 30-day cure period. Under these provisions,
we will be deemed to have met the 5% and 10% asset tests if the value of our nonqualifying assets (i) does not exceed the lesser
of (a) 1% of the total value of our assets at the end of the applicable quarter or (b) $10,000,000, and (ii) we dispose of the
nonqualifying assets or otherwise satisfy such tests within (a) six months after the last day of the quarter in which the failure
to satisfy the asset tests is discovered or (b) the period of time prescribed by Treasury Regulations to be issued. For violations
of any of the asset tests due to reasonable cause and not due to willful neglect and that are, in the case of the 5% and 10% asset
tests, in excess of the de minimis exception described above, we may avoid disqualification as a REIT after the 30-day cure period
by taking steps including (i) the disposition of sufficient nonqualifying assets, or the taking of other actions, which allow us
to meet the asset tests within (a) six months after the last day of the quarter in which the failure to satisfy the asset tests
is discovered or (b) the period of time prescribed by Treasury Regulations to be issued, (ii) paying a tax equal to the greater
of (a) $50,000 or (b) the U.S. federal corporate income tax rate multiplied by the net income generated by the nonqualifying assets,
and (iii) disclosing certain information to the IRS.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"></P>

<!-- Field: Page; Sequence: 9 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">Although we believe we have satisfied the
asset tests described above and plan to take steps to ensure that we satisfy such tests for any quarter with respect to which retesting
is to occur, there can be no assurance that we will always be successful, or will not require a reduction in our overall interest
in an issuer (including in a taxable REIT subsidiary). If we fail to cure any noncompliance with the asset tests in a timely manner,
and the relief provisions described above are not available, we would cease to qualify as a REIT.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B><I>Annual Distribution Requirements</I></B>.
To maintain our qualification as a REIT, we are required to distribute dividends, other than capital gain dividends, to our stockholders
each year in an amount at least equal to the sum of:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>90% of our REIT taxable income; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>90% of our after-tax net income from foreclosure property, if any; minus</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>the excess of the sum of certain items of non-cash income over 5% of our REIT taxable income.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">For these purposes, our REIT taxable income
is computed without regard to the dividends paid deduction and our net capital gain. In addition, for purposes of this test, non-cash
income generally means income attributable to leveled stepped rents, original issue discount, cancellation of indebtedness, or
a like-kind exchange that is later determined to be taxable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">In addition, our REIT taxable income will
be reduced by any taxes we are required to pay on any gain we recognize from the disposition of any asset we acquired from a corporation
that is or has been a C corporation in a transaction in which our tax basis in the asset is less than the fair market value of
the asset, in each case determined as of the date on which we acquired the asset, within the five-year period following our acquisition
of such asset, as described above under &ldquo;&mdash;General.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><FONT STYLE="color: #231F20">For taxable
years beginning after December 31, 2017, and except as provided below, a taxpayer&rsquo;s deduction for net business interest expense
will generally be limited to 30% of its taxable income, as adjusted for certain items of income, gain, deduction or loss. For any
taxable year beginning in 2019 or 2020, the 30% limitation has been increased to a 50% limitation, provided that for partnerships
the 50% limitation applies for any taxable year beginning in 2020 only. Taxpayers may elect to use their 2019 adjusted taxable
income for purposes of computing their 2020 limitation. Any business interest deduction that is disallowed due to this limitation
may be carried forward to future taxable years, subject to special rules applicable to partnerships. </FONT>If we or any of our
subsidiary partnerships are subject to this interest expense limitation, our REIT taxable income for a taxable year may be increased.
Taxpayers that conduct certain real estate businesses may elect not to have this interest expense limitation apply to them, provided
that they use an alternative depreciation system to depreciate certain property. We believe that we or any of our subsidiary partnerships
that are subject to this interest expense limitation will be eligible to make this election. If such election is made, although
we or such subsidiary partnership, as applicable, would not be subject to the interest expense limitation described above, depreciation
deductions may be reduced and, as a result, our REIT taxable income for a taxable year may be increased.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">We generally must pay, or be treated as
paying, the distributions described above in the taxable year to which they relate. At our election, a distribution will be treated
as paid in a taxable year if it is declared before we timely file our tax return for such year and paid on or before the first
regular dividend payment after such declaration, provided such payment is made during the 12-month period following the close of
such year. These distributions are treated as received by our stockholders in the year in which they are paid. This is so even
though these distributions relate to the prior year for purposes of the 90% distribution requirement. In order to be taken into
account for purposes of our distribution requirement, except as provided below, the amount distributed must not be preferential&mdash;i.e.,
every stockholder of the class of stock to which a distribution is made must be treated the same as every other stockholder of
that class, and no class of stock may be treated other than according to its dividend rights as a class. This preferential dividend
limitation will not apply to distributions made by us, provided we qualify as a &ldquo;publicly offered REIT.&rdquo; We believe
that we are, and expect we will continue to be, a &ldquo;publicly offered REIT.&rdquo; To the extent that we do not distribute
all of our net capital gain, or distribute at least 90%, but less than 100%, of our REIT taxable income, as adjusted, we will be
required to pay regular U.S. federal corporate income tax on the undistributed amount. We believe that we have made, and we intend
to continue to make, timely distributions sufficient to satisfy these annual distribution requirements and to minimize our corporate
tax obligations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"></P>

<!-- Field: Page; Sequence: 10 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">We expect that our REIT taxable income
will be less than our cash flow because of depreciation and other non-cash charges included in computing REIT taxable income. Accordingly,
we anticipate that we generally will have sufficient cash or liquid assets to enable us to satisfy the distribution requirements
described above. However, from time to time, we may not have sufficient cash or other liquid assets to meet these distribution
requirements due to timing differences between the actual receipt of income and actual payment of deductible expenses, and the
inclusion of income and deduction of expenses in determining our taxable income. In addition, we may decide to retain our cash,
rather than distribute it, in order to repay debt or for other reasons. If these timing differences occur, we may borrow funds
to pay dividends or pay dividends in the form of taxable stock distributions in order to meet the distribution requirements, while
preserving our cash.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">Under some circumstances, we may be able
to rectify an inadvertent failure to meet the 90% distribution requirement for a year by paying &ldquo;deficiency dividends&rdquo;
to our stockholders in a later year, which may be included in our deduction for dividends paid for the earlier year. In that case,
we may be able to avoid being taxed on amounts distributed as deficiency dividends, subject to the 4% excise tax described below.
However, we will be required to pay interest to the IRS based upon the amount of any deduction claimed for deficiency dividends.
While the payment of a deficiency dividend will apply to a prior year for purposes of our REIT distribution requirements, it will
be treated as an additional distribution to our stockholders in the year such dividend is paid.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">Furthermore, we will be required to pay
a 4% excise tax to the extent we fail to distribute during each calendar year at least the sum of 85% of our ordinary income for
such year, 95% of our capital gain net income for the year and any undistributed taxable income from prior periods. Any ordinary
income and net capital gain on which corporate income tax is imposed for any year is treated as an amount distributed during that
year for purposes of calculating this excise tax.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">For purposes of the 90% distribution requirement
and excise tax described above, dividends declared during the last three months of the taxable year, payable to stockholders of
record on a specified date during such period and paid during January of the following year, will be treated as paid by us and
received by our stockholders on December 31 of the year in which they are declared.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B><I>Like-Kind Exchanges</I></B>. We may
dispose of real property that is not held primarily for sale in transactions intended to qualify as like-kind exchanges under the
Code. Such like-kind exchanges are intended to result in the deferral of gain for U.S. federal income tax purposes. The failure
of any such transaction to qualify as a like-kind exchange could require us to pay U.S. federal income tax, possibly including
the 100% prohibited transaction tax, or deficiency dividends, depending on the facts and circumstances surrounding the particular
transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B><I>Tax Liabilities and Attributes Inherited
in Connection with Acquisitions</I></B>. From time to time, we may acquire other corporations or entities and, in connection with
such acquisitions, we may succeed to the historical tax attributes and liabilities of such entities. For example, if we acquire
a C corporation and subsequently dispose of its assets within five years of the acquisition, we could be required to pay the built-in
gain tax described above under &ldquo;&mdash;General.&rdquo; In addition, in order to qualify as a REIT, at the end of any taxable
year, we must not have any earnings and profits accumulated in a non-REIT year. As a result, if we acquire a C corporation, we
must distribute the corporation&rsquo;s earnings and profits accumulated prior to the acquisition before the end of the taxable
year in which we acquire the corporation. We also could be required to pay the acquired entity&rsquo;s unpaid taxes even though
such liabilities arose prior to the time we acquired the entity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">Moreover, we may from time to time acquire
other REITs through a merger or acquisition. If any such REIT failed to qualify as a REIT for any of its taxable years, such REIT
would be liable for (and we, as the surviving corporation in the merger or acquisition, would be obligated to pay) regular U.S.
federal corporate income tax on its taxable income for such taxable years. In addition, if such REIT was a C corporation at the
time of the merger or acquisition, the tax consequences described in the preceding paragraph generally would apply. If such REIT
failed to qualify as a REIT for any of its previous taxable years, but qualified as a REIT at the time of such merger or acquisition,
and we acquired such REIT&rsquo;s assets in a transaction in which our tax basis in the assets of such REIT is determined, in whole
or in part, by reference to such REIT&rsquo;s tax basis in such assets, we generally would be subject to tax on the built-in gain
on each asset of such REIT as described above if we were to dispose of the asset in a taxable transaction during the five-year
period following such REIT&rsquo;s requalification as a REIT, subject to certain exceptions. Moreover, even if such REIT qualified
as a REIT at all relevant times, we would similarly be liable for other unpaid taxes (if any) of such REIT (such as the 100% tax
on gains from any sales treated as &ldquo;prohibited transactions&rdquo; as described above under &ldquo;&mdash;Prohibited Transaction
Income&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"></P>

<!-- Field: Page; Sequence: 11 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">Furthermore, after our acquisition of another
corporation or entity, the asset and income tests will apply to all of our assets, including the assets we acquire from such corporation
or entity, and to all of our income, including the income derived from the assets we acquire from such corporation or entity. As
a result, the nature of the assets that we acquire from such corporation or entity and the income we derive from those assets may
have an effect on our tax status as a REIT.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B><I>Foreclosure Property</I></B>. The
foreclosure property rules permit us (by our election) to foreclose or repossess properties without being disqualified as a REIT
as a result of receiving income that does not qualify under the gross income tests. However, in such a case, we would be subject
to the U.S. federal corporate income tax on the net non-qualifying income from the &ldquo;foreclosure property,&rdquo; and the
after-tax amount would increase the dividends we would be required to distribute to stockholders. See &ldquo;&mdash;Annual Distribution
Requirements.&rdquo; This corporate tax would not apply to income that qualifies under the REIT 75% income test.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">Foreclosure property treatment is generally
available for an initial period of three years and may, in certain circumstances, be extended for an additional three years. However,
foreclosure property treatment will end on the first day on which we enter into a lease of the applicable property that will give
rise to income that does not qualify under the REIT 75% income test, but will not end if the lease will give rise only to qualifying
income under such test. Foreclosure property treatment also will end if any construction takes place on the property (other than
completion of a building or other improvement that was more than 10% complete before default became imminent).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B><I>Failure to Qualify</I></B>. If we
discover a violation of a provision of the Code that would result in our failure to qualify as a REIT, certain specified cure provisions
may be available to us. Except with respect to violations of the gross income tests and asset tests (for which the cure provisions
are described above), and provided the violation is due to reasonable cause and not due to willful neglect, these cure provisions
generally impose a $50,000 penalty for each violation in lieu of a loss of REIT status. If we fail to satisfy the requirements
for taxation as a REIT in any taxable year, and the relief provisions do not apply, we will be required to pay regular U.S. federal
corporate income tax, including any applicable alternative minimum tax for taxable years beginning before January 1, 2018, on our
taxable income. Distributions to stockholders in any year in which we fail to qualify as a REIT will not be deductible by us. As
a result, we anticipate that our failure to qualify as a REIT would reduce the cash available for distribution by us to our stockholders.
In addition, if we fail to qualify as a REIT, we will not be required to distribute any amounts to our stockholders and all distributions
to stockholders will be taxable as regular corporate dividends to the extent of our current and accumulated earnings and profits.
In such event, corporate distributees may be eligible for the dividends-received deduction. In addition, non-corporate stockholders,
including individuals, may be eligible for the preferential tax rates on qualified dividend income. Non-corporate stockholders,
including individuals, generally may deduct up to 20% of dividends from a REIT, other than capital gain dividends and dividends
treated as qualified dividend income, for taxable years beginning before January 1, 2026 for purposes of determining their U.S.
federal income tax (but not for purposes of the 3.8% Medicare tax), subject to certain holding period requirements and other limitations.
If we fail to qualify as a REIT, such stockholders may not claim this deduction with respect to dividends paid by us. Unless entitled
to relief under specific statutory provisions, we would also be ineligible to elect to be treated as a REIT for the four taxable
years following the year for which we lose our qualification. It is not possible to state whether in all circumstances we would
be entitled to this statutory relief.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Tax Aspects of the Subsidiary Partnerships and the Limited
Liability Companies </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B><I>General</I></B>. From time to time,
we may own, directly or indirectly, interests in various partnerships and limited liability companies. We expect these will be
treated as partnerships or disregarded entities for U.S. federal income tax purposes. In general, entities that are treated as
partnerships or disregarded entities for U.S. federal income tax purposes are &ldquo;pass-through&rdquo; entities which are not
required to pay U.S. federal income tax. Rather, partners of such partnerships are allocated their shares of the items of income,
gain, loss, deduction and credit of the partnership, and are potentially required to pay tax on this income, without regard to
whether they receive a distribution from the partnership. We will include in our income our share of these partnership items for
purposes of the various gross income tests, the computation of our REIT taxable income, and the REIT distribution requirements.
Moreover, for purposes of the asset tests, we will include our pro rata share of assets held by these partnerships, based on our
capital interests in each such entity. See &ldquo;&mdash;Taxation of Our Company&mdash;Ownership of Interests in Partnerships,
Limited Liability Companies and Qualified REIT Subsidiaries.&rdquo; A disregarded entity is not treated as a separate entity for
U.S. federal income tax purposes, and all assets, liabilities and items of income, gain, loss, deduction and credit of a disregarded
entity are treated as assets, liabilities and items of income, gain, loss, deduction and credit of its parent that is not a disregarded
entity for all purposes under the Code, including all REIT qualification tests.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"></P>

<!-- Field: Page; Sequence: 12 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B><I>Entity Classification</I></B>. Our
interests in the subsidiary partnerships and limited liability companies involve special tax considerations, including the possibility
that the IRS might challenge the status of these entities as partnerships or disregarded entities for U.S. federal income tax purposes.
For example, an entity that would otherwise be treated as a partnership for U.S. federal income tax purposes may nonetheless be
taxable as a corporation if it is a &ldquo;publicly traded partnership&rdquo; and certain other requirements are met. A partnership
would be treated as a publicly traded partnership if its interests are traded on an established securities market or are readily
tradable on a secondary market or a substantial equivalent thereof, within the meaning of applicable Treasury Regulations. We do
not anticipate that any subsidiary partnership will be treated as a publicly traded partnership that is taxable as a corporation.
However, if any such entity were treated as a corporation, it would be required to pay an entity-level tax on its income. In this
situation, the character of our assets and items of gross income would change and could prevent us from satisfying the REIT asset
tests and possibly the REIT income tests. See &ldquo;&mdash;Taxation of Our Company&mdash;Asset Tests&rdquo; and &ldquo;&mdash;Income
Tests.&rdquo; This, in turn, could prevent us from qualifying as a REIT. See &ldquo;&mdash;Taxation of Our Company&mdash;Failure
to Qualify&rdquo; for a discussion of the effect of our failure to meet these tests. In addition, a change in the tax status of
a subsidiary treated as a partnership or disregarded entity to a corporation might be treated as a taxable event. If so, we might
incur a tax liability without any related cash payment. We believe that each of our partnerships and limited liability companies
are and will continue to be treated as partnerships or disregarded entities for U.S. federal income tax purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B><I>Allocations of Items of Income, Gain,
Loss and Deduction</I></B>. A partnership agreement (or, in the case of a limited liability company treated as a partnership for
U.S. federal income tax purposes, the limited liability company agreement) generally will determine the allocation of income and
loss among partners. These allocations, however, will be disregarded for tax purposes if they do not comply with the provisions
of Section 704(b) of the Code and the Treasury Regulations thereunder. Generally, Section 704(b) of the Code and the Treasury Regulations
thereunder require that partnership allocations respect the economic arrangement of the partners. If an allocation of partnership
income or loss does not comply with the requirements of Section 704(b) of the Code and the Treasury Regulations thereunder, the
item subject to the allocation will be reallocated in accordance with the partners&rsquo; interests in the partnership. This reallocation
will be determined by taking into account all of the facts and circumstances relating to the economic arrangement of the partners
with respect to such item. We intend that the allocations of taxable income and loss in each of the partnerships in which we own
an interest from time to time comply with the requirements of Section 704(b) of the Code and the Treasury Regulations thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B><I>Tax Allocations With Respect to the
Properties</I></B>. Under Section 704(c) of the Code, items of income, gain, loss and deduction attributable to appreciated or
depreciated property that is contributed to a partnership in exchange for an interest in the partnership must be allocated in a
manner so that the contributing partner is charged with the unrealized gain or benefits from the unrealized loss associated with
the property at the time of the contribution. The amount of the unrealized gain or unrealized loss generally is equal to the difference
between the fair market value or book value and the adjusted tax basis of the contributed property at the time of contribution
(this difference is referred to as a book-tax difference), as adjusted from time to time. These allocations are solely for U.S.
federal income tax purposes and do not affect the book capital accounts or other economic or legal arrangements among the partners.
Some of the partnerships in which we own an interest were formed by way of contributions of appreciated property. The relevant
partnership and/or limited liability company agreements require that allocations be made in a manner consistent with Section 704(c)
of the Code. Under Section 704(c) of the Code we could be allocated less depreciation or more gain on sale with respect to a contributed
property than the amounts that would have been allocated to us if we had instead acquired the contributed property with an initial
tax basis equal to its fair market value. Such allocations might adversely affect our ability to comply with the REIT distribution
requirements. See &ldquo;&mdash;Taxation of Our Company&mdash;Requirements for Qualification as a REIT&rdquo; and &ldquo;&mdash;Annual
Distribution Requirements.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"></P>

