<SEC-DOCUMENT>0001571049-18-000134.txt : 20180227
<SEC-HEADER>0001571049-18-000134.hdr.sgml : 20180227
<ACCEPTANCE-DATETIME>20180227134501
ACCESSION NUMBER:		0001571049-18-000134
CONFORMED SUBMISSION TYPE:	S-3ASR
PUBLIC DOCUMENT COUNT:		17
FILED AS OF DATE:		20180227
DATE AS OF CHANGE:		20180227
EFFECTIVENESS DATE:		20180227

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LEXINGTON REALTY TRUST
		CENTRAL INDEX KEY:			0000910108
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				133717318
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-3ASR
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-223257
		FILM NUMBER:		18644215

	BUSINESS ADDRESS:	
		STREET 1:		ONE PENN PLAZA
		STREET 2:		SUITE 4015
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10119
		BUSINESS PHONE:		(212) 692-7200

	MAIL ADDRESS:	
		STREET 1:		ONE PENN PLAZA
		STREET 2:		SUITE 4015
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10119

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LEXINGTON CORPORATE PROPERTIES TRUST
		DATE OF NAME CHANGE:	19980625

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LEXINGTON CORPORATE PROPERTIES INC
		DATE OF NAME CHANGE:	19930816

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LEPERCQ CORPORATE INCOME FUND L P
		CENTRAL INDEX KEY:			0000790877
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				133779859
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-3ASR
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-223257-01
		FILM NUMBER:		18644216

	BUSINESS ADDRESS:	
		STREET 1:		1 PENN PLAZA
		STREET 2:		SUITE 4015
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10119-4015
		BUSINESS PHONE:		2126927200

	MAIL ADDRESS:	
		STREET 1:		1 PENN PLAZA
		STREET 2:		SUITE 4015
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10119-4015
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-3ASR
<SEQUENCE>1
<FILENAME>tv486103-s3asr.htm
<DESCRIPTION>FORM S-3ASR
<TEXT>
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    <title>tv486103-s3asr - none - 2.7227608s</title>
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  <body style="width:595.31pt;">
    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a></div>
      <div style="margin-top:19pt;margin-bottom:21.71pt;margin-left:27pt;width:541pt;">
        <div style="margin-top:6pt; text-align:center; width:541pt; line-height:12pt;">As filed with the Securities and Exchange Commission on February&#160;27, 2018 </div>
        <div style="margin-top:1pt; text-align:right; width:541pt; line-height:12pt;">Registration No.&#8199;&#8199;&#8199;&#8199;&#8203;</div>
        <div style="margin-top:3.5pt; width:541pt;">
          <div style="margin-left: 0pt; width: 541pt; margin-top: 0pt; font-size: 2pt; line-height: 0pt; border-bottom: 2pt solid #000000; ">&#8203;</div>
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        <div style="margin-top:1.5pt; width:541pt;">
          <div style="margin-left: 0pt; width: 541pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style="margin-top:3.5pt; text-align:center; width:541pt; line-height:11pt;font-weight:bold;">UNITED STATES <br >SECURITIES AND EXCHANGE COMMISSION <br >Washington, D.C. 20549 </div>
        <div style="margin-top:7.49pt; text-align:center; width:541pt;">
          <div style="margin-left: 40.018%; margin-right: 40.018%; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style="margin-top:8pt; text-align:center; width:541pt; line-height:12pt;font-weight:bold;">FORM S-3 <br >REGISTRATION STATEMENT <br >UNDER <br >THE SECURITIES ACT OF 1933 </div>
        <div style="margin-top:6.49pt; text-align:center; width:541pt;">
          <div style="margin-left: 40.018%; margin-right: 40.018%; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style="margin-top:8pt; text-align:center; width:541pt; line-height:15pt;font-weight:bold;font-size:14pt;">LEXINGTON REALTY TRUST </div>
        <div style="margin-top:2pt; text-align:center; width:541pt; line-height:10pt;font-size:8pt;">(Exact name of registrant as specified in its charter) </div>
        <table style="width:541pt;height:27pt;margin-top:2pt;border-collapse: collapse;">
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:9pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:264.5pt;">
              <div style="text-align:center;">Maryland </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:264.5pt;">
              <div style="text-align:center;">13-3717318 </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:9pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:1pt 0pt 0.5pt 0pt; width:264.5pt;">
              <div style="text-align:center;">(State or other jurisdiction of <br >incorporation organization) </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:1pt 0pt 0.5pt 0pt; width:264.5pt;">
              <div style="text-align:center;">(I.R.S. Employer <br >Identification No.)</div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:-0.51pt; text-align:center; width:541pt;">
          <div style="margin-left: 40.018%; margin-right: 40.018%; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style="margin-top:14pt; text-align:center; width:541pt; line-height:11pt;font-weight:bold;">See Additional Registrant Table </div>
        <div style="margin-top:12.49pt; text-align:center; width:541pt;">
          <div style="margin-left: 40.018%; margin-right: 40.018%; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style="margin-top:6pt; text-align:center; width:541pt; line-height:12pt;font-weight:bold;">One Penn Plaza, Suite 4015 <br >New York, NY 10119 <br >(212) 692-7200</div>
        <div style="margin-top:2.99pt; text-align:center; width:541pt; line-height:10pt;font-size:8pt;">(Address, including zip code, and telephone number, including area code, of registrant&#8217;s principal executive offices) </div>
        <div style="margin-top:5.5pt; text-align:center; width:541pt;">
          <div style="margin-left: 40.018%; margin-right: 40.018%; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style="margin-top:5.99pt; text-align:center; width:541pt; line-height:12pt;font-weight:bold;">T. Wilson Eglin <br >President and Chief Executive Officer <br >One Penn Plaza, Suite 4015 <br >New York, NY 10119-4015 <br >(212) 692-7200</div>
        <div style="margin-top:3pt; text-align:center; width:541pt; line-height:10pt;font-size:8pt;">(Name, address, including zip code, and telephone number, including area code, of agent for service): </div>
        <div style="margin-top:6.69pt; text-align:center; width:541pt;">
          <div style="margin-left: 40.018%; margin-right: 40.018%; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style="margin-top:6.19pt; text-align:center; width:541pt; line-height:12pt;font-style:italic;">Copies to:</div>
        <div style="margin-top:2pt; text-align:center; width:541pt; line-height:12pt;font-weight:bold;">Elizabeth H. Noe <br >Paul Hastings LLP <br >1170 Peachtree Street, N.E. Suite 100 <br >Atlanta, GA 30309 <br >(404) 815-2287</div>
        <div style="margin-top:3.19pt; text-align:center; width:541pt; line-height:10pt;font-size:8pt;">(Name, address, including zip code, and telephone number, including area code, of agent for service):</div>
        <div style="margin-top:5.69pt; text-align:center; width:541pt;">
          <div style="margin-left: 40.018%; margin-right: 40.018%; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style="text-indent:20pt; margin-top:6.2pt; width:541pt; line-height:10.5pt;"><font style="font-weight:bold;">Approximate date of commencement of proposed sale to the public</font>: From time to time after this registration statement becomes effective. </div>
        <div style="text-indent:20pt; margin-top:4pt; width:541pt; line-height:10.5pt;">If the only securities being registered on this Form are being offered pursuant to dividend or interest reinvestment plans, please check the following box: &#9744;</div>
        <div style="text-indent:20pt; margin-top:4pt; width:541pt; line-height:10.5pt;">If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule&#160;415 under the Securities Act of 1933, other than securities offered only in connection with dividend or interest reinvestment plans, check the following box: &#9746;</div>
        <div style="text-indent:20pt; margin-top:4pt; width:541pt; line-height:10.5pt;">If this Form is filed to register additional securities for an offering pursuant to Rule&#160;462(b) under the Securities Act of 1933, please check the following box and list the Securities Act of 1933 registration statement number of the earlier effective registration statement for the same offering. &#9744;</div>
        <div style="text-indent:20pt; margin-top:4pt; width:541pt; line-height:10.5pt;">If this Form is a post-effective amendment filed pursuant to Rule&#160;462(c) under the Securities Act of 1933, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. &#9744;</div>
        <div style="text-indent:20pt; margin-top:4pt; width:541pt; line-height:10.5pt;">If this Form is a registration statement pursuant to General Instruction I.D or a post-effective amendment thereto that shall become effective upon filing with the Commission pursuant to Rule&#160;462(e) under the Securities Act, check the following box. &#9746;</div>
        <div style="text-indent:20pt; margin-top:4pt; width:541pt; line-height:10.5pt;">If this Form is a post-effective amendment to a registration statement filed pursuant to General Instruction I.D filed to register additional securities or additional classes of securities pursuant to Rule&#160;413(b) under the Securities Act, check the following box. &#9744;</div>
        <div style="margin-top:3.2pt; width:541pt;">
          <div style="margin-left: 0pt; width: 541pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style="margin-top:3pt; width:541pt;">
          <div style="margin-left: 0pt; width: 541pt; margin-top: 0pt; font-size: 2pt; line-height: 0pt; border-bottom: 2pt solid #000000; ">&#8203;</div>
        </div>
        <div style="margin-top:2pt; width:541pt; line-height:12pt;"></div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a></div>
      <div style="margin-top:19pt;margin-bottom:21.71pt;margin-left:27pt;width:541pt;">
        <div style="text-indent:20pt; margin-top:4pt; width:541pt; line-height:10.5pt;">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of&#8201; &#8220;large accelerated filer,&#8221; &#8220;accelerated filer,&#8221; &#8220;smaller reporting company&#8221; and &#8220;emerging growth company&#8221; in Rule&#160;12b-2 of the Exchange Act. </div>
        <table style="width:541pt;height:19.5pt;margin-top:6.5pt;border-collapse: collapse;">
          <tr style="line-height:9.5pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:9.5pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:121.37pt;">Large accelerated filer &#9746;</td>
            <td style="padding:0pt; width:15.8pt;">&#8203;</td>
            <td style="padding:0pt; width:15.8pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:77.57pt;">
              <div style="white-space:nowrap;">Accelerated filer &#9744;</div>
            </td>
            <td style="padding:0pt; width:15.8pt;">&#8203;</td>
            <td style="padding:0pt; width:15.8pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:278.86pt;">
              <div style="white-space:nowrap;">Non-accelerated filer &#9744; (Do not check if smaller reporting company)</div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:9.5pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:9.5pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:1.5pt 0pt 0.5pt 0pt; width:121.37pt;">
              <div style="white-space:nowrap;">Smaller reporting company &#9744;</div>
            </td>
            <td style="padding:0pt; width:15.8pt;">&#8203;</td>
            <td style="padding:0pt; width:15.8pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:77.57pt;">&#8203;</td>
            <td style="padding:0pt; width:15.8pt;">&#8203;</td>
            <td style="padding:0pt; width:15.8pt;">&#8203;</td>
            <td style="padding:1.5pt 0pt 0.5pt 0pt; width:278.86pt;">Emerging growth company &#9744;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="text-indent:20pt; margin-top:12pt; width:541pt; line-height:10.5pt;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section&#160;7(a)(2)(B) of the Securities Act. &#9744;</div>
        <div style="margin-top:12pt; text-align:center; width:541pt; line-height:11pt;font-weight:bold;">CALCULATION OF REGISTRATION FEE </div>
        <table style="width:541pt;height:204pt;margin-top:7pt;border-collapse: collapse;">
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:8pt;">
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:247pt;text-align:left;">
              <div style="white-space:nowrap;">Title of each class of securities to be registered </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;font-size:6pt;"><font style="font-size:8pt;">Amount to be</font> <br ><font style="font-size:8pt;">registered</font><font style=" position:relative; bottom:3.25pt;">(1)(2)(3)</font></div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">Proposed <br >maximum <br >offering <br >price per <br >unit<font style=" position:relative; bottom:3.25pt;font-size:6pt;">(1)(2)(3)</font></div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">Proposed <br >maximum <br >aggregate <br >offering <br >price<font style=" position:relative; bottom:3.25pt;font-size:6pt;">(1)(2)(3)</font></div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">Amount of <br >registration <br >fee<font style=" position:relative; bottom:3.25pt;font-size:6pt;">(3)</font></div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:1.917pt 0pt 1.833pt 0pt; width:247pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">Shares of beneficial interest classified as common stock, par value $0.0001 per share </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:20pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:15pt; text-align:right; white-space:nowrap;">&#8199;&#8199;&#8199;&#8199;</td>
            <td style="padding:0pt;padding-left:20pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:20pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:15pt; text-align:right; white-space:nowrap;">&#8199;&#8199;&#8199;&#8199;</td>
            <td style="padding:0pt;padding-left:20pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:20pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:15pt; text-align:right; white-space:nowrap;">&#8199;&#8199;&#8199;&#8199;</td>
            <td style="padding:0pt;padding-left:20pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:28pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:3.75pt; text-align:right; white-space:nowrap;">0</td>
            <td style="padding:0pt;padding-left:28pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:1.917pt 0pt 1.833pt 0pt; width:247pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">Shares of beneficial interest classified as preferred stock, par value $0.0001 per share </div>
            </td>
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            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:1.917pt 0pt 1.833pt 0pt;border-bottom:1px solid #000000; min-width:3.75pt; text-align:right; white-space:nowrap;">0</td>
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            <td style="border-bottom:1px solid #CCEEFF;padding:3.25pt 0pt 2.5pt 0pt; width:247pt;text-align:left;">
              <div style="white-space:nowrap;">Debt securities </div>
            </td>
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            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:3.75pt; text-align:right; ">$</td>
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            <td style="border-bottom:1px solid #FFFFFF;padding:3.25pt 0pt 2.5pt 0pt; width:247pt;text-align:left;">
              <div style="white-space:nowrap;">Guarantees of debt securities<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(4)</font></div>
            </td>
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            <td style="border-bottom:1px solid #CCEEFF;padding:1.917pt 0pt 1.833pt 0pt; width:247pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">Depositary shares representing preferred shares of beneficial interest, par value $0.0001 per share<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(5)</font></div>
            </td>
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            <td style="border-bottom:1px solid #FFFFFF;padding:3.25pt 0pt 2.5pt 0pt; width:247pt;text-align:left;">
              <div style="white-space:nowrap;">Warrants </div>
            </td>
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            <td style="border-bottom:1px solid #CCEEFF;padding:3.25pt 0pt 2.5pt 0pt; width:247pt;text-align:left;">
              <div style="white-space:nowrap;">Subscription Rights </div>
            </td>
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            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:3.75pt; text-align:right; ">$</td>
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            <td style="border-bottom:1px solid #FFFFFF;padding:3.25pt 0pt 0.5pt 0pt; width:247pt;text-align:left;">Units<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(6)</font></td>
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            <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:15pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:20pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
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            <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:15pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:20pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:28pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:3.25pt 0pt 1pt 0pt;border-bottom:1px solid #000000; min-width:3.75pt; text-align:right; white-space:nowrap;">0</td>
            <td style="padding:0pt;padding-left:28pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
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            <td style="padding:0pt;font-size:0pt;line-height:0pt;" colspan="26">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:10.69pt; width:541pt;">
          <div style="margin-left: 0pt; width: 108pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style=" float:left; margin-top:10.59pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(1)<br ></div>
        <div style=" float:left; margin-top:10.59pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:520.5pt;">Omitted pursuant to Form S-3 General Instruction II.E. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8.58pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(2)<br ></div>
        <div style=" float:left; margin-top:8.58pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:520.5pt;">An unspecified number or amount of shares of beneficial interest classified as common stock, par value $0.0001 per share (&#8220;common shares&#8221;), shares of beneficial interest classified as preferred stock, par value $0.0001 per share (&#8220;preferred shares&#8221;), debt securities, depositary shares representing preferred shares of beneficial interest, par value $0.0001 per share (&#8220;depositary shares&#8221;), warrants, subscription rights and&#160;units is being registered as may from time to time be issued at indeterminate prices. This Registration Statement also includes such indeterminable amount of&#8201; (i)&#160;securities of each identified class as may be issued from time to time upon exercise of warrants or conversion or exchange of convertible or exchangeable securities being registered hereunder and (ii) additional securities as may be issued to prevent dilution from stock splits, stock dividends or similar transactions pursuant to Rule&#160;416 under the Securities Act of 1933. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8.59pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(3)<br ></div>
        <div style=" float:left; margin-top:8.59pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:520.5pt;">Deferred in reliance upon Rule&#160;456(b) and Rule&#160;457(r). In connection with the securities offered hereby, the registrant will pay &#8220;pay-as-you-go registration fees&#8221; in accordance with Rule&#160;456(b). </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8.58pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(4)<br ></div>
        <div style=" float:left; margin-top:8.58pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:520.5pt;">Pursuant to Rule&#160;457(n), no separate fee will be payable with respect to the guarantees of debt securities. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8.59pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(5)<br ></div>
        <div style=" float:left; margin-top:8.59pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:520.5pt;">Each depositary share will be issued under a deposit agreement, will represent an interest in a fractional preferred share and will be evidenced by a depositary receipt. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8.78pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(6)<br ></div>
        <div style=" float:left; margin-top:8.78pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:520.5pt;">Each unit will be issued under a unit agreement and will represent an interest in one or more common shares, preferred shares, debt securities, subscription rights, depositary shares, warrants and any combination of such securities. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; text-align:center; width:541pt; line-height:11pt;font-weight:bold;">ADDITIONAL REGISTRANT TABLE</div>
        <table style="width:541pt;height:83.5pt;margin-top:7pt;border-collapse: collapse;">
          <tr style="line-height:9pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:8pt;">
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:225pt;text-align:left;">
              <div style="white-space:nowrap;">Exact Name of Registrant Guarantor as Specified in its Charter </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">State or <br >Other <br >Jurisdiction <br >of Incorporation <br >or Organization </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">Primary <br >Standard <br >Industrial <br >Classification <br >Code Number </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt;" colspan="4">
              <div style="text-align:center;">I.R.S. <br >Employer <br >Identification <br >Number </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.167pt 0pt; width:118.87pt;">
              <div style="text-align:center;">Address, Including Zip Code <br >and Telephone Number, <br >Including Area Code, <br >of Registrant&#8217;s Principal <br >Executive Offices </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt 0pt 2.167pt 0pt; width:225pt;text-align:left;">
              <div style="white-space:nowrap;">Lepercq Corporate Income Fund&#160;L.P. </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:7.495pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 2.167pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 2.167pt 0pt; min-width:27pt; text-align:right; white-space:nowrap;">Delaware</td>
            <td style="padding:0pt;padding-left:7.495pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:13.085pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 2.167pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 2.167pt 0pt; min-width:15pt; text-align:right; white-space:nowrap;">6500</td>
            <td style="padding:0pt;padding-left:13.085pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 2.167pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 2.167pt 0pt; min-width:36pt; text-align:right; white-space:nowrap;">13-3779859</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 2.167pt 0pt; width:118.87pt;text-align:center;">
              <div style="text-align:center;">One Penn Plaza, Suite 4015, <br >New York, NY 10119-4015 <br >(212) 692-7200</div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:9.5pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a></div>
      <div style="margin-top:19pt;margin-bottom:21.71pt;margin-left:27pt;width:541pt;">
        <div style="margin-top:12pt; width:541pt; line-height:11pt;font-weight:bold;font-size:10pt;">PROSPECTUS </div>
        <div style="margin-top:6pt; text-align:center; width:541pt; line-height:15pt;font-weight:bold;font-size:14pt;">Lexington Realty Trust </div>
        <div style="margin-top:5pt; text-align:center; width:541pt; line-height:13pt;font-weight:bold;font-size:12pt;">Common Shares of Beneficial Interest Classified as Common Stock <br >Preferred Shares of Beneficial Interest Classified as Preferred Stock <br >Debt Securities <br >Guarantees of Debt Securities <br >Depositary Shares <br >Warrants <br >Subscription Rights <br >Units </div>
        <div style="text-indent:20pt; margin-top:3pt; width:541pt; line-height:11.5pt;">We are Lexington Realty Trust, a self-managed and self-administered real estate investment trust formed under the laws of the State of Maryland, that acquires, owns and manages a diversified portfolio of equity investments in single-tenant commercial properties. A majority of these properties are subject to net or similar leases, where the tenant bears all or substantially all of the costs, including cost increases, for real estate taxes, utilities, insurance and ordinary repairs. Our executive offices are located at One Penn Plaza, Suite 4015, New York, NY 10119-4015, and our telephone number is (212) 692-7200. </div>
        <div style="text-indent:20pt; margin-top:3pt; width:541pt; line-height:11.5pt;">This prospectus contains a general description of the equity and debt securities that we may offer for sale. We may from time to time offer, in one or more series or classes, separately or together, the following: </div>
        <div style=" float:left; margin-left:20pt; line-height:11.5pt; margin-top:2.4pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:2.4pt; margin-bottom:0pt; line-height:11.5pt; text-align:left; width:500.5pt;">common shares of beneficial interest classified as common stock (&#8220;common shares&#8221;); </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:11.5pt; margin-top:2.4pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:2.4pt; margin-bottom:0pt; line-height:11.5pt; text-align:left; width:500.5pt;">preferred shares of beneficial interest classified as preferred stock (&#8220;preferred shares&#8221;); </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:11.5pt; margin-top:2.39pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:2.39pt; margin-bottom:0pt; line-height:11.5pt; text-align:left; width:500.5pt;">debt securities which may be either senior debt securities or subordinated debt securities (&#8220;debt securities&#8221;); </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:11.5pt; margin-top:2.4pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:2.4pt; margin-bottom:0pt; line-height:11.5pt; text-align:left; width:500.5pt;">Guarantees of debt securities; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:11.5pt; margin-top:2.6pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:2.6pt; margin-bottom:0pt; line-height:11.5pt; text-align:left; width:500.5pt;">depositary shares representing preferred shares (&#8220;depositary shares&#8221;); </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:11.5pt; margin-top:2.59pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:2.59pt; margin-bottom:0pt; line-height:11.5pt; text-align:left; width:500.5pt;">warrants; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:11.5pt; margin-top:2.6pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:2.6pt; margin-bottom:0pt; line-height:11.5pt; text-align:left; width:500.5pt;">subscription rights; or </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:11.5pt; margin-top:2.6pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:2.6pt; margin-bottom:0pt; line-height:11.5pt; text-align:left; width:500.5pt;">units consisting of combinations of any of the foregoing (&#8220;units&#8221;). </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:3pt; width:541pt; line-height:11.5pt;">We will offer our securities in amounts, at prices and on terms to be determined at the time we offer those securities. The debt securities we offer may potentially be guaranteed by our subsidiary, Lepercq Corporate Income Fund&#160;L.P. We will provide the specific terms of the securities in supplements to this prospectus. We are organized and conduct our operations so as to qualify as a real estate investment trust, or REIT, for federal income tax purposes. The specific terms of the securities may include limitations on actual, beneficial or constructive ownership and restrictions on transfer of the securities that may be appropriate to preserve our status as a REIT. To ensure that we maintain our qualification as a REIT under the applicable provisions of the Internal Revenue Code of 1986, as amended, or the Code, among other purposes, ownership of our equity securities by any person is subject to certain limitations. See &#8220;Restrictions on Transfers of Capital Stock and Anti-Takeover Provisions,&#8221; in this prospectus. </div>
        <div style="text-indent:20pt; margin-top:3pt; width:541pt; line-height:11.5pt;">The securities may be offered on a delayed or continuous basis directly by us, through agents, underwriters or dealers as designated from time to time, through a combination of these methods or any other method as provided in the applicable prospectus supplement. You should read this prospectus and any applicable prospectus supplement carefully before you invest. </div>
        <div style="text-indent:20pt; margin-top:3pt; width:541pt; line-height:11.5pt;">In addition, certain selling shareholders to be identified from time to time in a prospectus supplement may sell our securities that they own. We will not receive any of the proceeds from the sale of our securities by selling shareholders. </div>
        <div style="text-indent:20pt; margin-top:3pt; width:541pt; line-height:11.5pt;">Our common shares and our 6.50% Series&#160;C Cumulative Convertible Preferred Stock, or Series&#160;C Preferred Shares, are traded on The New York Stock Exchange under the symbols &#8220;LXP&#8221; and &#8220;LXPPRC&#8221;, respectively. On February&#160;22, 2018, the last reported sale price of our common shares, as reported on The New York Stock Exchange, was $8.15 per share. </div>
        <div style="text-indent:20pt; margin-top:3pt; width:541pt; line-height:11.5pt;font-weight:bold;">INVESTING IN OUR SECURITIES INVOLVES RISKS. IN OUR FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION, WHICH ARE INCORPORATED BY REFERENCE IN THIS PROSPECTUS, WE IDENTIFY AND DISCUSS RISK FACTORS THAT YOU SHOULD CONSIDER BEFORE INVESTING IN OUR SECURITIES. SEE &#8220;RISKS FACTORS&#8221; BEGINNING ON PAGE <a href="#tRIS">5</a> OF THIS PROSPECTUS. INVESTING IN THESE SECURITIES INVOLVES CERTAIN RISKS. SEE THE &#8220;RISK FACTORS&#8221; SECTION BEGINNING ON PAGE <a href="#tRIS">5</a> OF THIS PROSPECTUS. BEFORE BUYING OUR SECURITIES, YOU SHOULD READ AND CONSIDER THE RISK FACTORS INCLUDED IN OUR PERIODIC REPORTS, IN THE PROSPECTUS SUPPLEMENTS OR ANY OFFERING MATERIAL RELATING TO ANY SPECIFIC OFFERING, AND IN OTHER INFORMATION THAT WE FILE WITH THE SECURITIES AND EXCHANGE COMMISSION WHICH IS INCORPORATED BY REFERENCE IN THIS PROSPECTUS. SEE &#8220;WHERE YOU CAN FIND MORE INFORMATION.&#8221;</div>
        <div style="margin-top:9.667pt; text-align:center; width:541pt;">
          <div style="margin-left: 40.018%; margin-right: 40.018%; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style="text-indent:20pt; margin-top:5pt; width:541pt; line-height:12pt;font-weight:bold;font-size:10pt;">NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THESE SECURITIES OR PASSED UPON THE ADEQUACY OR ACCURACY OF THIS PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.</div>
        <div style="margin-top:9.5pt; text-align:center; width:541pt;">
          <div style="margin-left: 40.018%; margin-right: 40.018%; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style="margin-top:11pt; text-align:center; width:541pt; line-height:11pt;font-weight:bold;font-size:10pt;">The date of this prospectus is February&#160;27, 2018 </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="TOC">&#8203;</a></div>
      <div style="margin-top:46pt;height:660pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:11pt;font-weight:bold;">TABLE OF CONTENTS </div>
        <table style="width:456pt;height:344.5pt;margin-top:7pt;border-collapse: collapse;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:414pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt;text-align:center;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">Page </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:414pt;text-align:left;">
              <div style="white-space:nowrap;"><a href="#tABO">ABOUT THIS PROSPECTUS </a></div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;"><a href="#tABO">1</a></td>
            <td style="padding:0pt;padding-left:10pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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          <tr style="line-height:12pt;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:414pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;"><a href="#tCAU">CAUTIONARY STATEMENTS CONCERNING FORWARD-LOOKING INFORMATION&#8199;</a></div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;"><a href="#tCAU">3</a></td>
            <td style="padding:0pt;padding-left:10pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:414pt;text-align:left;">
              <div style="white-space:nowrap;"><a href="#tOUR">OUR COMPANY </a></div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;"><a href="#tOUR">4</a></td>
            <td style="padding:0pt;padding-left:10pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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          <tr style="line-height:10pt;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:414pt;text-align:left;">
              <div style="white-space:nowrap;"><a href="#tRIS">RISK FACTORS </a></div>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;"><a href="#tRIS">5</a></td>
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          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:414pt;text-align:left;">
              <div style="white-space:nowrap;"><a href="#tUSE">USE OF PROCEEDS </a></div>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10pt;width:0pt;">&#8203;</td>
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            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;"><a href="#tUSE">6</a></td>
            <td style="padding:0pt;padding-left:10pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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          <tr style="line-height:12pt;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:414pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;"><a href="#tRAT">RATIOS OF EARNINGS TO FIXED CHARGES AND EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED SHARE DIVIDENDS </a></div>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;"><a href="#tRAT">7</a></td>
            <td style="padding:0pt;padding-left:10pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:414pt;text-align:left;">
              <div style="white-space:nowrap;"><a href="#tDES">DESCRIPTION OF OUR COMMON SHARES </a></div>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;"><a href="#tDES">8</a></td>
            <td style="padding:0pt;padding-left:10pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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          <tr style="line-height:10pt;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:414pt;text-align:left;">
              <div style="white-space:nowrap;"><a href="#tDES1">DESCRIPTION OF OUR PREFERRED SHARES </a></div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;"><a href="#tDES1">10</a></td>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
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              <div style="white-space:nowrap;"><a href="#tDES2">DESCRIPTION OF OUR DEBT SECURITIES AND RELATED GUARANTEES </a></div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;"><a href="#tDES2">15</a></td>
            <td style="padding:0pt;padding-left:10pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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              <div style="white-space:nowrap;"><a href="#tDES3">DESCRIPTION OF DEPOSITARY SHARES </a></div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;"><a href="#tDES3">20</a></td>
            <td style="padding:0pt;padding-left:10pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:414pt;text-align:left;">
              <div style="white-space:nowrap;"><a href="#tDES4">DESCRIPTION OF WARRANTS </a></div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;"><a href="#tDES4">23</a></td>
            <td style="padding:0pt;padding-left:10pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:414pt;text-align:left;">
              <div style="white-space:nowrap;"><a href="#tDES5">DESCRIPTION OF SUBSCRIPTION RIGHTS </a></div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10pt;width:0pt;">&#8203;</td>
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            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;"><a href="#tDES5">24</a></td>
            <td style="padding:0pt;padding-left:10pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:414pt;text-align:left;">
              <div style="white-space:nowrap;"><a href="#tDES6">DESCRIPTION OF UNITS </a></div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;"><a href="#tDES6">24</a></td>
            <td style="padding:0pt;padding-left:10pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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              <div style="margin-left:10pt; text-indent:-10pt;"><a href="#tRES">RESTRICTIONS ON TRANSFERS OF CAPITAL STOCK AND ANTI-TAKEOVER PROVISIONS </a></div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10pt;width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;"><a href="#tRES">25</a></td>
            <td style="padding:0pt;padding-left:10pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:414pt;text-align:left;">
              <div style="white-space:nowrap;"><a href="#tUNI">UNITED STATES FEDERAL INCOME TAX CONSIDERATIONS </a></div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;"><a href="#tUNI">30</a></td>
            <td style="padding:0pt;padding-left:10pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:414pt;text-align:left;">
              <div style="white-space:nowrap;"><a href="#tSEL">SELLING SECURITY HOLDERS </a></div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;"><a href="#tSEL">45</a></td>
            <td style="padding:0pt;padding-left:10pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:414pt;text-align:left;">
              <div style="white-space:nowrap;"><a href="#tPLA">PLAN OF DISTRIBUTION </a></div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10pt;width:0pt;">&#8203;</td>
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            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;"><a href="#tPLA">46</a></td>
            <td style="padding:0pt;padding-left:10pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:414pt;text-align:left;">
              <div style="white-space:nowrap;"><a href="#tLEG">LEGAL MATTERS </a></div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;"><a href="#tLEG">50</a></td>
            <td style="padding:0pt;padding-left:10pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:414pt;text-align:left;">
              <div style="white-space:nowrap;"><a href="#tEXP">EXPERTS </a></div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;"><a href="#tEXP">50</a></td>
            <td style="padding:0pt;padding-left:10pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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          <tr style="line-height:10pt;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:414pt;text-align:left;">
              <div style="white-space:nowrap;"><a href="#tWHE">WHERE YOU CAN FIND MORE INFORMATION </a></div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:10pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:7.5pt; text-align:right; white-space:nowrap;"><a href="#tWHE">50</a></td>
            <td style="padding:0pt;padding-left:10pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
      </div>
      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">i</div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tABO">&#8203;</a></div>
      <div style="margin-top:46pt;height:660pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:11pt;font-weight:bold;">ABOUT THIS PROSPECTUS </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">This prospectus is part of a registration statement that we filed with the Securities and Exchange Commission, which we refer to as the SEC or the Commission, using a &#8220;shelf&#8221; registration process or continuous offering process. Under this shelf registration process, we may, from time to time, sell any combination of the securities described in this prospectus in one or more offerings and selling securityholders may from time to time offer such securities owned by them. This prospectus provides you with a general description of the securities that may be offered by us and/or selling securityholders. We may also file, from time to time, a prospectus supplement or an amendment to the registration statement of which this prospectus forms a part containing additional information about us and/or selling securityholders and the terms of the offering of the securities. That prospectus supplement or amendment may include additional risk factors or other special considerations applicable to the securities. Any prospectus supplement or amendment may also add, update or change information in this prospectus. If there is any supplement or amendment, you should rely on the information in that prospectus supplement or amendment. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">This prospectus and any accompanying prospectus supplement do not contain all of the information included in the registration statement. For further information, we refer you to the registration statement and any amendments to such registration statement, including its exhibits and schedules. Statements contained in this prospectus and any accompanying prospectus supplement about the provisions or contents of any agreement or other document are not necessarily complete. If the SEC&#8217;s rules and regulations require that an agreement or document be filed as an exhibit to the registration statement, please refer to the actual exhibit for a complete description of these matters. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">You should read both this prospectus and any prospectus supplement together with additional information described below under the heading &#8220;Where You Can Find More Information.&#8221; Federal securities laws and the SEC&#8217;s rules and regulations require us to file reports under the Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;) (including annual, quarterly and current reports) for both Lexington Realty Trust and our guarantor subsidiary, Lepercq Corporate Income Fund&#160;L.P., as further described under the heading &#8220;Where You Can Find More Information.&#8221; </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Information incorporated by reference from filings with the SEC after the date of this prospectus or after the date of any prospectus supplement, or information included in any prospectus supplement or an amendment to the registration statement of which this prospectus forms a part, may add, update or change information included or incorporated by reference in this prospectus or any prospectus supplement. Any statement contained in this prospectus, any prospectus supplement or in any document incorporated by reference will be deemed to be amended, modified or superseded for the purposes of this prospectus to the extent that a statement contained in this prospectus, any prospectus supplement or a later document that is or is considered to be incorporated by reference herein amends, modifies or supersedes such statement. Any statements so amended, modified or superseded will not be deemed to constitute a part of this prospectus, except as so amended, modified or superseded. You should not assume that the information in this prospectus or any prospectus supplement is accurate as of any date other than the date on the respective covers of this prospectus and any such prospectus supplement. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">We have not authorized anyone else to give any information or to make any representation other than those contained or incorporated by reference in this prospectus or any prospectus supplement. You must not rely upon any information or representation not contained or incorporated by reference in this prospectus or any prospectus supplement as if we had authorized it. This prospectus and any prospectus supplement do not constitute an offer to sell or the solicitation of an offer to buy any securities other than the registered securities to which they relate. Nor does this prospectus or any prospectus supplement constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction to any person to whom it is unlawful to make such offer or solicitation in such jurisdiction.</div>
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      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">1</div>
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    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a></div>
      <div style="margin-top:46pt;height:660pt;margin-left:70pt;width:456pt;">
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">All references to the &#8220;Company,&#8221; &#8220;we,&#8221; &#8220;our&#8221; and &#8220;us&#8221; in this prospectus mean Lexington Realty Trust and its consolidated subsidiaries, including Lepercq Corporate Income Fund&#160;L.P. and its consolidated subsidiaries, except as otherwise provided or where it is made clear that the term means only Lexington Realty Trust. All references to &#8220;the operating partnership&#8221; or &#8220;LCIF&#8221; in this prospectus mean Lepercq Corporate Income Fund&#160;L.P. When we use the term &#8220;LXP&#8221; in this prospectus, we are referring to Lexington Realty Trust by itself and not including any of its subsidiaries. References to &#8220;common shares&#8221; or similar references refer to the shares of beneficial interest classified as common stock, par value $0.0001 per share, of LXP, and references to &#8220;OP units&#8221; or similar references refer to the limited partnership&#160;units of LCIF. The term &#8220;you&#8221; refers to a prospective investor.</div>
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      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">2</div>
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    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tCAU">&#8203;</a></div>
      <div style="margin-top:46pt;height:660pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:11pt;font-weight:bold;">CAUTIONARY STATEMENTS CONCERNING FORWARD-LOOKING INFORMATION </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">This prospectus and the information incorporated by reference in this prospectus include &#8220;forward-looking statements&#8221; within the meaning of Section&#160;27A of the Securities Act of 1933, as amended, or the &#8220;Securities Act,&#8221; and Section&#160;21E of the Exchange Act. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and include this statement for purposes of complying with these safe harbor provisions. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, are generally identifiable by use of the words &#8220;believes,&#8221; &#8220;expects,&#8221; &#8220;intends,&#8221; &#8220;anticipates,&#8221; &#8220;estimates,&#8221; &#8220;projects,&#8221; &#8220;may,&#8221; &#8220;plans,&#8221; &#8220;predicts,&#8221; &#8220;will,&#8221; &#8220;will likely result&#8221; or similar expressions. Readers should not rely on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could materially affect actual results, performances or achievements. In particular, among the factors that could cause actual results, performances or achievements to differ materially from current expectations, strategies or plans include, among others: </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">changes in economic conditions generally and the real estate market specifically; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">adverse developments with respect to our tenants; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.97pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.97pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">impairments in the value of our real estate investments; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">failure to consummate the transactions described in this prospectus or the failure of any transactions to perform to our expectations; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">legislative/regulatory/accounting changes, including changes to laws governing and policies and guidelines applicable to the taxation of REITs; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">any material legal proceedings; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.97pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.97pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">availability of debt and equity capital; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">increases in real estate construction costs; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">competition; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">changes in interest rates; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.97pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.97pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">supply and demand for properties in our current and proposed market areas; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">a downgrade in our credit ratings; and </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">the other risk factors set forth in our Annual Report on Form 10-K filed with the SEC on February&#160;27, 2018, the section entitled &#8220;Risk Factors&#8221; beginning on page <a href="#tRIS">5</a> of this prospectus and the other documents incorporated by reference herein, including documents that we file with the SEC in the future that are incorporated by reference herein. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">These risks and uncertainties should be considered in evaluating any forward-looking statements contained or incorporated by reference in this prospectus. We caution you that any forward-looking statement reflects only our belief at the time the statement is made. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee our future results, levels of activity, performance or achievements. Except as required by law, we undertake no obligation to publicly release the results of any revisions to these forward-looking statements which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Accordingly, there is no assurance that our expectations will be realized.</div>
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      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">3</div>
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    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tOUR">&#8203;</a></div>
      <div style="margin-top:46pt;height:660pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:11pt;font-weight:bold;">OUR COMPANY </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">LXP is a REIT formed under the laws of the state of Maryland as a real estate investment trust that owns a diversified portfolio of equity investments in single-tenant commercial properties. A majority of these properties are subject to net or similar leases, where the tenant bears all or substantially all of the costs, including cost increases, for real estate taxes, utilities, insurance and ordinary repairs. However, certain leases provide that the landlord is responsible for certain operating expenses. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">LCIF, our operating partnership, was formed as a limited partnership on March&#160;14, 1986 under the laws of the State of Delaware to invest in existing real estate properties net leased to corporations or other entities. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">The purpose of LCIF includes the conduct of any business that may be conducted lawfully by a limited partnership organized under the Delaware Revised Uniform Limited Partnership Act, or the Delaware Act, except that the partnership agreement of LCIF requires business to be conducted in such a manner that will permit LXP to continue to be classified as a REIT under the Code, unless LXP ceases to qualify as a REIT for reasons other than the conduct of the business of LCIF. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">LXP is the sole equity owner of&#8201; (1)&#160;Lex GP-1 Trust, or Lex GP, a Delaware statutory trust, which is the general partner of LCIF and (2)&#160;Lex LP-1 Trust, or Lex LP, a Delaware statutory trust. LXP, through Lex GP and Lex LP, holds, as of December&#160;31, 2017, approximately, 96.0% of the outstanding OP units in LCIF. The remaining OP units in LCIF are beneficially owned by E. Robert Roskind, Chairman of LXP, and certain non-affiliated investors. As the sole equity owner of the general partner of LCIF, LXP has the ability to control all of the day-to-day operations of LCIF subject to the terms of LCIF&#8217;s partnership agreement. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">The business of LCIF is substantially the same as the business of LXP and includes investment in single-tenant assets, except that LCIF is dependent on LXP for management of its operations and future investments. LCIF does not have any employees, any executive officers or a board of directors. LXP also invests in assets and conducts business directly and through other subsidiaries. LXP allocates investments to itself and its other subsidiaries or to LCIF as it deems appropriate and in accordance with certain obligations under the LCIF partnership agreement with respect to allocations of nonrecourse liabilities. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Neither LXP nor Lex GP receives any compensation for Lex GP&#8217;s services as the general partner of LCIF. Lex GP and Lex LP, however, as partners in LCIF, have the same right to allocations and distributions as other partners of LCIF. In addition, LCIF reimburses Lex GP and LXP for all expenses incurred by them related to the ownership and operation of, or for the benefit of, LCIF. In the event that certain expenses are incurred for the benefit of LCIF and other entities (including LXP and its other subsidiaries), such expenses are allocated by LXP, as sole equity owner of Lex GP, the general partner of LCIF, to LCIF in proportion to gross rental revenue. LXP has guaranteed the obligations of LCIF in connection with the redemption of OP units pursuant to the LCIF partnership agreement. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">The principal executive offices for LXP and LCIF are located at One Penn Plaza, Suite 4015, New&#160;York, New York 10119-4015; our telephone number is (212) 692-7200. </div>
