<SEC-DOCUMENT>0001104659-22-092594.txt : 20220818
<SEC-HEADER>0001104659-22-092594.hdr.sgml : 20220818
<ACCEPTANCE-DATETIME>20220818165612
ACCESSION NUMBER:		0001104659-22-092594
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		14
CONFORMED PERIOD OF REPORT:	20220815
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20220818
DATE AS OF CHANGE:		20220818

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AGREE REALTY CORP
		CENTRAL INDEX KEY:			0000917251
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				383148187
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12928
		FILM NUMBER:		221178012

	BUSINESS ADDRESS:	
		STREET 1:		70 E. LONG LAKE ROAD
		CITY:			BLOOMFIELD HILLS
		STATE:			MI
		ZIP:			48034
		BUSINESS PHONE:		8107374190

	MAIL ADDRESS:	
		STREET 1:		70 E. LONG LAKE ROAD
		CITY:			BLOOMFIELD HILLS
		STATE:			MI
		ZIP:			48034
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>tm2222192d10_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/2021q4" xmlns:ref="http://www.xbrl.org/2006/ref" xmlns:us-gaap="http://fasb.org/us-gaap/2021-01-31" xmlns:us-roles="http://fasb.org/us-roles/2021-01-31" xmlns:dtr-types="http://www.xbrl.org/dtr/type/2020-01-21" xmlns:country="http://xbrl.sec.gov/country/2021" xmlns:srt="http://fasb.org/srt/2021-01-31" xmlns:adc="http://agreerealty.com/20220815">
<head>
     <title></title>
<meta http-equiv="Content-Type" content="text/html" />
</head>
<!-- Field: Set; Name: xdx; ID: xdx_02A_US%2DGAAP%2D2021 -->
<!-- Field: Set; Name: xdx; ID: xdx_035_adc_agreerealty.com_20220815 -->
<!-- Field: Set; Name: xdx; ID: xdx_04A_20220815_20220815 -->
<!-- Field: Set; Name: xdx; ID: xdx_050_edei%2D%2DEntityCentralIndexKey_0000917251 -->
<!-- Field: Set; Name: xdx; ID: xdx_059_edei%2D%2DAmendmentFlag_false -->
<!-- Field: Set; Name: xdx; ID: xdx_072_SO_T%2D%2D\DeptFiles%2DiXBRL 8%2DK Covers Templates\+++%2DROOT%2DElement%2D+++\DocumentInformationLineItems.xdxs -->
<!-- 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="From2022-08-15to2022-08-15" name="dei:EntityCentralIndexKey">0000917251</ix:nonNumeric>
  <ix:nonNumeric contextRef="From2022-08-15to2022-08-15" format="ixt:booleanfalse" name="dei:AmendmentFlag">false</ix:nonNumeric>
  </ix:hidden>
 <ix:references>
  <link:schemaRef xlink:href="adc-20220815.xsd" xlink:type="simple" />
  </ix:references>
 <ix:resources>
    <xbrli:context id="From2022-08-15to2022-08-15">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000917251</xbrli:identifier>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2022-08-15</xbrli:startDate>
        <xbrli:endDate>2022-08-15</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2022-08-152022-08-15_us-gaap_CommonStockMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000917251</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">us-gaap:CommonStockMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2022-08-15</xbrli:startDate>
        <xbrli:endDate>2022-08-15</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:context id="From2022-08-152022-08-15_custom_DepositarySharesMember">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000917251</xbrli:identifier>
        <xbrli:segment>
          <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">adc:DepositarySharesMember</xbrldi:explicitMember>
        </xbrli:segment>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2022-08-15</xbrli:startDate>
        <xbrli:endDate>2022-08-15</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="text-align: center; margin-top: 0; margin-bottom: 0">&#160;</p>

<!-- Field: Rule-Page -->
<div style="text-align: center">
<div style="border-top: black 2pt solid; border-bottom: black 1pt solid; text-align: center; width: 100%; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page --><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>SECURITIES AND EXCHANGE COMMISSION</b></p>

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

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

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

<!-- Field: Rule-Page --><div style="margin: 3pt auto; width: 10%"><div style="border-top: Black 1pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page -->

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

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>FORM <span id="xdx_908_edei--DocumentType_c20220815__20220815_zlXMuZ4eWOS6"><ix:nonNumeric contextRef="From2022-08-15to2022-08-15" name="dei:DocumentType">8-K</ix:nonNumeric></span></b></p>

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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PURSUANT TO SECTION 13 OR 15(d) OF THE</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SECURITIES EXCHANGE ACT OF 1934</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-top: 0pt; margin-bottom: 0pt; text-align: center">Date of report (Date
of earliest event reported): August 18, 2022 (<span id="xdx_908_edei--DocumentPeriodEndDate_c20220815__20220815_zMlJUO34eIb3"><ix:nonNumeric contextRef="From2022-08-15to2022-08-15" format="ixt:datemonthdayyearen" name="dei:DocumentPeriodEndDate">August 15, 2022</ix:nonNumeric></span>)</p>

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

<p style="font: 14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-size: 14pt"><b><span id="xdx_909_edei--EntityRegistrantName_c20220815__20220815_z9DXwLfnKpFb"><ix:nonNumeric contextRef="From2022-08-15to2022-08-15" name="dei:EntityRegistrantName">AGREE REALTY CORPORATION</ix:nonNumeric></span></b></span></p>

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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b><span id="xdx_90B_edei--EntityIncorporationStateCountryCode_c20220815__20220815_z52iG2DT2Zh9"><ix:nonNumeric contextRef="From2022-08-15to2022-08-15" format="ixt-sec:stateprovnameen" name="dei:EntityIncorporationStateCountryCode">Maryland</ix:nonNumeric></span></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(State or other
jurisdiction of incorporation)</p>

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

<table cellspacing="0" cellpadding="0" style="font: 10pt/normal Times New Roman, Times, Serif; border-collapse: collapse; font-size-adjust: none; font-stretch: normal; width: 100%">
<tr style="vertical-align: top">
    <td style="text-align: center; width: 50%">
        <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b><span id="xdx_904_edei--EntityFileNumber_c20220815__20220815_zDtHrpMj2uye"><ix:nonNumeric contextRef="From2022-08-15to2022-08-15" name="dei:EntityFileNumber">1-12928</ix:nonNumeric></span></b></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Commission file number)</p></td>
    <td style="text-align: center; width: 50%">
        <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b><span id="xdx_905_edei--EntityTaxIdentificationNumber_c20220815__20220815_zHqdvB3Aqh5d"><ix:nonNumeric contextRef="From2022-08-15to2022-08-15" name="dei:EntityTaxIdentificationNumber">38-3148187</ix:nonNumeric></span></b></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(I.R.S. Employer Identification No.)</p></td></tr>
<tr style="vertical-align: top">
    <td style="text-align: center; font-size: 10pt">&#160;</td>
    <td style="text-align: center; font-size: 10pt">&#160;</td></tr>
<tr style="vertical-align: top">
    <td style="text-align: center">
        <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b><span id="xdx_90E_edei--EntityAddressAddressLine1_c20220815__20220815_zDt6dmEWpyLh"><ix:nonNumeric contextRef="From2022-08-15to2022-08-15" name="dei:EntityAddressAddressLine1">70 E. Long Lake Road</ix:nonNumeric></span></b></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b><span id="xdx_900_edei--EntityAddressCityOrTown_c20220815__20220815_zoinzfLNiMyj"><ix:nonNumeric contextRef="From2022-08-15to2022-08-15" name="dei:EntityAddressCityOrTown">Bloomfield Hills</ix:nonNumeric></span>, <span id="xdx_906_edei--EntityAddressStateOrProvince_c20220815__20220815_zK9VMAtrPI98"><ix:nonNumeric contextRef="From2022-08-15to2022-08-15" name="dei:EntityAddressStateOrProvince">MI</ix:nonNumeric></span></b></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Address of principal
        executive offices)</p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></p></td>
    <td style="text-align: center; vertical-align: bottom">
        <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><b><span id="xdx_90A_edei--EntityAddressPostalZipCode_c20220815__20220815_zzV4LvvHMel8"><ix:nonNumeric contextRef="From2022-08-15to2022-08-15" name="dei:EntityAddressPostalZipCode">48304</ix:nonNumeric></span></b></p>
        <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">(Zip code)</p></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-size: 10pt">(Registrant&#8217;s
telephone number, including area code)</span> <b>(<span id="xdx_904_edei--CityAreaCode_c20220815__20220815_zV0lEJJOuaE4" style="font-size: 10pt"><ix:nonNumeric contextRef="From2022-08-15to2022-08-15" name="dei:CityAreaCode">248</ix:nonNumeric></span></b><b>)
<span id="xdx_907_edei--LocalPhoneNumber_c20220815__20220815_zlM2CttGX4l8" style="font-size: 10pt"><ix:nonNumeric contextRef="From2022-08-15to2022-08-15" name="dei:LocalPhoneNumber">737-4190</ix:nonNumeric></span></b></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-size: 10pt"><span style="text-decoration: underline">Not
applicable </span></span></p>

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

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

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

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

<table cellspacing="0" cellpadding="0" style="font: 10pt/normal Times New Roman, Times, Serif; border-collapse: collapse; font-size-adjust: none; font-stretch: normal; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 0.25in; font-size: 10pt"><span style="font-family: Wingdings"><span id="xdx_903_edei--WrittenCommunications_c20220815__20220815_z5KsxIjlwome"><ix:nonNumeric contextRef="From2022-08-15to2022-08-15" format="ixt:booleanfalse" name="dei:WrittenCommunications">&#168;</ix:nonNumeric></span></span></td>
    <td style="text-align: justify; font-size: 10pt"><span style="font-size: 10pt">Written communications pursuant to Rule 425
under the Securities Act (17 CFR 230.425)</span></td></tr>
<tr style="vertical-align: top">
    <td style="font-size: 10pt"><span style="font-family: Wingdings"><span id="xdx_90F_edei--SolicitingMaterial_c20220815__20220815_zeGms95trB07"><ix:nonNumeric contextRef="From2022-08-15to2022-08-15" format="ixt:booleanfalse" name="dei:SolicitingMaterial">&#168;</ix:nonNumeric></span></span></td>
    <td style="text-align: justify; font-size: 10pt"><span style="font-size: 10pt">Soliciting material pursuant to Rule 14a-12
under the Exchange Act (17 CFR 240.14a-12)</span></td></tr>
<tr style="vertical-align: top">
    <td style="font-size: 10pt"><span style="font-family: Wingdings"><span id="xdx_900_edei--PreCommencementTenderOffer_c20220815__20220815_zinEEszjKhs5"><ix:nonNumeric contextRef="From2022-08-15to2022-08-15" format="ixt:booleanfalse" name="dei:PreCommencementTenderOffer">&#168;</ix:nonNumeric></span></span></td>
    <td style="text-align: justify; font-size: 10pt"><span style="font-size: 10pt">Pre-commencement communications pursuant to
Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</span></td></tr>
<tr style="vertical-align: top">
    <td style="font-size: 10pt"><span style="font-family: Wingdings"><span id="xdx_900_edei--PreCommencementIssuerTenderOffer_c20220815__20220815_zWWEuAPM3pU6"><ix:nonNumeric contextRef="From2022-08-15to2022-08-15" format="ixt:booleanfalse" name="dei:PreCommencementIssuerTenderOffer">&#168;</ix:nonNumeric></span></span></td>
    <td style="text-align: justify; font-size: 10pt"><span style="font-size: 10pt">Pre-commencement communications pursuant to
Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</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-top: 0pt; margin-bottom: 0pt; text-align: left"><span style="font-size: 10pt">Securities
registered pursuant to Section 12(b) of the Act:</span></p>

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

<table cellspacing="0" cellpadding="0" style="font: 10pt/normal Times New Roman, Times, Serif; border-collapse: collapse; font-size-adjust: none; font-stretch: normal; width: 100%">
<tr style="vertical-align: top">
    <td style="border-top: Black 1pt solid; border-left: Black 1pt solid; border-image: none; width: 48%; text-align: center"><span style="font-size: 10pt"><b>Title
    of each class</b></span></td>
    <td style="border-top: Black 1pt solid; border-left: Black 1pt solid; width: 18%; text-align: center"><span style="font-size: 10pt"><b>Trading
    <br />
    Symbol(s)</b></span></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; width: 34%; text-align: center"><span style="font-size: 10pt"><b>Name
    of each exchange on which registered</b></span></td></tr>
<tr style="vertical-align: top">
    <td style="border-top: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><span style="font-size: 10pt"><span id="xdx_90A_edei--Security12bTitle_c20220815__20220815__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zbzoTNMSSAVc" style="font-size: 10pt"><ix:nonNumeric contextRef="From2022-08-152022-08-15_us-gaap_CommonStockMember" name="dei:Security12bTitle">Common Stock, $.0001 par value</ix:nonNumeric></span></span></td>
    <td style="border-top: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><span style="font-size: 10pt"><span id="xdx_901_edei--TradingSymbol_c20220815__20220815__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zTiF6nplO601" style="font-size: 10pt"><ix:nonNumeric contextRef="From2022-08-152022-08-15_us-gaap_CommonStockMember" name="dei:TradingSymbol">ADC</ix:nonNumeric></span></span></td>
    <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><span style="font-size: 10pt"><span id="xdx_904_edei--SecurityExchangeName_c20220815__20220815__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_z4LAY8mnx0Q1" style="font-size: 10pt"><ix:nonNumeric contextRef="From2022-08-152022-08-15_us-gaap_CommonStockMember" format="ixt-sec:exchnameen" name="dei:SecurityExchangeName">New York Stock Exchange</ix:nonNumeric></span></span></td></tr>
<tr style="vertical-align: top">
    <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><span style="font-size: 10pt"><span id="xdx_904_edei--Security12bTitle_c20220815__20220815__us-gaap--StatementClassOfStockAxis__custom--DepositarySharesMember_zyzlRwfQwG2k" style="font-size: 10pt"><ix:nonNumeric contextRef="From2022-08-152022-08-15_custom_DepositarySharesMember" name="dei:Security12bTitle">Depositary Shares, each representing one-thousandth of a share of 4.25% Series A Cumulative Redeemable Preferred Stock, $0.0001 par value</ix:nonNumeric></span></span></td>
    <td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><span style="font-size: 10pt"><span id="xdx_905_edei--TradingSymbol_c20220815__20220815__us-gaap--StatementClassOfStockAxis__custom--DepositarySharesMember_z1W163V2R0Ol" style="font-size: 10pt"><ix:nonNumeric contextRef="From2022-08-152022-08-15_custom_DepositarySharesMember" name="dei:TradingSymbol">ADCPrA</ix:nonNumeric></span></span></td>
    <td style="border: Black 1pt solid; text-align: center"><span style="font-size: 10pt"><span id="xdx_90E_edei--SecurityExchangeName_c20220815__20220815__us-gaap--StatementClassOfStockAxis__custom--DepositarySharesMember_zrxLuQuSSZ17"><ix:nonNumeric contextRef="From2022-08-152022-08-15_custom_DepositarySharesMember" 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; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&#160;</p>

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

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

<p style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Emerging growth company <span style="font-family: Wingdings"><span id="xdx_904_edei--EntityEmergingGrowthCompany_c20220815__20220815_zQ1WcVf3orw2"><ix:nonNumeric contextRef="From2022-08-15to2022-08-15" 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; text-align: left; margin-top: 0pt; margin-bottom: 0pt">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 13(a) 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: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-size: 10pt">&#160;</span></p></div>
    <div style="break-before: page; 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>

<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="width: 96px; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Item 8.01.</b></span></td>
    <td style="font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Other Events.</b></span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">On August&#160;15, 2022, Agree Limited Partnership
(the &#8220;Issuer&#8221;), a Delaware limited partnership and subsidiary of Agree Realty Corporation, a Maryland corporation (the &#8220;Parent
Guarantor&#8221;), entered into an underwriting agreement (the &#8220;Underwriting Agreement&#8221;) with Citigroup Global Markets Inc.,
Wells Fargo Securities, LLC and PNC Capital Markets LLC, as representatives of the several underwriters listed on Schedule I attached
thereto, and the other guarantors named therein (together with the Parent Guarantor, the &#8220;Guarantors&#8221;), relating to the underwritten
public offering of $300,000,000 aggregate principal amount of the Issuer&#8217;s 4.800% Notes due 2032.</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; background-color: white">A copy of the Underwriting Agreement is filed
herewith as Exhibit&#160;1.1 to this Current Report on Form&#160;8-K and is hereby incorporated herein by reference. The summary of the
Underwriting Agreement set forth above is qualified in its entirety by reference to Exhibit&#160;1.1.</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 style="vertical-align: top">
    <td style="width: 96px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Item 9.01.</b></span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Financial Statements and Exhibits.</b></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">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;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 style="vertical-align: top">
    <td style="width: 10%"><span style="text-decoration: underline">Exhibit</span></td>
    <td style="width: 90%"><span style="text-decoration: underline">Description</span></td></tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td>&#160;</td></tr>
  <tr style="vertical-align: top">
    <td><a href="tm2222192d10_ex1-1.htm">1.1</a></td>
    <td><a href="tm2222192d10_ex1-1.htm">Underwriting Agreement, dated August&#160;15, 2022, by and among the Issuer, the Guarantors and Citigroup Global Markets Inc., Wells Fargo Securities, LLC and PNC Capital Markets LLC, as representatives of the several underwriters named therein. &#160;</a></td></tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td>&#160;</td></tr>
  <tr style="vertical-align: top">
    <td>104</td>
    <td>Cover Page&#160;Interactive Data File (embedded within the Inline XBRL document).</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: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 12pt; margin-bottom: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <div style="break-before: page; 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; text-align: center"><b>SIGNATURES</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: left; text-indent: 0.5in">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">&#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="text-align: justify">&#160;</td>
    <td colspan="3" style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>AGREE REALTY CORPORATION</b></span></td>
    </tr>
  <tr style="vertical-align: top">
    <td style="text-align: justify; width: 50%">&#160;</td>
    <td style="text-align: justify; width: 3%">&#160;</td>
    <td style="text-align: justify; width: 5%">&#160;</td>
    <td style="text-align: justify; width: 42%">&#160;</td>
    </tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</span></td>
    <td colspan="2" style="border-bottom: black 1pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Peter Coughenour </span></td>
    </tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td>&#160;</td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Peter Coughenour </span></td>
    </tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td>&#160;</td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Financial Officer and Secretary</span></td>
    </tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date: August&#160;18, 2022</p>