<!-- Field: Page; Sequence: 13 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">Any property acquired by a subsidiary partnership
in a taxable transaction will initially have a tax basis equal to its fair market value, and Section 704(c) of the Code generally
will not apply.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B><I>Partnership Audit Rules</I></B><I>.</I>
The Bipartisan Budget Act of 2015 changed the rules applicable to U.S. federal income tax audits of partnerships. Under the new
rules, among other changes and subject to certain exceptions, any audit adjustment to items of income, gain, loss, deduction, or
credit of a partnership (and any partner&rsquo;s distributive share thereof) is determined, and taxes, interest, or penalties attributable
thereto are assessed and collected, at the partnership level. It is possible that these rules could result in partnerships in which
we directly or indirectly invest being required to pay additional taxes, interest and penalties as a result of an audit adjustment,
and we, as a direct or indirect partner of these partnerships, could be required to bear the economic burden of those taxes, interest,
and penalties even though we, as a REIT, may not otherwise have been required to pay additional corporate-level taxes as a result
of the related audit adjustment.&nbsp;Investors are urged to consult their tax advisors with respect to these changes and their
potential impact on their investment in our capital stock or debt securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Material U.S. Federal Income Tax Consequences to Holders
of Our Capital Stock and Debt Securities </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">The following discussion is a summary of
the material U.S. federal income tax consequences to you of acquiring, owning and disposing of our capital stock or debt securities.
This discussion is limited to holders who hold our capital stock or debt securities as &ldquo;capital assets&rdquo; within the
meaning of Section 1221 of the Code (generally, property held for investment). This discussion does not address all U.S. federal
income tax consequences relevant to a holder&rsquo;s particular circumstances. In addition, except where specifically noted, it
does not address consequences relevant to holders subject to special rules, including, without limitation:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>U.S. expatriates and former citizens or long-term residents of the United States;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>persons subject to the alternative minimum tax;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>U.S. holders (as defined below) whose functional currency is not the U.S. dollar;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>persons holding our capital stock or debt securities as part of a hedge, straddle or other risk reduction strategy or as part
of a conversion transaction or other integrated investment;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>banks, insurance companies, and other financial institutions;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>REITs or regulated investment companies;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>brokers, dealers or traders in securities;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>&ldquo;controlled foreign corporations,&rdquo; &ldquo;passive foreign investment companies,&rdquo; and corporations that accumulate
earnings to avoid U.S. federal income tax;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>S corporations, partnerships or other entities or arrangements treated as partnerships for U.S. federal income tax purposes
(and investors therein);</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>tax-exempt organizations or governmental organizations;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>persons subject to special tax accounting rules as a result of any item of gross income with respect to our capital stock or
debt securities being taken into account in an applicable financial statement;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>persons deemed to sell our capital stock or debt securities under the constructive sale provisions of the Code; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>persons who hold or receive our capital stock pursuant to the exercise of any employee stock option or otherwise as compensation.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B>THIS DISCUSSION IS FOR INFORMATIONAL
PURPOSES ONLY AND IS NOT INTENDED AS TAX ADVICE. INVESTORS SHOULD CONSULT THEIR TAX ADVISORS WITH RESPECT TO THE APPLICATION OF
THE U.S. FEDERAL INCOME TAX LAWS TO THEIR PARTICULAR SITUATIONS AS WELL AS ANY TAX CONSEQUENCES OF THE ACQUISITION, OWNERSHIP AND
DISPOSITION OF OUR CAPITAL STOCK OR DEBT SECURITIES ARISING UNDER OTHER U.S. FEDERAL TAX LAWS (INCLUDING ESTATE AND GIFT TAX LAWS),
UNDER THE LAWS OF ANY STATE, LOCAL OR NON-U.S. TAXING JURISDICTION OR UNDER ANY APPLICABLE TAX TREATY.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"></P>

<!-- Field: Page; Sequence: 14 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">For purposes of this discussion, a &ldquo;U.S.
holder&rdquo; is a beneficial owner of our capital stock or debt securities that, for U.S. federal income tax purposes, is or is
treated as:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>an individual who is a citizen or resident of the United States;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>a corporation created or organized under the laws of the United States, any state thereof, or the District of Columbia;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>an estate, the income of which is subject to U.S. federal income tax regardless of its source; or</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>a trust that (1) is subject to the primary supervision of a U.S. court and the control of one or more &ldquo;United States
persons&rdquo; (within the meaning of Section 7701(a)(30) of the Code) or (2) has a valid election in effect to be treated as a
United States person for U.S. federal income tax purposes.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">For purposes of this discussion, a &ldquo;non-U.S.
holder&rdquo; is any beneficial owner of our capital stock or debt securities that is neither a U.S. holder nor an entity treated
as a partnership for U.S. federal income tax purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">If an entity treated as a partnership for
U.S. federal income tax purposes holds our capital stock or debt securities, the tax treatment of a partner in the partnership
will depend on the status of the partner, the activities of the partnership and certain determinations made at the partner level.
Accordingly, partnerships holding our capital stock or debt securities and the partners in such partnerships should consult their
tax advisors regarding the U.S. federal income tax consequences to them.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Taxation of Taxable U.S. Holders of Our Capital Stock </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B><I>Distributions Generally</I>.</B>&nbsp;Distributions
out of our current or accumulated earnings and profits will be treated as dividends and, other than with respect to capital gain
dividends and certain amounts which have previously been subject to corporate level tax, as discussed below, will be taxable to
our taxable U.S. holders as ordinary income when actually or constructively received. See &ldquo;&mdash;Tax Rates&rdquo; below.
As long as we qualify as a REIT, these distributions will not be eligible for the dividends-received deduction in the case of U.S.
holders that are corporations or, except to the extent described in &ldquo;&mdash;Tax Rates&rdquo; below, the preferential rates
on qualified dividend income applicable to non-corporate U.S. holders, including individuals. For purposes of determining whether
distributions to holders of our capital stock are out of our current or accumulated earnings and profits, our earnings and profits
will be allocated first to our outstanding preferred stock, if any, and then to our outstanding common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">To the extent that we make distributions
on our capital stock in excess of our current and accumulated earnings and profits allocable to such stock, these distributions
will be treated first as a tax-free return of capital to a U.S. holder to the extent of the U.S. holder&rsquo;s adjusted tax basis
in such shares of stock. This treatment will reduce the U.S. holder&rsquo;s adjusted tax basis in such shares of stock by the amount
of the excess of the distribution over our current and accumulated earnings and profits allocable to such stock, but not below
zero. Distributions in excess of our current and accumulated earnings and profits and in excess of a U.S. holder&rsquo;s adjusted
tax basis in its shares will be taxable as capital gain. Such gain will be taxable as long-term capital gain if the shares have
been held for more than one year. Dividends we declare in October, November, or December of any year and which are payable to a
holder of record on a specified date in any of these months will be treated as both paid by us and received by the holder on December&nbsp;31
of that year, provided we actually pay the dividend on or before January&nbsp;31 of the following year. U.S. holders may not include
in their own income tax returns any of our net operating losses or capital losses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B><I>Capital Gain Dividends</I>.</B>&nbsp;Dividends
that we properly designate as capital gain dividends will be taxable to our taxable U.S. holders as a gain from the sale or disposition
of a capital asset held for more than one year, to the extent that such gain does not exceed our actual net capital gain for the
taxable year and may not exceed our dividends paid for the taxable year, including dividends paid the following year that are treated
as paid in the current year. U.S. holders that are corporations may, however, be required to treat up to 20% of certain capital
gain dividends as ordinary income. If we properly designate any portion of a dividend as a capital gain dividend, then, except
as otherwise required by law, we presently intend to allocate a portion of the total capital gain dividends paid or made available
to holders of all classes of our capital stock for the year to the holders of each class of our capital stock in proportion to
the amount that our total dividends, as determined for U.S. federal income tax purposes, paid or made available to the holders
of each such class of our capital stock for the year bears to the total dividends, as determined for U.S. federal income tax purposes,
paid or made available to holders of all classes of our capital stock for the year. In addition, except as otherwise required by
law, we will make a similar allocation with respect to any undistributed long-term capital gains which are to be included in our
stockholders&rsquo; long-term capital gains, based on the allocation of the capital gain amount which would have resulted if those
undistributed long-term capital gains had been distributed as &ldquo;capital gain dividends&rdquo; by us to our stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"></P>

<!-- Field: Page; Sequence: 15 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B><I>Retention of Net Capital Gains</I>.</B>&nbsp;We
may elect to retain, rather than distribute as a capital gain dividend, all or a portion of our net capital gains. If we make this
election, we would pay tax on our retained net capital gains. In addition, to the extent we so elect, our earnings and profits
(determined for U.S. federal income tax purposes) would be adjusted accordingly, and a U.S. holder generally would:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>include its pro rata share of our undistributed capital gain in computing its long-term capital gains in its return for its
taxable year in which the last day of our taxable year falls, subject to certain limitations as to the amount that is includable;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>be deemed to have paid its share of the capital gains tax imposed on us on the designated amounts included in the U.S. holder&rsquo;s
income as long-term capital gain;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>receive a credit or refund for the amount of tax deemed paid by it;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>increase the adjusted tax basis of its capital stock by the difference between the amount of includable gains and the tax deemed
to have been paid by it; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>in the case of a U.S. holder that is a corporation, appropriately adjust its earnings and profits for the retained capital
gains in accordance with Treasury Regulations to be promulgated by the IRS.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B><I>Passive Activity Losses and Investment
Interest Limitations</I>.</B>&nbsp;Distributions we make and gain arising from the sale or exchange by a U.S. holder of our capital
stock will not be treated as passive activity income. As a result, U.S. holders generally will not be able to apply any &ldquo;passive
losses&rdquo; against this income or gain. A U.S. holder generally may elect to treat capital gain dividends, capital gains from
the disposition of our capital stock and income designated as qualified dividend income, as described in &ldquo;&mdash;Tax Rates&rdquo;
below, as investment income for purposes of computing the investment interest limitation, but in such case, the holder will be
taxed at ordinary income rates on such amount. Other distributions made by us, to the extent they do not constitute a return of
capital, generally will be treated as investment income for purposes of computing the investment interest limitation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B><I>Dispositions of Our Capital Stock</I>.</B>
Except as described below under &ldquo;&mdash;Taxation of Taxable U.S. Holders of Our Capital Stock&mdash;Redemption or Repurchase
by Us,&rdquo; if a U.S. holder sells or disposes of shares of our capital stock, it will recognize gain or loss for U.S. federal
income tax purposes in an amount equal to the difference between the amount of cash and the fair market value of any property received
on the sale or other disposition and the holder&rsquo;s adjusted tax basis in the shares. This gain or loss, except as provided
below, will be long-term capital gain or loss if the holder has held such capital stock for more than one year. However, if a U.S.
holder recognizes a loss upon the sale or other disposition of capital stock that it has held for six months or less, after applying
certain holding period rules, the loss recognized will be treated as a long-term capital loss to the extent the U.S. holder received
distributions from us which were required to be treated as long-term capital gains.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B><I>Redemption or Repurchase by Us</I>.</B>&nbsp;A
redemption or repurchase of shares of our capital stock will be treated under Section&nbsp;302 of the Code as a distribution (and
taxable as a dividend to the extent of our current and accumulated earnings and profits as described above under &ldquo;&mdash;Distributions
Generally&rdquo;) unless the redemption or repurchase satisfies one of the tests set forth in Section&nbsp;302(b) of the Code and
is therefore treated as a sale or exchange of the redeemed or repurchased shares. The redemption or repurchase generally will be
treated as a sale or exchange if it:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>is &ldquo;substantially disproportionate&rdquo; with respect to the U.S. holder,</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 16 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>results in a &ldquo;complete redemption&rdquo; of the U.S. holder&rsquo;s stock interest in us, or</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>is &ldquo;not essentially equivalent to a dividend&rdquo; with respect to the U.S. holder,</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">all within the meaning of Section&nbsp;302(b) of the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In determining whether any of these tests has been met, shares
of our capital stock, including common stock and other equity interests in us, considered to be owned by the U.S. holder by reason
of certain constructive ownership rules set forth in the Code, as well as shares of our capital stock actually owned by the U.S.
holder, generally must be taken into account. Because the determination as to whether any of the alternative tests of Section&nbsp;302(b)
of the Code will be satisfied with respect to the U.S. holder depends upon the facts and circumstances at the time that the determination
must be made, U.S. holders are advised to consult their tax advisors to determine such tax treatment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; color: #231F20">If a redemption or repurchase
of shares of our capital stock is treated as a distribution, the amount of the distribution will be measured by the amount of cash
and the fair market value of any property received. See &ldquo;&mdash;Distributions Generally.&rdquo; A U.S. holder&rsquo;s adjusted
tax basis in the redeemed or repurchased shares generally will be transferred to the holder&rsquo;s remaining shares of our capital
stock, if any. If a U.S. holder owns no other shares of our capital stock, under certain circumstances, such basis may be transferred
to a related person or it may be lost entirely. Prospective investors should consult their tax advisors regarding the U.S. federal
income tax consequences of a redemption or repurchase of our capital stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">If a redemption or repurchase of shares
of our capital stock is not treated as a distribution, it will be treated as a taxable sale or exchange in the manner described
under &ldquo;&mdash;Dispositions of Our Capital Stock.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B><I>Tax Rates.</I></B> The maximum tax
rate for non-corporate taxpayers for (1) long-term capital gains, including certain &ldquo;capital gain dividends,&rdquo; generally
is 20% (although depending on the characteristics of the assets which produced these gains and on designations which we may make,
certain capital gain dividends may be taxed at a 25% rate) and (2) &ldquo;qualified dividend income&rdquo; generally is 20%. In
general, dividends payable by REITs are not eligible for the reduced tax rate on qualified dividend income, except to the extent
that certain holding period requirements have been met and the REIT&rsquo;s dividends are attributable to dividends received from
taxable corporations (such as its taxable REIT subsidiaries) or to income that was subject to tax at the corporate/REIT level (for
example, if the REIT distributed taxable income that it retained and paid tax on in the prior taxable year). Capital gain dividends
will only be eligible for the rates described above to the extent that they are properly designated by the REIT as &ldquo;capital
gain dividends.&rdquo; U.S. holders that are corporations may be required to treat up to 20% of some capital gain dividends as
ordinary income. In addition, non-corporate U.S. holders, including individuals, generally may deduct up to 20% of dividends from
a REIT, other than capital gain dividends and dividends treated as qualified dividend income, for taxable years beginning before
January 1, 2026 for purposes of determining their U.S. federal income tax (but not for purposes of the 3.8% Medicare tax), subject
to certain holding period requirements and other limitations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Taxation of Tax-Exempt Holders of Our Capital Stock </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">Dividend income from us and gain arising
upon a sale of shares of our capital stock generally should not be unrelated business taxable income (&ldquo;UBTI&rdquo;), to a
tax-exempt holder, except as described below. This income or gain will be UBTI, however, to the extent a tax-exempt holder holds
its shares as &ldquo;debt-financed property&rdquo; within the meaning of the Code. Generally, &ldquo;debt-financed property&rdquo;
is property the acquisition or holding of which was financed through a borrowing by the tax-exempt holder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">For tax-exempt holders that are social
clubs, voluntary employee benefit associations or supplemental unemployment benefit trusts exempt from U.S. federal income taxation
under Sections 501(c)(7), (c)(9) or (c)(17) of the Code, respectively, income from an investment in our shares will constitute
UBTI unless the organization is able to properly claim a deduction for amounts set aside or placed in reserve for specific purposes
so as to offset the income generated by its investment in our shares. These prospective investors should consult their tax advisors
concerning these &ldquo;set aside&rdquo; and reserve requirements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">Notwithstanding the above, however, a portion
of the dividends paid by a &ldquo;pension-held REIT&rdquo; may be treated as UBTI as to certain trusts that hold more than 10%,
by value, of the interests in the REIT. A REIT will not be a &ldquo;pension-held REIT&rdquo; if it is able to satisfy the &ldquo;not
closely held&rdquo; requirement without relying on the &ldquo;look-through&rdquo; exception with respect to certain trusts or if
such REIT is not &ldquo;predominantly held&rdquo; by &ldquo;qualified trusts.&rdquo; As a result of restrictions on ownership and
transfer of our stock contained in our charter, we do not expect to be classified as a &ldquo;pension-held REIT,&rdquo; and as
a result, the tax treatment described above should be inapplicable to our holders. However, because our common stock is (and, we
anticipate, will continue to be) publicly traded, we cannot guarantee that this will always be the case.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"></P>

<!-- Field: Page; Sequence: 17 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Taxation of Non-U.S. Holders of Our Capital Stock </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">The following discussion addresses the
rules governing U.S. federal income taxation of the acquisition, ownership and disposition of our capital stock by non-U.S. holders.
These rules are complex, and no attempt is made herein to provide more than a brief summary of such rules. Accordingly, the discussion
does not address all aspects of U.S. federal income taxation and does not address other federal, state, local or non-U.S. tax consequences
that may be relevant to a non-U.S. holder in light of its particular circumstances. We urge non-U.S. holders to consult their tax
advisors to determine the impact of U.S. federal, state, local and non-U.S. income and other tax laws and any applicable tax treaty
on the acquisition, ownership and disposition of shares of our capital stock, including any reporting requirements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B><I>Distributions Generally</I>.</B>&nbsp;Distributions
(including any taxable stock distributions) that are neither attributable to gains from sales or exchanges by us of United States
real property interests, or USRPIs, nor designated by us as capital gain dividends (except as described below) will be treated
as dividends of ordinary income to the extent that they are made out of our current or accumulated earnings and profits. Such distributions
ordinarily will be subject to withholding of U.S. federal income tax at a 30% rate or such lower rate as may be specified by an
applicable income tax treaty, unless the distributions are treated as effectively connected with the conduct by the non-U.S. holder
of a trade or business within the United States (and, if required by an applicable income tax treaty, the non-U.S. holder maintains
a permanent establishment in the United States to which such dividends are attributable). Under certain treaties, however, lower
withholding rates generally applicable to dividends do not apply to dividends from a REIT. Certain certification and disclosure
requirements must be satisfied for a non-U.S. holder to be exempt from withholding under the effectively connected income exemption.
Dividends that are treated as effectively connected with a U.S. trade or business generally will not be subject to withholding
but will be subject to U.S. federal income tax on a net basis at the regular graduated rates, in the same manner as dividends paid
to U.S. holders are subject to U.S. federal income tax. Any such dividends received by a non-U.S. holder that is a corporation
may also be subject to an additional branch profits tax at a 30% rate (applicable after deducting U.S. federal income taxes paid
on such effectively connected income) or such lower rate as may be specified by an applicable income tax treaty.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">Except as otherwise provided below, we
expect to withhold U.S. federal income tax at the rate of 30% on any distributions made to a non-U.S. holder unless:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(1)</TD><TD>a lower treaty rate applies and the non-U.S. holder furnishes an IRS Form W-8BEN or W-8BEN-E (or other applicable documentation)
evidencing eligibility for that reduced treaty rate; or</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(2)</TD><TD>the non-U.S. holder furnishes an IRS Form W-8ECI (or other applicable documentation) claiming that the distribution is income
effectively connected with the non-U.S. holder&rsquo;s trade or business.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">Distributions in excess of our current
and accumulated earnings and profits will not be taxable to a non-U.S. holder to the extent that such distributions do not exceed
the adjusted tax basis of the holder&rsquo;s capital stock, but rather will reduce the adjusted tax basis of such stock. To the
extent that such distributions exceed the non-U.S. holder&rsquo;s adjusted tax basis in such capital stock, they generally will
give rise to gain from the sale or exchange of such stock, the tax treatment of which is described below. However, such excess
distributions may be treated as dividend income for certain non-U.S. holders. For withholding purposes, we expect to treat all
distributions as made out of our current or accumulated earnings and profits. However, amounts withheld may be refundable if it
is subsequently determined that the distribution was, in fact, in excess of our current and accumulated earnings and profits, provided
that certain conditions are met.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"></P>