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        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">4</div>
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    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tRIS">&#8203;</a></div>
      <div style="margin-top:46pt;height:660pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:11pt;font-weight:bold;">RISK FACTORS </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Investing in our securities involves risks and uncertainties that could affect us and our business as well as the real estate industry generally. You should carefully consider the risks described and discussed under the caption &#8220;Risk Factors&#8221; included in LXP&#8217;s and LCIF&#8217;s Annual Report on Form 10-K for the fiscal year ended December&#160;31, 2017, filed on February&#160;27, 2018, which is incorporated by reference in this prospectus, and in any other documents incorporated by reference in this prospectus, including without limitation any updated risks included in our subsequent periodic reports incorporated by reference herein. These risks could materially affect our business, results of operations or financial condition and cause the value of our securities to decline. You could lose all or part of your investment. These risk factors may be amended, supplemented or superseded from time to time by risk factors contained in any prospectus supplement or post-effective amendment we may file or in other reports we file with the Commission in the future. In addition, new risks may emerge at any time and we cannot predict such risks or estimate the extent to which they may affect our financial performance. </div>
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      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">5</div>
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    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tUSE">&#8203;</a></div>
      <div style="margin-top:46pt;height:660pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:11pt;font-weight:bold;">USE OF PROCEEDS </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Unless otherwise described in any applicable prospectus supplement, we intend to use the net proceeds from our sale of the securities for general corporate purposes, which may include the repayment of outstanding indebtedness, the improvement of certain properties already in our portfolio or the acquisition of additional assets. Unless otherwise described in any applicable prospectus supplement, we will not receive the proceeds of sales by selling securityholders, if any. Further details relating to the use of net proceeds from any specific offering will be described in the applicable prospectus supplement.</div>
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      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">6</div>
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    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tRAT">&#8203;</a></div>
      <div style="margin-top:46pt;height:660pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:11pt;font-weight:bold;">RATIOS OF EARNINGS TO FIXED CHARGES AND EARNINGS TO <br >COMBINED FIXED CHARGES AND PREFERRED SHARE DIVIDENDS </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">The following table sets forth the ratios of earnings to combined fixed charges and preferred share dividends of LXP and LCIF for each of the last five fiscal&#160;years. The ratios of earnings to combined fixed charges and preferred share dividends were computed by dividing earnings by fixed charges and preferred share dividends. For these purposes, &#8220;earnings&#8221; consist of income (loss) before provision for income taxes, noncontrolling interest, equity in earnings (losses) of non-consolidated entities and discontinued operations, plus fixed charges (excluding capitalized interest) and cash received from joint ventures. &#8220;Fixed charges&#8221; consist of interest expense, including capitalized interest and the amortization expense on debt issuance costs. This information is given on an historical basis. </div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-weight:bold;">LXP: </div>
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            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:210pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:0pt;text-align:center;" colspan="28">
              <div style="white-space:nowrap; text-align:center;">Year Ended December&#160;31, </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:210pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">2017 </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">2016 </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">2015 </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">2014 </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">2013 </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:1.917pt 0pt 2.5pt 0pt; width:210pt;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;font-weight:bold;">Ratio of Earnings to Combined Fixed Charges and <br >Preferred Share Dividends<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font> </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.145pt;width:0pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 2.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.917pt 0pt 2.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">1.96</td>
            <td style="padding:0pt;padding-left:9.145pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.145pt;width:0pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 2.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.917pt 0pt 2.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">1.80</td>
            <td style="padding:0pt;padding-left:9.145pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.145pt;width:0pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 2.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.917pt 0pt 2.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">2.00</td>
            <td style="padding:0pt;padding-left:9.145pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.145pt;width:0pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 2.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.917pt 0pt 2.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">1.37</td>
            <td style="padding:0pt;padding-left:9.145pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.63pt;width:0pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 2.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:1.917pt 0pt 2.5pt 0pt; min-width:12.75pt; text-align:right; white-space:nowrap;">N/A</td>
            <td style="padding:0pt;padding-left:11.63pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:14.48pt; width:456pt;">
          <div style="margin-left: 0pt; width: 108pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style=" float:left; margin-top:11.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(1)<br ></div>
        <div style=" float:left; margin-top:11.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:435.5pt;">Ratio is below 1.0, deficit of&#8201; $28.9&#160;million existed at December&#160;31, 2013. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <table style="width:456pt;height:37pt;margin-top:8pt;border-collapse: collapse;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:210pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:0pt;text-align:center;" colspan="28">
              <div style="white-space:nowrap; text-align:center;">Year Ended December&#160;31, </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:210pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">2017 </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">2016 </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">2015 </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">2014 </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">2013 </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:3.25pt 0pt 2.5pt 0pt; width:210pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">Ratio of Earnings to Fixed Charges<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font></div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.145pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">2.12</td>
            <td style="padding:0pt;padding-left:9.145pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.145pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">1.93</td>
            <td style="padding:0pt;padding-left:9.145pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.145pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">2.13</td>
            <td style="padding:0pt;padding-left:9.145pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.145pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">1.46</td>
            <td style="padding:0pt;padding-left:9.145pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:11.63pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt; min-width:12.75pt; text-align:right; white-space:nowrap;">N/A</td>
            <td style="padding:0pt;padding-left:11.63pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:14.49pt; width:456pt;">
          <div style="margin-left: 0pt; width: 108pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style=" float:left; margin-top:11.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(1)<br ></div>
        <div style=" float:left; margin-top:11.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:435.5pt;">Ratio is below 1.0, deficit of&#8201; $19.1&#160;million existed at December&#160;31, 2013. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-weight:bold;">LCIF: </div>
        <table style="width:456pt;height:37pt;margin-top:7pt;border-collapse: collapse;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:left;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:210pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:0pt;text-align:center;" colspan="28">
              <div style="white-space:nowrap; text-align:center;">Year Ended December&#160;31, </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:8pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:0pt 0pt 0.5pt 0pt; width:210pt;text-align:left;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">2017 </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">2016 </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">2015 </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">2014 </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:3.25pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">2013 </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:3.25pt 0pt 2.5pt 0pt; width:210pt;text-align:left;">
              <div style="white-space:nowrap;font-weight:bold;">Ratio of Earnings to Fixed Charges<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font></div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.145pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">1.18</td>
            <td style="padding:0pt;padding-left:9.145pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:8.63pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt; min-width:12.75pt; text-align:right; white-space:nowrap;">N/A</td>
            <td style="padding:0pt;padding-left:8.63pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.145pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">2.43</td>
            <td style="padding:0pt;padding-left:9.145pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.145pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">2.43</td>
            <td style="padding:0pt;padding-left:9.145pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:12.145pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt; min-width:0pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt; min-width:13.5pt; text-align:right; white-space:nowrap;">1.70</td>
            <td style="padding:0pt;padding-left:12.145pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:14.49pt; width:456pt;">
          <div style="margin-left: 0pt; width: 108pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style=" float:left; margin-top:11.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(1)<br ></div>
        <div style=" float:left; margin-top:11.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:435.5pt;">Ratio is below 1.0, deficit of&#8201; $4.8 million existed at December&#160;31, 2016. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="clear:both;font-size:0pt;">&#8203;</div>
      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">7</div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tDES">&#8203;</a></div>
      <div style="margin-top:46pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:11pt;font-weight:bold;">DESCRIPTION OF OUR COMMON SHARES </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;font-style:italic;">The following summary of the material terms and provisions of our common shares does not purport to be complete and is subject to the detailed provisions of our Declaration of Trust and our By-Laws, each as supplemented, amended or restated, and each of which is incorporated by reference into this prospectus. You should carefully read each of these documents in order to fully understand the terms and provisions of our common shares. For information on incorporation by reference, and how to obtain copies of these documents, see the section entitled &#8220;Where You Can Find More Information&#8221; in this prospectus<font style="font-style:normal;">. </font></div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">This summary is also subject to and qualified by reference to the descriptions of the particular terms of our securities described in the applicable prospectus supplement. </div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-weight:bold;">General </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Under our Declaration of Trust, we have the authority to issue up to 1,000,000,000 shares of beneficial interest, par value $0.0001 per share, of which 400,000,000 shares are classified as common shares, 500,000,000 are classified as excess stock, or excess shares, and 100,000,000 shares are classified as preferred shares. As of February&#160;22, 2018, we had issued and outstanding 240,767,878 common shares. </div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-weight:bold;">Terms </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Subject to the preferential rights of any other shares or class or series of our equity securities and to the provisions of our Declaration of Trust regarding excess shares, holders of common shares are entitled to receive dividends on such common shares if, as and when authorized by our board of trustees and declared by us out of assets legally available therefor and to share ratably in those of our assets legally available for distribution to our shareholders in the event that we liquidate, dissolve or wind up, after payment of, or adequate provision for, all of our known debts and liabilities and the amount to which holders of any class of shares having a preference on distributions in liquidation, dissolution or winding up of us will be entitled. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Subject to the provisions of our Declaration of Trust regarding excess shares, each outstanding common share entitles the holder to one vote on all matters submitted to a vote of shareholders, including the election of trustees and, except as otherwise required by law or except as otherwise provided in our Declaration of Trust with respect to any other class or series of shares, the holders of common shares will possess exclusive voting power. In uncontested elections of trustees at a meeting duly called at which a quorum is present, the affirmative vote of a majority of the total votes cast by shareholders entitled to vote is sufficient to elect a trustee nominee. In contested elections at a meeting duly called at which a quorum is present, a plurality of votes cast by shareholders entitled to vote is required for the election of a trustee. A&#160;majority of the votes cast means that the number of shares voted &#8220;for&#8221; a trustee nominee must exceed the number of votes cast &#8220;against&#8221; or &#8220;withheld&#8221; with respect to such trustee nominee. Votes &#8220;against&#8221; or &#8220;withheld&#8221; with respect to a nominee will count as votes cast with respect to that nominee, but &#8220;abstentions&#8221; and broker non-votes with respect to that nominee will not count as votes cast with respect to that nominee. There is no cumulative voting in the election of trustees, which means that the holders of a majority of our outstanding common shares can elect all of the trustees then standing for election, and the holders of the remaining common shares will not be able to elect any trustees. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Subject to the provisions of our Declaration of Trust regarding excess shares, holders of common shares have no conversion, sinking fund or redemption rights or preemptive rights to subscribe for any of our securities. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">We furnish our shareholders with annual reports containing audited consolidated financial statements and an opinion thereon expressed by an independent registered public accounting firm. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Subject to the provisions of our Declaration of Trust regarding excess shares, all of the common shares have equal dividend, distribution, liquidation and other rights and generally have no preference, appraisal or exchange rights.</div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-weight:bold;">Restrictions on Ownership </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">For us to qualify as a REIT under the Code, among other things, not more than 50% in value of its outstanding shares of capital stock may be owned, directly or indirectly, by five or fewer individuals (as </div>
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      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">8</div>
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      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a></div>
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        <div style="width:456pt; line-height:12pt;">defined in the Code to include certain entities) during the last half of a taxable year. To assist us in meeting this requirement, among other purposes, our Declaration of Trust contains restrictions on the ownership and transfer of our shares. See &#8220;Restrictions on Transfers of Shares of Capital Stock and Anti-Takeover Provisions.&#8221; </div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-weight:bold;">Transfer Agent </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">As of the date of this prospectus, the transfer agent and registrar for the common shares is Computershare Shareowner Services, or Computershare.</div>
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        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">9</div>
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    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tDES1">&#8203;</a></div>
      <div style="margin-top:46pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:11pt;font-weight:bold;">DESCRIPTION OF OUR PREFERRED SHARES </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;font-style:italic;">The following summary of the material terms and provisions of our preferred shares does not purport to be complete and is subject to the detailed provisions of our Declaration of Trust (including any applicable articles supplementary, amendment or annex to our Declaration of Trust designating the terms of a series of preferred shares) and our By-Laws, each as supplemented, amended or restated, and each of which is incorporated by reference into this prospectus. You should carefully read each of these documents in order to fully understand the terms and provisions of our preferred shares. For information on incorporation by reference, and how to obtain copies of these documents, see the section entitled &#8220;Where You Can Find More Information&#8221; in this prospectus<font style="font-style:normal;">. </font></div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-weight:bold;">General </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Under our Declaration of Trust, we have the authority to issue up to 100,000,000 preferred shares, of which 3,100,000 shares are classified as Series&#160;C Preferred Shares. As of the date of this prospectus, we have issued and outstanding 1,935,400 Series&#160;C Preferred Shares and have no other outstanding series of preferred shares. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Subject to limitations prescribed by Maryland law and our Declaration of Trust, our board of trustees is authorized to classify and reclassify any unissued shares and to set the number of shares constituting each class or series of preferred shares and the terms, preferences, conversion or other rights, voting powers, restrictions, limitations as to dividends or other distributions, qualifications and terms or conditions of redemption. The preferred shares will, when issued against payment therefor, be fully paid and nonassessable and will not be subject to preemptive rights, unless determined by our board of trustees. Our board of trustees could authorize the issuance of preferred shares with terms and conditions that could have the effect of discouraging a takeover or other transaction that holders of common shares might believe to be in their best interests or in which holders of common shares might receive a premium for their common shares over the then-current market price of their shares. </div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-weight:bold;">Terms </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Reference is made to the applicable prospectus supplement relating to the preferred shares offered thereby for specific terms, including: </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.4pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(1)<br ></div>
        <div style=" float:left; margin-top:6.4pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">the title and stated value of the preferred shares; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.4pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(2)<br ></div>
        <div style=" float:left; margin-top:6.4pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">the number of preferred shares offered, the liquidation preference per share and the offering price of the preferred shares; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.39pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(3)<br ></div>
        <div style=" float:left; margin-top:6.39pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">the voting rights, if any, of the holders of the preferred shares; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.4pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(4)<br ></div>
        <div style=" float:left; margin-top:6.4pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">the dividend rate(s), period(s) and/or payment date(s) or method(s) of calculation thereof applicable to the preferred shares; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.6pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(5)<br ></div>
        <div style=" float:left; margin-top:6.6pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">the date from which dividends on the preferred shares will accumulate, if applicable; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.6pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(6)<br ></div>
        <div style=" float:left; margin-top:6.6pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">the provisions for a sinking fund, if any, for the preferred shares; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.59pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(7)<br ></div>
        <div style=" float:left; margin-top:6.59pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">the provisions for redemption, if applicable, of the preferred shares; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.6pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(8)<br ></div>
        <div style=" float:left; margin-top:6.6pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">any listing of the preferred shares on any securities exchange; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.59pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(9)<br ></div>
        <div style=" float:left; margin-top:6.59pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">the terms and conditions, if applicable, upon which the preferred shares will be convertible into common shares, including the conversion price (or manner of calculation thereof); </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.6pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(10)<br ></div>
        <div style=" float:left; margin-top:6.6pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">a discussion of material federal income tax considerations applicable to the preferred shares; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.6pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(11)<br ></div>
        <div style=" float:left; margin-top:6.6pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">the relative ranking and preferences of the preferred shares as to dividend rights and rights upon our liquidation, dissolution or winding-up of our affairs; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.59pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(12)<br ></div>
        <div style=" float:left; margin-top:6.59pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">any limitations on issuance of any series of preferred shares ranking senior to or on a parity with the preferred shares as to dividend rights and rights upon our liquidation, dissolution or winding-up of our affairs; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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      <div style="clear:both;font-size:0pt;">&#8203;</div>
      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">10</div>
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    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a></div>
      <div style="margin-top:46pt;margin-left:70pt;width:456pt;">
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:4pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(13)<br ></div>
        <div style=" float:left; margin-top:4pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">any limitations on direct or beneficial ownership of our securities and restrictions on transfer of our securities, in each case as may be appropriate to preserve our status as a REIT; and </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(14)<br ></div>
        <div style=" float:left; margin-top:8.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">any other specific terms, preferences, rights, limitations or restrictions of the preferred shares. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-weight:bold;">Rank </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Unless otherwise specified in the applicable prospectus supplement, the preferred shares rank, with respect to dividend rights and rights upon our liquidation, dissolution or winding-up: (i)&#160;senior to all classes or series of common shares, and to all equity securities ranking junior to the preferred shares; (ii) on a parity with all equity securities the terms of which specifically provide that such equity securities rank on a parity with the preferred shares; and (iii) junior to all equity securities the terms of which specifically provide that such equity securities rank senior to the preferred shares. As used in this prospectus, the term &#8220;equity securities&#8221; does not include convertible debt securities. </div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-weight:bold;">Dividends </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Subject to any preferential rights of any outstanding securities or series of securities, the holders of preferred shares will be entitled to receive dividends, when, as and if authorized by our board of trustees and declared by us, out of assets legally available for payment. Dividends will be paid at such rates and on such dates as will be set forth in the applicable prospectus supplement. Dividends will be payable to the holders of record of preferred shares as they appear on our share transfer books at the close of business on the applicable record dates fixed by our board of trustees. Dividends on any series of our preferred shares may be cumulative or non-cumulative, as provided in the applicable prospectus supplement. </div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-weight:bold;">Redemption </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">If so provided in the applicable prospectus supplement, the preferred shares offered thereby will be subject to mandatory redemption or redemption at our option, as a whole or in part, in each case upon the terms and conditions, at the times and at the redemption prices set forth in such prospectus supplement. </div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-weight:bold;">Liquidation Preference </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Unless otherwise specified in the applicable prospectus supplement, upon any voluntary or involuntary liquidation, dissolution or winding-up of our affairs, and before any distribution or payment will be made to the holders of any common shares or any other class or series of shares ranking junior to our preferred shares as to rights upon our liquidation, dissolution or winding up, the holders of our preferred shares will be entitled to receive, after payment or provision for payment of our debts and other liabilities, out of our assets legally available for distribution to shareholders, liquidating distributions in the amount of the liquidation preference per share, if any, set forth in the applicable prospectus supplement, plus an amount equal to all dividends accrued and unpaid thereon, which will not include any accumulation in respect of unpaid noncumulative dividends for prior dividend periods. After payment of the full amount of the liquidating distributions to which they are entitled, the holders of preferred shares will have no right or claim to any of our remaining assets. In the event that, upon any such voluntary or involuntary liquidation, dissolution or winding-up of our affairs, the legally available assets are insufficient to pay the amount of the liquidating distributions on all of our outstanding preferred shares and the corresponding amounts payable on all of our other outstanding equity securities ranking on a parity with the preferred shares in the distribution of assets upon our liquidation, dissolution or winding-up of our affairs, then the holders of our preferred shares and the holders of such other outstanding equity securities will share ratably in any such distribution of assets in proportion to the full liquidating distributions to which they would otherwise be respectively entitled. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">If liquidating distributions are made in full to all holders of our preferred shares, our remaining assets will be distributed among the holders of any other classes or series of equity securities ranking junior to the preferred shares in the distribution of assets upon our liquidation, dissolution or winding-up of our affairs, according to their respective rights and preferences and in each case according to their respective number of shares. </div>
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      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">11</div>
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      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a></div>
      <div style="margin-top:46pt;margin-left:70pt;width:456pt;">
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">If we consolidate, convert or merge with or into, or sell, lease or convey all or substantially all of our property or business to, any corporation, trust or other entity, such transaction will not be deemed to constitute a liquidation, dissolution or winding-up of our affairs. </div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-weight:bold;">Voting Rights </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Unless otherwise from time to time required by law, or as otherwise indicated in the applicable prospectus supplement, holders of our preferred shares will not have any voting rights. </div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-weight:bold;">Conversion Rights </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">The terms and conditions, if any, upon which our preferred shares are convertible into common shares will be set forth in the applicable prospectus supplement. Such terms will include the number of common shares into which the preferred shares are convertible, the conversion price (or manner of calculation thereof), the conversion period, provisions as to whether conversion will be at the option of the holders of the preferred shares or at our option, the events requiring an adjustment of the conversion price and provisions affecting conversion in the event of the redemption of such preferred shares. </div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-weight:bold;">Restrictions on Ownership </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">For us to qualify as a REIT under the Code, among other things, not more than 50% in value of our outstanding shares of capital stock may be owned, directly or indirectly, by five or fewer individuals (as defined in the Code to include certain entities) during the last half of a taxable year. To assist us in meeting this requirement, among other purposes, our Declaration of Trust contains restrictions on the ownership and transfer of our shares, including our preferred shares, and the prospectus supplement relating to a class or series of preferred shares may contain additional provisions restricting the ownership and transfer of such class or series of preferred shares. See &#8220;Restrictions on Transfers of Capital Stock and Anti-Takeover Provisions.&#8221; </div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-weight:bold;">Transfer Agent </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">As of the date of this prospectus, the transfer agent and registrar for our Series&#160;C Preferred Shares is Computershare. The transfer agent and registrar for our other series of preferred shares will be set forth in the applicable prospectus supplement. </div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-weight:bold;">Terms of Our 6.50% Series&#160;C Cumulative Convertible Preferred Stock </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;"><font style="font-style:italic;font-weight:bold;">General.</font>&nbsp;&nbsp;&nbsp;In December&#160;2004 and January&#160;2005, we sold an aggregate 3,100,000 Series&#160;C Preferred Shares. The Series&#160;C Preferred Shares are convertible into common shares and are listed on the New York Stock Exchange under the symbol &#8220;LXPPRC.&#8221; As of the date of this prospectus, 1,935,400 Series&#160;C Preferred Shares remain outstanding. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;"><font style="font-style:italic;font-weight:bold;">Dividends.</font>&nbsp;&nbsp;&nbsp;Subject to the preferential rights of the holders of any class or series of shares ranking senior to the Series&#160;C Preferred Shares as to dividends, the holders of the Series&#160;C Preferred Shares are entitled to receive, when, as and if authorized by the board of trustees and declared by us, out of funds legally available for the payment of dividends, cumulative cash dividends at a rate of 6.50% per annum of the $50.00 liquidation preference per share (equivalent to $3.25 per year per share). </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;"><font style="font-style:italic;font-weight:bold;">Liquidation Preference.</font>&nbsp;&nbsp;&nbsp;Upon any voluntary or involuntary liquidation, dissolution or winding up of the affairs of us, holders of the Series&#160;C Preferred Shares (and of the excess shares converted from Series&#160;C Preferred Shares, if any) will have the right to be paid out of our assets legally available for distribution to our shareholders $50.00 per share, plus accrued and unpaid dividends (whether or not declared) to and including the date of payment, before any payments are made to the holders of common shares and any other shares ranking junior to the Series&#160;C Preferred Shares as to liquidation rights. The rights of the holders of the Series&#160;C Preferred Shares to receive their liquidation preference will be subject to the proportionate rights of each other series or class of our capital shares ranking, as to liquidation rights, on a parity with the Series&#160;C Preferred Shares. The consolidation or merger of LXP with or into any other trust, corporation or entity, or the sale, lease, transfer or conveyance of all or substantially all of our property or business, will not be deemed to constitute a liquidation, dissolution or winding up of the affairs of us. </div>
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        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">12</div>
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      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a></div>
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        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;"><font style="font-style:italic;font-weight:bold;">Redemption.</font>&nbsp;&nbsp;&nbsp;We may not redeem the Series&#160;C Preferred Shares unless necessary to preserve our status as a REIT. </div>
        <div style="text-indent:20pt; margin-top:5.81pt; width:456pt; line-height:12pt;"><font style="font-style:italic;font-weight:bold;">Conversion Rights.</font>&nbsp;&nbsp;&nbsp;The Series&#160;C Preferred Shares may be converted by the holder, at its option (the &#8220;Optional Conversion&#8221;), into common shares, at a conversion rate of 2.4339 common shares per $50.00 liquidation preference, as of the date of this prospectus, which is equivalent to a conversion price of approximately $20.54 per common share (subject to adjustment in certain events). </div>
        <div style="text-indent:20pt; margin-top:5.62pt; width:456pt; line-height:12pt;"><font style="font-style:italic;font-weight:bold;">Company Conversion Option.</font>&nbsp;&nbsp;&nbsp;We may, at our option, cause the Series&#160;C Preferred Shares to be automatically converted into that number of common shares that are issuable at the then prevailing conversion rate (the &#8220;Company Conversion Option&#8221;) in the following circumstances. We may exercise our conversion right only if, for at least twenty (20) trading days within any period of thirty (30) consecutive trading days (including the last trading day of such period), the closing price of the common shares equals or exceeds 125% of the then prevailing conversion price of the Series&#160;C Preferred Shares. In addition, if there are fewer than 25,000 Series&#160;C Preferred Shares outstanding, we may, at our option, cause all of the outstanding Series&#160;C Preferred Shares to be automatically converted into that number of common shares equal to $50.00 divided by the lesser of the then prevailing conversion price and the current market price for the five trading day period ending on the second trading day immediately prior to the conversion date. </div>
        <div style="text-indent:20pt; margin-top:5.61pt; width:456pt; line-height:12pt;"><font style="font-style:italic;font-weight:bold;">Settlement.</font>&nbsp;&nbsp;&nbsp;Upon conversion (whether pursuant to an Optional Conversion or the Company Conversion Option), we may choose to deliver the conversion value to investors in cash, common shares or a combination of cash and common shares. </div>
        <div style="text-indent:20pt; margin-top:5.61pt; width:456pt; line-height:12pt;">We can elect at any time to obligate ourselves to satisfy solely in cash, the portion of the conversion value that is equal to 100% of the liquidation preference amount of the Series&#160;C Preferred Shares, with any remaining amount of the conversion value to be satisfied in cash, common shares or a combination of cash and common shares. If we elect to do so, we will notify holders at any time that we intend to settle in cash the portion of the conversion value that is equal to the liquidation preference amount of the Series&#160;C Preferred Shares. This notification, once provided to holders, will be irrevocable and will apply to future conversions of the Series&#160;C Preferred Shares even if the shares cease to be convertible but subsequently become convertible again. </div>
        <div style="text-indent:20pt; margin-top:5.62pt; width:456pt; line-height:12pt;"><font style="font-style:italic;font-weight:bold;">Payment of Dividends Upon Conversion.</font>&nbsp;&nbsp;&nbsp;With respect to an Optional Conversion, upon delivery of the Series&#160;C Preferred Shares for conversion, those Series&#160;C Preferred Shares will cease to accumulate dividends as of the end of the day immediately preceding the conversion date and a holder of such converted Series&#160;C Preferred Shares will not receive any cash payment representing accrued and unpaid dividends on the Series&#160;C Preferred Shares, whether or not in arrears, except in certain limited circumstances. With respect to the Company Conversion Option, a holder of such converted Series&#160;C Preferred Shares will receive a cash payment for all unpaid dividends in arrears. If we exercise the Company Conversion Option and the conversion date is on or after the record date for payment of dividends and before the corresponding dividend payment date, such holder will also receive a cash payment for the dividend payable for such period. If we exercise the Company Conversion Option and the conversion date is prior to the record date for payment of dividends, such holder will not receive payment for any portion of the dividend payable for such period. </div>
        <div style="text-indent:20pt; margin-top:5.61pt; width:456pt; line-height:12pt;"><font style="font-style:italic;font-weight:bold;">Conversion Rate Adjustments.</font>&nbsp;&nbsp;&nbsp;The conversion rate is subject to adjustment upon the occurrence of certain events, including if we distribute in any quarter to all or substantially all holders of common shares, any cash, including quarterly cash dividends, in excess of an amount per common share (subject to adjustment), which is currently approximately $0.38. </div>
        <div style="text-indent:20pt; margin-top:5.61pt; width:456pt; line-height:12pt;"><font style="font-style:italic;font-weight:bold;">Fundamental Change.</font>&nbsp;&nbsp;&nbsp;Upon the occurrence of certain fundamental changes in LXP, a holder may require us to purchase for cash all or part of its Series&#160;C Preferred Shares at a price equal to 100% of their liquidation preference plus accrued and unpaid dividends, if any, up to, but not including, the fundamental change purchase date. </div>
        <div style="text-indent:20pt; margin-top:5.62pt; width:456pt; line-height:12pt;"><font style="font-style:italic;font-weight:bold;">Rank.</font>&nbsp;&nbsp;&nbsp;With respect to the payment of dividends and amounts upon liquidation, dissolution or winding up, the Series&#160;C Preferred Shares rank (i)&#160;senior to all classes or series of common shares and to all equity securities ranking junior to the Series&#160;C Preferred Shares, (ii) on a parity with all equity securities the terms of which specifically provide that such equity securities rank on a parity with the Series&#160;C Preferred Shares, and (iii) junior to all equity securities the terms of which specifically provide that such equity securities rank senior to the Series&#160;C Preferred Shares. </div>
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        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">13</div>
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      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a></div>
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        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;"><font style="font-style:italic;font-weight:bold;">Voting Rights.</font>&nbsp;&nbsp;&nbsp;Holders of the Series&#160;C Preferred Shares generally have no voting rights. However, if we do not pay dividends on the Series&#160;C Preferred Shares for six or more quarterly periods (whether or not consecutive), the holders of the Series&#160;C Preferred Shares voting together as a class with all other classes or series of our equity securities ranking on parity with the Series&#160;C Preferred Shares which are entitled to similar voting rights, will be entitled to vote at the next annual meeting of our shareholders and at each subsequent annual meeting for the election of two additional trustees to serve on our board of trustees until all unpaid cumulative dividends have been paid or declared and set apart for payment. The holders of Series&#160;C Preferred Shares and all other classes or series of our equity securities ranking on parity with the Series&#160;C Preferred Shares which are entitled to similar voting rights will be entitled to one vote per $25.00 of liquidation preference (i.e., two votes for each Series&#160;C Preferred Share). In addition, the affirmative vote of at least two-thirds of the Series&#160;C Preferred Shares, and all other classes or series of our equity securities ranking on parity with the Series&#160;C Preferred Shares which are entitled to similar voting rights, voting together as a class, is required for us (i)&#160;to authorize, create or increase the authorized or issued amount of any class or series of shares ranking senior to the Series&#160;C Preferred Shares with respect to payment of dividends or the distribution of assets upon liquidation, dissolutions or winding up of our affairs or (ii) to amend our Declaration of Trust (whether by merger, consolidation, transfer or conveyance of all or substantially all of its assets or otherwise) in a manner that materially and adversely affects the rights of the Series&#160;C Preferred Shares; provided, however, with respect to the occurrence of any event described in clause (ii) above, so long as the Series&#160;C Preferred Shares remain outstanding with the terms thereof materially unchanged (taking into account that, upon the occurrence of such an event, we may not be the surviving entity), the occurrence of such an event will not be deemed to materially and adversely affect the rights of the Series&#160;C Preferred Shares and holders of Series&#160;C Preferred Shares will not have any voting rights with respect to the occurrence of the event or the holders thereof.</div>
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        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">14</div>
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      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tDES2">&#8203;</a></div>
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        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:11pt;font-weight:bold;">DESCRIPTION OF OUR DEBT SECURITIES AND RELATED GUARANTEES </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;font-style:italic;">The following description contains general terms and provisions of the debt securities and, as applicable, related guarantees to which any prospectus supplement may relate<font style="font-style:normal;">. </font>The particular terms of the debt securities and related guarantees offered by any prospectus supplement and the extent, if any, to which such general provisions may not apply to the debt securities so offered will be described in the prospectus supplement relating to such debt securities and related guarantees. For more information, please refer to the senior indentures we have entered into with U.S. Bank National Association, as trustee, relating to the issuance of the senior notes, and the subordinated indenture we will enter into with a trustee to be selected, relating to issuance of the subordinated notes. Forms of these documents are filed as exhibits to the registration statement, which includes this prospectus. Any such notes may or may not be guaranteed by one or more of our Subsidiaries.</div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;font-style:italic;">As used in this prospectus, the term indentures refers to both the senior indentures and the subordinated indenture. The senior indenture is and the subordinated indenture will be qualified under and governed by the Trust Indenture Act. As used in this prospectus, the term trustee refers to either the senior trustee or the subordinated trustee, as applicable<font style="font-style:normal;">. </font></div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;font-style:italic;">The following are summaries of material provisions of the senior indenture and provisions that are anticipated to be included in the senior indentures and the subordinated indenture. As summaries, they do not purport to be complete or restate the indentures in their entirety and are subject to, and qualified in their entirety by reference to, all provisions of the indentures and the debt securities and related guarantees. We urge you to read the indentures applicable to a particular series of debt securities because they, and not this description, define your rights as the holders of the debt securities and related guarantees. Except as otherwise indicated, the terms of the senior indenture and the subordinated indenture are identical<font style="font-style:normal;">. </font></div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-weight:bold;">Debt Securities </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Reference is made to the applicable prospectus supplement for the following terms of the debt securities (if applicable): </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:6.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">title and aggregate principal amount; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.79pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:6.79pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">whether the securities are subject to subordination and applicable subordination provisions, if any; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:6.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">conversion or exchange into any securities or property; </div>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.79pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:6.79pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">percentage or&#160;percentages of principal amount at which such securities will be issued; </div>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:6.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">issuance date; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.79pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:6.79pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">maturity date(s); </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:6.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">interest rate(s) or the method for determining the interest rate(s); </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.79pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:6.79pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">dates on which interest will accrue or the method for determining dates on which interest will accrue and dates on which interest will be payable; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:6.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">whether interest will be payable in cash or in additional debt securities of the same series, or will accrue and increase the aggregate principal amount outstanding of such series (including if the debt securities were originally issued at a discount); </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.79pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:6.79pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">redemption or early repayment provisions; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:7pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">authorized denominations; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.99pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:6.99pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">form; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:7pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">amount of discount or premium, if any, with which such securities will be issued; </div>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.99pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:6.99pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">whether such securities will be issued in whole or in part in the form of one or more global securities; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:7pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">identity of the depositary(ies) for global securities; </div>