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

<!-- Field: Page; Sequence: 3; Options: Last -->
    <div style="border-bottom: Black 1pt solid; margin-top: 12pt; margin-bottom: 6pt"><p style="margin: 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 -->
<!-- eJxVjtFqAjEQRb9g/2HIs2iSIsi+2bWV0lVkldLX6I5t6CazTKKtn9S/bDZLKQ2BMNx75kSIiVjTo+2Q4fW+qeGAru9MRGjwjIz+hKlRPT2XkN4G32yIbHzM4y9YUWIwMfOpkscU5OrVBmxLUHomFzOtQKrybg67jSiGvCJ/ti36aE0HxrewY+rZYjR8GzcczBd5cresekEOlnxaN5Vj/A1aKg1buppP4o8AdV2JYpJPIdZMl37QXEIkBw8duuQKI/p381dOuVOusKdgB//+3TCGDbojcsqV1Em1lP/JH9vrWYQ= -->
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-1.1
<SEQUENCE>2
<FILENAME>tm2222192d10_ex1-1.htm
<DESCRIPTION>EXHIBIT 1.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="text-align: right; margin: 0pt"><B STYLE="font-style: normal; font-weight: normal">Exhibit&nbsp;1.1</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>AGREE
LIMITED PARTNERSHIP</B></FONT></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-align: center"><B>$300,000,000 4.800% Notes due 2032</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-align: center"><FONT STYLE="text-transform: uppercase"><B>UNDERWRITING
AGREEMENT</B></FONT></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-align: right">August&nbsp;15, 2022</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">Citigroup Global Markets Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">388 Greenwich Street</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, New York 10013</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">Wells Fargo Securities, LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">550 South Tryon Street, 5<SUP>th</SUP> Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Charlotte, North Carolina 28202</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">PNC Capital Markets LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">300 Fifth Avenue, 10<SUP>th</SUP> Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pittsburgh, Pennsylvania 15222</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">As Representatives of the several Underwriters named in <U>Schedule
I</U></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">Ladies and Gentlemen:</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-align: justify; text-indent: 0.5in">Agree Limited Partnership,
a Delaware limited partnership (the &ldquo;<B>Issuer</B>&rdquo;), Agree Realty Corporation, a Maryland corporation (the &ldquo;<B>Parent</B>&rdquo;),
and each subsidiary of the Parent listed on Schedule&nbsp;III hereto as being a Subsidiary Guarantor (such subsidiaries, collectively,
the &ldquo;<B>Subsidiary Guarantors</B>&rdquo; and together with the Parent, each a &ldquo;<B>Guarantor</B>&rdquo; and collectively the
 &ldquo;<B>Guarantors</B>&rdquo;), confirm their agreement with each of the Underwriters named in <U>Schedule&nbsp;I</U> hereto (collectively,
the &ldquo;<B>Underwriters</B>,&rdquo; which term shall also include any underwriter hereinafter substituted as provided in Section&nbsp;11
hereof), for whom Citigroup Global Markets Inc., Wells Fargo Securities, LLC and PNC Capital Markets LLC are acting as representatives
(in such capacity, if and as applicable, the &ldquo;<B>Representatives</B>&rdquo;) with respect to the sale by the Issuer and the purchase
by the Underwriters, acting severally and not jointly, of $300,000,000 aggregate principal amount of the Issuer&rsquo;s 4.800% Notes due
2032 (the &ldquo;<B>Notes</B>&rdquo;), each to be issued pursuant to an indenture, dated August&nbsp;17, 2020, as supplemented by an officer&rsquo;s
certificate to be dated August&nbsp;22, 2022 (as amended and supplemented, the &ldquo;<B>Indenture</B>&rdquo;), among the Issuer, the
Parent, in its capacity as a Guarantor, and U.S. Bank Trust Company, National Association as successor in interest to U.S. Bank National
Association, as trustee (the &ldquo;<B>Trustee</B>&rdquo;), and guaranteed by the Guarantors. The respective amount of the Notes to be
purchased by the several Underwriters is set forth opposite their names on <U>Schedule&nbsp;I</U> hereto.</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 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Registration
Statement and Prospectus</U>. The Issuer and the Parent have prepared and filed on May&nbsp;27, 2020 with the United States Securities
and Exchange Commission (the &ldquo;<B>Commission</B>&rdquo;) in accordance with the provisions of the Securities Act of 1933, as amended,
and the rules&nbsp;and regulations of the Commission thereunder (collectively, the &ldquo;<B>Act</B>&rdquo;), a shelf registration statement
on Form&nbsp;S-3 (File No.&nbsp;333-238729) under the Act (&ldquo;<B>Registration Statement 333-238729</B>&rdquo;), including a combined
prospectus contained therein (the &ldquo;<B>Basic Prospectus</B>&rdquo;), relating to the issuance and sale of certain debt securities
to be issued by the Issuer, including the Notes, and guarantees of debt securities of the Issuer by the Parent (the &ldquo;<B>Parent
Guarantee</B>&rdquo;), and the Issuer and the Guarantors have prepared and filed on August&nbsp;12, 2020, May&nbsp;5, 2021 and August&nbsp;15,
2022 with the Commission amendments to Registration Statement 333-238729 (the &ldquo;<B>Registration Statement Amendments</B>&rdquo;)
to register the guarantees of the Subsidiary Guarantors (the &ldquo;<B>Subsidiary Guarantees</B>&rdquo; and together with the Parent
Guarantee, the &ldquo;<B>Guarantees</B>&rdquo;). The Issuer has filed with, or transmitted for filing to, or shall promptly hereafter
file with or transmit for filing to, the Commission a supplement to the prospectus included in such registration statement (the &ldquo;<B>Prospectus
Supplement</B>&rdquo;) specifically relating to the Notes and the plan of distribution thereof pursuant to Rule&nbsp;424. Each of Registration
Statement 333-238729 and the Registration Statement Amendments was automatically effective upon filing pursuant to Rule&nbsp;462(e)&nbsp;under
the Act. Except where the context otherwise requires, Registration Statement 333-238729, on each date and time that such registration
statement and any post-effective amendment or amendments thereto, including without limitation, the Registration Statement Amendments,
became or becomes effective (each, an &ldquo;<B>Effective Date</B>&rdquo;), including all exhibits filed as part thereof or incorporated
by reference therein, and including any information contained in a Prospectus (as defined below) subsequently filed with the Commission
pursuant to Rule&nbsp;424(b)&nbsp;and deemed part of such amended registration statement by virtue of Rule&nbsp;430B (the &ldquo;<B>Rule&nbsp;430B
Information</B>&rdquo;), collectively, are herein called the &ldquo;<B>Registration Statement</B>,&rdquo; and the Basic Prospectus, as
supplemented by the final Prospectus Supplement, in the form first used by the Issuer in connection with confirmation of sales of the
Notes, is herein called the &ldquo;<B>Prospectus</B>&rdquo;; and the term &ldquo;<B>Preliminary Prospectus</B>&rdquo; means each preliminary
form of the Prospectus Supplement used in connection with the offering of the Notes that omitted Rule&nbsp;430B Information, including
the related Basic Prospectus in the form first filed by the Issuer and the Parent pursuant to Rule&nbsp;424(b). The Basic Prospectus
together with the Preliminary Prospectus, as amended or supplemented, immediately prior to the Applicable Time is hereafter called the
 &ldquo;<B>Pricing Prospectus</B>,&rdquo; and any &ldquo;issuer free writing prospectus&rdquo; (as defined in Rule&nbsp;433) relating
to the Notes is hereafter called an &ldquo;<B>Issuer Free Writing Prospectus</B>.&rdquo; The &ldquo;<B>Applicable Time</B>&rdquo; shall
mean 3:15 p.m.&nbsp;(Eastern Time) on August&nbsp;15, 2022 or such other time as agreed by the Issuer and the Representatives. The Pricing
Prospectus, as supplemented by the Issuer Free Writing Prospectuses, if any, listed in <U>Schedule&nbsp;II</U> hereto or that the parties
hereto shall hereafter expressly agree in writing to treat as part of the Disclosure Package is hereafter collectively called the &ldquo;<B>Disclosure
Package</B>.&rdquo; Any reference in this Agreement to the Registration Statement, the Disclosure Package, the Prospectus or any amendment
or supplement thereto shall be deemed to refer to and include the documents incorporated by reference therein pursuant to Item 12 of
Form&nbsp;S-3 under the Act (the &ldquo;<B>Incorporated Documents</B>&rdquo;), as of each Effective Date or the Applicable Time or the
date of the Prospectus, as the case may be (it being understood that the several specific references in this Agreement to documents incorporated
by reference in the Registration Statement, the Disclosure Package or the Prospectus are for clarifying purposes only and are not meant
to limit the inclusiveness of any other definition herein). For purposes of this Agreement, all references to the Registration Statement,
the Disclosure Package or the Prospectus or any amendment or supplement thereto shall be deemed to include the copy filed with the Commission
pursuant to its Electronic Data Gathering, Analysis and Retrieval system (<B>&ldquo;EDGAR&rdquo;</B>).</FONT></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: 2; Options: NewSection; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.5in">All references in this Agreement
to financial statements and schedules and other information which is &ldquo;contained,&rdquo; &ldquo;included,&rdquo; &ldquo;stated&rdquo;
or &ldquo;described&rdquo; in the Registration Statement, the Disclosure Package or the Prospectus (and all other references of like
import) shall be deemed to mean and include all such financial statements and schedules and other information which is or is deemed to
be incorporated by reference in the Registration Statement, the Disclosure Package or the Prospectus, as the case may be; and all references
in this Agreement to amendments or supplements to the Registration Statement, the Disclosure Package or the Prospectus shall be deemed
to include the filing after the Applicable Time of any document under the Securities Exchange Act of 1934, as amended, and the rules&nbsp;and
regulations of the Commission promulgated thereunder (collectively, the &ldquo;<B>Exchange Act</B>&rdquo;), which is or is deemed to
be incorporated by reference in the Registration Statement, the Disclosure Package or the Prospectus, as the case may be.</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-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Agreement
to Sell and Purchase</U>.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">On
the basis of the representations and warranties herein contained and subject to the terms and conditions herein set forth, the Issuer
agrees to issue and sell to each Underwriter, severally and not jointly, and each Underwriter agrees to purchase from the Issuer, at a
purchase price of 98.521% of the principal amount of the Notes, plus accrued interest, if any, from August&nbsp;22, 2022 to the Closing
Date, the respective principal amounts of Notes set forth opposite their respective names on <U>Schedule&nbsp;I</U> hereto.</FONT></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-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Offering
by Underwriters</U>. It is understood that the Underwriters propose to offer the Notes for sale to the public as soon after this Agreement
has become effective as in their judgment is advisable and initially to offer the Notes upon the terms set forth in the Prospectus.</FONT></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-align: justify; text-indent: 0.5in">The Underwriters represent
and agree that, unless they have or shall have obtained, as the case may be, the prior written consent of the Issuer, the Underwriters
have not made and will not make any offer relating to the Notes that would constitute an Issuer Free Writing Prospectus or that would
otherwise constitute a &ldquo;free writing prospectus&rdquo; as defined in Rule&nbsp;405, a &ldquo;<B>Free Writing Prospectus</B>&rdquo;)
required to be filed by the Issuer with the Commission or retained by the Issuer under Rule&nbsp;433; <I>provided</I> that the prior written
consent of the parties hereto shall be deemed to have been given in respect of any Free Writing Prospectuses listed in <U>Schedule&nbsp;II</U>
hereto and any electronic road show.</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-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Delivery
of the Notes and Payment Therefor</U>. Delivery of and payment for the Notes shall be made at 10:00 a.m., New York City time, on August&nbsp;22,
2022, or at such time on such later date not more than five (5)&nbsp;Business Days after the foregoing date as the Representatives shall
designate, which date and time may be postponed by mutual written agreement of the Representatives and the Issuer (such date and time
of delivery and payment for the Notes being herein called the &ldquo;<B>Closing Date</B>&rdquo;) (or at such other time on the same or
on such other date, in any event not later than the third Business Day thereafter, as the Representatives and the Issuer may agree in
writing). Delivery of the Notes shall be made against payment by the Underwriters of the purchase price thereof, to or upon the order
of the Issuer by wire transfer payable in immediately available funds to an account specified by the Issuer. The Notes will each be delivered
to the Representatives through the facilities of The Depository Trust Company (&ldquo;<B>DTC</B>&rdquo;). The Notes shall each be global
notes registered in the name of Cede&nbsp;&amp; Co., as nominee for DTC. The interests of beneficial owners of the Notes will be represented
by book entries on the records of DTC and participating members thereof. The number and denominations of definitive notes so delivered
shall be as specified by DTC. The definitive notes for the Notes will be made available for inspection by the Representatives at the
offices of Honigman LLP, not later than 5:00&nbsp;p.m., New York City time, on the Business Day before the Closing Date, or such other
date, time and place as the Representatives and the Issuer may agree.</FONT></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: 3; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Agreements
of the Issuer and the Guarantors</U>. The Issuer and the Guarantors, jointly and severally, agree with each Underwriter as follows:</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">If,
at the time this Agreement is executed and delivered, it is necessary for a post-effective amendment to the Registration Statement to
be declared effective before the offering of the Notes may commence, each of the Issuer and the Guarantors will use its best efforts to
cause such post-effective amendment to become effective as soon as possible and will advise the Representatives promptly and, if requested
by the Representatives, will confirm such advice in writing, immediately after such post-effective amendment has become effective.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">If,
at any time prior to the filing of the Prospectus pursuant to Rule&nbsp;424(b), any event occurs as a result of which the Disclosure Package
would (x)&nbsp;include any untrue statement of a material fact or omit to state any material fact necessary to make the statements therein
in the light of the circumstances under which they were made or the circumstances then prevailing, not misleading or (y)&nbsp;conflict
with the information contained in the Registration Statement, the Issuer and the Guarantors will (i)&nbsp;notify promptly the Representatives
so that any use of the Disclosure Package may cease until it is amended or supplemented; (ii)&nbsp;amend or supplement the Disclosure
Package to correct such statement, omission or conflicting information; and (iii)&nbsp;supply any amendment or supplement to the Representatives
in such quantities as may be reasonably requested.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
Issuer and the Guarantors will advise the Representatives promptly and, if requested by the Representatives, will confirm such advice
in writing: (i)&nbsp;of any review, issuance of comments or request by the Commission or its staff on or for an amendment of or a supplement
to the Registration Statement, any Preliminary Prospectus or the Prospectus or for additional information regarding the Issuer, the Guarantors,
their respective affiliates or any filings with the Commission, whether or not such filings are incorporated by reference into the Registration
Statement, any Preliminary Prospectus or the Prospectus; (ii)&nbsp;of the issuance by the Commission of any stop order suspending the
effectiveness of the Registration Statement or of the suspension of qualification of the Notes for offering or sale in any jurisdiction
or the initiation of any proceeding for such purpose or any examination pursuant to Section&nbsp;8(e)&nbsp;of the Act relating to the
Registration Statement or Section&nbsp;8A of the Act in connection with the offering of the Notes; (iii)&nbsp;of the receipt by the Issuer
or any Guarantor of any notification with respect to the suspension of the qualification of the Notes for sale in any jurisdiction or
the institution or threatening of any proceeding for such purpose; and (iv)&nbsp;within the period of time referred to in the first sentence
in subsection (f)&nbsp;below, of any change in the Issuer&rsquo;s or any Guarantor&rsquo;s condition (financial or other), business,
prospects, properties, net worth or results of operations, or of the happening of any event, which results in any statement of a material
fact made in the Registration Statement or the Prospectus (as then amended or supplemented) being untrue or which requires the making
of any additions to or changes in the Registration Statement or the Prospectus (as then amended or supplemented) in order to state a
material fact required by the Act to be stated therein or necessary in order to make the statements therein not misleading, or of the
necessity to amend or supplement the Prospectus (as then amended or supplemented) to comply with the Act or any other law. If at any
time the Commission shall issue any stop order suspending the effectiveness of the Registration Statement, the Issuer and the Guarantors
will make every reasonable effort to obtain the withdrawal of such order at the earliest possible time.</FONT></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: 4; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">On
request, the Issuer and the Guarantors will furnish to the Representatives and counsel to the Underwriters, without charge: (i)&nbsp;one
(1)&nbsp;signed copy of the Registration Statement as originally filed with the Commission and of each amendment thereto, including financial
statements and all exhibits to the Registration Statement; (ii)&nbsp;such number of conformed copies of the Registration Statement as
originally filed and of each amendment thereto, but without exhibits, as the Representatives may request; (iii)&nbsp;such number of copies
of the Incorporated Documents, without exhibits, as the Representatives may request; and (iv)&nbsp;one (1)&nbsp;copy of the exhibits to
the Incorporated Documents.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Neither
the Issuer nor any Guarantor will file any amendment to the Registration Statement or make any amendment or supplement to the Prospectus
or, prior to the end of the period of time referred to in the first sentence in subsection (f)&nbsp;below, file any document which upon
filing becomes an Incorporated Document, of which the Representatives shall not previously have been advised or to which, after the Representatives
shall have received a copy of the document proposed to be filed, the Representatives shall reasonably object; and no such further document,
when it is filed, will contain an untrue statement of a material fact or will omit to state a material fact required to be stated therein
or necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading. Each of
the Issuer and the Guarantors will give the Representatives notice of its intention to make any other filing pursuant to the Exchange
Act from the Applicable Time to the Closing Time and will furnish the Representatives with copies of any such documents a reasonable amount
of time prior to such proposed filing.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(f)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">After
the execution and delivery of this Agreement and thereafter from time to time for such period as in the opinion of counsel for the Underwriters
a prospectus is required by the Act to be delivered (or in lieu thereof, the notice referred to in Rule&nbsp;173(a)) in connection with
sales by the Underwriters or any dealer (including circumstances where such requirement may be satisfied pursuant to Rule&nbsp;172),
each of the Issuer and the Guarantors will file promptly all reports and any definitive proxy or information statements required to be
filed by the Issuer or the Guarantors with the Commission pursuant to Section&nbsp;13(a), 13(c), 14 or 15(d)&nbsp;of the Exchange Act
and will expeditiously deliver to the Underwriters and each dealer, without charge, as many copies of the Prospectus (and of any amendment
or supplement thereto), any Preliminary Prospectus and any Issuer Free Writing Prospectus as each Underwriter may request. Each of the
Issuer and the Guarantors consents to the use of the Prospectus (and of any amendment or supplement thereto) in accordance with the provisions
of the Act and with the securities or blue sky laws of the jurisdictions in which the Notes are offered by the Underwriters and by all
dealers to whom Notes may be sold, both in connection with the offering and sale of the Notes and for such period of time thereafter
as the Prospectus is required by the Act to be delivered (or in lieu thereof, the notice referred to in Rule&nbsp;173(a)) in connection
with sales by the Underwriters or any dealers. If during such period of time: (i)&nbsp;any event shall occur as a result of which, in
the judgment of the Issuer and the Guarantors, or in the opinion of counsel for the Underwriters, the Prospectus as supplemented would
include an untrue statement of a material fact or omit to state any material fact necessary to make the statements therein, in the light
of the circumstances when the Prospectus is delivered to a purchaser, not misleading; or (ii)&nbsp;if it is necessary to supplement the
Prospectus or amend the Registration Statement (or to file under the Exchange Act any document which, upon filing, would become an Incorporated
Document) in order to comply with the Act, the Exchange Act or any other law, the Issuer and the Guarantors will promptly notify the
Representatives of such event and forthwith prepare and, subject to the provisions of paragraph (e)&nbsp;above, file with the Commission
an appropriate supplement or amendment thereto (or to such document), and will expeditiously furnish to the Underwriters and dealers
a reasonable number of copies thereof. In the event that the Issuer and the Representatives agree that the Prospectus should be amended
or supplemented, the Issuer, if requested by the Representatives, will promptly issue a press release announcing or disclosing the matters
to be covered by the proposed amendment or supplement.</FONT></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; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(g)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Each
of the Issuer and the Guarantors will: (i)&nbsp;cooperate with the Underwriters and their counsel in connection with the registration
or qualification of the Notes for offering and sale by the Underwriters and by dealers under the securities or blue sky laws of such jurisdictions
as the Underwriters may designate; (ii)&nbsp;maintain such qualifications in effect so long as required for the distribution of the Notes;
and (iii)&nbsp;file such consents to service of process or other documents necessary or appropriate in order to effect such registration
or qualification; <I>provided</I> that in no event shall the Issuer or any Guarantor be obligated to qualify to do business in any jurisdiction
where it is not now so qualified or to take any action which would subject it to service of process in suits, other than those arising
out of the offering or sale of the Notes, in any jurisdiction where it is not now so subject.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(h)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Unless
the Issuer or the Guarantors have or shall have obtained the prior written consent of the Representatives, each of the Issuer and the
Guarantors has not made and will not make any offer relating to the Notes that would constitute an Issuer Free Writing Prospectus or that
would otherwise constitute a Free Writing Prospectus required to be filed by the Issuer or the Guarantors with the Commission or retained
by the Issuer or the Guarantors under Rule&nbsp;433; <U>provided</U> that the prior written consent of the parties hereto shall be deemed
to have been given in respect of the Free Writing Prospectuses listed in <U>Schedule&nbsp;II</U> hereto and any electronic road show.
Any such free writing prospectus consented to by the Representatives or the Issuer and the Guarantors is hereinafter referred to as a
 &ldquo;<B>Permitted Free Writing Prospectus</B>.&rdquo; Each of the Issuer and the Guarantors agrees that (x)&nbsp;it has treated and
will treat, as the case may be, each Permitted Free Writing Prospectus as an Issuer Free Writing Prospectus and (y)&nbsp;it has complied
and will comply, as the case may be, with the requirements of Rules&nbsp;164 and 433 applicable to any Permitted Free Writing Prospectus,
including in respect of timely filing with the Commission, legending and record keeping.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
Issuer and the Guarantors will make generally available to its security holders and to the Underwriters as soon as practicable, but in
no event later than fifteen (15) months after the end of the Parent&rsquo;s current fiscal quarter, a consolidated earnings statement
of the Parent, which need not be audited, covering a 12-month period, which consolidated earnings statement shall satisfy the provisions
of Section&nbsp;11(a)&nbsp;of the Act and Rule&nbsp;158.</FONT></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; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(j)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">During
the period commencing on the date hereof and ending on the date occurring three (3)&nbsp;years hereafter, the Issuer and the Guarantors
will furnish to the Underwriters: (i)&nbsp;as soon as available, if requested, a copy of each report of the Parent mailed to stockholders
or filed with the Commission that is not publicly available on EDGAR or the Parent&rsquo;s website; and (ii)&nbsp;from time to time such
other information concerning the Issuer or the Guarantors as the Representatives may reasonably request.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(k)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
Issuer and the Guarantors shall reimburse the Underwriters for accountable, reasonable out-of-pocket expenses (including the reasonable
fees and expenses of counsel for the Underwriters) actually incurred by the Underwriters in connection herewith if this Agreement is terminated
pursuant to any provisions hereof or if this Agreement is terminated by the Representatives because of any inability, failure or refusal
on the part of the Issuer or the Guarantors to comply with the terms or fulfill any of the conditions of this Agreement.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(l)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
Issuer will apply the net proceeds from the sale of the Notes in the manner specified in the Registration Statement, the Disclosure Package
and the Prospectus under the heading &ldquo;Use of Proceeds.&rdquo;</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(m)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">If
Rule&nbsp;430A, 430B or 430C is employed, the Issuer will timely file the Prospectus pursuant to Rule&nbsp;424(b)&nbsp;and will advise
the Representatives of the time and manner of such filing.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(n)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Neither
the Issuer nor any affiliate of the Issuer has taken, nor will the Issuer or any affiliate of the Issuer take, directly or indirectly,
any action designed to, or that might reasonably be expected to cause or result in, under the Exchange Act or otherwise, stabilization
or manipulation of the price of any security of the Issuer to facilitate the sale or resale of the Notes.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(o)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
Parent will use its best efforts to continue to qualify as a real estate investment trust (a &ldquo;<B>REIT</B>&rdquo;) under the Internal
Revenue Code of 1986, as amended, and the regulations and published interpretations thereunder (collectively, the &ldquo;<B>Code</B>&rdquo;),
so long as its Board of Directors deems it in the best interest of the Parent&rsquo;s stockholders to remain so qualified.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(p)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Each
of the Issuer and the Guarantors will use all reasonable best efforts to do or perform all things required to be done or performed by
the Issuer and the Guarantors prior to the Closing Date to satisfy all conditions precedent to the delivery of the Notes pursuant to this
Agreement.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(q)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Neither
the Issuer nor the Guarantors will, without the prior written consent of the Representatives, offer, sell, contract to sell, pledge or
otherwise dispose of or enter into any transaction that is designed to, or might reasonably be expected to, result in the disposition
(whether by actual disposition or effective economic disposition due to cash settlement or otherwise) by the Issuer or the Guarantors
or any affiliate of the Issuer or the Guarantors, directly or indirectly, or establish or increase a put equivalent position or liquidate
or decrease a call equivalent position (within the meaning of Section&nbsp;16 of the Exchange Act), on any debt securities or guarantees
thereon (other than the Notes and the Guarantees); or publicly announce an intention to effect any such transaction, until after the Closing
Date.</FONT></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; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(r)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Each
of the Issuer and the Guarantors will comply with all applicable securities and other applicable laws, rules&nbsp;and regulations, including,
without limitation, the Sarbanes-Oxley Act of 2002 (the &ldquo;<B>Sarbanes-Oxley Act</B>&rdquo;), and will use its reasonable best efforts
to cause its directors and officers, in their capacities as such, to comply with such laws, rules&nbsp;and regulations, including, without
limitation, the provisions of the Sarbanes-Oxley Act.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(s)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
Issuer and the Guarantors will file any Issuer Free Writing Prospectus to the extent required by Rule&nbsp;433 within the time period
required by such rule. The Issuer will retain, pursuant to reasonable procedures developed in good faith, copies of each Issuer Free Writing
Prospectus that is not filed with the Commission in accordance with Rule&nbsp;433(g).</FONT></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-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Representations
and Warranties of the Issuer and the Guarantors</U>. The Issuer and the Guarantors, jointly and severally, represent, warrant and covenant
to each Underwriter as follows:</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
Basic Prospectus and each Preliminary Prospectus, if any, included as part of the Registration Statement as originally filed or as part
of any amendment or supplement thereto, or filed pursuant to Rule&nbsp;424, complied when so filed in all material respects with the provisions
of the Act.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">No
order preventing or suspending the use of the Preliminary Prospectus has been issued by the Commission, and the Preliminary Prospectus
included in the Disclosure Package, at the time of filing thereof, complied in all material respects with the Act, and the Preliminary
Prospectus, as of its date and as of the date hereof, did not, does not and will not contain any untrue statement of a material fact or
omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were
made, not misleading. The representation and warranty contained in this Section&nbsp;6(b)&nbsp;does not apply to statements in or omissions
from the Preliminary Prospectus made in reliance upon and in conformity with the Underwriters Content (as defined below).</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">(i)&nbsp;At
the original effectiveness of the Registration Statement, (ii)&nbsp;at the time of the most recent amendment thereto for the purposes
of complying with Section&nbsp;10(a)(3)&nbsp;of the Act (whether such amendment was by post-effective amendment, incorporated report filed
pursuant to Section&nbsp;13 or 15(d)&nbsp;of the Exchange Act or form of prospectus), (iii)&nbsp;at the time the Issuer or any person
acting on its behalf (within the meaning, for this clause only, of Rule&nbsp;163(c)&nbsp;under the Act) made any offer relating to the
Notes in reliance on the exemption of Rule&nbsp;163 under the Act, and (iv)&nbsp;as of the Applicable Time, the Parent was and is a &ldquo;well-known
seasoned issuer&rdquo; (as defined in Rule&nbsp;405).</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
Registration Statement is an &ldquo;automatic shelf registration statement&rdquo; (as defined in Rule&nbsp;405) and the Notes and the
Guarantees have been and remain eligible for registration by the Issuer and the Guarantors on such automatic shelf registration statement.
The Registration Statement has become effective under the Act. No order suspending the effectiveness of the Registration Statement has
been issued by the Commission, and no proceeding for that purpose or pursuant to Section&nbsp;8A of the Act against the Issuer or any
Guarantor or related to the offering of the Notes has been initiated or, to the knowledge of the Issuer and the Guarantors, threatened
by the Commission; the Registration Statement, as of the date hereof, and any post-effective amendment thereto, as of its applicable
effective date, and at each deemed effective date with respect to the Underwriters pursuant to paragraph (f)(2)&nbsp;of Rule&nbsp;430B,
complied and will comply in all material respects with the Act, the Exchange Act and the Trust Indenture Act of 1939, as amended, and
the rules&nbsp;and regulations promulgated thereunder (collectively, the &ldquo;<B>Trust Indenture Act</B>&rdquo;), and did not and will
not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order
to make the statements therein not misleading. As of the date of the Prospectus and any amendment or supplement thereto and as of the
Closing Date, the Prospectus will not contain any untrue statement of a material fact or omit to state a material fact necessary in order
to make the statements therein, in the light of the circumstances under which they were made, not misleading. Neither the Issuer nor
any Guarantor has received from the Commission any notice objecting to the use of the shelf registration statement form. On the date
that the Registration Statement, any post-effective amendment or amendments thereto became or will become effective and on the Closing
Date, the Indenture did or will comply in all material respects with the applicable requirements of the Trust Indenture Act. The Indenture
has been qualified under the Trust Indenture Act. The representation and warranty contained in this Section&nbsp;6(d)&nbsp;does not apply
to (i)&nbsp;that part of the Registration Statement which shall constitute the Statement of Eligibility and Qualification (Form&nbsp;T-1)
under the Trust Indenture Act of the Trustee or (ii)&nbsp;statements in or omissions from the Registration Statement, the Disclosure
Package or the Prospectus made in reliance upon and in conformity with the Underwriters Content.</FONT></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: 8; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">(i)&nbsp;The
Disclosure Package, and (ii)&nbsp;each electronic road show, if any, when taken together as a whole with the Disclosure Package, did not
at the Applicable Time and will not on the Closing Date contain any untrue statement of a material fact or omit to state any material
fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading.
The preceding sentence does not apply to statements in or omissions from the Disclosure Package made in reliance upon and in conformity
with the Underwriters Content.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(f)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">(i)&nbsp;At
the earliest time after the filing of the Registration Statement that the Issuer or another offering participant made a <I>bona fide </I>offer
(within the meaning of Rule&nbsp;164(h)(2)) of the Notes and (ii)&nbsp;as of the Applicable Time (with such date being used as the determination
date for purposes of this clause (ii)), the Parent was not and is not an Ineligible Issuer (as defined in Rule&nbsp;405), without taking
account of any determination by the Commission pursuant to Rule&nbsp;405 that it is not necessary that the Parent be considered an Ineligible
Issuer.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(g)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Each
Issuer Free Writing Prospectus does not include any information that conflicts with the information contained in the Registration Statement,
including any Incorporated Document and any prospectus supplement deemed to be a part thereof that has not been superseded or modified.
The foregoing sentence does not apply to statements in or omissions from any Issuer Free Writing Prospectus based upon and in conformity
with the Underwriters Content.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(h)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
Incorporated Documents heretofore filed, when they were filed (or, if any amendment with respect to any such document was filed, when
such amendment was filed), conformed in all material respects with the requirements of the Exchange Act and the rules&nbsp;and regulations
of the Commission thereunder. No such document when it was filed (or, if an amendment with respect to any such document was filed, when
such amendment was filed), contained an untrue statement of a material fact or omitted to state a material fact required to be stated
therein or necessary in order to make the statements made therein, in light of the circumstances under which they were made, not misleading.</FONT></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: 9; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">(i)&nbsp;The
Notes have been duly and validly authorized and, when executed and authenticated by the Trustee in accordance with the provisions of the
Indenture and delivered to and paid for by the Underwriters in accordance with the terms of this Agreement on the Closing Date, will be
validly issued pursuant to the Indenture, will constitute valid and legally binding obligations of the Issuer enforceable in accordance
with their terms, except as the enforcement thereof may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar
laws relating to or affecting creditors&rsquo; rights generally or by general equitable principles, will be entitled to the benefits of
the Indenture and will conform in all material respects to the description thereof contained in the Registration Statement, the Disclosure
Package and the Prospectus; and (ii)&nbsp;each Guarantee has been duly and validly authorized and will on the Closing Date constitute
the valid and legally binding obligation of the applicable Guarantor enforceable in accordance with its terms, except as the enforcement
thereof may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws relating to or affecting creditors&rsquo;
rights generally or by general equitable principles, will be entitled to the benefits of the Indenture and will conform in all material
respects to the description thereof contained in the Registration Statement, the Disclosure Package and the Prospectus.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(j)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Except
as disclosed in the Registration Statement, the Disclosure Package and the Prospectus (or any amendment or supplement thereto), there
are no persons with registration or other similar rights to have any equity or debt securities, including securities which are convertible
into or exchangeable for equity securities, registered pursuant to the Registration Statement or otherwise registered by the Issuer under
the Act (other than those that have been waived).</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(k)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
Parent is a corporation and the Issuer is a limited partnership, each of which is duly organized, validly existing and in good standing
under the laws of the state of its formation, with full corporate or partnership power, as applicable, and authority to own, lease and
operate its properties and to conduct its business as described in the Registration Statement, the Disclosure Package and the Prospectus,
and each is duly registered and qualified to conduct its business, and is in good standing, in each jurisdiction or place where the nature
of its properties or the conduct of its business requires such registration or qualification, except where the failure to so register
or qualify would not reasonably be expected to have a material adverse effect on the condition (financial or other), prospects, earnings,
business, properties, net worth or results of operations of the Parent and its subsidiaries taken as a whole, whether or not arising from
transactions in the ordinary course of business (a &ldquo;<B>Material Adverse Effect</B>&rdquo;).</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(l)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Each
Subsidiary Guarantor and each of the other subsidiaries of the Parent (other than the Issuer) is a corporation, limited liability company,
limited partnership or trust, as applicable, duly organized, validly existing and in good standing under the laws of the state of its
formation, as set forth on <U>Schedule&nbsp;III</U> hereto, except where the failure to be in good standing would not result in a Material
Adverse Effect, with full corporate, limited liability company, partnership or trust power, as applicable, and authority to own, lease
and operate its properties and to conduct its business as described in the Registration Statement, the Disclosure Package and the Prospectus,
and each is duly registered and qualified to conduct its business, and is in good standing, in each jurisdiction or place where the nature
of its properties or the conduct of its business requires such registration or qualification, except where the failure to so register
or qualify or be in good standing would not reasonably be expected to have a Material Adverse Effect.</FONT></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: 10; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(m)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Neither
the Parent, nor the Issuer nor any of their subsidiaries does any business in Cuba.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(n)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Other
than as set forth on <U>Schedule&nbsp;III</U> hereto, neither the Issuer nor any Guarantor has any subsidiary or subsidiaries and does
not control, directly or indirectly, any corporation, partnership, joint venture, association or other business association. The issued
shares of capital stock of each of the Guarantor&rsquo;s subsidiaries (including the equity interests of the Issuer) have been duly authorized
and validly issued, are fully paid and nonassessable and are owned legally and beneficially by such Guarantor free and clear of any security
interests, liens, encumbrances, equities or claims, except as disclosed in the Registration Statement, the Disclosure Package, and the
Prospectus.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(o)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">There
are no legal or governmental actions, suits, inquiries, investigations or proceedings pending or, to the knowledge of the Issuer or any
Guarantor, threatened, against the Issuer, any Guarantor or any of their subsidiaries, or to which the Issuer, any Guarantor or any properties
of the Issuer, the Guarantors or any of their subsidiaries is subject, that (A)&nbsp;are required to be described in the Registration
Statement, the Disclosure Package or the Prospectus but are not described as required; (B)&nbsp;could reasonably be expected to have a
Material Adverse Effect on the performance of this Agreement or the consummation of any of the transactions contemplated hereby; or (C)&nbsp;could
reasonably be expected to have a Material Adverse Effect, except as set forth in or contemplated in the Registration Statement, the Disclosure
Package and the Prospectus (exclusive of any supplement thereto). There are no statutes, regulations, off-balance sheet transactions,
contingencies or agreements, contracts, indentures, leases or other instruments or documents of a character that are required to be described
in the Registration Statement or the Prospectus or to be filed or incorporated by reference as an exhibit to the Registration Statement
or any Incorporated Document that are not described, filed or incorporated as required by the Act or the Exchange Act (and the Pricing
Prospectus contains or incorporates by reference in all material respects the same description of the foregoing matters contained in the