<!-- Field: Page; Sequence: 18 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B><I>Capital Gain Dividends and Distributions
Attributable to a Sale or Exchange of United States Real Property Interests. </I></B>Distributions to a non-U.S. holder that we
properly designate as capital gain dividends, other than those arising from the disposition of a USRPI, generally should not be
subject to U.S. federal income taxation, unless:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(1)</TD><TD>the investment in our capital stock is treated as effectively connected with the conduct by the non-U.S. holder of a trade
or business within the United States (and, if required by an applicable income tax treaty, the non-U.S. holder maintains a permanent
establishment in the United States to which such dividends are attributable), in which case the non-U.S. holder will be subject
to the same treatment as U.S. holders with respect to such gain, except that a non-U.S. holder that is a corporation may also be
subject to a branch profits tax of up to 30%, as discussed above; or</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(2)</TD><TD>the non-U.S. holder is a nonresident alien individual who is present in the United States for 183 days or more during the taxable
year and certain other conditions are met, in which case the non-U.S. holder will be subject to U.S. federal income tax at a rate
of 30% on the non-U.S. holder&rsquo;s capital gains (or such lower rate specified by an applicable income tax treaty), which may
be offset by U.S. source capital losses of such non-U.S. holder (even though the individual is not considered a resident of the
United States), provided the non-U.S. holder has timely filed U.S. federal income tax returns with respect to such losses.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">Pursuant to the Foreign Investment in Real
Property Tax Act, which is referred to as &ldquo;FIRPTA,&rdquo; distributions to a non-U.S. holder that are attributable to gain
from sales or exchanges by us of USRPIs, whether or not designated as capital gain dividends, will cause the non-U.S. holder to
be treated as recognizing such gain as income effectively connected with a U.S. trade or business. Non-U.S. holders generally would
be taxed at the regular graduated rates applicable to U.S. holders, subject to any applicable alternative minimum tax and a special
alternative minimum tax in the case of nonresident alien individuals. We also will be required to withhold and to remit to the
IRS 21% of any distribution to non-U.S. holders attributable to gain from sales or exchanges by us of USRPIs. Distributions subject
to FIRPTA may also be subject to a 30% branch profits tax in the hands of a non-U.S. holder that is a corporation. The amount withheld
is creditable against the non-U.S. holder&rsquo;s U.S. federal income tax liability. However, any distribution with respect to
any class of stock that is &ldquo;regularly traded,&rdquo; as defined by applicable Treasury Regulations, on an established securities
market located in the United States is not subject to FIRPTA, and therefore, not subject to the 21% U.S. withholding tax described
above, if the non-U.S. holder did not own more than 10% of such class of stock at any time during the one-year period ending on
the date of the distribution. Instead, such distributions generally will be treated as ordinary dividend distributions and subject
to withholding in the manner described above with respect to ordinary dividends. In addition, distributions to certain non-U.S.
publicly traded shareholders that meet certain record-keeping and other requirements (&ldquo;qualified shareholders&rdquo;) are
exempt from FIRPTA, except to the extent owners of such qualified shareholders that are not also qualified shareholders own, actually
or constructively, more than 10% of our capital stock. Furthermore, distributions to &ldquo;qualified foreign pension funds&rdquo;
or entities all of the interests of which are held by &ldquo;qualified foreign pension funds&rdquo; are exempt from FIRPTA. Non-U.S.
holders should consult their tax advisors regarding the application of these rules.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B><I>Retention of Net Capital Gains</I>.</B>&nbsp;Although
the law is not clear on the matter, it appears that amounts we designate as retained net capital gains in respect of our capital
stock should be treated with respect to non-U.S. holders as actual distributions of capital gain dividends. Under this approach,
the non-U.S. holders may be able to offset as a credit against their U.S. federal income tax liability their proportionate share
of the tax paid by us on such retained net capital gains and to receive from the IRS a refund to the extent their proportionate
share of such tax paid by us exceeds their actual U.S. federal income tax liability. If we were to designate any portion of our
net capital gain as retained net capital gain, non-U.S. holders should consult their tax advisors regarding the taxation of such
retained net capital gain.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B><I>Sale of Our Capital Stock</I>.&nbsp;</B>Except
as described below under &ldquo;&mdash;Redemption or Repurchase by Us,&rdquo; gain realized by a non-U.S. holder upon the sale,
exchange or other taxable disposition of our capital stock generally will not be subject to U.S. federal income tax unless such
stock constitutes a USRPI. In general, stock of a domestic corporation that constitutes a &ldquo;United States real property holding
corporation,&rdquo; or USRPHC, will constitute a USRPI. We believe that we are a USRPHC. Our capital stock will not, however, constitute
a USRPI so long as we are a &ldquo;domestically controlled qualified investment entity.&rdquo; A &ldquo;domestically controlled
qualified investment entity&rdquo; includes a REIT in which at all times during a five-year testing period less than 50% in value
of its stock is held directly or indirectly by non-United States persons, subject to certain rules. For purposes of determining
whether a REIT is a &ldquo;domestically controlled qualified investment entity,&rdquo; a person who at all applicable times holds
less than 5% of a class of stock that is &ldquo;regularly traded&rdquo; is treated as a United States person unless the REIT has
actual knowledge that such person is not a United States person. We believe, but cannot guarantee, that we are a &ldquo;domestically
controlled qualified investment entity.&rdquo; Because our common stock is (and, we anticipate, will continue to be) publicly traded,
no assurance can be given that we will continue to be a &ldquo;domestically controlled qualified investment entity.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"></P>

<!-- Field: Page; Sequence: 19 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">Even if we do not qualify as a &ldquo;domestically
controlled qualified investment entity&rdquo; at the time a non-U.S. holder sells our capital stock, gain realized from the sale
or other taxable disposition by a non-U.S. holder of such capital stock would not be subject to U.S. federal income tax under FIRPTA
as a sale of a USRPI if:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(1)</TD><TD>such class of stock is &ldquo;regularly traded,&rdquo; as defined by applicable Treasury Regulations, on an established securities
market such as the New York Stock Exchange; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(2)</TD><TD>such non-U.S. holder owned, actually and constructively, 10% or less of such class of stock throughout the shorter of the five-year
period ending on the date of the sale or other taxable disposition or the non-U.S. holder&rsquo;s holding period.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">In addition, dispositions of our capital
stock by qualified shareholders are exempt from FIRPTA, except to the extent owners of such qualified shareholders that are not
also qualified shareholders own, actually or constructively, more than 10% of our capital stock. Furthermore, dispositions of our
capital stock by &ldquo;qualified foreign pension funds&rdquo; or entities all of the interests of which are held by &ldquo;qualified
foreign pension funds&rdquo; are exempt from FIRPTA. Non-U.S. holders should consult their tax advisors regarding the application
of these rules.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">Notwithstanding the foregoing, gain from
the sale, exchange or other taxable disposition of our capital stock not otherwise subject to FIRPTA will be taxable to a non-U.S.
holder if either (a)&nbsp;the investment in our capital stock is treated as effectively connected with the conduct by the non-U.S.
holder of a trade or business within the United States (and, if required by an applicable income tax treaty, the non-U.S. holder
maintains a permanent establishment in the United States to which such gain is attributable), in which case the non-U.S. holder
will be subject to the same treatment as U.S. holders with respect to such gain, except that a non-U.S. holder that is a corporation
may also be subject to the 30% branch profits tax (or such lower rate as may be specified by an applicable income tax treaty) on
such gain, as adjusted for certain items, or (b)&nbsp;the non-U.S. holder is a nonresident alien individual who is present in the
United States for 183 days or more during the taxable year and certain other conditions are met, in which case the non-U.S. holder
will be subject to a 30% tax on the non-U.S. holder&rsquo;s capital gains (or such lower rate specified by an applicable income
tax treaty), which may be offset by U.S. source capital losses of the non-U.S. holder (even though the individual is not considered
a resident of the United States), provided the non-U.S. holder has timely filed U.S. federal income tax returns with respect to
such losses. In addition, even if we are a domestically controlled qualified investment entity, upon disposition of our capital
stock, a non-U.S. holder may be treated as having gain from the sale or other taxable disposition of a USRPI if the non-U.S. holder
(1)&nbsp;disposes of such stock within a 30-day period preceding the ex-dividend date of a distribution, any portion of which,
but for the disposition, would have been treated as gain from the sale or exchange of a USRPI and (2)&nbsp;acquires, or enters
into a contract or option to acquire, or is deemed to acquire, other shares of that stock during the 61-day period beginning with
the first day of the 30-day period described in clause (1), unless such stock is &ldquo;regularly traded&rdquo; and the non-U.S.
holder did not own more than 10% of the stock at any time during the one-year period ending on the date of the distribution described
in clause (1).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">If gain on the sale, exchange or other
taxable disposition of our capital stock were subject to taxation under FIRPTA, the non-U.S. holder would be required to file a
U.S. federal income tax return and would be subject to regular U.S. federal income tax with respect to such gain in the same manner
as a taxable U.S. holder (subject to any applicable alternative minimum tax and a special alternative minimum tax in the case of
nonresident alien individuals). In addition, if the sale, exchange or other taxable disposition of our capital stock were subject
to taxation under FIRPTA, and if shares of the applicable class of our capital stock were not &ldquo;regularly traded&rdquo; on
an established securities market, the purchaser of such capital stock generally would be required to withhold and remit to the
IRS 15% of the purchase price.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"></P>

<!-- Field: Page; Sequence: 20 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B><I>Redemption or Repurchase by Us.</I></B>
A redemption or repurchase of shares of our capital stock will be treated under Section 302 of the Code as a distribution (and
taxable as a dividend to the extent of our current and accumulated earnings and profits) unless the redemption or repurchase satisfies
one of the tests set forth in Section 302(b) of the Code and is therefore treated as a sale or exchange of the redeemed or repurchased
shares. See &ldquo;&mdash;Taxation of Taxable U.S. Holders of Our Capital Stock&mdash;Redemption or Repurchase by Us.&rdquo; Qualified
shareholders and their owners may be subject to different rules, and should consult their tax advisors regarding the application
of such rules. If the redemption or repurchase of shares is treated as a distribution, the amount of the distribution will be measured
by the amount of cash and the fair market value of any property received. See &ldquo;&mdash;Taxation of Non-U.S. Holders of Our
Capital Stock&mdash;Distributions Generally&rdquo; above. If the redemption or repurchase of shares is not treated as a distribution,
it will be treated as a taxable sale or exchange in the manner described above under &ldquo;&mdash;Sale of Our Capital Stock.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Taxation of Holders of Our Debt Securities </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">The following summary describes the material
U.S. federal income tax consequences of acquiring, owning and disposing of our debt securities. This discussion assumes the debt
securities will be issued with less than a statutory <I>de minimis</I> amount of original issue discount for U.S. federal income
tax purposes. In addition, this discussion is limited to persons purchasing the debt securities for cash at original issue and
at their original &ldquo;issue price&rdquo; within the meaning of Section&nbsp;1273 of the Code (<I>i.e.</I>, the first price at
which a substantial amount of the debt securities is sold to the public for cash).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.25pt"><B><I>U.S. Holders </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.25pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><I>Payments of Interest. </I>Interest on
a debt security generally will be taxable to a U.S. holder as ordinary income at the time such interest is received or accrued,
in accordance with such U.S. holder&rsquo;s method of accounting for U.S. federal income tax purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><I>Sale or Other Taxable Disposition.</I>
A U.S. holder will recognize gain or loss on the sale, exchange, redemption, retirement or other taxable disposition of a debt
security. The amount of such gain or loss generally will be equal to the difference between the amount received for the debt security
in cash or other property valued at fair market value (less amounts attributable to any accrued but unpaid interest, which will
be taxable as interest to the extent not previously included in income) and the U.S. holder&rsquo;s adjusted tax basis in the debt
security. A U.S. holder&rsquo;s adjusted tax basis in a debt security generally will be equal to the amount the U.S. holder paid
for the debt security. Any gain or loss generally will be capital gain or loss, and will be long-term capital gain or loss if the
U.S. holder has held the debt security for more than one year at the time of such sale or other taxable disposition. Otherwise,
such gain or loss will be short-term capital gain or loss. Long-term capital gains recognized by certain non-corporate U.S. holders,
including individuals, generally will be taxable at reduced rates. The deductibility of capital losses is subject to limitations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.2pt"><B><I>Non-U.S. Holders </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.2pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><I>Payments of Interest.</I> Interest paid
on a debt security to a non-U.S. holder that is not effectively connected with the non-U.S. holder&rsquo;s conduct of a trade or
business within the United States generally will not be subject to U.S. federal income tax or withholding, provided that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>the non-U.S. holder does not, actually or constructively, own 10% or more of the total combined voting power of all classes
of our voting stock;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>the non-U.S. holder is not a controlled foreign corporation related to us through actual or constructive stock ownership; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>either (1) the non-U.S. holder certifies in a statement provided to the applicable withholding agent under penalties of perjury
that it is not a United States person and provides its name and address; (2)&nbsp;a securities clearing organization, bank or other
financial institution that holds customers&rsquo; securities in the ordinary course of its trade or business and holds the debt
security on behalf of the non-U.S. holder certifies to the applicable withholding agent under penalties of perjury that it, or
the financial institution between it and the non-U.S. holder, has received from the non-U.S. holder a statement under penalties
of perjury that such holder is not a United States person and provides the applicable withholding agent with a copy of such statement;
or (3)&nbsp;the non-U.S. holder holds its debt security directly through a &ldquo;qualified intermediary&rdquo; (within the meaning
of the applicable Treasury Regulations) and certain conditions are satisfied.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

<!-- Field: Page; Sequence: 21 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">If a non-U.S. holder does not satisfy the
requirements above, such non-U.S. holder will be subject to withholding tax of 30%, subject to a reduction in or an exemption from
withholding on such interest as a result of an applicable tax treaty. To claim such entitlement, the non-U.S. holder must provide
the applicable withholding agent with a properly executed IRS Form W-8BEN or W-8BEN-E (or other applicable documentation) claiming
a reduction in or exemption from withholding tax under the benefit of an income tax treaty between the United States and the country
in which the non-U.S. holder resides or is established.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">If interest paid to a non-U.S. holder is
effectively connected with the non-U.S. holder&rsquo;s conduct of a trade or business within the United States (and, if required
by an applicable income tax treaty, the non-U.S. holder maintains a permanent establishment in the United States to which such
interest is attributable), the non-U.S. holder will be exempt from the U.S. federal withholding tax described above. To claim the
exemption, the non-U.S. holder must furnish to the applicable withholding agent a valid IRS Form W-8ECI, certifying that interest
paid on a debt security is not subject to withholding tax because it is effectively connected with the conduct by the non-U.S.
holder of a trade or business within the United States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">Any such effectively connected interest
generally will be subject to U.S. federal income tax at the regular graduated rates. A non-U.S. holder that is a corporation may
also be subject to a branch profits tax at a rate of 30% (or such lower rate specified by an applicable income tax treaty) on such
effectively connected interest, as adjusted for certain items.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">The certifications described above must
be provided to the applicable withholding agent prior to the payment of interest and must be updated periodically. Non-U.S. holders
that do not timely provide the applicable withholding agent with the required certification, but that qualify for a reduced rate
under an applicable income tax treaty, may obtain a refund of any excess amounts withheld by timely filing an appropriate claim
for refund with the IRS. Non-U.S. holders should consult their tax advisors regarding their entitlement to benefits under any applicable
income tax treaty.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><I>Sale or Other Taxable Disposition.</I>
A non-U.S. holder will not be subject to U.S. federal income tax on any gain realized upon the sale, exchange, redemption, retirement
or other taxable disposition of a debt security (such amount excludes any amount allocable to accrued and unpaid interest, which
generally will be treated as interest and may be subject to the rules discussed above in &ldquo;&mdash;Taxation of Holders of Our
Debt Securities&mdash;Non-U.S. Holders&mdash;Payments of Interest&rdquo;) unless:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>the gain is effectively connected with the non-U.S. holder&rsquo;s conduct of a trade or business within the United States
(and, if required by an applicable income tax treaty, the non-U.S. holder maintains a permanent establishment in the United States
to which such gain is attributable); or</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>the non-U.S. holder is a nonresident alien individual present in the United States for 183 days or more during the taxable
year of the disposition and certain other requirements are met.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">Gain described in the first bullet point
above generally will be subject to U.S. federal income tax on a net income basis at the regular graduated rates. A non-U.S. holder
that is a corporation also may be subject to a branch profits tax at a rate of 30% (or such lower rate specified by an applicable
income tax treaty) on such effectively connected gain, as adjusted for certain items.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">Gain described in the second bullet point
above will be subject to U.S. federal income tax at a rate of 30% (or such lower rate specified by an applicable income tax treaty),
which may be offset by U.S. source capital losses of the non-U.S. holder (even though the individual is not considered a resident
of the United States), provided the non-U.S. holder has timely filed U.S. federal income tax returns with respect to such losses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"></P>

<!-- Field: Page; Sequence: 22 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">Non-U.S. holders should consult their tax
advisors regarding any applicable income tax treaties that may provide for different rules.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Information Reporting and Backup Withholding</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><B><I>U.S. Holders.</I></B> A U.S. holder
may be subject to information reporting and backup withholding when such holder receives payments on our capital stock or debt
securities or proceeds from the sale or other taxable disposition of such stock or debt securities (including a redemption or retirement
of a debt security). Certain U.S. holders are exempt from backup withholding, including corporations and certain tax-exempt organizations.
A U.S. holder will be subject to backup withholding if such holder is not otherwise exempt and:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>the holder fails to furnish the holder&rsquo;s taxpayer identification number, which for an individual is ordinarily his or
her social security number;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>the holder furnishes an incorrect taxpayer identification number;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>the applicable withholding agent is notified by the IRS that the holder previously failed to properly report payments of interest
or dividends; or</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD>the holder fails to certify under penalties of perjury that the holder has furnished a correct taxpayer identification number
and that the IRS has not notified the holder that the holder is subject to backup withholding.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">Backup withholding is not an additional tax.
Any amounts withheld under the backup withholding rules may be allowed as a refund or a credit against a U.S. holder&rsquo;s U.S.
federal income tax liability, provided the required information is timely furnished to the IRS. U.S. holders should consult their
tax advisors regarding their qualification for an exemption from backup withholding and the procedures for obtaining such an exemption.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"><B><I>Non-U.S. Holders.</I></B> Payments
of dividends on our capital stock or interest on our debt securities generally will not be subject to backup withholding, provided
the applicable withholding agent does not have actual knowledge or reason to know the holder is a United States person and the
holder either certifies its non-U.S. status, such as by furnishing a valid IRS Form W-8BEN, W-8BEN-E or W-8ECI, or otherwise establishes
an exemption. However, information returns are required to be filed with the IRS in connection with any distributions on our capital
stock or interest on our debt securities paid to the non-U.S. holder, regardless of whether such distributions constitute a dividend
or whether any tax was actually withheld. In addition, proceeds of the sale or other taxable disposition of such stock or debt
securities (including a retirement or redemption of a debt security) within the United States or conducted through certain U.S.-related
brokers generally will not be subject to backup withholding or information reporting, if the applicable withholding agent receives
the certification described above and does not have actual knowledge or reason to know that such holder is a United States person,
or the holder otherwise establishes an exemption. Proceeds of a disposition of such stock or debt securities conducted through
a non-U.S. office of a non-U.S. broker generally will not be subject to backup withholding or information reporting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">Copies of information returns that are filed
with the IRS may also be made available under the provisions of an applicable treaty or agreement to the tax authorities of the
country in which the non-U.S. holder resides or is established.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">Backup withholding is not an additional tax.
Any amounts withheld under the backup withholding rules may be allowed as a refund or a credit against a non-U.S. holder&rsquo;s
U.S. federal income tax liability, provided the required information is timely furnished to the IRS.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Medicare Contribution Tax on Unearned Income</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">Certain U.S. holders that are individuals,
estates or trusts are required to pay an additional 3.8% tax on, among other things, dividends on stock, interest on debt obligations,
and capital gains from the sale or other disposition of stock or debt obligations, subject to certain limitations. U.S. holders
should consult their tax advisors regarding the effect, if any, of these rules on their ownership and disposition of our capital
stock or debt securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"></P>