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      <div style="clear:both;font-size:0pt;">&#8203;</div>
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        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">15</div>
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      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a></div>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:4pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:4pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">whether a temporary security is to be issued with respect to such series and whether any interest payable prior to the issuance of definitive securities of the series will be credited to the account of the persons entitled thereto; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">the terms upon which beneficial interests in a temporary global security may be exchanged in whole or in part for beneficial interests in a definitive global security or for individual definitive securities; </div>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.97pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.97pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">any covenants applicable to the particular debt securities being issued; </div>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">any defaults and events of default applicable to the particular debt securities being issued; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">currency, currencies or currency&#160;units in which the purchase price for, the principal of and any premium and any interest on such securities will be payable; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">securities exchange(s) on which the securities will be listed, if any; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.97pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.97pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">our obligation or right to redeem, purchase or repay securities under a sinking fund, amortization or analogous provision; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">provisions relating to covenant defeasance and legal defeasance of securities of the series; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">provisions relating to satisfaction and discharge of the indenture; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">provisions relating to the modification of the indenture both with and without the consent of holders of debt securities issued under the indenture; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.97pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.97pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">provisions, if any, granting special rights upon the occurrence of specified events; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">any restriction of transferability of the series; and </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">additional terms not inconsistent with the provisions of the indenture. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">In addition, the applicable prospectus supplement will describe whether any underwriter will act as a market maker for the securities, and the extent to which a secondary market for the securities is or is not expected to develop. </div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-weight:bold;">General </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">The debt securities may consist of debentures, notes, bonds or other types of indebtedness. One or more series of debt securities may be sold at a substantial discount below its stated principal amount, bearing no interest or interest at a rate which at the time of issuance is below market rates. One or more series of debt securities may be variable rate debt securities that may be exchanged for fixed rate debt securities. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">United States federal income tax consequences and special considerations, if any, applicable to any such series will be described in the applicable prospectus supplement. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Debt securities may be issued where the amount of principal and/or interest payable is determined by reference to one or more currency or other indices or other formulas. Holders of such securities may receive a principal amount or a payment of interest that is greater than or less than the amount of principal or interest otherwise payable on such dates, depending upon the value of the applicable currency or other reference factor. Information as to the methods for determining the amount of principal or interest, if any, payable on any date, the currency or other reference factor to which the amount payable on such date is linked and certain additional United States federal income tax considerations will be set forth in the applicable prospectus supplement. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">The term &#8220;debt securities&#8221; includes debt securities denominated in U.S. dollars or, if specified in the applicable prospectus supplement, in any other freely transferable currency or currency unit. </div>
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      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">16</div>
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      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a></div>
      <div style="margin-top:46pt;margin-left:70pt;width:456pt;">
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">We expect most debt securities to be issued in fully registered form without coupons and in denominations of&#8201; $1,000 and any integral multiples thereof. Subject to the limitations provided in the indenture and in the applicable prospectus supplement, debt securities that are issued in registered form may be transferred or exchanged at the corporate office of the trustee or the principal corporate trust office of the trustee, without the payment of any service charge, other than any tax or other governmental charge payable in connection therewith. </div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-weight:bold;">Global Securities </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">The debt securities of a series may be issued in whole or in part in the form of one or more global securities that will be deposited with, or on behalf of, a depositary identified in the applicable prospectus supplement. Global securities will be issued in registered form and in either temporary or definitive form. Unless and until it is exchanged in whole or in part for the individual debt securities, a global security may not be transferred except as a whole by the depositary for such global security to a nominee of such depositary or by a nominee of such depositary to such depositary or another nominee of such depositary or by such depositary or any such nominee to a successor of such depositary or a nominee of such successor. The specific terms of the depositary arrangement with respect to any debt securities of a series and the rights of and limitations upon owners of beneficial interests in a global security will be described in the applicable prospectus supplement. </div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-weight:bold;">Guarantees </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Each prospectus supplement will describe guarantees of debt securities for the benefit of the series of debt securities to which they relate, if any guarantees will be offered for a particular series of debt. If so provided in a prospectus supplement, the debt securities will be guaranteed by each of the guarantors named in such prospectus supplement. The obligations of a guarantor under its guarantee will be limited to the extent necessary to prevent the obligations of such guarantor from constituting a fraudulent conveyance or fraudulent transfer under federal or state law. </div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-weight:bold;">Governing Law </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">The indentures and the debt securities will be construed in accordance with and governed by the laws of the State of New York. </div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-weight:bold;">4.25% Senior Notes due 2023 </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">On June&#160;10, 2013, we issued $250.0&#160;million aggregate principal amount of our 4.25% Senior Notes due 2023, which we refer to as the &#8220;2023 Notes.&#8221; The 2023 Notes were issued by us at an initial offering price of 99.026% of their face value. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">The terms of the 2023 Notes are governed by an indenture, dated as of June&#160;10, 2013, as supplemented by the first supplemental indenture, dated September&#160;30, 2013, which we collectively refer to as the 2023 Indenture, by and among us, as issuer, LCIF, as guarantor, and U.S. Bank National Association, as trustee.&#160;The 2023 Notes mature on June&#160;15, 2023, and accrue interest at a rate of 4.25% per annum, payable&#160;semi-annually on June&#160;15 and December&#160;15 of each year. Interest payments commenced on December&#160;15,&#160;2013. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Prior to March&#160;15, 2023, we may redeem the 2023 Notes, in whole at any time or in part from time to time, at our option, at a redemption price equal to the greater of&#8201; (1)&#160;100% of the aggregate principal amount of the 2023 Notes being redeemed and (2)&#160;the sum of the present values of the remaining scheduled payments of principal and interest thereon (not including any portion of such payments of interest accrued as of the date of redemption) discounted to its present value, on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day&#160;months) at an adjusted treasury rate plus 35 basis points, plus, in each case, accrued and unpaid interest thereon to the date of redemption. At any time on or after March&#160;15, 2023, the 2023 Notes will be redeemable, in whole at any time or in part from time to time, at our option, at a redemption price equal to 100% of the principal amount of the 2023 Notes to be redeemed plus accrued and unpaid interest on the amount being redeemed to, but not including, the date of redemption. </div>
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        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">17</div>
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      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a></div>
      <div style="margin-top:46pt;margin-left:70pt;width:456pt;">
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">The Indenture under which the 2023 Notes were issued (the &#8220;2023 Indenture&#8221;) contains certain covenants that, among other things, limit our ability to consummate a merger, consolidation or sale of all or substantially all of its assets, and incur secured and unsecured indebtedness. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Subject to the terms of the 2023 Indenture and the 2023 Notes, upon certain events of default, including, but not limited to, failure to comply with any of our other agreements in the 2023 Notes or the 2023 Indenture, upon receipt by us of notice of such default from the trustee or from holders of not less than 25% in aggregate principal amount of the 2023 Notes then outstanding and our failure to cure (or obtain a waiver of) such default within 60&#160;days after we receive such notice, the trustee or the holders of not less than 25% in principal amount of the outstanding 2023 Notes may declare the principal and accrued and unpaid interest on all of the 2023 Notes to be due and payable immediately by written notice to us (and to the trustee if given by the holders). Upon certain events of bankruptcy, insolvency or reorganization, or court appointment of a receiver, liquidator or trustee of us, our operating partnership, or any other significant subsidiary, the principal (or such portion thereof) of and accrued and unpaid interest on all of the 2023 Notes will become and be immediately due and payable without any declaration or other act on the part of the trustee or any holders. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Certain of our payment obligations with respect to the 2023 Notes are required to be guaranteed by LCIF under certain circumstances, including if LCIF is an obligor under the Principal Credit Agreement (as defined in the 2023 Indenture). If LCIF is not an obligor under the Principal Credit Agreement, LCIF will automatically be released from its guaranty. </div>
        <div style="margin-left:20pt; margin-top:6pt; width:436pt; line-height:12pt;">In addition, the 2023 Notes are cross-defaulted with certain of our indebtedness. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">In connection with the issuance and sale of the 2023 Notes, we also entered into a registration rights agreement with Wells Fargo Securities, LLC and J.P. Morgan Securities LLC, in their capacity as representatives of the initial purchasers, dated as of June&#160;10, 2013, which we refer to as the Registration Rights Agreement. Pursuant to the Registration Rights Agreement, on March&#160;4, 2014, we completed the offer to exchange notes for an issue of registered notes with terms identical to the 2023 Notes. </div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-weight:bold;">4.40% Senior Notes due 2024 </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">On May&#160;20, 2014, we issued $250.0&#160;million aggregate principal amount of our 4.40% Senior Notes due 2024, which we refer to as the &#8220;2024 Notes.&#8221; The 2024 Notes were issued by us at an initial offering price of 99.883% of their face value. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">The terms of the 2024 Notes are governed by an indenture, dated as of May&#160;9, 2014, as supplemented by the first supplemental indenture, dated May&#160;20, 2014, which we collectively refer to as the 2024 Indenture, by and among us, as issuer, LCIF, as guarantor, and U.S. Bank National Association, as trustee.&#160;The 2024 Notes mature on June&#160;15, 2024, and accrue interest at a rate of 4.40% per annum, payable&#160;semi-annually on June&#160;15 and December&#160;15 of each year. Interest payments commenced on December&#160;15, 2014. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Prior to March&#160;15, 2024, we may redeem the 2024 Notes, in whole at any time or in part from time to time, at our option, at a redemption price equal to the greater of&#8201; (1)&#160;100% of the aggregate principal amount of the 2024 Notes being redeemed and (2)&#160;the sum of the present values of the remaining scheduled payments of principal and interest thereon (not including any portion of such payments of interest accrued as of the date of redemption) discounted to its present value, on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day&#160;months) at an adjusted treasury rate plus 35 basis points, plus, in each case, accrued and unpaid interest thereon to the date of redemption. At any time on or after March&#160;15, 2024, the 2024 Notes will be redeemable, in whole at any time or in part from time to time, at our option, at a redemption price equal to 100% of the principal amount of the 2024 Notes to be redeemed plus accrued and unpaid interest on the amount being redeemed to, but not including, the date of redemption. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">The 2024 Indenture contains certain covenants that, among other things, limit our ability to consummate a merger, consolidation or sale of all or substantially all of its assets, and incur secured and unsecured indebtedness. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Subject to the terms of the 2024 Indenture and the 2024 Notes, upon certain events of default, including, but not limited to, failure to comply with any of our other agreements in the 2024 Notes or the </div>
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      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">18</div>
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      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a></div>
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        <div style="width:456pt; line-height:12pt;">2024 Indenture, upon receipt by us of notice of such default from the trustee or from holders of not less than 25% in aggregate principal amount of the 2024 Notes then outstanding and our failure to cure (or obtain a waiver of) such default within 60&#160;days after we receive such notice, the trustee or the holders of not less than 25% in principal amount of the outstanding 2024 Notes may declare the principal and accrued and unpaid interest on all of the 2024 Notes to be due and payable immediately by written notice to us (and to the trustee if given by the holders). Upon certain events of bankruptcy, insolvency or reorganization, or court appointment of a receiver, liquidator or trustee of us, our operating partnership, or any other significant subsidiary, the principal (or such portion thereof) of and accrued and unpaid interest on all of the 2024 Notes will become and be immediately due and payable without any declaration or other act on the part of the trustee or any holders. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Certain of our payment obligations with respect to the 2024 Notes are required to be guaranteed by LCIF under certain circumstances, including if LCIF is an obligor under the Principal Credit Agreement (as defined in the 2024 Indenture). If LCIF is not an obligor under the Principal Credit Agreement, LCIF will automatically be released from its guaranty. </div>
        <div style="margin-left:20pt; margin-top:6pt; width:436pt; line-height:12pt;">In addition, the 2024 Notes are cross-defaulted with certain of our indebtedness.</div>
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        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">19</div>
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      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tDES3">&#8203;</a></div>
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        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:11pt;font-weight:bold;">DESCRIPTION OF DEPOSITARY SHARES </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;font-style:italic;">The following description summarizes general terms and provisions of the depositary shares to which any prospectus supplement may relate. The particular terms of the depositary shares offered by any prospectus supplement and the extent, if any, to which such general provisions may not apply to the depositary shares so offered will be described in the prospectus supplement relating to such securities. For more information, please refer to the provisions of the deposit agreement and depositary receipts we will enter into with a depositary to be selected, our Declaration of Trust, including the form of articles supplementary for the applicable series of preferred shares. For information on incorporation by reference, and how to obtain copies of these documents, see the section entitled &#8220;Where You Can Find More Information&#8221; in this prospectus. This summary also is subject to and qualified by reference to the descriptions of the particular terms of the securities described in the applicable prospectus supplement and by the terms of the applicable deposit agreement and depositary receipts<font style="font-style:normal;">. </font></div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-weight:bold;">General </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">We may, at our option, elect to offer depositary shares rather than full preferred shares. In the event such option is exercised, each of the depositary shares will represent ownership of and entitlement to all rights and preferences of a fraction of a preferred share of a specified series (including dividend, voting, redemption and liquidation rights). The applicable fraction will be specified in a prospectus supplement. The preferred shares represented by the depositary shares will be deposited with a depositary named in the applicable prospectus supplement, under a deposit agreement, among us, the depositary and the holders of the certificates evidencing depositary shares, or depositary receipts. Depositary receipts will be delivered to those persons purchasing depositary shares in the offering. The depositary will be the transfer agent, registrar and dividend disbursing agent for the depositary shares. Holders of depositary receipts agree to be bound by the deposit agreement, which requires holders to take certain actions such as filing proof of residence and paying certain charges. </div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-weight:bold;">Dividends </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">The depositary will distribute all cash dividends or other cash distributions received in respect of the series of preferred shares represented by the depositary shares to the record holders of depositary receipts in proportion to the number of depositary shares owned by such holders on the relevant record date, which will be the same date as the record date fixed by us for the applicable series of preferred shares. The depositary, however, will distribute only such amount as can be distributed without attributing to any depositary share a fraction of one cent, and any balance not so distributed will be added to and treated as part of the next sum received by the depositary for distribution to record holders of depositary receipts then outstanding. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">In the event of a distribution other than in cash, the depositary will distribute property received by it to the record holders of depositary receipts entitled thereto, in proportion, as nearly as may be practicable, to the number of depositary shares owned by such holders on the relevant record date, unless the depositary determines (after consultation with us) that it is not feasible to make such distribution, in which case the depositary may (with our approval) adopt any other method for such distribution as it deems equitable and appropriate, including the sale of such property (at such place or places and upon such terms as it may deem equitable and appropriate) and distribution of the net proceeds from such sale to such holders. </div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-weight:bold;">Liquidation Preference </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">In the event of the liquidation, dissolution or winding up of the affairs of the Company, whether voluntary or involuntary, the holders of each depositary share will be entitled to the fraction of the liquidation preference accorded each share of the applicable series of preferred shares as set forth in the prospectus supplement. </div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-weight:bold;">Redemption </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">If the series of preferred shares represented by the applicable series of depositary shares is redeemable, such depositary shares will be redeemed from the proceeds received by the depositary resulting from the redemption, in whole or in part, of preferred shares held by the depositary. Whenever we redeem any </div>
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        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">20</div>
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      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a></div>
      <div style="margin-top:46pt;margin-left:70pt;width:456pt;">
        <div style="width:456pt; line-height:12pt;">preferred shares held by the depositary, the depositary will redeem as of the same redemption date the number of depositary shares representing the preferred shares so redeemed. The depositary will mail the notice of redemption promptly upon receipt of such notice from us and not less than 30 nor more than 60&#160;days prior to the date fixed for redemption of the preferred shares and the depositary shares to the record holders of the depositary receipts. </div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-weight:bold;">Voting </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Promptly upon receipt of notice of any meeting at which the holders of the series of preferred shares represented by the applicable series of depositary shares are entitled to vote, the depositary will mail the information contained in such notice of meeting to the record holders of the depositary receipts as of the record date for such meeting. Each such record holder of depositary receipts will be entitled to instruct the depositary as to the exercise of the voting rights pertaining to the number of preferred shares represented by such record holder&#8217;s depositary shares. The depositary will endeavor, insofar as practicable, to vote such preferred shares represented by such depositary shares in accordance with such instructions, and we will agree to take all action which may be deemed necessary by the depositary in order to enable the depositary to do so. The depositary will abstain from voting any of the preferred shares to the extent that it does not receive specific instructions from the holders of depositary receipts. </div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-weight:bold;">Withdrawal of Preferred Shares </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Upon surrender of depositary receipts at the principal office of the depositary, upon payment of any unpaid amount due the depositary, and subject to the terms of the deposit agreement, the owner of the depositary shares evidenced thereby is entitled to delivery of the number of whole preferred shares and all money and other property, if any, represented by such depositary shares. Fractional preferred shares will not be issued. If the depositary receipts delivered by the holder evidence a number of depositary shares in excess of the number of depositary shares representing the number of whole preferred shares to be withdrawn, the depositary will deliver to such holder at the same time a new depositary receipt evidencing such excess number of depositary shares. Holders of preferred shares thus withdrawn will not thereafter be entitled to deposit such shares under the deposit agreement or to receive depositary receipts evidencing depositary shares therefor. </div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-weight:bold;">Amendment and Termination of Deposit Agreement </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">The form of depositary receipt evidencing the depositary shares and any provision of the deposit agreement may at any time and from time to time be amended by agreement between us and the depositary. However, any amendment which materially and adversely alters the rights of the holders (other than any change in fees) of depositary shares will not be effective unless such amendment has been approved by the holders of at least a majority of the depositary shares then outstanding. No such amendment may impair the right, subject to the terms of the deposit agreement, of any owner of any depositary shares to surrender the depositary receipt evidencing such depositary shares with instructions to the depositary to deliver to the holder of preferred shares and all money and other property, if any, represented thereby, except in order to comply with mandatory provisions of applicable law. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">The deposit agreement will be permitted to be terminated by us upon not less than 30&#160;days&#8217; prior written notice to the applicable depositary if&#8201; (i)&#160;such termination is necessary to preserve our qualification as a REIT or (ii) a majority of each series of preferred shares affected by such termination consents to such termination, whereupon such depositary will be required to deliver or make available to each holder of depositary receipts, upon surrender of the depositary receipts held by such holder, such number of whole or fractional preferred shares as are represented by the depositary shares evidenced by such depositary receipts together with any other property held by such depositary with respect to such depositary receipts. In addition, the deposit agreement will automatically terminate if&#8201; (i)&#160;all outstanding depositary shares thereunder will have been redeemed, (ii) there will have been a final distribution in respect of the related preferred shares in connection with any liquidation, dissolution or winding up of Lexington Realty Trust and such distribution will have been distributed to the holders of depositary receipts evidencing the depositary shares representing such preferred shares or (iii) each preferred share will have been converted into shares of Lexington Realty Trust not so represented by depositary shares. </div>
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      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">21</div>
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    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a></div>
      <div style="margin-top:46pt;height:660pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-weight:bold;">Charges of Depositary </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">We will pay all transfer and other taxes and governmental charges arising solely from the existence of the depositary arrangements. We will pay charges of the depositary in connection with the initial deposit of the preferred shares and initial issuance of the depositary shares, and redemption of the preferred shares and all withdrawals of preferred shares by owners of depositary shares. Holders of depositary receipts will pay transfer, income and other taxes and governmental charges and certain other charges as are provided in the deposit agreement to be for their accounts. In certain circumstances, the depositary may refuse to transfer depositary shares, may withhold dividends and distributions and sell the depositary shares evidenced by such depositary receipt if such charges are not paid. </div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-weight:bold;">Miscellaneous </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">The depositary will forward to the holders of depositary receipts all reports and communications from us which are delivered to the depositary and which we are required to furnish to the holders of the preferred shares. In addition, the depositary will make available for inspection by holders of depositary receipts at the principal office of the depositary, and at such other places as it may from time to time deem advisable, any reports and communications received from us which are received by the depositary as the holder of preferred shares. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Neither we nor the depositary assumes any obligation or will be subject to any liability under the deposit agreement to holders of depositary receipts other than for the depositary&#8217;s negligence or willful misconduct. Neither we nor the depositary will be liable if the depositary is prevented or delayed by law or any circumstance beyond its control in performing its obligations under the deposit agreement. The obligations of the Company and the depositary under the deposit agreement will be limited to performance in good faith of their duties thereunder, and they will not be obligated to prosecute or defend any legal proceeding in respect of any depositary shares or preferred shares unless satisfactory indemnity is furnished. We and the depositary may rely on written advice of counsel or accountants, on information provided by holders of the depositary receipts or other persons believed in good faith to be competent to give such information and on documents believed to be genuine and to have been signed or presented by the proper party or parties. In the event the depositary will receive conflicting claims, requests or instructions from any holders of depositary receipts, on the one hand, and us, on the other hand, the depositary will be entitled to act on such claims, requests or instructions received from us. </div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-weight:bold;">Resignation and Removal of Depositary </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">The depositary may resign at any time by delivering to us notice of its election to do so, and we may at any time remove the depositary, any such resignation or removal to take effect upon the appointment of a successor depositary and its acceptance of such appointment. Such successor depositary must be appointed within 60&#160;days after delivery of the notice for resignation or removal and must be a bank or trust company having its principal office in the United States of America and having a combined capital and surplus of at least $150,000,000.</div>
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      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">22</div>
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      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tDES4">&#8203;</a></div>
      <div style="margin-top:46pt;height:660pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:11pt;font-weight:bold;">DESCRIPTION OF WARRANTS </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;font-style:italic;">The following description, together with the additional information we include in any applicable prospectus supplement, summarizes the general terms and provisions of the warrants that we may offer under this prospectus. Because it is a summary, it does not contain all of the information that may be important to you. While the terms we have summarized below will apply generally to any warrants we may offer, you should also read the applicable prospectus supplement which will describe the particular terms of any warrants that we may offer in more detail. For information on incorporation by reference, and how to obtain copies of these documents, see the section entitled &#8220;Where You Can Find More Information&#8221; in this prospectus. This summary also is subject to and qualified by reference to the descriptions of the particular terms of the securities described in the applicable prospectus supplement and the terms of the applicable final warrants and warrant agreement<font style="font-style:normal;">. </font></div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">We may issue warrants for the purchase of debt or equity securities described in this prospectus. Warrants may be issued independently or together with any offered securities and may be attached to or separate from such securities. Each series of warrants will be issued under a separate warrant agreement we will enter into with a warrant agent specified in the agreement. The warrant agent will act solely as our agent in connection with the warrants of that series and will not assume any obligation or relationship of agency or trust for or with any holders or beneficial owners of warrants. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">A prospectus supplement relating to any series of warrants being offered will include specific terms relating to the offering. They will include, where applicable: </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">the title of the warrants; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.97pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.97pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">the aggregate number of warrants; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">the price or prices at which the warrants will be issued; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">the currencies in which the price or prices of the warrants may be payable; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">the designation, amount and terms of the offered securities purchasable upon exercise of the warrants; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.97pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.97pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">the designation and terms of the other offered securities, if any, with which the warrants are issued and the number of warrants issued with the security; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">if applicable, the date on and after which the warrants and the offered securities purchasable upon exercise of the warrants will be separately transferable; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">the price or prices at which, and currency or currencies in which, the offered securities purchasable upon exercise of the warrants may be purchased; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.97pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.97pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">the date on which the right to exercise the warrants will commence and the date on which the right will expire; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">the minimum or maximum amount of the warrants which may be exercised at any one time; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">information with respect to book-entry procedures, if any; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">any listing of warrants on any securities exchange; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.97pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.97pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">if appropriate, a discussion of federal income tax consequences; and </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">any other material term of the warrants, including terms, procedures and limitations relating to the exchange and exercise of the warrants.</div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="clear:both;font-size:0pt;">&#8203;</div>
      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">23</div>
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    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tDES5">&#8203;</a><a name="tDES6">&#8203;</a></div>
      <div style="margin-top:46pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:11pt;font-weight:bold;">DESCRIPTION OF SUBSCRIPTION RIGHTS </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;font-style:italic;">The following is a general description of the terms of the subscription rights we may issue from time to time. Particular terms of any subscription rights we offer will be described in the prospectus supplement relating to such subscription rights. The description in the applicable prospectus supplement of any subscription rights we offer will not necessarily be complete and will be qualified in its entirety by reference to the applicable subscription rights certificate or subscription rights agreement, which will be filed with the SEC if we offer subscription rights. This summary also is subject to and qualified by reference to the descriptions of the particular terms of the securities described in the applicable prospectus supplement and the terms of the applicable final subscription rights agreement and subscription rights certificate<font style="font-style:normal;">. </font></div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">We may issue subscription rights to purchase our common shares. These subscription rights may be issued independently or together with any other security offered hereby and may or may not be transferable by the shareholder receiving the subscription rights in such offering. In connection with any offering of subscription rights, we may enter into a standby arrangement with one or more underwriters or other purchasers pursuant to which the underwriters or other purchasers may be required to purchase any securities remaining unsubscribed for after such offering. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">The applicable prospectus supplement will describe the specific terms of any offering of subscription rights for which this prospectus is being delivered, including the following: </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.97pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.97pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">the price, if any, for the subscription rights; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">the exercise price payable for each common share upon the exercise of the subscription rights; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">the number of subscription rights issued to each shareholder; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">the number and terms of the common shares which may be purchased per each subscription right; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.97pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.97pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">the extent to which the subscription rights are transferable; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">any other terms of the subscription rights, including the terms, procedures and limitations relating to the exchange and exercise of the subscription rights; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">the date on which the right to exercise the subscription rights will commence, and the date on which the subscription rights will expire; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.97pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.97pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">the extent to which the subscription rights may include an over-subscription privilege with respect to unsubscribed securities; and </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">if applicable, the material terms of any standby underwriting or purchase arrangement entered into by us in connection with the offering of subscription rights. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:11pt;font-weight:bold;">DESCRIPTION OF UNITS </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">As specified in the applicable prospectus supplement, we may issue&#160;units consisting of one or more common shares, preferred shares, debt securities, subscription rights, depositary shares, warrants or any combination of such securities. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">The applicable prospectus supplement will specify the following terms of any&#160;units in respect of which this prospectus is being delivered: </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">the terms of the&#160;units and of any of the common shares, preferred shares, debt securities, warrants, subscription rights or depositary shares comprising the&#160;units, including whether and under what circumstances the securities comprising the&#160;units may be traded separately; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.97pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.97pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">a description of the terms of any unit agreement governing the&#160;units; and </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">a description of the provisions for the payment, settlement, transfer or exchange of the&#160;units.<br ></div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="clear:both;font-size:0pt;">&#8203;</div>
      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">24</div>
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    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tRES">&#8203;</a></div>
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        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:11pt;font-weight:bold;">RESTRICTIONS ON TRANSFERS OF CAPITAL STOCK AND ANTI-TAKEOVER PROVISIONS </div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-weight:bold;">Restrictions Relating To REIT Status </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">For us to qualify as a REIT under the Code, among other things, not more than 50% in value of the outstanding shares of our capital stock may be owned, directly or indirectly, by five or fewer individuals (defined in the Code to include certain entities) during the last half of a taxable year, and such shares of our capital stock must be beneficially owned by 100 or more persons during at least 335&#160;days of a taxable year of 12&#160;months or during a proportionate part of a shorter taxable year (in each case, other than the first such year). To assist us in continuing to remain a qualified REIT, among other purposes, our Declaration of Trust, subject to certain exceptions, provides that no holder may own, or be deemed to own by virtue of the attribution provisions of the Code, more than 9.8% in value of our equity shares, defined as common shares or preferred shares. We refer to this restriction as the Ownership Limit. Our board of trustees may exempt a person from the Ownership Limit if upon receipt of a ruling from the Internal Revenue Service or an opinion of counsel or other evidence satisfactory to our board of trustees is presented that the exemption will not result in us having fewer than 100 beneficial owners or in us being &#8220;closely held.&#8221; Any transfer of equity shares or any security convertible into equity shares that would create a direct or indirect ownership of equity shares in excess of the Ownership Limit or that would result in the equity shares being owned by fewer than 100 persons or result in us being &#8220;closely held&#8221; within the meaning of Section&#160;856(h) of the Code, will be null and void, and the intended transferee will acquire no rights to such equity shares. The foregoing restrictions on transferability and ownership will not apply if our board of trustees determines that it is no longer in our best interests to attempt to qualify, or to continue to qualify, as a REIT. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">In addition, equity shares owned, or deemed to be owned, or transferred to a shareholder in excess of the Ownership Limit or that would cause us to become &#8220;closely held&#8221; within the meaning of the Code, will automatically be converted into an equal number of excess shares that will be transferred, by operation of law, to us as trustee of a trust for the exclusive benefit of the transferees to whom such shares of beneficial interest in us may be ultimately transferred without violating the Ownership Limit. While the excess shares are held in trust, they will not be entitled to vote (except as required by Maryland law), they will not be considered for purposes of any shareholder vote or the determination of a quorum for such vote and, except upon liquidation, they will not be entitled to participate in dividends or other distributions. Any dividend or distribution paid on excess shares prior to our discovery that equity shares have converted for excess shares will be repaid to us upon demand. The excess shares are not treasury shares, but rather constitute a separate class of our issued and outstanding shares. The original transferee-shareholder may, at any time the excess shares are held by us in trust, transfer the interest in the trust representing the excess shares to any individual whose ownership of the equity shares exchanged into such excess shares would be permitted under our Declaration of Trust, at a price not in excess of the price paid by the original transferee-shareholder for the equity shares that were exchanged into excess shares, or, if the transferee-shareholder did not give value for such shares, a price not in excess of the market price (as determined in the manner set forth in our Declaration of Trust) on the date of the purported transfer. Immediately upon the transfer to the permitted transferee, the excess shares will automatically be converted into equity shares of the class from which they were converted. If the foregoing transfer restrictions are determined to be void or invalid by virtue of any legal decision, statute, rule or regulation, then the intended transferee of any excess shares may be deemed, at our option, to have acted as an agent on our behalf in acquiring the excess shares and to hold the excess shares on our behalf. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">In addition to the foregoing transfer restrictions, we will have the right, for a period of 90&#160;days during the time any excess shares are held by us in trust, to purchase all or any portion of the excess shares from the original transferee-shareholder for the lesser of the price paid for the equity shares by the original transferee-shareholder or the market price (as determined in the manner set forth in our Declaration of Trust) on the date we exercise our option to purchase. The 90-day period begins on the later of the date of the transfer that resulted in excess stock or the date on which our board of trustees determines in good faith that a transfer resulting in excess shares has occurred, if we do not receive written notice of the transfer or other event resulting in the exchange of equity shares for excess shares.</div>
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        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">25</div>
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    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a></div>
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        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Any person who acquires or attempts to acquire equity shares in violation of the foregoing restrictions, or any person who is a transfree such that excess shares resulted from such transfer, will be required to give written notice immediately to us of such event and provide us with such other information as we may request in order to determine the effect, if any, of such transfer, or attempted transfer, on our status as a REIT.</div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">All persons who own, directly or indirectly, (i)&#160;more than 5% of the outstanding equity shares, (ii)&#160;more than 1% of the outstanding equity shares during any period in which the number of beneficial or constructive owners is fewer than 2,000 or (iii)&#160;such lower percentages as required pursuant to regulations under the Code must, within 30&#160;days after January&#160;1 of each year, provide to us a written statement or affidavit stating the name and address of such direct or indirect owner, the number of equity shares owned directly or indirectly, and a description of how such shares are held. In addition, each direct or indirect shareholder shall provide to us such additional information as we may request in order to determine the effect, if any, of such ownership on our status as a REIT and to ensure compliance with the ownership limitation.</div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">This Ownership Limit may have the effect of precluding an acquisition of control unless our board of trustees determines that maintenance of REIT status is no longer in our best interests. </div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-weight:bold;">Authorized Capital </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Under our Declaration of Trust, we have authority to issue up to 1,000,000,000 shares of beneficial interest, par value $0.0001 per share, of which 400,000,000 shares are classified as common shares, 500,000,000 shares are classified as excess stock and 100,000,000 shares are classified as preferred shares. We may issue such shares from time to time in the discretion of our board of trustees to raise additional capital, acquire assets, including additional real properties, redeem or retire debt or for any other business purpose. In addition, the undesignated preferred shares may be issued in one or more additional classes or series with such designations, preferences and relative, participating, optional or other special rights including, without limitation, preferential dividend or voting rights, and rights upon liquidation, as will be fixed by our board of trustees. Our board of trustees is authorized to classify and reclassify any of our unissued shares of beneficial interest by setting or changing, in any one or more respects, the preferences, conversion or other rights, voting powers, restrictions, limitations as to dividends, qualifications or terms or conditions of redemption of such shares. This authority includes, without limitation, subject to the provisions of our Declaration of Trust, authority to classify or reclassify any unissued shares into a class or classes of preferred shares, preference shares, special shares or other shares, and to divide and reclassify shares of any class into one or more series of that class. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">In some circumstances, the issuance of preferred shares, or the exercise by our board of trustees of its right to classify or reclassify shares, could have the effect of deterring individuals or entities from making tender offers for our common shares or seeking to change incumbent management. </div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-weight:bold;">Maryland Law</div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;"><font style="font-style:italic;font-weight:bold;">Our Board of Trustees.</font>&nbsp;&nbsp;&nbsp;Our Declaration of Trust and By-laws provide that the number of our trustees may be established, increased or decreased only by a majority of the entire board of trustees.</div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;"><font style="font-style:italic;font-weight:bold;">Removal of Trustees.</font>&nbsp;&nbsp;&nbsp;Our Declaration of Trust provides that, subject to the rights of the holders of any class separately entitled to elect one or more trustees, a trustee may be removed, but only for cause and then only by the affirmative vote of at least 80% of the votes entitled to be cast in the election of trustees.</div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;"><font style="font-style:italic;font-weight:bold;">Extraordinary Actions, Amendment of Declaration of Trust.</font>&nbsp;&nbsp;&nbsp;Under the Maryland REIT Law, a Maryland real estate investment trust generally cannot amend its declaration of trust or merge with, or convert into, another entity unless advised by its board of trustees and approved by the affirmative vote of shareholders entitled to cast at least two-thirds of the votes entitled to be cast on the matter unless a different percentage (but not less than a majority of all of the votes entitled to be cast on the matter) is set forth in its declaration of trust. Our Declaration of Trust provides that those actions, with the exception of certain amendments to our Declaration of Trust for which a higher vote requirement has been set, will be </div>