Prospectus). The statements in the Registration Statement, the Disclosure Package, and the Prospectus under the heading &ldquo;Material
Federal Income Tax Considerations&rdquo; fairly summarize the matters therein described.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(p)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">None
of the Issuer, the Guarantors or any of their subsidiaries is: (A)&nbsp;in violation of (i)&nbsp;its respective articles of incorporation,
partnership agreement, operating agreement or by-laws (or analogous governing instruments), (ii)&nbsp;any law, ordinance, administrative
or governmental rule&nbsp;or regulation applicable to the Issuer, the Guarantors or any of their subsidiaries, except in the case of
clause (ii), which violation would not reasonably be expected to have a Material Adverse Effect, or (iii)&nbsp;any decree of any court
or governmental agency or body having jurisdiction over the Issuer, the Guarantors or their subsidiaries; or (B)&nbsp;except as disclosed
in the Registration Statement, the Disclosure Package and the Prospectus (or any amendment or supplement thereto), in default in any
material respect in the performance of any obligation, agreement, condition or covenant (financial or otherwise) contained in any bond,
debenture, note or any other evidence of indebtedness or in any Material Agreement (as defined below), indenture, lease or other instrument
to which the Issuer, the Guarantors or any of their subsidiaries is a party or by which the Issuer, Guarantors or any of their subsidiaries
or any of their respective properties may be bound, and, to the Issuer&rsquo;s and the Guarantor&rsquo;s knowledge, no such default is
expected. All agreements, contracts or other arrangements that are material to the Issuer and the Guarantors are set forth on <U>Schedule&nbsp;IV</U>&nbsp;of this Agreement (the &ldquo;<B>Material Agreements</B>&rdquo;).</FONT></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: 11; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(q)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">(A)&nbsp;As
of the date of this Agreement, the Parent and its respective subsidiaries have good and marketable title in fee simple to, all of the
real properties (the &ldquo;<B>Properties</B>&rdquo;) described in the Registration Statement, Disclosure Package and the Prospectus.
To the Issuer&rsquo;s and the Guarantors&rsquo; knowledge, none of the Issuer, the Guarantors or any of their subsidiaries is in violation
of any municipal, state or federal law, rule&nbsp;or regulation concerning any of their Properties, which violation would reasonably be
expected to have a Material Adverse Effect; (B)&nbsp;to the Issuer&rsquo;s and the Guarantors&rsquo; knowledge, each of the Properties
complies with all applicable zoning laws, ordinances and regulations in all material respects and, if and to the extent there is a failure
to comply, such failure does not materially impair the value of any of such Properties and will not result in a forfeiture or reversion
of title thereof; (C)&nbsp;none of the Issuer, the Guarantors or any of their subsidiaries has received from any governmental authority
any written notice of any condemnation of, or zoning change affecting any of, the Properties, and neither the Issuer nor any Guarantor
knows of any such condemnation or zoning change which is threatened and which, in each case, if consummated would reasonably be expected
to have a Material Adverse Effect; (D)&nbsp;the leases under which the Guarantors or any of their subsidiaries leases the Properties as
lessor (the &ldquo;<B>Leases</B>&rdquo;) are in full force and effect and have been entered into in the ordinary course of business of
such entity, except as would not reasonably be expected to have a Material Adverse Effect; (E)&nbsp;each Guarantor and each of their subsidiaries
has complied with its respective obligations under the Leases in all material respects and the Guarantors do not know of any default by
any other party to the Leases which, alone or together with other such defaults, would reasonably be expected to have a Material Adverse
Effect; and (F)&nbsp;all liens, charges, encumbrances, claims or restrictions on or affecting the assets (including the Properties) of
the Guarantors and their subsidiaries that are required to be disclosed in the Registration Statement, the Disclosure Package and the
Prospectus are disclosed therein.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(r)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Neither
the issuance and sale of the Notes, the execution, delivery or performance of this Agreement by the Issuer or the Guarantors, nor the
consummation by the Issuer or the Guarantors of the transactions contemplated hereby (including the application of the proceeds from
the sale of the Notes as described in the Registration Statement, the Disclosure Package and the Prospectus): (A)&nbsp;requires any consent,
approval, authorization or other order of, or registration or filing with, any court, regulatory body, administrative agency or other
governmental body, agency or official (except such as may be required for the registration of the Notes under the Act and compliance
with the securities or blue sky laws of various jurisdictions), or conflicts or will conflict with or constitutes or will constitute
a breach or violation of, or a default under, the articles of incorporation or by-laws (or analogous governing documents) of the Issuer,
the Guarantors or any of their subsidiaries; or (B)&nbsp;(i)&nbsp;conflicts or will conflict with or constitutes or will constitute a
breach of, or a default under, any agreement, indenture, lease or other instrument to which the Issuer, the Guarantors or any of their
subsidiaries is a party or by which the Issuer or any Guarantors or any properties of the Issuer or the Guarantors or any of their subsidiaries
may be bound, except as would not reasonably be expected to have a Material Adverse Effect, or (ii)&nbsp;violates or will violate any
statute, law, regulation or filing or judgment, injunction, order or decree applicable to the Issuer, any Guarantor or any of their subsidiaries
or any properties of the Issuer, the Guarantors or any of their subsidiaries, or (iii)&nbsp;will result in the creation or imposition
of any lien, charge or encumbrance upon any property or assets of the Issuer, the Guarantors or any of their subsidiaries pursuant to
the terms of any agreement or instrument to which the Issuer, any Guarantor or any of their subsidiaries is a party or by which the Issuer,
the Guarantors or any of their subsidiaries may be bound, or to which any property or assets of the Issuer, the Guarantors or any of
their subsidiaries is subject.</FONT></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: 12; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(s)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">To
the Issuer&rsquo;s and the Guarantors&rsquo; knowledge, Grant Thornton LLP, who has certified or shall certify the financial statements
and schedules included or incorporated by reference in the Registration Statement, the Disclosure Package and the Prospectus (or any amendment
or supplement thereto), is and was, as of the date of this Agreement and during the periods covered by the financial statements on which
Grant Thornton LLP reported, an independent registered public accounting firm with respect to the Parent as required by the Act and the
Exchange Act and the applicable published rules&nbsp;and regulations thereunder and by the Public Company Accounting Oversight Board (&ldquo;<B>PCAOB</B>&rdquo;).</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(t)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
historical financial statements, together with related schedules and notes, included or incorporated by reference in the Registration
Statement, the Disclosure Package and the Prospectus (and any amendment or supplement thereto), present fairly in all material respects
the financial position, results of operations and changes in financial position of the Parent and its subsidiaries on the basis stated
in the Registration Statement and the Incorporated Documents at the respective dates or for the respective periods to which they apply.
Such statements and related schedules and notes have been prepared in accordance with generally accepted accounting principles consistently
applied throughout the periods involved, except as disclosed therein. The other historical financial and statistical information and
data included or incorporated by reference in the Registration Statement, the Disclosure Package and the Prospectus (and any amendment
or supplement thereto) are accurately presented and prepared on a basis consistent with the audited financial statements, included or
incorporated in the Registration Statement, the Disclosure Package and the Prospectus, and the books and records of the Parent and its
subsidiaries. The financial statements of the businesses or properties acquired or proposed to be acquired, if any, included in, or incorporated
by reference into, the Registration Statement, the Disclosure Package or the Prospectus present fairly in all material respects the information
set forth therein, have been prepared in conformity with generally accepted accounting principles (&ldquo;<B>GAAP</B>&rdquo;) applied
on a consistent basis and otherwise have been prepared in accordance with the applicable financial statement requirements of Rule&nbsp;3-05
or Rule&nbsp;3-14 of Regulation S-X with respect to real estate operations acquired or to be acquired. Any pro forma financial statements
and other pro forma financial information included, or incorporated by reference in, the Registration Statement, Disclosure Package and
the Prospectus include assumptions that provide a reasonable basis for presenting the significant effects directly attributable to the
transactions and events described therein, the related pro forma adjustments give appropriate effect to those assumptions, and the pro
forma adjustments reflect the proper application of those adjustments to the historical financial statement amounts in the pro forma
financial statements included in the Registration Statement, the Disclosure Package and the Prospectus. Any pro forma financial statements
included in the Registration Statement, the Disclosure Package and the Prospectus comply as to form in all material respects with the
applicable accounting requirements of Regulation S-X under the Act. The Issuer and the Guarantors have filed with the Commission all
financial statements, together with related schedules and notes, required to be filed pursuant to Regulation S-X under the Act. Any disclosures
contained or incorporated in the Registration Statement, the Disclosure Package or the Prospectus regarding &ldquo;non-GAAP financial
measures&rdquo; (as such term is defined by the rules&nbsp;and regulations of the Commission) comply with Regulation G under the Exchange
Act and Item 10 of Regulation S-K of the Act, to the extent applicable. The interactive data in eXtensible Business Reporting Language
incorporated by reference in the Registration Statement, the Disclosure Package and the Prospectus fairly presents the information called
for in all material respects and has been prepared in accordance in all material respects with the Commission&rsquo;s rules&nbsp;and
guidelines applicable thereto.</FONT></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: 13; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(u)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">(i)&nbsp;The
Issuer has the partnership power to issue, sell and deliver the Notes as provided herein; the execution and delivery of, and the performance
by the Issuer of its obligations under, this Agreement have been duly and validly authorized by the Issuer, and this Agreement has been
duly executed and delivered by the Issuer and constitutes the valid and legally binding agreement of the Issuer, enforceable against the
Issuer in accordance with its terms, except as may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws
affecting creditors&rsquo; rights generally and by general principles of equity and to the extent that rights to indemnity and contribution
hereunder may be limited by federal or state securities laws; (ii)&nbsp;the Guarantors have the corporate or limited liability company
power, as applicable, to issue and deliver the Guarantees as provided herein; the execution and delivery of, and the performance by the
Guarantors of their respective obligations under, this Agreement have been duly and validly authorized by the respective Guarantors, and
this Agreement has been duly executed and delivered by the Guarantors and constitutes the valid and legally binding agreement of the Guarantors,
enforceable against the Guarantors in accordance with its terms, except as may be limited by bankruptcy, insolvency, reorganization, moratorium
or other similar laws affecting creditors&rsquo; rights generally and by general principles of equity and to the extent that rights to
indemnity and contribution hereunder may be limited by federal or state securities laws.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(v)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Except
as disclosed in the Registration Statement, the Disclosure Package and the Prospectus (or any amendment or supplement thereto), subsequent
to the respective dates as of which such information is given in the Registration Statement, the Disclosure Package and the Prospectus
(or any amendment or supplement thereto), (A)&nbsp;none of the Issuer, the Guarantors or any of their subsidiaries has incurred any liability
or obligation (financial or other), direct or contingent, or entered into any transaction (including any off-balance sheet activities
or transactions), not in the ordinary course of business, that is material to the Parent and its subsidiaries, as a whole; (B)&nbsp;there
has not been any material change in the capital stock, or partnership interests, as the case may be, or material increase in the short-term
debt or long-term debt (including any off-balance sheet activities or transactions), of any of the Issuer or the Guarantors or the occurrence
of or any development which may reasonably be expected to result in a Material Adverse Effect; and (C)&nbsp;except for regular quarterly
dividends on the Common Stock in amounts per share that are consistent with the past practice, there has been no dividend or distribution
of any kind declared, paid or made by the Parent on any class of its capital stock.</FONT></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: 14; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(w)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
Issuer, the Guarantors and each of their subsidiaries has good and marketable title to all property (real and personal) described in
the Registration Statement, the Disclosure Package and the Prospectus as being owned by each of them (including the Properties), free
and clear of all liens, claims, security interests or other encumbrances that would materially and adversely affect the value thereof
or materially interfere with the use made or presently contemplated to be made thereof by them as described in the Registration Statement,
the Disclosure Package and the Prospectus, except such as are described in the Registration Statement, the Disclosure Package and the
Prospectus, or in any document filed as an exhibit to the Registration Statement, and each property described in the Registration Statement,
the Disclosure Package and the Prospectus as being held under lease by the Issuer or the Guarantors or any of their subsidiaries is held
by such entity under a valid, subsisting and enforceable lease.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(x)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
 &ldquo;significant subsidiaries&rdquo; of the Parent as defined in Section&nbsp;1-02(w)&nbsp;of Regulation S-X of the Act are set forth
in <U>Schedule&nbsp;III</U> hereto (the &ldquo;<B>Significant Subsidiaries</B>&rdquo;).</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(y)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">None
of the Issuer or the Guarantors has distributed and, prior to the later to occur of (x)&nbsp;the Closing Date and (y)&nbsp;completion
of the distribution of the Notes, will distribute, any offering material in connection with the offering and sale of the Notes other than
the Registration Statement, the Disclosure Package or the Prospectus. None of the Issuer or the Guarantors has , directly or indirectly:
(i)&nbsp;taken any action designed to cause or to result in, or that has constituted or which might reasonably be expected to constitute,
the stabilization or manipulation of the price of any security of the Issuer to facilitate the sale or resale of the Notes; or (ii)&nbsp;since
the filing of the Registration Statement (A)&nbsp;sold, bid for, purchased, or paid anyone any compensation for soliciting purchases of,
the Notes or (B)&nbsp;paid or agreed to pay to any person any compensation for soliciting another to purchase any other securities of
the Issuer.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(z)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
Issuer, the Guarantors and each of their subsidiaries possess all certificates, permits, licenses, franchises and authorizations of governmental
or regulatory authorities (the &ldquo;<B>permits</B>&rdquo;) as are necessary to own their respective properties and to conduct their
respective businesses in the manner described in the Registration Statement, the Disclosure Package and the Prospectus, where such failure
to possess could have, individually or in the aggregate, a Material Adverse Effect, subject to such qualifications as may be set forth
in the Registration Statement, the Disclosure Package and the Prospectus. The Issuer, the Guarantors and each of their subsidiaries has
fulfilled and performed all of their respective material obligations with respect to such permits, and no event has occurred which allows,
or after notice or lapse of time would allow, revocation or termination thereof or which would result in any other material impairment
of the rights of the holder of any such permit, subject in each case to such qualification as may be set forth in the Registration Statement,
the Disclosure Package and the Prospectus.</FONT></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: 15; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(aa)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
Parent has established and maintains disclosure controls and procedures (as defined in Exchange Act Rules&nbsp;13a-15(e)&nbsp;and 15d-15(e))
that are designed to ensure that information required to be disclosed by the Parent in the reports that it files or submits under the
Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the Commission&rsquo;s rules&nbsp;and
forms and is accumulated and communicated to the Parent&rsquo;s management, including its chief executive officer and chief financial
officer, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure; and the Parent
maintains a system of internal control over financial reporting sufficient to provide reasonable assurance regarding the reliability
of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles and which includes policies and procedures that (i)&nbsp;pertain to the maintenance of records that in reasonable detail accurately
and fairly reflect the transactions and dispositions of the assets of the Parent, including its consolidated subsidiaries, (ii)&nbsp;provide
reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally
accepted accounting principles and that receipts and expenditures of the Issuer, the Guarantors and each of their subsidiaries are being
made only in accordance with the authorization of management, (iii)&nbsp;provide reasonable assurance regarding prevention or timely
detection of unauthorized acquisitions, use or dispositions of assets that could have a material effect on the financial statements,
and (iv)&nbsp;provide reasonable assurance that the interactive data in eXtensible Business Reporting Language included or incorporated
by reference in the Registration Statement, the Disclosure Package and the Prospectus fairly presents the information called for in all
material respects and is prepared in accordance with the Commission&rsquo;s rules&nbsp;and guidelines applicable thereto. The Parent&rsquo;s
disclosure controls and procedures have been evaluated for effectiveness as of the end of the period covered by the Parent&rsquo;s most
recently filed periodic report on Form&nbsp;10-Q or 10-K, as the case may be, which precedes the date of the Prospectus and were effective
in all material respects to perform the functions for which they were established. Based on the most recent evaluation of its internal
control over financial reporting, the Parent was not aware of (i)&nbsp;any material weaknesses in the design or operation of internal
control over financial reporting, except as disclosed in the Registration Statement, the Disclosure Package and the Prospectus, or (ii)&nbsp;any
fraud, whether or not material, that involves management or other employees who have a significant role in the Parent&rsquo;s internal
control over financial reporting. There has been no change in the Parent&rsquo;s internal control over financial reporting that has occurred
during its most recently completed fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Parent&rsquo;s
internal control over financial reporting, except as disclosed in the Registration Statement, the Disclosure Package and the Prospectus.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(bb)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">There
is and has been no failure on the part of the Parent or any of the Parent&rsquo;s directors or officers, in their capacities as such,
to comply with any provision of the Sarbanes-Oxley Act and the rules&nbsp;and regulations promulgated in connection therewith, including,
without limitation, Section&nbsp;402 related to loans to insiders and Sections 302 and 906 related to certifications.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(cc)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">To
the Issuer&rsquo;s and the Guarantors&rsquo; knowledge, none of the Issuer, the Guarantors or any of their subsidiaries nor any employee
or agent of the Issuer, any Guarantor or any of their subsidiaries has made any payment of funds of the Issuer or the Guarantors or any
of their subsidiaries or received or retained any funds in violation of any law, rule&nbsp;or regulation, which payment, receipt or retention
of funds is of a character required to be disclosed in the Registration Statement, the Disclosure Package or the Prospectus.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(dd)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">None
of the Issuer, the Guarantors or any of their subsidiaries nor, to the knowledge of the Issuer and the Guarantors, any director, officer,
agent, employee or affiliate of the Issuer, the Guarantors or any of their subsidiaries is aware of or has taken any action, directly
or indirectly, that would result in a violation by such persons of the Foreign Corrupt Practices Act of 1977, as amended, and the rules&nbsp;and
regulations thereunder (the &ldquo;<B>FCPA</B>&rdquo;), including, without limitation, making use of the mails or any means or instrumentality
of interstate commerce corruptly in furtherance of an offer, payment, promise to pay or authorization of the payment of any money, or
other property, gift, promise to give, or authorization of the giving of anything of value to any &ldquo;foreign official&rdquo; (as
such term is defined in the FCPA) or any foreign political party or official thereof or any candidate for foreign political office, in
contravention of the FCPA; and the Issuer, the Guarantors, their subsidiaries and, to the knowledge of the Issuer and the Guarantors,
their affiliates have conducted their businesses in compliance with the FCPA and have instituted and maintain policies and procedures
designed to ensure, and which are reasonably expected to continue to ensure, continued compliance therewith.</FONT></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: 16; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ee)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
operations of the Issuer, the Guarantors and their subsidiaries are and have been conducted at all times in compliance with applicable
financial recordkeeping and reporting requirements and the money laundering statutes and the rules&nbsp;and regulations thereunder and
any related or similar rules, regulations or guidelines, issued, administered or enforced by any governmental agency (collectively, the
 &ldquo;<B>Money Laundering Laws</B>&rdquo;) and no action, suit or proceeding by or before any court or governmental agency, authority
or body or any arbitrator involving the Issuer, the Guarantors or any of their subsidiaries with respect to the Money Laundering Laws
is pending or, to the knowledge of the Issuer or the Guarantors, threatened.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ff)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">None
of the Issuer, the Guarantors, or any of their subsidiaries or, to the knowledge of the Issuer or the Guarantors, any director, officer,
agent, employee, affiliate or&nbsp; representative of the Issuer, the Guarantors or any of their subsidiaries is an individual or entity
(&ldquo;<B>Person</B>&rdquo;) currently the subject or target of any&nbsp; sanctions administered or enforced by the United States Government,
including, without limitation, the U.S. Department of the Treasury&rsquo;s Office of Foreign Assets Control (&ldquo;<B>OFAC</B>&rdquo;),
the United Nations Security Council (&ldquo;<B>UNSC</B>&rdquo;), the European Union, Her Majesty&rsquo;s Treasury (&ldquo;<B>HMT</B>&rdquo;),
or other relevant sanctions authority (collectively, &ldquo;<B>Sanctions</B>&rdquo;), nor is the Issuer or any Guarantor located, organized
or resident in a country or territory that is the subject of Sanctions; and none of the Issuer and the Guarantors will directly or indirectly
use the proceeds from the sale of the Notes, or lend, contribute or otherwise make available such proceeds to any subsidiaries, joint
venture partners or other Person, to fund any activities of or business with any Person, or in any country or territory, that, at the
time of such funding, is the subject of&nbsp; Sanctions or in any other manner that will result in a violation by any Person (including
any Person participating in the transaction, whether as underwriter, advisor, investor or otherwise) of Sanctions.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(gg)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">No
labor problem or dispute with the employees of the Issuer or the Guarantors and/or any of their subsidiaries or, to the Issuer&rsquo;s
or Guarantors&rsquo; knowledge, any of the Issuer&rsquo;s or the Guarantors&rsquo; or their subsidiaries&rsquo; principal suppliers, contractors
or customers, exists, is threatened or imminent that could result in a Material Adverse Effect. To the Issuer&rsquo;s and the Guarantors&rsquo;
knowledge, no labor problem or dispute with the Issuer&rsquo;s or the Guarantors&rsquo; or their subsidiaries&rsquo; tenants exists, is
threatened or imminent that could result in a Material Adverse Effect.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(hh)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Each
of the Issuer, the Guarantors and their subsidiaries has timely filed all foreign, federal, state and local tax returns that are required
to be filed, which returns are complete and correct, or has requested extensions thereof (except in any case in which the failure to
so file timely would not reasonably be expected to have a Material Adverse Effect and except as set forth in the Registration Statement,
the Disclosure Package and the Prospectus) and has paid all material taxes required to be paid by it and any material other assessment,
fine or penalty levied against it, to the extent that any of the foregoing is due and payable, except for any such assessment, fine or
penalty that is currently being contested in good faith. The Parent has made appropriate provisions in the Parent&rsquo;s financial statements
that are incorporated by reference into the Registration Statement (or otherwise described in the Registration Statement, the Disclosure
Package and the Prospectus) in respect of all federal, state, local and foreign income and franchise taxes for all current or prior periods
as to which the tax liability of the Issuer, the Guarantors and their subsidiaries has not been finally determined, except to the extent
of any inadequacy that would not reasonably be expected to result in a Material Adverse Effect.</FONT></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: 17; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">No
holder of any security of the Issuer or any Guarantor has any right to require registration of the Notes or any other security of the
Issuer or any Guarantor because of the filing of the Registration Statement or consummation of the transactions contemplated by this Agreement,
which right has not been waived in connection with the transactions contemplated by this Agreement.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(jj)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
Issuer, the Guarantors and their subsidiaries own or possess all patents, trademarks, trademark registrations, service marks, service
mark registrations, trade names, copyrights, licenses, inventions, trade secrets and rights described in the Registration Statement, the
Disclosure Package and the Prospectus as being owned by them or necessary for the conduct of their respective businesses. Neither the
Issuer nor any of the Guarantors is aware of any claim to the contrary or any challenge by any other person to the rights of the Issuer,
the Guarantors and their subsidiaries with respect to the foregoing that would reasonably be expected to have a Material Adverse Effect.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(kk)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">None
of the Issuer, the Guarantors or any of their subsidiaries is now, and after sale of the Notes to be sold by the Issuer hereunder and
the application of the net proceeds from such sale as described in the Registration Statement, the Disclosure Package and the Prospectus
under the caption &ldquo;Use of Proceeds,&rdquo; will be, an &ldquo;investment company&rdquo; within the meaning of the Investment Company
Act of 1940, as amended.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ll)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">To
the Issuer&rsquo;s and the Guarantors&rsquo; knowledge, the Issuer, the Guarantors, their subsidiaries, the Properties and the operations
conducted thereon comply and heretofore have complied with all applicable Environmental Laws, and no expenditures are required to maintain
or achieve such compliance, except as disclosed in environmental site assessment reports obtained by the Issuer or the Guarantors on or
before the date hereof in connection with the purchase of any of the Properties or in a written summary maintained by the Issuer or the
Guarantors of the status of ongoing environmental projects at the Properties, each of which have been directly provided to the Underwriters
or their counsel (collectively, the &ldquo;<B>Environmental Reports</B>&rdquo;) and except for those circumstances that have not had or
would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect, or as disclosed in the Registration
Statement, the Disclosure Package and the Prospectus.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(mm)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">None
of the Issuer, the Guarantors or any of their subsidiaries has at any time and, to the Issuer&rsquo;s and the Guarantors&rsquo; knowledge,
no other party has at any time, handled, buried, stored, retained, refined, transported, processed, manufactured, generated, produced,
spilled, allowed to seep, leak, escape or leach, or be pumped, poured, emitted, emptied, discharged, injected, dumped, transferred or
otherwise disposed of or dealt with, Hazardous Materials (as defined below) on, to, under or from the Properties, except as disclosed
in Environmental Reports, the Registration Statement, the Disclosure Package and the Prospectus and except for those circumstances that
have not had or would not reasonably be expected to have a Material Adverse Effect. None of the Issuer, the Guarantors or any of their
subsidiaries intends to use the Properties or any subsequently acquired properties for the purpose of handling, burying, storing, retaining,
refining, transporting, processing, manufacturing, generating, producing, spilling, seeping, leaking, escaping, leaching, pumping, pouring,
emitting, emptying, discharging, injecting, dumping, transferring or otherwise disposing of or dealing with Hazardous Materials; <I>provided</I>,
<I>however</I>, the tenants of the Issuer and the Guarantors may use Properties for their intended purpose, which may involve the handling,
storing and transporting of Hazardous Materials.</FONT></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: 18; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->18<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 1in">To the Issuer&rsquo;s and the
Guarantors&rsquo; knowledge, no seepage, leak, escape, leach, discharge, injection, release, emission, spill, pumping, pouring, emptying
or dumping of Hazardous Materials into any surface water, groundwater, soil, air or other media on or adjacent to the Properties has occurred,
is occurring or is reasonably expected to occur, except as is disclosed in the Environmental Reports or the Registration Statement, the
Disclosure Package and the Prospectus, and except for those circumstances that would not reasonably be expected to have a Material Adverse
Effect.</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-align: justify; text-indent: 1in">None of the Issuer, the Guarantors
or any of their subsidiaries has received written notice from any Governmental Authority or other person of, or has knowledge of, any
occurrence or circumstance which, with notice, passage of time, or failure to act, would give rise to any claim against the Issuer, the
Guarantors or any of their subsidiaries under or pursuant to any Environmental Law or under common law pertaining to Hazardous Materials
on or originating from the existing Properties or any act or omission of any party with respect to the existing Properties, except as
disclosed in the Environmental Reports, or the Registration Statement, the Disclosure Package and the Prospectus and except for those
circumstances that would not reasonably be expected to have a Material Adverse Effect.</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-align: justify; text-indent: 1in">To the Issuer&rsquo;s and the
Guarantors&rsquo; knowledge, none of the Properties is included or proposed for inclusion on any federal, state, or local lists of sites
which require or might require environmental cleanup, including, but not limited to, the National Priorities List or CERCLIS List issued
pursuant to CERCLA (as defined below) by the United States Environmental Protection Agency or any analogous state list, except as is disclosed
in the Environmental Reports or the Registration Statement, the Disclosure Package and the Prospectus and except for those circumstances
that would not reasonably be expected to have a Material Adverse Effect.</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-align: justify; text-indent: 1in">In the ordinary course of its
business, the Parent periodically reviews the effect of Environmental Laws on the business, operations and properties of the Parent and
its subsidiaries, in the course of which it identifies and evaluates associated costs and liabilities (including, without limitation,
any capital or operating expenditures required for clean-up, closure of properties or compliance with Environmental Laws, or any permit,
license or approval, any related constraints on operating activities and any potential liabilities to third parties). On the basis of
such review, the Parent has reasonably concluded that such associated costs and liabilities would not, singly or in the aggregate, reasonably
be expected to have a Material Adverse Effect, whether or not arising from transactions in the ordinary course of business, except as
set forth in or contemplated in the Registration Statement, the Disclosure Package and the Prospectus.</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: 19; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->19<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 1in">As used herein, &ldquo;<B>Hazardous
Material</B>&rdquo; shall include, without limitation, any flammable explosives, radioactive materials, hazardous materials, hazardous
wastes, hazardous or toxic substances, or related materials, asbestos, polychlorinated biphenyls (&ldquo;<B>PCBs</B>&rdquo;), petroleum
products and by-products and substances defined or listed as &ldquo;hazardous substances,&rdquo; &ldquo;toxic substances,&rdquo; &ldquo;hazardous
waste,&rdquo; or &ldquo;hazardous materials&rdquo; in any Federal, state or local Environmental Law.</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-align: justify; text-indent: 1in">As used herein, &ldquo;<B>Environmental
Law</B>&rdquo; shall mean all laws, common law duties, regulations or ordinances (including any orders or agreements) of any Federal,
state or local governmental authority having or claiming jurisdiction over any of the Properties (a &ldquo;<B>Governmental Authority</B>&rdquo;)
that are designed or intended to protect the public health and the environment or to regulate the handling of Hazardous Materials, including,
without limitation, the Comprehensive Environmental Response, Compensation, and Liability Act of 1980, as amended (42 U.S.C. Section&nbsp;9601
et seq.) (&ldquo;<B>CERCLA</B>&rdquo;), the Hazardous Material Transportation Act, as amended (49 U.S.C. Section&nbsp;1801 et seq.), the
Resource Conservation and Recovery Act, as amended (42 U.S.C. Section&nbsp;6901 et seq.), the Federal Water Pollution Control Act, as
amended (33 U.S.C. Section&nbsp;1251 et seq.), and the Clean Air Act, as amended (42 U.S.C. Section&nbsp;7401 et seq.), and any and all
analogous state or local laws.</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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(nn)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Commencing
with its taxable year ended December&nbsp;31, 1994, the Parent has been organized and operated in conformity with the requirements for
qualification and taxation as a REIT under the Code, and the Parent&rsquo;s current and proposed method of operations as described in
the Registration Statement, the Disclosure Package and the Prospectus will enable it to continue to meet the requirements for qualification
and taxation as a REIT under the Code for its taxable year ending December&nbsp;31, 2022 and thereafter. No transaction or other event
has occurred, and none of the Issuer, the Guarantors, or any of their subsidiaries has taken any action, that would reasonably be expected
to cause the Parent not to be able to qualify as a REIT for its taxable year ending December&nbsp;31, 2022 or future taxable years. Each
of the Parent&rsquo;s direct or indirect subsidiaries that is treated as a corporation for U.S. federal income tax purposes will qualify
as a &ldquo;taxable REIT subsidiary&rdquo; within the meaning of Section&nbsp;856(l)&nbsp;of the Code. The Issuer will be treated as a
partnership and not as an association taxable as a corporation for U.S. federal income tax purposes.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(oo)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
Issuer, the Guarantors and each of their subsidiaries is insured by insurers of recognized financial responsibility against such losses
and risks and in such amounts as are prudent and customary in the businesses in which they are engaged and the value of their properties.
All policies of insurance and fidelity or surety bonds insuring the Issuer, the Guarantors or any of their subsidiaries or their respective
businesses, assets, employees, officers and directors are in full force and effect. The Issuer, the Guarantors and each of their subsidiaries
are in compliance with the terms of such policies and instruments in all material respects and there are no claims by the Issuer, the
Guarantors or any of their subsidiaries under any such policy or instrument as to which any insurance company is denying liability or
defending under a reservation of rights clause, except as would not reasonably be expected to have a Material Adverse Effect. None of
the Issuer, the Guarantors or any of their subsidiaries has been refused any insurance coverage sought or applied for, and the Issuer
does not have any reason to believe that the Issuer, the Guarantors and each of their subsidiaries will not be able to renew its respective
existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary
to continue their respective businesses at a cost that would not reasonably be expected to have a Material Adverse Effect.</FONT></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: 20; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->20<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(pp)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
Issuer, the Guarantors and their subsidiaries have title insurance on each of the Properties owned in fee simple in amounts at least equal
to the cost of acquisition of such property; with respect to an uninsured loss on any of the Properties, the title insurance shortfall
would not reasonably be expected to have a Material Adverse Effect.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(qq)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Except
as disclosed in the Registration Statement, the Disclosure Package and the Prospectus (or pursuant to the terms of the indebtedness described
therein), no subsidiary of the Issuer or any Guarantor is currently prohibited, directly or indirectly, from paying any dividends to the
Issuer or any Guarantor, from making any other distribution on such subsidiary&rsquo;s capital stock, from repaying to the Issuer or any
Guarantor any loans or advances to such subsidiary from the Issuer or any Guarantor, or, except for subsidiaries that are not Subsidiary
Guarantors and that own properties encumbered by mortgage debt as of the date hereof, from transferring any of such subsidiary&rsquo;s
assets or property to the Issuer or any Guarantor, or any other subsidiary of the Issuer or any Guarantor.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(rr)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">There
are no transfer taxes or other similar fees or charges under Federal law or the laws of any state, or any political subdivision thereof,
required to be paid in connection with the execution and delivery of this Agreement or the issuance or sale by the Issuer of the Notes.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ss)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Each
of the Issuer, the Guarantors and their subsidiaries has fulfilled its obligations, if any, under the minimum funding standards of Section&nbsp;302
of the United States Employee Retirement Income Security Act of 1974 (&ldquo;<B>ERISA</B>&rdquo;) and the regulations and published interpretations
thereunder with respect to each &ldquo;plan&rdquo; (as defined in Section&nbsp;3(3)&nbsp;of ERISA and such regulations and published interpretations)
in which employees of the Issuer, the Guarantors and their subsidiaries are eligible to participate. Each such plan is in compliance in
all material respects with the presently applicable provisions of ERISA and such regulations and published interpretations. None of the
Issuer, the Guarantors or any of their subsidiaries has incurred any unpaid liability to the Pension Benefit Guaranty Corporation (other
than for the payment of premiums in the ordinary course) or to any such plan under Title IV of ERISA.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(tt)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
Parent&rsquo;s authorized capitalization is as set forth in the Registration Statement, the Disclosure Package and the Prospectus.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(uu)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
Notes will rank on a parity with all unsecured indebtedness of the Issuer (other than subordinated indebtedness of the Issuer) that is
outstanding on the date hereof or that may be incurred hereafter, and senior to all subordinated indebtedness of the Issuer that is outstanding
on the date hereof or that may be incurred hereafter.</FONT></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: 21; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->21<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(vv)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
statistical and market related data included in the Registration Statement, the Disclosure Package, and the Prospectus are based on or
derived from sources the Issuer and the Guarantors believe to be reliable and accurate as of the respective dates of such documents,
and the Issuer and the Guarantors have obtained the written consent to the use of such data from such sources to the extent required.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ww)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Each
of the independent directors (or independent director nominees, once appointed, if applicable) named in the Registration Statement, the
Disclosure Package and Prospectus satisfies the independence standards established by NYSE and, with respect to members of the Issuer&rsquo;s
audit committee, the enhanced independence standards contained in Rule&nbsp;10A-3(b)(1)&nbsp;promulgated by the Commission under the Exchange
Act.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(xx)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">None
of the Issuer nor the Guarantors is required to register as a &ldquo;broker&rdquo; or &ldquo;dealer&rdquo; in accordance with the provisions