<!-- Field: Page; Sequence: 23 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Additional Withholding Tax on Payments Made to Foreign Accounts
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">Withholding taxes may be imposed under
Sections 1471 to 1474 of the Code (such sections commonly referred to as the Foreign Account Tax Compliance Act (&ldquo;FATCA&rdquo;))
on certain types of payments made to non-U.S. financial institutions and certain other non-U.S. entities. Specifically, a 30% withholding
tax may be imposed on dividends on our capital stock, interest on our debt securities, or (subject to the proposed Treasury Regulations
discussed below) gross proceeds from the sale or other disposition of our capital stock or debt securities, in each case paid to
a &ldquo;foreign financial institution&rdquo; or a &ldquo;non-financial foreign entity&rdquo; (each as defined in the Code), unless
(1) the foreign financial institution undertakes certain diligence and reporting obligations, (2) the non-financial foreign entity
either certifies it does not have any &ldquo;substantial United States owners&rdquo; (as defined in the Code) or furnishes identifying
information regarding each substantial United States owner, or (3) the foreign financial institution or non-financial foreign entity
otherwise qualifies for an exemption from these rules. If the payee is a foreign financial institution and is subject to the diligence
and reporting requirements in clause (1) above, it must enter into an agreement with the U.S. Department of the Treasury requiring,
among other things, that it undertake to identify accounts held by certain &ldquo;specified United States persons&rdquo; or &ldquo;United
States owned foreign entities&rdquo; (each as defined in the Code), annually report certain information about such accounts, and
withhold 30% on certain payments to non-compliant foreign financial institutions and certain other account holders. Foreign financial
institutions located in jurisdictions that have an intergovernmental agreement with the United States governing FATCA may be subject
to different rules.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">Under the applicable Treasury Regulations
and administrative guidance, withholding under FATCA generally applies to payments of dividends on our capital stock or interest
on our debt securities. While withholding under FATCA would have applied also to payments of gross proceeds from the sale or other
disposition of stock or debt securities on or after January 1, 2019, proposed Treasury Regulations eliminate FATCA withholding
on payments of gross proceeds entirely. Taxpayers generally may rely on these proposed Treasury Regulations until final Treasury
Regulations are issued. Because we may not know the extent to which a distribution is a dividend for U.S. federal income tax purposes
at the time it is made, for purposes of these withholding rules we may treat the entire distribution as a dividend.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">Prospective investors should consult their
tax advisors regarding the potential application of withholding under FATCA to their investment in our capital stock or debt securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Other Tax Consequences </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">State, local and non-U.S. income tax laws
may differ substantially from the corresponding U.S. federal income tax laws, and this discussion does not purport to describe
any aspect of the tax laws of any state, local or non-U.S. jurisdiction, or any U.S. federal tax other than the income tax. You
should consult your tax advisor regarding the effect of state, local and non-U.S. tax laws with respect to our tax treatment as
a REIT and on an investment in our capital stock or debt securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 24; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.SCH
<SEQUENCE>4
<FILENAME>o-20200805.xsd
<DESCRIPTION>XBRL TAXONOMY EXTENSION SCHEMA
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" ?>
    <!-- Field: Doc-Info; Name: Generator; Value: GoFiler Complete; Version: 5.4a -->
    <!-- Field: Doc-Info; Name: VendorURI; Value: http://www.novaworks.co -->
    <!-- Field: Doc-Info; Name: Status; Value: 0x00000000 -->
    <!-- Field: Doc-Info; Name: Misc; Value: +K85w7xRiXgen8uNbXAsWaCIybPtzp5xKekhuWhybRlaDyUuLEOGwy8CgH/msXYM -->
<schema xmlns="http://www.w3.org/2001/XMLSchema" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:dei="http://xbrl.sec.gov/dei/2020-01-31" xmlns:us-gaap="http://fasb.org/us-gaap/2020-01-31" xmlns:srt="http://fasb.org/srt/2020-01-31" xmlns:srt-types="http://fasb.org/srt-types/2020-01-31" xmlns:o="http://realtyincome.com/20200805" elementFormDefault="qualified" targetNamespace="http://realtyincome.com/20200805">
    <annotation>
      <appinfo>
	<link:roleType roleURI="http://realtyincome.com/role/Cover" id="Cover">
	  <link:definition>00000001 - Document - Cover</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:linkbaseRef xlink:type="simple" xlink:href="o-20200805_pre.xml" xlink:role="http://www.xbrl.org/2003/role/presentationLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:title="Presentation Links" />
	<link:linkbaseRef xlink:type="simple" xlink:href="o-20200805_lab.xml" xlink:role="http://www.xbrl.org/2003/role/labelLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:title="Label Links" />
      </appinfo>
    </annotation>
    <import namespace="http://www.xbrl.org/2003/instance" schemaLocation="http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd" />
    <import namespace="http://www.xbrl.org/2003/linkbase" schemaLocation="http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" />
    <import namespace="http://xbrl.sec.gov/dei/2020-01-31" schemaLocation="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd" />
    <import namespace="http://fasb.org/us-gaap/2020-01-31" schemaLocation="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd" />
    <import namespace="http://fasb.org/us-types/2020-01-31" schemaLocation="http://xbrl.fasb.org/us-gaap/2020/elts/us-types-2020-01-31.xsd" />
    <import namespace="http://www.xbrl.org/dtr/type/non-numeric" schemaLocation="http://www.xbrl.org/dtr/type/nonNumeric-2009-12-16.xsd" />
    <import namespace="http://www.xbrl.org/dtr/type/numeric" schemaLocation="http://www.xbrl.org/dtr/type/numeric-2009-12-16.xsd" />
    <import namespace="http://xbrl.sec.gov/country/2020-01-31" schemaLocation="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd" />
    <import namespace="http://fasb.org/srt/2020-01-31" schemaLocation="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd" />
    <import namespace="http://fasb.org/srt-types/2020-01-31" schemaLocation="http://xbrl.fasb.org/srt/2020/elts/srt-types-2020-01-31.xsd" />
</schema>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>5
<FILENAME>o-20200805_lab.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION LABEL LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" standalone="no"?>
    <!-- Field: Doc-Info; Name: Generator; Value: GoFiler Complete; Version: 5.4a -->
    <!-- Field: Doc-Info; Name: VendorURI; Value: http://www.novaworks.co -->
    <!-- Field: Doc-Info; Name: Status; Value: 0x00000000 -->
<link:linkbase xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrli="http://www.xbrl.org/2003/instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedLabel" roleURI="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodEndLabel" roleURI="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodStartLabel" roleURI="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTotalLabel" roleURI="http://www.xbrl.org/2009/role/negatedTotalLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedNetLabel" roleURI="http://www.xbrl.org/2009/role/negatedNetLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTerseLabel" roleURI="http://www.xbrl.org/2009/role/negatedTerseLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/net-2009-12-16.xsd#netLabel" roleURI="http://www.xbrl.org/2009/role/netLabel" />
    <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_CoverAbstract" xlink:label="dei_CoverAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CoverAbstract" xlink:to="dei_CoverAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CoverAbstract_lbl" xml:lang="en-US">Cover [Abstract]</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentType" xlink:label="dei_DocumentType" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentType" xlink:to="dei_DocumentType_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentType_lbl" xml:lang="en-US">Document Type</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_AmendmentFlag" xlink:label="dei_AmendmentFlag" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentFlag" xlink:to="dei_AmendmentFlag_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AmendmentFlag_lbl" xml:lang="en-US">Amendment Flag</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_AmendmentDescription" xlink:label="dei_AmendmentDescription" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentDescription" xlink:to="dei_AmendmentDescription_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AmendmentDescription_lbl" xml:lang="en-US">Amendment Description</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentRegistrationStatement" xlink:label="dei_DocumentRegistrationStatement" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentRegistrationStatement" xlink:to="dei_DocumentRegistrationStatement_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentRegistrationStatement_lbl" xml:lang="en-US">Document Registration Statement</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentAnnualReport" xlink:label="dei_DocumentAnnualReport" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentAnnualReport" xlink:to="dei_DocumentAnnualReport_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentAnnualReport_lbl" xml:lang="en-US">Document Annual Report</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentQuarterlyReport" xlink:label="dei_DocumentQuarterlyReport" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentQuarterlyReport" xlink:to="dei_DocumentQuarterlyReport_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentQuarterlyReport_lbl" xml:lang="en-US">Document Quarterly Report</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentTransitionReport" xlink:label="dei_DocumentTransitionReport" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentTransitionReport" xlink:to="dei_DocumentTransitionReport_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentTransitionReport_lbl" xml:lang="en-US">Document Transition Report</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentShellCompanyReport" xlink:label="dei_DocumentShellCompanyReport" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentShellCompanyReport" xlink:to="dei_DocumentShellCompanyReport_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentShellCompanyReport_lbl" xml:lang="en-US">Document Shell Company Report</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentShellCompanyEventDate" xlink:label="dei_DocumentShellCompanyEventDate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentShellCompanyEventDate" xlink:to="dei_DocumentShellCompanyEventDate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentShellCompanyEventDate_lbl" xml:lang="en-US">Document Shell Company Event Date</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentPeriodStartDate" xlink:label="dei_DocumentPeriodStartDate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodStartDate" xlink:to="dei_DocumentPeriodStartDate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentPeriodStartDate_lbl" xml:lang="en-US">Document Period Start Date</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentPeriodEndDate" xlink:label="dei_DocumentPeriodEndDate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodEndDate" xlink:to="dei_DocumentPeriodEndDate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentPeriodEndDate_lbl" xml:lang="en-US">Document Period End Date</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="dei_DocumentFiscalPeriodFocus" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalPeriodFocus" xlink:to="dei_DocumentFiscalPeriodFocus_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentFiscalPeriodFocus_lbl" xml:lang="en-US">Document Fiscal Period Focus</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentFiscalYearFocus" xlink:label="dei_DocumentFiscalYearFocus" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalYearFocus" xlink:to="dei_DocumentFiscalYearFocus_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentFiscalYearFocus_lbl" xml:lang="en-US">Document Fiscal Year Focus</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_CurrentFiscalYearEndDate" xlink:label="dei_CurrentFiscalYearEndDate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CurrentFiscalYearEndDate" xlink:to="dei_CurrentFiscalYearEndDate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CurrentFiscalYearEndDate_lbl" xml:lang="en-US">Current Fiscal Year End Date</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityFileNumber" xlink:label="dei_EntityFileNumber" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFileNumber" xlink:to="dei_EntityFileNumber_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityFileNumber_lbl" xml:lang="en-US">Entity File Number</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityRegistrantName" xlink:label="dei_EntityRegistrantName" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityRegistrantName" xlink:to="dei_EntityRegistrantName_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityRegistrantName_lbl" xml:lang="en-US">Entity Registrant Name</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityCentralIndexKey" xlink:label="dei_EntityCentralIndexKey" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCentralIndexKey" xlink:to="dei_EntityCentralIndexKey_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCentralIndexKey_lbl" xml:lang="en-US">Entity Central Index Key</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityPrimarySicNumber" xlink:label="dei_EntityPrimarySicNumber" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityPrimarySicNumber" xlink:to="dei_EntityPrimarySicNumber_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityPrimarySicNumber_lbl" xml:lang="en-US">Entity Primary SIC Number</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityTaxIdentificationNumber" xlink:label="dei_EntityTaxIdentificationNumber" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityTaxIdentificationNumber" xlink:to="dei_EntityTaxIdentificationNumber_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityTaxIdentificationNumber_lbl" xml:lang="en-US">Entity Tax Identification Number</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityIncorporationStateCountryCode" xlink:label="dei_EntityIncorporationStateCountryCode" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityIncorporationStateCountryCode" xlink:to="dei_EntityIncorporationStateCountryCode_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityIncorporationStateCountryCode_lbl" xml:lang="en-US">Entity Incorporation, State or Country Code</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityAddressAddressLine1" xlink:label="dei_EntityAddressAddressLine1" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine1" xlink:to="dei_EntityAddressAddressLine1_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressAddressLine1_lbl" xml:lang="en-US">Entity Address, Address Line One</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityAddressAddressLine2" xlink:label="dei_EntityAddressAddressLine2" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine2" xlink:to="dei_EntityAddressAddressLine2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressAddressLine2_lbl" xml:lang="en-US">Entity Address, Address Line Two</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityAddressAddressLine3" xlink:label="dei_EntityAddressAddressLine3" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine3" xlink:to="dei_EntityAddressAddressLine3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressAddressLine3_lbl" xml:lang="en-US">Entity Address, Address Line Three</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityAddressCityOrTown" xlink:label="dei_EntityAddressCityOrTown" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressCityOrTown" xlink:to="dei_EntityAddressCityOrTown_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressCityOrTown_lbl" xml:lang="en-US">Entity Address, City or Town</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityAddressStateOrProvince" xlink:label="dei_EntityAddressStateOrProvince" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressStateOrProvince" xlink:to="dei_EntityAddressStateOrProvince_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressStateOrProvince_lbl" xml:lang="en-US">Entity Address, State or Province</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityAddressCountry" xlink:label="dei_EntityAddressCountry" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressCountry" xlink:to="dei_EntityAddressCountry_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressCountry_lbl" xml:lang="en-US">Entity Address, Country</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityAddressPostalZipCode" xlink:label="dei_EntityAddressPostalZipCode" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressPostalZipCode" xlink:to="dei_EntityAddressPostalZipCode_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressPostalZipCode_lbl" xml:lang="en-US">Entity Address, Postal Zip Code</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_CountryRegion" xlink:label="dei_CountryRegion" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CountryRegion" xlink:to="dei_CountryRegion_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CountryRegion_lbl" xml:lang="en-US">Country Region</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_CityAreaCode" xlink:label="dei_CityAreaCode" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CityAreaCode" xlink:to="dei_CityAreaCode_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CityAreaCode_lbl" xml:lang="en-US">City Area Code</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_LocalPhoneNumber" xlink:label="dei_LocalPhoneNumber" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_LocalPhoneNumber" xlink:to="dei_LocalPhoneNumber_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_LocalPhoneNumber_lbl" xml:lang="en-US">Local Phone Number</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_Extension" xlink:label="dei_Extension" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_Extension" xlink:to="dei_Extension_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_Extension_lbl" xml:lang="en-US">Extension</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_WrittenCommunications" xlink:label="dei_WrittenCommunications" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_WrittenCommunications" xlink:to="dei_WrittenCommunications_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_WrittenCommunications_lbl" xml:lang="en-US">Written Communications</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_SolicitingMaterial" xlink:label="dei_SolicitingMaterial" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SolicitingMaterial" xlink:to="dei_SolicitingMaterial_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_SolicitingMaterial_lbl" xml:lang="en-US">Soliciting Material</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_PreCommencementTenderOffer" xlink:label="dei_PreCommencementTenderOffer" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_PreCommencementTenderOffer" xlink:to="dei_PreCommencementTenderOffer_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_PreCommencementTenderOffer_lbl" xml:lang="en-US">Pre-commencement Tender Offer</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_PreCommencementIssuerTenderOffer" xlink:label="dei_PreCommencementIssuerTenderOffer" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_PreCommencementIssuerTenderOffer" xlink:to="dei_PreCommencementIssuerTenderOffer_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_PreCommencementIssuerTenderOffer_lbl" xml:lang="en-US">Pre-commencement Issuer Tender Offer</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_Security12bTitle" xlink:label="dei_Security12bTitle" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_Security12bTitle" xlink:to="dei_Security12bTitle_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_Security12bTitle_lbl" xml:lang="en-US">Title of 12(b) Security</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_NoTradingSymbolFlag" xlink:label="dei_NoTradingSymbolFlag" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_NoTradingSymbolFlag" xlink:to="dei_NoTradingSymbolFlag_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_NoTradingSymbolFlag_lbl" xml:lang="en-US">No Trading Symbol Flag</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_TradingSymbol" xlink:label="dei_TradingSymbol" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_TradingSymbol" xlink:to="dei_TradingSymbol_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_TradingSymbol_lbl" xml:lang="en-US">Trading Symbol</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_SecurityExchangeName" xlink:label="dei_SecurityExchangeName" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SecurityExchangeName" xlink:to="dei_SecurityExchangeName_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_SecurityExchangeName_lbl" xml:lang="en-US">Security Exchange Name</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_Security12gTitle" xlink:label="dei_Security12gTitle" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_Security12gTitle" xlink:to="dei_Security12gTitle_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_Security12gTitle_lbl" xml:lang="en-US">Title of 12(g) Security</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_SecurityReportingObligation" xlink:label="dei_SecurityReportingObligation" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SecurityReportingObligation" xlink:to="dei_SecurityReportingObligation_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_SecurityReportingObligation_lbl" xml:lang="en-US">Security Reporting Obligation</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_AnnualInformationForm" xlink:label="dei_AnnualInformationForm" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AnnualInformationForm" xlink:to="dei_AnnualInformationForm_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AnnualInformationForm_lbl" xml:lang="en-US">Annual Information Form</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_AuditedAnnualFinancialStatements" xlink:label="dei_AuditedAnnualFinancialStatements" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AuditedAnnualFinancialStatements" xlink:to="dei_AuditedAnnualFinancialStatements_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AuditedAnnualFinancialStatements_lbl" xml:lang="en-US">Audited Annual Financial Statements</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityWellKnownSeasonedIssuer" xlink:label="dei_EntityWellKnownSeasonedIssuer" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityWellKnownSeasonedIssuer" xlink:to="dei_EntityWellKnownSeasonedIssuer_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityWellKnownSeasonedIssuer_lbl" xml:lang="en-US">Entity Well-known Seasoned Issuer</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityVoluntaryFilers" xlink:label="dei_EntityVoluntaryFilers" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityVoluntaryFilers" xlink:to="dei_EntityVoluntaryFilers_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityVoluntaryFilers_lbl" xml:lang="en-US">Entity Voluntary Filers</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityCurrentReportingStatus" xlink:label="dei_EntityCurrentReportingStatus" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCurrentReportingStatus" xlink:to="dei_EntityCurrentReportingStatus_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCurrentReportingStatus_lbl" xml:lang="en-US">Entity Current Reporting Status</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityInteractiveDataCurrent" xlink:label="dei_EntityInteractiveDataCurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityInteractiveDataCurrent" xlink:to="dei_EntityInteractiveDataCurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityInteractiveDataCurrent_lbl" xml:lang="en-US">Entity Interactive Data Current</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityFilerCategory" xlink:label="dei_EntityFilerCategory" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFilerCategory" xlink:to="dei_EntityFilerCategory_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityFilerCategory_lbl" xml:lang="en-US">Entity Filer Category</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntitySmallBusiness" xlink:label="dei_EntitySmallBusiness" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntitySmallBusiness" xlink:to="dei_EntitySmallBusiness_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntitySmallBusiness_lbl" xml:lang="en-US">Entity Small Business</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityEmergingGrowthCompany" xlink:label="dei_EntityEmergingGrowthCompany" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityEmergingGrowthCompany" xlink:to="dei_EntityEmergingGrowthCompany_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityEmergingGrowthCompany_lbl" xml:lang="en-US">Entity Emerging Growth Company</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityExTransitionPeriod" xlink:label="dei_EntityExTransitionPeriod" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityExTransitionPeriod" xlink:to="dei_EntityExTransitionPeriod_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityExTransitionPeriod_lbl" xml:lang="en-US">Elected Not To Use the Extended Transition Period</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentAccountingStandard" xlink:label="dei_DocumentAccountingStandard" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentAccountingStandard" xlink:to="dei_DocumentAccountingStandard_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentAccountingStandard_lbl" xml:lang="en-US">Document Accounting Standard</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_OtherReportingStandardItemNumber" xlink:label="dei_OtherReportingStandardItemNumber" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_OtherReportingStandardItemNumber" xlink:to="dei_OtherReportingStandardItemNumber_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_OtherReportingStandardItemNumber_lbl" xml:lang="en-US">Other Reporting Standard Item Number</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityShellCompany" xlink:label="dei_EntityShellCompany" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityShellCompany" xlink:to="dei_EntityShellCompany_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityShellCompany_lbl" xml:lang="en-US">Entity Shell Company</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityPublicFloat" xlink:label="dei_EntityPublicFloat" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityPublicFloat" xlink:to="dei_EntityPublicFloat_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityPublicFloat_lbl" xml:lang="en-US">Entity Public Float</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityBankruptcyProceedingsReportingCurrent" xlink:label="dei_EntityBankruptcyProceedingsReportingCurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityBankruptcyProceedingsReportingCurrent" xlink:to="dei_EntityBankruptcyProceedingsReportingCurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityBankruptcyProceedingsReportingCurrent_lbl" xml:lang="en-US">Entity Bankruptcy Proceedings, Reporting Current</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="dei_EntityCommonStockSharesOutstanding" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCommonStockSharesOutstanding" xlink:to="dei_EntityCommonStockSharesOutstanding_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCommonStockSharesOutstanding_lbl" xml:lang="en-US">Entity Common Stock, Shares Outstanding</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentsIncorporatedByReferenceTextBlock" xlink:label="dei_DocumentsIncorporatedByReferenceTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentsIncorporatedByReferenceTextBlock" xlink:to="dei_DocumentsIncorporatedByReferenceTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentsIncorporatedByReferenceTextBlock_lbl" xml:lang="en-US">Documents Incorporated by Reference [Text Block]</link:label>