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        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">26</div>
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        <div style="width:456pt; line-height:12pt;">valid and effective if authorized by holders of a majority of the total number of shares of all classes outstanding and entitled to vote thereon. Under our Declaration of Trust, our dissolution and termination requires the affirmation of shareholders entitled to cast at least two-thirds of the votes entitled to be cast on the matter.</div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;"><font style="font-style:italic;font-weight:bold;">Amendment to Our By-laws.</font>&nbsp;&nbsp;&nbsp;Our By-laws may be repealed, altered, amended or rescinded (a)&#160;by our shareholders only by the affirmative vote of at least 80% of the votes entitled to be cast in the election of trustees or (b)&#160;by vote of two-thirds of our board of trustees.</div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;"><font style="font-style:italic;font-weight:bold;">Meetings of Shareholders.</font>&nbsp;&nbsp;&nbsp;Under our By-laws, annual meetings of shareholders are held on the first day of May in each year, or at such other time on such other day falling on or before the 30th day thereafter as shall be set by our board of trustees. Special meetings of shareholders may be called only by the chairman of our board of trustees, our president or a majority of our board of trustees. Subject to the provisions of our By-laws, a special meeting of our shareholders to act on any matter that may properly be considered by our shareholders will also be called by our secretary upon the written request of the shareholders entitled to cast not less than 25% of all the votes entitled to be cast at such meeting. Only matters set forth in the notice of the special meeting may be considered and acted upon at such a meeting.</div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;"><font style="font-style:italic;font-weight:bold;">Advance Notice of Trustee Nominations and New Business.</font>&nbsp;&nbsp;&nbsp;Our By-laws provide that in order to make nominations of individuals for election as trustees or proposals of business to be considered by shareholders at any annual meeting, shareholders generally must provide notice to our secretary not less than 120 days in advance of the release date of our proxy statement to shareholders in connection with the preceding year&#8217;s annual meeting. A shareholder&#8217;s notice must contain certain information specified by our By-laws about the shareholder and any proposed business or nominee for election as a trustee, including information about the economic interest of the shareholder and any proposed nominee.</div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;"><font style="font-style:italic;font-weight:bold;">Proxy Access Procedures for Qualifying Shareholders.</font>&nbsp;&nbsp;&nbsp;Our By-laws permit a shareholder, or a group of up to 20 shareholders, that owns 3% or more of the our common shares continuously for at least three years to nominate and include in our proxy materials candidates for election as trustees, subject to certain terms and conditions. Such shareholder(s) or group(s) of shareholders may nominate trustee candidates constituting up to the greater of two persons or 20% of our board of trustees, provided that the shareholder(s) and the trustee nominee(s) satisfy the eligibility, notice and other requirements specified in the By-laws.</div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;"><font style="font-style:italic;font-weight:bold;">Business Combinations.</font>&nbsp;&nbsp;&nbsp;Under Maryland law, certain &#8220;business combinations&#8221; between a Maryland real estate investment trust and an &#8220;interested shareholder&#8221; or an affiliate of an interested shareholder are prohibited for five&#160;years after the most recent date on which the interested shareholder became an interested shareholder. These business combinations include a merger, consolidation, share exchange, or, in circumstances specified in the statute, an asset transfer or issuance or reclassification of equity securities. An interested shareholder is defined as: </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">any person who beneficially owns ten&#160;percent or more of the voting power of the trust&#8217;s shares; or </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">an affiliate or associate of the trust who, at any time within the two-year period prior to the date in question, was the beneficial owner of ten&#160;percent or more of the voting power of the then outstanding voting shares of the trust. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">A person is not an interested shareholder under the statute if the board of trustees approved in advance the transaction by which the person otherwise would have become an interested shareholder. However, in approving a transaction, the board of trustees may provide that its approval is subject to compliance, at or after the time of approval, with any terms or conditions determined by the board of trustees. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">After the five-year prohibition, any such business combination between the Maryland real estate investment trust and an interested shareholder generally must be recommended by the board of trustees of the trust and approved by the affirmative vote of at least: </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.97pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.97pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">eighty&#160;percent of the votes entitled to be cast by holders of outstanding voting shares of the trust; and </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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      <div style="clear:both;font-size:0pt;">&#8203;</div>
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        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">27</div>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:4pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:4pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">two-thirds of the votes entitled to be cast by holders of voting shares of the trust other than shares held by the interested shareholder with whom or with whose affiliate the business combination is to be effected or held by an affiliate or associate of the interested shareholder. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">These super-majority vote requirements do not apply if the trust&#8217;s common shareholders receive a minimum price, as defined under Maryland law, for their shares in the form of cash or other consideration in the same form as previously paid by the interested shareholder for its shares. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">The statute permits various exemptions from its provisions, including business combinations that are exempted by the board of trustees prior to the time that the interested shareholder becomes an interested shareholder. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Our board of trustees has exempted Vornado Realty Trust and its affiliates, to a limited extent, from these restrictions. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">The business combination statute may discourage others from trying to acquire control of us and increase the difficulty of consummating any offer. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;"><font style="font-style:italic;font-weight:bold;">Control Share Acquisitions.</font>&nbsp;&nbsp;&nbsp;Maryland law provides that holders of&#8201; &#8220;control shares&#8221; of a Maryland real estate investment trust acquired in a &#8220;control share acquisition&#8221; have no voting rights with respect to the control shares except to the extent approved by a vote of two-thirds of the votes entitled to be cast on the matter. Shares owned by the acquiror, by officers or by employees who are trustees of the trust are excluded from shares entitled to vote on the matter. Control shares are voting shares which, if aggregated with all other shares owned by the acquiror or in respect of which the acquiror is able to exercise or direct the exercise of voting power (except solely by virtue of a revocable proxy), would entitle the acquiror to exercise voting power in electing trustees within one of the following ranges of voting power: </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.58pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.58pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">one-tenth or more but less than one-third; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.58pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.58pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">one-third or more but less than a majority; or </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.78pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.78pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">a majority or more of all voting power. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Control shares do not include shares the acquiring person is then entitled to vote as a result of having previously obtained shareholder approval. A control share acquisition means the acquisition of issued and outstanding control shares, subject to certain exceptions. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">A person who has made or proposes to make a control share acquisition may compel the board of trustees of the trust to call a special meeting of shareholders to be held within 50&#160;days of demand to consider the voting rights of the shares. The right to compel the calling of a special meeting is subject to the satisfaction of certain conditions, including an undertaking to pay the expenses of the meeting. If no request for a meeting is made, the trust may itself present the question at any shareholders meeting. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">If voting rights are not approved at the meeting or if the acquiring person does not deliver an acquiring person statement as required by the statute, then the trust may redeem for fair value any or all of the control shares, except those for which voting rights have previously been approved. The right of the trust to redeem control shares is subject to certain conditions and limitations. Fair value is determined, without regard to the absence of voting rights for the control shares, as of the date of the last control share acquisition by the acquiror or of any meeting of shareholders at which the voting rights of the shares are considered and not approved. If voting rights for control shares are approved at a shareholders meeting and the acquirer becomes entitled to vote a majority of the shares entitled to vote, all other shareholders may exercise appraisal rights. The fair value of the shares as determined for purposes of appraisal rights may not be less than the highest price per share paid by the acquiror in the control share acquisition. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">The control share acquisition statute does not apply (a)&#160;to shares acquired in a merger, consolidation or share exchange if the trust is a party to the transaction or (b)&#160;to acquisitions approved or exempted by the declaration of trust or bylaws of the trust. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Our By-Laws contain a provision exempting from the control share acquisition statute any and all acquisitions by any person of our shares. There can be no assurance that this provision will not be amended or eliminated at any time in the future. </div>
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        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">28</div>
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        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;"><font style="font-style:italic;font-weight:bold;">Certain Elective Provisions of Maryland Law.</font>&nbsp;&nbsp;&nbsp;Maryland law provides that a Maryland real estate investment trust with a class of equity securities registered under the Exchange Act, and that has at least three independent trustees, may elect by provision of its declaration or bylaws or by resolution adopted by its board of trustees to be subject to all or any of the following provisions, notwithstanding any contrary provisions contained in its existing declaration of trust or bylaws and without shareholder approval: </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">a classified board; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.97pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.97pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">a two-thirds vote of outstanding shares to remove a trustee; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">a requirement that the number of trustees be fixed only by vote of the board of trustees; </div>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">a requirement that a vacancy on the board of trustees be filled only by the affirmative vote of a majority of the remaining trustees and that such trustee filling the vacancy serve for the remainder of the full term of the class of trustees in which the vacancy occurred and until a successor is duly elected and qualifies; and </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">a provision that a special meeting of shareholders must be called upon the written request of shareholders entitled to cast a majority of all the votes entitled to be cast at the meeting. </div>
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        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">We have not elected to be governed by any of these specific provisions. However, our Declaration of Trust and/or By-Laws, as applicable, already provide for an 80% shareholder vote to remove trustees and then only for cause, and that the number of trustees may be determined by a resolution of our Board, subject to a minimum number. In addition, we can elect to be governed by any or all of the foregoing provisions of Maryland law at any time in the future. </div>
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        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:11pt;font-weight:bold;">UNITED STATES FEDERAL INCOME TAX CONSIDERATIONS </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;font-style:italic;">The following is a summary of federal income tax considerations relating to our qualification and taxation as a REIT and the acquisition, ownership and disposition of our common shares that may be relevant to prospective investors. Paul Hastings LLP has acted as our tax counsel and, subject to the limitations expressed herein, is of the opinion that the statements in this summary, to the extent they constitute summaries of legal matters, are accurate summaries in all material respects. You should be aware that an opinion of counsel is not binding on the Internal Revenue Service, or IRS, or the courts. Prospective investors are urged to consult their own tax advisors regarding the tax considerations relating to an investment in our shares and our qualification and taxation as a REIT in light of their particular circumstances<font style="font-style:normal;">. </font></div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">The following discussion summarizes the material United States federal income tax considerations to you as a prospective holder of our common shares and assumes that you will hold such shares as capital assets (within the meaning of Section&#160;1221 of the Code). This summary does not give a detailed discussion of any state, local or foreign tax considerations. In addition, this discussion is intended to address only those federal income tax considerations that are generally applicable to all of our shareholders. It does not discuss all of the aspects of federal income taxation that may be relevant to you in light of your particular circumstances or to certain types of shareholders who are subject to special treatment under the federal income tax laws including, without limitation, regulated investment companies, insurance companies, tax-exempt entities, financial institutions or broker-dealers, expatriates, persons subject to the alternative minimum tax and partnerships or other pass through entities. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">The information in this section is based on the Code, existing, temporary and proposed regulations under the Code, the legislative history of the Code, current administrative rulings and practices of the IRS and court decisions, all as of the date hereof. No assurance can be given that future legislation, regulations, administrative interpretations and court decisions will not significantly change current law or adversely affect existing interpretations of current law. Any such change could apply retroactively to transactions preceding the date of the change. In addition, we have not received, and do not plan to request, any rulings from the IRS. Thus no assurance can be provided that the statements set forth herein (which do not bind the IRS or the courts) will not be challenged by the IRS or that such statements will be sustained by a court if so challenged. </div>
        <div style="margin-top:6pt; width:456pt; line-height:12pt;">PROSPECTIVE HOLDERS OF OUR COMMON SHARES ARE ADVISED TO CONSULT THEIR OWN TAX ADVISORS REGARDING THE FEDERAL, STATE, LOCAL AND FOREIGN TAX CONSEQUENCES OF INVESTING IN OUR COMMON SHARES IN LIGHT OF THEIR PARTICULAR CIRCUMSTANCES. </div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-weight:bold;">Taxation of the Company </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;"><font style="font-style:italic;font-weight:bold;">General.</font>&nbsp;&nbsp;&nbsp;We elected to be taxed as a REIT under Sections&#160;856 through 860 of the Code, commencing with our taxable year ended December&#160;31, 1993. We believe that we have been organized, and have operated, in such a manner so as to qualify for taxation as a REIT under the Code and intend to conduct our operations so as to continue to qualify for taxation as a REIT. No assurance, however, can be given that we have operated in a manner so as to qualify or will be able to operate in such a manner so as to remain qualified as a REIT. Qualification and taxation as a REIT depend upon our ability to meet on a continuing basis, through actual annual operating results, the required distribution levels, diversity of share ownership and the various qualification tests imposed under the Code discussed below, the results of which will not be reviewed by counsel. Given the highly complex nature of the rules governing REITs, the ongoing importance of factual determinations, and the possibility of future changes in our circumstances, no assurance can be given that the actual results of our operations for any one taxable year have satisfied or will continue to satisfy such requirements. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">In the opinion of Paul Hastings LLP, based on certain assumptions and our factual representations that are described in this section and in officer&#8217;s certificates provided by us, commencing with our taxable year ended December&#160;31, 1993, we have been organized and operated in conformity with the requirements for qualification as a REIT and our current and proposed method of operation will enable us to continue to meet the requirements for qualification and taxation as a REIT. It must be emphasized that this opinion is </div>
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        <div style="width:456pt; line-height:12pt;">based on various assumptions and is conditioned upon certain representations made by us as to factual matters including, but not limited to, those set forth herein, and those concerning our business and properties as set forth in this prospectus. An opinion of counsel is not binding on the IRS or the courts. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">The following is a general summary of the Code provisions that govern the federal income tax treatment of a REIT and its shareholders. These provisions of the Code are highly technical and complex. This summary is qualified in its entirety by the applicable Code provisions, Treasury Regulations and administrative and judicial interpretations thereof, all of which are subject to change prospectively or retroactively. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">If we qualify for taxation as a REIT, we generally will not be subject to federal corporate income taxes on our net income that is currently distributed to shareholders. This treatment substantially eliminates the &#8220;double taxation&#8221; (at the corporate and shareholder levels) that generally results from investment in a corporation. However, we will be subject to federal income tax as follows: </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.97pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.97pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">First, we will be taxed at regular corporate rates on any undistributed REIT taxable income, including undistributed net capital gains. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">Second, under certain circumstances, we may be subject to the &#8220;alternative minimum tax&#8221; on our items of tax preference. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">Third, if we have (a)&#160;net income from the sale or other disposition of&#8201; &#8220;foreclosure property,&#8221; which is, in general, property acquired on foreclosure or otherwise on default on a loan secured by such real property or a lease of such property, which is held primarily for sale to customers in the ordinary course of business or (b)&#160;other nonqualifying income from foreclosure property, we will be subject to tax at the highest corporate rate on such income. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">Fourth, if we have net income from prohibited transactions such income will be subject to a 100%&#160;tax. Prohibited transactions are, in general, certain sales or other dispositions of property held primarily for sale to customers in the ordinary course of business other than foreclosure property. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.97pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.97pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">Fifth, if we should fail to satisfy the 75% gross income test or the 95% gross income test (as discussed below), but nonetheless maintain our qualification as a REIT because certain other requirements have been met, we will be subject to a 100% tax on an amount equal to (a)&#160;the gross income attributable to the greater of the amount by which we fail the 75% gross income test or the amount by which 95% of our gross income exceeds the amount of income qualifying under the 95% gross income test multiplied by (b)&#160;a fraction intended to reflect our profitability. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">Sixth, if we should fail to satisfy the asset tests (as discussed below) but nonetheless maintain our qualification as a REIT because certain other requirements have been met and we do not qualify for a de minimis exception, we may be subject to a tax that would be the greater of&#8201; (a) $50,000; or (b)&#160;an amount determined by multiplying the highest rate of tax for corporations by the net income generated by the assets for the period beginning on the first date of the failure and ending on the day we dispose of the non-qualifying assets (or otherwise satisfy the requirements for maintaining REIT qualification). </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">Seventh, if we should fail to satisfy one or more requirements for REIT qualification, other than the 95% and 75% gross income tests and other than the asset tests, but nonetheless maintain our qualification as a REIT because certain other requirements have been met, we may be subject to a $50,000 penalty for each failure. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.97pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.97pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">Eighth, if we should fail to distribute during each calendar year at least the sum of&#8201; (a)&#160;85% of our REIT ordinary income for such year, (b)&#160;95% of our REIT capital gain net income for such year, and (c)&#160;any undistributed taxable income from prior periods, we would be subject to a nondeductible 4% excise tax on the excess of such required distribution over the amounts actually distributed.</div>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:4pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:4pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">Ninth, if we acquire any asset from a C corporation (i.e., a corporation generally subject to full corporate level tax) in a transaction in which the basis of the asset in our hands is determined by reference to the basis of the asset (or any other property) in the hands of the C corporation and we do not elect to be taxed at the time of the acquisition, we would be subject to tax at the highest corporate rate if we dispose of such asset during the five-year period (or other statutorily prescribed period) beginning on the date that we acquired that asset, to the extent of such property&#8217;s &#8220;built-in gain&#8221; (the excess of the fair market value of such property at the time of our acquisition over the adjusted basis of such property at such time) (we refer to this tax as the &#8220;Built-in Gains Tax&#8221;). </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8.39pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:8.39pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">Tenth, we will incur a 100% excise tax on transactions with a taxable REIT subsidiary that are not conducted on an arm&#8217;s-length basis. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8.58pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:8.58pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">Finally, if we own a residual interest in a real estate mortgage investment conduit, or &#8220;REMIC,&#8221; we will be taxable at the highest corporate rate on the portion of any excess inclusion income that we derive from the REMIC residual interests equal to the&#160;percentage of our shares that is held in record name by &#8220;disqualified organizations.&#8221; Similar rules apply if we own an equity interest in a taxable mortgage pool. A &#8220;disqualified organization&#8221; includes the United States, any state or political subdivision thereof, any foreign government or international organization, any agency or instrumentality of any of the foregoing, any rural electrical or telephone cooperative and any tax-exempt organization (other than a farmer&#8217;s cooperative described in Section&#160;521 of the Code) that is exempt from income taxation and from the unrelated business taxable income provisions of the Code. However, to the extent that we own a REMIC residual interest or a taxable mortgage pool through a taxable REIT subsidiary, we will not be subject to this tax. See the heading &#8220;Requirements for Qualification&#8221; below. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;"><font style="font-style:italic;font-weight:bold;">Requirements for Qualification.</font>&nbsp;&nbsp;&nbsp;A REIT is a corporation, trust or association (1)&#160;that is managed by one or more trustees or directors, (2)&#160;the beneficial ownership of which is evidenced by transferable shares, or by transferable certificates of beneficial interest, (3)&#160;that would be taxable as a domestic corporation, but for Sections&#160;856 through 860 of the Code, (4)&#160;that is neither a financial institution nor an insurance company subject to certain provisions of the Code, (5)&#160;that has the calendar year as its taxable year, (6)&#160;the beneficial ownership of which is held by 100 or more persons, (7)&#160;during the last half of each taxable year, not more than 50% in value of the outstanding stock of which is owned, directly or indirectly, by five or fewer individuals (as defined in the Code to include certain entities), and (8)&#160;that meets certain other tests, described below, regarding the nature of its income and assets. The Code provides that conditions (1)&#160;through (5), inclusive, must be met during the entire taxable year and that condition (6)&#160;must be met during at least 335&#160;days of a taxable year of twelve (12) months, or during a proportionate part of a taxable year of less than twelve (12) months. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">We may redeem, at our option, a sufficient number of shares or restrict the transfer thereof to bring or maintain the ownership of the shares in conformity with the requirements of the Code. In addition, our Declaration of Trust includes restrictions regarding the transfer of our shares that are intended to assist us in continuing to satisfy requirements (6)&#160;and (7). Moreover, if we comply with regulatory rules pursuant to which we are required to send annual letters to our shareholders requesting information regarding the actual ownership of our shares, and we do not know, or exercising reasonable diligence would not have known, whether we failed to meet requirement (7)&#160;above, we will be treated as having met the requirement. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">The Code allows a REIT to own wholly-owned corporate subsidiaries which are &#8220;qualified REIT subsidiaries.&#8221; The Code provides that a qualified REIT subsidiary is not treated as a separate corporation, and all of its assets, liabilities and items of income, deduction and credit are treated as assets, liabilities and items of income, deduction and credit of the REIT. Thus, in applying the requirements described herein, our qualified REIT subsidiaries will be ignored, and all assets, liabilities and items of income, deduction and credit of such subsidiaries will be treated as our assets, liabilities and items of income, deduction and credit. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">A REIT may also hold any direct or indirect interest in a corporation that qualifies as a &#8220;taxable REIT subsidiary,&#8221; as long as the REIT&#8217;s aggregate holdings of taxable REIT subsidiary securities do not exceed 20% of the value of the REIT&#8217;s total assets at the close of each quarter. A taxable REIT subsidiary is a fully </div>
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        <div style="width:456pt; line-height:12pt;">taxable corporation that generally is permitted to engage in businesses (other than certain activities relating to lodging and health care facilities), own assets, and earn income that, if engaged in, owned, or earned by the REIT, might jeopardize REIT status or result in the imposition of penalty taxes on the REIT. To qualify as a taxable REIT subsidiary, the subsidiary and the REIT must make a joint election to treat the subsidiary as a taxable REIT subsidiary. A taxable REIT subsidiary also includes any corporation (other than a REIT or a qualified REIT subsidiary) in which a taxable REIT subsidiary directly or indirectly owns more than 35% of the total voting power or value. See &#8220;Asset Tests&#8221; below. A taxable REIT subsidiary will pay tax at regular corporate income tax rates on any taxable income it earns. Moreover, the Code contains rules, including rules requiring the imposition of taxes on a REIT at the rate of 100% on certain reallocated income and expenses, to ensure that contractual arrangements between a taxable REIT subsidiary and its parent REIT are at arm&#8217;s-length. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">In the case of a REIT which is a partner in a partnership, Treasury Regulations provide that the REIT will be deemed to own its proportionate share of each of the assets of the partnership and will be deemed to be entitled to the income of the partnership attributable to such share for purposes of satisfying the gross income and assets tests (as discussed below). In addition, the character of the assets and items of gross income of the partnership will retain the same character in the hands of the REIT. Thus, our proportionate share (based on equity capital) of the assets, liabilities, and items of gross income of the partnerships in which we own an interest are treated as our assets, liabilities and items of gross income for purposes of applying the requirements described herein. The treatment described above also applies with respect to the ownership of interests in limited liability companies or other entities that are treated as partnerships for tax purposes. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">A significant number of our investments are held through partnerships. If any such partnerships were treated as an association, the entity would be taxable as a corporation and therefore would be subject to an entity level tax on its income. In such a situation, the character of our assets and items of gross income would change and might preclude us from qualifying as a REIT. We believe that each partnership in which we hold a material interest (either directly or indirectly) is properly treated as a partnership for tax purposes (and not as an association taxable as a corporation). </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Special rules apply to a REIT, a portion of a REIT, or a qualified REIT subsidiary that is a taxable mortgage pool. An entity or portion thereof may be classified as a taxable mortgage pool under the Code&#160;if: </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.19pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:7.19pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">substantially all of the assets consist of debt obligations or interests in debt obligations; </div>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.2pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:7.2pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">more than 50% of those debt obligations are real estate mortgage loans or interests in real estate mortgage loans as of specified testing dates; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.19pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:7.19pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">the entity has issued debt obligations that have two or more maturities; and </div>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.39pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:7.39pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">the payments required to be made by the entity on its debt obligations &#8220;bear a relationship&#8221; to the payments to be received by the entity on the debt obligations that it holds as assets. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Under Treasury Regulations, if less than 80% of the assets of an entity (or the portion thereof) consist of debt obligations, these debt obligations are considered not to comprise &#8220;substantially all&#8221; of its assets, and therefore the entity would not be treated as a taxable mortgage pool. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">An entity or portion thereof that is classified as a taxable mortgage pool is generally treated as a taxable corporation for federal income tax purposes. However, the portion of the REIT&#8217;s assets, held directly or through a qualified REIT subsidiary, that qualifies as a taxable mortgage pool is treated as a qualified REIT subsidiary that is not subject to corporate income tax and therefore the taxable mortgage pool classification does not change that treatment. The classification of a REIT, qualified REIT subsidiary or portion thereof as a taxable mortgage pool could, however, result in taxation of a REIT and certain of its shareholders as described below. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">IRS guidance indicates that a portion of income from a taxable mortgage pool arrangement, if any, could be treated as &#8220;excess inclusion income.&#8221; Excess inclusion income is an amount, with respect to any calendar quarter, equal to the excess, if any, of&#8201; (i)&#160;income allocable to the holder of a REMIC residual interest or taxable mortgage pool interest over (ii) the sum of an amount for each day in the calendar </div>
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        <div style="width:456pt; line-height:12pt;">quarter equal to the product of&#8201; (a)&#160;the adjusted issue price at the beginning of the quarter multiplied by (b)&#160;120% of the long-term federal rate (determined on the basis of compounding at the close of each calendar quarter and properly adjusted for the length of such quarter). Under such guidance, such income would be allocated among our shareholders in proportion to dividends paid and, generally, may not be offset by net operating losses of the shareholder, would be taxable to tax exempt shareholders who are subject to the unrelated business income tax rules of the Code and would subject non-U.S. shareholders to a 30% withholding tax (without exemption or reduction of the withholding rate). To the extent that excess inclusion income is allocated from a taxable mortgage pool to any disqualified organizations that hold our shares, we may be taxable on this income at the highest applicable corporate tax rate (currently 21%). Because this tax would be imposed on the REIT, all of the REIT&#8217;s shareholders, including shareholders that are not disqualified organizations, would bear a portion of the tax cost associated with the classification of any portion of our assets as a taxable mortgage pool. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">If we own less than 100% of the ownership interests in a subsidiary that is a taxable mortgage pool, the foregoing rules would not apply. Rather, the subsidiary would be treated as a corporation for federal income tax purposes and would potentially be subject to corporate income tax. In addition, this characterization would affect our REIT income and asset test calculations and could adversely affect our ability to qualify as a REIT. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">In the past, we have held certain investments which give rise to excess inclusion income. Currently, we do not hold and do not intend to make investments or enter into financing and securitization transactions that are expected to give rise to our being considered to own an interest, directly or indirectly, in one or more taxable mortgage pools. However, if we were to make such investments or enter into such transactions, the foregoing consequences could apply. Prospective holders are urged to consult their own tax advisors regarding the tax consequences of the taxable mortgage pool rules to them in light of their particular circumstances. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;"><font style="font-style:italic;font-weight:bold;">Income Tests.</font>&nbsp;&nbsp;&nbsp;In order to maintain qualification as a REIT, we must satisfy annually certain gross income requirements. First, at least 75% of our gross income (excluding gross income from prohibited transactions) for each taxable year must be derived directly or indirectly from investments relating to real property or mortgages on real property (including &#8220;rents from real property;&#8221; gain from the sale of real property other than property held for sale to customers in the ordinary course of business; dividends from, and gain from the sale of shares of, other qualifying REITs; certain interest described further below; and certain income derived from a REMIC) or from certain types of qualified temporary investments. Second, at least 95% of our gross income (excluding gross income from prohibited transactions) for each taxable year must be derived from income that qualifies under the foregoing 75% gross income test, other types of dividends and interest, gain from the sale or disposition of stock or securities and certain other specified sources. Any income from a hedging transaction that is clearly and timely identified and hedges indebtedness incurred or to be incurred to acquire or carry real estate assets will not constitute gross income, rather than being treated as qualifying or nonqualifying income, for purposes of the 75% or 95% gross income tests. A hedging transaction also includes a transaction entered into to manage foreign currency risks with respect to items of income and gain (or any property which generates such income or gain) that would be qualifying income under the 75% or 95% gross income tests, but only if such transaction is clearly identified before the close of the day it was acquired, originated or entered into. In addition, certain foreign currency gains will be excluded from gross income for purposes of one or both of the gross income tests. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Rents received by us will qualify as &#8220;rents from real property&#8221; in satisfying the gross income requirements for a REIT described above only if several conditions are met. First, the amount of rent must not be based in whole or in part on the income or profits of any person. However, an amount received or accrued generally will not be excluded from the term &#8220;rents from real property&#8221; solely by reason of being based on a fixed&#160;percentage or&#160;percentages of receipts or sales. Second, the Code provides that rents received from a tenant will not qualify as &#8220;rents from real property&#8221; in satisfying the gross income tests if we, or an owner of 10% or more of our shares, actually or constructively own 10% or more of such tenant. Third, if rent attributable to personal property, leased in connection with a lease of real property, is greater than 15% of the total rent received under the lease, then the portion of rent attributable to such personal property (based on the ratio of fair market value of personal and real property) will not qualify as &#8220;rents </div>
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        <div style="width:456pt; line-height:12pt;">from real property.&#8221; Finally, in order for rents received to qualify as &#8220;rents from real property,&#8221; we generally must not operate or manage the property (subject to a de minimis exception as described below) or furnish or render services to the tenants of such property, other than through an independent contractor from whom we derive no revenue or through a taxable REIT subsidiary. We may, however, directly perform certain services that are &#8220;usually or customarily rendered&#8221; in connection with the rental of space for occupancy only and are not otherwise considered &#8220;rendered to the occupant&#8221; of the property (&#8220;Permissible Services&#8221;). </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Rents received generally will qualify as rents from real property notwithstanding the fact that we provide services that are not Permissible Services so long as the amount received for such services meets a de minimis standard. The amount received for &#8220;impermissible services&#8221; with respect to a property (or, if services are available only to certain tenants, possibly with respect to such tenants) cannot exceed one&#160;percent of all amounts received, directly or indirectly, by us with respect to such property (or, if services are available only to certain tenants, possibly with respect to such tenants). The amount that we will be deemed to have received for performing &#8220;impermissible services&#8221; will be the greater of the actual amounts so received or 150% of the direct cost to us of providing those services. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">We believe that substantially all of our rental income will be qualifying income under the gross income tests, and that our provision of services will not cause the rental income to fail to be qualifying income under those tests. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Generally, interest on debt secured by a mortgage on real property or interests in real property qualifies for purposes of satisfying the 75% gross income test described above. However, if the highest principal amount of a loan outstanding during a taxable year exceeds the fair market value of the real property securing the loan as of the date the REIT agreed to originate or acquire the loan, a proportionate amount of the interest income from such loan will not be qualifying income for purposes of the 75% gross income test, but will be qualifying income for purposes of the 95% gross income test. In addition, any interest amount that is based in whole or in part on the income or profits of any person does not qualify for purposes of the foregoing 75% and 95% income tests except (a)&#160;amounts that are based on a fixed&#160;percentage or&#160;percentages of receipts or sales and (b)&#160;amounts that are based on the income or profits of a debtor, as long as the debtor derives substantially all of its income from the real property securing the debt from leasing substantially all of its interest in the property, and only to the extent that the amounts received by the debtor would be qualifying &#8220;rents from real property&#8221; if received directly by the REIT. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">If a loan contains a provision that entitles a REIT to a&#160;percentage of the borrower&#8217;s gain upon the sale of the real property securing the loan or a&#160;percentage of the appreciation in the property&#8217;s value as of a specific date, income attributable to that loan provision will be treated as gain from the sale of the property securing the loan, which is generally qualifying income for purposes of both gross income tests. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">If we fail to satisfy one or both of the 75% or 95% gross income tests for any taxable year, we may nevertheless qualify as a REIT for such year if such failure was due to reasonable cause and not willful neglect and we file a schedule describing each item of our gross income for such taxable year in accordance with Treasury Regulations, so long as any incorrect information on the schedule was not due to fraud with intent to evade tax). It is not possible, however, to state whether in all circumstances we would be entitled to the benefit of this relief provision. Even if this relief provision applied, a 100% penalty tax would be imposed on the amount by which we failed the 75% gross income test or the amount by which 95% of our gross income exceeds the amount of income qualifying under the 95% gross income test (whichever amount is greater), multiplied by a fraction intended to reflect our profitability. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Subject to certain safe harbor exceptions, any gain realized by us on the sale of any property held as inventory or other property held primarily for sale to customers in the ordinary course of business will be treated as income from a prohibited transaction that is subject to a 100% penalty tax. Such prohibited transaction income may also have an adverse effect upon our ability to qualify as a REIT. We have not sought and do not intend to seek a ruling from the IRS regarding any dispositions. Accordingly, there can be no assurance that the IRS will not successfully assert a contrary position with respect to our dispositions. If all or a significant portion of our dispositions were treated as prohibited transactions, we would incur a significant U.S. federal tax liability, which could have a material adverse effect on our results of operations. </div>
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        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">We will be subject to tax at the maximum corporate rate on any income from foreclosure property, other than income that otherwise would be qualifying income for purposes of the 75% gross income test, less expenses directly connected with the production of that income. However, gross income from foreclosure property will qualify under the 75% and 95% gross income tests. Foreclosure property is any real property, including interests in real property, and any personal property incident to such real property (1)&#160;that is acquired by a REIT as the result of the REIT having bid on such property at foreclosure, or having otherwise reduced such property to ownership or possession by agreement or process of law, after there was a default or default was imminent on a lease of such property or on indebtedness that such property secured; (2)&#160;for which the related loan was acquired by the REIT at a time when the default was not imminent or anticipated; and (3)&#160;for which the REIT makes a proper election to treat the property as foreclosure property. Any gain from the sale of property for which a foreclosure property election has been made will not be subject to the 100% tax on gains from prohibited transactions described above, even if the property would otherwise constitute inventory or dealer property. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">A REIT will not be considered to have foreclosed on a property where the REIT takes control of the property as a mortgagee-in-possession and cannot receive any profit or sustain any loss except as a creditor of the mortgagor. Property generally ceases to be foreclosure property at the end of the third taxable year following the taxable year in which the REIT acquired the property, unless a longer extension is granted by the Secretary of the Treasury or the grace period terminates earlier due to certain nonqualifying income or activities generated with respect to the property. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;"><font style="font-style:italic;font-weight:bold;">Asset Tests.</font>&nbsp;&nbsp;&nbsp;At the close of each quarter of our taxable year, we must also satisfy the following tests relating to the nature of our assets. At least 75% of the value of our total assets, including our allocable share of assets held by partnerships in which we own an interest, must be represented by real estate assets, stock or debt instruments held for not more than one year purchased with the proceeds of an offering of equity securities or a long-term (at least five&#160;years) public debt offering by us, cash, cash items (including certain receivables) and government securities. For this purpose, real estate assets include interests in real property, such as land, buildings, leasehold interests in real property, stock of other corporations that qualify as REITs, and certain kinds of mortgage-backed securities (including regular or residual interests in a REMIC to the extent provided in the Code) and mortgage loans. In addition, not more than 25% of our total assets may be represented by securities other than those in the 75% asset class. Not more than 20% of the value of our total assets may be represented by securities of one or more taxable REIT subsidiaries (as defined above under &#8220;Requirements for Qualification&#8221;). Except for investments included in the 75% asset class, securities in a taxable REIT subsidiary or qualified REIT subsidiary and certain partnership interests and debt obligations, (1)&#160;not more than 5% of the value of our total assets may be represented by securities of any one issuer (the &#8220;5% asset test&#8221;), (2)&#160;we may not hold securities that possess more than 10% of the total voting power of the outstanding securities of a single issuer (the &#8220;10% voting securities test&#8221;) and (3)&#160;we may not hold securities that have a value of more than 10% of the total value of the outstanding securities of any one issuer (the &#8220;10% value test&#8221;). </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">The following assets are not treated as &#8220;securities&#8221; held by us for purposes of the 10% value test (i)&#160;&#8220;straight debt&#8221; meeting certain requirements, unless we hold (either directly or through our &#8220;controlled&#8221; taxable REIT subsidiaries) certain other securities of the same corporate or partnership issuer that have an aggregate value greater than 1% of such issuer&#8217;s outstanding securities; (ii) loans to individuals or estates; (iii) certain rental agreements calling for deferred rents or increasing rents that are subject to Section&#160;467 of the Code, other than with certain related persons; (iv) obligations to pay us amounts qualifying as &#8220;rents from real property&#8221; under the 75% and 95% gross income tests; (v)&#160;securities issued by a state or any political subdivision of a state, the District of Columbia, a foreign government, any political subdivision of a foreign government, or the Commonwealth of Puerto Rico, but only if the determination of any payment received or accrued under the security does not depend in whole or in part on the profits of any person not described in this category, or payments on any obligation issued by such an entity; (vi) securities issued by another qualifying REIT; and (vii) other arrangements identified in Treasury Regulations (which have not yet been issued or proposed). In addition, any debt instrument issued by a partnership will not be treated as a &#8220;security&#8221; under the 10% value test if at least 75% of the partnership&#8217;s gross income (excluding gross income from prohibited transactions) is derived from sources meeting the requirements of the 75% gross income test. If the partnership fails to meet the 75% gross income test, then the debt instrument issued by the partnership nevertheless will not be treated as a &#8220;security&#8221; to the extent of our interest as a partner in </div>