of the rules&nbsp;and the Exchange Act and does not, directly or indirectly through one or more intermediaries, control or have any other
association with (within the meaning of Article&nbsp;I of the Bylaws of the Financial Industry Regulatory Authority (&ldquo;<B>FINRA</B>&rdquo;))
any member firm of FINRA. No relationship, direct or indirect, exists between or among the Issuer or the Guarantors, on the one hand,
and the directors, officers or stockholders of the Issuer or the Guarantors, on the other hand, which is required by the rules&nbsp;of
FINRA to be described in the Registration Statement, the Disclosure Package and the Prospectus, which is not so described.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(yy)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Except
as disclosed in the Registration Statement, the Disclosure Package and the Prospectus, (i)&nbsp;none of the Issuer, the Guarantors or
any of their subsidiaries has any material lending or similar relationship with any Underwriter or any bank or other lending institution
affiliated with any Underwriter; and (ii)&nbsp;the Issuer does not intend to use any of the proceeds from the sale of the Notes by the
Issuer hereunder to reduce or retire the balance of any loan or credit facility extended by any affiliate of any Underwriter.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(zz)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">To
the Issuer&rsquo;s and the Guarantors&rsquo; knowledge, with such exceptions as would not, individually or in the aggregate, reasonably
be expected to have a Material Adverse Effect: there has been no security breach, incident, or other compromise of the Issuer&rsquo;s,
the Guarantors&rsquo; or any of their subsidiaries&rsquo; information computer systems, networks, and databases (including, without limitation,
the personal data and information of their respective customers, employees, suppliers and vendors and any third party data maintained,
processed or stored by the Issuer, the Guarantors and each of their subsidiaries, (collectively, &ldquo;<B>IT Systems and Data</B>&rdquo;);
neither the Issuer, the Guarantors nor any of their subsidiaries have been notified of, or have knowledge of any event or condition that
would reasonably be expected to result in, any security breach, incident or other compromise to their IT Systems and Data; the Issuer,
the Guarantors and each of their subsidiaries have implemented appropriate physical, technological and administrative controls designed
to maintain and protect the integrity, confidentiality and availability of their IT Systems and Data, taking into account the nature,
sensitivity and use of such IT Systems and Data, or as required by applicable regulatory standards in all respects; and the Issuer, the
Guarantors and each of their subsidiaries are presently in compliance with all applicable laws or statutes, applicable judgments, orders,
rules&nbsp;and regulations of any court or arbitrator or governmental or regulatory authority having jurisdiction over the Issuer, the
Guarantors or any of their subsidiaries and internal policies and contractual obligations relating to the privacy and security of IT
Systems and Data and the protection of such IT Systems and Data from unauthorized use, access, misappropriation or modification.</FONT></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: 22; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->22<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Indemnification
and Contribution</U>.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
Issuer and the Guarantors, jointly and severally, agree to indemnify and hold harmless the Underwriters, the directors, officers, employees,
affiliates and agents of each Underwriter and each person who controls the Underwriters, within the meaning of Section&nbsp;15 of the
Act or Section&nbsp;20 of the Exchange Act, against any and all losses, claims, damages or liabilities, joint or several, to which they
or any of them may become subject under the Act, the Exchange Act or other Federal or state statutory law or regulation, at common law
or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) (i)&nbsp;arise out of or are based
upon any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or in any amendment thereof
(including the Rule&nbsp;430B Information), or the omission or alleged omission therefrom of a material fact required to be stated therein
or necessary to make the statement therein not misleading; (ii)&nbsp;arise out of or are based upon any untrue statement or alleged untrue
statement of material fact included in any Preliminary Prospectus, the Disclosure Package or the Prospectus (or any amendment or supplement
thereof) or the omission or alleged omission therefrom of a material fact required to be stated therein or necessary to make the statements
therein, in the light of the circumstances under which they were made, not misleading; and (iii)&nbsp;arise out of or are based upon any
untrue statement or alleged untrue statement of a material fact contained in any Issuer Free Writing Prospectus or the omission or alleged
omission therefrom of a material fact necessary in order to make the statements therein, in the light of the circumstances under which
they were made, not misleading. The Issuer and the Guarantors, jointly and severally, agree to reimburse each such indemnified party,
as incurred, for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss,
claim, damage, liability or action; <U>provided</U>, <U>however</U>, that the Issuer and the Guarantors will not be liable in any such
case arising in connection with this Section&nbsp;7 to the extent that any such loss, claim, damage or liability arises out of or is based
upon any such untrue statement or alleged untrue statement or omission or alleged omission made therein in reliance upon and in conformity
with the Underwriters Content. This indemnity agreement will be in addition to any liability that the Issuer and the Guarantors may otherwise
have.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Each
Underwriter severally agrees to indemnify and hold harmless the Issuer and each of its directors, the Guarantors and each of the Issuer&rsquo;s
and the Guarantors&rsquo; officers who signs the Registration Statement, and each person who controls the Issuer or such Guarantor within
the meaning of Section&nbsp;15 of the Act or Section&nbsp;20 of the Exchange Act, to the same extent as the foregoing indemnity from the
Issuer and the Guarantors to the Underwriters, but only with reference to the Underwriters Content.</FONT></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: 23; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->23<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Promptly
after receipt by an indemnified party under this Section&nbsp;7 of notice of the commencement of any action, such indemnified party will,
if a claim in respect thereof is to be made against the indemnifying party under this Section&nbsp;7, notify the indemnifying party in
writing of the commencement thereof; but the failure so to notify the indemnifying party: (i)&nbsp;will not relieve it from liability
under paragraph (a)&nbsp;or (b)&nbsp;above unless and to the extent it did not otherwise learn of such action and such failure results
in the forfeiture by the indemnifying party of substantial rights and defenses; and (ii)&nbsp;will not, in any event, relieve the indemnifying
party from any obligations to any indemnified party other than the indemnification obligation provided in paragraph (a)&nbsp;or (b)&nbsp;above.
The indemnifying party shall be entitled to appoint counsel of the indemnifying party&rsquo;s choice at the indemnifying party&rsquo;s
expense to represent the indemnified party in any action for which indemnification is sought (in which case the indemnifying party shall
not thereafter be responsible for the fees and expenses of any separate counsel retained by the indemnified party or parties, except
as set forth below); <U>provided</U>, <U>however</U>, that such counsel shall be reasonably satisfactory to the indemnified party. Notwithstanding
the indemnifying party&rsquo;s election to appoint counsel to represent the indemnified party in an action, the indemnified party shall
have the right to employ separate counsel (including local counsel), and the indemnifying party shall bear the reasonable fees, costs
and expenses of such separate counsel if: (i)&nbsp;the use of counsel chosen by the indemnifying party to represent the indemnified party
would present such counsel with a conflict of interest; (ii)&nbsp;the actual or potential defendants in, or targets of, any such action
include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may
be legal defenses available to it and/or other indemnified parties which are different from or additional to those available to the indemnifying
party; (iii)&nbsp;the indemnifying party shall not have employed counsel reasonably satisfactory to the indemnified party to represent
the indemnified party within a reasonable time after notice of the institution of such action; or (iv)&nbsp;the indemnifying party shall
in writing authorize the indemnified party to employ separate counsel at the expense of the indemnifying party. In no event will the
indemnifying parties be liable for the fees, costs or expenses of more than one counsel (in addition to any local counsel) separate from
their own counsel for all indemnified parties in connection with any one action or separate but similar or related actions in the same
jurisdiction arising out of the same general allegations or circumstances. An indemnifying party will not, without the prior written
consent of the indemnified parties, settle or compromise, or consent to the entry of any judgment with respect to any pending or threatened
claim, action, suit or proceeding in respect of which indemnification or contribution may be sought hereunder (whether or not the indemnified
parties are actual or potential parties to such claim or action), unless such settlement, compromise or consent (x)&nbsp;includes an
unconditional release of each indemnified party from all liability arising out of such claim, action, suit or proceeding and (y)&nbsp;does
not include a statement as to, or an admission of, fault, culpability or a failure to act by or on behalf of any indemnified party.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">In
the event that the indemnity provided in paragraph (a)&nbsp;or (b)&nbsp;of this Section&nbsp;7 is unavailable to, or insufficient to
hold harmless, an indemnified party for any reason, the Issuer and the Guarantors, on the one hand, and the Underwriters, on the other,
agree to contribute to the aggregate losses, claims, damages and liabilities (including legal or other expenses reasonably incurred in
connection with investigating or defending the same) (collectively &ldquo;<B>Losses</B>&rdquo;) to which the Issuer, the Guarantors and
the Underwriters may be subject in such proportion as is appropriate to reflect the relative benefits received by the Issuer and the
Guarantors, on the one hand, and by the Underwriters, on the other, from the offering of the Notes; <U>provided</U>, <U>however</U>,
that in no case shall the Underwriters be responsible for any amount in excess of the underwriting discount or commission applicable
to the Notes purchased by the Underwriters hereunder. If the allocation provided by the immediately preceding sentence is unavailable
for any reason, the Issuer and the Guarantors and the Underwriters shall contribute in such proportion as is appropriate to reflect not
only such relative benefits but also the relative fault of the Issuer and the Guarantors, on the one hand, and of the Underwriters, on
the other, in connection with the statements or omissions which resulted in such Losses as well as any other relevant equitable considerations.
Benefits received by the Issuer and the Guarantors shall be deemed to be equal to the total net proceeds from the offering (before deducting
expenses) received by it, and benefits received by the Underwriters shall be deemed to be equal to the total underwriting discounts and
commissions, in each case as set forth on the cover page&nbsp;of the Prospectus. Relative fault shall be determined by reference to,
among other things: (i)&nbsp;whether any untrue or any alleged untrue statement of a material fact or the omission or alleged omission
to state a material fact relates to information provided by the Issuer or a Guarantor, on the one hand, or the Underwriters, on the other;
(ii)&nbsp;the intent of the parties and their relative knowledge; (iii)&nbsp;access to information; and (iv)&nbsp;the opportunity to
correct or prevent such untrue statement or omission. The Issuer, the Guarantors and the Underwriters agree that it would not be just
and equitable if contribution were determined by pro rata allocation or any other method of allocation which does not take account of
the equitable considerations referred to above. Notwithstanding the provisions of this paragraph (d), no person guilty of fraudulent
misrepresentation (within the meaning of Section&nbsp;11(f)&nbsp;of the Act) shall be entitled to contribution from any person who was
not guilty of such fraudulent misrepresentation. For purposes of this Section&nbsp;7, each person who controls an Underwriter within
the meaning of either the Act or the Exchange Act and each director, officer, employee and agent of an Underwriter shall have the same
rights to contribution as the Underwriters, and each person who controls the Issuer or a Guarantor within the meaning of either the Act
or the Exchange Act, each officer of the Issuer or a Guarantor who shall have signed the Registration Statement and each director of
the Issuer or a Guarantor shall have the same rights to contribution as the Issuer or such Guarantor, as applicable, subject in each
case to the applicable terms and conditions of this paragraph (d). The Underwriters&rsquo; respective obligations to contribute pursuant
to this Section&nbsp;7 are several in proportion to the number of Notes set forth opposite their respective names in <U>Schedule I</U>
hereto and not joint.</FONT></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: 24; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->24<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Conditions
of Underwriters&rsquo; Obligations</U>. The obligations of the Underwriters to purchase the Notes hereunder are subject to the following
conditions:</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">(i)&nbsp;The
Prospectus and any supplement thereto have been filed in the manner and within the time period required by Rule&nbsp;424(b)&nbsp;(without
reference to Rule&nbsp;424(b)(8)); and any material required to be filed by the Issuer or the Guarantors pursuant to Rule&nbsp;433(d)&nbsp;shall
have been filed with the Commission within the applicable time periods prescribed for such filings by Rule&nbsp;433 and (ii)&nbsp;any
request of the Commission for additional information (to be included in the Registration Statement, the Disclosure Package or the Prospectus
or otherwise) shall have been complied with to the reasonable satisfaction of the Representatives.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Subsequent
to the Applicable Time, or, if earlier, the dates as of which information is given in the Registration Statement (exclusive of any amendment
thereto), the Disclosure Package and the Prospectus (exclusive of any amendment thereof), there shall not have occurred any event or
development relating to or involving the Issuer and the Guarantors and their subsidiaries or any officer or director of the Issuer or
the Guarantors and their subsidiaries which makes any statement made in the Disclosure Package or the Prospectus untrue or which, in
the opinion of the Issuer and its counsel or the Representatives and counsel to the Underwriters, requires the making of any addition
to or change in the Disclosure Package in order to state a material fact required by the Act or any other law to be stated therein, or
necessary in order to make the statements therein not misleading, if amending or supplementing the Disclosure Package to reflect such
event or development would, in the opinion of the Representatives, adversely affect the market for the Notes.</FONT></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: 25; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->25<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
Representatives shall have received on the Closing Date an opinion and negative assurance letter of Honigman LLP, counsel for the Issuer
and the Guarantors, dated as of such date and addressed to the Representatives, in form and substance acceptable to the Representatives.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
Representatives shall have received on the Closing Date an opinion and negative assurance letter of Latham&nbsp;&amp; Watkins LLP, counsel
for the Underwriters, dated as of such date and addressed to the Representatives with respect to such matters as the Representatives may
request.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
Representatives shall have received on the Closing Date an opinion of Ballard Spahr LLP, Maryland counsel for the Parent, to the effect
set forth on <U>Exhibit&nbsp;A</U>, dated as of such date and addressed to the Representatives.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(f)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
Representatives shall have received letters addressed to the Underwriters and dated as of the date hereof and the Closing Date from Grant
Thornton LLP, an independent registered public accounting firm, substantially in the form heretofore approved by the Representatives;
<U>provided</U> that the letter delivered on the Closing Date shall use a &ldquo;cut-off&rdquo; date no more than three (3)&nbsp;Business
Days prior to the Closing Date.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(g)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">(i)&nbsp;No
stop order suspending the effectiveness of the Registration Statement shall have been issued and no proceedings for that purpose shall
have been taken or, to the knowledge of the Issuer or the Guarantors, shall be contemplated by the Commission at or prior to the Closing
Date; (ii)&nbsp;there shall not have been any change in the capital stock of the Issuer and the Guarantors nor any material increase in
the short-term or long-term debt (including any off-balance sheet activities or transactions) of the Issuer and the Guarantors and their
subsidiaries (other than in the ordinary course of business) from that set forth or contemplated in the Registration Statement, the Disclosure
Package or the Prospectus (or any amendment or supplement thereto); (iii)&nbsp;there shall not have been, since the respective dates as
of which information is given in the Registration Statement, the Disclosure Package and the Prospectus (or any amendment or supplement
thereto), except as may otherwise be stated in the Registration Statement, the Disclosure Package and Prospectus (or any amendment or
supplement thereto), any Material Adverse Effect; (iv)&nbsp;the Issuer and the Guarantors and their subsidiaries shall not have any liabilities
or obligations (financial or other), direct or contingent (whether or not in the ordinary course of business), that are material to the
Issuer or the Guarantors or their subsidiaries, other than those reflected in the Registration Statement or the Disclosure Package and
the Prospectus (or any amendment or supplement thereto); and (v)&nbsp;all the representations and warranties of the Issuer and the Guarantors
contained in this Agreement shall be true and correct at and as of the Applicable Time and on and as of the Closing Date, as if made at
and as of such time or on and as of such date, and the Representatives shall have received a certificate, dated the Closing Date, and
signed by either the chief executive officer or chief operating officer and the chief financial officer or similar officer of the Parent
on behalf of the Parent, the Issuer and each Subsidiary Guarantor (or such other officers as are acceptable to the Representatives), to
the effect set forth in this Section&nbsp;8(g)&nbsp;and in Section&nbsp;8(h)&nbsp;hereof.</FONT></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: 26; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->26<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(h)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
Issuer and the Parent shall not have failed at or prior to the Closing Date to have performed or complied with any of its agreements
herein contained and required to be performed or complied with by it hereunder, at or prior to the Closing Date.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
Representatives shall have received a certificate, dated the date hereof and the Closing Date, signed by the chief financial officer or
similar officer of the Parent on behalf of the Parent, the Issuer and each Subsidiary Guarantor, in form and substance reasonably satisfactory
to the Representatives, certifying to the accuracy of certain financial information contained in the Registration Statement, the Disclosure
Package and the Prospectus.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(j)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">Subsequent
to the Applicable Time, there shall not have been any decrease in the rating of any of the Issuer&rsquo;s or the Parent&rsquo;s debt securities
by any &ldquo;nationally recognized statistical rating organization&rdquo; (as defined in Section&nbsp;3(a)(62) of the Exchange Act) or
any notice given of any intended or potential decrease in any such rating or of a possible change in any such rating that does not indicate
the direction of the possible change.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(k)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">The
Issuer and the Guarantors shall have furnished or caused to be furnished to the Representatives such further certificates and documents
as the Representatives shall have reasonably requested.</FONT></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-align: justify; text-indent: 1in">Any certificate or document
signed by any officer of the Parent on behalf of the Issuer or any Guarantor and delivered to the Representatives, or to counsel for the
Underwriters, shall be deemed a representation and warranty by the Issuer or such Guarantor, as the case may be, to the Underwriters as
to the statements made therein.</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-align: justify; text-indent: 1in">If any of the conditions specified
in this Section&nbsp;8 shall not have been fulfilled in all material respects when and as provided in this Agreement, or if any of the
opinions and certificates mentioned above or elsewhere in this Agreement shall not be in all material respects reasonably satisfactory
in form and substance to the Underwriters and their counsel, this Agreement and all obligations of the Underwriters hereunder may be canceled
by the Representatives at, or at any time prior to, the Closing Date. Notice of such cancellation shall be given to the Issuer in writing
or by telephone or facsimile confirmed in writing.</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-align: justify; text-indent: 1in">With respect to the Closing
Date, the documents required to be delivered by this Section&nbsp;8 shall be delivered at the offices of Latham&nbsp;&amp; Watkins LLP,
Attention: Julian Kleindorfer, counsel for the Underwriters, at 355 South Grand Avenue, Suite&nbsp;100, Los Angeles, California 90071
on or prior to such date.</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: 27; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->27<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Expenses</U>.
The Issuer agrees to pay the following costs and expenses and all other costs and expenses incident to the performance by the Issuer
and the Guarantors of their obligations hereunder: (i)&nbsp;the preparation, printing or reproduction, and filing with the Commission
of the registration statement (including financial statements and exhibits thereto), each Preliminary Prospectus, if any, the Prospectus,
each Issuer Free Writing Prospectus and each amendment or supplement to any of them; (ii)&nbsp;the printing (or reproduction) and delivery
(including postage, air freight charges and charges for counting and packaging) of such copies of the Registration Statement, each Preliminary
Prospectus, the Prospectus, each Issuer Free Writing Prospectus, the Incorporated Documents, and all amendments or supplements to any
of them, as may be reasonably requested for use in connection with the offering and sale of the Notes; (iii)&nbsp;the preparation, printing,
authentication, issuance and delivery of certificates for the Notes, including any stamp or other taxes in connection with the original
issuance and sale of the Notes; (iv)&nbsp;the printing (or reproduction) and delivery of this Agreement, the preliminary and supplemental
blue sky memoranda and all other agreements or documents printed (or reproduced) and delivered in connection with the offering of the
Notes; (v)&nbsp;the registration or qualification of the Notes for offer and sale under the securities or blue sky laws of the several
states as provided in Section&nbsp;5(g)&nbsp;hereof (including the reasonable fees, expenses and disbursements of counsel for the Underwriters
relating to the preparation, printing or reproduction, and delivery of the preliminary and supplemental blue sky memoranda and such registration
and qualification (which fees and disbursements of counsel shall not exceed $10,000)); (vi)&nbsp;the filing fees and the fees and expenses
of counsel for the Underwriters in connection with any filings required to be made with the Financial Industry Regulatory Authority,&nbsp;Inc.
(which fees and disbursements of counsel shall not exceed $10,000); (vii)&nbsp;the transportation and other expenses incurred by or on
behalf of representatives of Issuer and the Guarantors in connection with presentations to prospective purchasers of the Notes; (viii)&nbsp;the
fees and expenses of the Issuer&rsquo;s and the Guarantors&rsquo; accountants and counsel (including local and special counsel) for the
Issuer and the Guarantors.</FONT></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-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Termination
of Agreement</U>. This Agreement shall be subject to termination in the absolute discretion of the Representatives, without liability
on the part of the Underwriters to the Issuer or the Guarantors, by notice to the Issuer, if, prior to the Closing Date: (i)&nbsp;there
shall have occurred any change, or any development involving a prospective change, in or affecting the condition (financial or otherwise),
earnings, business, prospects, properties, net worth, or results of operations of the Issuer or the Parent and their subsidiaries, whether
or not arising from transactions in the ordinary course of business, except as specifically addressed in the Registration Statement,
the Disclosure Package or the Prospectus (exclusive of any amendments or supplements thereto subsequent to the date of this Agreement),
the effect of which, in the sole judgment of the Representatives, is so material and adverse as to make it impractical or inadvisable
to proceed with the offering or delivery of the Notes as contemplated by the Registration Statement (exclusive of any amendments thereto),
the Disclosure Package and the Prospectus (exclusive of any supplement thereto); (ii)&nbsp;there shall have occurred any downgrading
in the rating of any debt securities or preferred stock of the Issuer or the Parent by any &ldquo;nationally recognized statistical rating
organization&rdquo; (as defined for purposes of Section&nbsp;3(a)(62) of the Exchange Act), or any public announcement that any such
organization has under surveillance or review its rating of any debt securities or preferred stock of the Issuer or the Parent (other
than an announcement with positive implications of a possible upgrading, and no implication of a possible downgrading, of such rating);
(iii)&nbsp;trading in the Parent&rsquo;s common stock or outstanding preferred stock shall have been suspended by the Commission or the
NYSE or trading in securities generally on the NYSE or the Nasdaq Stock Market shall have been suspended or materially limited; (iv)&nbsp;a
general moratorium on commercial banking activities in New York shall have been declared by either federal or state authorities; (v)&nbsp;the
Issuer or the Parent or any of their subsidiaries shall have sustained a substantial loss by fire, flood, accident or other calamity
which renders it impracticable, in the reasonable judgment of the Representatives, to consummate the sale of the Notes and the delivery
of the Notes by the Underwriters at the public offering price; or (vi)&nbsp;there shall have occurred any outbreak or escalation of hostilities
or other international or domestic calamity, crisis or change in political, financial or economic conditions, the effect of which on
the financial markets of the United States is such as to make it, in the sole judgment of the Representatives, impracticable or inadvisable
to commence or continue the offering as contemplated by the Registration Statement (exclusive of any amendments thereto), the Disclosure
Package and the Prospectus (exclusive of any supplement thereto). Notice of such termination may be given to the Issuer by electronic
transmission or by telephone and shall be subsequently confirmed by letter.</FONT></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: 28; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->28<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Default
by One or More of the Underwriters</U>. If one or more of the Underwriters shall fail at the Closing Date to purchase the Notes that it
or they are obligated to purchase under this Agreement (the &ldquo;<B>Defaulted Notes</B>&rdquo;), the Representatives shall have the
right, within 24 hours thereafter, to make arrangements for one or more of the non-defaulting Underwriters, or any other underwriters,
to purchase all, but not less than all, of the Defaulted Notes in such amounts as may be agreed upon and upon the terms herein set forth;
if, however, the Representatives shall not have completed such arrangements within such 24 hour period, then:</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">if
the aggregate principal amount of Defaulted Notes does not exceed 10% of the aggregate principal amount of Notes to be purchased on such
date, each of the non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full amount thereof in the
proportions that their respective underwriting obligations hereunder bear to the underwriting obligations of all non-defaulting Underwriters,
or</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">if
the aggregate principal amount of Defaulted Notes exceeds 10% of the aggregate principal amount of Notes to be purchased on such date,
this Agreement shall terminate without liability on the part of any non-defaulting Underwriter.</FONT></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-align: justify; text-indent: 0.5in">No action taken pursuant to
this Section&nbsp;11 shall relieve any defaulting Underwriter from liability in respect of its default.</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-align: justify; text-indent: 0.5in">In the event of any such default
which does not result in a termination of this Agreement, either (i)&nbsp;the Representatives or (ii)&nbsp;the Issuer shall have the right
to postpone the Closing Date for a period not exceeding seven days in order to effect any required changes in the Registration Statement
or Prospectus or in any other documents or arrangements. As used herein, the term &ldquo;Underwriter&rdquo; includes any person substituted
for an Underwriter under this Section&nbsp;11.</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-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Information
Furnished by the Underwriters</U>. The Issuer hereby acknowledges that the only information that the Underwriters have furnished to the
Issuer expressly for use in the Registration Statement, the Disclosure Package or the Prospectus are (a)&nbsp;the names of the Underwriters
appearing in the table immediately below the first paragraph, (b)&nbsp;the second and third sentences of the fourth paragraph, (c)&nbsp;the
second sentence of the fifth paragraph and (d)&nbsp;the first, second and third sentences of the sixth paragraph, in each case under the
heading &ldquo;Underwriting&rdquo; in such documents (collectively, the &ldquo;<B>Underwriters Content</B>&rdquo;).</FONT></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-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">13.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Representations
and Indemnities to Survive</U>. The respective agreements, representations, warranties, indemnities and other statements of the Issuer,
the Guarantors or any of their officers and of the Underwriters set forth in or made pursuant to this Agreement will remain in full force
and effect, regardless of any investigation made by or on behalf of the Underwriters or the Issuer, the Guarantors or any of the officers,
directors, employees, agents or controlling persons referred to in Section&nbsp;7 hereof, and will survive delivery of and payment for
the Notes. The provisions of Sections&nbsp;5(k), 7 and 9 hereof shall survive the termination or cancellation of this Agreement.</FONT></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: 29; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->29<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">14.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Absence
of Fiduciary Relationship</U>. Each of the Issuer and the Guarantors acknowledges and agrees that:</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">each
of the Underwriters has been retained solely to act as an underwriter in connection with the sale of the Notes and that no fiduciary,
advisory or agency relationship between the Issuer and the Guarantors and the Underwriters has been created in respect of any of the transactions
contemplated by this Agreement or the process leading thereto, irrespective of whether the Underwriters have advised or any of them is
advising the Issuer and the Guarantors on other matters;</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">the
price of the Notes set forth in this Agreement was established by the Issuer following discussions and arm&rsquo;s-length negotiations
with the Underwriters, and the Issuer is capable of evaluating and understanding and understands and accepts the terms, risks and conditions
of the transactions contemplated by this Agreement;</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">it
has been advised that the Underwriters and their affiliates are engaged in a broad range of transactions which may involve interests that
differ from those of the Issuer and the Guarantors and that no Underwriter has an obligation to disclose such interests and transactions
to the Issuer and the Guarantors by virtue of any fiduciary, advisory or agency relationship; and</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">it
waives, to the fullest extent permitted by law, any claims it may have against the Underwriters for breach of fiduciary duty or alleged
breach of fiduciary duty.</FONT></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-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">15.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Notices</U>.
All communications hereunder will be in writing and effective only on receipt, and, if sent to the Underwriters, will be mailed, delivered
or sent by electronic transmission to Citigroup Global Markets Inc., 388 Greenwich Street, New York, New York 10013, Facsimile: (646)
291-1469, Attention: General Counsel; Wells Fargo Securities, LLC, 550 South Tryon Street, 5th Floor, Charlotte, North Carolina 28202,
Attention: Transaction Management, Email: tmgcapitalmarkets@wellsfargo.com; PNC Capital Markets LLC, 300 Fifth Avenue, 10<SUP>th</SUP>
Floor, Pittsburgh, Pennsylvania 15222, Attention: Debt Capital Markets, Fixed Income Transaction Execution, Facsimile: (412) 762-2760;
or, if sent to the Issuer, will be mailed, delivered, telefaxed or sent by electronic transmission to the office of the Issuer at 70 E.
Long Lake Road, Bloomfield, Michigan 48304 (facsimile: 248-737-9110), Attention: Peter Coughenour, Email: peter@agreerealty.com.</FONT></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-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">16.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Recognition
of the U.S. Special Resolution Regimes</U>.</FONT></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-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">In
the event that any Underwriter that is a Covered Entity becomes subject to a proceeding under a U.S. Special Resolution Regime, the transfer
from such Underwriter of this Agreement, and any interest and obligation in or under this Agreement, will be effective to the same extent
as the transfer would be effective under the U.S. Special Resolution Regime if this Agreement, and any such interest and obligation, were
governed by the laws of the United States or a state of the United States.</FONT></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: 30; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->30<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">In
the event that any Underwriter that is a Covered Entity or a BHC Act Affiliate of such Underwriter becomes subject to a proceeding under
a U.S. Special Resolution Regime, Default Rights under this Agreement that may be exercised against such Underwriter are permitted to
be exercised to no greater extent than such Default Rights could be exercised under the U.S. Special Resolution Regime if this Agreement
were governed by the laws of the United States or a state of the United States.</FONT></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-align: justify; text-indent: 0.5in">For purposes of this Section&nbsp;16:
(A)&nbsp;a &ldquo;<B>BHC Act Affiliate</B>&rdquo; has the meaning assigned to the term &ldquo;affiliate&rdquo; in, and shall be interpreted
in accordance with, 12 U.S.C. &sect; 1841(k); (B)&nbsp;&ldquo;<B>Covered Entity</B>&rdquo; means any of the following: (i)&nbsp;a &ldquo;<B>covered
entity</B>&rdquo; as that term is defined in, and interpreted in accordance with, 12 C.F.R. &sect; 252.82(b); (ii)&nbsp;a &ldquo;<B>covered
bank</B>&rdquo; as that term is defined in, and interpreted in accordance with, 12 C.F.R. &sect; 47.3(b); or (iii)&nbsp;a &ldquo;<B>covered
FSI</B>&rdquo; as that term is defined in, and interpreted in accordance with, 12 C.F.R. &sect; 382.2(b); (C)&nbsp;&ldquo;Default Right&rdquo;
has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. &sect;&sect; 252.81, 47.2 or 382.1, as
applicable; and (D)&nbsp;&ldquo;U<B>.S. Special Resolution Regime</B>&rdquo; means each of (i)&nbsp;the Federal Deposit Insurance Act
and the regulations promulgated thereunder and (ii)&nbsp;Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act and
the regulations promulgated thereunder.</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-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">17.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Successors</U>.
This Agreement has been made solely for the benefit of the Underwriters, the Issuer, the Guarantors, their directors and officers, and
the other controlling persons referred to in Section&nbsp;7 hereof and their respective successors and assigns, to the extent provided
herein. This Agreement will inure to the benefit of and be binding upon the parties hereto and their respective successors and the officers
and directors and controlling persons referred to in Section&nbsp;7 hereof, and no other person shall acquire or have any right under
or by virtue of this Agreement. Neither the term &ldquo;successor&rdquo; nor the term &ldquo;successors and assigns&rdquo; as used in
this Agreement shall include a purchaser from the Underwriters of any of the Notes in his status as such purchaser.</FONT></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-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">18.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Integration</U>.
This Agreement supersedes all prior agreements and understandings (whether written or oral) between the Issuer, the Guarantors and the
Underwriters, or any of them, with respect to the subject matter hereof.</FONT></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-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">19.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Applicable
Law</U>. This Agreement will be governed by and construed in accordance with the laws of the State of New York.</FONT></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-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">20.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Waiver
of Jury Trial</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 Agreement or the transactions contemplated hereby.</FONT></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-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">21.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Counterparts</U>.
This Agreement 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. Counterparts may be delivered via facsimile, electronic mail (including any electronic
signature covered by the U.S. federal ESIGN Act of 2000, Uniform Electronic Transactions Act, the Electronic Signatures and Records Act
or other applicable law, e.g., <FONT STYLE="color: Black"><U>www.docusign.com</U></FONT>) or other transmission method and any counterpart
so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.</FONT></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: 31; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->31<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">22.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Headings</U>.
The section headings used herein are for convenience only and shall not affect the construction hereof.</FONT></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-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Research
Analyst Independence</U>. Each of the Issuer and the Guarantors acknowledges that the Underwriters&rsquo; research analysts and research
departments are required to be independent from their investment banking divisions and are subject to certain regulations and internal
policies, and that Underwriters&rsquo; research analysts may hold views and make statements or investment recommendations and/or publish
research reports with respect to the Issuer or any Guarantor and/or the offering that differ from the views of their respective investment
banking divisions. Each of the Issuer and the Guarantors hereby waives and releases, to the fullest extent permitted by law, any claims
that the Issuer or any Guarantor may have against the Underwriters with respect to any conflict of interest that may arise from the fact
that the views expressed by their research analysts and research departments may be different from or inconsistent with the views or advice
communicated to the Issuer or a Guarantor by Underwriters&rsquo; investment banking divisions. Each of the Issuer and the Guarantors acknowledges
that each Underwriter is a full service securities firm and as such from time to time, subject to applicable securities laws, may effect
transactions for its own account or the account of its customers and hold long or short positions in debt or equity securities of the
Issuer or any Guarantor and any other companies that may be the subject of the transactions contemplated by this Agreement.</FONT></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-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">24.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Duties</U>.
Nothing in this Agreement shall be deemed to create a partnership, joint venture or agency relationship between the parties. The parties
hereto undertake to perform such duties and obligations only as expressly set forth herein. Such duties and obligations of the parties
hereto with respect to the Notes shall be determined solely by the express provisions of this Agreement, and the parties hereto shall
not be liable except for the performance of such duties and obligations with respect to the Notes as are specifically set forth in this
Agreement. Each of the Issuer and the Guarantors acknowledges that the Underwriters disclaim any implied duties (including any fiduciary
duty), covenants or obligations arising from the Underwriters&rsquo; performance of their duties and obligations expressly set forth herein.</FONT></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-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">25.</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Definitions</U>.
The terms that follow, when used in this Agreement, shall have the meanings indicated:</FONT></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-align: justify; text-indent: 0.5in">&ldquo;<B>Business Day</B>&rdquo;
shall mean any day other than a Saturday, a Sunday or a legal holiday or a day on which banking institutions or trust companies are authorized
or obligated by law to close in New York City.</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-align: justify; text-indent: 0.5in">&ldquo;<B>Rule&nbsp;158</B>,&rdquo;
 &ldquo;<B>Rule&nbsp;164</B>,&rdquo; &ldquo;<B>Rule&nbsp;172</B>,&rdquo; &ldquo;<B>Rule&nbsp;173</B>,&rdquo; &ldquo;<B>Rule&nbsp;405</B>,&rdquo;
 &ldquo;<B>Rule&nbsp;415</B>,&rdquo; &ldquo;<B>Rule&nbsp;424</B>,&rdquo; &ldquo;<B>Rule&nbsp;430A</B>,&rdquo; &ldquo;<B>Rule&nbsp;430B</B>,&rdquo;
 &ldquo;<B>Rule&nbsp;430C</B>,&rdquo; &ldquo;<B>Rule&nbsp;433</B>&rdquo; and &ldquo;<B>Rule&nbsp;436</B>&rdquo; refer to such rules&nbsp;under
the Act.</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-align: center">[<I>Signature page&nbsp;follows.</I>]</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: 32; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->32<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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>