    </link:labelLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>6
<FILENAME>o-20200805_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" standalone="no"?>
    <!-- Field: Doc-Info; Name: Generator; Value: GoFiler Complete; Version: 5.4a -->
    <!-- Field: Doc-Info; Name: VendorURI; Value: http://www.novaworks.co -->
    <!-- Field: Doc-Info; Name: Status; Value: 0x00000000 -->
<link:linkbase xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrli="http://www.xbrl.org/2003/instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
    <link:roleRef roleURI="http://realtyincome.com/role/Cover" xlink:href="o-20200805.xsd#Cover" xlink:type="simple" />
    <link:presentationLink xlink:type="extended" xlink:role="http://realtyincome.com/role/Cover" xlink:title="00000001 - Document - Cover">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_CoverAbstract" xlink:label="loc_deiCoverAbstract" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentType" xlink:label="loc_deiDocumentType" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentType" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_AmendmentFlag" xlink:label="loc_deiAmendmentFlag" />
      <link:presentationArc order="10" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiAmendmentFlag" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_AmendmentDescription" xlink:label="loc_deiAmendmentDescription" />
      <link:presentationArc order="20" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiAmendmentDescription" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentRegistrationStatement" xlink:label="loc_deiDocumentRegistrationStatement" />
      <link:presentationArc order="30" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentRegistrationStatement" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentAnnualReport" xlink:label="loc_deiDocumentAnnualReport" />
      <link:presentationArc order="40" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentAnnualReport" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentQuarterlyReport" xlink:label="loc_deiDocumentQuarterlyReport" />
      <link:presentationArc order="50" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentQuarterlyReport" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentTransitionReport" xlink:label="loc_deiDocumentTransitionReport" />
      <link:presentationArc order="60" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentTransitionReport" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentShellCompanyReport" xlink:label="loc_deiDocumentShellCompanyReport" />
      <link:presentationArc order="70" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentShellCompanyReport" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentShellCompanyEventDate" xlink:label="loc_deiDocumentShellCompanyEventDate" />
      <link:presentationArc order="80" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentShellCompanyEventDate" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentPeriodStartDate" xlink:label="loc_deiDocumentPeriodStartDate" />
      <link:presentationArc order="90" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentPeriodStartDate" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentPeriodEndDate" xlink:label="loc_deiDocumentPeriodEndDate" />
      <link:presentationArc order="100" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentPeriodEndDate" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="loc_deiDocumentFiscalPeriodFocus" />
      <link:presentationArc order="110" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentFiscalPeriodFocus" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentFiscalYearFocus" xlink:label="loc_deiDocumentFiscalYearFocus" />
      <link:presentationArc order="120" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentFiscalYearFocus" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_CurrentFiscalYearEndDate" xlink:label="loc_deiCurrentFiscalYearEndDate" />
      <link:presentationArc order="130" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiCurrentFiscalYearEndDate" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityFileNumber" xlink:label="loc_deiEntityFileNumber" />
      <link:presentationArc order="140" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityFileNumber" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityRegistrantName" xlink:label="loc_deiEntityRegistrantName" />
      <link:presentationArc order="150" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityRegistrantName" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityCentralIndexKey" xlink:label="loc_deiEntityCentralIndexKey" />
      <link:presentationArc order="160" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityCentralIndexKey" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityPrimarySicNumber" xlink:label="loc_deiEntityPrimarySicNumber" />
      <link:presentationArc order="170" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityPrimarySicNumber" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityTaxIdentificationNumber" xlink:label="loc_deiEntityTaxIdentificationNumber" />
      <link:presentationArc order="180" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityTaxIdentificationNumber" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityIncorporationStateCountryCode" xlink:label="loc_deiEntityIncorporationStateCountryCode" />
      <link:presentationArc order="190" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityIncorporationStateCountryCode" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityAddressAddressLine1" xlink:label="loc_deiEntityAddressAddressLine1" />
      <link:presentationArc order="200" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityAddressAddressLine1" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityAddressAddressLine2" xlink:label="loc_deiEntityAddressAddressLine2" />
      <link:presentationArc order="210" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityAddressAddressLine2" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityAddressAddressLine3" xlink:label="loc_deiEntityAddressAddressLine3" />
      <link:presentationArc order="220" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityAddressAddressLine3" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityAddressCityOrTown" xlink:label="loc_deiEntityAddressCityOrTown" />
      <link:presentationArc order="230" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityAddressCityOrTown" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityAddressStateOrProvince" xlink:label="loc_deiEntityAddressStateOrProvince" />
      <link:presentationArc order="240" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityAddressStateOrProvince" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityAddressCountry" xlink:label="loc_deiEntityAddressCountry" />
      <link:presentationArc order="250" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityAddressCountry" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityAddressPostalZipCode" xlink:label="loc_deiEntityAddressPostalZipCode" />
      <link:presentationArc order="260" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityAddressPostalZipCode" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_CountryRegion" xlink:label="loc_deiCountryRegion" />
      <link:presentationArc order="270" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiCountryRegion" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_CityAreaCode" xlink:label="loc_deiCityAreaCode" />
      <link:presentationArc order="280" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiCityAreaCode" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_LocalPhoneNumber" xlink:label="loc_deiLocalPhoneNumber" />
      <link:presentationArc order="290" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiLocalPhoneNumber" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_Extension" xlink:label="loc_deiExtension" />
      <link:presentationArc order="300" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiExtension" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_WrittenCommunications" xlink:label="loc_deiWrittenCommunications" />
      <link:presentationArc order="310" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiWrittenCommunications" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_SolicitingMaterial" xlink:label="loc_deiSolicitingMaterial" />
      <link:presentationArc order="320" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiSolicitingMaterial" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_PreCommencementTenderOffer" xlink:label="loc_deiPreCommencementTenderOffer" />
      <link:presentationArc order="330" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiPreCommencementTenderOffer" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_PreCommencementIssuerTenderOffer" xlink:label="loc_deiPreCommencementIssuerTenderOffer" />
      <link:presentationArc order="340" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiPreCommencementIssuerTenderOffer" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_Security12bTitle" xlink:label="loc_deiSecurity12bTitle" />
      <link:presentationArc order="350" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiSecurity12bTitle" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_NoTradingSymbolFlag" xlink:label="loc_deiNoTradingSymbolFlag" />
      <link:presentationArc order="360" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiNoTradingSymbolFlag" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_TradingSymbol" xlink:label="loc_deiTradingSymbol" />
      <link:presentationArc order="370" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiTradingSymbol" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_SecurityExchangeName" xlink:label="loc_deiSecurityExchangeName" />
      <link:presentationArc order="380" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiSecurityExchangeName" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_Security12gTitle" xlink:label="loc_deiSecurity12gTitle" />
      <link:presentationArc order="390" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiSecurity12gTitle" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_SecurityReportingObligation" xlink:label="loc_deiSecurityReportingObligation" />
      <link:presentationArc order="400" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiSecurityReportingObligation" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_AnnualInformationForm" xlink:label="loc_deiAnnualInformationForm" />
      <link:presentationArc order="410" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiAnnualInformationForm" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_AuditedAnnualFinancialStatements" xlink:label="loc_deiAuditedAnnualFinancialStatements" />
      <link:presentationArc order="420" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiAuditedAnnualFinancialStatements" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityWellKnownSeasonedIssuer" xlink:label="loc_deiEntityWellKnownSeasonedIssuer" />
      <link:presentationArc order="430" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityWellKnownSeasonedIssuer" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityVoluntaryFilers" xlink:label="loc_deiEntityVoluntaryFilers" />
      <link:presentationArc order="440" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityVoluntaryFilers" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityCurrentReportingStatus" xlink:label="loc_deiEntityCurrentReportingStatus" />
      <link:presentationArc order="450" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityCurrentReportingStatus" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityInteractiveDataCurrent" xlink:label="loc_deiEntityInteractiveDataCurrent" />
      <link:presentationArc order="460" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityInteractiveDataCurrent" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityFilerCategory" xlink:label="loc_deiEntityFilerCategory" />
      <link:presentationArc order="470" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityFilerCategory" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntitySmallBusiness" xlink:label="loc_deiEntitySmallBusiness" />
      <link:presentationArc order="480" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntitySmallBusiness" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityEmergingGrowthCompany" xlink:label="loc_deiEntityEmergingGrowthCompany" />
      <link:presentationArc order="490" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityEmergingGrowthCompany" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityExTransitionPeriod" xlink:label="loc_deiEntityExTransitionPeriod" />
      <link:presentationArc order="500" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityExTransitionPeriod" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentAccountingStandard" xlink:label="loc_deiDocumentAccountingStandard" />
      <link:presentationArc order="510" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentAccountingStandard" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_OtherReportingStandardItemNumber" xlink:label="loc_deiOtherReportingStandardItemNumber" />
      <link:presentationArc order="520" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiOtherReportingStandardItemNumber" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityShellCompany" xlink:label="loc_deiEntityShellCompany" />
      <link:presentationArc order="530" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityShellCompany" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityPublicFloat" xlink:label="loc_deiEntityPublicFloat" />
      <link:presentationArc order="540" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityPublicFloat" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityBankruptcyProceedingsReportingCurrent" xlink:label="loc_deiEntityBankruptcyProceedingsReportingCurrent" />
      <link:presentationArc order="550" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityBankruptcyProceedingsReportingCurrent" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="loc_deiEntityCommonStockSharesOutstanding" />
      <link:presentationArc order="560" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityCommonStockSharesOutstanding" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentsIncorporatedByReferenceTextBlock" xlink:label="loc_deiDocumentsIncorporatedByReferenceTextBlock" />
      <link:presentationArc order="570" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentsIncorporatedByReferenceTextBlock" xlink:type="arc" />
    </link:presentationLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>7
<FILENAME>tm2026498-2_8k_htm.xml
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<XML>
<?xml version="1.0" encoding="utf-8"?>
<xbrl
  xmlns="http://www.xbrl.org/2003/instance"
  xmlns:dei="http://xbrl.sec.gov/dei/2020-01-31"
  xmlns:iso4217="http://www.xbrl.org/2003/iso4217"
  xmlns:link="http://www.xbrl.org/2003/linkbase"
  xmlns:xlink="http://www.w3.org/1999/xlink">
    <link:schemaRef xlink:href="o-20200805.xsd" xlink:type="simple"/>
    <context id="From2020-08-05to2020-08-05">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000726728</identifier>
        </entity>
        <period>
            <startDate>2020-08-05</startDate>
            <endDate>2020-08-05</endDate>
        </period>
    </context>
    <unit id="USD">
        <measure>iso4217:USD</measure>
    </unit>
    <unit id="Shares">
        <measure>shares</measure>
    </unit>
    <unit id="USDPShares">
        <divide>
            <unitNumerator>
                <measure>iso4217:USD</measure>
            </unitNumerator>
            <unitDenominator>
                <measure>shares</measure>
            </unitDenominator>
        </divide>
    </unit>
    <dei:EntityCentralIndexKey contextRef="From2020-08-05to2020-08-05">0000726728</dei:EntityCentralIndexKey>
    <dei:AmendmentFlag contextRef="From2020-08-05to2020-08-05">false</dei:AmendmentFlag>
    <dei:DocumentType contextRef="From2020-08-05to2020-08-05">8-K</dei:DocumentType>
    <dei:DocumentPeriodEndDate contextRef="From2020-08-05to2020-08-05">2020-08-05</dei:DocumentPeriodEndDate>
    <dei:EntityRegistrantName contextRef="From2020-08-05to2020-08-05">REALTY INCOME CORPORATION</dei:EntityRegistrantName>
    <dei:EntityIncorporationStateCountryCode contextRef="From2020-08-05to2020-08-05">MD</dei:EntityIncorporationStateCountryCode>
    <dei:EntityFileNumber contextRef="From2020-08-05to2020-08-05">1-13374</dei:EntityFileNumber>
    <dei:EntityTaxIdentificationNumber contextRef="From2020-08-05to2020-08-05">33-0580106</dei:EntityTaxIdentificationNumber>
    <dei:EntityAddressAddressLine1 contextRef="From2020-08-05to2020-08-05">11995 El Camino Real</dei:EntityAddressAddressLine1>
    <dei:EntityAddressCityOrTown contextRef="From2020-08-05to2020-08-05">San Diego</dei:EntityAddressCityOrTown>
    <dei:EntityAddressStateOrProvince contextRef="From2020-08-05to2020-08-05">CA</dei:EntityAddressStateOrProvince>
    <dei:EntityAddressPostalZipCode contextRef="From2020-08-05to2020-08-05">92130</dei:EntityAddressPostalZipCode>
    <dei:CityAreaCode contextRef="From2020-08-05to2020-08-05">858</dei:CityAreaCode>
    <dei:LocalPhoneNumber contextRef="From2020-08-05to2020-08-05">284-5000</dei:LocalPhoneNumber>
    <dei:WrittenCommunications contextRef="From2020-08-05to2020-08-05">false</dei:WrittenCommunications>
    <dei:SolicitingMaterial contextRef="From2020-08-05to2020-08-05">false</dei:SolicitingMaterial>
    <dei:PreCommencementTenderOffer contextRef="From2020-08-05to2020-08-05">false</dei:PreCommencementTenderOffer>
    <dei:PreCommencementIssuerTenderOffer contextRef="From2020-08-05to2020-08-05">false</dei:PreCommencementIssuerTenderOffer>
    <dei:Security12bTitle contextRef="From2020-08-05to2020-08-05">Common Stock, $0.01 Par Value</dei:Security12bTitle>
    <dei:TradingSymbol contextRef="From2020-08-05to2020-08-05">O</dei:TradingSymbol>
    <dei:SecurityExchangeName contextRef="From2020-08-05to2020-08-05">NYSE</dei:SecurityExchangeName>
    <dei:EntityEmergingGrowthCompany contextRef="From2020-08-05to2020-08-05">false</dei:EntityEmergingGrowthCompany>
</xbrl>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>8
<FILENAME>R1.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.2</span><table class="report" border="0" cellspacing="2" id="idm140676216488424">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Cover<br></strong></div></th>
<th class="th"><div>Aug. 05, 2020</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CoverAbstract', window );"><strong>Cover [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">8-K<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Aug.  05,  2020<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityFileNumber', window );">Entity File Number</a></td>
<td class="text">1-13374<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">REALTY INCOME CORPORATION<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0000726728<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityTaxIdentificationNumber', window );">Entity Tax Identification Number</a></td>
<td class="text">33-0580106<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryCode', window );">Entity Incorporation, State or Country Code</a></td>
<td class="text">MD<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">11995 El Camino Real<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">San Diego<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressStateOrProvince', window );">Entity Address, State or Province</a></td>
<td class="text">CA<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">92130<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">858<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">284-5000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_WrittenCommunications', window );">Written Communications</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SolicitingMaterial', window );">Soliciting Material</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_PreCommencementTenderOffer', window );">Pre-commencement Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_PreCommencementIssuerTenderOffer', window );">Pre-commencement Issuer Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Common Stock, $0.01 Par Value<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">O<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CityAreaCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Area code of city</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CityAreaCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CoverAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cover page.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CoverAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is YYYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Address Line 1 such as Attn, Building Name, Street Name</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCityOrTown">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the City or Town</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCityOrTown</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressPostalZipCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Code for the postal or zip code</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressPostalZipCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressStateOrProvince">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the state or province.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressStateOrProvince</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:stateOrProvinceItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFileNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFileNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fileNumberItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityIncorporationStateCountryCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Two-character EDGAR code representing the state or country of incorporation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityIncorporationStateCountryCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarStateCountryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityTaxIdentificationNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityTaxIdentificationNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:employerIdItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LocalPhoneNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Local phone number for entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LocalPhoneNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementIssuerTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 13e<br> -Subsection 4c<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementIssuerTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 14d<br> -Subsection 2b<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_Security12bTitle">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Title of a 12(b) registered security.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_Security12bTitle</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:securityTitleItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SecurityExchangeName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the Exchange on which a security is registered.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection d1-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SecurityExchangeName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarExchangeCodeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SolicitingMaterial">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Section 14a<br> -Number 240<br> -Subsection 12<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SolicitingMaterial</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_TradingSymbol">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_TradingSymbol</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:tradingSymbolItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_WrittenCommunications">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br> -Section 425<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_WrittenCommunications</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EXCEL
<SEQUENCE>9
<FILENAME>Financial_Report.xlsx
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
begin 644 Financial_Report.xlsx
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M=]W3CHG&K=!X#;[Q3X?#KHG&J]!TZVDF)_VN:Z3I%FA"1N/K>A(5M>5 TR
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M!Z.:60F]A%9JGZJ'-#ZH'C(*!?&Y'C[E>G@*-Y;&O%"N@GL!_]':-\*K^(+
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MU4#E/]O4#6CV#30<D05>,9FV-J/D3@H\W/[O#;#"Q([A[8N_ 5!+ P04
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M<&E]W)(>&T;MLFW@2AG85&:'6]C&<VUO@.MKI<Q[P^XL\S\&!G\#4$L#!!0
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M;%!+ 0(4 Q0    ( -:!!5$;^0P][P   "L"   1              "  :\
M  !D;V-0<F]P<R]C;W)E+GAM;%!+ 0(4 Q0    ( -:!!5&97)PC$ 8  )PG
M   3              "  <T!  !X;"]T:&5M92]T:&5M93$N>&UL4$L! A0#
M%     @ UH$%47*F#XTQ!   )!   !@              ("!#@@  'AL+W=O
M<FMS:&5E=',O<VAE970Q+GAM;%!+ 0(4 Q0    ( -:!!5&#J:4#U $  #(&
M   -              "  74,  !X;"]S='EL97,N>&UL4$L! A0#%     @
MUH$%49>*NQS     $P(   L              ( != X  %]R96QS+RYR96QS
M4$L! A0#%     @ UH$%4:K$(A8S 0  (@(   \              ( !70\
M 'AL+W=O<FMB;V]K+GAM;%!+ 0(4 Q0    ( -:!!5$D'INBK0   /@!   :
M              "  ;T0  !X;"]?<F5L<R]W;W)K8F]O:RYX;6PN<F5L<U!+
M 0(4 Q0    ( -:!!5%ED'F2&0$  ,\#   3              "  :(1  !;
H0V]N=&5N=%]4>7!E<UTN>&UL4$L%!@     )  D /@(  .P2      $!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>10
<FILENAME>Show.js
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
// Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission.  Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105.
var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0);
e.removeAttribute('id');a.parentNode.appendChild(e)}}
if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'}
e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>11
<FILENAME>report.css
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
/* Updated 2009-11-04 */
/* v2.2.0.24 */