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        <div style="width:456pt; line-height:12pt;">the partnership. Also, in looking through any partnership to determine our allocable share of any securities owned by the partnership, our share of the assets of the partnership, solely for purposes of applying the 10% value test will correspond not only to our interest as a partner in the partnership but also to our proportionate interest in certain debt securities issued by the partnership. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">We may hold mezzanine loans that are secured by equity interests in a non-corporate entity that directly or indirectly owns real property. IRS Revenue Procedure 2003-65 provides a safe harbor pursuant to which a mezzanine loan to such a non-corporate entity, if it meets each of the requirements contained in the Revenue Procedure, will be treated by the IRS as a real estate asset for purposes of the REIT asset tests, and interest derived from it will be treated as qualifying mortgage interest for purposes of the 75% gross income test. Although the Revenue Procedure provides a safe harbor on which taxpayers may rely, it does not prescribe rules of substantive tax law. Moreover, not all of the mezzanine loans that we hold meet all of the requirements for reliance on this safe harbor. We have invested, and intend to continue to invest, in mezzanine loans in a manner that will enable us to continue to satisfy the gross income and asset tests. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">We may also hold certain participation interests, or &#8220;B-Notes,&#8221; in mortgage loans and mezzanine loans&#160;originated by other lenders. A B-Note is an interest created in an underlying loan by virtue of a participation or similar agreement, to which the originator of the loan is a party, along with one or more participants. The borrower on the underlying loan is typically not a party to the participation agreement. The performance of a participant&#8217;s investment depends upon the performance of the underlying loan, and if the underlying borrower defaults, the participant typically has no recourse against the originator of the loan. The originator often retains a senior position in the underlying loan, and grants junior participations, which will be a first loss position in the event of a default by the borrower. The appropriate treatment of participation interests for federal income tax purposes is not entirely certain. We believe that we have invested, and intend to continue to invest, in participation interests that qualify as real estate assets for purposes of the asset tests, and that generate interest that will be treated as qualifying mortgage interest for purposes of the 75% gross income test, but no assurance can be given that the IRS will not challenge our treatment of these participation interests. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">We believe that substantially all of our assets consist of&#8201; (1)&#160;real properties, (2)&#160;stock or debt investments that earn qualified temporary investment income, (3)&#160;other qualified real estate assets and (4)&#160;cash, cash items and government securities. We also believe that the value of our securities in our taxable REIT subsidiaries will not exceed 20% of the value of our total assets. We may also invest in securities of other entities, provided that such investments will not prevent us from satisfying the asset and income tests for REIT qualification set forth above. If any interest we hold in any REIT or other category of permissible investment described above does not qualify as such, we would be subject to the 5% asset test and the 10%&#160;voting securities and value tests with respect to such investment. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">After initially meeting the asset tests at the close of any quarter, we will not lose our status as a REIT for failure to satisfy the asset tests at the end of a later quarter solely by reason of changes in asset values. If we inadvertently fail one or more of the asset tests at the end of a calendar quarter because we acquire securities or other property during the quarter, we can cure this failure by disposing of sufficient non qualifying assets within 30&#160;days after the close of the calendar quarter in which it arose. If we were to fail any of the asset tests at the end of any quarter without curing such failure within 30&#160;days after the end of such quarter, we would fail to qualify as a REIT, unless we were to qualify under certain relief provisions. Under one of these relief provisions, if we were to fail the 5% asset test, the 10% voting securities test, or the 10% value test, we nevertheless would continue to qualify as a REIT if the failure was due to the ownership of assets having a total value not exceeding the lesser of 1% of our assets at the end of the relevant quarter or $10,000,000, and we were to dispose of such assets (or otherwise meet such asset tests) within six&#160;months after the end of the quarter in which the failure was identified. If we were to fail to meet any of the REIT asset tests for a particular quarter, but we did not qualify for the relief for de minimis failures that is described in the preceding sentence, then we would be deemed to have satisfied the relevant asset test if: (i)&#160;following our identification of the failure, we were to file a schedule with a description of each asset that caused the failure; (ii) the failure was due to reasonable cause and not due to willful neglect; (iii) we were to dispose of the non-qualifying asset (or otherwise meet the relevant asset test) within six&#160;months after the last day of the quarter in which the failure was identified, and (iv) we were to pay a penalty tax equal to the greater of&#8201; $50,000, or the highest corporate tax rate multiplied by the net income </div>
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        <div style="width:456pt; line-height:12pt;">generated by the non-qualifying asset during the period beginning on the first date of the failure and ending on the date we dispose of the asset (or otherwise cure the asset test failure). It is not possible to predict whether in all circumstances we would be entitled to the benefit of these relief provisions. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;"><font style="font-style:italic;font-weight:bold;">Annual Distribution Requirement.</font>&nbsp;&nbsp;&nbsp;With respect to each taxable year, we must distribute to our shareholders as dividends (other than capital gain dividends) at least 90% of our taxable income. Specifically, we must distribute an amount equal to (1)&#160;90% of the sum of our &#8220;REIT taxable income&#8221; (determined without regard to the deduction for dividends paid and by excluding any net capital gain), and any after-tax net income from foreclosure property, minus (2)&#160;the sum of certain items of&#8201; &#8220;excess noncash income&#8221; such as income attributable to leveled stepped rents, cancellation of indebtedness and original issue discount. REIT taxable income is generally computed in the same manner as taxable income of ordinary corporations, with several adjustments, such as a deduction allowed for dividends paid, but not for dividends received. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">We will be subject to tax on amounts not distributed at regular United States federal corporate income tax rates. In addition, a nondeductible 4% excise tax is imposed on the excess of&#8201; (1)&#160;85% of our ordinary income for the year plus 95% of capital gain net income for the year and the undistributed portion of the required distribution for the prior year over (2)&#160;the actual distribution to shareholders during the year (if any). Net operating losses generated by us may be carried forward but not carried back and used by us for 20&#160;years to reduce REIT taxable income and the amount that we will be required to distribute in order to remain qualified as a REIT. As a REIT, our net capital losses may be carried forward for five&#160;years (but not carried back) and used to reduce capital gains. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">In general, a distribution must be made during the taxable year to which it relates to satisfy the distribution test and to be deducted in computing REIT taxable income. However, we may elect to treat a dividend declared and paid after the end of the year (a &#8220;subsequent declared dividend&#8221;) as paid during such year for purposes of complying with the distribution test and computing REIT taxable income, if the dividend is (1)&#160;declared before the regular or extended due date of our tax return for such year and (2)&#160;paid not later than the date of the first regular dividend payment made after the declaration, but in no case later than 12&#160;months after the end of the year. For purposes of computing the nondeductible 4% excise tax, a subsequent declared dividend is considered paid when actually distributed. Furthermore, any dividend that is declared by us in October, November or December of a calendar year, and payable to shareholders of record as of a specified date in such quarter of such year will be deemed to have been paid by us (and received by shareholders) on December&#160;31 of such calendar year, but only if such dividend is actually paid by us in January of the following calendar year. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">For purposes of complying with the distribution test for a taxable year as a result of an adjustment in certain of our items of income, gain or deduction by the IRS or us, we may be permitted to remedy such failure by paying a &#8220;deficiency dividend&#8221; in a later year together with interest. Such deficiency dividend may be included in our deduction of dividends paid for the earlier year for purposes of satisfying the distribution test. For purposes of the nondeductible 4% excise tax, the deficiency dividend is taken into account when paid, and any income giving rise to the deficiency adjustment is treated as arising when the deficiency dividend is paid. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">The IRS has published guidance providing that a publicly-traded REIT may satisfy the annual distribution requirement with distributions consisting of its stock and at least a minimum&#160;percentage of cash. Pursuant to this IRS guidance, a REIT may treat the entire amount of a distribution consisting of both stock and cash as a qualifying distribution for purposes of the annual distribution requirement provided that the following requirements are met: (1)&#160;the distribution is made by the REIT to its shareholders with respect to its stock; (2)&#160;stock of the REIT is publicly traded on an established securities market in the United States; (3)&#160;the distribution is declared on or after August&#160;11, 2017; (4)&#160;pursuant to such declaration, each shareholder may elect to receive its proportionate share of the declared distribution in either cash or stock of the REIT of equivalent value, subject to a limitation on the amount of cash to be distributed in the aggregate to all shareholders (the &#8220;Cash Limitation&#8221;), provided that&#8201;&#8212;&#8201;(a)&#160;such Cash Limitation is not less than 20% of the aggregate declared distribution, and (b)&#160;if too many shareholders elect to receive cash, each shareholder electing to receive cash will receive a pro&#160;rata amount of cash corresponding to the shareholder&#8217;s respective entitlement under the declaration, but in no event will any </div>
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        <div style="width:456pt; line-height:12pt;">shareholder electing to receive cash receive less than 10% of the shareholder&#8217;s entire entitlement under the declaration in cash; (5)&#160;the calculation of the number of shares to be received by any shareholder will be determined, as close as practicable to the payment date, based upon a formula utilizing market prices that is designed to equate in value the number of shares to be received with the amount of cash that could be received instead; and (6)&#160;with respect to any shareholder participating in a dividend reinvestment plan (&#8220;DRIP&#8221;), the stock received by that shareholder pursuant to the DRIP is treated as received in exchange for cash received in the distribution. </div>
        <div style="text-indent:20pt; margin-top:5.61pt; width:456pt; line-height:12pt;">We believe that we have distributed and intend to continue to distribute to our shareholders in a timely manner such amounts sufficient to satisfy the annual distribution requirements. However, it is possible that timing differences between the accrual of income and its actual collection, and the need to make nondeductible expenditures (such as capital improvements or principal payments on debt) may cause us to recognize taxable income in excess of our net cash receipts, thus increasing the difficulty of compliance with the distribution requirement. In addition, excess inclusion income, if any, might be non-cash accrued income, or &#8220;phantom&#8221; taxable income, which could therefore adversely affect our ability to satisfy our distribution requirements. In order to meet the distribution requirement, we might find it necessary to arrange for short-term, or possibly long-term, borrowings. </div>
        <div style="text-indent:20pt; margin-top:5.62pt; width:456pt; line-height:12pt;"><font style="font-style:italic;font-weight:bold;">Failure to Qualify.</font>&nbsp;&nbsp;&nbsp;Commencing with our taxable year beginning January&#160;1, 2005, if we were to fail to satisfy one or more requirements for REIT qualification, other than an asset or income test violation of a type for which relief is otherwise available as described above, we would retain our REIT qualification if the failure was due to reasonable cause and not willful neglect, and if we were to pay a penalty of&#8201; $50,000 for each such failure. It is not possible to predict whether in all circumstances we would be entitled to the benefit of this relief provision. If we fail to qualify as a REIT for any taxable year, and if certain relief provisions of the Code do not apply, we would be subject to federal income tax on our taxable income at regular corporate rates. Distributions to shareholders in any year in which we fail to qualify will not be deductible from our taxable income nor will they be required to be made. As a result, our failure to qualify as a REIT would reduce the cash available for distribution by us to our shareholders. In addition, if we fail to qualify as a REIT, all distributions to shareholders will be taxable as ordinary income, to the extent of our current and accumulated earnings and profits. Subject to certain limitations of the Code, corporate distributees may be eligible for the dividends-received deduction and shareholders taxed as individuals may be eligible for a reduced tax rate on &#8220;qualified dividend income&#8221; from regular C corporations. </div>
        <div style="text-indent:20pt; margin-top:5.61pt; width:456pt; line-height:12pt;">If our failure to qualify as a REIT is not due to reasonable cause but results from willful neglect, we would not be permitted to elect REIT status for the four taxable&#160;years after the taxable year for which such disqualification is effective. In the event we were to fail to qualify as a REIT in one year and subsequently requalify in a later year, we may elect to recognize taxable income based on the net appreciation in value of our assets as a condition to requalification. In the alternative, we may be taxed on the net appreciation in value of our assets if we sell properties within ten&#160;years of the date we requalify as a REIT under federal income tax laws. </div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-weight:bold;">Taxation of Shareholders </div>
        <div style="text-indent:20pt; margin-top:4.61pt; width:456pt; line-height:12pt;">As used herein, the term &#8220;U.S. shareholder&#8221; means a beneficial owner of our common shares who (for United States federal income tax purposes) (1)&#160;is a citizen or resident of the United States, (2)&#160;is a corporation or other entity treated as a corporation for federal income tax purposes created or organized in or under the laws of the United States or of any political subdivision thereof, (3)&#160;is an estate the income of which is subject to United States federal income taxation regardless of its source or (4)&#160;is a trust whose administration is subject to the primary supervision of a United States court and which has one or more United States persons who have the authority to control all substantial decisions of the trust or a trust that has a valid election to be treated as a U.S. person pursuant to applicable Treasury Regulations. As used herein, the term &#8220;non U.S. shareholder&#8221; means a beneficial owner of our common shares who is not a U.S.&#160;shareholder or a partnership. </div>
        <div style="text-indent:20pt; margin-top:5.62pt; width:456pt; line-height:12pt;">If a partnership (including any entity treated as a partnership for U.S. federal income tax purposes) is a shareholder, the tax treatment of a partner in the partnership generally will depend upon the status of the partner and the activities of the partnership. A shareholder that is a partnership and the partners in such partnership should consult their own tax advisors concerning the U.S. federal income tax consequences of acquiring, owning and disposing of our common shares. </div>
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        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-style:italic;font-weight:bold;">Taxation of Taxable U.S. Shareholders </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">As long as we qualify as a REIT, distributions made to our U.S. shareholders out of current or accumulated earnings and profits (and not designated as capital gain dividends) will be taken into account by them as ordinary income and corporate shareholders will not be eligible for the dividends-received deduction as to such amounts. For purposes of computing our earnings and profits, depreciation for depreciable real estate will be computed on a straight-line basis over a 40-year period. For purposes of determining whether distributions on the shares constitute dividends for tax purposes, our earnings and profits will be allocated first to distributions with respect to the Series&#160;C Preferred Shares and all other series of preferred shares that are equal in rank as to distributions and upon liquidation with the Series&#160;C Preferred Shares, and second to distributions with respect to our common shares. There can be no assurance that we will have sufficient earnings and profits to cover distributions on any common shares. Certain &#8220;qualified dividend income&#8221; received by domestic non-corporate shareholders may be eligible for preferential dividend rates. Dividends paid by a REIT generally do not qualify as &#8220;qualified dividend income&#8221; because a REIT is not generally subject to federal income tax on the portion of its REIT taxable income distributed to its shareholders. Therefore, our dividends will continue to be subject to tax at ordinary income rates, subject to two narrow exceptions. Under the first exception, dividends received from a REIT may be treated as &#8220;qualified dividend income&#8221; eligible for reduced tax rates to the extent that the REIT itself has received qualified dividend income from other corporations (such as taxable REIT subsidiaries) in which the REIT has invested. Under the second exception, dividends paid by a REIT in a taxable year may be treated as qualified dividend income in an amount equal to the sum of&#8201; (i)&#160;the excess of the REIT&#8217;s &#8220;REIT taxable income&#8221; for the preceding taxable year over the corporate-level federal income tax payable by the REIT for such preceding taxable year and (ii) the excess of the REIT&#8217;s income that was subject to the Built-in Gains Tax (as described above) in the preceding taxable year over the tax payable by the REIT on such income for such preceding taxable year. We do not expect to distribute a material amount of qualified dividend income, if any. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Recent tax reform legislation formerly known as the Tax Cuts and Jobs Act created a new 20% deduction for certain amounts earned by non-corporate taxpayers through certain pass-through entities as well as REIT ordinary dividends earned by non-corporate taxpayers. As corporations, regulated investment companies are not eligible for the qualified business income deduction. The deduction for REIT ordinary dividends is not subject to limitations applicable to pass-through income generally. The application of the 20% qualified business income deduction is still uncertain. Prospective investors should consult with their own tax advisors regarding the application of these rules. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Distributions that are properly designated as capital gain dividends will be taxed as gains from the sale or exchange of a capital asset held for more than one year (to the extent they do not exceed our actual net capital gain for the taxable year) without regard to the period for which the shareholder has held its shares. However, corporate shareholders may be required to treat up to 20% of certain capital gain dividends as ordinary income under the Code. Capital gain dividends, if any, will be allocated among different classes of shares in proportion to the allocation of earnings and profits discussed above. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Distributions in excess of our current and accumulated earnings and profits will constitute a non-taxable return of capital to a shareholder to the extent that such distributions do not exceed the adjusted basis of the shareholder&#8217;s shares, and will result in a corresponding reduction in the shareholder&#8217;s basis in the shares. Any reduction in a shareholder&#8217;s tax basis for its shares will increase the amount of taxable gain or decrease the deductible loss that will be realized upon the eventual disposition of the shares. We will notify shareholders at the end of each year as to the portions of the distributions which constitute ordinary income, capital gain or a return of capital. Any portion of such distributions that exceeds the adjusted basis of a U.S. shareholder&#8217;s shares will be taxed as capital gain from the disposition of shares, provided that the shares are held as capital assets in the hands of the U.S. shareholder. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Aside from the different income tax rates applicable to ordinary income and capital gain dividends for noncorporate taxpayers, regular and capital gain dividends from us will be treated as dividend income for most other federal income tax purposes. In particular, such dividends will be treated as &#8220;portfolio&#8221; income for purposes of the passive activity loss limitation and shareholders generally will not be able to offset any &#8220;passive losses&#8221; against such dividends. Capital gain dividends and qualified dividend income may be </div>
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        <div style="width:456pt; line-height:12pt;">treated as investment income for purposes of the investment interest limitation contained in Section&#160;163(d) of the Code, which limits the deductibility of interest expense incurred by noncorporate taxpayers with respect to indebtedness attributable to certain investment assets. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">In general, dividends paid by us will be taxable to shareholders in the year in which they are received, except in the case of dividends declared at the end of the year, but paid in the following January, as discussed above. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">In general, a U.S. shareholder will realize capital gain or loss on the disposition of shares equal to the difference between (1)&#160;the amount of cash and the fair market value of any property received on such disposition and (2)&#160;the shareholder&#8217;s adjusted basis of such shares. Such gain or loss will generally be short-term capital gain or loss if the shareholder has not held such shares for more than one year and will be long-term capital gain or loss if such shares have been held for more than one year. Loss upon the sale or exchange of shares by a shareholder who has held such shares for six&#160;months or less (after applying certain holding period rules) will be treated as long-term capital loss to the extent of distributions from us required to be treated by such shareholder as long-term capital gain. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">We may elect to retain and pay income tax on net long-term capital gains. If we make such an election, you, as a holder of shares, will (1)&#160;include in your income as long-term capital gains your proportionate share of such undistributed capital gains, (2)&#160;be deemed to have paid your proportionate share of the tax paid by us on such undistributed capital gains and thereby receive a credit or refund for such amount and (3)&#160;in the case of a U.S. shareholder that is a corporation, appropriately adjust its earnings and profits for the retained capital gains in accordance with Treasury Regulations to be promulgated by the IRS. As a holder of shares you will increase the basis in your shares by the difference between the amount of capital gain included in your income and the amount of tax you are deemed to have paid. Our earnings and profits will be adjusted appropriately. </div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-style:italic;font-weight:bold;">Net Investment Income Tax </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Certain U.S. shareholders that are individuals, estates or certain trusts are generally subject to a 3.8%&#160;tax on &#8220;net investment income,&#8221; which includes, among other things, interest, dividends on and gains from the sale or other disposition of stock, and rents from certain passive activities. Prospective investors should consult their own tax advisors regarding the applicability of this tax to any income and gain in respect to our shares. </div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-style:italic;font-weight:bold;">Taxation of Non-U.S. Shareholders </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">The following discussion is only a summary of the rules governing United States federal income taxation of non-U.S. shareholders such as nonresident alien individuals and foreign corporations. Prospective non-U.S. shareholders should consult with their own tax advisors to determine the impact of federal, state and local income tax laws with regard to an investment in shares, including any reporting requirements. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;"><font style="font-style:italic;font-weight:bold;">Distributions.</font>&nbsp;&nbsp;&nbsp;Distributions that are not attributable to gain from sales or exchanges by us of &#8220;United&#160;States real property interests&#8221; or otherwise effectively connected with the non-U.S. shareholder&#8217;s conduct of a U.S. trade or business and that are not designated by us as capital gain dividends will be treated as dividends of ordinary income to the extent that they are made out of our current or accumulated earnings and profits. Such distributions ordinarily will be subject to a withholding tax equal to 30% of the gross amount of the distribution unless an applicable tax treaty reduces or eliminates that tax. Certain tax treaties limit the extent to which dividends paid by a REIT can qualify for a reduction of the withholding tax on dividends. Our dividends that are attributable to excess inclusion income, if any, will be subject to 30% U.S. withholding tax without reduction under any otherwise applicable tax treaty. See &#8220;&#8212; Taxation of the Company-Requirements for Qualification&#8221; above. Distributions in excess of our current and accumulated earnings and profits will not be taxable to a non-U.S. shareholder to the extent that they do not exceed the adjusted basis of the shareholder&#8217;s shares, but rather will reduce the adjusted basis of such shares. To the extent that such distributions exceed the adjusted basis of a non-U.S. shareholder&#8217;s shares, they will give rise to tax liability if the non-U.S. shareholder would otherwise be subject to tax on any gain from the sale or disposition of its shares, as described below. If a distribution is treated as effectively </div>
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        <div style="width:456pt; line-height:12pt;">connected with the non-U.S. shareholder&#8217;s conduct of a U.S. trade or business, the non-U.S. shareholder generally will be&#160;subject to federal income tax on the distribution at graduated rates, in the same manner as U.S.&#160;shareholders are taxed with respect to such distribution, and a non-U.S. shareholder that is a corporation also may be subject to the 30% branch profits tax (or lower rate under an applicable tax treaty&#160;if any) with respect to the distribution. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">For withholding tax purposes, we are generally required to treat all distributions as if made out of our current or accumulated earnings and profits and thus intend to withhold at the rate of 30% (or a reduced treaty rate if applicable) on the amount of any distribution (other than distributions designated as capital gain dividends) made to a non-U.S. shareholder. We would not be required to withhold at the 30% rate on distributions we reasonably estimate to be in excess of our current and accumulated earnings and profits. If it cannot be determined at the time a distribution is made whether such distribution will be in excess of current and accumulated earnings and profits, the distribution will be subject to withholding at the rate applicable to ordinary dividends. However, the non-U.S. shareholder may seek a refund of such amounts from the IRS if it is subsequently determined that such distribution was, in fact, in excess of our current or&#160;accumulated earnings and profits, and the amount withheld exceeded the non-U.S. shareholder&#8217;s United&#160;States tax liability, if any, with respect to the distribution. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">For any year in which we qualify as a REIT, distributions to non-U.S. shareholders (other than certain investors including &#8220;qualified foreign pension funds&#8221;) who own more than 10% of our shares and that are attributable to gain from sales or exchanges by us of United States real property interests will be taxed under the provisions of the Foreign Investment in Real Property Tax Act of 1980 (&#8220;FIRPTA&#8221;). Under FIRPTA, a non-U.S. shareholder is taxed as if such gain were effectively connected with a United States business. Non-U.S. shareholders who own more than 10% of our shares would thus be taxed at the normal capital gain rates applicable to U.S. shareholders (subject to alternative minimum tax, if applicable,). Also, distributions made to non-U.S. shareholders who own more than 10% of our shares may be subject to a 30% branch profits tax (or lower rate under an applicable tax treaty if any) in the hands of a corporate non-U.S. shareholder. We are required by applicable regulations to withhold the highest applicable corporate tax rate (currently 21%) of any distribution that could be designated by us as a capital gain dividend regardless of the amount actually designated as a capital gain dividend. This amount is creditable against the non-U.S. shareholder&#8217;s FIRPTA tax liability. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">A &#8220;qualified foreign pension fund&#8221; is any trust, corporation, or other organization or arrangement (i)&#160;which is created or organized under the laws of a country other than the United States; (ii) which is established to provide retirement or pension benefits to current or former employees (or their designees) of one or more employers in consideration for services rendered; (iii) which does not have a single participant or beneficiary entitled to more than 5% of its assets or income; (iv) which is subject to government regulation and provides annual information reporting about its beneficiaries to the relevant tax authorities in the country in which it is established or operates; and (v)&#160;as to which, under the laws of the country in which it is established or operates: (a)&#160;contributions to that trust, corporation, organization or arrangement which would otherwise be subject to tax under those laws are deductible or excluded from the gross income of the entity or taxed at a reduced rate, or (b)&#160;taxation of any investment income of the trust, corporation, organization or arrangement is deferred or that income is taxed at a reduced rate. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Distributions made to REIT shareholders, that are attributable to gain from sales or exchanges of United States real property interests will retain their character as gain subject to the rules of FIRPTA discussed above when distributed by such REIT shareholders to their respective shareholders. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">If a non-U.S. shareholder does not own more than 10% of our shares during the one-year period prior to a distribution attributable to gain from sales or exchanges by us of United States real property interests, such distribution will not be considered to be gain effectively connected with a U.S. business as long as the class of shares continues to be regularly traded on an established securities market in the United States. As such, a non-U.S. shareholder who does not own more than 10% of our shares would not be required to file a U.S. federal income tax return by reason of receiving such a distribution. In this case, the distribution will be treated as a REIT dividend to that non-U.S. shareholder and taxed as a REIT dividend that is not a capital gain distribution as described above. In addition, the branch profits tax will not apply to such </div>
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        <div style="width:456pt; line-height:12pt;">distributions. If our common shares cease to be regularly traded on an established securities market in the&#160;United States, all non-U.S. shareholders of our common shares would be subject to taxation under FIRPTA with respect to capital gain distributions attributable to gain from the sale or exchange of United&#160;States real property interests. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;"><font style="font-style:italic;font-weight:bold;">Dispositions.</font>&nbsp;&nbsp;&nbsp;Gain recognized by a non-U.S. shareholder upon a sale or disposition of our common shares generally will not be taxed under FIRPTA if we are a &#8220;domestically controlled REIT,&#8221; defined generally as a REIT in which at all times during a specified testing period less than 50% in value of our shares was held directly or indirectly by non-U.S. persons. We believe, but cannot guarantee, that we have been a &#8220;domestically controlled REIT.&#8221; However, because our shares are publicly traded, no assurance can be given that we will continue to be a &#8220;domestically controlled REIT.&#8221; </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Notwithstanding the general FIRPTA exception for sales of domestically controlled REIT stock discussed above, a disposition of domestically controlled REIT stock will be taxable if the disposition occurs in a wash sale transaction relating to a distribution on such stock. In addition, FIRPTA taxation will apply to substitute dividend payments received in securities lending transactions or sale-repurchase transactions of domestically controlled REIT stock to the extent such payments are made to shareholders in lieu of distributions that would have otherwise been subject to FIRPTA taxation. The foregoing rules regarding wash sales and substitute dividend payments with respect to domestically controlled REIT stock will not apply to stock that is regularly traded on an established securities market within the United States and held by a non-U.S. shareholder that held 10% or less of such stock during the one-year period prior to the related distribution. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">In addition, a non-U.S. shareholder that owns, actually or constructively, 10% or less of a class of our shares through a specified testing period, whether or not our shares are domestically controlled, will not be subject to tax on the sale of its shares under FIRPTA if the shares are regularly traded on an established securities market. If the gain on the sale of shares were to be subject to taxation under FIRPTA, the non-U.S. shareholder would be subject to the same treatment as U.S. shareholders with respect to such gain (subject to alternative minimum tax, if applicable and possible application of the 30% branch profits tax in the case of foreign corporations) and the purchaser would be required to withhold and remit to the IRS&#160;15% of the purchase price. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Gain not subject to FIRPTA will be taxable to a non-U.S. shareholder if&#8201; (1)&#160;investment in the shares is effectively connected with the non-U.S. shareholder&#8217;s U.S. trade or business, in which case the non-U.S. shareholder will be subject to the same treatment as U.S. shareholders with respect to such gain, or (2)&#160;the non-U.S. shareholder is a nonresident alien individual who was present in the United States for 183&#160;days or more during the taxable year and such nonresident alien individual has a &#8220;tax home&#8221; in the United States, in which case the nonresident alien individual will be subject to a 30% tax on the individual&#8217;s capital gain. </div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-style:italic;font-weight:bold;">Taxation of Tax&#8201;&#8212;&#8201;Exempt Shareholders </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Tax-exempt entities, including qualified employee pension and profit sharing trusts and individual retirement accounts (&#8220;Exempt Organizations&#8221;), generally are exempt from federal income taxation. However, they are subject to taxation on their unrelated business taxable income (&#8220;UBTI&#8221;). While investments in real estate may generate UBTI, the IRS has issued a published ruling to the effect that dividend distributions by a REIT to an exempt employee pension trust do not constitute UBTI, provided that the shares of the REIT are not otherwise used in an unrelated trade or business of the exempt employee pension trust. Based on that ruling, amounts distributed by us to Exempt Organizations generally should not constitute UBTI. However, if an Exempt Organization finances its acquisition of our shares with debt, a portion of its income from us, if any, will constitute UBTI pursuant to the &#8220;debt-financed property&#8221; rules under the Code. In addition, our dividends that are attributable to excess inclusion income, if any, will constitute UBTI for most Exempt Organizations. See &#8220;Taxation of the Company-Requirements for Qualification&#8221; above. Furthermore, social clubs, voluntary employee benefit associations, supplemental unemployment benefit trusts, and qualified group legal services plans that are exempt from taxation under specified provisions of the Code are subject to different UBTI rules, which generally will require them to characterize distributions from us as UBTI. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">In addition, a pension trust that owns more than 10% of our shares is required to treat a&#160;percentage of the dividends from us as UBTI (the &#8220;UBTI Percentage&#8221;) in certain circumstances. The UBTI Percentage is </div>
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        <div style="width:456pt; line-height:12pt;">our gross income derived from an unrelated trade or business (determined as if we were a pension trust) divided by our total gross income for the year in which the dividends are paid. The UBTI rule applies only if&#8201; (i)&#160;the UBTI Percentage is at least 5%, (ii) we qualify as a REIT by reason of the modification of the 5/50&#160;Rule that allows the beneficiaries of the pension trust to be treated as holding our shares in proportion to their actuarial interests in the pension trust, and (iii) either (A) one pension trust owns more than 25% of the value of our shares or (B) a group of pension trusts individually holding more than 10% of the value of our capital shares collectively owns more than 50% of the value of our capital shares. </div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-weight:bold;">Information Reporting and Backup Withholding </div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-style:italic;font-weight:bold;">U.S. Shareholders </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">We will report to U.S. shareholders and the IRS the amount of dividends paid during each calendar year, and the amount of tax withheld, if any, with respect thereto. Under the backup withholding rules, a U.S. shareholder may be subject to backup withholding, currently at a rate of 24%, with respect to dividends paid unless such holder (a)&#160;is a corporation or comes within certain other exempt categories and, when required, demonstrates this fact, or (b)&#160;provides a taxpayer identification number, certifies as to no loss of exemption from backup withholding and otherwise complies with the applicable requirements of the&#160;backup withholding rules. A U.S. shareholder who does not provide us with its correct taxpayer identification number also may be subject to penalties imposed by the IRS. Amounts withheld as backup withholding will be creditable against the shareholder&#8217;s income tax liability if proper documentation is supplied. In addition, we may be required to withhold a portion of capital gain distributions made to any shareholders who fail to certify their non-foreign status to us. </div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-style:italic;font-weight:bold;">Non-U.S. Shareholders </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Generally, we must report annually to the IRS the amount of dividends paid to a non-U.S. shareholder, such holder&#8217;s name and address, and the amount of tax withheld, if any. A similar report is sent to the non-U.S. shareholder. Pursuant to tax treaties or other agreements, the IRS may make its reports available to tax authorities in the non-U.S. shareholder&#8217;s country of residence. Payments of dividends or of proceeds from the disposition of stock made to a non-U.S. shareholder may be subject to information reporting and backup withholding unless such holder establishes an exemption, for example, by properly certifying its non-United States status on an IRS Form W-8BEN-E, W-8BEN or another appropriate version of IRS FormW-8. Notwithstanding the foregoing, backup withholding and information reporting may apply if either we have or our paying agent has actual knowledge, or reason to know, that a non-U.S. shareholder is a United States person. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Backup withholding is not an additional tax. Rather, the United States income tax liability of persons subject to backup withholding will be reduced by the amount of tax withheld. If withholding results in an overpayment of taxes, a refund or credit may be obtained, provided that the required information is furnished to the IRS. </div>
        <div style="margin-top:12pt; width:456pt; line-height:11pt;font-style:italic;font-weight:bold;">Foreign Account Tax Compliance Act </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Sections&#160;1471 to 1474 of the Code and the U.S. Treasury Regulations promulgated thereunder (&#8220;FATCA&#8221;) impose certain increased certification requirements and information reporting for Non-U.S. Shareholders. In the event of noncompliance with FATCA, a 30% withholding tax could be imposed on payments of interest or other fixed or determinable annual or periodic income and, after December&#160;31, 2018, gross proceeds from the sale or other disposition of the Interests. FATCA should not apply to Non-U.S. Shareholders who are individuals and provide a properly completed Form W-8. However, payments in respect of Interests to Non-U.S. Shareholders who are individuals could be affected by this withholding if such Non-U.S. Shareholders hold shares through a non-US person (e.g., a foreign bank or broker) that fails to comply with these requirements (even if payments to the Non-U.S. Shareholders would not otherwise have been subject to FATCA withholding). We will not pay any additional amounts to Non-U.S. Shareholders in respect of any amounts withheld. Non-U.S. Shareholders are encouraged to consult their tax advisors regarding the possible implications of FATCA on their investment in shares.</div>
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        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:11pt;font-weight:bold;">SELLING SECURITYHOLDERS </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:11.5pt;">Information about the selling securityholders may be added to this prospectus pursuant to a prospectus supplement.</div>
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        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:11pt;font-weight:bold;">PLAN OF DISTRIBUTION </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;"><font style="font-style:italic;font-weight:bold;">General.</font>&nbsp;&nbsp;&nbsp;We and/or the selling securityholders may sell the securities being offered by this prospectus in one or more of the following ways from time to time: </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.4pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:6.4pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">to/or through underwriters or dealers; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.4pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:6.4pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">to/or through agents; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.39pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:6.39pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">in &#8220;at the market offerings&#8221; to or through a market maker or into an existing trading market, or a securities exchange or otherwise; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.4pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:6.4pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">directly to one or more purchasers; or </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.4pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:6.4pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">through a combination of any of these methods of sale. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">A distribution of the securities offered by this prospectus may also be effected through the issuance of derivative securities, including without limitation, warrants, subscriptions, exchangeable securities, forward delivery contracts and the writing of options. In addition, the manner in which we and/or the selling securityholders may sell some or all of the securities covered by this prospectus includes, without limitation, through: </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.4pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:6.4pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">a block trade in which a broker-dealer will attempt to sell as agent, but may position or resell a portion of the block, as principal, in order to facilitate the transaction; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.39pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:6.39pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">purchases by a broker-dealer, as principal, and resale by the broker-dealer for its account; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.4pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:6.4pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">ordinary brokerage transactions and transactions in which a broker solicits purchasers; or </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.4pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:6.4pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">privately negotiated transactions. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:20pt; margin-top:6pt; width:436pt; line-height:12pt;">We may also enter into hedging transactions. For example, we may: </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.4pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:6.4pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">enter into transactions with a broker-dealer or affiliate thereof in connection with which such broker-dealer or affiliate will engage in short sales of the common shares pursuant to this prospectus, in which case such broker-dealer or affiliate may use common shares received from us to close out its short positions; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.4pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:6.4pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">sell securities short and redeliver such shares to close out our short positions; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.39pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:6.39pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">enter into option or other types of transactions that require us to deliver common shares to a broker-dealer or an affiliate thereof, who will then resell or transfer the common shares under this prospectus; or </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.4pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:6.4pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">loan or pledge the common shares to a broker-dealer or an affiliate thereof who may sell the loaned shares or, in an event of default in the case of a pledge, sell the pledged shares pursuant to this prospectus. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">In addition, we may enter into derivative or hedging transactions with third parties, or sell securities not covered by this prospectus to third parties in privately negotiated transactions. In connection with such a transaction, the third parties may sell securities covered by and pursuant to this prospectus and an applicable prospectus supplement or pricing supplement, as the case may be. If so, the third party may use securities borrowed from us or others to settle such sales and may use securities received from us to close out any related short positions. We may also loan or pledge securities covered by this prospectus and an applicable prospectus supplement to third parties, who may sell the loaned securities or, in an event of default in the case of a pledge, sell the pledged securities pursuant to this prospectus and the applicable prospectus supplement or pricing supplement, as the case may be. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">A prospectus supplement with respect to each series of securities will state the terms of the offering of the securities, including: </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.4pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:6.4pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">the terms of the offering; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:6.4pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:6.4pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">the name or names of any underwriters or agents and the amounts of securities underwritten or purchased by each of them, if any; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="clear:both;font-size:0pt;">&#8203;</div>
      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">46</div>
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    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a></div>
      <div style="margin-top:46pt;margin-left:70pt;width:456pt;">