<!-- Field: Split-Segment; Name: 2 -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></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-align: justify; text-indent: 0.5in">If the foregoing is in accordance
with your understanding of our agreement, please sign and return to us this letter, whereupon this letter and your acceptance shall represent
a binding agreement among the Issuer, each Guarantor and the Underwriters.</P>

<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">Very truly yours,</P>

<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>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>AGREE LIMITED PARTNERSHIP</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By: AGREE REALTY CORPORATION, its General
    Partner</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By: </FONT></TD>
    <TD STYLE="width: 45%; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Joel N. Agree</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Joel N. Agree</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">President and Chief Executive Officer</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>AGREE REALTY CORPORATION</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Joel N.
    Agree</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Joel N. Agree</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">President and Chief Executive Officer</FONT></TD></TR>
  </TABLE>
<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; 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">[<I>Signature Page to the
Underwriting Agreement</I>]</P>

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

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt"></P></DIV>
    <DIV STYLE="break-before: page; 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>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>AGREE 117 MISSION, LLC</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>AGREE 2016, LLC</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>AGREE CENTRAL, LLC</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>AGREE CHAPEL HILL NC, LLC</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>AGREE COLUMBIA SC, LLC</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>AGREE CONVENIENCE NO. 1, LLC</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>AGREE CW, LLC</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>AGREE DT JACKSONVILLE NC, LLC</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>AGREE FARMINGTON NM, LLC</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>AGREE GRANDVIEW HEIGHTS OH, LLC</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>AGREE GREENWICH CT, LLC</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>AGREE LEBANON NH, LLC</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>AGREE MENA AR, LLC</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>AGREE MCW, LLC</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>AGREE ONAWAY MI, LLC</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>AGREE ORANGE CT, LLC</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>AGREE OXFORD COMMONS AL, LLC</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>AGREE PATERSON NJ, LLC</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>AGREE SB, LLC</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>AGREE SECAUCUS NJ, LLC</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>AGREE SHELF ES PA, LLC</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>AGREE SHELF PA, LLC</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>AGREE SOUTHFIELD, LLC</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>AGREE ST PETERSBURG, LLC</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>AGREE STORES, LLC</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>AGREE TK, LLC</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>MT. PLEASANT SHOPPING CENTER, L.L.C.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>PACHYDERM CHATTANOOGA TN, LLC</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>PACHYDERM MARIETTA GA, LLC</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>PACHYDERM MYRTLE BEACH SC, LLC</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>PACHYDERM PHILADELPHIA PA, LLC</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>PACHYDERM PROPERTIES, LLC</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>PACHYDERM RIVERDALE GA, LLC</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>PACHYDERM WAITE PARK MN, LLC</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>PAINT PA, LLC</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><B>LUNACORP, LLC</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><B>SAFARI PROPERTIES II, LLC</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By: AGREE LIMITED PARTNERSHIP, its Sole
    Member</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By: AGREE REALTY CORPORATION, its General
    Partner</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 45%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Joel N. Agree</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: </FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Joel N. Agree</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: </FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">President and Chief Executive Officer</FONT></TD></TR>
  </TABLE>
<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; 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">[<I>Signature Page to the
Underwriting Agreement</I>]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; 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="margin: 0pt"></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<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">Accepted and agreed to as of the date first above written:</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">For themselves and as Representatives of
    the several Underwriters named in <U>Schedule I</U> hereto.</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2"></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B>CITIGROUP
    GLOBAL MARKETS INC.</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 45%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Adam D. Bordner</FONT></TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: </FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Adam D. Bordner</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B>WELLS FARGO
    SECURITIES, LLC</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Carolyn
    Hurley</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: </FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Carolyn Hurley</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Managing Director</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B>PNC CAPITAL
    MARKETS LLC</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Valerie
    Shadeck</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: </FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Valerie Shadeck</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Managing Director</FONT></TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; 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">[<I>Signature Page to the
Underwriting Agreement</I>]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; 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="margin: 0pt"></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"></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"><FONT STYLE="text-transform: uppercase"><B><U>SCHEDULE&nbsp;I</U></B></FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif">Name of Underwriter</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Principal<BR>
    Amount of Notes<BR>
    to be Purchased</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 82%; text-align: left">Citigroup Global Markets Inc.</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 15%; font: 10pt Times New Roman, Times, Serif; text-align: right">54,000,000</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Wells Fargo Securities, LLC</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">54,000,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">PNC Capital Markets LLC</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">48,000,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">BofA Securities,&nbsp;Inc.</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">27,000,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">J.P. Morgan Securities LLC</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">27,000,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Stifel, Nicolaus&nbsp;&amp; Company,&nbsp;Incorporated</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">27,000,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Capital One Securities,&nbsp;Inc.</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">9,000,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Citizens Capital Markets,&nbsp;Inc.</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">9,000,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Mizuho Securities USA LLC</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">9,000,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Morgan Stanley&nbsp;&amp; Co. LLC</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">9,000,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Raymond James&nbsp;&amp; Associates,&nbsp;Inc.</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">9,000,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Regions Securities LLC</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">9,000,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">U.S. Bancorp Investments,&nbsp;Inc.</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">9,000,000</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">Total</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">300,000,000</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  </TABLE>



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

<!-- Field: Page; Sequence: 4; 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">Schedule I-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; 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: center"><FONT STYLE="text-transform: uppercase"><B><U>SCHEDULE
II</U></B></FONT></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-align: center"><FONT STYLE="text-transform: uppercase"><B>FREE
WRITING PROSPECTUSES INCLUDED IN THE DISCLOSURE PACKAGE</B></FONT></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 0pt 1in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">Final
Term Sheet, attached as Schedule II-A hereto</FONT></P>

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

<!-- Field: Page; Sequence: 5; Options: NewSection; Value: 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">Schedule II-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; 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"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B><U>SCHEDULE
II-A</U></B></FONT></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-align: right"><B>Issuer Free Writing Prospectus<BR>
Filed Pursuant to Rule&nbsp;433<BR>
Registration No.&nbsp;333-238729<BR>
Relating to Preliminary Prospectus Supplement<BR>
Dated August&nbsp;15, 2022 to Prospectus Dated May&nbsp;27, 2020</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-align: center"><B>Agree Limited Partnership</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-align: center"><B>$300,000,000 4.800% Notes due 2032 (the &ldquo;Notes&rdquo;)</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-align: center"><B>August&nbsp;15, 2022</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-align: center"><B>Pricing Term Sheet</B></P>

<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 STYLE="padding: 3pt 7pt; border: Black 1pt solid; width: 27%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Issuer:</FONT></TD>
    <TD STYLE="padding: 3pt 7pt; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; width: 73%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Agree
    Limited Partnership</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 3pt 7pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Guarantors:</FONT></TD>
    <TD STYLE="padding: 3pt 7pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Agree
    Realty Corporation, the sole general partner of Agree Limited Partnership, and certain of Agree Limited Partnership&rsquo;s existing
    and future subsidiaries</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 3pt 7pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Security
    Title:</FONT></TD>
    <TD STYLE="padding: 3pt 7pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.800%
    Notes due 2032</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 3pt 7pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Expected
    Ratings (Moody&rsquo;s / S&amp;P)*:</FONT></TD>
    <TD STYLE="padding: 3pt 7pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Baa1
    (Stable) / BBB (Stable)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 3pt 7pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Aggregate
    Principal Amount:</FONT></TD>
    <TD STYLE="padding: 3pt 7pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$300,000,000</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 3pt 7pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stated
    Maturity Date:</FONT></TD>
    <TD STYLE="padding: 3pt 7pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">October&nbsp;1,
    2032</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 3pt 7pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Public
    Offering Price:</FONT></TD>
    <TD STYLE="padding: 3pt 7pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.171%
    of the principal amount of the Notes</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 3pt 7pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Coupon
    (Interest Rate):</FONT></TD>
    <TD STYLE="padding: 3pt 7pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.800%
    per annum</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 3pt 7pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Yield
    to Maturity:</FONT></TD>
    <TD STYLE="padding: 3pt 7pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.904%</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 3pt 7pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Benchmark
    Treasury:</FONT></TD>
    <TD STYLE="padding: 3pt 7pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">UST
    2.750% due August&nbsp;15, 2032</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 3pt 7pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Benchmark
    Treasury Price and Yield:</FONT></TD>
    <TD STYLE="padding: 3pt 7pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99-24
    / 2.779%</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 3pt 7pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Spread
    to Benchmark Treasury:</FONT></TD>
    <TD STYLE="padding: 3pt 7pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">+212.5
    basis points</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 3pt 7pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Interest
    Payment Dates:</FONT></TD>
    <TD STYLE="padding: 3pt 7pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">April&nbsp;1
    and October&nbsp;1 of each year, beginning on April&nbsp;1, 2023</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 3pt 7pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Optional
    Redemption:</FONT></TD>
    <TD STYLE="padding: 3pt 7pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-indent: -13.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&#8239;&#8239;&#8239;&#8239;</FONT>&#8239;Prior
                                            to July&nbsp;1, 2032 (three months prior to the Stated Maturity Date of the Notes), &ldquo;make-whole&rdquo;
                                            call at T+35 basis points (calculated as though the actual Stated Maturity Date of the Notes
                                            was July&nbsp;1, 2032)</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3in; text-indent: -13.5pt">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-indent: -13.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>On
or after July&nbsp;1, 2032 (three months prior to the Stated Maturity Date of the Notes), par call</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 3pt 7pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CUSIP
    / ISIN:</FONT></TD>
    <TD STYLE="padding: 3pt 7pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-indent: 4.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">008513
    AD5 / US008513AD57</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 3pt 7pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Trade
    Date:</FONT></TD>
    <TD STYLE="padding: 3pt 7pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">August&nbsp;15,
    2022</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 3pt 7pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Settlement
    Date:</FONT></TD>
    <TD STYLE="padding: 3pt 7pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">August&nbsp;22,
    2022 (T+5); under Rule&nbsp;15c6-1 under the Securities Exchange Act of 1934, as amended trades in the secondary market generally
    are required to settle in two business days, unless the parties to that trade expressly agree otherwise.&nbsp;&nbsp;Accordingly,
    purchasers who wish to trade the Notes before the fourth business day prior to the Settlement Date will be required, by virtue of
    the fact that the Notes initially will settle on a delayed basis, to specify an alternate settlement cycle at the time of any such
    trade to prevent a failed settlement, and should consult their own advisors with respect to these matters.</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 6; Options: NewSection; Value: 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">Schedule II-A-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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 STYLE="border: Black 1pt solid; padding: 3pt 7pt; width: 27%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Joint
    Book-Running Managers:</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; padding: 3pt 7pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; width: 73%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3pt">Citigroup Global Markets Inc.<BR>
    Wells Fargo Securities, LLC</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3pt">PNC Capital Markets LLC</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3pt"></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 3pt 7pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Co-Managers:</FONT></TD>
    <TD STYLE="padding: 3pt 7pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3pt">BofA Securities,&nbsp;Inc.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3pt">J.P. Morgan Securities LLC</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3pt">Stifel, Nicolaus&nbsp;&amp; Company,&nbsp;Incorporated</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3pt">Capital One Securities,&nbsp;Inc.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3pt">Citizens Capital Markets,&nbsp;Inc.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3pt">Mizuho Securities USA LLC</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3pt">Morgan Stanley&nbsp;&amp; Co. LLC</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3pt">Raymond James&nbsp;&amp; Associates,&nbsp;Inc.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3pt">Regions Securities LLC</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3pt">U.S. Bancorp Investments,&nbsp;Inc.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3pt"></P></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; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Note:
A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.</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">Taking into account the Issuer&rsquo;s termination
of its forward starting swaps, the Notes have an effective all-in interest rate of approximately 3.76% and extend the Issuer&rsquo;s
weighted-average debt maturity to approximately 8 years, excluding the unsecured revolving credit facility.</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-align: justify; text-indent: 0.5in"><B>The Issuer has filed a
registration statement and a prospectus with the Securities and Exchange Commission (the &ldquo;SEC&rdquo;) for the offering to which
this communication relates. Before you invest, you should read the prospectus and the related preliminary prospectus supplement and other
documents the Issuer has filed with the SEC for more complete information about the Issuer and this offering. You may get these documents
for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the underwriters can arrange to send you the prospectus
and related preliminary prospectus supplement if you request it by calling Citigroup Global Markets Inc. toll-free at 1-800-831-9146,
Wells Fargo Securities, LLC toll-free at 1-800-645-3751 or PNC Capital Markets LLC toll-free at 1-855-881-0697. This information does
not purport to be a complete description of these securities or the offering. Please refer to the preliminary prospectus supplement for
a complete description of the securities. This communication does not constitute an offer to sell or the solicitation of an offer to
buy any securities in any jurisdiction to any person to whom it is unlawful to make such offer or solicitation in such jurisdiction.</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: 0.5in"><B>Any disclaimer or other notice that may appear
below is not applicable to this communication and should be disregarded. Such disclaimer or notice was automatically generated as a result
of this communication being sent by Bloomberg or another email system.</B></P>

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

<!-- Field: Page; Sequence: 7; 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">Schedule II-A-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; 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: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B><U>SCHEDULE&nbsp;III</U></B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>LIST OF SUBSIDIARIES AND JOINT VENTURES</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-align: justify">The name of each entity that is a Subsidiary
Guarantor appears in bold font with an asterisk:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR><TD STYLE="white-space: nowrap; width: 40%; border: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Name</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 29%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Jurisdiction
    of Organization </B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 31%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Foreign
    Qualification</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ADC
    Express, LLC</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Michigan</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Agree
    117 Mission, LLC*</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Michigan</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Agree
    2016, LLC*</B></FONT></TD>
    <TD ROWSPAN="8" STYLE="white-space: nowrap; vertical-align: top; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Alabama</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Florida</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Georgia</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Michigan</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">North
    Carolina</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">South
    Carolina</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tennessee</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Texas</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Agree
    Beecher, LLC</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Michigan</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Agree
    Bristol&nbsp;&amp; Fenton Project, LLC</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Michigan</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD ROWSPAN="28" STYLE="white-space: nowrap; vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Agree Central, LLC*</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">&nbsp;</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">&nbsp;</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">&nbsp;</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">&nbsp;</P></TD>
    <TD ROWSPAN="28" STYLE="white-space: nowrap; vertical-align: top; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Alabama</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Arkansas</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Arizona</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">California</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Colorado</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Connecticut</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Florida</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Georgia</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Illinois</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indiana</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Iowa</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kansas</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kentucky</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Louisiana</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Maine</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Maryland</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Massachusetts</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Michigan</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Minnesota</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Missouri</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mississippi</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nevada</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
    Hampshire</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
    Jersey</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
    Mexico</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
    York</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">North
    Carolina</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">North
    Dakota</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 8; Options: NewSection; Value: 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">Schedule III-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; 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"></P>

<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>
    <TD STYLE="white-space: nowrap; width: 40%; border: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Name</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 29%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Jurisdiction
    of Organization </B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 31%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Foreign
    Qualification</B></FONT></TD></TR>

<TR>
    <TD ROWSPAN="11" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; width: 40%">&nbsp;</TD>
    <TD ROWSPAN="11" STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid; width: 29%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; width: 31%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ohio</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Oklahoma</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pennsylvania</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">South
    Carolina</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">South
    Dakota</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tennessee</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Texas</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Virginia</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">West
    Virginia</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Wisconsin</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Wyoming</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Agree
    Chapel Hill NC, LLC*</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">North
    Carolina</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Agree
    Columbia SC, LLC*</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">South
    Carolina</FONT></TD></TR>
  <TR>
    <TD ROWSPAN="28" STYLE="white-space: nowrap; vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Agree Convenience No.&nbsp;1, LLC*</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">&nbsp;</P></TD>
    <TD ROWSPAN="28" STYLE="white-space: nowrap; vertical-align: top; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Alabama</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Arkansas</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">California</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Colorado</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Florida</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Georgia</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Illinois</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Iowa</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kansas</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kentucky</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Louisiana</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Maryland</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Michigan</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Minnesota</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Missouri</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mississippi</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
    Jersey</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
    York</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">North
    Carolina</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ohio</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Oklahoma</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pennsylvania</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Rhode
    Island</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tennessee</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Texas</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Virginia</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">West
    Virginia</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Wisconsin</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Agree
    Corunna, LLC</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Michigan</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD ROWSPAN="3" STYLE="white-space: nowrap; vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Agree
    CW, LLC*</B></FONT></TD>
    <TD ROWSPAN="3" STYLE="white-space: nowrap; vertical-align: top; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kentucky</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Michigan</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Texas</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 9; Value: 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">Schedule III-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; 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"></P>

<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>
    <TD STYLE="border: black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 40%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Name</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 29%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Jurisdiction
    of Organization </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 31%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Foreign
    Qualification</B></FONT></TD></TR>

<TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Agree
    Dallas Forest Drive, LLC</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Texas</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Agree
    Development, LLC</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Agree
    DT Jacksonville NC, LLC*</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">North
    Carolina</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Agree
    Farmington NM, LLC*</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
    Mexico</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Agree
    Fort Walton Beach, LLC</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Florida</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Agree
    Grandview Heights OH, LLC*</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ohio</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>AGREE
    GREENWICH CT, LLC*</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Connecticut</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Agree
    Lebanon NH, LLC*</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
    Hampshire</FONT></TD></TR>
  <TR>
    <TD ROWSPAN="37" STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Agree Limited Partnership</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">&nbsp;</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">&nbsp;</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">&nbsp;</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">&nbsp;</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">&nbsp;</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">&nbsp;</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">&nbsp;</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">&nbsp;</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">&nbsp;</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">&nbsp;</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">&nbsp;</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">&nbsp;</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">&nbsp;</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">&nbsp;</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">&nbsp;</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">&nbsp;</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">&nbsp;</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">&nbsp;</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">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD ROWSPAN="37" STYLE="white-space: nowrap; vertical-align: top; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Alabama</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Arizona</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Arkansas</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">California</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Colorado</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Connecticut</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Florida</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Georgia</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Idaho</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Illinois</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indiana</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Iowa</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kansas</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kentucky</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Louisiana</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Maryland</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Michigan</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Minnesota</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mississippi</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Missouri</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Montana</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nebraska</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nevada</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
    Hampshire</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
    Jersey</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
    Mexico</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
    York</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">North
    Carolina</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">North
    Dakota</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ohio</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Oklahoma</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Oregon</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pennsylvania</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">South
    Carolina</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">South
    Dakota</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tennessee</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Texas</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 10; Value: 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">Schedule III-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; 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>
    <TD STYLE="border: black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 40%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Name</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 29%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Jurisdiction
    of Organization </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 31%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Foreign
    Qualification</B></FONT></TD></TR>

<TR>
    <TD ROWSPAN="5" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD ROWSPAN="5" STYLE="border-bottom: black 1pt solid; border-right: black 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Utah</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Virginia</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Washington</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">West
    Virginia</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Wisconsin</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Agree
    Littleton CO LLC</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Colorado</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Agree
    M-59 LLC</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Michigan</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Agree
    Madison AL, LLC</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Michigan</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Alabama</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Agree
    Marietta, LLC</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Georgia</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD ROWSPAN="4" STYLE="white-space: nowrap; vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Agree MCW, LLC*</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD ROWSPAN="4" STYLE="white-space: nowrap; vertical-align: top; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Florida</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Iowa</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mississippi</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
    Mexico</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Agree
    Mena AR, LLC*</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Arkansas</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Agree
    Onaway MI, LLC*</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Michigan</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Agree
    Orange CT, LLC*</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Connecticut</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Agree
    Oxford Commons AL, LLC*</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Alabama</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Agree
    Paterson NJ, LLC*</B></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
    Jersey</FONT></TD></TR>
  <TR>
    <TD ROWSPAN="3" STYLE="vertical-align: top; white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Agree
    Portfolio, LLC</B></FONT></TD>
    <TD ROWSPAN="3" STYLE="white-space: nowrap; vertical-align: top; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
    York</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">North
    Carolina</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pennsylvania</FONT></TD></TR>
  <TR>
    <TD ROWSPAN="2" STYLE="vertical-align: top; white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Agree
    Realty Services, LLC</FONT></TD>
    <TD ROWSPAN="2" STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Michigan</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Georgia</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Agree
    Realty South-East, LLC </FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Michigan</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Agree
    Roseville CA, LLC</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">California</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD ROWSPAN="16" STYLE="white-space: nowrap; vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Agree SB, LLC*</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">&nbsp;</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">&nbsp;</P></TD>
    <TD ROWSPAN="16" STYLE="white-space: nowrap; vertical-align: top; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Alabama</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Florida</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Illinois</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indiana</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kentucky</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ohio</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Georgia</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Michigan</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Missouri</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
    York</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">North
    Carolina</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Oklahoma</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">South
    Carolina</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tennessee</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Texas</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Washington</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Agree
    Secaucus NJ, LLC*</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
    Jersey</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Agree
    Shelf ES PA, LLC*</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pennsylvania</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Agree
    Shelf PA, LLC*</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pennsylvania</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Agree
    Southfield LLC*</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Michigan</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 11; Value: 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">Schedule III-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; 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>
    <TD STYLE="border: black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 40%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Name</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 29%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Jurisdiction
    of Organization </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 31%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Foreign
    Qualification</B></FONT></TD></TR>

<TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Agree
    Spring Grove, LLC</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Illinois</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Agree
    St Petersburg, LLC*</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Florida</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD ROWSPAN="37" STYLE="white-space: nowrap; vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Agree Stores, LLC*</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P></TD>
    <TD ROWSPAN="37" STYLE="white-space: nowrap; vertical-align: top; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Alabama</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Arkansas</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Arizona</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">California</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Colorado</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Connecticut</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Florida</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Georgia</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Idaho</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Illinois</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indiana</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kansas</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kentucky</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Louisiana</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Maryland</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Massachusetts</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Michigan</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Minnesota</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mississippi</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Missouri</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nevada</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
    Hampshire</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
    Jersey</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
    Mexico</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
    York</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">North
    Carolina</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ohio</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Oregon</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pennsylvania</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">South
    Carolina</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">South
    Dakota</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tennessee</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Texas</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Utah</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Virginia</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">West
    Virginia</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Wisconsin</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Agree
    Tallahassee, LLC</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Florida</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Agree
    TK, LLC*</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Illinois</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Agree
    Walker, LLC</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Michigan</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Agree
    Wawa Baltimore, LLC</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Maryland</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Agree
    Wilmington, LLC</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">North
    Carolina</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">DD
    71, LLC</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 12; Value: 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">Schedule III-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; 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>
    <TD STYLE="border: black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 40%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Name</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 29%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Jurisdiction
    of Organization </B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 31%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Foreign
    Qualification</B></FONT></TD></TR>

<TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Lunacorp,
    LLC*</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Delaware</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Virginia</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Mt.
    Pleasant Shopping Center, L.L.C.*</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Michigan</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Pachyderm
    Chattanooga TN, LLC*</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tennessee</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Pachyderm
    Marietta GA, LLC*</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Georgia</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Pachyderm
    Myrtle Beach SC, LLC*</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">South
    Carolina</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Pachyderm
    Philadelphia PA, LLC*</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pennsylvania</FONT></TD></TR>
  <TR>
    <TD ROWSPAN="28" STYLE="white-space: nowrap; vertical-align: top; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Pachyderm Properties, LLC*</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P></TD>
    <TD ROWSPAN="28" STYLE="white-space: nowrap; vertical-align: top; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Alabama</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Arkansas</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Colorado</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Connecticut</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Florida</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Georgia</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Illinois</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indiana</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Kentucky</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Louisiana</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Maryland</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Massachusetts</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Minnesota</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mississippi</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Missouri</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
    Hampshire</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
    Jersey</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
    York</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">North
    Carolina</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ohio</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Oklahoma</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Rhode
    Island</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">South
    Carolina</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tennessee</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Texas</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Virginia</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Washington</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Wisconsin</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pachyderm
    Properties II, LLC</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Pachyderm
    Riverdale GA, LLC*</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Georgia</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Pachyderm
    Waite Park MN, LLC*</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Minnesota</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Paint
    PA, LLC*</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pennsylvania</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Safari
    Properties II, LLC*</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: black 1pt solid; border-right: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mississippi</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; margin: 0pt 0"><B><U>Joint Ventures</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">None</P>

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

<!-- Field: Page; Sequence: 13; Options: NewSection; Value: 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">Schedule III-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; 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: center"><FONT STYLE="text-transform: uppercase"><B><U>SCHEDULE&nbsp;IV</U></B></FONT></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-align: center"><FONT STYLE="text-transform: uppercase"><B>MATERIAL
AGREEMENTS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">Amended and Restated Registration Rights Agreement,
                                            dated July&nbsp;8, 1994 by and among the Agree Realty Corporation, Richard Agree, Edward
                                            Rosenberg and Joel Weiner</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">First Amended and Restated Agreement of Limited
                                            Partnership of Agree Limited Partnership, dated April&nbsp;22, 1994, as amended, by and among
                                            the Agree Realty Corporation, Richard Agree, Edward Rosenberg and Joel Weiner</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify">Second Amendment to First Amended and Restated
                                            Agreement of Limited Partnership of Agree Limited Partnership, dated March&nbsp;20, 2013</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"></TD><TD STYLE="width: 0.25in">4.</TD><TD STYLE="text-align: justify">First Amendment and Joinder, dated December&nbsp;15,
                                            2016, to the Term Loan Agreement dated July&nbsp;1, 2016, among Agree Limited Partnership,
                                            Capital One and the other lenders party thereto</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"></TD><TD STYLE="width: 0.25in">5.</TD><TD STYLE="text-align: justify">Amended Employment Agreement, dated July&nbsp;1,
                                            2014, by and between Agree Realty Corporation and Richard Agree</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"></TD><TD STYLE="width: 0.25in">6.</TD><TD STYLE="text-align: justify">Amended Employment Agreement, dated July&nbsp;1,
                                            2014, by and between Agree Realty Corporation and Joey Agree</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"></TD><TD STYLE="width: 0.25in">7.</TD><TD STYLE="text-align: justify">Letter Agreement of Employment, dated April&nbsp;5,
                                            2010 between Agree Limited Partnership and Laith Hermiz</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"></TD><TD STYLE="width: 0.25in">8.</TD><TD STYLE="text-align: justify">Employment Agreement, dated February&nbsp;22,
                                            2021, between Agree Realty Corporation and Simon Leopold</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"></TD><TD STYLE="width: 0.25in">9.</TD><TD STYLE="text-align: justify">Agree Realty Corporation Profit Sharing Plan</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"></TD><TD STYLE="width: 0.25in">10.</TD><TD STYLE="text-align: justify">Agree Realty Corporation 2014 Omnibus Incentive
                                            Plan</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"></TD><TD STYLE="width: 0.25in">11.</TD><TD STYLE="text-align: justify">Form&nbsp;of Restricted Stock Agreement under
                                            the Agree Realty Corporation 2014 Omnibus Incentive Plan</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"></TD><TD STYLE="width: 0.25in">12.</TD><TD STYLE="text-align: justify">Form&nbsp;of Performance Share Award Agreement
                                            pursuant to the Agree Realty Corporation 2014 Omnibus Incentive Plan</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"></TD><TD STYLE="width: 0.25in">13.</TD><TD STYLE="text-align: justify">Agree Realty Corporation 2017 Executive Incentive
                                            Plan, dated February&nbsp;16, 2017</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"></TD><TD STYLE="width: 0.25in">14.</TD><TD STYLE="text-align: justify">Note Purchase Agreement, by Agree Limited
                                            Partnership dated May&nbsp;28, 2015</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"></TD><TD STYLE="width: 0.25in">15.</TD><TD STYLE="text-align: justify">Note Purchase Agreement, dated July&nbsp;28,
                                            2016, by and among Agree Realty Corporation, Agree Limited Partnership, Teachers Insurance
                                            and Annuity Association of America, The Guardian Life Insurance Company of America and Advantus
                                            Capital Management,&nbsp;Inc.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"></TD><TD STYLE="width: 0.25in">16.</TD><TD STYLE="text-align: justify">Term Loan Agreement dated July&nbsp;1, 2016,
                                            among Agree Limited Partnership, Capital One, National Association and the other lenders
                                            party thereto</TD></TR></TABLE>