/* DefRef Styles */
..report table.authRefData{
	background-color: #def;
	border: 2px solid #2F4497;
	font-size: 1em;
	position: absolute;
}

..report table.authRefData a {
	display: block;
	font-weight: bold;
}

..report table.authRefData p {
	margin-top: 0px;
}

..report table.authRefData .hide {
	background-color: #2F4497;
	padding: 1px 3px 0px 0px;
	text-align: right;
}

..report table.authRefData .hide a:hover {
	background-color: #2F4497;
}

..report table.authRefData .body {
	height: 150px;
	overflow: auto;
	width: 400px;
}

..report table.authRefData table{
	font-size: 1em;
}

/* Report Styles */
..pl a, .pl a:visited {
	color: black;
	text-decoration: none;
}

/* table */
..report {
	background-color: white;
	border: 2px solid #acf;
	clear: both;
	color: black;
	font: normal 8pt Helvetica, Arial, san-serif;
	margin-bottom: 2em;
}

..report hr {
	border: 1px solid #acf;
}

/* Top labels */
..report th {
	background-color: #acf;
	color: black;
	font-weight: bold;
	text-align: center;
}

..report th.void	{
	background-color: transparent;
	color: #000000;
	font: bold 10pt Helvetica, Arial, san-serif;
	text-align: left;
}

..report .pl {
	text-align: left;
	vertical-align: top;
	white-space: normal;
	width: 200px;
	white-space: normal; /* word-wrap: break-word; */
}

..report td.pl a.a {
	cursor: pointer;
	display: block;
	width: 200px;
	overflow: hidden;
}

..report td.pl div.a {
	width: 200px;
}

..report td.pl a:hover {
	background-color: #ffc;
}

/* Header rows... */
..report tr.rh {
	background-color: #acf;
	color: black;
	font-weight: bold;
}

/* Calendars... */
..report .rc {
	background-color: #f0f0f0;
}

/* Even rows... */
..report .re, .report .reu {
	background-color: #def;
}

..report .reu td {
	border-bottom: 1px solid black;
}

/* Odd rows... */
..report .ro, .report .rou {
	background-color: white;
}

..report .rou td {
	border-bottom: 1px solid black;
}

..report .rou table td, .report .reu table td {
	border-bottom: 0px solid black;
}

/* styles for footnote marker */
..report .fn {
	white-space: nowrap;
}

/* styles for numeric types */
..report .num, .report .nump {
	text-align: right;
	white-space: nowrap;
}

..report .nump {
	padding-left: 2em;
}

..report .nump {
	padding: 0px 0.4em 0px 2em;
}

/* styles for text types */
..report .text {
	text-align: left;
	white-space: normal;
}