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:4pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:4pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">the public offering price or purchase price of the securities and the net proceeds to be received by us from the sale; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8.78pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:8.78pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">any delayed delivery arrangements; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8.79pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:8.79pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">the terms of any subscription rights; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8.78pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:8.78pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">any initial public offering price; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8.79pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:8.79pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">any underwriting discounts or agency fees and other items constituting underwriters&#8217; or agents&#8217; compensation; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8.78pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:8.78pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">any discounts or concessions allowed or reallowed or paid to dealers; and </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:8.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">any securities exchange on which the securities may be listed. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">The offer and sale of the securities described in this prospectus by us, the selling securityholders, the underwriters or the third parties described above may be effected from time to time in one or more transactions, including privately negotiated transactions, either: </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8.99pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:8.99pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">at a fixed price or prices, which may be changed; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:8.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">at market prices prevailing at the time of sale, including in &#8220;at the market offerings&#8221;; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:8.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">at prices related to the prevailing market prices; or </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8.99pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:8.99pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">at negotiated prices. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;"><font style="font-style:italic;font-weight:bold;">Selling Shareholders.</font>&nbsp;&nbsp;&nbsp;The selling securityholders may offer our securities in one or more offerings, and if required by applicable law or in connection with an underwritten offering, pursuant to one or more prospectus supplements, and any such prospectus supplement will set forth the terms of the relevant offering as described above. To the extent our securities offered pursuant to a prospectus supplement or otherwise remain unsold, the selling securityholders may offer those securities on different terms pursuant to another prospectus supplement or in a private transaction. Sales by the selling securityholders may not require the provision of a prospectus supplement. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">In addition to the foregoing, each of the selling securityholders may offer our securities at various times in one or more of the following transactions: through short sales, derivative and hedging transactions; by pledge to secure debts and other obligations; through offerings of securities exchangeable, convertible or exercisable for our securities; under forward purchase contracts with trusts, investment companies or other entities (which may, in turn, distribute their own securities); through distribution to its members, partners or shareholders; in exchange or over-the-counter market transactions; and/or in private transactions. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Each of the selling securityholders also may resell all or a portion of our securities that it owns in open market transactions in reliance upon Rule&#160;144 under the Securities Act, or any other available exemption from required registration under the Securities Act, provided it meets the criteria and conforms to the requirements of Rule&#160;144. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;"><font style="font-style:italic;font-weight:bold;">Underwriting Compensation.</font>&nbsp;&nbsp;&nbsp;Any public offering price and any fees, discounts, commissions, concessions or other items constituting compensation allowed or re allowed or paid to underwriters, dealers, agents or remarketing firms may be changed from time to time. Underwriters, dealers, agents and remarketing firms that participate in the distribution of the offered securities may be &#8220;underwriters&#8221; as defined in the Securities Act. Any discounts or commissions they receive from us and/or the selling securityholders and any profits they receive on the resale of the offered securities may be treated as underwriting discounts and commissions under the Securities Act. We will identify any underwriters, agents or dealers and describe their fees, commissions or discounts in the applicable prospectus supplement or pricing supplement, as the case may be. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;"><font style="font-style:italic;font-weight:bold;">Underwriters and Agents.</font>&nbsp;&nbsp;&nbsp;If underwriters are used in a sale, they will acquire the offered securities for their own account. The underwriters may resell the offered securities in one or more transactions, including negotiated transactions. We and/or the selling securityholders may offer the securities to the public either </div>
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      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">47</div>
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      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a></div>
      <div style="margin-top:46pt;margin-left:70pt;width:456pt;">
        <div style="width:456pt; line-height:12pt;">through an underwriting syndicate represented by one or more managing underwriters or through one or more underwriter(s). The underwriters in any particular offering will be identified in the applicable prospectus supplement or pricing supplement, as the case may be. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Unless otherwise specified in connection with any particular offering of securities, the obligations of the underwriters to purchase the offered securities will be subject to certain conditions contained in an underwriting agreement that we and/or the selling securityholders will enter into with the underwriters at the time of the sale to them. The underwriters will be obligated to purchase all of the securities of the series offered if any of the securities are purchased, unless otherwise specified in connection with any particular offering of securities. Any initial offering price and any discounts or concessions allowed, re allowed or paid to dealers may be changed from time to time. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">We and/or selling securityholders may designate agents to sell the offered securities. Unless otherwise specified in connection with any particular offering of securities, the agents will agree to use their best efforts to solicit purchases for the period of their appointment. We and/or selling securityholders may also sell the offered securities to one or more remarketing firms, acting as principals for their own accounts or as agents for us and/or selling securityholders. These firms will remarket the offered securities upon purchasing them in accordance with a redemption or repayment pursuant to the terms of the offered securities. A prospectus supplement or pricing supplement, as the case may be, will identify any remarketing firm and will describe the terms of its agreement, if any, with us and/or selling securityholders and its compensation. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">In connection with offerings made through underwriters or agents, we and/or selling securityholders may enter into agreements with such underwriters or agents pursuant to which we and/or selling securityholders receive our outstanding securities in consideration for the securities being offered to the public for cash. In connection with these arrangements, the underwriters or agents may also sell securities covered by this prospectus to hedge their positions in these outstanding securities, including in short sale transactions. If so, the underwriters or agents may use the securities received from us and/or selling securityholders under these arrangements to close out any related open borrowings of securities. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;"><font style="font-style:italic;font-weight:bold;">Dealers.</font>&nbsp;&nbsp;&nbsp;We and/or selling securityholders may sell the offered securities to dealers as principals. We and/or selling securityholders may negotiate and pay dealers&#8217; commissions, discounts or concessions for their services. The dealer may then resell such securities to the public either at varying prices to be determined by the dealer or at a fixed offering price agreed to with us and/or selling securityholders at the time of resale. Dealers engaged by us and/or selling securityholders may allow other dealers to participate in resales. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;"><font style="font-style:italic;font-weight:bold;">Direct Sales.</font>&nbsp;&nbsp;&nbsp;We and/or selling securityholders may choose to sell the offered securities directly to multiple purchasers or a single purchaser. In this case, no underwriters or agents would be involved. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;"><font style="font-style:italic;font-weight:bold;">Institutional Purchasers.</font>&nbsp;&nbsp;&nbsp;We and/or selling securityholders may authorize agents, dealers or underwriters to solicit certain institutional investors to purchase offered securities on a delayed delivery basis pursuant to delayed delivery contracts providing for payment and delivery on a specified future date. The applicable prospectus supplement or pricing supplement, as the case may be, will provide the details of any such arrangement, including the offering price and commissions payable on the solicitations. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">We and/or selling securityholders may enter into such delayed contracts only with institutional purchasers that we and/or selling securityholders approve. These institutions may include commercial and savings banks, insurance companies, pension funds, investment companies and educational and charitable institutions. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;"><font style="font-style:italic;font-weight:bold;">Subscription Offerings.</font>&nbsp;&nbsp;&nbsp;Direct sales to investors or our shareholders may be accomplished through subscription offerings or through shareholder subscription rights distributed to shareholders. In connection with subscription offerings or the distribution of shareholder subscription rights to shareholders, if all of the underlying securities are not subscribed for, we may sell any unsubscribed securities to third parties directly or through underwriters or agents. In addition, whether or not all of the underlying securities are subscribed for, we may concurrently offer additional securities to third parties directly or through underwriters or agents. If securities are to be sold through shareholder subscription rights, the shareholder </div>
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        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">48</div>
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      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a></div>
      <div style="margin-top:46pt;height:660pt;margin-left:70pt;width:456pt;">
        <div style="width:456pt; line-height:12pt;">subscription rights will be distributed as a dividend to the shareholders for which they will pay no separate consideration. The prospectus supplement with respect to the offer of securities under shareholder subscription rights will set forth the relevant terms of the shareholder subscription rights, including: </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">whether common shares, preferred shares, or warrants for those securities will be offered under the shareholder subscription rights; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.97pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.97pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">the number of those securities or warrants that will be offered under the shareholder subscription rights; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">the period during which and the price at which the shareholder subscription rights will be exercisable; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">the number of shareholder subscription rights then outstanding; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">any provisions for changes to or adjustments in the exercise price of the shareholder subscription rights; and </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.97pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.97pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">any other material terms of the shareholder subscription rights. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;"><font style="font-style:italic;font-weight:bold;">Indemnification; Other Relationships.</font>&nbsp;&nbsp;&nbsp;We and/or selling securityholders may agree to indemnify underwriters, dealers, agents and remarketing firms against civil liabilities, including liabilities under the Securities Act and to make contribution to them in connection with those liabilities. Underwriters, dealers, agents and remarketing firms, and their affiliates, may engage in transactions with, or perform services for us and our affiliates, in the ordinary course of business, including commercial banking transactions and services. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;"><font style="font-style:italic;font-weight:bold;">Market Making, Stabilization and Other Transactions.</font>&nbsp;&nbsp;&nbsp;Each series of securities offered by us will be a new issue of securities and may have no established trading market other than our common shares and outstanding preferred shares which are currently listed on the NYSE. Any underwriters to whom we and/or selling securityholders sell securities for public offering and sale may make a market in the securities, but such underwriters will not be obligated to do so and may discontinue any market making at any time without notice. The securities may or may not be listed on a national securities exchange, and any such listing if pursued will be described in the applicable prospectus supplement. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">To facilitate the offering of the securities, certain persons participating in the offering may engage in transactions that stabilize, maintain, or otherwise affect the price of the securities. This may include over-allotments or short sales of the securities, which involves the sale by persons participating in the offering of more securities than we sold to them. In these circumstances, these persons would cover the over-allotments or short positions by making purchases in the open market or by exercising their over-allotment option. In addition, these persons may stabilize or maintain the price of the securities by bidding for or purchasing securities in the open market or by imposing penalty bids, whereby selling concessions allowed to dealers participating in the offering may be reclaimed if securities sold by them are repurchased in connection with stabilization transactions. The effect of these transactions may be to stabilize or maintain the market price of the securities at a level above that which might otherwise prevail in the open market. These transactions may be discontinued at any time.</div>
      </div>
      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">49</div>
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      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tLEG">&#8203;</a><a name="tEXP">&#8203;</a><a name="tWHE">&#8203;</a></div>
      <div style="margin-top:46pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:11pt;font-weight:bold;">LEGAL MATTERS </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Certain legal matters, including the legality of certain of the securities covered by this prospectus, will be passed upon for us by Paul Hastings LLP. Certain legal matters under Maryland law, including the legality of certain of the securities covered by this prospectus, will be passed on for us by Venable LLP, Baltimore, Maryland.</div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:11pt;font-weight:bold;">EXPERTS</div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">The consolidated financial statements, and the related financial statement schedule, of Lexington Realty Trust incorporated in this Prospectus by reference from the Lexington Realty Trust and Lepercq Corporate Income Fund L.P. Annual Report on Form 10-K for the year ended December&#160;31, 2017, and the effectiveness of Lexington Realty Trust&#8217;s internal control over financial reporting have been audited by Deloitte &amp; Touche LLP, an independent registered public accounting firm, as stated in their reports, which are incorporated herein by reference. Such consolidated financial statements and financial statement schedule have been so incorporated in reliance upon the reports of such firm given upon their authority as experts in accounting and auditing.</div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">The consolidated financial statements, and the related financial statement schedule, of Lepercq Corporate Income Fund L.P. incorporated in this Prospectus by reference from the Lexington Realty Trust and Lepercq Corporate Income Fund L.P Annual Report on Form 10-K for the year ended December 31, 2017, have been audited by Deloitte &amp; Touche LLP, an independent registered public accounting firm, as stated in their report, which is incorporated herein by reference. Such consolidated financial statements and financial statement schedule have been so incorporated in reliance upon the report of such firm given upon their authority as experts in accounting and auditing.</div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">The consolidated financial statements and the related financial statement schedule of LXP and subsidiaries for each of the&#160;years in the two-year period ended December&#160;31, 2016 have been incorporated by reference herein and in the Registration Statement in reliance upon the reports of KPMG LLP (&#8220;KPMG&#8221;), independent registered public accounting firm, incorporated by reference herein, and upon the authority of said firm as experts in accounting and auditing. </div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:11pt;font-weight:bold;">INTERESTS OF NAMED EXPERTS AND COUNSEL</div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">The Company has agreed to indemnify and hold KPMG LLP harmless against and from any and all legal costs and expenses incurred by KPMG LLP in successful defense of any legal action or proceeding that arises as a result of KPMG LLP&#8217;s consent to the inclusion (or incorporation by reference) of its audit report on the Company&#8217;s past financial statements included (or incorporated by reference) in this registration statement. LCIF has agreed to indemnify and hold KPMG LLP harmless against and from any and all legal costs and expenses incurred by KPMG LLP in successful defense of any legal action or proceeding that arises as a result of KPMG LLP&#8217;s consent to the inclusion (or incorporation by reference) of its audit report on LCIF&#8217;s past financial statements included (or incorporated by reference) in this registration statement.</div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:11pt;font-weight:bold;">WHERE YOU CAN FIND MORE INFORMATION </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">LXP and LCIF file annual, quarterly and current reports, proxy statements (as applicable) and other information with the SEC. Our filings with the SEC are available to the public on the Internet at the SEC&#8217;s website at <font style="font-style:italic;">http://www.sec.gov</font>. You may also read and copy any document that we file with the SEC at its Public Reference Room 100 F Street, N.E., Washington, D.C. 20549. Please call the SEC at 1-800-SEC-0330 for further information on the operation of the Public Reference Room and its copy charges. We also maintain a website at <font style="font-style:italic;">http://www.lxp.com</font> through which you can obtain copies of documents that we file with the SEC. <font style="font-weight:bold;">The contents of that website are not incorporated by reference in or otherwise a part of this prospectus.</font></div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">The SEC allows LXP and LCIF to &#8220;incorporate by reference&#8221; the information we file with the SEC, which means we can disclose important information to you by referring you to those documents. The information incorporated by reference herein is an important part of this prospectus. Any statement contained herein or in a prospectus supplement hereto or in any document incorporated by reference will be </div>
      </div>
      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">50</div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a></div>
      <div style="margin-top:46pt;height:660pt;margin-left:70pt;width:456pt;">
        <div style="width:456pt; line-height:12pt;">deemed to be amended, modified or superseded for the purpose of this prospectus to the extent that a statement contained in this prospectus, any prospectus supplement or a later document that is or is considered to be incorporated by reference herein amends, modifies or supersedes such statement. Any statements so amended, modified or superseded will not be deemed to constitute a part of this prospectus, except as so amended, modified or superseded.</div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">LXP and LCIF incorporate by reference in this prospectus the documents listed below and any future filings that LXP and LCIF may make with the SEC under Sections&#160;13(a), 13(c), 14, or 15(d) of the Exchange Act after the date of the initial registration statement and prior to the termination of the offering under this prospectus; provided, however, that we are not incorporating, in each case, any documents or information deemed to have been furnished and not filed in accordance with SEC rules: </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">our Annual Report on Form 10-K for the year ended December&#160;31, 2017, filed with the SEC on February&#160;27, 2018; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">LXP&#8217;s Current Report on Form 8-K, filed with the SEC on January&#160;19, 2018; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.97pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.97pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">the description of LXP&#8217;s common shares in our Current Report on Form 8-K filed with the Commission on November&#160;21, 2013; and </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">LXP&#8217;s Registration Statement on Form 8-A, filed with the SEC on December&#160;8, 2004. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">To receive a free copy of any of the documents incorporated by reference in this prospectus (other than exhibits, unless they are specifically incorporated by reference in the documents), write us at the following address or callus at the telephone number listed below: </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;">Lexington Realty Trust <br >One Penn Plaza <br >Suite 4015 <br >Attention: Investor Relations <br >New York, New York 10119-4015 <br >(212) 692-7200</div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">We also maintain a website at <font style="font-style:italic;">http://www.lxp.com</font> through which you can obtain copies of documents that we file with the SEC. <font style="font-weight:bold;">The contents of that website are not incorporated by reference in or otherwise a part of this prospectus.</font></div>
      </div>
      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">51</div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a></div>
      <div style="margin-top:46pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:11pt;font-weight:bold;">PART II </div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:11pt;font-weight:bold;">INFORMATION NOT REQUIRED IN PROSPECTUS </div>
        <div style="margin-top:4.02pt; width:456pt; line-height:12pt;"><font style="font-weight:bold;">Item&#160;14</font>. <font style="font-style:italic;">Other Expenses of Issuance and Distribution</font>. </div>
        <div style="text-indent:20pt; margin-top:5.02pt; width:456pt; line-height:12pt;">Set forth below are the expenses, other than underwriting discounts and commissions, to be incurred by the registrant in connection with the issuance and distribution of the securities being registered. All amounts set forth below are estimated. </div>
        <table style="width:456pt;height:100.5pt;margin-top:8pt;border-collapse: collapse;">
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; width:390pt;text-align:left;">
              <div style="white-space:nowrap;">SEC Registration Fee </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.5pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:0pt 0pt 1pt 0pt; min-width:22.5pt; text-align:right; white-space:nowrap;">*</td>
            <td style="padding:0pt;padding-left:9.5pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:390pt;text-align:left;">
              <div style="white-space:nowrap;">Trustees&#8217; Registrars, Transfer Agents&#8217; and Depositories&#8217; Fees and Expenses </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.5pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:22.5pt; text-align:right; white-space:nowrap;">**</td>
            <td style="padding:0pt;padding-left:9.5pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:390pt;text-align:left;">
              <div style="white-space:nowrap;">Legal Fees and Expenses </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.5pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:22.5pt; text-align:right; white-space:nowrap;">**</td>
            <td style="padding:0pt;padding-left:9.5pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:390pt;text-align:left;">
              <div style="white-space:nowrap;">Printing and Engraving Expenses </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.5pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:22.5pt; text-align:right; white-space:nowrap;">**</td>
            <td style="padding:0pt;padding-left:9.5pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:390pt;text-align:left;">
              <div style="white-space:nowrap;">Accounting Fees and Expenses </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.5pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:22.5pt; text-align:right; white-space:nowrap;">**</td>
            <td style="padding:0pt;padding-left:9.5pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
            <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:390pt;text-align:left;">
              <div style="white-space:nowrap;">Miscellaneous Fees and Expenses </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.5pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:22.5pt; text-align:right; white-space:nowrap;">**</td>
            <td style="padding:0pt;padding-left:9.5pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt; width:390pt;text-align:left;">
              <div style="white-space:nowrap;">Total </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:9.5pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt; min-width:22.5pt; text-align:right; white-space:nowrap;">&#8199;&#8199;&#8199;&#8199;**</td>
            <td style="padding:0pt;padding-left:9.5pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:12.5pt; width:456pt;">
          <div style="margin-left: 0pt; width: 108pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style=" float:left; margin-top:5.01pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">*<br ></div>
        <div style=" float:left; margin-top:5.01pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:435.5pt;">To be deferred pursuant to Rule&#160;456(b) and calculated in connection with the offering of securities under this registration statement pursuant to Rule&#160;457(r). </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:3.02pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">**<br ></div>
        <div style=" float:left; margin-top:3.02pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:435.5pt;">These fees and expenses are calculated based on the securities offered and the number of issuances and accordingly, cannot be estimated at this time. An estimate of the aggregate amount of these fees and expenses will be reflected in the applicable prospectus supplement. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:5.02pt; width:456pt; line-height:12pt;"><font style="font-weight:bold;">Item&#160;15</font>. <font style="font-style:italic;">Indemnification of Directors and Officers</font>. </div>
        <div style="text-indent:20pt; margin-top:5.02pt; width:456pt; line-height:12pt;">The Maryland REIT law and Section&#160;2-418 of the Maryland General Corporation Law generally permits indemnification of any trustee or officer made a party to any proceedings by reason of service as a trustee or officer unless it is established that (i)&#160;the act or omission of such person was material to the matter giving rise to the proceeding and was committed in bad faith or was the result of active and deliberate dishonesty; or (ii) such person actually received an improper personal benefit in money, property or services; or (iii) in the case of any criminal proceeding, such person had reasonable cause to believe that the act or omission was unlawful. The indemnity may include judgments, penalties, fines, settlements and reasonable expenses actually incurred by the trustee or officer in connection with the proceeding; but, if the proceeding is one by or in the right of the company, indemnification is not permitted with respect to any proceeding in which the trustee or officer has been adjudged to be liable to the company, or if the proceeding is one charging improper personal benefit to the trustee or officer, whether or not involving action in the trustee&#8217;s or officer&#8217;s official capacity, indemnification of the trustee or officer is not permitted if the trustee or officer was adjudged to be liable on the basis that personal benefit was improperly received unless in either case a court orders indemnification and then only for expenses. The termination of any proceeding by conviction or upon a plea of nolo contendere or its equivalent, or any entry of an order of probation prior to judgment creates a rebuttable presumption that the trustee or officer did not meet the requisite standard of conduct required for permitted indemnification. The termination of any proceeding by judgment, order or settlement, however, does not create a presumption that the trustee or officer failed to meet the requisite standard of conduct for permitted indemnification.</div>
        <div style="text-indent:20pt; margin-top:5.01pt; width:456pt; line-height:12pt;">LXP&#8217;s Declaration of Trust limits the liability of its trustees and officers for money damages, except for liability resulting from:</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:3.02pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:3.02pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">actual receipt of an improper benefit or profit in money, property or services; or</div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:3.02pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:3.02pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">a final judgment based upon a finding of active and deliberate dishonesty by the trustees or officers that was material to the cause of action adjudicated.</div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:5.01pt; width:456pt; line-height:12pt;">LXP&#8217;s Declaration of Trust obligates LXP to the maximum extent permitted by Maryland law, to indemnify, and to pay or reimburse reasonable expenses in advance of final disposition of a proceeding to, any trustees or officers, whether serving LXP or at its request any other entity, who is made a party to a proceeding by reason of his or her service in that capacity. LXP&#8217;s Declaration of Trust permits LXP to indemnify and advance expenses to any employee or agent of LXP, whether serving LXP or at its request any other entity.</div>
      </div>
      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">II-1</div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a></div>
      <div style="margin-top:46pt;height:660pt;margin-left:70pt;width:456pt;">
        <div style="margin-left:20pt; margin-top:6pt; width:436pt; line-height:12pt;">Maryland law require LXP, as a condition to advancing expenses, to obtain:</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">a written affirmation by the trustee or officer of his or her good faith belief that he or she has met the standard of conduct necessary for indemnification; and</div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:9.97pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">&#8226;<br ></div>
        <div style=" float:left; margin-top:9.97pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">a written undertaking to repay the amount reimbursed if the standard of conduct is not met.</div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Section&#160;17-108 of the Delaware Act provides that a limited partnership may indemnify any partner or other person from and against any and all claims and demands by reason of such person being or having been a partner, employee or agent to the partnership. The Delaware Act provides that Section&#160;17-108 is not exclusive of other rights to which those seeking indemnification may be entitled under any partnership agreement. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">The LCIF partnership agreement provides that LCIF will indemnify Lex GP, as general partner of LCIF, and LXP, as the sole equity owner of Lex GP, their respective directors, trustees, officers and such other persons as Lex GP and LXP may from time to time designate to the fullest extent permitted under the Delaware Act.</div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">The foregoing reference is necessarily subject to the complete text of LXP&#8217;s Declaration of Trust, and partnership agreements and the statutes referred to above and is qualified in its entirety by reference thereto. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">We have also purchased liability insurance for our trustees and officers, which also covers our subsidiaries, including LCIF. LXP has also entered into indemnification agreements with certain officers and trustees for the purpose of indemnifying such persons from certain claims and actions in their capacities as such. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Insofar as indemnification for liabilities arising under the Securities Act may be permitted to trustees, directors, officers or persons controlling the registrants pursuant to the foregoing provisions, the registrants have been informed that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable.</div>
      </div>
      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">II-2</div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a></div>
      <div style="margin-top:46pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:6pt; width:456pt; line-height:12pt;"><font style="font-weight:bold;">Item&#160;16</font>. <font style="font-style:italic;">Exhibits</font>. </div>
        <table style="width:456pt;margin-top:8pt;border-collapse: collapse;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:8pt;">
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 3pt 0pt; width:47pt;">
              <div style="white-space:nowrap; text-align:center;">Exhibit&#160;No. </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 3pt 0pt; width:397pt;">
              <div style="white-space:nowrap; text-align:center;">Description </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.75pt 0pt 2pt 0pt; width:47pt;">
              <div style="text-align:center;">1.1 </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.75pt 0pt 2pt 0pt; width:397pt;text-align:left;">Form of Underwriting Agreement<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(2)</font></td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667907000120/ex3-1_merger.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:47pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667907000120/ex3-1_merger.htm">4.1 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667907000120/ex3-1_merger.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667907000120/ex3-1_merger.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:397pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667907000120/ex3-1_merger.htm">Articles of Merger and Amended and Restated Declaration of Trust of LXP, dated December&#160;31, 2006 (filed as Exhibit&#160;3.1 to LXP&#8217;s Current Report on Form 8-K filed January&#160;8, 2007 (the &#8220;01/08/07 8-K&#8221;))<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667907000120/ex3-1_merger.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483813000065/exhibit34-111513.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:47pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483813000065/exhibit34-111513.htm">4.2 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483813000065/exhibit34-111513.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483813000065/exhibit34-111513.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:397pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483813000065/exhibit34-111513.htm">Articles Supplementary Relating to the Reclassification of 8.05% Series&#160;B Cumulative Redeemable Preferred Stock, par value $0.0001 per share, and 7.55% Series&#160;D Cumulative Redeemable Preferred Stock, par value $0.0001 per share (filed as Exhibit&#160;3.4 to LXP&#8217;s Current Report on Form 8-K filed November&#160;21, 2013)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483813000065/exhibit34-111513.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667907000120/ex3-2_bylaws.htm">&#8203;</a></td>
            <td style="padding:4pt 0pt 2pt 0pt; width:47pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667907000120/ex3-2_bylaws.htm">4.3 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667907000120/ex3-2_bylaws.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667907000120/ex3-2_bylaws.htm">&#8203;</a></td>
            <td style="padding:4pt 0pt 2pt 0pt; width:397pt;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667907000120/ex3-2_bylaws.htm">Amended and Restated By-laws of LXP (filed as Exhibit&#160;3.2 to the 01/08/07 8-K)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667907000120/ex3-2_bylaws.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483809000087/exhibit3_1.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:47pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483809000087/exhibit3_1.htm">4.4 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483809000087/exhibit3_1.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483809000087/exhibit3_1.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:397pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483809000087/exhibit3_1.htm">First Amendment to Amended and Restated By-laws of LXP (filed as Exhibit&#160;3.1 to LXP&#8217;s Current Report on Form 8-K filed November&#160;20, 2009)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483809000087/exhibit3_1.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000144483817000013/exhibit31.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:47pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000144483817000013/exhibit31.htm">4.5 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000144483817000013/exhibit31.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000144483817000013/exhibit31.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:397pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000144483817000013/exhibit31.htm">Second Amendment to the Amended and Restated By-laws of LXP (filed as Exhibit&#160;3.1 to LXP&#8217;s Current Report on Form 8-K filed April&#160;3, 2017)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000144483817000013/exhibit31.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000007/lxpex325_20131231-lciflpag.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:47pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000007/lxpex325_20131231-lciflpag.htm">4.6 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000007/lxpex325_20131231-lciflpag.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000007/lxpex325_20131231-lciflpag.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:397pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000007/lxpex325_20131231-lciflpag.htm">Sixth Amended and Restated Agreement of Limited Partnership of LCIF, dated as of December&#160;30, 2013 (filed as Exhibit&#160;3.25 to LXP&#8217;s Annual Report on Form 10-K filed February&#160;26, 2014)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000007/lxpex325_20131231-lciflpag.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012307003036/y31004exv4w1.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:47pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012307003036/y31004exv4w1.htm">4.7 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012307003036/y31004exv4w1.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012307003036/y31004exv4w1.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:397pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012307003036/y31004exv4w1.htm">Specimen of Common Shares Certificate of LXP (filed as Exhibit&#160;4.1 to LXP&#8217;s Annual Report on Form 10-K for the year ended December&#160;31, 2006)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012307003036/y31004exv4w1.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667904002420/lex8_a.txt">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:47pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667904002420/lex8_a.txt">4.8 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667904002420/lex8_a.txt">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667904002420/lex8_a.txt">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:397pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667904002420/lex8_a.txt">Form of 6.50% Series&#160;C Cumulative Convertible Preferred Stock certificate (filed as Exhibit&#160;4.1 to LXP&#8217;s Registration Statement on Form 8A filed December&#160;8, 2004)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667904002420/lex8_a.txt">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667907001009/trust-agmt.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:47pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667907001009/trust-agmt.htm">4.9 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667907001009/trust-agmt.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667907001009/trust-agmt.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:397pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667907001009/trust-agmt.htm">Amended and Restated Trust Agreement, dated March&#160;21, 2007, among LXP, The Bank of New York Trust Company, National Association, The Bank of New York (Delaware), the Administrative Trustees (as named therein) and the several holders of the Preferred Securities from time to time (filed as Exhibit&#160;4.1 to LXP&#8217;s Current Report on Form 8-K filed on March&#160;27, 2007 (the &#8220;03/27/07 8-K&#8221;))<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667907001009/trust-agmt.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667907001009/junior-indenture.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:47pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667907001009/junior-indenture.htm">&#8194;4.10 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667907001009/junior-indenture.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667907001009/junior-indenture.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:397pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667907001009/junior-indenture.htm">Junior Subordinated Indenture, dated as of March&#160;21, 2007, between LXP and The Bank of New York Trust Company, National Association (filed as Exhibit&#160;4.2 to the 03/27/07 8-K)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667907001009/junior-indenture.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114420413034735/v347541_ex4-1.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:47pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114420413034735/v347541_ex4-1.htm">&#8194;4.11 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114420413034735/v347541_ex4-1.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114420413034735/v347541_ex4-1.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:397pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114420413034735/v347541_ex4-1.htm">Indenture (Senior Debt), dated as of June&#160;10, 2013, among LXP, certain subsidiaries of the LXP signatories thereto, and U.S. Bank National Association, as trustee (filed as Exhibit&#160;4.1 to LXP&#8217;s Current Report on Form 8-K filed on June&#160;13, 2013)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114420413034735/v347541_ex4-1.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483813000057/exhibit42-10313.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:47pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483813000057/exhibit42-10313.htm">&#8194;4.12 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483813000057/exhibit42-10313.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483813000057/exhibit42-10313.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:397pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483813000057/exhibit42-10313.htm">First Supplemental Indenture, dated as of September&#160;30, 2013, among LXP, certain subsidiaries of the LXP signatories thereto, and U.S. Bank National Association, as trustee (filed as Exhibit&#160;4.2 to LXP&#8217;s Current Report on Form 8-K filed on October&#160;3, 2013)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483813000057/exhibit42-10313.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000114420414029759/v378161_ex4-1.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:47pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000114420414029759/v378161_ex4-1.htm">&#8194;4.13 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000114420414029759/v378161_ex4-1.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000114420414029759/v378161_ex4-1.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:397pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000114420414029759/v378161_ex4-1.htm">Indenture (Senior Debt), dated as of May&#160;9, 2014, among LXP, LCIF and U.S. Bank, as trustee (filed as Exhibit&#160;4.1 to the Company&#8217;s Current Report on Form 8-K filed May&#160;13,&#160;2014)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000114420414029759/v378161_ex4-1.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000114420414032531/v379016_ex4-1.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:47pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000114420414032531/v379016_ex4-1.htm">&#8194;4.14 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000114420414032531/v379016_ex4-1.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000114420414032531/v379016_ex4-1.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:397pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000114420414032531/v379016_ex4-1.htm">First Supplemental Indenture, dated as of May&#160;20, 2014&#160;among LXP, LCIF and U.S. Bank, as trustee (filed as Exhibit&#160;4.1 to the Company&#8217;s Current Report on Form 8-K filed May&#160;20,&#160;2014)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000114420414032531/v379016_ex4-1.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="tv486103_ex4-15.htm">&#8203;</a></td>
            <td style="padding:4pt 0pt 2pt 0pt; width:47pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="tv486103_ex4-15.htm">&#8194;4.15 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="tv486103_ex4-15.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="tv486103_ex4-15.htm">&#8203;</a></td>
            <td style="padding:4pt 0pt 2pt 0pt; width:397pt;text-align:left;"><a style="-sec-extract:exhibit" href="tv486103_ex4-15.htm">Form of Subordinated Debt Indenture<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(3)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="tv486103_ex4-15.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; width:47pt;">
              <div style="text-align:center;">&#8194;4.16 </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; width:397pt;text-align:left;">Form of Indenture Security issued under the Senior Debt Indenture<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(2)</font></td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; width:47pt;">
              <div style="text-align:center;">&#8194;4.17 </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; width:397pt;text-align:left;">Form of Indenture Security issued under the Subordinated Debt Indenture<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(2)</font></td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:47pt;">
              <div style="text-align:center;">&#8194;4.18 </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:397pt;white-space:normal;text-align:left;">Form of Deposit Agreement relating to the Depositary Shares (including Form of Depositary Receipt)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(2)</font></td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 0.5pt 0pt; width:47pt;">
              <div style="text-align:center;">&#8199;4.19 </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:4pt 0pt 0.5pt 0pt; width:397pt;text-align:left;">Form of Warrant Agreement<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(2)</font></td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
      </div>
      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">II-3</div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a></div>
      <div style="margin-top:46pt;margin-left:70pt;width:456pt;">
        <table style="width:456pt;height:644.5pt;margin-top:0pt;border-collapse: collapse;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:8pt;">
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 3pt 0pt; width:47pt;">
              <div style="white-space:nowrap; text-align:center;">Exhibit&#160;No. </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 3pt 0pt; width:397pt;">
              <div style="white-space:nowrap; text-align:center;">Description </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.75pt 0pt 2pt 0pt; width:47pt;">
              <div style="text-align:center;">&#8199;4.20 </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.75pt 0pt 2pt 0pt; width:397pt;text-align:left;">Form of Warrant Certificate<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(2)</font></td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; width:47pt;">
              <div style="text-align:center;">&#8199;4.21 </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; width:397pt;text-align:left;">Form of Unit Agreement<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(2)</font></td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; width:47pt;">
              <div style="text-align:center;">&#8199;4.22 </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; width:397pt;text-align:left;">Form of Unit Certificate<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(2)</font></td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; width:47pt;">
              <div style="text-align:center;">&#8199;4.23 </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; width:397pt;text-align:left;">Form of Subscription Rights Agreement<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(2)</font></td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; width:47pt;">
              <div style="text-align:center;">&#8199;4.24 </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; width:397pt;text-align:left;">Form of Subscription Rights Certificate<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(2)</font></td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; width:47pt;">
              <div style="text-align:center;">&#8199;4.25 </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; width:397pt;text-align:left;">Articles Supplementary Classifying and Designating a Series of Preferred Stock<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(2)</font></td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; width:47pt;">
              <div style="text-align:center;">&#8199;4.26 </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:4pt 0pt 2pt 0pt; width:397pt;text-align:left;">Form of Guarantee relating to the Debt Security<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(2)</font></td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="tv486103_ex5-1.htm">&#8203;</a></td>
            <td style="padding:4pt 0pt 2pt 0pt; width:47pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="tv486103_ex5-1.htm">5.1 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="tv486103_ex5-1.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="tv486103_ex5-1.htm">&#8203;</a></td>
            <td style="padding:4pt 0pt 2pt 0pt; width:397pt;text-align:left;"><a style="-sec-extract:exhibit" href="tv486103_ex5-1.htm">Opinion of Paul Hastings LLP<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(3)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="tv486103_ex5-1.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="tv486103_ex5-2.htm">&#8203;</a></td>