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

<!-- Field: Page; Sequence: 14; Options: NewSection; Value: 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">Schedule IV-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; 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 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"></TD><TD STYLE="width: 0.25in">17.</TD><TD STYLE="text-align: justify">Second Amendment to Term Loan Agreement dated
                                            November&nbsp;2, 2018, among Agree Limited Partnership, Capital One, National Association,
                                            and the other lenders party thereto</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"></TD><TD STYLE="width: 0.25in">18.</TD><TD STYLE="text-align: justify">Note Purchase Agreement, dated August&nbsp;3,
                                            2017, among Agree Limited Partnership, Agree Realty Corporation and the purchasers named
                                            therein</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"></TD><TD STYLE="width: 0.25in">19.</TD><TD STYLE="text-align: justify">Uncommitted Master Note Facility, dated August&nbsp;3,
                                            2017, among Agree Limited Partnership, Agree Realty Corporation and Teachers Insurance and
                                            Annuity Associate of America (&ldquo;TIAA&rdquo;) and each TIAA Affiliate (as defined therein)</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"></TD><TD STYLE="width: 0.25in">20.</TD><TD STYLE="text-align: justify">First Supplement to Uncommitted Master Note
                                            Facility, dated September&nbsp;26, 2018, among Agree Limited Partnership, Agree Realty Corporation
                                            and TIAA</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"></TD><TD STYLE="width: 0.25in">21.</TD><TD STYLE="text-align: justify">Uncommitted Master Note Facility, dated August&nbsp;3,
                                            2017, among Agree Limited Partnership, Agree Realty Corporation and Teachers Insurance and
                                            AIG Asset Management (U.S.), LLC (&ldquo;AIG&rdquo;) and each AIG Affiliate (as defined therein)</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"></TD><TD STYLE="width: 0.25in">22.</TD><TD STYLE="text-align: justify">First Supplement to Uncommitted Master Note
                                            Facility, dated September&nbsp;26, 2018, among Agree Limited Partnership, Agree Realty Corporation,
                                            AIG and the institutional investors named therein</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"></TD><TD STYLE="width: 0.25in">23.</TD><TD STYLE="text-align: justify">Increase Agreement, dated July&nbsp;18, 2018
                                            among Agree Limited Partnership, as the Borrower, Agree Realty Corporation, as the parent,
                                            PNC Bank, National Association and the other lender parties thereto</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"></TD><TD STYLE="width: 0.25in">24.</TD><TD STYLE="text-align: justify">Form&nbsp;of Revolving Note under the Increase
                                            Agreement dated July&nbsp;18, 2018</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"></TD><TD STYLE="width: 0.25in">25.</TD><TD STYLE="text-align: justify">Term Loan Agreement, dated December&nbsp;27,
                                            2018, by and among Agree Limited Partnership, Agree Realty Corporation, PNC Bank, National
                                            Association and the other lenders party thereto</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"></TD><TD STYLE="width: 0.25in">26.</TD><TD STYLE="text-align: justify">Guaranty, dated December&nbsp;27, 2018, by
                                            and among Agree Realty Corporation and each of the subsidiaries of Agree Limited Partnership
                                            party thereto</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"></TD><TD STYLE="width: 0.25in">27.</TD><TD STYLE="text-align: justify">Reimbursement Agreement, dated November&nbsp;18,
                                            2014, by and between Agree Realty Corporation and Richard Agree</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"></TD><TD STYLE="width: 0.25in">28.</TD><TD STYLE="text-align: justify">Form&nbsp;of Performance Unit Award Notice</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">29.</FONT></TD><TD STYLE="text-align: justify">Note
                                            Purchase Agreement, dated June&nbsp;14, 2019, among Agree Limited Partnership, Agree Realty
                                            Corporation and the purchasers named therein</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">30.</FONT></TD><TD STYLE="text-align: justify">First
                                            Amendment to Term Loan Agreement, dated May&nbsp;6, 2019, by and among Agree Limited Partnership,
                                            Agree Realty Corporation, PNC Bank, National Association and the other lenders party thereto</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"></TD><TD STYLE="width: 0.25in">31.</TD><TD STYLE="text-align: justify">Second Amendment to Amended and Restated
                                            Revolving Credit and Term Loan Agreement, dated May&nbsp;6, 2019, by and among Agree Limited
                                            Partnership, Agree Realty Corporation, PNC Bank, National Association and the other lenders
                                            party thereto</TD></TR></TABLE>

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

<!-- Field: Page; Sequence: 15; Value: 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">Schedule IV-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; 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 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"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">32.</FONT></TD><TD STYLE="text-align: justify">Third
                                            Amendment to Term Loan Agreement, dated May&nbsp;6, 2019, by and among Agree Limited Partnership,
                                            Agree Realty Corporation, Capital One, National Association and the other lenders party thereto</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"></TD><TD STYLE="width: 0.25in">33.</TD><TD STYLE="text-align: justify">Second Amended and Restated Revolving Credit
                                            and Term Loan Agreement, dated December&nbsp;5, 2019, among Agree Realty Corporation, the
                                            Borrower, PNC Bank and the other lenders party thereto</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"></TD><TD STYLE="width: 0.25in">34.</TD><TD STYLE="text-align: justify">Fourth Amendment to Term Loan Agreement,
                                            dated December&nbsp;5, 2019, among Agree Limited Partnership, Agree Realty Corporation, Capital
                                            One, National Association and the other lenders party thereto</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"></TD><TD STYLE="width: 0.25in">35.</TD><TD STYLE="text-align: justify">Second Amendment to Term Loan Agreement,
                                            dated December&nbsp;5, 2019, among Agree Limited Partnership, Agree Realty Corporation, PNC
                                            Bank, National Association and the other lenders party thereto</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"></TD><TD STYLE="width: 0.25in">36.</TD><TD STYLE="text-align: justify">Summary of Material Terms of Compensation
                                            Arrangement with Danielle M. Spehar (effective December&nbsp;7, 2019)</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"></TD><TD STYLE="width: 0.25in">37.</TD><TD STYLE="text-align: justify">Agree Realty Corporation 2020 Omnibus Incentive
                                            Plan</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"></TD><TD STYLE="width: 0.25in">38.</TD><TD STYLE="text-align: justify">Form&nbsp;of Restricted Stock Agreement under
                                            the Agree Realty Corporation 2020 Omnibus Incentive Plan</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"></TD><TD STYLE="width: 0.25in">39.</TD><TD STYLE="text-align: justify">Form&nbsp;of Performance Unit Agreement under
                                            the Agree Realty Corporation 2020 Omnibus Incentive Plan</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"></TD><TD STYLE="width: 0.25in">40.</TD><TD STYLE="text-align: justify">Form&nbsp;of Restricted Stock Notice under
                                            the Agree Realty Corporation 2020 Omnibus Incentive Plan</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"></TD><TD STYLE="width: 0.25in">41.</TD><TD STYLE="text-align: justify">Indenture, dated August&nbsp;17, 2020, among
                                            Agree Limited Partnership, Agree Realty Corporation and U.S. Bank Trust Company, National
                                            Association as successor in interest to U.S. Bank National Association</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"></TD><TD STYLE="width: 0.25in">42.</TD><TD STYLE="text-align: justify">Indenture Officer&rsquo;s Certificate, dated
                                            August&nbsp;17, 2020, among Agree Limited Partnership, Agree Realty Corporation and U.S.
                                            Bank Trust Company, National Association as successor in interest to U.S. Bank National Association</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"></TD><TD STYLE="width: 0.25in">43.</TD><TD STYLE="text-align: justify">Employment Agreement, dated October&nbsp;9,
                                            2020, by and between Agree Realty Corporation and Joel Agree</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"></TD><TD STYLE="width: 0.25in">44.</TD><TD STYLE="text-align: justify">Employment Agreement dated June&nbsp;18,
                                            2020, between Agree Realty Corporation and Craig Erlich</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"></TD><TD STYLE="width: 0.25in">45.</TD><TD STYLE="text-align: justify">Addendum to Employment Agreement dated August&nbsp;19,
                                            2020, between Agree Realty Corporation and Craig Erlich</TD></TR></TABLE>

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

<!-- Field: Page; Sequence: 16; Value: 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">Schedule IV-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; 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 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"></TD><TD STYLE="width: 0.25in">46.</TD><TD STYLE="text-align: justify">Third Amended and Restated Credit Agreement,
                                            dated as of December&nbsp;15, 2021 by and among Agree Realty Corporation, Agree Limited Partnership,
                                            PNC Bank, National Association as Administrative Agent, and a syndicate of lenders named
                                            therein</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; margin: 0pt 0; text-align: center"></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"></TD><TD STYLE="width: 0.25in">47.</TD><TD STYLE="text-align: justify">Employment Agreement, dated December&nbsp;7,
                                            2021, between Agree Realty Corporation and Peter Coughenour</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"></TD><TD STYLE="width: 0.25in">48.</TD><TD STYLE="text-align: justify">Master Deposit Agreement, dated as of September&nbsp;17,
                                            2021, by and among Agree Realty Corporation, Computershare Inc. and Computershare Trust Company,
                                            N.A., as depositary, and the holders from time to time of the depositary receipts described
                                            therein relating to shares of preferred stock of Agree Realty Corporation</TD></TR></TABLE>

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

<!-- Field: Page; Sequence: 17; Value: 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">Schedule IV-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; 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"></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-align: center"><B><U>EXHIBIT&nbsp;A</U></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-align: center"><B>FORM&nbsp;OF OPINION OF BALLARD SPAHR LLP</B></P>

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

<!-- Field: Page; Sequence: 18; Options: NewSection Last; Value: 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">Exhibit A-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></P></DIV>
    <!-- Field: /Page -->

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

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.SCH
<SEQUENCE>3
<FILENAME>adc-20220815.xsd
<DESCRIPTION>XBRL TAXONOMY EXTENSION SCHEMA
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" ?>
    <!-- Field: Doc-Info; Name: Generator; Value: GoFiler Complete; Version: 5.13b -->
    <!-- Field: Doc-Info; Name: VendorURI; Value: https://www.novaworks.com -->
    <!-- Field: Doc-Info; Name: Status; Value: 0x00000000 -->
    <!-- Field: Doc-Info; Name: Misc; Value: +aA5w7xRiXgen8uLa3ZcWaKDubOdzZR+yYkxtmB4bXl6zy0ryAx2uCEaIqSmQW4N -->
<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/2021q4" xmlns:us-gaap="http://fasb.org/us-gaap/2021-01-31" xmlns:srt="http://fasb.org/srt/2021-01-31" xmlns:srt-types="http://fasb.org/srt-types/2021-01-31" xmlns:dtr-types="http://www.xbrl.org/dtr/type/2020-01-21" xmlns:adc="http://agreerealty.com/20220815" elementFormDefault="qualified" targetNamespace="http://agreerealty.com/20220815">
    <annotation>
      <appinfo>
	<link:roleType roleURI="http://agreerealty.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="adc-20220815_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="adc-20220815_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" />
	<link:linkbaseRef xlink:type="simple" xlink:href="adc-20220815_def.xml" xlink:role="http://www.xbrl.org/2003/role/definitionLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:title="Definition 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/2021q4" schemaLocation="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd" />
    <import namespace="http://fasb.org/us-gaap/2021-01-31" schemaLocation="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd" />
    <import namespace="http://fasb.org/us-types/2021-01-31" schemaLocation="https://xbrl.fasb.org/us-gaap/2021/elts/us-types-2021-01-31.xsd" />
    <import namespace="http://www.xbrl.org/dtr/type/2020-01-21" schemaLocation="https://www.xbrl.org/dtr/type/2020-01-21/types.xsd" />
    <import namespace="http://xbrl.sec.gov/country/2021" schemaLocation="https://xbrl.sec.gov/country/2021/country-2021.xsd" />
    <import namespace="http://fasb.org/srt/2021-01-31" schemaLocation="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd" />
    <import namespace="http://fasb.org/srt-types/2021-01-31" schemaLocation="https://xbrl.fasb.org/srt/2021/elts/srt-types-2021-01-31.xsd" />
    <element id="adc_DepositarySharesMember" name="DepositarySharesMember" nillable="true" xbrli:periodType="duration" type="dtr-types:domainItemType" substitutionGroup="xbrli:item" />
</schema>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.DEF
<SEQUENCE>4
<FILENAME>adc-20220815_def.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION DEFINITION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" standalone="no"?>
    <!-- Field: Doc-Info; Name: Generator; Value: GoFiler Complete; Version: 5.13b -->
    <!-- Field: Doc-Info; Name: VendorURI; Value: https://www.novaworks.com -->
    <!-- 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:xbrldt="http://xbrl.org/2005/xbrldt" 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://agreerealty.com/role/Cover" xlink:href="adc-20220815.xsd#Cover" xlink:type="simple" />
    <link:arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#hypercube-dimension" arcroleURI="http://xbrl.org/int/dim/arcrole/hypercube-dimension" />
    <link:arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#dimension-domain" arcroleURI="http://xbrl.org/int/dim/arcrole/dimension-domain" />
    <link:arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#domain-member" arcroleURI="http://xbrl.org/int/dim/arcrole/domain-member" />
    <link:arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#all" arcroleURI="http://xbrl.org/int/dim/arcrole/all" />
    <link:arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#notAll" arcroleURI="http://xbrl.org/int/dim/arcrole/notAll" />
    <link:arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#dimension-default" arcroleURI="http://xbrl.org/int/dim/arcrole/dimension-default" />
    <link:definitionLink xlink:type="extended" xlink:role="http://agreerealty.com/role/Cover" xlink:title="00000001 - Document - Cover">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_DocumentInformationLineItems" xlink:label="loc_deiDocumentInformationLineItems" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_StatementTable" xlink:label="loc_us-gaapStatementTable" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xbrldt:contextElement="segment" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_us-gaapStatementTable" xlink:type="arc" order="10" xbrldt:closed="true" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_StatementClassOfStockAxis" xlink:label="loc_us-gaapStatementClassOfStockAxis" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaapStatementTable" xlink:to="loc_us-gaapStatementClassOfStockAxis" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ClassOfStockDomain" xlink:label="loc_us-gaapClassOfStockDomain" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaapStatementClassOfStockAxis" xlink:to="loc_us-gaapClassOfStockDomain" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ClassOfStockDomain" xlink:label="loc_us-gaapClassOfStockDomain_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xbrldt:contextElement="segment" xlink:from="loc_us-gaapStatementClassOfStockAxis" xlink:to="loc_us-gaapClassOfStockDomain_10" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_CommonStockMember" xlink:label="loc_us-gaapCommonStockMember_10" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapClassOfStockDomain" xlink:to="loc_us-gaapCommonStockMember_10" xlink:type="arc" order="11" />
      <link:loc xlink:type="locator" xlink:href="adc-20220815.xsd#adc_DepositarySharesMember" xlink:label="loc_adcDepositarySharesMember_20" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapClassOfStockDomain" xlink:to="loc_adcDepositarySharesMember_20" xlink:type="arc" order="21" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_DocumentType" xlink:label="loc_deiDocumentType_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiDocumentType_40" xlink:type="arc" order="0" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_AmendmentFlag" xlink:label="loc_deiAmendmentFlag_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiAmendmentFlag_40" xlink:type="arc" order="1" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_AmendmentDescription" xlink:label="loc_deiAmendmentDescription_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiAmendmentDescription_40" xlink:type="arc" order="2" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_DocumentRegistrationStatement" xlink:label="loc_deiDocumentRegistrationStatement_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiDocumentRegistrationStatement_40" xlink:type="arc" order="3" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_DocumentAnnualReport" xlink:label="loc_deiDocumentAnnualReport_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiDocumentAnnualReport_40" xlink:type="arc" order="4" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_DocumentQuarterlyReport" xlink:label="loc_deiDocumentQuarterlyReport_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiDocumentQuarterlyReport_40" xlink:type="arc" order="5" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_DocumentTransitionReport" xlink:label="loc_deiDocumentTransitionReport_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiDocumentTransitionReport_40" xlink:type="arc" order="6" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_DocumentShellCompanyReport" xlink:label="loc_deiDocumentShellCompanyReport_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiDocumentShellCompanyReport_40" xlink:type="arc" order="7" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_DocumentShellCompanyEventDate" xlink:label="loc_deiDocumentShellCompanyEventDate_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiDocumentShellCompanyEventDate_40" xlink:type="arc" order="8" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_DocumentPeriodStartDate" xlink:label="loc_deiDocumentPeriodStartDate_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiDocumentPeriodStartDate_40" xlink:type="arc" order="9" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_DocumentPeriodEndDate" xlink:label="loc_deiDocumentPeriodEndDate_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiDocumentPeriodEndDate_40" xlink:type="arc" order="10" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="loc_deiDocumentFiscalPeriodFocus_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiDocumentFiscalPeriodFocus_40" xlink:type="arc" order="11" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_DocumentFiscalYearFocus" xlink:label="loc_deiDocumentFiscalYearFocus_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiDocumentFiscalYearFocus_40" xlink:type="arc" order="12" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_CurrentFiscalYearEndDate" xlink:label="loc_deiCurrentFiscalYearEndDate_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiCurrentFiscalYearEndDate_40" xlink:type="arc" order="13" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityFileNumber" xlink:label="loc_deiEntityFileNumber_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityFileNumber_40" xlink:type="arc" order="14" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityRegistrantName" xlink:label="loc_deiEntityRegistrantName_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityRegistrantName_40" xlink:type="arc" order="15" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityCentralIndexKey" xlink:label="loc_deiEntityCentralIndexKey_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityCentralIndexKey_40" xlink:type="arc" order="16" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityPrimarySicNumber" xlink:label="loc_deiEntityPrimarySicNumber_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityPrimarySicNumber_40" xlink:type="arc" order="17" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityTaxIdentificationNumber" xlink:label="loc_deiEntityTaxIdentificationNumber_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityTaxIdentificationNumber_40" xlink:type="arc" order="18" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityIncorporationStateCountryCode" xlink:label="loc_deiEntityIncorporationStateCountryCode_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityIncorporationStateCountryCode_40" xlink:type="arc" order="19" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityAddressAddressLine1" xlink:label="loc_deiEntityAddressAddressLine1_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityAddressAddressLine1_40" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityAddressAddressLine2" xlink:label="loc_deiEntityAddressAddressLine2_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityAddressAddressLine2_40" xlink:type="arc" order="21" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityAddressAddressLine3" xlink:label="loc_deiEntityAddressAddressLine3_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityAddressAddressLine3_40" xlink:type="arc" order="22" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityAddressCityOrTown" xlink:label="loc_deiEntityAddressCityOrTown_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityAddressCityOrTown_40" xlink:type="arc" order="23" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityAddressStateOrProvince" xlink:label="loc_deiEntityAddressStateOrProvince_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityAddressStateOrProvince_40" xlink:type="arc" order="24" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityAddressCountry" xlink:label="loc_deiEntityAddressCountry_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityAddressCountry_40" xlink:type="arc" order="25" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityAddressPostalZipCode" xlink:label="loc_deiEntityAddressPostalZipCode_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityAddressPostalZipCode_40" xlink:type="arc" order="26" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_CountryRegion" xlink:label="loc_deiCountryRegion_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiCountryRegion_40" xlink:type="arc" order="27" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_CityAreaCode" xlink:label="loc_deiCityAreaCode_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiCityAreaCode_40" xlink:type="arc" order="28" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_LocalPhoneNumber" xlink:label="loc_deiLocalPhoneNumber_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiLocalPhoneNumber_40" xlink:type="arc" order="29" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_Extension" xlink:label="loc_deiExtension_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiExtension_40" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_WrittenCommunications" xlink:label="loc_deiWrittenCommunications_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiWrittenCommunications_40" xlink:type="arc" order="31" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_SolicitingMaterial" xlink:label="loc_deiSolicitingMaterial_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiSolicitingMaterial_40" xlink:type="arc" order="32" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_PreCommencementTenderOffer" xlink:label="loc_deiPreCommencementTenderOffer_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiPreCommencementTenderOffer_40" xlink:type="arc" order="33" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_PreCommencementIssuerTenderOffer" xlink:label="loc_deiPreCommencementIssuerTenderOffer_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiPreCommencementIssuerTenderOffer_40" xlink:type="arc" order="34" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_Security12bTitle" xlink:label="loc_deiSecurity12bTitle_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiSecurity12bTitle_40" xlink:type="arc" order="35" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_NoTradingSymbolFlag" xlink:label="loc_deiNoTradingSymbolFlag_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiNoTradingSymbolFlag_40" xlink:type="arc" order="36" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_TradingSymbol" xlink:label="loc_deiTradingSymbol_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiTradingSymbol_40" xlink:type="arc" order="37" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_SecurityExchangeName" xlink:label="loc_deiSecurityExchangeName_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiSecurityExchangeName_40" xlink:type="arc" order="38" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_Security12gTitle" xlink:label="loc_deiSecurity12gTitle_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiSecurity12gTitle_40" xlink:type="arc" order="39" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_SecurityReportingObligation" xlink:label="loc_deiSecurityReportingObligation_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiSecurityReportingObligation_40" xlink:type="arc" order="40" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_AnnualInformationForm" xlink:label="loc_deiAnnualInformationForm_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiAnnualInformationForm_40" xlink:type="arc" order="41" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_AuditedAnnualFinancialStatements" xlink:label="loc_deiAuditedAnnualFinancialStatements_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiAuditedAnnualFinancialStatements_40" xlink:type="arc" order="42" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityWellKnownSeasonedIssuer" xlink:label="loc_deiEntityWellKnownSeasonedIssuer_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityWellKnownSeasonedIssuer_40" xlink:type="arc" order="43" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityVoluntaryFilers" xlink:label="loc_deiEntityVoluntaryFilers_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityVoluntaryFilers_40" xlink:type="arc" order="44" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityCurrentReportingStatus" xlink:label="loc_deiEntityCurrentReportingStatus_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityCurrentReportingStatus_40" xlink:type="arc" order="45" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityInteractiveDataCurrent" xlink:label="loc_deiEntityInteractiveDataCurrent_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityInteractiveDataCurrent_40" xlink:type="arc" order="46" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityFilerCategory" xlink:label="loc_deiEntityFilerCategory_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityFilerCategory_40" xlink:type="arc" order="47" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntitySmallBusiness" xlink:label="loc_deiEntitySmallBusiness_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntitySmallBusiness_40" xlink:type="arc" order="48" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityEmergingGrowthCompany" xlink:label="loc_deiEntityEmergingGrowthCompany_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityEmergingGrowthCompany_40" xlink:type="arc" order="49" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityExTransitionPeriod" xlink:label="loc_deiEntityExTransitionPeriod_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityExTransitionPeriod_40" xlink:type="arc" order="50" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_DocumentAccountingStandard" xlink:label="loc_deiDocumentAccountingStandard_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiDocumentAccountingStandard_40" xlink:type="arc" order="51" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_OtherReportingStandardItemNumber" xlink:label="loc_deiOtherReportingStandardItemNumber_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiOtherReportingStandardItemNumber_40" xlink:type="arc" order="52" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityShellCompany" xlink:label="loc_deiEntityShellCompany_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityShellCompany_40" xlink:type="arc" order="53" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityPublicFloat" xlink:label="loc_deiEntityPublicFloat_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityPublicFloat_40" xlink:type="arc" order="54" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityBankruptcyProceedingsReportingCurrent" xlink:label="loc_deiEntityBankruptcyProceedingsReportingCurrent_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityBankruptcyProceedingsReportingCurrent_40" xlink:type="arc" order="55" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="loc_deiEntityCommonStockSharesOutstanding_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityCommonStockSharesOutstanding_40" xlink:type="arc" order="56" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_DocumentsIncorporatedByReferenceTextBlock" xlink:label="loc_deiDocumentsIncorporatedByReferenceTextBlock_40" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiDocumentsIncorporatedByReferenceTextBlock_40" xlink:type="arc" order="57" />
    </link:definitionLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>5
<FILENAME>adc-20220815_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: 5.13b -->
    <!-- Field: Doc-Info; Name: VendorURI; Value: https://www.novaworks.com -->
    <!-- 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.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_StatementClassOfStockAxis" xlink:label="us-gaap_StatementClassOfStockAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementClassOfStockAxis" xlink:to="us-gaap_StatementClassOfStockAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementClassOfStockAxis_lbl" xml:lang="en-US">Class of Stock [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_CommonStockMember" xlink:label="us-gaap_CommonStockMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockMember" xlink:to="us-gaap_CommonStockMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockMember_lbl" xml:lang="en-US">Common Stock [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="adc-20220815.xsd#adc_DepositarySharesMember" xlink:label="adc_DepositarySharesMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="adc_DepositarySharesMember" xlink:to="adc_DepositarySharesMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="adc_DepositarySharesMember_lbl" xml:lang="en-US">Depositary Shares [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementTable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementTable_lbl" xml:lang="en-US">Statement [Table]</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_DocumentInformationLineItems" xlink:label="dei_DocumentInformationLineItems" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_DocumentInformationLineItems_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentInformationLineItems_lbl" xml:lang="en-US">Document Information [Line Items]</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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/2021q4/dei-2021q4.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>adc-20220815_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: 5.13b -->
    <!-- Field: Doc-Info; Name: VendorURI; Value: https://www.novaworks.com -->
    <!-- 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://agreerealty.com/role/Cover" xlink:href="adc-20220815.xsd#Cover" xlink:type="simple" />
    <link:presentationLink xlink:type="extended" xlink:role="http://agreerealty.com/role/Cover" xlink:title="00000001 - Document - Cover">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_CoverAbstract" xlink:label="loc_deiCoverAbstract" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_StatementTable" xlink:label="loc_us-gaapStatementTable" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_us-gaapStatementTable" order="100" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_DocumentInformationLineItems" xlink:label="loc_deiDocumentInformationLineItems" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaapStatementTable" xlink:to="loc_deiDocumentInformationLineItems" order="200" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_StatementClassOfStockAxis" xlink:label="loc_us-gaapStatementClassOfStockAxis" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaapStatementTable" xlink:to="loc_us-gaapStatementClassOfStockAxis" order="10" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ClassOfStockDomain" xlink:label="loc_us-gaapClassOfStockDomain" />
      <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaapStatementClassOfStockAxis" xlink:to="loc_us-gaapClassOfStockDomain" order="0" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_CommonStockMember" xlink:label="loc_us-gaapCommonStockMember" />
      <link:presentationArc order="20" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaapClassOfStockDomain" xlink:to="loc_us-gaapCommonStockMember" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="adc-20220815.xsd#adc_DepositarySharesMember" xlink:label="loc_adcDepositarySharesMember" />
      <link:presentationArc order="30" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaapClassOfStockDomain" xlink:to="loc_adcDepositarySharesMember" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_DocumentType" xlink:label="loc_deiDocumentType" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiDocumentType" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_AmendmentFlag" xlink:label="loc_deiAmendmentFlag" />
      <link:presentationArc order="10" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiAmendmentFlag" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_AmendmentDescription" xlink:label="loc_deiAmendmentDescription" />
      <link:presentationArc order="20" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiAmendmentDescription" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_DocumentRegistrationStatement" xlink:label="loc_deiDocumentRegistrationStatement" />
      <link:presentationArc order="30" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiDocumentRegistrationStatement" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_DocumentAnnualReport" xlink:label="loc_deiDocumentAnnualReport" />
      <link:presentationArc order="40" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiDocumentAnnualReport" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_DocumentQuarterlyReport" xlink:label="loc_deiDocumentQuarterlyReport" />
      <link:presentationArc order="50" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiDocumentQuarterlyReport" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_DocumentTransitionReport" xlink:label="loc_deiDocumentTransitionReport" />
      <link:presentationArc order="60" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiDocumentTransitionReport" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_DocumentShellCompanyReport" xlink:label="loc_deiDocumentShellCompanyReport" />
      <link:presentationArc order="70" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiDocumentShellCompanyReport" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_DocumentShellCompanyEventDate" xlink:label="loc_deiDocumentShellCompanyEventDate" />
      <link:presentationArc order="80" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiDocumentShellCompanyEventDate" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_DocumentPeriodStartDate" xlink:label="loc_deiDocumentPeriodStartDate" />
      <link:presentationArc order="90" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiDocumentPeriodStartDate" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_DocumentPeriodEndDate" xlink:label="loc_deiDocumentPeriodEndDate" />
      <link:presentationArc order="100" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiDocumentPeriodEndDate" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="loc_deiDocumentFiscalPeriodFocus" />
      <link:presentationArc order="110" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiDocumentFiscalPeriodFocus" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_DocumentFiscalYearFocus" xlink:label="loc_deiDocumentFiscalYearFocus" />
      <link:presentationArc order="120" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiDocumentFiscalYearFocus" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_CurrentFiscalYearEndDate" xlink:label="loc_deiCurrentFiscalYearEndDate" />
      <link:presentationArc order="130" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiCurrentFiscalYearEndDate" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityFileNumber" xlink:label="loc_deiEntityFileNumber" />
      <link:presentationArc order="140" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityFileNumber" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityRegistrantName" xlink:label="loc_deiEntityRegistrantName" />
      <link:presentationArc order="150" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityRegistrantName" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityCentralIndexKey" xlink:label="loc_deiEntityCentralIndexKey" />
      <link:presentationArc order="160" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityCentralIndexKey" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityPrimarySicNumber" xlink:label="loc_deiEntityPrimarySicNumber" />
      <link:presentationArc order="170" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityPrimarySicNumber" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityTaxIdentificationNumber" xlink:label="loc_deiEntityTaxIdentificationNumber" />
      <link:presentationArc order="180" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityTaxIdentificationNumber" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityIncorporationStateCountryCode" xlink:label="loc_deiEntityIncorporationStateCountryCode" />
      <link:presentationArc order="190" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityIncorporationStateCountryCode" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityAddressAddressLine1" xlink:label="loc_deiEntityAddressAddressLine1" />
      <link:presentationArc order="200" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityAddressAddressLine1" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityAddressAddressLine2" xlink:label="loc_deiEntityAddressAddressLine2" />
      <link:presentationArc order="210" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityAddressAddressLine2" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityAddressAddressLine3" xlink:label="loc_deiEntityAddressAddressLine3" />
      <link:presentationArc order="220" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityAddressAddressLine3" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityAddressCityOrTown" xlink:label="loc_deiEntityAddressCityOrTown" />
      <link:presentationArc order="230" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityAddressCityOrTown" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityAddressStateOrProvince" xlink:label="loc_deiEntityAddressStateOrProvince" />
      <link:presentationArc order="240" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityAddressStateOrProvince" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityAddressCountry" xlink:label="loc_deiEntityAddressCountry" />
      <link:presentationArc order="250" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityAddressCountry" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityAddressPostalZipCode" xlink:label="loc_deiEntityAddressPostalZipCode" />
      <link:presentationArc order="260" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityAddressPostalZipCode" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_CountryRegion" xlink:label="loc_deiCountryRegion" />
      <link:presentationArc order="270" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiCountryRegion" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_CityAreaCode" xlink:label="loc_deiCityAreaCode" />
      <link:presentationArc order="280" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiCityAreaCode" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_LocalPhoneNumber" xlink:label="loc_deiLocalPhoneNumber" />
      <link:presentationArc order="290" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiLocalPhoneNumber" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_Extension" xlink:label="loc_deiExtension" />
      <link:presentationArc order="300" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiExtension" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_WrittenCommunications" xlink:label="loc_deiWrittenCommunications" />
      <link:presentationArc order="310" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiWrittenCommunications" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_SolicitingMaterial" xlink:label="loc_deiSolicitingMaterial" />
      <link:presentationArc order="320" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiSolicitingMaterial" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_PreCommencementTenderOffer" xlink:label="loc_deiPreCommencementTenderOffer" />
      <link:presentationArc order="330" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiPreCommencementTenderOffer" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_PreCommencementIssuerTenderOffer" xlink:label="loc_deiPreCommencementIssuerTenderOffer" />
      <link:presentationArc order="340" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiPreCommencementIssuerTenderOffer" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_Security12bTitle" xlink:label="loc_deiSecurity12bTitle" />
      <link:presentationArc order="350" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiSecurity12bTitle" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_NoTradingSymbolFlag" xlink:label="loc_deiNoTradingSymbolFlag" />
      <link:presentationArc order="360" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiNoTradingSymbolFlag" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_TradingSymbol" xlink:label="loc_deiTradingSymbol" />
      <link:presentationArc order="370" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiTradingSymbol" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_SecurityExchangeName" xlink:label="loc_deiSecurityExchangeName" />
      <link:presentationArc order="380" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiSecurityExchangeName" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_Security12gTitle" xlink:label="loc_deiSecurity12gTitle" />
      <link:presentationArc order="390" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiSecurity12gTitle" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_SecurityReportingObligation" xlink:label="loc_deiSecurityReportingObligation" />
      <link:presentationArc order="400" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiSecurityReportingObligation" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_AnnualInformationForm" xlink:label="loc_deiAnnualInformationForm" />
      <link:presentationArc order="410" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiAnnualInformationForm" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_AuditedAnnualFinancialStatements" xlink:label="loc_deiAuditedAnnualFinancialStatements" />
      <link:presentationArc order="420" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiAuditedAnnualFinancialStatements" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityWellKnownSeasonedIssuer" xlink:label="loc_deiEntityWellKnownSeasonedIssuer" />
      <link:presentationArc order="430" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityWellKnownSeasonedIssuer" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityVoluntaryFilers" xlink:label="loc_deiEntityVoluntaryFilers" />
      <link:presentationArc order="440" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityVoluntaryFilers" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityCurrentReportingStatus" xlink:label="loc_deiEntityCurrentReportingStatus" />
      <link:presentationArc order="450" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityCurrentReportingStatus" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityInteractiveDataCurrent" xlink:label="loc_deiEntityInteractiveDataCurrent" />
      <link:presentationArc order="460" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityInteractiveDataCurrent" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityFilerCategory" xlink:label="loc_deiEntityFilerCategory" />
      <link:presentationArc order="470" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityFilerCategory" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntitySmallBusiness" xlink:label="loc_deiEntitySmallBusiness" />
      <link:presentationArc order="480" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntitySmallBusiness" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityEmergingGrowthCompany" xlink:label="loc_deiEntityEmergingGrowthCompany" />
      <link:presentationArc order="490" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityEmergingGrowthCompany" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityExTransitionPeriod" xlink:label="loc_deiEntityExTransitionPeriod" />
      <link:presentationArc order="500" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityExTransitionPeriod" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_DocumentAccountingStandard" xlink:label="loc_deiDocumentAccountingStandard" />
      <link:presentationArc order="510" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiDocumentAccountingStandard" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_OtherReportingStandardItemNumber" xlink:label="loc_deiOtherReportingStandardItemNumber" />
      <link:presentationArc order="520" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiOtherReportingStandardItemNumber" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityShellCompany" xlink:label="loc_deiEntityShellCompany" />
      <link:presentationArc order="530" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityShellCompany" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityPublicFloat" xlink:label="loc_deiEntityPublicFloat" />
      <link:presentationArc order="540" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityPublicFloat" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityBankruptcyProceedingsReportingCurrent" xlink:label="loc_deiEntityBankruptcyProceedingsReportingCurrent" />
      <link:presentationArc order="550" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityBankruptcyProceedingsReportingCurrent" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="loc_deiEntityCommonStockSharesOutstanding" />
      <link:presentationArc order="560" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiEntityCommonStockSharesOutstanding" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_DocumentsIncorporatedByReferenceTextBlock" xlink:label="loc_deiDocumentsIncorporatedByReferenceTextBlock" />
      <link:presentationArc order="570" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiDocumentInformationLineItems" xlink:to="loc_deiDocumentsIncorporatedByReferenceTextBlock" xlink:type="arc" />
    </link:presentationLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>7
<FILENAME>R1.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/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;">v3.22.2.2</span><table class="report" border="0" cellspacing="2" id="idm139906784669168">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Cover<br></strong></div></th>
<th class="th"><div>Aug. 15, 2022</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information [Line Items]</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="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="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="Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Aug. 15,  2022<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityFileNumber', window );">Entity File Number</a></td>
<td class="text">1-12928<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">AGREE REALTY 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="Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0000917251<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityTaxIdentificationNumber', window );">Entity Tax Identification Number</a></td>
<td class="text">38-3148187<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="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="Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">70 E. Long Lake Road<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">Bloomfield Hills<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressStateOrProvince', window );">Entity Address, State or Province</a></td>
<td class="text">MI<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">48304<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">248<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">737-4190<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="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="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="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="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="Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=us-gaap_CommonStockMember', window );">Common Stock [Member]</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="Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Common Stock, $.0001 par value<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">ADC<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=adc_DepositarySharesMember', window );">Depositary Shares [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information [Line Items]</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="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Depositary Shares, each representing one-thousandth of a share of 4.25% Series A Cumulative Redeemable Preferred Stock, $0.0001 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="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">ADCPrA<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<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="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="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="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="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="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Area code of city</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="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_DocumentInformationLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="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_DocumentInformationLineItems</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="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period.  The format of the date is YYYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="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="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="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="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="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="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="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="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="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="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the City or Town</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="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="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Code for the postal or zip code</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="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="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the state or province.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="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="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="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="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-2<br></p></div>
<a href="javascript:void(0);" onclick="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="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="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-2<br></p></div>
<a href="javascript:void(0);" onclick="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="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="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="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="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="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="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="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="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="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="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="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-2<br></p></div>
<a href="javascript:void(0);" onclick="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="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="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="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-2<br></p></div>
<a href="javascript:void(0);" onclick="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="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Local phone number for entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="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="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="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="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="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="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="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="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="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="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Title of a 12(b) registered security.</p></div>
<a href="javascript:void(0);" onclick="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="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="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="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="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="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="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="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="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="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="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="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="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="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="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="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="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="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>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementClassOfStockAxis=us-gaap_CommonStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=us-gaap_CommonStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementClassOfStockAxis=adc_DepositarySharesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=adc_DepositarySharesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>8
<FILENAME>tm2222192d10_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:adc="http://agreerealty.com/20220815"
  xmlns:dei="http://xbrl.sec.gov/dei/2021q4"
  xmlns:iso4217="http://www.xbrl.org/2003/iso4217"
  xmlns:link="http://www.xbrl.org/2003/linkbase"
  xmlns:us-gaap="http://fasb.org/us-gaap/2021-01-31"
  xmlns:xbrldi="http://xbrl.org/2006/xbrldi"
  xmlns:xlink="http://www.w3.org/1999/xlink">
    <link:schemaRef xlink:href="adc-20220815.xsd" xlink:type="simple"/>
    <context id="From2022-08-15to2022-08-15">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000917251</identifier>
        </entity>
        <period>
            <startDate>2022-08-15</startDate>
            <endDate>2022-08-15</endDate>
        </period>
    </context>
    <context id="From2022-08-152022-08-15_us-gaap_CommonStockMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000917251</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">us-gaap:CommonStockMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2022-08-15</startDate>
            <endDate>2022-08-15</endDate>
        </period>
    </context>
    <context id="From2022-08-152022-08-15_custom_DepositarySharesMember">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000917251</identifier>
            <segment>
                <xbrldi:explicitMember dimension="us-gaap:StatementClassOfStockAxis">adc:DepositarySharesMember</xbrldi:explicitMember>
            </segment>
        </entity>
        <period>
            <startDate>2022-08-15</startDate>
            <endDate>2022-08-15</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="From2022-08-15to2022-08-15">0000917251</dei:EntityCentralIndexKey>
    <dei:AmendmentFlag contextRef="From2022-08-15to2022-08-15">false</dei:AmendmentFlag>
    <dei:DocumentType contextRef="From2022-08-15to2022-08-15">8-K</dei:DocumentType>
    <dei:DocumentPeriodEndDate contextRef="From2022-08-15to2022-08-15">2022-08-15</dei:DocumentPeriodEndDate>
    <dei:EntityRegistrantName contextRef="From2022-08-15to2022-08-15">AGREE REALTY CORPORATION</dei:EntityRegistrantName>
    <dei:EntityIncorporationStateCountryCode contextRef="From2022-08-15to2022-08-15">MD</dei:EntityIncorporationStateCountryCode>
    <dei:EntityFileNumber contextRef="From2022-08-15to2022-08-15">1-12928</dei:EntityFileNumber>
    <dei:EntityTaxIdentificationNumber contextRef="From2022-08-15to2022-08-15">38-3148187</dei:EntityTaxIdentificationNumber>
    <dei:EntityAddressAddressLine1 contextRef="From2022-08-15to2022-08-15">70 E. Long Lake Road</dei:EntityAddressAddressLine1>
    <dei:EntityAddressCityOrTown contextRef="From2022-08-15to2022-08-15">Bloomfield Hills</dei:EntityAddressCityOrTown>
    <dei:EntityAddressStateOrProvince contextRef="From2022-08-15to2022-08-15">MI</dei:EntityAddressStateOrProvince>
    <dei:EntityAddressPostalZipCode contextRef="From2022-08-15to2022-08-15">48304</dei:EntityAddressPostalZipCode>
    <dei:CityAreaCode contextRef="From2022-08-15to2022-08-15">248</dei:CityAreaCode>
    <dei:LocalPhoneNumber contextRef="From2022-08-15to2022-08-15">737-4190</dei:LocalPhoneNumber>
    <dei:WrittenCommunications contextRef="From2022-08-15to2022-08-15">false</dei:WrittenCommunications>
    <dei:SolicitingMaterial contextRef="From2022-08-15to2022-08-15">false</dei:SolicitingMaterial>
    <dei:PreCommencementTenderOffer contextRef="From2022-08-15to2022-08-15">false</dei:PreCommencementTenderOffer>
    <dei:PreCommencementIssuerTenderOffer contextRef="From2022-08-15to2022-08-15">false</dei:PreCommencementIssuerTenderOffer>
    <dei:Security12bTitle contextRef="From2022-08-152022-08-15_us-gaap_CommonStockMember">Common Stock, $.0001 par value</dei:Security12bTitle>
    <dei:TradingSymbol contextRef="From2022-08-152022-08-15_us-gaap_CommonStockMember">ADC</dei:TradingSymbol>
    <dei:SecurityExchangeName contextRef="From2022-08-152022-08-15_us-gaap_CommonStockMember">NYSE</dei:SecurityExchangeName>
    <dei:Security12bTitle contextRef="From2022-08-152022-08-15_custom_DepositarySharesMember">Depositary Shares, each representing one-thousandth of a share of 4.25% Series A Cumulative Redeemable Preferred Stock, $0.0001 par value</dei:Security12bTitle>
    <dei:TradingSymbol contextRef="From2022-08-152022-08-15_custom_DepositarySharesMember">ADCPrA</dei:TradingSymbol>
    <dei:SecurityExchangeName contextRef="From2022-08-152022-08-15_custom_DepositarySharesMember">NYSE</dei:SecurityExchangeName>
    <dei:EntityEmergingGrowthCompany contextRef="From2022-08-15to2022-08-15">false</dei:EntityEmergingGrowthCompany>
</xbrl>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EXCEL
<SEQUENCE>9
<FILENAME>Financial_Report.xlsx
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
begin 644 Financial_Report.xlsx
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M=]W3CHG&K=!X#;[Q3X?#KHG&J]!TZVDF)_VN:Z3I%FA"1N/K>A(5M>5 TR
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M!Z.:60F]A%9JGZJ'-#ZH'C(*!?&Y'C[E>G@*-Y;&O%"N@GL!_]':-\*K^(+
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MU4#E/]O4#6CV#30<D05>,9FV-J/D3@H\W/[O#;#"Q([A[8N_ 5!+ P04
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M5D%"DX?E\L#\X7I59*SP (9WZ3=D8V-2(*L"K)"M!"SZ/SNJ_X\BH5=N/C^
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MPNZ_/[&\UDX:?^:+X3]>?P%02P$"% ,4    "  %AQ)5!T%-8H$   "Q
M$               @ $     9&]C4')O<',O87!P+GAM;%!+ 0(4 Q0    (
M  6'$E7N?1<<[P   "L"   1              "  :\   !D;V-0<F]P<R]C
M;W)E+GAM;%!+ 0(4 Q0    (  6'$E697)PC$ 8  )PG   3
M  "  <T!  !X;"]T:&5M92]T:&5M93$N>&UL4$L! A0#%     @ !8<250)B
M)_\*!0  ?A4  !@              ("!#@@  'AL+W=O<FMS:&5E=',O<VAE
M970Q+GAM;%!+ 0(4 Q0    (  6'$E6?H!OPL0(  .(,   -
M  "  4X-  !X;"]S='EL97,N>&UL4$L! A0#%     @ !8<259>*NQS
M$P(   L              ( !*A   %]R96QS+RYR96QS4$L! A0#%     @
M!8<25:K$(A8S 0  (@(   \              ( !$Q$  'AL+W=O<FMB;V]K
M+GAM;%!+ 0(4 Q0    (  6'$E4D'INBK0   /@!   :              "
M 7,2  !X;"]?<F5L<R]W;W)K8F]O:RYX;6PN<F5L<U!+ 0(4 Q0    (  6'
M$E5ED'F2&0$  ,\#   3              "  5@3  !;0V]N=&5N=%]4>7!E
<<UTN>&UL4$L%!@     )  D /@(  *(4      $!