..report .text .big {
	margin-bottom: 1em;
	width: 17em;
}

..report .text .more {
	display: none;
}

..report .text .note {
	font-style: italic;
	font-weight: bold;
}

..report .text .small {
	width: 10em;
}

..report sup {
	font-style: italic;
}

..report .outerFootnotes {
	font-size: 1em;
}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>12
<FILENAME>FilingSummary.xml
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<XML>
<?xml version='1.0' encoding='utf-8'?>
<FilingSummary>
  <Version>3.20.2</Version>
  <ProcessingTime/>
  <ReportFormat>html</ReportFormat>
  <ContextCount>1</ContextCount>
  <ElementCount>95</ElementCount>
  <EntityCount>1</EntityCount>
  <FootnotesReported>false</FootnotesReported>
  <SegmentCount>0</SegmentCount>
  <ScenarioCount>0</ScenarioCount>
  <TuplesReported>false</TuplesReported>
  <UnitCount>3</UnitCount>
  <MyReports>
    <Report instance="tm2026498-2_8k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R1.htm</HtmlFileName>
      <LongName>00000001 - Document - Cover</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://realtyincome.com/role/Cover</Role>
      <ShortName>Cover</ShortName>
      <MenuCategory>Cover</MenuCategory>
      <Position>1</Position>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <LongName>All Reports</LongName>
      <ReportType>Book</ReportType>
      <ShortName>All Reports</ShortName>
    </Report>
  </MyReports>
  <InputFiles>
    <File doctype="8-K" original="tm2026498-2_8k.htm">tm2026498-2_8k.htm</File>
    <File>o-20200805.xsd</File>
    <File>o-20200805_lab.xml</File>
    <File>o-20200805_pre.xml</File>
    <File>tm2026498d2_ex1-1.htm</File>
    <File>tm2026498d2_ex99-1.htm</File>
  </InputFiles>
  <SupplementalFiles/>
  <BaseTaxonomies>
    <BaseTaxonomy>http://xbrl.sec.gov/dei/2020-01-31</BaseTaxonomy>
  </BaseTaxonomies>
  <HasPresentationLinkbase>true</HasPresentationLinkbase>
  <HasCalculationLinkbase>false</HasCalculationLinkbase>
</FilingSummary>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>JSON
<SEQUENCE>14
<FILENAME>MetaLinks.json
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
{
 "instance": {
  "tm2026498-2_8k.htm": {
   "axisCustom": 0,
   "axisStandard": 0,
   "contextCount": 1,
   "dts": {
    "definitionLink": {
     "remote": [
      "http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-eedm-def-2020-01-31.xml",
      "http://xbrl.fasb.org/srt/2020/elts/srt-eedm1-def-2020-01-31.xml"
     ]
    },
    "inline": {
     "local": [
      "tm2026498-2_8k.htm"
     ]
    },
    "labelLink": {
     "local": [
      "o-20200805_lab.xml"
     ],
     "remote": [
      "https://xbrl.sec.gov/dei/2020/dei-doc-2020-01-31.xml"
     ]
    },
    "presentationLink": {
     "local": [
      "o-20200805_pre.xml"
     ]
    },
    "referenceLink": {
     "remote": [
      "https://xbrl.sec.gov/dei/2020/dei-ref-2020-01-31.xml"
     ]
    },
    "schema": {
     "local": [
      "o-20200805.xsd"
     ],
     "remote": [
      "http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd",
      "http://www.xbrl.org/2003/xl-2003-12-31.xsd",
      "http://www.xbrl.org/2003/xlink-2003-12-31.xsd",
      "https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd",
      "http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd",
      "http://www.xbrl.org/2005/xbrldt-2005.xsd",
      "http://www.xbrl.org/dtr/type/nonNumeric-2009-12-16.xsd",
      "http://www.xbrl.org/dtr/type/numeric-2009-12-16.xsd",
      "http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd",
      "http://www.xbrl.org/lrr/role/net-2009-12-16.xsd",
      "http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd",
      "http://xbrl.fasb.org/us-gaap/2020/elts/us-roles-2020-01-31.xsd",
      "http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd",
      "http://www.xbrl.org/2006/ref-2006-02-27.xsd",
      "http://xbrl.fasb.org/srt/2020/elts/srt-types-2020-01-31.xsd",
      "http://xbrl.fasb.org/srt/2020/elts/srt-roles-2020-01-31.xsd",
      "https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd",
      "http://xbrl.fasb.org/us-gaap/2020/elts/us-types-2020-01-31.xsd",
      "http://www.xbrl.org/lrr/role/deprecated-2009-12-16.xsd"
     ]
    }
   },
   "elementCount": 59,
   "entityCount": 1,
   "hidden": {
    "http://xbrl.sec.gov/dei/2020-01-31": 2,
    "total": 2
   },
   "keyCustom": 0,
   "keyStandard": 95,
   "memberCustom": 0,
   "memberStandard": 0,
   "nsprefix": "o",
   "nsuri": "http://realtyincome.com/20200805",
   "report": {
    "R1": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "b",
       "p",
       "body",
       "html"
      ],
      "baseRef": "tm2026498-2_8k.htm",
      "contextRef": "From2020-08-05to2020-08-05",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "dei:DocumentType",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     },
     "groupType": "document",
     "isDefault": "true",
     "longName": "00000001 - Document - Cover",
     "role": "http://realtyincome.com/role/Cover",
     "shortName": "Cover",
     "subGroupType": "",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "b",
       "p",
       "body",
       "html"
      ],
      "baseRef": "tm2026498-2_8k.htm",
      "contextRef": "From2020-08-05to2020-08-05",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "dei:DocumentType",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     }
    }
   },
   "segmentCount": 0,
   "tag": {
    "dei_AmendmentDescription": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Description of changes contained within amended document.",
        "label": "Amendment Description"
       }
      }
     },
     "localname": "AmendmentDescription",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "stringItemType"
    },
    "dei_AmendmentFlag": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.",
        "label": "Amendment Flag"
       }
      }
     },
     "localname": "AmendmentFlag",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_AnnualInformationForm": {
     "auth_ref": [
      "r12"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Boolean flag with value true on a form if it is an annual report containing an annual information form.",
        "label": "Annual Information Form"
       }
      }
     },
     "localname": "AnnualInformationForm",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_AuditedAnnualFinancialStatements": {
     "auth_ref": [
      "r12"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Boolean flag with value true on a form if it is an annual report containing audited financial statements.",
        "label": "Audited Annual Financial Statements"
       }
      }
     },
     "localname": "AuditedAnnualFinancialStatements",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_CityAreaCode": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Area code of city",
        "label": "City Area Code"
       }
      }
     },
     "localname": "CityAreaCode",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_CountryRegion": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Region code of country",
        "label": "Country Region"
       }
      }
     },
     "localname": "CountryRegion",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_CoverAbstract": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Cover page.",
        "label": "Cover [Abstract]"
       }
      }
     },
     "localname": "CoverAbstract",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "xbrltype": "stringItemType"
    },
    "dei_CurrentFiscalYearEndDate": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "End date of current fiscal year in the format --MM-DD.",
        "label": "Current Fiscal Year End Date"
       }
      }
     },
     "localname": "CurrentFiscalYearEndDate",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "gMonthDayItemType"
    },
    "dei_DocumentAccountingStandard": {
     "auth_ref": [
      "r11"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The basis of accounting the registrant has used to prepare the financial statements included in this filing This can either be 'U.S. GAAP', 'International Financial Reporting Standards', or 'Other'.",
        "label": "Document Accounting Standard"
       }
      }
     },
     "localname": "DocumentAccountingStandard",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "accountingStandardItemType"
    },
    "dei_DocumentAnnualReport": {
     "auth_ref": [
      "r9",
      "r11",
      "r12"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Boolean flag that is true only for a form used as an annual report.",
        "label": "Document Annual Report"
       }
      }
     },
     "localname": "DocumentAnnualReport",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_DocumentFiscalPeriodFocus": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Fiscal period values are FY, Q1, Q2, and Q3.  1st, 2nd and 3rd quarter 10-Q or 10-QT statements have value Q1, Q2, and Q3 respectively, with 10-K, 10-KT or other fiscal year statements having FY.",
        "label": "Document Fiscal Period Focus"
       }
      }
     },
     "localname": "DocumentFiscalPeriodFocus",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "fiscalPeriodItemType"
    },
    "dei_DocumentFiscalYearFocus": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "This is focus fiscal year of the document report in YYYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.",
        "label": "Document Fiscal Year Focus"
       }
      }
     },
     "localname": "DocumentFiscalYearFocus",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "gYearItemType"
    },
    "dei_DocumentPeriodEndDate": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is YYYY-MM-DD.",
        "label": "Document Period End Date"
       }
      }
     },
     "localname": "DocumentPeriodEndDate",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "dateItemType"
    },
    "dei_DocumentPeriodStartDate": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The start date of the period covered in the document, in YYYY-MM-DD format.",
        "label": "Document Period Start Date"
       }
      }
     },
     "localname": "DocumentPeriodStartDate",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "dateItemType"
    },
    "dei_DocumentQuarterlyReport": {
     "auth_ref": [
      "r10"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Boolean flag that is true only for a form used as an quarterly report.",
        "label": "Document Quarterly Report"
       }
      }
     },
     "localname": "DocumentQuarterlyReport",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_DocumentRegistrationStatement": {
     "auth_ref": [
      "r18"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Boolean flag that is true only for a form used as a registration statement.",
        "label": "Document Registration Statement"
       }
      }
     },
     "localname": "DocumentRegistrationStatement",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_DocumentShellCompanyEventDate": {
     "auth_ref": [
      "r11"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Date of event requiring a shell company report.",
        "label": "Document Shell Company Event Date"
       }
      }
     },
     "localname": "DocumentShellCompanyEventDate",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "dateItemType"
    },
    "dei_DocumentShellCompanyReport": {
     "auth_ref": [
      "r11"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Boolean flag that is true for a Shell Company Report pursuant to section 13 or 15(d) of the Exchange Act.",
        "label": "Document Shell Company Report"
       }
      }
     },
     "localname": "DocumentShellCompanyReport",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_DocumentTransitionReport": {
     "auth_ref": [
      "r13"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Boolean flag that is true only for a form used as a transition report.",
        "label": "Document Transition Report"
       }
      }
     },
     "localname": "DocumentTransitionReport",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_DocumentType": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.",
        "label": "Document Type"
       }
      }
     },
     "localname": "DocumentType",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "submissionTypeItemType"
    },
    "dei_DocumentsIncorporatedByReferenceTextBlock": {
     "auth_ref": [
      "r1"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Documents incorporated by reference.",
        "label": "Documents Incorporated by Reference [Text Block]"
       }
      }
     },
     "localname": "DocumentsIncorporatedByReferenceTextBlock",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "textBlockItemType"
    },
    "dei_EntityAddressAddressLine1": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Address Line 1 such as Attn, Building Name, Street Name",
        "label": "Entity Address, Address Line One"
       }
      }
     },
     "localname": "EntityAddressAddressLine1",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_EntityAddressAddressLine2": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Address Line 2 such as Street or Suite number",
        "label": "Entity Address, Address Line Two"
       }
      }
     },
     "localname": "EntityAddressAddressLine2",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_EntityAddressAddressLine3": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Address Line 3 such as an Office Park",
        "label": "Entity Address, Address Line Three"
       }
      }
     },
     "localname": "EntityAddressAddressLine3",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_EntityAddressCityOrTown": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Name of the City or Town",
        "label": "Entity Address, City or Town"
       }
      }
     },
     "localname": "EntityAddressCityOrTown",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_EntityAddressCountry": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "ISO 3166-1 alpha-2 country code.",
        "label": "Entity Address, Country"
       }
      }
     },
     "localname": "EntityAddressCountry",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "countryCodeItemType"
    },
    "dei_EntityAddressPostalZipCode": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Code for the postal or zip code",
        "label": "Entity Address, Postal Zip Code"
       }
      }
     },
     "localname": "EntityAddressPostalZipCode",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_EntityAddressStateOrProvince": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Name of the state or province.",
        "label": "Entity Address, State or Province"
       }
      }
     },
     "localname": "EntityAddressStateOrProvince",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "stateOrProvinceItemType"
    },
    "dei_EntityBankruptcyProceedingsReportingCurrent": {
     "auth_ref": [
      "r4"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "For registrants involved in bankruptcy proceedings during the preceding five years, the value Yes indicates that the registrant has filed all documents and reports required to be filed by Section 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court; the value No indicates the registrant has not.  Registrants not involved in bankruptcy proceedings during the preceding five years should not report this element.",
        "label": "Entity Bankruptcy Proceedings, Reporting Current"
       }
      }
     },
     "localname": "EntityBankruptcyProceedingsReportingCurrent",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_EntityCentralIndexKey": {
     "auth_ref": [
      "r14"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.",
        "label": "Entity Central Index Key"
       }
      }
     },
     "localname": "EntityCentralIndexKey",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "centralIndexKeyItemType"
    },
    "dei_EntityCommonStockSharesOutstanding": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument.",
        "label": "Entity Common Stock, Shares Outstanding"
       }
      }
     },
     "localname": "EntityCommonStockSharesOutstanding",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "sharesItemType"
    },
    "dei_EntityCurrentReportingStatus": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Indicate 'Yes' or 'No' whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure.",
        "label": "Entity Current Reporting Status"
       }
      }
     },
     "localname": "EntityCurrentReportingStatus",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "yesNoItemType"
    },
    "dei_EntityEmergingGrowthCompany": {
     "auth_ref": [
      "r14"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Indicate if registrant meets the emerging growth company criteria.",
        "label": "Entity Emerging Growth Company"
       }
      }
     },
     "localname": "EntityEmergingGrowthCompany",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_EntityExTransitionPeriod": {
     "auth_ref": [
      "r17"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Indicate if an emerging growth company has elected not to use the extended transition period for complying with any new or revised financial accounting standards.",
        "label": "Elected Not To Use the Extended Transition Period"
       }
      }
     },
     "localname": "EntityExTransitionPeriod",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_EntityFileNumber": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.",
        "label": "Entity File Number"
       }
      }
     },
     "localname": "EntityFileNumber",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "fileNumberItemType"
    },
    "dei_EntityFilerCategory": {
     "auth_ref": [
      "r14"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Indicate whether the registrant is one of the following: Large Accelerated Filer, Accelerated Filer, Non-accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.",
        "label": "Entity Filer Category"
       }
      }
     },
     "localname": "EntityFilerCategory",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "filerCategoryItemType"
    },
    "dei_EntityIncorporationStateCountryCode": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Two-character EDGAR code representing the state or country of incorporation.",
        "label": "Entity Incorporation, State or Country Code"
       }
      }
     },
     "localname": "EntityIncorporationStateCountryCode",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "edgarStateCountryItemType"
    },
    "dei_EntityInteractiveDataCurrent": {
     "auth_ref": [
      "r15"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Boolean flag that is true when the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).",
        "label": "Entity Interactive Data Current"
       }
      }
     },
     "localname": "EntityInteractiveDataCurrent",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "yesNoItemType"
    },
    "dei_EntityPrimarySicNumber": {
     "auth_ref": [
      "r12"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Primary Standard Industrial Classification (SIC) Number for the Entity.",
        "label": "Entity Primary SIC Number"
       }
      }
     },
     "localname": "EntityPrimarySicNumber",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "sicNumberItemType"
    },
    "dei_EntityPublicFloat": {
     "auth_ref": [],
     "crdr": "credit",
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at which the common equity was last sold, or the average bid and asked price of such common equity, as of the last business day of the registrant's most recently completed second fiscal quarter.",
        "label": "Entity Public Float"
       }
      }
     },
     "localname": "EntityPublicFloat",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "monetaryItemType"
    },
    "dei_EntityRegistrantName": {
     "auth_ref": [
      "r14"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.",
        "label": "Entity Registrant Name"
       }
      }
     },
     "localname": "EntityRegistrantName",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_EntityShellCompany": {
     "auth_ref": [
      "r14"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Boolean flag that is true when the registrant is a shell company as defined in Rule 12b-2 of the Exchange Act.",
        "label": "Entity Shell Company"
       }
      }
     },
     "localname": "EntityShellCompany",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_EntitySmallBusiness": {
     "auth_ref": [
      "r14"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Indicates that the company is a Smaller Reporting Company (SRC).",
        "label": "Entity Small Business"
       }
      }
     },
     "localname": "EntitySmallBusiness",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_EntityTaxIdentificationNumber": {
     "auth_ref": [
      "r14"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.",
        "label": "Entity Tax Identification Number"
       }
      }
     },
     "localname": "EntityTaxIdentificationNumber",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "employerIdItemType"
    },