            <td style="padding:4pt 0pt 2pt 0pt; width:47pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="tv486103_ex5-2.htm">5.2 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="tv486103_ex5-2.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="tv486103_ex5-2.htm">&#8203;</a></td>
            <td style="padding:4pt 0pt 2pt 0pt; width:397pt;text-align:left;"><a style="-sec-extract:exhibit" href="tv486103_ex5-2.htm">Opinion of Venable LLP<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(3)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="tv486103_ex5-2.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="tv486103_ex8-1.htm">&#8203;</a></td>
            <td style="padding:4pt 0pt 2pt 0pt; width:47pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="tv486103_ex8-1.htm">8.1 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="tv486103_ex8-1.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="tv486103_ex8-1.htm">&#8203;</a></td>
            <td style="padding:4pt 0pt 2pt 0pt; width:397pt;text-align:left;"><a style="-sec-extract:exhibit" href="tv486103_ex8-1.htm">Opinion of Paul Hastings LLP regarding tax matters<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(3)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="tv486103_ex8-1.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:47pt;">
              <div style="text-align:center;">10.1&#8199; </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:397pt;white-space:normal;text-align:left;">1994 Employee Stock Purchase Plan (filed as Exhibit&#160;D to LXP&#8217;s Definitive Proxy Statement dated April&#160;12, 1994)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)(4)</font></td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483817000019/exhibit101-form8xk51717.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:47pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483817000019/exhibit101-form8xk51717.htm">10.2&#8199; </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483817000019/exhibit101-form8xk51717.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483817000019/exhibit101-form8xk51717.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:397pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483817000019/exhibit101-form8xk51717.htm">LXP&#8217;s Amended and Restated 2011 Equity-Based Award Plan (filed as Exhibit&#160;10.1 to LXP&#8217;s Current Report on Form 8-K filed May&#160;18, 2017)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)(4)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483817000019/exhibit101-form8xk51717.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012305003218/y06708exv10w15.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:47pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012305003218/y06708exv10w15.htm">10.3&#8199; </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012305003218/y06708exv10w15.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012305003218/y06708exv10w15.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:397pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012305003218/y06708exv10w15.htm">Form of Compensation Agreement (Long-Term Compensation) between LXP and each of the following officers: Richard J. Rouse and Patrick Carroll (filed as Exhibit&#160;10.15 to LXP&#8217;s Annual Report on Form&#160;10-K for the year ended December&#160;31, 2004, filed on March&#160;16, 2005 (the &#8220;2004&#160;10-K&#8221;))<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)(4)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012305003218/y06708exv10w15.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012305003218/y06708exv10w16.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:47pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012305003218/y06708exv10w16.htm">10.4&#8199; </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012305003218/y06708exv10w16.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012305003218/y06708exv10w16.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:397pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012305003218/y06708exv10w16.htm">Form of Compensation Agreement (Bonus and Long-Term Compensation) between LXP and each of the following officers: E. Robert Roskind and T. Wilson Eglin (filed as Exhibit&#160;10.16 to the 2004 10-K)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)(4)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012305003218/y06708exv10w16.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114036110047030/ex10_3.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:47pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114036110047030/ex10_3.htm">10.5&#8199; </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114036110047030/ex10_3.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114036110047030/ex10_3.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:397pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114036110047030/ex10_3.htm">Form of Share Option Award Agreement (filed as Exhibit&#160;10.3 to LXP&#8217;s Current Report on Form 8-K/A filed on November&#160;24, 2010)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)(4)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114036110047030/ex10_3.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114036110047032/ex10_2.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:47pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114036110047032/ex10_2.htm">10.6&#8199; </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114036110047032/ex10_2.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114036110047032/ex10_2.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:397pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114036110047032/ex10_2.htm">Form of 2010 Share Option Award Agreement (filed as Exhibit&#160;10.2 to LXP&#8217;s Current Report on Form 8-K/A filed November&#160;24, 2010)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)(4)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114036110047032/ex10_2.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483811000002/dec2010optionformexecutives.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:47pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483811000002/dec2010optionformexecutives.htm">10.7&#8199; </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483811000002/dec2010optionformexecutives.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483811000002/dec2010optionformexecutives.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:397pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483811000002/dec2010optionformexecutives.htm">Form of December&#160;2010 Share Option Award Agreement (filed as Exhibit&#160;10.1 to LXP&#8217;s Current Report on Form 8-K filed January&#160;6, 2011)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)(4)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483811000002/dec2010optionformexecutives.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012309000031/y73623exv10w2.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:47pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012309000031/y73623exv10w2.htm">10.8&#8199; </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012309000031/y73623exv10w2.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012309000031/y73623exv10w2.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:397pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012309000031/y73623exv10w2.htm">Amended and Restated Rabbi Trust Agreement, originally dated January&#160;26, 1999 (filed&#160;as&#160;Exhibit&#160;10.2 to LXP&#8217;s Current Report on Form&#160;8-K filed January&#160;2, 2009)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)(4)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012309000031/y73623exv10w2.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483818000002/ex101retirementagreement-r.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:47pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483818000002/ex101retirementagreement-r.htm">10.9&#8199; </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483818000002/ex101retirementagreement-r.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483818000002/ex101retirementagreement-r.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:397pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483818000002/ex101retirementagreement-r.htm">Retirement Agreement, dated January&#160;18, 2018, between LXP and Richard J. Rouse (filed&#160;as&#160;Exhibit&#160;10.1 to LXP&#8217;s Current Report on Form 8-K filed January&#160;19, 2018 (the &#8220;1/19/18 8-K&#8221;))<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)(4)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483818000002/ex101retirementagreement-r.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483818000002/ex102retirementagreement-r.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:47pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483818000002/ex102retirementagreement-r.htm">10.10 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483818000002/ex102retirementagreement-r.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483818000002/ex102retirementagreement-r.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:397pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483818000002/ex102retirementagreement-r.htm">Retirement Agreement, dated January&#160;18, 2018, between LXP and E. Robert Roskind (filed as Exhibit&#160;10.2 to the 1/19/18 8-K)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)(4)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483818000002/ex102retirementagreement-r.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483818000002/ex103executiveseveranceplan.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:47pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483818000002/ex103executiveseveranceplan.htm">10.11 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483818000002/ex103executiveseveranceplan.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483818000002/ex103executiveseveranceplan.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:397pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483818000002/ex103executiveseveranceplan.htm">Lexington Realty Trust Executive Severance Plan with related Severance Policy Agreements with E. Robert Roskind, T. Wilson Eglin, Patrick Carroll, Joseph S. Bonventre and Beth Boulerice (filed as Exhibit&#160;10.3 to the 1/19/18 8-K)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)(4)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483818000002/ex103executiveseveranceplan.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000055/lxpex101-2014930eglin.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:47pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000055/lxpex101-2014930eglin.htm">10.12 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000055/lxpex101-2014930eglin.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000055/lxpex101-2014930eglin.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:397pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000055/lxpex101-2014930eglin.htm">Employment Agreement, dated as of September&#160;11, 2014, and effective as of January&#160;15, 2015, between LXP and T. Wilson Eglin (filed as Exhibit&#160;10.1 to LXP&#8217;s Quarterly Report on&#160;Form 10-Q for the quarter ended September&#160;30, 2014 filed November&#160;7, 2014 (the &#8220;09/30/14 10-Q&#8221;))<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)(4)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000055/lxpex101-2014930eglin.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000055/lxpex102-2014930roskind.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:47pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000055/lxpex102-2014930roskind.htm">10.13 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000055/lxpex102-2014930roskind.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000055/lxpex102-2014930roskind.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:397pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000055/lxpex102-2014930roskind.htm">Employment Agreement, dated as of September&#160;11, 2014, and effective as of January&#160;15, 2015, between LXP and E. Robert Roskind (filed as Exhibit&#160;10.2 to the 09/30/14 10-Q)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)(4)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000055/lxpex102-2014930roskind.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000055/lxpex103-2014930rouse.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:47pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000055/lxpex103-2014930rouse.htm">10.14 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000055/lxpex103-2014930rouse.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000055/lxpex103-2014930rouse.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:397pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000055/lxpex103-2014930rouse.htm">Employment Agreement, dated as of September&#160;11, 2014, and effective as of January&#160;15, 2015, between LXP and Richard J. Rouse (filed as Exhibit&#160;10.3 to the 09/30/14 10-Q)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)(4)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000055/lxpex103-2014930rouse.htm">&#8203;</a></td>
          </tr>
        </table>
      </div>
      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">II-4</div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a></div>
      <div style="margin-top:46pt;margin-left:70pt;width:456pt;">
        <table style="width:456pt;margin-top:0pt;border-collapse: collapse;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:8pt;">
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 3pt 0pt; width:47pt;">
              <div style="white-space:nowrap; text-align:center;">Exhibit&#160;No. </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 3pt 0pt; width:397pt;">
              <div style="white-space:nowrap; text-align:center;">Description </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000055/lxpex104-2014930carroll.htm">&#8203;</a></td>
            <td style="padding:2.417pt 0pt 0.5pt 0pt; width:47pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000055/lxpex104-2014930carroll.htm">10.15 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000055/lxpex104-2014930carroll.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000055/lxpex104-2014930carroll.htm">&#8203;</a></td>
            <td style="padding:2.417pt 0pt 0.5pt 0pt; width:397pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000055/lxpex104-2014930carroll.htm">Employment Agreement, dated as of September&#160;11, 2014, and effective as of January&#160;15, 2015, between LXP and Patrick Carroll (filed as Exhibit&#160;10.4 to the 09/30/14 10-Q)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)(4)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000055/lxpex104-2014930carroll.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483813000004/exhibit101-retentiongranta.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:47pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483813000004/exhibit101-retentiongranta.htm">10.16 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483813000004/exhibit101-retentiongranta.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483813000004/exhibit101-retentiongranta.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:397pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483813000004/exhibit101-retentiongranta.htm">Form of Long-Term Retention Nonvested Share Agreement (filed as Exhibit&#160;10.1 to LXP&#8217;s Current Report on Form 8-K filed on January&#160;11, 2013)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)(4)</font><font style="font-size:7.5pt;"></font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483813000004/exhibit101-retentiongranta.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483815000002/ex101-nonvestedshareagreem.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:47pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483815000002/ex101-nonvestedshareagreem.htm">10.17 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483815000002/ex101-nonvestedshareagreem.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483815000002/ex101-nonvestedshareagreem.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:397pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483815000002/ex101-nonvestedshareagreem.htm">Form of 2015 Nonvested Share Agreement (Performance and Service) (filed as Exhibit&#160;10.1 to LXP&#8217;s Current Report on Form 8-K filed January&#160;9, 2015)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)(4)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483815000002/ex101-nonvestedshareagreem.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000144483817000010/ex1017nonvestedshareagreem.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:47pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000144483817000010/ex1017nonvestedshareagreem.htm">10.18 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000144483817000010/ex1017nonvestedshareagreem.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000144483817000010/ex1017nonvestedshareagreem.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:397pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000144483817000010/ex1017nonvestedshareagreem.htm">Form of 2017 Nonvested Share Agreement (Performance and Service) (filed as Exhibit&#160;10.17 to LXP&#8217;s Annual Report on Form&#160;10-K for the year ended December&#160;31, 2016 filed on February&#160;28, 2017)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)(4)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000144483817000010/ex1017nonvestedshareagreem.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012308014803/y72451exv10w20.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:47pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012308014803/y72451exv10w20.htm">10.19 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012308014803/y72451exv10w20.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012308014803/y72451exv10w20.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:397pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012308014803/y72451exv10w20.htm">Form of Amended and Restated Indemnification Agreement between LXP and certain officers and trustees (filed as Exhibit&#160;10.20 to LXP&#8217;s Quarterly Report on Form 10-Q for the quarter ended September&#160;30, 2008)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012308014803/y72451exv10w20.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667906001807/lfunding.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:47pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667906001807/lfunding.htm">10.20 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667906001807/lfunding.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667906001807/lfunding.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:397pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667906001807/lfunding.htm">Funding Agreement, dated as of July&#160;23, 2006, by and among LCIF, LCIF II and LXP (filed as Exhibit&#160;99.4 to LXP&#8217;s Current Report on Form 8-K filed on July&#160;24, 2006)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667906001807/lfunding.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/1333578/000104746905025547/a2164502zex-10_15.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:47pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/1333578/000104746905025547/a2164502zex-10_15.htm">10.21 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/1333578/000104746905025547/a2164502zex-10_15.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/1333578/000104746905025547/a2164502zex-10_15.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:397pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/1333578/000104746905025547/a2164502zex-10_15.htm">Letter Agreement among LXP (as successor by merger), Apollo Real Estate Investment Fund&#160;III, L.P., NKT Advisors LLC, Vornado Realty Trust, VNK Corp., Vornado Newkirk LLC, Vornado MLP GP LLC and WEM-Brynmawr Associates LLC (filed as Exhibit&#160;10.15 to Amendment No. 5 to Newkirk Registration Statement on Form S-11/A filed October&#160;28, 2005 (&#8220;Amendment No. 5 to NKT&#8217;s S-11&#8221;))<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/1333578/000104746905025547/a2164502zex-10_15.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/1333578/000104746905025547/a2164502zex-10_25.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:47pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/1333578/000104746905025547/a2164502zex-10_25.htm">10.22 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/1333578/000104746905025547/a2164502zex-10_25.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/1333578/000104746905025547/a2164502zex-10_25.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:397pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/1333578/000104746905025547/a2164502zex-10_25.htm">Amendment to the Letter Agreement among LXP (as successor by merger), Apollo Real Estate Investment Fund&#160;III, L.P., NKT Advisors LLC, Vornado Realty Trust, Vornado&#160;Realty L.P., VNK Corp., Vornado Newkirk LLC, Vornado MLP GP LLC, and&#160;WEM-Brynmawr Associates LLC (filed as Exhibit&#160;10.25 to Amendment No. 5 to NKT&#8217;s&#160;S-11)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/1333578/000104746905025547/a2164502zex-10_25.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483810000080/secondamendedrestatedwaiver.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:47pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483810000080/secondamendedrestatedwaiver.htm">10.23 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483810000080/secondamendedrestatedwaiver.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483810000080/secondamendedrestatedwaiver.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:397pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483810000080/secondamendedrestatedwaiver.htm">Second Amended and Restated Ownership Limit Waiver Agreement (Vornado), dated as of December&#160;6, 2010, between LXP and Vornado Realty, L.P. (together with certain affiliates) (filed as Exhibit&#160;10.1 to LXP&#8217;s Current Report on Form 8-K filed on December&#160;6, 2010)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483810000080/secondamendedrestatedwaiver.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000114420415053285/v419588_ex10-1.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:47pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000114420415053285/v419588_ex10-1.htm">10.24 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000114420415053285/v419588_ex10-1.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000114420415053285/v419588_ex10-1.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:397pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000114420415053285/v419588_ex10-1.htm">Credit Agreement, dated as of September&#160;1, 2015, among LXP and LCIF, as borrowers, each of the financial institutions initially a signatory thereto together with their assignees pursuant to 12/5 therein, and KeyBank National Association, as agent (filed as Exhibit&#160;10.1 to LXP&#8217;s Current Report on Form 8-K filed on September&#160;1, 2015)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000114420415053285/v419588_ex10-1.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000144483817000029/exhibit10110217agreement.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:47pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000144483817000029/exhibit10110217agreement.htm">10.25 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000144483817000029/exhibit10110217agreement.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000144483817000029/exhibit10110217agreement.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:397pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000144483817000029/exhibit10110217agreement.htm">First Amendment to Credit Agreement and Agreement Regarding Revolving Line Commitment and Term Loan Increases, dated as of September&#160;29, 2017, among LXP and LCIF, as borrowers, and KeyBank National Association, as agent (filed as Exhibit&#160;10.1 to LXP&#8217;s Current Report on Form 8-K filed on October&#160;2, 2017)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000144483817000029/exhibit10110217agreement.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114036110047034/ex10_1.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:47pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114036110047034/ex10_1.htm">10.26 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114036110047034/ex10_1.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114036110047034/ex10_1.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:397pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114036110047034/ex10_1.htm">Ownership Limitation Waiver Agreement (BlackRock), dated as of November&#160;18, 2010 (filed as of Exhibit&#160;10.1 to LXP&#8217;s Current Report on Form 8-K filed on November&#160;24, 2010 (the &#8220;11/24/10 8-K&#8221;))<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114036110047034/ex10_1.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000026/exhibit101-42914x01.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:47pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000026/exhibit101-42914x01.htm">10.27 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000026/exhibit101-42914x01.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000026/exhibit101-42914x01.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:397pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000026/exhibit101-42914x01.htm">First Amendment to Ownership Limitation Waiver Agreement (BlackRock), dated April&#160;25, 2014 (filed as Exhibit&#160;10.1 to LXP&#8217;s Current Report on Form 8-K filed on April&#160;29, 2014)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000026/exhibit101-42914x01.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114036110047034/ex10_2.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:47pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114036110047034/ex10_2.htm">10.28 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114036110047034/ex10_2.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114036110047034/ex10_2.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:397pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114036110047034/ex10_2.htm">Ownership Limitation Waiver Agreement (Cohen &amp; Steers), dated as of November&#160;18, 2010 (filed as Exhibit&#160;10.2 to the 11/24/10 8-K)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114036110047034/ex10_2.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483811000007/exhibit.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:47pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483811000007/exhibit.htm">10.29 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483811000007/exhibit.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483811000007/exhibit.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:397pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483811000007/exhibit.htm">First Amendment to Ownership Limitation Waiver Agreement (Cohen &amp; Steers), dated as of April&#160;19, 2011 (filed as Exhibit&#160;10.1 to LXP&#8217;s Current Report on Form 8-K filed on April&#160;25,&#160;2011)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483811000007/exhibit.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012308014587/y72445exv10w3.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:47pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012308014587/y72445exv10w3.htm">10.30 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012308014587/y72445exv10w3.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012308014587/y72445exv10w3.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 0.5pt 0pt; width:397pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012308014587/y72445exv10w3.htm">Amended and Restated Registration Rights Agreement, dated as of November&#160;3, 2008, between LXP and Vornado Realty, L.P. and Vornado LXP LLC (filed as Exhibit&#160;10.3 to LXP&#8217;s Current Report on Form&#160;8-K filed November&#160;6, 2008)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012308014587/y72445exv10w3.htm">&#8203;</a></td>
          </tr>
        </table>
      </div>
      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">II-5</div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a></div>
      <div style="margin-top:46pt;margin-left:70pt;width:456pt;">
        <table style="width:456pt;height:188.5pt;margin-top:0pt;border-collapse: collapse;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:8pt;">
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 3pt 0pt; width:47pt;">
              <div style="white-space:nowrap; text-align:center;">Exhibit&#160;No. </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 3pt 0pt; width:397pt;">
              <div style="white-space:nowrap; text-align:center;">Description </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="tv486103_ex12-1.htm">&#8203;</a></td>
            <td style="padding:2.417pt 0pt 1.333pt 0pt; width:47pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="tv486103_ex12-1.htm">12.1&#8199; </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="tv486103_ex12-1.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="tv486103_ex12-1.htm">&#8203;</a></td>
            <td style="padding:2.417pt 0pt 1.333pt 0pt; width:397pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="tv486103_ex12-1.htm">Statement of Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Share Dividends and Ratio of Earnings for LXP<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(3)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="tv486103_ex12-1.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="tv486103_ex12-2.htm">&#8203;</a></td>
            <td style="padding:4pt 0pt 2pt 0pt; width:47pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="tv486103_ex12-2.htm">12.2 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="tv486103_ex12-2.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="tv486103_ex12-2.htm">&#8203;</a></td>
            <td style="padding:4pt 0pt 2pt 0pt; width:397pt;text-align:left;"><a style="-sec-extract:exhibit" href="tv486103_ex12-2.htm">Statement of Computation of Ratio of Earnings to Combined Fixed Charges<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(3)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="tv486103_ex12-2.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="tv486103_ex23-1.htm">&#8203;</a></td>
            <td style="padding:4pt 0pt 2pt 0pt; width:47pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="tv486103_ex23-1.htm">23.1 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="tv486103_ex23-1.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="tv486103_ex23-1.htm">&#8203;</a></td>
            <td style="padding:4pt 0pt 2pt 0pt; width:397pt;text-align:left;"><a style="-sec-extract:exhibit" href="tv486103_ex23-1.htm">Consent of Deloitte &amp; Touche LLP re: LXP<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(3)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="tv486103_ex23-1.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="tv486103_ex23-2.htm">&#8203;</a></td>
            <td style="padding:4pt 0pt 2pt 0pt; width:47pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="tv486103_ex23-2.htm">23.2 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="tv486103_ex23-2.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="tv486103_ex23-2.htm">&#8203;</a></td>
            <td style="padding:4pt 0pt 2pt 0pt; width:397pt;text-align:left;"><a style="-sec-extract:exhibit" href="tv486103_ex23-2.htm">Consent of Deloitte &amp; Touche LLP re: LCIF<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(3)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="tv486103_ex23-2.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="tv486103_ex23-3.htm">&#8203;</a></td>
            <td style="padding:4pt 0pt 2pt 0pt; width:47pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="tv486103_ex23-3.htm">23.3 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="tv486103_ex23-3.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="tv486103_ex23-3.htm">&#8203;</a></td>
            <td style="padding:4pt 0pt 2pt 0pt; width:397pt;text-align:left;"><a style="-sec-extract:exhibit" href="tv486103_ex23-3.htm">Consent of KPMG LLP re: LXP<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(3)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="tv486103_ex23-3.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="tv486103_ex23-4.htm">&#8203;</a></td>
            <td style="padding:4pt 0pt 2pt 0pt; width:47pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="tv486103_ex23-4.htm">23.4 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="tv486103_ex23-4.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="tv486103_ex23-4.htm">&#8203;</a></td>
            <td style="padding:4pt 0pt 2pt 0pt; width:397pt;text-align:left;"><a style="-sec-extract:exhibit" href="tv486103_ex23-4.htm">Consent of KPMG LLP re: LCIF<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(3)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="tv486103_ex23-4.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="#tPOA">&#8203;</a></td>
            <td style="padding:4pt 0pt 2pt 0pt; width:47pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="#tPOA">24.1 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="#tPOA">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="#tPOA">&#8203;</a></td>
            <td style="padding:4pt 0pt 2pt 0pt; width:397pt;text-align:left;"><a style="-sec-extract:exhibit" href="#tPOA">Power of Attorney (included in the signature pages to this registration statement)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(3)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="#tPOA">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="tv486103_ex25-1.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 1.333pt 0pt; width:47pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="tv486103_ex25-1.htm">25.1 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="tv486103_ex25-1.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="tv486103_ex25-1.htm">&#8203;</a></td>
            <td style="padding:2.667pt 0pt 1.333pt 0pt; width:397pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="tv486103_ex25-1.htm">Statement of Eligibility of U.S. Bank National Association, as Trustee, on Form T-1 to act as trustee under the Senior Debt Indenture<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(3)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="tv486103_ex25-1.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.667pt 0pt 1.333pt 0pt; width:47pt;">
              <div style="text-align:center;">25.2</div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.667pt 0pt 1.333pt 0pt; width:397pt;white-space:normal;text-align:left;">Statement of Eligibility of U.S. Bank National Association, as Trustee, on Form&#160;T-1 to act as trustee under the Subordinated Debt Indenture<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(2)</font></td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:14.49pt; width:456pt;">
          <div style="margin-left: 0pt; width: 108pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style=" float:left; margin-top:11.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(1)<br ></div>
        <div style=" float:left; margin-top:11.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:435.5pt;">Incorporated by reference. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:9.97pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(2)<br ></div>
        <div style=" float:left; margin-top:9.97pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:435.5pt;">To be filed by amendment or incorporated by reference in connection with the offering of the offered securities. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(3)<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:435.5pt;">Filed herewith. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(4)<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:435.5pt;">Management contract or compensatory plan or arrangement. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:6pt; width:456pt; line-height:12pt;"><font style="font-weight:bold;">Item&#160;17</font>. <font style="font-style:italic;">Undertakings</font>. </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8.39pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(a)<br ></div>
        <div style=" float:left; margin-top:8.39pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">The undersigned registrant hereby undertakes: </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:40pt; line-height:12pt; margin-top:8.39pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(1)<br ></div>
        <div style=" float:left; margin-top:8.39pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:395.5pt;">To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement: </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:60pt; line-height:12pt; margin-top:8.58pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(i)<br ></div>
        <div style=" float:left; margin-top:8.58pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:375.5pt;">To include any prospectus required by section 10(a)(3) of the Securities Act of 1933; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:60pt; line-height:12pt; margin-top:8.59pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(ii)<br ></div>
        <div style=" float:left; margin-top:8.59pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:375.5pt;">To reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule&#160;424(b) if, in the aggregate, the changes in volume and price represent no more than a 20% change in the maximum aggregate offering price set forth in the &#8220;Calculation of Registration Fee&#8221; table in the effective registration statement; and </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:60pt; line-height:12pt; margin-top:8.58pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(iii)<br ></div>
        <div style=" float:left; margin-top:8.58pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:375.5pt;">To include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:20pt; margin-top:6pt; width:436pt; line-height:12pt;">provided, however, that paragraphs (a)(1)(i), (a)(1)(ii) and (a)(1)(iii) of this section do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission by the registrant pursuant to section 13 or section 15(d) of the Securities Exchange Act of 1934, as amended, that are incorporated by reference in this registration statement, or is contained in a form of prospectus filed pursuant to Rule&#160;424(b) that is part of the registration statement. </div>
      </div>
      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">II-6</div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a></div>
      <div style="margin-top:46pt;margin-left:70pt;width:456pt;">
        <div style=" float:left; margin-left:40pt; line-height:12pt; margin-top:4pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(2)<br ></div>
        <div style=" float:left; margin-top:4pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:395.5pt;">That, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment will be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time will be deemed to be the initial bona fide offering thereof. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:40pt; line-height:12pt; margin-top:7.99pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(3)<br ></div>
        <div style=" float:left; margin-top:7.99pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:395.5pt;">To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:40pt; line-height:12pt; margin-top:7.99pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(4)<br ></div>
        <div style=" float:left; margin-top:7.99pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:395.5pt;">That, for the purpose of determining liability under the Securities Act of 1933 to any purchaser: </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:60pt; line-height:12pt; margin-top:7.99pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(i)<br ></div>
        <div style=" float:left; margin-top:7.99pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:375.5pt;">If the registrant is relying on Rule&#160;430B: </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:80pt; line-height:12pt; margin-top:8.18pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(A)<br ></div>
        <div style=" float:left; margin-top:8.18pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:355.5pt;">Each prospectus filed by the registrant pursuant to Rule&#160;424(b)(3) will be deemed to be part of the registration statement as of the date the filed prospectus was deemed part of and included in the registration statement; and </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:80pt; line-height:12pt; margin-top:8.19pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(B)<br ></div>
        <div style=" float:left; margin-top:8.19pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:355.5pt;">Each prospectus required to be filed pursuant to Rule&#160;424(b)(2), (b)(5), or (b)(7) as part of a registration statement in reliance on Rule&#160;430B relating to an offering made pursuant to Rule&#160;415(a)(1)(i), (vii), or (x)&#160;for the purpose of providing the information required by section 10(a) of the Securities Act of 1933 will be deemed to be part of and included in the registration statement as of the earlier of the date such form of prospectus is first used after effectiveness or the date of the first contract of sale of securities in the offering described in the prospectus. As provided in Rule&#160;430B, for liability purposes of the issuer and any person that is at that date an underwriter, such date will be deemed to be a new effective date of the registration statement relating to the securities in the registration statement to which that prospectus relates, and the offering of such securities at that time will be deemed to be the initial bona fide offering thereof. Provided, however, that no statement made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such effective date, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration statement or made in any such document immediately prior to such effective date; or </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:60pt; line-height:12pt; margin-top:8.19pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(ii)<br ></div>
        <div style=" float:left; margin-top:8.19pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:375.5pt;">If the registrant is subject to Rule&#160;430C, each prospectus filed pursuant to Rule&#160;424(b) as part of a registration statement relating to an offering, other than registration statements relying on Rule&#160;430B or other than prospectuses filed in reliance on Rule&#160;430A, will be deemed to be part of and included in the registration statement as of the date it is first used after effectiveness. Provided, however, that no statement made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such first use, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration statement or made in any such document immediately prior to such date of first use. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:40pt; line-height:12pt; margin-top:8.19pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(5)<br ></div>
        <div style=" float:left; margin-top:8.19pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:395.5pt;">That, for the purpose of determining liability of the registrant under the Securities Act of 1933 to any purchaser in the initial distribution of the securities: </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:60pt; margin-top:6pt; width:396pt; line-height:12pt;">The undersigned registrant undertakes that in a primary offering of securities of the undersigned registrant pursuant to this registration statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser by means of any of the following communications, the undersigned registrant will be a seller to the purchaser and will be considered to offer or sell such securities to such purchaser: </div>
      </div>
      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">II-7</div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a></div>
      <div style="margin-top:46pt;margin-left:70pt;width:456pt;">
        <div style=" float:left; margin-left:60pt; line-height:12pt; margin-top:4pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(i)<br ></div>
        <div style=" float:left; margin-top:4pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:375.5pt;">Any preliminary prospectus or prospectus of the undersigned registrant relating to the offering required to be filed pursuant to Rule&#160;424; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:60pt; line-height:12pt; margin-top:7.59pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(ii)<br ></div>
        <div style=" float:left; margin-top:7.59pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:375.5pt;">Any free writing prospectus relating to the offering prepared by or on behalf of the undersigned registrant or used or referred to by the undersigned registrant; </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:60pt; line-height:12pt; margin-top:7.59pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(iii)<br ></div>
        <div style=" float:left; margin-top:7.59pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:375.5pt;">The portion of any other free writing prospectus relating to the offering containing material information about the undersigned registrant or its securities provided by or on behalf of the undersigned registrant; and </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:60pt; line-height:12pt; margin-top:7.59pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(iv)<br ></div>
        <div style=" float:left; margin-top:7.59pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:375.5pt;">Any other communication that is an offer in the offering made by the undersigned registrant to the purchaser. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.59pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(b)<br ></div>
        <div style=" float:left; margin-top:7.59pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of the registrant&#8217;s annual report pursuant to Section&#160;13(a) or 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan&#8217;s annual report pursuant to Section&#160;15(d) of the Securities Exchange Act) that is incorporated by reference in the registration statement will be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time will be deemed to be the initial bona fide offering thereof. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.59pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(c)<br ></div>
        <div style=" float:left; margin-top:7.59pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.79pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(d)<br ></div>
        <div style=" float:left; margin-top:7.79pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">The undersigned registrant hereby undertakes to supplement the prospectus, after the expiration of the subscription period, to set forth the results of the subscription offer, the transactions by the underwriters during the subscription period, the amount of unsubscribed securities to be purchased by the underwriters, and the terms of any subsequent reoffering thereof. If any public offering by the underwriters is to be made on terms differing from those set forth on the cover page of the prospectus, a post-effective amendment will be filed to set forth the terms of such offering. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.79pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(e)<br ></div>
        <div style=" float:left; margin-top:7.79pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">The undersigned registrant hereby undertakes to file an application for the purpose of determining the eligibility of the trustee to act under subsection (a)&#160;of section 310 of the Trust Indenture Act (&#8220;Act&#8221;) in accordance with the rules and regulations prescribed by the Commission under Section&#160;305(b)(2) of the Trust Indenture Act. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.79pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(f)<br ></div>
        <div style=" float:left; margin-top:7.79pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:415.5pt;">That: </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:40pt; line-height:12pt; margin-top:7.79pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(1)<br ></div>
        <div style=" float:left; margin-top:7.79pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:395.5pt;">For purposes of determining any liability under the Securities Act of 1933, the information omitted from the form of prospectus filed as part of this registration statement in reliance upon Rule&#160;430A and contained in a form of prospectus filed by the registrant pursuant to Rule&#160;424(b) (1)&#160;or (4)&#160;or 497(h) under the Securities Act will be deemed to be part of this registration statement as of the time it was declared effective; and </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:40pt; line-height:12pt; margin-top:7.79pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(2)<br ></div>
        <div style=" float:left; margin-top:7.79pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:395.5pt;">For the purpose of determining any liability under the Securities Act of 1933, each post-effective amendment that contains a form of prospectus will be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time will be deemed to be the initial bona fide offering thereof. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="clear:both;font-size:0pt;">&#8203;</div>
      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">II-8</div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a><a name="tPOA">&#8203;</a></div>
      <div style="margin-top:46pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:11pt;font-weight:bold;">SIGNATURES </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Pursuant to the requirements of the Securities Act of 1933, as amended, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-3 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of New York, the State of New York, on February&#160;27, 2018. </div>
        <div style="margin-left:240pt; margin-top:6pt; width:216pt; line-height:12pt;font-weight:bold;">LEXINGTON REALTY TRUST </div>
        <div style=" float:left; margin-left:240pt; line-height:12pt; margin-top:7.59pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">By:<br ></div>
        <div style=" float:left; margin-top:7.59pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:195.5pt;">/s/ T. Wilson Eglin</div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:260pt; margin-top:2.5pt; width:196pt;">
          <div style="margin-left: 0pt; width: 196pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style="margin-left:260pt; margin-top:2pt; width:196pt; line-height:12pt;">T. Wilson Eglin <br >President and Chief Executive Officer</div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:11pt;font-weight:bold;">POWER OF ATTORNEY </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Each person whose signature appears below authorizes T. Wilson Eglin and Patrick Carroll, and each of them, each of whom may act without joinder of the other, as his true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution, for him and in his name, place and stead, in any and all capacities to execute in the name of each such person who is then an officer or trustee of Lexington Realty Trust, and to file any amendments (including post effective amendments) to this Registration Statement and any registration statement for the same offering filed pursuant to Rule&#160;462 under the Securities Act of 1933, as amended, and to file the same, with all exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises, as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents or their substitute or substitutes may lawfully do or cause to be done by virtue hereof. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated: </div>
        <table style="width:456pt;height:310.5pt;margin-top:8pt;border-collapse: collapse;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:8pt;">
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 3pt 0pt; width:126pt;">
              <div style="white-space:nowrap; text-align:center;">Signature </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 3pt 0pt; width:216pt;">
              <div style="white-space:nowrap; text-align:center;">Title </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 3pt 0pt; width:90pt;">
              <div style="white-space:nowrap; text-align:center;">Date </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:8.417pt 0pt 3.333pt 0pt; width:126pt;">
              <div>/s/ E. Robert Roskind</div>
              <div style="margin-top:2.5pt;">
                <div style="margin-left: 0pt; width: 126pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
              </div>
              <div style="margin-top:2pt;">E. Robert Roskind </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:8.417pt 0pt 3.333pt 0pt; width:216pt;">Chairman </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:8.417pt 0pt 3.333pt 0pt; width:90pt;text-align:center;">
              <div style="text-align:center;">February&#160;27, 2018 </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:8.667pt 0pt 3.333pt 0pt; width:126pt;">
              <div>/s/ T. Wilson Eglin</div>
              <div style="margin-top:2.5pt;">