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>3.22.2.2</Version>
  <ProcessingTime/>
  <ReportFormat>html</ReportFormat>
  <ContextCount>3</ContextCount>
  <ElementCount>22</ElementCount>
  <EntityCount>1</EntityCount>
  <FootnotesReported>false</FootnotesReported>
  <SegmentCount>2</SegmentCount>
  <ScenarioCount>0</ScenarioCount>
  <TuplesReported>false</TuplesReported>
  <UnitCount>3</UnitCount>
  <MyReports>
    <Report instance="tm2222192d10_8k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R1.htm</HtmlFileName>
      <LongName>00000001 - Document - Cover</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://agreerealty.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="tm2222192d10_8k.htm">tm2222192d10_8k.htm</File>
    <File>adc-20220815.xsd</File>
    <File>adc-20220815_def.xml</File>
    <File>adc-20220815_lab.xml</File>
    <File>adc-20220815_pre.xml</File>
    <File>tm2222192d10_ex1-1.htm</File>
  </InputFiles>
  <SupplementalFiles/>
  <BaseTaxonomies>
    <BaseTaxonomy items="25">http://xbrl.sec.gov/dei/2021q4</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": {
  "tm2222192d10_8k.htm": {
   "axisCustom": 0,
   "axisStandard": 1,
   "contextCount": 3,
   "dts": {
    "definitionLink": {
     "local": [
      "adc-20220815_def.xml"
     ]
    },
    "inline": {
     "local": [
      "tm2222192d10_8k.htm"
     ]
    },
    "labelLink": {
     "local": [
      "adc-20220815_lab.xml"
     ]
    },
    "presentationLink": {
     "local": [
      "adc-20220815_pre.xml"
     ]
    },
    "schema": {
     "local": [
      "adc-20220815.xsd"
     ],
     "remote": [
      "http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd",
      "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",
      "http://www.xbrl.org/2005/xbrldt-2005.xsd",
      "http://www.xbrl.org/2006/ref-2006-02-27.xsd",
      "http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd",
      "http://www.xbrl.org/lrr/role/net-2009-12-16.xsd",
      "https://www.xbrl.org/2020/extensible-enumerations-2.0.xsd",
      "https://www.xbrl.org/dtr/type/2020-01-21/types.xsd",
      "https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd",
      "https://xbrl.fasb.org/srt/2021/elts/srt-roles-2021-01-31.xsd",
      "https://xbrl.fasb.org/srt/2021/elts/srt-types-2021-01-31.xsd",
      "https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd",
      "https://xbrl.fasb.org/us-gaap/2021/elts/us-roles-2021-01-31.xsd",
      "https://xbrl.fasb.org/us-gaap/2021/elts/us-types-2021-01-31.xsd",
      "https://xbrl.sec.gov/country/2021/country-2021.xsd",
      "https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd"
     ]
    }
   },
   "elementCount": 65,
   "entityCount": 1,
   "hidden": {
    "http://xbrl.sec.gov/dei/2021q4": 2,
    "total": 2
   },
   "keyCustom": 0,
   "keyStandard": 22,
   "memberCustom": 1,
   "memberStandard": 1,
   "nsprefix": "adc",
   "nsuri": "http://agreerealty.com/20220815",
   "report": {
    "R1": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "b",
       "p",
       "body",
       "html"
      ],
      "baseRef": "tm2222192d10_8k.htm",
      "contextRef": "From2022-08-15to2022-08-15",
      "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://agreerealty.com/role/Cover",
     "shortName": "Cover",
     "subGroupType": "",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "b",
       "p",
       "body",
       "html"
      ],
      "baseRef": "tm2222192d10_8k.htm",
      "contextRef": "From2022-08-15to2022-08-15",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "dei:DocumentType",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     }
    }
   },
   "segmentCount": 2,
   "tag": {
    "adc_DepositarySharesMember": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "label": "Depositary Shares [Member]"
       }
      }
     },
     "localname": "DepositarySharesMember",
     "nsuri": "http://agreerealty.com/20220815",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "domainItemType"
    },
    "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/2021q4",
     "presentation": [
      "http://agreerealty.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/2021q4",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_AnnualInformationForm": {
     "auth_ref": [
      "r14"
     ],
     "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/2021q4",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_AuditedAnnualFinancialStatements": {
     "auth_ref": [
      "r14"
     ],
     "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/2021q4",
     "presentation": [
      "http://agreerealty.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/2021q4",
     "presentation": [
      "http://agreerealty.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/2021q4",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_CoverAbstract": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Cover page."
       }
      }
     },
     "localname": "CoverAbstract",
     "nsuri": "http://xbrl.sec.gov/dei/2021q4",
     "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/2021q4",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "gMonthDayItemType"
    },
    "dei_DocumentAccountingStandard": {
     "auth_ref": [
      "r13"
     ],
     "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/2021q4",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "accountingStandardItemType"
    },
    "dei_DocumentAnnualReport": {
     "auth_ref": [
      "r11",
      "r13",
      "r14"
     ],
     "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/2021q4",
     "presentation": [
      "http://agreerealty.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/2021q4",
     "presentation": [
      "http://agreerealty.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/2021q4",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "gYearItemType"
    },
    "dei_DocumentInformationLineItems": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.",
        "label": "Document Information [Line Items]"
       }
      }
     },
     "localname": "DocumentInformationLineItems",
     "nsuri": "http://xbrl.sec.gov/dei/2021q4",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "stringItemType"
    },
    "dei_DocumentPeriodEndDate": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period.  The format of the date is YYYY-MM-DD.",
        "label": "Document Period End Date"
       }
      }
     },
     "localname": "DocumentPeriodEndDate",
     "nsuri": "http://xbrl.sec.gov/dei/2021q4",
     "presentation": [
      "http://agreerealty.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/2021q4",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "dateItemType"
    },
    "dei_DocumentQuarterlyReport": {
     "auth_ref": [
      "r12"
     ],
     "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/2021q4",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_DocumentRegistrationStatement": {
     "auth_ref": [
      "r0"
     ],
     "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/2021q4",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_DocumentShellCompanyEventDate": {
     "auth_ref": [
      "r13"
     ],
     "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/2021q4",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "dateItemType"
    },
    "dei_DocumentShellCompanyReport": {
     "auth_ref": [
      "r13"
     ],
     "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/2021q4",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_DocumentTransitionReport": {
     "auth_ref": [
      "r15"
     ],
     "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/2021q4",
     "presentation": [
      "http://agreerealty.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/2021q4",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "submissionTypeItemType"
    },
    "dei_DocumentsIncorporatedByReferenceTextBlock": {
     "auth_ref": [
      "r3"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Documents incorporated by reference.",
        "label": "Documents Incorporated by Reference [Text Block]"
       }
      }
     },
     "localname": "DocumentsIncorporatedByReferenceTextBlock",
     "nsuri": "http://xbrl.sec.gov/dei/2021q4",
     "presentation": [
      "http://agreerealty.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/2021q4",
     "presentation": [
      "http://agreerealty.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/2021q4",
     "presentation": [
      "http://agreerealty.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/2021q4",
     "presentation": [
      "http://agreerealty.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/2021q4",
     "presentation": [
      "http://agreerealty.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/2021q4",
     "presentation": [
      "http://agreerealty.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/2021q4",
     "presentation": [
      "http://agreerealty.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/2021q4",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "stateOrProvinceItemType"
    },
    "dei_EntityBankruptcyProceedingsReportingCurrent": {
     "auth_ref": [
      "r6"
     ],
     "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/2021q4",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_EntityCentralIndexKey": {
     "auth_ref": [
      "r2"
     ],
     "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/2021q4",
     "presentation": [
      "http://agreerealty.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/2021q4",
     "presentation": [
      "http://agreerealty.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/2021q4",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "yesNoItemType"
    },
    "dei_EntityEmergingGrowthCompany": {
     "auth_ref": [
      "r2"
     ],
     "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/2021q4",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_EntityExTransitionPeriod": {
     "auth_ref": [
      "r19"
     ],
     "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/2021q4",
     "presentation": [
      "http://agreerealty.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/2021q4",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "fileNumberItemType"
    },
    "dei_EntityFilerCategory": {
     "auth_ref": [
      "r2"
     ],
     "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/2021q4",
     "presentation": [
      "http://agreerealty.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/2021q4",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "edgarStateCountryItemType"
    },
    "dei_EntityInteractiveDataCurrent": {
     "auth_ref": [
      "r16"
     ],
     "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/2021q4",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "yesNoItemType"
    },
    "dei_EntityPrimarySicNumber": {
     "auth_ref": [
      "r14"
     ],
     "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/2021q4",
     "presentation": [
      "http://agreerealty.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/2021q4",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "monetaryItemType"
    },
    "dei_EntityRegistrantName": {
     "auth_ref": [
      "r2"
     ],
     "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/2021q4",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_EntityShellCompany": {
     "auth_ref": [
      "r2"
     ],
     "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/2021q4",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_EntitySmallBusiness": {
     "auth_ref": [
      "r2"
     ],
     "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/2021q4",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_EntityTaxIdentificationNumber": {
     "auth_ref": [
      "r2"
     ],
     "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/2021q4",
     "presentation": [
      "http://agreerealty.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/2021q4",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "yesNoItemType"
    },
    "dei_EntityWellKnownSeasonedIssuer": {
     "auth_ref": [
      "r17"
     ],
     "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/2021q4",
     "presentation": [
      "http://agreerealty.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/2021q4",
     "presentation": [
      "http://agreerealty.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/2021q4",
     "presentation": [
      "http://agreerealty.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/2021q4",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "trueItemType"
    },
    "dei_OtherReportingStandardItemNumber": {
     "auth_ref": [
      "r13"
     ],
     "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/2021q4",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "otherReportingStandardItemNumberItemType"
    },
    "dei_PreCommencementIssuerTenderOffer": {
     "auth_ref": [
      "r7"
     ],
     "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/2021q4",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_PreCommencementTenderOffer": {
     "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 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/2021q4",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_Security12bTitle": {
     "auth_ref": [
      "r1"
     ],
     "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/2021q4",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "securityTitleItemType"
    },
    "dei_Security12gTitle": {
     "auth_ref": [
      "r5"
     ],
     "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/2021q4",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "securityTitleItemType"
    },
    "dei_SecurityExchangeName": {
     "auth_ref": [
      "r4"
     ],
     "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/2021q4",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "edgarExchangeCodeItemType"
    },
    "dei_SecurityReportingObligation": {
     "auth_ref": [
      "r9"
     ],
     "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/2021q4",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "securityReportingObligationItemType"
    },
    "dei_SolicitingMaterial": {
     "auth_ref": [
      "r10"
     ],
     "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/2021q4",
     "presentation": [
      "http://agreerealty.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/2021q4",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "tradingSymbolItemType"
    },
    "dei_WrittenCommunications": {
     "auth_ref": [
      "r18"
     ],
     "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/2021q4",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "us-gaap_ClassOfStockDomain": {
     "auth_ref": [],
     "localname": "ClassOfStockDomain",
     "nsuri": "http://fasb.org/us-gaap/2021-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_CommonStockMember": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "label": "Common Stock [Member]"
       }
      }
     },
     "localname": "CommonStockMember",
     "nsuri": "http://fasb.org/us-gaap/2021-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "domainItemType"
    },
    "us-gaap_StatementClassOfStockAxis": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "label": "Class of Stock [Axis]"
       }
      }
     },
     "localname": "StatementClassOfStockAxis",
     "nsuri": "http://fasb.org/us-gaap/2021-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "stringItemType"
    },
    "us-gaap_StatementTable": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "label": "Statement [Table]"
       }
      }
     },
     "localname": "StatementTable",
     "nsuri": "http://fasb.org/us-gaap/2021-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "stringItemType"
    }
   },
   "unitCount": 3
  }
 },
 "std_ref": {
  "r0": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "12"
  },
  "r1": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "12",
   "Subsection": "b"
  },
  "r10": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "14a",
   "Subsection": "12"
  },
  "r11": {
   "Name": "Form 10-K",
   "Number": "249",
   "Publisher": "SEC",
   "Section": "310"
  },
  "r12": {
   "Name": "Form 10-Q",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "308",