    "dei_EntityVoluntaryFilers": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Indicate 'Yes' or 'No' if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.",
        "label": "Entity Voluntary Filers"
       }
      }
     },
     "localname": "EntityVoluntaryFilers",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "yesNoItemType"
    },
    "dei_EntityWellKnownSeasonedIssuer": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Indicate 'Yes' or 'No' if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A.",
        "label": "Entity Well-known Seasoned Issuer"
       }
      }
     },
     "localname": "EntityWellKnownSeasonedIssuer",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "yesNoItemType"
    },
    "dei_Extension": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Extension number for local phone number.",
        "label": "Extension"
       }
      }
     },
     "localname": "Extension",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_LocalPhoneNumber": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Local phone number for entity.",
        "label": "Local Phone Number"
       }
      }
     },
     "localname": "LocalPhoneNumber",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_NoTradingSymbolFlag": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Boolean flag that is true only for a security having no trading symbol.",
        "label": "No Trading Symbol Flag"
       }
      }
     },
     "localname": "NoTradingSymbolFlag",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_OtherReportingStandardItemNumber": {
     "auth_ref": [
      "r11"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "\"Item 17\" or \"Item 18\" specified when the basis of accounting is neither US GAAP nor IFRS.",
        "label": "Other Reporting Standard Item Number"
       }
      }
     },
     "localname": "OtherReportingStandardItemNumber",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "otherReportingStandardItemNumberItemType"
    },
    "dei_PreCommencementIssuerTenderOffer": {
     "auth_ref": [
      "r5"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.",
        "label": "Pre-commencement Issuer Tender Offer"
       }
      }
     },
     "localname": "PreCommencementIssuerTenderOffer",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_PreCommencementTenderOffer": {
     "auth_ref": [
      "r6"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.",
        "label": "Pre-commencement Tender Offer"
       }
      }
     },
     "localname": "PreCommencementTenderOffer",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_Security12bTitle": {
     "auth_ref": [
      "r0"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Title of a 12(b) registered security.",
        "label": "Title of 12(b) Security"
       }
      }
     },
     "localname": "Security12bTitle",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "securityTitleItemType"
    },
    "dei_Security12gTitle": {
     "auth_ref": [
      "r3"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Title of a 12(g) registered security.",
        "label": "Title of 12(g) Security"
       }
      }
     },
     "localname": "Security12gTitle",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "securityTitleItemType"
    },
    "dei_SecurityExchangeName": {
     "auth_ref": [
      "r2"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Name of the Exchange on which a security is registered.",
        "label": "Security Exchange Name"
       }
      }
     },
     "localname": "SecurityExchangeName",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "edgarExchangeCodeItemType"
    },
    "dei_SecurityReportingObligation": {
     "auth_ref": [
      "r7"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "15(d), indicating whether the security has a reporting obligation under that section of the Exchange Act.",
        "label": "Security Reporting Obligation"
       }
      }
     },
     "localname": "SecurityReportingObligation",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "securityReportingObligationItemType"
    },
    "dei_SolicitingMaterial": {
     "auth_ref": [
      "r8"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.",
        "label": "Soliciting Material"
       }
      }
     },
     "localname": "SolicitingMaterial",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_TradingSymbol": {
     "auth_ref": [],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Trading symbol of an instrument as listed on an exchange.",
        "label": "Trading Symbol"
       }
      }
     },
     "localname": "TradingSymbol",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "tradingSymbolItemType"
    },
    "dei_WrittenCommunications": {
     "auth_ref": [
      "r16"
     ],
     "lang": {
      "en-US": {
       "role": {
        "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.",
        "label": "Written Communications"
       }
      }
     },
     "localname": "WrittenCommunications",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://realtyincome.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    }
   },
   "unitCount": 3
  }
 },
 "std_ref": {
  "r0": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "12",
   "Subsection": "b"
  },
  "r1": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "12",
   "Subsection": "b-23"
  },
  "r10": {
   "Name": "Form 10-Q",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "308",
   "Subsection": "a"
  },
  "r11": {
   "Name": "Form 20-F",
   "Number": "249",
   "Publisher": "SEC",
   "Section": "220",
   "Subsection": "f"
  },
  "r12": {
   "Name": "Form 40-F",
   "Number": "249",
   "Publisher": "SEC",
   "Section": "240",
   "Subsection": "f"
  },
  "r13": {
   "Name": "Forms 10-K, 10-Q, 20-F",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "13",
   "Subsection": "a-1"
  },
  "r14": {
   "Name": "Regulation 12B",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "12",
   "Subsection": "b-2"
  },
  "r15": {
   "Name": "Regulation S-T",
   "Number": "232",
   "Publisher": "SEC",
   "Section": "405"
  },
  "r16": {
   "Name": "Securities Act",
   "Number": "230",
   "Publisher": "SEC",
   "Section": "425"
  },
  "r17": {
   "Name": "Securities Act",
   "Number": "7A",
   "Publisher": "SEC",
   "Section": "B",
   "Subsection": "2"
  },
  "r18": {
   "Name": "Securities Act",
   "Number": "Section",
   "Publisher": "SEC",
   "Section": "12"
  },
  "r2": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "12",
   "Subsection": "d1-1"
  },
  "r3": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "12",
   "Subsection": "g"
  },
  "r4": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "12, 13, 15d"
  },
  "r5": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "13e",
   "Subsection": "4c"
  },
  "r6": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "14d",
   "Subsection": "2b"
  },
  "r7": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "15",
   "Subsection": "d"
  },
  "r8": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "14a",
   "Subsection": "12"
  },
  "r9": {
   "Name": "Form 10-K",
   "Number": "249",
   "Publisher": "SEC",
   "Section": "310"
  }
 },
 "version": "2.1"
}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>ZIP
<SEQUENCE>15
<FILENAME>0001104659-20-090840-xbrl.zip
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
begin 644 0001104659-20-090840-xbrl.zip
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M5PMXHG&?TGA"Z5'=3:7SC1**5F81;H/E4&S&,>A20K950I,3N +*S9C9UHK
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MQ'V=[);!MI9=S&.Y7QLDD[3+?U!+ P04    " #6@051A]18:_T*  #?AP
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MV"2B(0F(")LO@(A<BK36(Q&7&R+6LMO[2?#7[+%<E18L(:!V2TBGY28I5FE
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M>&ULS9Q-<]LV$(;OG>E_8)6S),MNVMBQF[$5*Z.)$[N6D[2]9"!R)6$, AH
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MM=ZX SM%8&Y=;X)L79%O_#FN66Y]@56/Z21-W[V*W+7G/BXM5\ZLW1$JW?%
M^#"H/:W> >,\*&$;2%MC]=3.@+<] O^A9-$\ZJQ0OW*'OI?-70Z-U2RUZ_H$
M&X(H6_GN;/9,VC_-MS65!U=OM6N[%ON>;0?Q4J>)TAEHQWU=%]/I3N@.>^K*
MHCUEVE743"=<;*(^TBH/,5KQ4 %'MW&Y)GXFTTOG1>8]Z0DVKH:Z9X*DVJ'
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M<X_Q&R=$<6R42-^^A,90$:SS]H&N&W? OP9X^8W_Y5]UZX[\#U!+ P04
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MJ05T">15*"6RCRYM48ZTE)9"HK])7(/1OA##^IH?"XUAB+@9RUQ)  ';,1W
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M >;:\4%\VMKC=Q@'F>'FL5Y!*P]."Y"! ^J5BP(H,AQ0G#0(3&E  Q4J@J>
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MBG ,AN.X58X_ZX%)\G2-!J;;>R57C*/09&DAUM(AF(=8P]:W2&^<ZM[7-]C
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M=?LL\&FRV@TSHK-O(F_HJ!1]MT+DT0M) LT]H$9<[ *:!"Y'%3X(=(9R\H>
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M%94MR@+6?CG?IN'0K-;9LJ;QP"K I@)Y"-VJUMCM,UCIJF@J/%_ENTD)9ZK
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M<;63&9R!:6&J4"932E.)-39PV>#^A!W'D$S$MQ7(+(^/4Y8'X;]:IN/'Z9B
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M]CV/<4_=\-T^ZV:3"G7L.)T8#"JGK9O";(<9-%"H9;3Z3'$\>W <.UWDL-"
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M*0,M7\DVDIIV,K+HT#1$B);<,SGRKTCWPE),R-KX/F>/IL2"KY2-0/TW,.5
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MH,/?(#0W.W.E^TX?9(]3JD7WN$/JHC+KJI^13>6>%,JI/B@&=IC[QA>MG92
M>-3;"\E.?*,Q[9I<S"!U"\S(13/W++#E!:,J:B-P>L>UD(1;NRWG,]%AO=Z/
M1\TC(BMD2N>J0!:K1"V5 9"UI.M*W7C6845WX(NRAKOAG)4D48\'W0^*XY,Q
M7$4CZ":48>[;SE-/5YPW4D+L,BZ^Y#G8MQ?,<M23ZIPQNU\=NZ$$853#87G5
MOU")HS7/ BTG7^1H!@HYGYQYS'"VEI+2*PH[VPI$[Q?E=,^'/^T38SZ=FU;!
M_#[J[FJQYENKCVS+NHZ\](HWB'C<@Z_4G52>>ZQ,)"D)/57KJ2!]*]#X-!C>
M7]F/[=O;<=7L$M/^[BZF?1?3[LMB@5.XON@HCR!?]U M(;FD16_Z*QG\]P9.
MV\/[6,7@_G<DY7DULO\NEAL4"ES@X+O]'4SD7FV4_%5.@<0W71[IL(<DZU3;
M\;70C 7*>)M]L2@I)(/X*G0NE62/GDLPE63+AC-HXC#T5I=-I &]?^D>2^O4
MVCTG',#$[Y.+Q.6+:R%G%=GMUH(PP6GOH5=Q6((TUDAAS\.5S.1<;D@^ [Q)
MKF[WMSX<5'0U].P!*?"E94UQL=4':XGMQ?DY*G;K=-,-)BA<",2-]5JM3A;-
M-TV,>G3QJ;SWN S4_;CQ:>D?@J;0J$>JC]6 \^8CNA6708]@@\T*51C;+*@>
M"*@Q2NU?#V7(H]D@,_WOG2%?S7ID:-<H$C*%ZT7>[GZ8)(F/S>W.ZU;#=#P2
M/WKL 22#19U)E>X#<TKMUA,Y)>@[%(]6CV^35,F4\WVO/#@_0,TR=;=%1D[?
M5RTL1@&.D)U5F-NQXW6\+;E:IXENJ_YE-O<JH^D<C\B#GMW$@1[90WN>HEZQ
M!M?Y&Y(Z/?O("]UWX9&(PX(]#*A@(T1K0B)@R@4!AH?@NVN\F-TJBK'#@/$0
M]$%O&W5"XJ%%P?>FQE['_&9"R]B2V3\8CR*H.+?$<[NMGA7GB' WA?Z">Y-T
MU+,B$U>%U!!JR?M0"Q\ QG07*S.1R86D_1='3^2^S[<8RJ0>%;Z<I+Z)Z74M
M?)7O/*+YE;A":461HLV;+K/4$<7%C941?J"O%#6*KP'X>O=+6+IPRFZ .;F/
M=2?U%2=0-HA*JZ.1/.>X8@_:WXJHD8=%,?Z798_*1\GAL@CJ)YEN*"!06)<^
MU-[<M\2X"<W1!;+IZ8SAI<.,)"RZ7=9C#$B7"T,2+A_>SZ8(1N>%CI:03H*,
MH:N=R?81(CF"!YAZ'*!\^L?<DG"IT%P3BM)%>IVBHQ"B1K!9\@54(>LIV0RX
M@L3RI$LX4<H#&/,U[_J4TX?W[TUU6CD"XT+($RZ8-5R7FWI F8=@-U.)<^_T
M[4FET R&6U6F^_'@>$5%*M["(EG<;=-*K@W.!L9$D?[_^M.?:AYAWW;74!&U
MK!Z'#N6T8.H4G);E@L$!) X7DCPH+ 5Q54'%S\2[MO=\[57[@5%#O.P<N$*4
M MUF>\4^<F/&/O.>XR"R501><N&:$@!RYFP_^\\']_/[]_G_F?*E@H[P-*_L
M8)=H_O1T.D*BZQ)P/J(_,MCQMGJ'J2;K"R\[YACIQ%60?G:N=Y>J2;M@:)FE
M*C7N"Z9ZP;&1^Y7CH]@^.DI1Z=8RCU?7YT1RG-URL=D.=2C::*>]5YI>*&(+
M B%7!6E2A!SB=&-AU5/*-.^@V0)I:D"MIP? KH3B;5T15F< 7K[UI!!M^;IX
MP^3:Y4IC7/@S;F3J3<IWM?5^485%6S5=Q7$%47W@.=6H;FDW6.9NCYC^('MN
MBV2AXJ\?8\_E? 17!<\.X8VLCB>G"5  W$3"?SZBX^M[<"VBEUFO%@A<QMJ9
MYG9;ED;PH5#5\+>^96.0._08Q1?,QIP5BA#!1 9>BQ>)X^"6W&"[N.&_OW/#
MW[GA>[[BV4A2)&DPZ.GFW:K.( /FG$.W1+'"TC@HQ*I[]US.2FB@ C#UR;(T
M;$I\FKE7F.-X A?!M2R:JC"%W-6 PR19;P:>P"W)SA&(I-HV*%J+><!N<4+W
MLL>&IPCA@)-[/[7;;J+T<\.PO 0>Q0BDB+QU+[U'9WV$^]MTV9WLA-LB'QGJ
M>4V58Y=!>;I;U=-<F5L\4G>J[4<%R!TP25TEE)'H'I'H T6',),,;.?QB'PP
MZA@+E<\,G1==R.T&H7MWO"X?FRQ#*CSA:K$K.*I&?<=?\GF7A#3L>ZA;.B62
M8$%]><U<BVEY]0.:+)OV;MT^[;IQ!,D;CRS$@N*N%)!4[(" Z9*F@*Z71]L.
MXNUDGNDI$SPT :0IH6*Q0>M)ZT PX%#OC,#&2#DCEAVB:?1TB/R5E81HNR Y
MP__KBAGW3 KS5X+?!'(]QYQFZ#"JD"M-:4%=K8+)000]:EUL\FZP&N($M:;Y
MW.!WGK8WY\J@Q%M[#PQZ@K>25]T">.R&=PEG@JW@J;PE*E"T9@/;1? %%*>%
M71!H$N QAJZFNLZ*"ST;OP*G]=7G2V2;L!3BQ %#"9:DV8;(Q%3Y$QP41F+\
M%7GW**L+D[2*[+%_2/3BB/E # 8M'W!6M%5<:I/+++:M L5)(\<85_-&8RP9
MEZ23%T(U='*(^8*$P>E%-8A<D,J&YIIQKGO,JXA2)V*V.$?#&T GTDI/()L3
M#&)2(J$5"B59;L-&_O'9RQ>GVO2DGM?-G[/_.'SXX-GA?9&-VT%C3\I)N3B#
M?SQDO,NW$>B]4\U)&)1@HSLX>A"2,ZG9&N@G- J&.9=++N\(AF.0?&>EPV9G
M#UEM0>JL^"S2(A?3?VY:?#+"XNN%J \R#7+HDY PL\N8,-51@#U,2(5PNP??
MXPN']P_OY^)C_<KCH^S<:;B/<[*IYF%X+'=YOWAF9TD0GH]2_ [' LI^/L.T
MEX?W*>_H )/E:2TX.%/.Q46PX5H*5<,CLHFSS3! ;,B7H\#A*YX'UT?.Q^\N
M;IAL%5$(/,+CBYGF[%^GBS TQ50L9R71\%=EJ.Z J;,,[XKP6U&>+A%<8U+1
M!EDH7!"%9'"8YX/LQZ_Q? C+J4RL K>V<56D2<'I/HX6>^C^F$4H;%I'&;3M
M'C2N;0EI\C"%"";3A1T#=$=GOO3+383.$O2ZKJ^!U@+6=Q&V:<"/764<&\',
MY[)!F-A;%/"!BR5KKUKDR4337G]=>D96J8/6$V>.YG^(*D2Z<L-%"/SB&KI5
M?A=ZDV:*-O"Q7!WZ&RH;6TS+D.I-046E[^SO)$LCVW9Y@'5U,9I;>]T) OF9
M5I8%'WM5383R,AT(X;=MPH]U28D)]!GJ21$&:X55!Y$,R2.#B72=<H-$%W/X
MG%2+$-4DFKRU*U9])3GRE"*-"Z"[BB!TWK&6$&41^(X,C,A!J@3(%<M0,,X+
M@M$)A7ZI#D]BME5]KBE!6BX#XRPU0OYG85&G&9C54M!CABG3"#]BCAFCDH=9
MX<1:4@N89IXZD-YHG*HJ3\OI4:P,X8H/[U%LKZO'>52*%!G%SAJY0;06*  <
MGMM21X7QS+L%=9UBP!RM#_$.P3P(.Q@RCM7$)XEBAOS\ZYYO2_5Q.<!<S(0:
M[TN!0E=+M-9-<**2<4C!(K.BWI#RL*X1AT<&6Z=1@ND.-)AOT<S61ISBG*Y3
M/@HBFD"XS(@M FY/T8JK@_(@'X^0$.K*SZH.CS(A*5!,,'W;_LD&UXV@X$==
M.G)A% L"R?$WV/4;?TF$OLNZ7-;IET5J:<.>HT^KB%%!#HS&Z*9N,(U/L&G4
MG+'$A7EP3/KI?1(10<5;)%!?N:-Q6<8Q [$_>@&S5C(X7)0R"VQ8JAY.41^-
MVB"<L)(BG&>^,OCV3VPMJ1/V"FQ)9OCJ\W/D4JA'G?GF<H?]SWF6P81$5UR^
MQ1,5:?,!5GA&L,C8G-Z9"TL3[)&D+FQ^/@^#J#>]^CW<C1 ,?J)1C<A5],:[
M("Y)X! )I$-1?&7H)$LF<"W0$*G18R-C.K*0U7EK:$9VB,T_N'\7G+\+SO>K
M>%8A1/)6>]V\JFT%B<28[/8"JP]>&A28TBJ<:1,JJ9AW?7(!_2ICKH!@)?=Y
MV:.BE@PI!5DRJ5;,_,'")ZF]Q/""($SHTU2)$>3%-(+3TJ<XP=8CH ;%##%+
M#Y0^[7!4A8H=]7JP4SQ#G:XYCGS?&1/I+/34&P B#].?*[JNB&)4::=(C2$B
M*U;Z5NO@W>%T!/ZCJJ"TB&0GX<R(D17J3PG/A:;1N':<BVAF[^'ZJC]3?8_I
M O=5U09=F<J(U9Y_G.B#J ZFZ2KN!JW8CVKJ85-2.2C,O*E9U>299N1BZUC=
M>V9/T!_2&RZ'F,W@,F1$7J?05/P+]<'63':C V;%*[[R?(\-YS>X^P@>B XG
MRJIJWNJ4XLS<DAN-L<G$D=JES5?(M**E,<>DFDGU=>(@)I6LK^K)-KM"K'IV
M#5XI)E%TP6G))W;B5MCJU?>@*M@&Y;"/D';YJNQ>\G$&H??V)O$R35U#0KA*
MVJ,#P_I]T98L$MV\D .50*]G)>GPQ3LA=112NDB?0[.X.[P\=;K\Z2LTE!#]
MC&I4D( ,U!^/?/5GO2U2U=,<-P$@*<P3FY76=+:27.C8"C,#MD:U$$=U7W^1
M\Q;/!=N709 5?4\+8$OMD&*;06I7XI836:U#9,M9V$64]!R]/[!IS.:.B]))
M ;=;<KR?85H^7 =U4V[;+1A4C3==G _J8&X>$<5NDSB7CATX:EXY#,!W(;QO
M[-_!R^<\*CF5)4I2T2@BZ2$@ONJ6<L+$UE/J2@QE8]FWPW4MK3,65B #/K$?
M0RRPUWI#YPP7X[  "+MSVG2/=CT<YGPJUASFZL8UBOEDHRR#%XS#EW6Z+=OT
MAIXI!DOVRDAU19MD-T>D\_+->6]B;KD@^37]):)_A)-A94R]]$"7#R>0<9W'
M4+*4XL;R(78ULAO1/)KR-TW3E\\&+Z-<8=W*!$QN2FSE1)FWU:4(O7*A4?W*
M@(=1)^B6["7&ASY'B,C_($3DJ4!$'"7HKT)GZ[*1>CBN)1T\+H41RAK@%1)7
M,@[E)YT?K8M5:7UA;>9>.L&MTO<D<^2&AB5I4ZZO*?H!T:4$ ^#R\'7B:W(R
M2L\7D\=;^I,G3(IJ7"0(XA[,#5=_4J0U6W6H>@ST(-?J6E<AKX=CR<R$VU_[
M@EX<4$1R*0+A&"IO7@(B*NUQJ\[ *:SZ\XK+@BAYWY' L^#'8^1>YN(FL'4>
M)S2;1ZYR=#@Y'9*PD/FEM>G)ZHM(<'SE:@K]=5D]Y?KWY:JM98+XEX9Q@PL0
M"TM-F-O&\&8ROKD;KP)M]..]1=:DWZ@!Q5@D; T#J.386\\UL;E4B$><P>R(
M536++XR%Z[=NJQ%QMJGFN(SC$=?ZZ5YINX""8MO>V[J=9( \R>=TF W60@+Y
ML7E3\!GX"WH6>++AR,YH*L!\7VSFPCL-7T '%"GR;$$=^5!O-.TI @R_.A[1
M9YVB29&<\)!!=Z[M#*M[LG'<@OB0HDMHC28@XBC0[B8]H:N$"":VKJZ!QV@G
M7EG_-TNF]B9$'M6)TR!^RQ>".[M-W9;Q>)2C+X*F\1=NB1C[&ZQ1K88NBH(N
M+;T=7T=CFH5*)HNR.>>T9+?ZY(NR2X]9'^ Z[%S=CA%"D!\>VF7 'FEC/#*N
M=UPXR;_?X^@,Q8S8&&K>5N1(2G"/:^*\Z>EM'CCD):!BFVL_"C"-1]=%F+K(
MM/Y2KRES4S5S4W5),Y/(2F'#H"61PS0P&#EG5"!"8B8]E)3HUB[ILH:+NCAO
MBM6%]SISS78NG'4\\VMP@X7$VMA5O>FL*$8# R>-2UU>AV.G5TO_(-D\\4?3
M>FAG7ZZ/]T&\AIN-^D5@"\6PYMQ C5*L)AF&FD[.3"3B;V72KK1#T;<"0)7O
MX73N$Z!0"&#J14;Z*'1!D+:,U(VZW8-[Y:N!:&39T^"X A3LZQ$G?MZ<=6=@
M7"(6CU$<W7$WY6!"F!NB0L1"X;:#+(@GK?$91F<;R)&>9LPQB@"-\FV!45>6
MB):[UU:+:D[%*&(APK(MNBWV.-%E/Y[3/5FWS+1J>)I6P16"<L6V@GFID?C^
M*E>J7^R(5>ZO;3@><7%#:>RV$&CM%!-^<!<3OHL)7^>?9?!:DB_ RCE)@/'(
MW[EJ55WE3CPRS:0K]9AXWP-"1H5[R'9V]XO3>$ED"$FFR^9P7Q<DB&M;<3)Q
MV](OV,KDM[*,DAV_&0:,!@7::VI1$(T$EUWQ=X46X-JY7:L\%"JK<6>UKW5K
M39/_2)G+2BG"N;1+.Z45NRVRCOP*SUSFY2MQF047P2DJ@GW)F0)XEZJ1&ZQ
M<A7A3O<)/B]O2G%R=!DA#L(5M-34-PZX!:X9KZQU:IJQNS2MBV[42*HLAM(>
MW;*I#GI@&A('!:-"3[X6XFZL*:(Z8<P!#>=N#7<[*G+-]J:^VAVMR(&0.BM1
M!^ZB4;W%"8-#M:J\&1Z[P?M*I_>DY8]'/B\_H/HN*)U1IR,4-H]@BWZQ OEP
M6"72>I)J!+?DK#WK.T*DL2EVV91R6&ME@A C1\D2/6L0A3O8185[9('X<O3$
M*6]U'/X_D^#?U&):$:MT:,Q79.T]]J'/=!F1OT6SYAIE37*^%E>&SM7Z6<>$
M8[&KGM.R*@2A-A737^QXS/LV$)N AJ&EJ#!W@'MC7\OH8YC+Y Q.)C7AUO@[
MQHY"#LAM$T2N))LE5O&YE&*C*4K%&Y2AH ):!?"^RM^H*J"7TS0(,LRF4C>*
MGZL6"/UE1 ;/(LC,0#R,U&#22*G^LFDY*U"@(@0-:TXNT.9<KF^-*L_76X"S
M_)V7-%QNE(I%@2-E"S0:-ZD&HJPMNF<QP).Y2J A@H-7GX/.]+AHK2*FQ1<G
MLG&$&<;RT,+YI_RY XQZ(= ^9=\)I'/:OY[RX!1.=VPU>W%EK4X?.(@8F87[
MN?ID-9&P=#-5O2^O72X0LDX7@G^"X_ PA4I@IA46<1#DBW#]6(*576Z$P+5F
MO#[S_)#^-D3-NKXH$Y2B,K8G;'?"GAI'E;?P_-3A]ML*[NG#E0?KP"L77@FG
M7.T@0GV.',&X-PNZAK>QS_>SS.>B^H;D5 4;/HG0=VD<7::GXVW7^>ZZ\'PU
M 8>;I+AX:A;T8%>O.W)V1C%/C3<[PD;CVS4")7!$O@=B=(#NCMB'NFUDG5H)
M SI85-"X!]C$C-<Q HI!E-%C!C"0]:(<)=Y381<%Y3!& RDTAVMB"*HU!%WZ
MHC(\&QR->TN90/XS.KK2,@4C#MM(4;UGP <#K"7>:D(_6^M^V+F6C6/=6@M2
MP24Q]-DHU489#@E?$8R. !V33?_B/3K@DO\*Q>)EFQ7._"&GE8?5$'8%WC;7
M<E%I*5+^":/=YO0;'$-^8R%P^$T'MN2!R)R0'4<IG 6TIY7.^E+4'AY\]U7V
MMW(*8HOSJO=[/;,XQ10P8(VWDZRBP&]-DJ(]>=VAY#1:?W(47TX@289C!>1D
M>MTF^%(14[\07S,['>;E5*"U=!F(PLCW_82OH76-^;N!-SB8:J0N$LC5)PY;
M'GV"D Q!$(8<;3KT"G&RHV'13"X;:WKD,8?C9V 907B(K4@EZ2]*UC:7))=B
M5(:.A-"<.A^6,1U&S[/SI6F9I% B"..(-H1MZ).0EOTJ2MT7Q> Y4TJ,1PK>
MN (M4DOPH![Z 7OX*15K02ML0Y,8O+J^1!H,5S%":QS,R6IUA8'?%@U%\5;I
M5"HSQ]QF,2[S8\DX9>M2^"+(G6N1+WZM[Q@ +;M!KN""$@F?AU>-*B#.[_Y
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M_A[WKG67.M\K]!S="\06!N^W%PB;\Z7BB<\1A3_Q5A;3"@-?^"K- R?BE$A
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M5%@'S%!.EIEJK4..!^^T\_"VXP)BKINN1)SE7USPOW=JU?%SF%E.X52U+$(
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M!L,*D>-><4T!5D5NG,X4LD7F_5E^'*$P4O\>D77BUS'9<3P*++ IF^,U6TU
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M0VE4,^1E FCN,:6NJ>?HO0FZ@'/@DVKA.=FV-S(>;6G%\D"YYEPKD-O@S^.
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MFU$7WU4@^G21!\TG_[3VPWCTD>L+[6 _,#_X-9GU=R5V?C<!L6M2[3]@>9V
MUC<AWDV[CQU55IGQBW3^;I>35%TOROT-0%M<N1*4S;JB,K)T:[R7<6,U[^5W
MC,JZL<FC :[4YB%SIWOU?0R3IT<Q,YMG0,SNP$9Q2W2[_KT$BA'<([V;Z7U*
M5'TP4S57_/BG)J9P-:<L//4Y:T[=AJVW4PCK\"Z$];L+8?T>-L_.QCW(K:YU
MGW %I(*&T 54#:8(_A2\ 9)4QR_M(!)^]'@)(UGP+?RZ).X52;'Z&8['9O7_
MMW=MO6W;4/@]@/\#T:<$4-VE"9!=L &Y=&B'9BTV%T$?Y5I.M":2(=E+\^_'
M<^'A(4793M=EL=NG88U,4>3AX;E\YSOFPD>*-K(JK5M2(T7/(?R<R*_"NZQ4
MJ],$JS.FU=%QM-NKH@J0&@P":5U\#VL;NO73==,M2*NQ,H!:8MR/RT>QO-2=
MLCBSZ_'6>:<<5$5,.D&1O:$Y98,G;) 2T01VUR4S_IW*YFL#H]U^S%,>1D.3
MVF&R<B3<I,16E-,49,:3Y/&K[ P>9QCCXM79Z.7/3\!1?/*YTWI,_B+OPS0O
MKS$Q*%DV^9N$+*PDV.,"FP;K*/%G4RUNQH"N(HMO2M" T$ACS%EIK:HK_-_!
M#A(OU0CCDO >C;010-IME0/:?@RJXG7;-'B6EV[]MPW['S9L:<J(U*JX:YQJ
M(5M)[;:J) ,%P!7,#AE#UZJZ(J<J$8M&%G?6VI18W[:)0*R[&=RP$DRK?@ON
MKCOS$PK]K''@@6-JXL<"T8*!X"87L5,OB5\:EGQUC80MBP8>@6"<)$PAA@M[
M<@&HD<P_@64E&2V59U4HL>Y@E(=R;>N ZL&1?[@D;M/M79<GBSP)C[*LN5L4
M0Y%,A#;*2Q]'$?GBG!EF?5<ZA43"T)OR9;@RR^4T!4A,K9.#R:$-/UDT'..F
ME+=T@M9#_7?.X]$#N.%'_=6(WMMR245T+T2M]_I$I:<%2#%\K*ZH2[DB3J+6
M@' * !;I13M]H-!CREOB (5_CG3/$GP^@M'X2:XX494E4,[AUA!Y1]I,VE>,
M1<[)@^OBSTY>_)YY1"FA2Q&3YOQ&\G\$BMD2DY^(H>_H'/J^%(8$;T_S\XT+
MCE]JK(4A_'W%5%D$A8W:0\?;[OH"K+'O#FB9K+V@\^L:0[@.9HDVQD$?.R>,
M:'!(VS.@+P5R2ND!BJ)&:C)B:Q%???V>$2E//0@!1*ZZ9CS0CGO74^^'A5+)
M&62$4:=2:<8'Y=8_Y8JUP<ZXJ3]&C>77/66TB8G B7!A+CUW+FI"1S0 (76P
M5T@%=/]SVJVH29_6# 5"G>OD"0KUN'FK9"&_7W2FLSF \A89KZ=3H,VI [0^
M[=,7W:8MN(I.ZQF;I"DM)OU 4'=108$H+\V ?P. B?QO:_FBK'K3"*^1UO7T
MB(H,"$,/IL)E4PA:C//8)E_,KVH7Y6,N"$;3F\<&IG^P_7JD=FL/K*:?O.Q+
MVJX;M:MH_9T7@$UM@/RK\D2*(X(/O*N GA,J8'"Y-C*7D(R BS;1!":#G:*5
M.W?>+-IYUWB:Y7>1>!\,OW<-'C*0<%#29$& O==FH=7,K0&TO8072FWUPB6%
MSS/RH4.6EIY\0GQ3!9>4'C/53U8SJ@3+ P2B]^/^) P&V@K6!,M,V"*(Z:&$
M@?2JG&E"P/X>"HG[=M,2=O\F<W[P+7/^=6?.44,?>UVC\KI.10OJ]QSL'F@@
MQ9P6Q\1N9P_S1JIM_:E6\7A+H+P!-CZV'08[3&;9FOW#HWWX?OO?PY#0DNQW
M]QSU5L8@]K1H6*USE\EH[7"-3^L;:R8BL>"QU9^[C-[^]7AT>NS@U7O(9R1Y
MT;L9AU;=WMSPWHAMDB0J:!.02/F%:QXW-'\2W H+2C)N,*3L)@J.18N%#6N6
M!6^R52X\M6Z*(.Z0$,#Q4\7]@QV/?1\7UGS;,Y<-4):M2I*O[*K0O16P/5.1
MN^Y,'&X 3XRWRS&])!=>]>B3'\#"^X?=S\/>N[OX1M7ZE!UX$#MIX8*=> C>
MN6P.),_S_".XE"P"$VN67B)K(;52<%B&X&+??>YY3_HF;"V;;L@J=L(K:3>H
MB5VC8 3>W_+]/9\."^G3A9PGN$/9#%T[9T+@.JYX*PG@P3I+63<K5L.'!!RU
M1=L3)U96C#!R0_JCH #$\GDPNWQT:&17R<[SVQK GX.6.:YJWVX:EI?A)6VH
MPU&E7%9QBE%EG!6SO)F[(C7X9SFF]"H([]A))&Q61VDC0HG &MY(1YS:2IM*
M)[!.?@00F@K0Z):8_ -ZS"ISO]^3<-.@^F6]4Y=7%87].$DID%\E>78Y%ZZ_
M,']+1NS*TKP$M*K2Z:+*68M_X%MAOEP$4BJ=W^B,[:'<.C("'!,U!-0M416G
M^<OJN]8Z;/0'8O>APTOZ^]**25,A]<!U4BY"?CM\&D0/;[,(S(W%'!L.E^MY
MRSN).ZP@J*$CFD^ .[R= P@*P/B+$HF&LR!<P0U]<"%]9 _'I\)ZG2U?/Y."
MED62+/WBJHQBL7H*JLL:S6%"$;)H(FO=R'B3]_N9&@)'_!]34$^_Y?8@VN7<
MS\SS[_9_R)9;"Z8 =[0"/#E_@#9IZFK9K$%#- 64UXXX.:UCX"#5\%?V0ML5
M9HL!2NAK/(S7\L!@1S^!@0-DG1^:$R[QORWP17"=2F*)F7FE)BKJH5(&75/6
MH:!V[._$(4NL F!;9OAK]Y3WOKOA-)XFQCMICKAVX<2"=BY;<N3?6I&949T(
M]W2L/R.[;&8U;"DRWOMV)YBVZCF'=.F7S<JFO)L?ZD!O5<J+(:#HFT)LI ^*
MUV2&]^\U7N3BC>GP<7[;$@R9[DIMQT*8V&E4Q,]8+4K-$WN#T7:TC!/.83,)
ML=;QF#?4MX=3:W!-V;N&*DT<9RF/YFKT6_TQM?(LM4V1$7W373@_C&ZR?9A7
M7&GCICPT[^M%)V)X!P*NSE$R7DA72=\:RP?$=31N:-UA&5R]/UZ\&N$0:'I_
M!0<N>HN@Q=8(+1[^9-Z@F]/^:%[GUJ78CDCC0\7[>*D?=C^?G;PY>P\XP6<O
M1^>O?_D'4$L! A0#%     @ UH$%4;JT;?@^ P  D@P   X
M ( !     &\M,C R,# X,#4N>'-D4$L! A0#%     @ UH$%48?46&O]"@
MWX<  !(              ( !:@,  &\M,C R,# X,#5?;&%B+GAM;%!+ 0(4
M Q0    ( -:!!5%<YI5W5P<  #E9   2              "  9<.  !O+3(P
M,C P.# U7W!R92YX;6Q02P$"% ,4    " #6@051D%:R:)H3  !69@  $@
M            @ $>%@  =&TR,#(V-#DX+3)?.&LN:'1M4$L! A0#%     @
MUH$%40Q_,KP:'0  GAL! !4              ( !Z"D  '1M,C R-C0Y.&0R
M7V5X,2TQ+FAT;5!+ 0(4 Q0    ( -:!!5$AEWC,_H,  "[; @ 6
M      "  35'  !T;3(P,C8T.3AD,E]E>#DY+3$N:'1M4$L%!@     &  8
*@P$  &?+      $!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