   "Subsection": "a"
  },
  "r13": {
   "Name": "Form 20-F",
   "Number": "249",
   "Publisher": "SEC",
   "Section": "220",
   "Subsection": "f"
  },
  "r14": {
   "Name": "Form 40-F",
   "Number": "249",
   "Publisher": "SEC",
   "Section": "240",
   "Subsection": "f"
  },
  "r15": {
   "Name": "Forms 10-K, 10-Q, 20-F",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "13",
   "Subsection": "a-1"
  },
  "r16": {
   "Name": "Regulation S-T",
   "Number": "232",
   "Publisher": "SEC",
   "Section": "405"
  },
  "r17": {
   "Name": "Securities Act",
   "Number": "230",
   "Publisher": "SEC",
   "Section": "405"
  },
  "r18": {
   "Name": "Securities Act",
   "Number": "230",
   "Publisher": "SEC",
   "Section": "425"
  },
  "r19": {
   "Name": "Securities Act",
   "Number": "7A",
   "Publisher": "SEC",
   "Section": "B",
   "Subsection": "2"
  },
  "r2": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "12",
   "Subsection": "b-2"
  },
  "r3": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "12",
   "Subsection": "b-23"
  },
  "r4": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "12",
   "Subsection": "d1-1"
  },
  "r5": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "12",
   "Subsection": "g"
  },
  "r6": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "12, 13, 15d"
  },
  "r7": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "13e",
   "Subsection": "4c"
  },
  "r8": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "14d",
   "Subsection": "2b"
  },
  "r9": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "15",
   "Subsection": "d"
  }
 },
 "version": "2.1"
}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>ZIP
<SEQUENCE>15
<FILENAME>0001104659-22-092594-xbrl.zip
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
begin 644 0001104659-22-092594-xbrl.zip
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M YT+57B@$[\%Y(2==B!>7#Z92P@]5<'MV"@"=.1MH(Z4R'LTY18+PA-]U2
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M>2EBQ^'2VL.EV!@N]9$"0L-8$<MEMHLZ 5J%.TE(1LQN;W$%X8K1A"D-M-1
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MYH-B_[X5*CU!KR>_G>>?V-W/[U\]UOT_4$L#!!0    (  6'$E6M3;=G1K
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M0KR2PL"+,(V!PJ4A84=&*/O]N/XUS&H!!PDG#'<5BQ 2G!D-C1<=M DLKWG
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MI>^DK+X(\! =HJ P,.V<IQE1I*S2BCK>,UJ$XN2MQ/ ,*X?]E>33[:J5"XI
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M22%/0EO.YP\F24Y372_2M DFCZKWB;8,^Y"RA$]T(6K/H$]'6'*]M80;:J^
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MAE@J]#(QOJ>D(C[WR$>+) C&%EV(1?D^R+5US7Q=@D)_YHMS^^:9@S&Q]".
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M*L08C:>=:=NI9"K+XU9Y4IC&;;956_BB1X]]A)X&*!@8PD3N.:IC0D9S_&J
M ?PZ?8'@B%]D$EKQ!/,IITO$6,^Q\T6[.Q#FW?HC>YX4@WMO8/VOIP@Q?*Z?
M, M!%?.@^[,S')85G!^CR]8%B48?\]-*,>8LCIZG!2QLHP_ #A8^#7)$8IT0
M'X4O;?8-!F'HRVR]'(*&'DL,RL<N<_*$<.N])Q<'O'N=KX,H[1.E37/'='JM
MG*)VAD2\,MO2VB4RJZ]#-GTMA.]A7W3VQ7K]IZ?9F,R,^WTDQ0<*8:!T=6@*
M%)S(GS.E,$?@8X9V/HN5B*0*2"^6&LW6WQQKMAJ4ZKHAM4L)XZ+MT+ 1!Y=*
M'-L)0X<QX* _R/!,I%.>[SL*ES(W8Z#JO6L/XO[OZCU#VZ>'T#:'MD\/H>TO
M7*9>7OYYH6UT=C&YISSX2!>;-@ZU#K(D\869-U*E<5]D$(WC24($1(5D?RNJ
M^.9T(*%%@Z9?/50J+@U*CC>,.&,,#:(L$9E%+3B<X#2IPAFY/QI9FI53SJ;'
M@B[;^E *:3NV._Q2:]2QQ,LP( C9-#\"9]$P9NKK!:TC-)!P_R7R79R)JZO/
MRUT6.._X$EA!B,OB<2!''#SN?!,5)?9B( 0) 5M6*^RV1I1<<^.<'1/C\B=Q
M)9L3A$CQ>I[)*?'CFJ8F&)#"G^KC33;1K__][A63JK4=[B6!_5I6AHFTKF<9
MT:<2 9GP9*;% GW5V=##,5>?J*O^=IVG@K(^.7OP^&AR?'0J[CHV?E_G%Y[<
MG"#S2B;@8QZO/D[A@1<I4;$>3DG?*?GX\0Y"LCVT?\2NW9*<6=B,ARG)N9V>
M0VI.JO(#[KMVZ1#2=/G/,3LZQ1;)(6;*QS[<:%IMC^TNHM 6Q6$%:3.4)8)?
M58C9B4KN!;0L";:%>:S4U3]/I=: V$8$L",Q"XOSI+$>]0-.SS \I(?D7$_B
M\XV&IO%?/SD8X'DQ@QU5;5",8% 'NUEZ(A03JOOI_->W0:CNF NG^<1'\ZQ:
M4@-2O(Q0SZ3Z<187V2KNP>YJ4SA0NLT5P]PQ61U@];K$K[&Z2#B+6%9CM*T3
ML0:"AR%OS(UQ6XF=3?C\[<FC6["0XQITL^]$O)AM@9 O>G<Q(VZ?Q=J, Q-I
M=>F?<1!B?4)LL_G+9,#CZ"@3+;>[/(#LX!WDJ+9?6>Z:@?LF[>;L^B:MAF18
M@[83"IQHNDSOA$#.K%E+I84V?)[UWHE;XV+;&7X_<SH==I%K\93)TN!,]FB#
M*V?59>!]LH"4!S*K<GDMYB[H9Y,DYVS9W&7(*?<'%X/Q,D^F''<F<WOFV]&;
MQM;S]DL>#FC? ?WWO^\B\?L)K.ZT?\GU8JR#UCD93HO=/-8W9K;X7I#8#B%,
M_'^28,.("U*-85O6&0D7=RHQ'50AJ5;:;Y9W.HB8SJ:#8D2OR:@ C24;/FA-
M+2,V8)$M8>D+4.TE]9$A"PG<5W36]Z!DH<--Y&LP#>3V,F3=/ZRO5XMM..OA
M^*Y#+=WC$@ZM9MN(P-F1H6SX09[J/::R>.9G%D/"*/\;@:7CX;[EY[!G>=[H
M'B]A+-;<>C8>%;[]S-#3BQW)-"621S*Z>4:\S;$S-BVW'=V%:M2$ZF3&V$ F
M/-[5*,;U_F/*A,%=VKM).9P!8^^9D6?VY7L[WVP!JM-+$C 2U2_F$VT'R\6F
MQN@53&DZ711E7EZX8%8RPSPY:_#+5(WTVM6+$YI2]XV61KJ*<=1>%_CZ9-[/
MF<@HX:H;O#GW7[>]'?O?/<:J/E:OQ!-('=+I"46"I7186X])4"("XGO;X%'O
M'4ORFZQ=:Y+ E7<)O#<NI2*:1W[6JCCHUH+L6!0N(=(4=$\92ZMY!;LQ%;=7
M(.X,\^4?Z]D%Q^"$C0"!-:'O%M 92&.F<EUQ)44UR7"1B>8@9"8@$\%-1X>G
MH,M-L&U*MAY2%G0@1E'T!14[VE][C>/QN ZQUCS@#W;T);;JY+20;VQW_GX\
M:F\!MWPKSP>W9<>PH;4N3-J4BFA@-Q)=$AQ@?ZBDWG59SESA[?TWA/9,$STZ
MI(DX3?3HD";ZD\WPDX=/;]<0_^;AG4$R?OC]QW-XK671*LTGS@W!/__PU>\_
MWG^Y<1<.5'(O6E/V^$YQ] >F+G+505BCEZ.Y2\Q J*<R675I7X6]Y!9)M<P1
MHL 00]_0*!Z*[EDSWP0:Q+B_2*63 ED?-GCA3!+A=[Y:E-ZHZSY]C\+^TZ<.
MY7;&8<[@ZT<GZGK9L''LJJX-JXL47\=2:1N#4[),+AA^;'@498;)$N+IC8.>
MX9L6/?92H!L$RP1[ ]G@34Z$1M,):SOK7)'.8G=)<RLRA03\[,VJ&$N-/(\4
MC<,USD#3OR[G"9F=IM9\U^M2TLSP-KJ4$^-3CGU\+"'";'0H&;;B,L3CT7HE
M54I@-U?KU'>BI^O *\-B].YW8"3Z8!DV*PDS4L,!/O'_:7&1Z8<^DQ&/1X8]
MBV[A$EM/'I\\C\Z]JWOL"*H],[8?K_N,;DSF6<^(6^AR>CNI[)9^;KXK*ODR
M'S@6YJ=!KJ5X'#PR3Q,<^C,3N1N<^>@:$R_\8#KSX5M8  '>[@TFZY>,T+3!
MTH&XJLQBJ[ H7!XJ7EF)BRC88MQ?GW<%HMT+4+MJ)L>2FQ,)M0B6D&1<X-">
M;^$*(T?+9$;,V>$*2OQU_V7$?IJW>(!P 423_(3:X9_(@\VD[KI.P[,/>W>O
MZ?>S2[,M\=^>:8YN-LNT.ENF.:!XN8G"A#$M)\1/FSK,MRI1#.10!"NF_(.B
M\V*".%,,.[T0;F,2Y\1K7*<!F:^#]&FGY)[B$VZ!2GXGYPL\UX*#1*,\AV&0
M.%=I'@<4#2+'GT5@_/F62+__&.,'KB/2[S\*9]%V'(TE'Q#@CFPI' V, ]L]
M*@5P;SU-5K=(UUIX&BY?"UXO"M[.JJH-/2NMS?F!^[?U#]WI>F>HVBYZ<,LY
M84+Z44(H\LP66YAPD[5-'3*[L1,\;%8J):#M1>PP6E*D[$0XR3.-"3(BWD#R
M=Z\;6B/.*N .:@<;O\_&G]R=C<]8)FLX.\'$.Z+>QY(W>T##@%B89,SY[5'<
M+HAH,%7CLOYHT&-HMMZ:?MWI!GB4 )U87SG+'@''GW>Z!-%U/ *1/358)"J
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M0-]M@_I2W)ZTXDXV[+3I0O-[Z@0Y5%^GPMD1]R<*:Z<:#(;2DM8__ OLB/-
M7YD22#1@A#.J/]K2JQGGZWR>Y5+ @5^;.@INOAA=+5(75;,\.F'XC^EP[.#&
M(T$3"(#7GG,"JY;D*Q$S+-*LY75Z11I\*+0H5>6# QVT/?M-U:%D,X=W98_'
M[:%H!Z5=Q5*^+$IX9J;XT!R7IS]%#&X?DU=Q(P@N%Q$?,.XZ@0BL%9X^IM*B
MVW-W)'\"V0J0-Y4CYKGX*-Z.HX%QK1;4\[M"B#/Y#BDW$B6?U?_DKW"$_ME"
M/76RB5*KH'JH[<M[,4DK.730@BLEU\]"NMX-^AJ/SIJ&#\GWT?^WQD8;T7_E
M(,-FR&]<=<&,K2+U)GK\]&GTKES#JR(.8A:=P4Y8PZN]6\,U0BMP<A(C.4MT
M!J98CO/Z F8/[EAD2?3=R<DWIQ17ML$(%U._QQMASSCL-X<X+,=AOSG$8;_T
M@N/O[K3@^)4P(E$I,1.-JPOA.KBLDHT IZ0B6 A6 V9EIUS9,^A>X'IZ:Q=B
M#JN2/@\,R3Y4=^1Z(5OE[11UB[L9E#,1JA(S)<B_0OUB-&9+8H.B/H3P&*[<
M[*L%)<0!9UY-9,H76!E$B ]Q&>N57YY0D[5)T5-8;J@Q'1MA<2NP!1J%?K6C
M"9H+^@UFF$MCXBW;M-)NGHY:$W5L'8Q-T)AP!<M,_;L26)DYV.G(D#I=(/6T
M6([R][QDLZQ18M 5A?'@7\?># *;,]V!?NK.GRUZ[DQ<M,>\2>"TF);5JJPH
MH/M2S8?8;6LWIW4XJ=H10'?+,E8\R*3?PZ6I6'/DIH^?S=&7D<6;Y Z))0R!
M+6;JWJV.U%Y@/: -,I6O$"7&M0QF+35,ZVS[H/(KCD+,$RSU<N7I(YOD8S^_
M,6,W,EC<!.FC[8-[W^?R^IO0D<88'T9FPYTK]AATG7 HDQRILSYLP(59EFA8
M)2VIY3-#UENO>52P='90Z>RXY7CO6E!UK?3%[7L',@:>@FQRAI'8S!BM$=W3
MSZCOT^I#FW@7]\)Y<N4.EM#>2"/-NNT:!O;P4Y?FE]1&JREIAW,_4 >SK*:.
MA#*C\ZV&+Q8FM-O4[RW%PWVQ?1]$ ]M V!O].K >"E?BB"%HKJ_$X"MZMQ=1
M8C"U__/T)#XY.4'>@Z-+>X)% [E;TF?MOA4D7K9-WQ#1N#(3M/P@"JVX+?J3
MTU_GQ0RL'IBUM]RO%QGKSYCUO=G$/&@0E6 I?/I,T$38F2#0)/(P^5!3BZG6
M-J$DR!"V$- 06=5RRN&CX6AHSW2%^*J&L+0.AZCL*<X4<?+K,A#(XU%OSY&>
M!$5W4,KP(C#V1*V(P389M&TQ=F3IZEUD;_#E_QI!UELWQ$]/;M<2WVE[OR?B
M1)$UL$F<,E->GWZ,GN7I\7?0W%@R ><5.="0<11LSFU%X,KK;UI"20$#,ET.
M$0F%(=]P:\5X,B6-%5R*MFT\#(P(#7C,\YI$04#4P,FG6*/@M@+>TS,DP=G5
MGW ?9:YW5PWFHK!]@%4B12'KNT+6/^J+R #4V#V _URETNL .6FO$#<7LZ:B
M#E<XDP(<-#''< XEZ-\/OHTC@<AR*^ZR<93\C/@V:/,]T+,6N2RAYRGE/'TU
MS_:D/"<(]^N@/<S/T;6DA9^H=@ECW2J$KNC8?,=Q %E4@+CC0("#D/H^$D.'
M@!I0^9 TEZ\Q<IK:$C"]0P;;:[FJ<)*GO$-@=F>76>WXL*7RHL_PJSH&"IMR
M2=U;/'%][A3C8 ZNS5[D*4/P_1[T?O=HSLJKXJ)*N U5;ZJ^E7X7>EOA;^TK
MY @/Q\V2]7AFMF?KYRV"U/U3]TX.:05:48 >=IW\3&?H<!0P>]H>'!;I,LUR
MKB4AF7&9@<XB'NK;G#RN)2$">>[A98?*!A#R6N)FR)8$SW#2RF )UBM9X5@K
MCLS%K6O-?HB=E\_O=,Q,RVY?\55Z<%N@#23+IM +O6*%;4@<M6][!MK545)H
MU5N9I(;2K__][I44[>@HS#1+"YU\H\5][G+\.ZEGR;_@D.*S?V'ZE.$AE)63
M,SE63RQ!I\ZL"YR,1]JQ!UT3T*C9>AD17&JY3"M23I.D()(<4W $ T8SY[_+
MJCL!LW2:)U4 =)^G,WH$BE]FR1$+/VO[I>UB"LU,*Y%1CZH*2&S!<!-89="T
M$7M7X'CFX)'$T3PO2^2UGTI\T$48X @GTHU<R.GQP-2A+"8"6A4VWAW=*?:9
M,+9>+Y=)HXRXK>"$$YD^]A5\W<<.+\DB$0=.!8#A@]%\A.I?[B=,89-3@)[R
MJS5.A9ZP10GBS5;=--P;#9ZO(I'#%TOLUC%UTQA'4S0:ZI!*:57BK>":. H,
M()"H1;G$G[L\-<=86MK6M1WPOV8:(9-;Q6W.BHP:*7 G,JM;KZNR[>KWZ6)M
MJ.H+C=9I*[KV&51O%&K>;5C%_51O)U-L[7V),?:EB?&H8P5351;9%"8$S4,C
M](*T,?F0QK40RXO;]DD.&7[ E<[WWW/<,X'X[2&!R G$;P\)Q"\^;G'Z)\<M
M7J;49(30,+\Q\N079"[HB1=P).-\'@E"93EPG8@@K/=0%=JN\.CA+Y;.%<J]
MOZ%B-TD0<JC3_<BTZ_8AE2.\E6]1)>\%OZ3;VUY5<2_L)Z34EUX$L9+(/GH"
MJGI=B8*@#IVQTWD$H;L0QY="^MT)*LKBP8S'A!/1:EMB60O7]BOV1O7%880Q
MM2#"J %U$V0' #^6Y[3>V_7^X691M4EH_?_M?6MS(CF3[O>.Z/^@Z+,ST;V+
M&8/OT[,=BS&VZ<&8 WAZ)TZ<#S((4V\756Q=[&9^_69*JALN<($+-X7T7F9L
M7*B44BJ5UR=Y@&0(1H!TS_(?N.N6(_O+:IJP=O S=EPO$=G :MD:AIEMO+Z&
MX5S$%.++)->5_T$NKD3EY4-;&IQZR\"I#=F0(NI:AV&<@3%%/\M$MG=YQGYA
M/KJ,%U3V?PDX=?E 4BB(HJVP)YEM2?M;E!/+CAPO';!()PKE22D(G9DSDNCC
M8,Y*SP34R#?#J7DR>"9TW/?OHFX34H1Y\YTD$JVC4C,>9-]KH?8M?-SF;7:6
M"A(4GOK<;!=$\WKG1AP7-Z?S(JKO<1XI48C #F'/0PAD+H(@ZEH6\=_V&Q0K
MJ'1M.^CI+'!U8LCT<AWG.D/)U<1@-9.0&NG+)-S\T1HGVQBCJU!^;XM3.U=8
MR*9@(0ES/ I]J &5@4,HO"E$G(6GER=LY)0T$>D#2^2+S>LDZ*9)1*:E73W7
M0HFK>T+;LEUOBAK<,\658_H'_1.B2TUTM43+?8B 7G$T:>E?$6TM9=!>N&O<
MY6$9K@;'7 S<+Q)3$J-\%IQ33+$JDYI+>!%0@'4=J'2!<AQCQ<!_'NLQ';8H
MXSX^;#F/J?*B-V>"BV-*^-Q)V V^S=&FJ[ZQ3=>,:G/?O[L,J\!27)Q1TQEY
M*I!I,#(S",'#(K6&\,:H\<+?\"_)DHMD6=H<E _[@>?3-6?QY+DE\<DY1]R2
M\"0:C&$K::X2\AY>*1;J^W=T.@6=*Q:FD%T18RUK[YEI/PG]SW!<+^II5HJ:
M5'LB3<NVAM(O:#C#L,-M^.J1C35VB0$&<;^\'"'LC!M\S1C%OR6@A(:);".8
M5RG#!%SC1_+]B2ZE8<890BB(J,F\J(#/(EDAQ7<H@1)=HL5^179X@C/J-F_!
M&3?&=TIIR%%F'+RQS.@F(:E$OEQ3-FXWA&K9\YU'V.1(:,2LG"C=LC0/;U6*
M85N5PF;P0>]5<9_%.QG'XYZE9\TSYN-5$3Y2>B_E)/H1C]H-6:+1T)Q6_&1P
M-6Z"> >&)8P_^/Z R1:J_$I'(A^H,S0EQJ.H[@Y;JG.7_I"%J6USQ9^)^=EQ
M%/1GO5X3Y(;$PK($[4;<J.$FIC@_!$J![(7)\Q'%E9YLKSJ?'GHB$2]$+)@O
M@BOV.Y'P(/*]9WRE1D%O$]%<@K-$LC6K?(,;9*!^_U0B)WR,LP!@0^AAP:L"
M9254^IQD1=TS)7#[Y4?&*,:9CF*(*,:9CF(4_O8Z?./;JW;O(I/PF/ZE,?0'
M'"5']%$'\3,VIN+2:L0<ADM ,^/:KVAB+,JG0-W5?NDM\TN+)L6II=_4%6DS
M#I.9*YB18,YXE<^ 9TR"31L+MRRJ^EB43$(Q$ -:N.0WK-3!S 7,L\=K&Z[B
MP4RV'1-,"-/QGCA6\W+^2^OO'E*#8#$2SS3F-XHI"?$,4@$5FLR,2&@[4OO@
M"8^@RLC>5D'6 JAK3KQ)\RC(75U@]7'Z17)4K#J-&*Y<FI?;K>$=SU\@VU]\
MUN=MN_S9,NIA#.:.Q'.0T9A*#;P+JC&8V E/A.2"J!05T]Q]UPVQ*J@S"1('
M]TQF/<#@%GNP/2,P4L(C^KPW?.P%,)<!G8K\HA%ACZ!FT;!XD9__, 4Q^8F<
M!4=<=:/8*"C_AOM]OOEY*(02&=S+CY_F[BUKB84)"*&D#:19NILKRNZG(ZS,
M$@5X#B/ J"#[!9(+N7=L.B3</\O/2YPW@H:/,UGMP$3B'W,]H6N@D<>+ R44
MO.W.0_DOO#S$U13WUX[%=1=%%/$:' J_&A,NG>CM?)#$-9),2DMY+_#VH^%X
M?I@#%]V+Y(5KD:-DZY.P75VW\"0\T3"_-HB#8[=CH!BE^A3M=$_*-9,^"<CZ
M@4F-"<_K1<866L$#J%]NRA%"#S":;$(I#QF&#'U/\ J\[X%#]2QX:/NM_Y]C
M?QV]L?TE4EL#X(F::?*L7=\*"P^B7 ?N61+P44&60^16XTJF)=+S.4[KU..W
M.4=3<&-%1,G[/AASPB&&2U$=-P^CN;+<)$JC)8DL6ABR#A-Y<&Q_2JY,^YZ:
M,OW?12B!<HD<G)Z2*[BRK2<4V#T/?H1Y!6GZT4^P(/N5@Q*Y#+";?B<?CP^/
M/[U_5SVK[%4.C\]*)(8G="7+ ^JBW/,S^<9,TX5O.P\VNLYDU4*)M%KU$CDZ
MVI= 0GUGQD,D8AI'\,FE:2-$6WU,'=/V,#6FS56Q.G5LT[ HJ9Y6]ZM)-*-^
M)-^!7(L^R'A+ U?Q=^)-'F17%ID"_E]/.+L13JX,N_N9=-IU>(%HW!*L%Y_I
MP?X^6.$8O C CBK[?_3N.J [_O$;_OO].SGA#L@/+#5^&,//S++<F?E($?6H
M<E2M5A.+=8$5,W.O@Y4V?K A!WR8L 1%#0'[CT7E\=TXK%0_D9/CZE[UY'C_
M,[+',]8*'+$+F:K$,ZY'](<P=#*P5^2ZG;^_/7*R3QIP9EHV'(069A-V06$H
MD7-8H,D(74PE<@-<!Y>V10Y/#_8/R<=11%#U\'3OY.!D[ZQ2V?^46*\.PUL?
M6.MAS"S;=\*-G>(?_HN[-$"JFB!$8?&T($T7I,=O'H;AQ6]A&3&7=>5>F?1D
M:7B7\9)@9"P,F$ZDT-V)[=LAKU13%M*(M)>P>#"ND(N$9]"UX9 *T)$&'%U$
MXF0HS=QX;3B-]0*3\5KZ E^4(EMTA*6"W(;@:GY\$BE)-=SDE6#%: V(P%ID
M-H@H6EH.=B0SH]L\0 *E()^%WAC"R09S$]W.DU^+4%"64XG">Q$!"9MFC@J8
M*J],?\"ECT&YQ\%5DK5.//='E-BE_7W[3V"V.-3!OHY#\3C4P;Z.0Q5<_O]$
M+^EKY#^7-.?7=2Q*)[7 MQ36#<;'R'15@,!]\:Z0^<>DBVF0;GJ%#9^P+!YA
M/[""&9UC@7'_;&[H"HM<!)@VF_@>3-6RR0,/9CB!2X&7L_"1YB8T"*^(<(#U
MKXCW[U#X$X5D_PK*\^4<?D)*AN?Q[^_??:P%9>ZQ9*]G3!O+].(.2%RZ":.6
MJ-J5P.E218CGJ(8>U2CKK)2L;N7W^M1AG@3:1IPE9\AQ%S H "9GE?-%O4Q^
M=7G+Q,KI8>7C=X3 .)=3CR:>/('Q6>-LW7AT+8Q6Q&!NXFLPL*7G@3T;BP:Y
ME$BI$6\P(8B+T406D%0O7Y:[(4G5HVKYM IR+H[KD3H9!!K8Z%0.3\H'?"(B
MWWKI9"Y[S8W.Y>"T6I:K4D]N=4*JR/<+A_]BS@QGMH0%,\TKOFF5$JY8%5<+
M9ULI<=A\&K92D8TC+Y+3OX-57"KKGG-NX#=-Y,A?2M"("\9A0DC3<GV'S[PV
M\"+(5D?@QG$''EPJ$]]\"'HD!=X\/LMPM_N&9S+2;(;%B/9PN'<)(W\GWW#1
MA,L*YAK"P-<Y; /CN>Z>C+O7>,:\;+KY\AQTNOF<S^+DC7T6/7^ N0.V$P$/
M)_2&,)[&4R)E#D: >WC/+#CNJ?AD\2Y8\WF1)1EZ"[,@9?JG3(^,^"> ,%XO
M&3(6Y(NE0;@AP<+6Y.(B"I,$X1$)Q!DTIGL& L>-9</"I';YS=ABX, @8^X-
M$9<.BW.Q% M39R6\5I;YQ1-'Q>%.KMKK,D5!B1-K'-2-</%(![S:!>5;V&&8
ME]@$*JF KH@BAG-9G<#O42/7N&80TA:(.<M>\E!B@V+WC2]PT194Q,ER&%2E
M Z3(( 0[G[N;2+P)*ZYQ4%07?5YOS?79<*2=4A9SE%JG;UXDX[$'46V2+K9<
M'SF:\;(H8 H!=QA#%7Z6/.)&S:^1/SS&'64V7+2?4A*_GF5ZRZ,ZW\4GF4HE
M  GFNV8$YI_(F2)%:=3[<Q@M9XS^EW-30Z7N_;L6?4K% PW\IG&35(IF%]MX
MIRF8SVS67F"@!N%(S0&I'%!]:VS8;YA&X?!XSE??F9$^@L8]3TB>N]IE*1XF
M8#[: PX\OT(^1F1*1*D9$B!=8IOP43A,)CS^+YR7K# UV0,UXUZD )\4:\,1
M_=0A27COM(32Q4EP@B[-F^F\^=;X/YA[@&8L\-X"]3WR^ W\P-1%' !_<B\"
M2(/8$!$FATANF^]!)P *, ]--A40>#:B!(CWC8C&"G"#/?N!!5J\+$DF =I9
M&%N*J8YQDH+91\C^CP:->FN5XE%[#(_'<;F1RCCT&BJ1H-,Y"&P3ZSLE_8\!
M$&.CU[QJ<QL6%J&ZCZV=[BR#&[R-Z%W]^/&H#629:^R!7O RH1A@7-@9NL(^
M#W$"YP\Y*S^42R2QYP/;M!T9?^$;_O3T5,;:3:0&(_^XZ9+E/L4:0L0S&":P
M_/8PC*O%]@@6Q8ZM;<INQ\ K?8FU\@A':FC.XEVYA+'#_S"7#302:6"A2W+[
MY4;&.%M%Q]E$G*VBXVR%O[7>&N'@6I2IQ#M=N=)[*$O8$R 8/!8EVA99C\PR
M1)6])>51A%HFX.2Y*)::=S"F-J@6;_[;EZJ[C#I8]54#!6+F>KQ.G<,RP[ZN
M7>B7FN4?M/%PY#MA%/Y*<2L[X4R&V-[&DXX!A\VW:#'""7JA)\EP9,4XU[("
M).BA$91/BP*81(L([.]$>=U7Y!0/(R2\0Q,B  ]XSFA8!Y"-')ZL;9NH'[$G
M,2K'-HP7YB<FC##M",P[C.;Q&P\=\B(?[  D7^$P!$AS4QT72[H@_R8-B1#E
M5_0W3Q1$,#G;$ P@Y@2-IBJB7XG%S<H@T@83=I?<<A-[M:^5%,_QVKVEA+^<
M,S^_C$(CLT:P[P) *DAX"L/U:+ZQ:,FP'6]L)F(%)2I+J-.*M5S"\B3.\8&2
MS3<GY''.+RA'#=<+<>ECF^;PNA"LVHV2Q:-P<&R%8NMS/TOEYV4':1UA(->'
MVS+QG :>KL$1(5SFX-SCX/((L"S]S;*U.E]R3$% FGB>13Q1(U+>8X.@0Z?$
M%U3HP!+Q.3 5\!)#B##[R0I:"P46=_BK !$##1_4G:!0B1]MTQ8-+-PQ'$C9
M(4!V&>']"! I',26-TMT)I"=SI8U+(]PJ1#RDUI&($XE8\1]E*L7R>E[-_W>
M?>LB^PL?&4*J7&T;\5L?%C8)3QB!HF09XRD@,BS@R;$Q+0F\38()4KZ(%+U4
M,2T=9!)H1/PBHFOP#NZ*1ZP^#M\I^I%*I"(_ IN)XVER_<^- 5)%):Q!Q*ZW
M[/L)KUTXC[1K3E;(1@LC($ZBBG3I2)!3F0-12<MO3?$7\N'?O[-$=W;$%S19
MT!PHB+;&^[0&^60+R%M,!Q4J3J+;T+/J7U#.(H],7MJ8J%>$JU0D*&.S$EA#
M2<"<YR8L% /ES/=FGTK<:V-1J<G$24WV7UJ@ <XMG0P_IZ_=$I;2LBQ5EKUU
MP=H%YAB)ZR]F0PKD:\YZ(LV+]^JR@G#QLY,XAR$I\X?P0AT*968WT$+D=L?R
M_&3S,7)!XPEN@<,6UT$ H-) +Q XY:2'+DWXM(0_@\2F,MM5A!S&Z+(*/N(_
M6-*-'"AUAG0 "]&(;DJ8<$SI0+DD&^#\(ZO_(@AYH9#S^XC7/,<[[=0-7DRZ
M4[O4]4TF,S:/3G&;2N$^D=2GC@_C3Z4_<U+-\,S!B\\<[A]EF-%AY>CED:HO
MS_KP8+^6Y:'S+',ZV*]G&.L@D>$(]T/Z8\?QQWC2#>%-\]!NAL<D<)K,F4$9
M4QL4!Q=8^(X_?/E_?S2_A/$,[J45KQ4R%EWZS2__?WN)RNC0KVJ'OG#H5[5#
M/\9]\14$?=7;ZS'>$"M8.,DL>7+IUIV@5>#"@RQ[ASW8_,IWD[DO$O1GA@U#
MDM@]F)K@QU*T2F3*?74$0YW2>042B%=D^ZY0YD0K+*[F.4PF688?\^_P%PD(
M(*[[!S#O$N(4BVN"),WPS8C+GT"ZDF'QI-=DWM)X"[F>)@E6?<D+,N,O1 H%
MQ0RL'UP[M[0YLOJU\U:#U!NM5J]3JS?;5__Y8?\#_[U3N[@(?E_YI4_&T!OC
MH_N_A/(8,8[IU(4#&_ST@<N2/_K=X 6/V#<8S.%@?6&9/@3RIG\1SAU^##\D
M]5N<>OL_/U3S-*= R:A==1L-TFK>-/N-"]*I=?OM1K=WW>R@PA%:)3 7^$<W
M;TIB#Q1P^/SVX1R^(S:BVZBU^G_#:[J=VVZMW[QME[B75D* B(ETA'=,Y=T)
MGI)'\&C_EP_I;YQ[[I>\MRV^"8O>>GCTRS-][?Z9OI;;M'YS?Q,S^6HSD[3+
MPA.Q 6[)<<Y<QTE=RQQ?4J#UX!52&U^0#N@FHO\NK[$:&VP4 .(\,G(K:D$V
ML5 O?5BP]VSZ>GY^*^C;>;/G#T3[4LG^IM(\$.1B%@607EJ:%TR:_\8MI"]O
M; &^WGNPML,JZ6KDGIV@_U"\F4T4Q,G;]YC%55AY&_]@P@^FEM--.P9>T#PJ
ME1-RT^SUN"'::M7?0N_8 !G5_<IQD>=?;[3[W5JKT"1<USJ-%KENMEJD72\T
M);>MNYOS9HWT"DY&^Z]&N]EHUQND?5LFE4(3\ZW(L[_HDZ^U^I\]V!$X'HV"
MGX_+6O<&KL[^;9NT;XI,R%6WUK[XJ]GX1JX;S:OK?H_<7A>;GD:C_:U9OR;U
M?I'I:#7.:VWDKD+OQDVC72.U;J%)*+;8O6W7OM7^!OVVT$2 D+IJ%/Q$W_[W
MY6T7WW)S<]OND6)KNIU:O]'MH7SZ6F0R>N>%GGVC7KNKW_6*O@G7C=8E:?2
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M#:K[=M;D;^>W%W^C?O';=?^F!3_\+U!+ 0(4 Q0    (  6'$E5!P,3_N ,
M -T-   0              "  0    !A9&,M,C R,C X,34N>'-D4$L! A0#
M%     @ !8<250P?64_I"   H6H  !0              ( !Y@,  &%D8RTR
M,#(R,#@Q-5]D968N>&UL4$L! A0#%     @ !8<254W%)<_,"P  89   !0
M             ( ! 0T  &%D8RTR,#(R,#@Q-5]L86(N>&UL4$L! A0#%
M  @ !8<25?5 (F@]"   .64  !0              ( !_Q@  &%D8RTR,#(R
M,#@Q-5]P<F4N>&UL4$L! A0#%     @ !8<25<X:-(3W%   !'<  !,
M         ( !;B$  '1M,C(R,C$Y,F0Q,%\X:RYH=&U02P$"% ,4    "  %
MAQ)5K4VW9T:P   "&08 %@              @ &6-@  =&TR,C(R,3DR9#$P
@7V5X,2TQ+FAT;5!+!08     !@ & (D!   0YP     !

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