                <div style="margin-left: 0pt; width: 126pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
              </div>
              <div style="margin-top:2pt;">T. Wilson Eglin </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:8.667pt 0pt 3.333pt 0pt; width:216pt;">Chief Executive Officer, President and Trustee <br ><font style="font-style:italic;">(principal executive officer)</font></td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:8.667pt 0pt 3.333pt 0pt; width:90pt;text-align:center;">
              <div style="text-align:center;">February&#160;27, 2018 </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:8.667pt 0pt 0.5pt 0pt; width:126pt;">
              <div>/s/ Patrick Carroll</div>
              <div style="margin-top:2.5pt;">
                <div style="margin-left: 0pt; width: 126pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
              </div>
              <div style="margin-top:2pt;">Patrick Carroll </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:8.667pt 0pt 0.5pt 0pt; width:216pt;white-space:normal;">Chief Financial Officer, Executive Vice President and Treasurer <br ><font style="font-style:italic;">(principal financial officer)</font></td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:8.667pt 0pt 0.5pt 0pt; width:90pt;text-align:center;">
              <div style="text-align:center;">February&#160;27, 2018 </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:8.667pt 0pt 0.5pt 0pt; width:126pt;">
              <div>/s/ Beth Boulerice</div>
              <div style="margin-top:2.5pt;">
                <div style="margin-left: 0pt; width: 126pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
              </div>
              <div style="margin-top:2pt;">Beth Boulerice </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:8.667pt 0pt 0.5pt 0pt; width:216pt;white-space:normal;">Executive Vice President and Chief Accounting Officer<br ><font style="font-style:italic;">(principal accounting officer)</font></td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:8.667pt 0pt 0.5pt 0pt; width:90pt;text-align:center;">
              <div style="text-align:center;">February&#160;27, 2018 </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:8.667pt 0pt 3.333pt 0pt; width:126pt;">
              <div>/s/ Harold First</div>
              <div style="margin-top:2.5pt;">
                <div style="margin-left: 0pt; width: 126pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
              </div>
              <div style="margin-top:2pt;">Harold First </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:8.667pt 0pt 3.333pt 0pt; width:216pt;">Trustee </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:8.667pt 0pt 3.333pt 0pt; width:90pt;text-align:center;">
              <div style="text-align:center;">February&#160;27, 2018 </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:8.667pt 0pt 3.333pt 0pt; width:126pt;">
              <div>/s/ Richard S. Frary</div>
              <div style="margin-top:2.5pt;">
                <div style="margin-left: 0pt; width: 126pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
              </div>
              <div style="margin-top:2pt;">Richard S. Frary </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:8.667pt 0pt 3.333pt 0pt; width:216pt;">Trustee </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:8.667pt 0pt 3.333pt 0pt; width:90pt;text-align:center;">
              <div style="text-align:center;">February&#160;27, 2018 </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:8.667pt 0pt 3.333pt 0pt; width:126pt;">
              <div>/s/ Lawrence L. Gray</div>
              <div style="margin-top:2.5pt;">
                <div style="margin-left: 0pt; width: 126pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
              </div>
              <div style="margin-top:2pt;">Lawrence L. Gray </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:8.667pt 0pt 3.333pt 0pt; width:216pt;">Trustee </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:8.667pt 0pt 3.333pt 0pt; width:90pt;text-align:center;">
              <div style="text-align:center;">February&#160;27, 2018</div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.667pt 0pt 3.333pt 0pt; width:126pt;">
              <div>/s/ Jamie Handwerker</div>
              <div style="margin-top:2.5pt;">
                <div style="margin-left: 0pt; width: 126pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
              </div>
              <div style="margin-top:2pt;">Jamie Handwerker</div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.667pt 0pt 3.333pt 0pt; width:216pt;">Trustee</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.667pt 0pt 3.333pt 0pt; width:90pt;text-align:center;">
              <div style="text-align:center;">February&#160;27, 2018</div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
      </div>
      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">II-9</div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a></div>
      <div style="margin-top:46pt;height:660pt;margin-left:70pt;width:456pt;">
        <table style="width:456pt;height:74.5pt;margin-top:0pt;border-collapse: collapse;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:8pt;">
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 3pt 0pt; width:126pt;">
              <div style="white-space:nowrap; text-align:center;">Signature </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 3pt 0pt; width:216pt;">
              <div style="white-space:nowrap; text-align:center;">Title </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 3pt 0pt; width:90pt;">
              <div style="white-space:nowrap; text-align:center;">Date </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.417pt 0pt 3.333pt 0pt; width:126pt;">
              <div>/s/ Claire A. Koeneman</div>
              <div style="margin-top:2.5pt;">
                <div style="margin-left: 0pt; width: 126pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
              </div>
              <div style="margin-top:2pt;">Claire A. Koeneman </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.417pt 0pt 3.333pt 0pt; width:216pt;">Trustee </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.417pt 0pt 3.333pt 0pt; width:90pt;text-align:center;">
              <div style="text-align:center;">February&#160;27, 2018</div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:8.667pt 0pt 3.333pt 0pt; width:126pt;">
              <div>/s/ Howard Roth</div>
              <div style="margin-top:2.5pt;">
                <div style="margin-left: 0pt; width: 126pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
              </div>
              <div style="margin-top:2pt;">Howard Roth </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:8.667pt 0pt 3.333pt 0pt; width:216pt;">Trustee </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:8.667pt 0pt 3.333pt 0pt; width:90pt;text-align:center;">
              <div style="text-align:center;">February&#160;27, 2018</div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
      </div>
      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">II-10</div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a></div>
      <div style="margin-top:46pt;height:660pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:11pt;font-weight:bold;">SIGNATURES </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Pursuant to the requirements of the Securities Act of 1933, as amended, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-3 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of New York, the State of New York, on February&#160;27, 2018. </div>
        <div style="text-indent:240pt; margin-top:6pt; width:456pt; line-height:12pt;font-weight:bold;">LEPERCQ CORPORATE INCOME FUND L.P. </div>
        <div style=" float:left; margin-left:240pt; line-height:12pt; margin-top:8.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">By:<br ></div>
        <div style=" float:left; margin-top:8.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:195.5pt;">Lex GP-1 Trust, its General Partner </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:240pt; line-height:12pt; margin-top:8.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">By:<br ></div>
        <div style=" float:left; margin-top:8.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:195.5pt;">/s/ T. Wilson Eglin</div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-left:260pt; margin-top:2.5pt; width:196pt;">
          <div style="margin-left: 0pt; width: 196pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style="margin-left:260pt; margin-top:2pt; width:196pt; line-height:12pt;">T. Wilson Eglin <br >President</div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:11pt;font-weight:bold;">POWER OF ATTORNEY </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Each person whose signature appears below authorizes T. Wilson Eglin and Patrick Carroll, and each of them, each of whom may act without joinder of the other, as his true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution, for him and in his name, place and stead, in any and all capacities to execute in the name of each such person who is then an officer or trustee of Lex GP-1 Trust, as the general partner of Lepercq Corporate Income Fund&#160;L.P., and to file any amendments (including post effective amendments) to this Registration Statement and any registration statement for the same offering filed pursuant to Rule&#160;462 under the Securities Act of 1933, as amended, and to file the same, with all exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises, as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents or their substitute or substitutes may lawfully do or cause to be done by virtue hereof. </div>
        <div style="text-indent:20pt; margin-top:6pt; width:456pt; line-height:12pt;">Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated: </div>
        <table style="width:456pt;height:102.5pt;margin-top:8pt;border-collapse: collapse;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:8pt;">
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 3pt 0pt; width:126pt;">
              <div style="white-space:nowrap; text-align:center;">Signature </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 3pt 0pt; width:216pt;">
              <div style="white-space:nowrap; text-align:center;">Title </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 3pt 0pt; width:90pt;">
              <div style="white-space:nowrap; text-align:center;">Date </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:8.417pt 0pt 3.333pt 0pt; width:126pt;">
              <div>/s/ T. Wilson Eglin</div>
              <div style="margin-top:2.5pt;">
                <div style="margin-left: 0pt; width: 126pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
              </div>
              <div style="margin-top:2pt;">T. Wilson Eglin </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:8.417pt 0pt 3.333pt 0pt; width:216pt;">President and Trustee of Lex GP-1 Trust <br ><font style="font-style:italic;">(principal executive officer)</font></td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:8.417pt 0pt 3.333pt 0pt; width:90pt;text-align:center;">
              <div style="text-align:center;">February&#160;27, 2018 </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:8.667pt 0pt 3.333pt 0pt; width:126pt;">
              <div>/s/ Patrick Carroll</div>
              <div style="margin-top:2.5pt;">
                <div style="margin-left: 0pt; width: 126pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
              </div>
              <div style="margin-top:2pt;">Patrick Carroll </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:8.667pt 0pt 3.333pt 0pt; width:216pt;white-space:normal;">Chief Financial Officer and Trustee <br >of Lex GP-1 Trust <br ><font style="font-style:italic;">(principal financial officer and principal accounting officer)</font></td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:8.667pt 0pt 3.333pt 0pt; width:90pt;text-align:center;">
              <div style="text-align:center;">February&#160;27, 2018</div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
      </div>
      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">II-11</div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a></div>
      <div style="margin-top:46pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:11pt;font-weight:bold;">EXHIBIT INDEX </div>
        <table style="width:456pt;margin-top:7pt;border-collapse: collapse;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:8pt;">
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:42pt;">
              <div style="white-space:nowrap; text-align:center;">Exhibit&#160;No. </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:402pt;">
              <div style="white-space:nowrap; text-align:center;">Description </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 0.5pt 0pt; width:42pt;">
              <div style="text-align:center;">1.1 </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 0.5pt 0pt; width:402pt;text-align:left;">Form of Underwriting Agreement<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(2)</font></td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667907000120/ex3-1_merger.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:42pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667907000120/ex3-1_merger.htm">4.1 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667907000120/ex3-1_merger.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667907000120/ex3-1_merger.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:402pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667907000120/ex3-1_merger.htm">Articles of Merger and Amended and Restated Declaration of Trust of LXP, dated December&#160;31, 2006 (filed as Exhibit&#160;3.1 to LXP&#8217;s Current Report on Form 8-K filed January&#160;8, 2007 (the &#8220;01/08/07 8-K&#8221;))<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667907000120/ex3-1_merger.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483813000065/exhibit34-111513.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:42pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483813000065/exhibit34-111513.htm">4.2 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483813000065/exhibit34-111513.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483813000065/exhibit34-111513.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:402pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483813000065/exhibit34-111513.htm">Articles Supplementary Relating to the Reclassification of 8.05% Series&#160;B Cumulative Redeemable Preferred Stock, par value $0.0001 per share, and 7.55% Series&#160;D Cumulative Redeemable Preferred Stock, par value $0.0001 per share (filed as Exhibit&#160;3.4 to LXP&#8217;s Current Report on Form 8-K filed November&#160;21, 2013)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483813000065/exhibit34-111513.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667907000120/ex3-2_bylaws.htm">&#8203;</a></td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:42pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667907000120/ex3-2_bylaws.htm">4.3 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667907000120/ex3-2_bylaws.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667907000120/ex3-2_bylaws.htm">&#8203;</a></td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:402pt;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667907000120/ex3-2_bylaws.htm">Amended and Restated By-laws of LXP (filed as Exhibit&#160;3.2 to the 01/08/07 8-K)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667907000120/ex3-2_bylaws.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483809000087/exhibit3_1.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:42pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483809000087/exhibit3_1.htm">4.4 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483809000087/exhibit3_1.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483809000087/exhibit3_1.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:402pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483809000087/exhibit3_1.htm">First Amendment to Amended and Restated By-laws of LXP (filed as Exhibit&#160;3.1 to LXP&#8217;s Current Report on Form 8-K filed November&#160;20, 2009)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483809000087/exhibit3_1.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000144483817000013/exhibit31.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:42pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000144483817000013/exhibit31.htm">4.5 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000144483817000013/exhibit31.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000144483817000013/exhibit31.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:402pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000144483817000013/exhibit31.htm">Second Amendment to the Amended and Restated By-laws of LXP (filed as Exhibit&#160;3.1 to LXP&#8217;s Current Report on Form 8-K filed April&#160;3, 2017)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000144483817000013/exhibit31.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000007/lxpex325_20131231-lciflpag.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:42pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000007/lxpex325_20131231-lciflpag.htm">4.6 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000007/lxpex325_20131231-lciflpag.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000007/lxpex325_20131231-lciflpag.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:402pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000007/lxpex325_20131231-lciflpag.htm">Sixth Amended and Restated Agreement of Limited Partnership of LCIF, dated as of December&#160;30, 2013 (filed as Exhibit&#160;3.25 to LXP&#8217;s Annual Report on Form 10-K filed February&#160;26, 2014)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000007/lxpex325_20131231-lciflpag.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012307003036/y31004exv4w1.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:42pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012307003036/y31004exv4w1.htm">4.7 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012307003036/y31004exv4w1.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012307003036/y31004exv4w1.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:402pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012307003036/y31004exv4w1.htm">Specimen of Common Shares Certificate of LXP (filed as Exhibit&#160;4.1 to LXP&#8217;s Annual Report on Form 10-K for the year ended December&#160;31, 2006)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012307003036/y31004exv4w1.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667904002420/lex8_a.txt">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:42pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667904002420/lex8_a.txt">4.8 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667904002420/lex8_a.txt">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667904002420/lex8_a.txt">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:402pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667904002420/lex8_a.txt">Form of 6.50% Series&#160;C Cumulative Convertible Preferred Stock certificate (filed as Exhibit&#160;4.1 to LXP&#8217;s Registration Statement on Form 8A filed December&#160;8, 2004)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667904002420/lex8_a.txt">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667907001009/trust-agmt.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:42pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667907001009/trust-agmt.htm">4.9 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667907001009/trust-agmt.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667907001009/trust-agmt.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:402pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667907001009/trust-agmt.htm">Amended and Restated Trust Agreement, dated March&#160;21, 2007, among LXP, The Bank of New York Trust Company, National Association, The Bank of New York (Delaware), the Administrative Trustees (as named therein) and the several holders of the Preferred Securities from time to time (filed as Exhibit&#160;4.1 to LXP&#8217;s Current Report on Form 8-K filed on March&#160;27, 2007 (the &#8220;03/27/07 8-K&#8221;))<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667907001009/trust-agmt.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667907001009/junior-indenture.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:42pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667907001009/junior-indenture.htm">&#8194;4.10 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667907001009/junior-indenture.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667907001009/junior-indenture.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:402pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667907001009/junior-indenture.htm">Junior Subordinated Indenture, dated as of March&#160;21, 2007, between LXP and The Bank of New York Trust Company, National Association (filed as Exhibit&#160;4.2 to the 03/27/07 8-K)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667907001009/junior-indenture.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114420413034735/v347541_ex4-1.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:42pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114420413034735/v347541_ex4-1.htm">&#8194;4.11 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114420413034735/v347541_ex4-1.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114420413034735/v347541_ex4-1.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:402pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114420413034735/v347541_ex4-1.htm">Indenture (Senior Debt), dated as of June&#160;10, 2013, among LXP, certain subsidiaries of the LXP signatories thereto, and U.S. Bank National Association, as trustee (filed as Exhibit&#160;4.1 to LXP&#8217;s Current Report on Form 8-K filed on June&#160;13, 2013)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114420413034735/v347541_ex4-1.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483813000057/exhibit42-10313.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:42pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483813000057/exhibit42-10313.htm">&#8194;4.12 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483813000057/exhibit42-10313.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483813000057/exhibit42-10313.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:402pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483813000057/exhibit42-10313.htm">First Supplemental Indenture, dated as of September&#160;30, 2013, among LXP, certain subsidiaries of the LXP signatories thereto, and U.S. Bank National Association, as trustee (filed as Exhibit&#160;4.2 to LXP&#8217;s Current Report on Form 8-K filed on October&#160;3, 2013)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483813000057/exhibit42-10313.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000114420414029759/v378161_ex4-1.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:42pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000114420414029759/v378161_ex4-1.htm">&#8194;4.13 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000114420414029759/v378161_ex4-1.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000114420414029759/v378161_ex4-1.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:402pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000114420414029759/v378161_ex4-1.htm">Indenture (Senior Debt), dated as of May&#160;9, 2014, among LXP, LCIF and U.S. Bank, as trustee (filed as Exhibit&#160;4.1 to the Company&#8217;s Current Report on Form 8-K filed May&#160;13, 2014)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000114420414029759/v378161_ex4-1.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000114420414032531/v379016_ex4-1.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:42pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000114420414032531/v379016_ex4-1.htm">&#8194;4.14 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000114420414032531/v379016_ex4-1.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000114420414032531/v379016_ex4-1.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:402pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000114420414032531/v379016_ex4-1.htm">First Supplemental Indenture, dated as of May&#160;20, 2014&#160;among LXP, LCIF and U.S. Bank, as trustee (filed as Exhibit&#160;4.1 to the Company&#8217;s Current Report on Form 8-K filed May&#160;20, 2014)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000114420414032531/v379016_ex4-1.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="tv486103_ex4-15.htm">&#8203;</a></td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:42pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="tv486103_ex4-15.htm">&#8194;4.15 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="tv486103_ex4-15.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="tv486103_ex4-15.htm">&#8203;</a></td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:402pt;text-align:left;"><a style="-sec-extract:exhibit" href="tv486103_ex4-15.htm">Form of Subordinated Debt Indenture<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(3)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="tv486103_ex4-15.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:42pt;">
              <div style="text-align:center;">&#8194;4.16 </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:402pt;text-align:left;">Form of Indenture Security issued under the Senior Debt Indenture<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(2)</font></td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:42pt;">
              <div style="text-align:center;">&#8194;4.17 </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:402pt;text-align:left;">Form of Indenture Security issued under the Subordinated Debt Indenture<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(2)</font></td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:42pt;">
              <div style="text-align:center;">&#8194;4.18 </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:402pt;white-space:normal;text-align:left;">Form of Deposit Agreement relating to the Depositary Shares (including Form of Depositary Receipt)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(2)</font></td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:42pt;">
              <div style="text-align:center;">&#8194;4.19 </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:402pt;text-align:left;">Form of Warrant Agreement<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(2)</font></td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:42pt;">
              <div style="text-align:center;">&#8194;4.20 </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:402pt;text-align:left;">Form of Warrant Certificate<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(2)</font></td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
      </div>
      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">II-12</div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a></div>
      <div style="margin-top:46pt;height:660pt;margin-left:70pt;width:456pt;">
        <table style="width:456pt;height:632.5pt;margin-top:0pt;border-collapse: collapse;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:8pt;">
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:42pt;">
              <div style="white-space:nowrap; text-align:center;">Exhibit&#160;No. </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:402pt;">
              <div style="white-space:nowrap; text-align:center;">Description </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:42pt;">
              <div style="text-align:center;">&#8199;&#8199;4.21 </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:402pt;text-align:left;">Form of Unit Agreement<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(2)</font></td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:42pt;">
              <div style="text-align:center;">&#8199;&#8199;4.22 </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:402pt;text-align:left;">Form of Unit Certificate<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(2)</font></td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:42pt;">
              <div style="text-align:center;">&#8199;&#8199;4.23 </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:402pt;text-align:left;">Form of Subscription Rights Agreement<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(2)</font></td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:42pt;">
              <div style="text-align:center;">&#8199;&#8199;4.24 </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:402pt;text-align:left;">Form of Subscription Rights Certificate<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(2)</font></td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:42pt;">
              <div style="text-align:center;">&#8199;&#8199;4.25 </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:402pt;text-align:left;">Articles Supplementary Classifying and Designating a Series of Preferred Stock<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(2)</font></td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:42pt;">
              <div style="text-align:center;">&#8199;&#8199;4.26 </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:402pt;text-align:left;">Form of Guarantee relating to the Debt Security<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(2)</font></td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="tv486103_ex5-1.htm">&#8203;</a></td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:42pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="tv486103_ex5-1.htm">&#8199;5.1 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="tv486103_ex5-1.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="tv486103_ex5-1.htm">&#8203;</a></td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:402pt;text-align:left;"><a style="-sec-extract:exhibit" href="tv486103_ex5-1.htm">Opinion of Paul Hastings LLP<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(3)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="tv486103_ex5-1.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="tv486103_ex5-2.htm">&#8203;</a></td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:42pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="tv486103_ex5-2.htm">&#8199;5.2 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="tv486103_ex5-2.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="tv486103_ex5-2.htm">&#8203;</a></td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:402pt;text-align:left;"><a style="-sec-extract:exhibit" href="tv486103_ex5-2.htm">Opinion of Venable LLP<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(3)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="tv486103_ex5-2.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="tv486103_ex8-1.htm">&#8203;</a></td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:42pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="tv486103_ex8-1.htm">&#8199;8.1 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="tv486103_ex8-1.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="tv486103_ex8-1.htm">&#8203;</a></td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:402pt;text-align:left;"><a style="-sec-extract:exhibit" href="tv486103_ex8-1.htm">Opinion of Paul Hastings LLP regarding tax matters<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(3)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="tv486103_ex8-1.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:42pt;">
              <div style="text-align:center;">10.1 </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:402pt;white-space:normal;text-align:left;">1994 Employee Stock Purchase Plan (filed as Exhibit&#160;D to LXP&#8217;s Definitive Proxy Statement dated April&#160;12, 1994)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)(4)</font></td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483817000019/exhibit101-form8xk51717.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:42pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483817000019/exhibit101-form8xk51717.htm">10.2 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483817000019/exhibit101-form8xk51717.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483817000019/exhibit101-form8xk51717.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:402pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483817000019/exhibit101-form8xk51717.htm">LXP&#8217;s Amended and Restated 2011 Equity-Based Award Plan (filed as Exhibit&#160;10.1 to LXP&#8217;s Current Report on Form 8-K filed May&#160;18, 2017)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)(4)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483817000019/exhibit101-form8xk51717.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012305003218/y06708exv10w15.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:42pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012305003218/y06708exv10w15.htm">10.3 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012305003218/y06708exv10w15.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012305003218/y06708exv10w15.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:402pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012305003218/y06708exv10w15.htm">Form of Compensation Agreement (Long-Term Compensation) between LXP and each of the following officers: Richard J. Rouse and Patrick Carroll (filed as Exhibit&#160;10.15 to LXP&#8217;s Annual Report on Form&#160;10-K for the year ended December&#160;31, 2004, filed on March&#160;16, 2005 (the &#8220;2004&#160;10-K&#8221;))<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)(4)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012305003218/y06708exv10w15.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012305003218/y06708exv10w16.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:42pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012305003218/y06708exv10w16.htm">10.4 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012305003218/y06708exv10w16.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012305003218/y06708exv10w16.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:402pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012305003218/y06708exv10w16.htm">Form of Compensation Agreement (Bonus and Long-Term Compensation) between LXP and each of the following officers: E. Robert Roskind and T. Wilson Eglin (filed as Exhibit&#160;10.16 to the 2004 10-K)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)(4)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012305003218/y06708exv10w16.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114036110047030/ex10_3.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:42pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114036110047030/ex10_3.htm">10.5 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114036110047030/ex10_3.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114036110047030/ex10_3.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:402pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114036110047030/ex10_3.htm">Form of Share Option Award Agreement (filed as Exhibit&#160;10.3 to LXP&#8217;s Current Report on Form 8-K/A filed on November&#160;24, 2010)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)(4)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114036110047030/ex10_3.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114036110047032/ex10_2.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:42pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114036110047032/ex10_2.htm">10.6 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114036110047032/ex10_2.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114036110047032/ex10_2.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:402pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114036110047032/ex10_2.htm">Form of 2010 Share Option Award Agreement (filed as Exhibit&#160;10.2 to LXP&#8217;s Current Report on Form 8-K/A filed November&#160;24, 2010)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)(4)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114036110047032/ex10_2.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483811000002/dec2010optionformexecutives.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:42pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483811000002/dec2010optionformexecutives.htm">10.7 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483811000002/dec2010optionformexecutives.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483811000002/dec2010optionformexecutives.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:402pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483811000002/dec2010optionformexecutives.htm">Form of December&#160;2010 Share Option Award Agreement (filed as Exhibit&#160;10.1 to LXP&#8217;s Current Report on Form 8-K filed January&#160;6, 2011)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)(4)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483811000002/dec2010optionformexecutives.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012309000031/y73623exv10w2.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:42pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012309000031/y73623exv10w2.htm">10.8 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012309000031/y73623exv10w2.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012309000031/y73623exv10w2.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:402pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012309000031/y73623exv10w2.htm">Amended and Restated Rabbi Trust Agreement, originally dated January&#160;26, 1999 (filed as Exhibit&#160;10.2 to LXP&#8217;s Current Report on Form&#160;8-K filed January&#160;2, 2009)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)(4)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012309000031/y73623exv10w2.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483818000002/ex101retirementagreement-r.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:42pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483818000002/ex101retirementagreement-r.htm">10.9 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483818000002/ex101retirementagreement-r.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483818000002/ex101retirementagreement-r.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:402pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483818000002/ex101retirementagreement-r.htm">Retirement Agreement, dated January&#160;18, 2018, between LXP and Richard J. Rouse (filed as Exhibit&#160;10.1 to LXP&#8217;s Current Report on Form 8-K filed January&#160;19, 2018 (the &#8220;1/19/18 8-K&#8221;))<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)(4)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483818000002/ex101retirementagreement-r.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483818000002/ex102retirementagreement-r.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:42pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483818000002/ex102retirementagreement-r.htm">&#8199;10.10 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483818000002/ex102retirementagreement-r.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483818000002/ex102retirementagreement-r.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:402pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483818000002/ex102retirementagreement-r.htm">Retirement Agreement, dated January&#160;18, 2018, between LXP and E. Robert Roskind (filed as Exhibit&#160;10.2 to the 1/19/18 8-K)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)(4)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483818000002/ex102retirementagreement-r.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483818000002/ex103executiveseveranceplan.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:42pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483818000002/ex103executiveseveranceplan.htm">&#8199;10.11 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483818000002/ex103executiveseveranceplan.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483818000002/ex103executiveseveranceplan.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:402pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483818000002/ex103executiveseveranceplan.htm">Lexington Realty Trust Executive Severance Plan with related Severance Policy Agreements with E. Robert Roskind, T. Wilson Eglin, Patrick Carroll, Joseph S. Bonventre and Beth Boulerice (filed as Exhibit&#160;10.3 to the 1/19/18 8-K)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)(4)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483818000002/ex103executiveseveranceplan.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000055/lxpex101-2014930eglin.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:42pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000055/lxpex101-2014930eglin.htm">&#8199;10.12 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000055/lxpex101-2014930eglin.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000055/lxpex101-2014930eglin.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:402pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000055/lxpex101-2014930eglin.htm">Employment Agreement, dated as of September&#160;11, 2014, and effective as of January&#160;15, 2015, between LXP and T. Wilson Eglin (filed as Exhibit&#160;10.1 to LXP&#8217;s Quarterly Report on Form&#160;10-Q for the quarter ended September&#160;30, 2014 filed November&#160;7, 2014 (the &#8220;09/30/14 10-Q&#8221;))<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)(4)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000055/lxpex101-2014930eglin.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000055/lxpex102-2014930roskind.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:42pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000055/lxpex102-2014930roskind.htm">&#8199;10.13 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000055/lxpex102-2014930roskind.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000055/lxpex102-2014930roskind.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:402pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000055/lxpex102-2014930roskind.htm">Employment Agreement, dated as of September&#160;11, 2014, and effective as of January&#160;15, 2015, between LXP and E. Robert Roskind (filed as Exhibit&#160;10.2 to the 09/30/14 10-Q)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)(4)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000055/lxpex102-2014930roskind.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000055/lxpex103-2014930rouse.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:42pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000055/lxpex103-2014930rouse.htm">&#8199;10.14 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000055/lxpex103-2014930rouse.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000055/lxpex103-2014930rouse.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:402pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000055/lxpex103-2014930rouse.htm">Employment Agreement, dated as of September&#160;11, 2014, and effective as of January&#160;15, 2015, between LXP and Richard J. Rouse (filed as Exhibit&#160;10.3 to the 09/30/14 10-Q)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)(4)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000055/lxpex103-2014930rouse.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000055/lxpex104-2014930carroll.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:42pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000055/lxpex104-2014930carroll.htm">&#8199;10.15 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000055/lxpex104-2014930carroll.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000055/lxpex104-2014930carroll.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:402pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000055/lxpex104-2014930carroll.htm">Employment Agreement, dated as of September&#160;11, 2014, and effective as of January&#160;15, 2015, between LXP and Patrick Carroll (filed as Exhibit&#160;10.4 to the 09/30/14 10-Q)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)(4)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000055/lxpex104-2014930carroll.htm">&#8203;</a></td>
          </tr>
        </table>
      </div>
      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">II-13</div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a></div>
      <div style="margin-top:46pt;margin-left:70pt;width:456pt;">
        <table style="width:456pt;margin-top:0pt;border-collapse: collapse;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:8pt;">
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:42pt;">
              <div style="white-space:nowrap; text-align:center;">Exhibit&#160;No. </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:402pt;">
              <div style="white-space:nowrap; text-align:center;">Description </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483813000004/exhibit101-retentiongranta.htm">&#8203;</a></td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:42pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483813000004/exhibit101-retentiongranta.htm">10.16 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483813000004/exhibit101-retentiongranta.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483813000004/exhibit101-retentiongranta.htm">&#8203;</a></td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:402pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483813000004/exhibit101-retentiongranta.htm">Form of Long-Term Retention Nonvested Share Agreement (filed as Exhibit&#160;10.1 to LXP&#8217;s Current Report on Form 8-K filed on January&#160;11, 2013)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)(4)</font><font style="font-size:7.5pt;"></font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483813000004/exhibit101-retentiongranta.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483815000002/ex101-nonvestedshareagreem.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:42pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483815000002/ex101-nonvestedshareagreem.htm">10.17 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483815000002/ex101-nonvestedshareagreem.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483815000002/ex101-nonvestedshareagreem.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:402pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483815000002/ex101-nonvestedshareagreem.htm">Form of 2015 Nonvested Share Agreement (Performance and Service) (filed as Exhibit&#160;10.1 to LXP&#8217;s Current Report on Form 8-K filed January&#160;9, 2015)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)(4)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483815000002/ex101-nonvestedshareagreem.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000144483817000010/ex1017nonvestedshareagreem.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:42pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000144483817000010/ex1017nonvestedshareagreem.htm">10.18 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000144483817000010/ex1017nonvestedshareagreem.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000144483817000010/ex1017nonvestedshareagreem.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:402pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000144483817000010/ex1017nonvestedshareagreem.htm">Form of 2017 Nonvested Share Agreement (Performance and Service) (filed as Exhibit&#160;10.17 to LXP&#8217;s Annual Report on Form&#160;10-K for the year ended December&#160;31, 2016 filed on February&#160;28, 2017)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)(4)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000144483817000010/ex1017nonvestedshareagreem.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012308014803/y72451exv10w20.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:42pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012308014803/y72451exv10w20.htm">10.19 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012308014803/y72451exv10w20.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012308014803/y72451exv10w20.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:402pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012308014803/y72451exv10w20.htm">Form of Amended and Restated Indemnification Agreement between LXP and certain officers and trustees (filed as Exhibit&#160;10.20 to LXP&#8217;s Quarterly Report on Form 10-Q for the quarter ended September&#160;30, 2008)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012308014803/y72451exv10w20.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667906001807/lfunding.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:42pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667906001807/lfunding.htm">10.20 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667906001807/lfunding.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667906001807/lfunding.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:402pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667906001807/lfunding.htm">Funding Agreement, dated as of July&#160;23, 2006, by and among LCIF, LCIF II and LXP (filed as Exhibit&#160;99.4 to LXP&#8217;s Current Report on Form 8-K filed on July&#160;24, 2006)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000111667906001807/lfunding.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/1333578/000104746905025547/a2164502zex-10_15.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:42pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/1333578/000104746905025547/a2164502zex-10_15.htm">10.21 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/1333578/000104746905025547/a2164502zex-10_15.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/1333578/000104746905025547/a2164502zex-10_15.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:402pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/1333578/000104746905025547/a2164502zex-10_15.htm">Letter Agreement among LXP (as successor by merger), Apollo Real Estate Investment Fund&#160;III, L.P., NKT Advisors LLC, Vornado Realty Trust, VNK Corp., Vornado Newkirk LLC, Vornado MLP GP LLC and WEM-Brynmawr Associates LLC (filed as Exhibit&#160;10.15 to Amendment No. 5 to Newkirk Registration Statement on Form S-11/A filed October&#160;28, 2005 (&#8220;Amendment No. 5 to NKT&#8217;s S-11&#8221;))<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/1333578/000104746905025547/a2164502zex-10_15.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/1333578/000104746905025547/a2164502zex-10_25.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:42pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/1333578/000104746905025547/a2164502zex-10_25.htm">10.22 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/1333578/000104746905025547/a2164502zex-10_25.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/1333578/000104746905025547/a2164502zex-10_25.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:402pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/1333578/000104746905025547/a2164502zex-10_25.htm">Amendment to the Letter Agreement among LXP (as successor by merger), Apollo Real Estate Investment Fund&#160;III, L.P., NKT Advisors LLC, Vornado Realty Trust, Vornado Realty L.P., VNK Corp., Vornado Newkirk LLC, Vornado MLP GP LLC, and WEM-Brynmawr Associates LLC (filed as Exhibit&#160;10.25 to Amendment No. 5 to NKT&#8217;s S-11)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/1333578/000104746905025547/a2164502zex-10_25.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483810000080/secondamendedrestatedwaiver.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:42pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483810000080/secondamendedrestatedwaiver.htm">10.23 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483810000080/secondamendedrestatedwaiver.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483810000080/secondamendedrestatedwaiver.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:402pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483810000080/secondamendedrestatedwaiver.htm">Second Amended and Restated Ownership Limit Waiver Agreement (Vornado), dated as of December&#160;6, 2010, between LXP and Vornado Realty, L.P. (together with certain affiliates) (filed as Exhibit&#160;10.1 to LXP&#8217;s Current Report on Form 8-K filed on December&#160;6, 2010)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483810000080/secondamendedrestatedwaiver.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000114420415053285/v419588_ex10-1.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:42pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000114420415053285/v419588_ex10-1.htm">10.24 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000114420415053285/v419588_ex10-1.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000114420415053285/v419588_ex10-1.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:402pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000114420415053285/v419588_ex10-1.htm">Credit Agreement, dated as of September&#160;1, 2015, among LXP and LCIF, as borrowers, each of the financial institutions initially a signatory thereto together with their assignees pursuant to 12/5 therein, and KeyBank National Association, as agent (filed as Exhibit&#160;10.1 to LXP&#8217;s Current Report on Form 8-K filed on September&#160;1, 2015)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000114420415053285/v419588_ex10-1.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000144483817000029/exhibit10110217agreement.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:42pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000144483817000029/exhibit10110217agreement.htm">10.25 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000144483817000029/exhibit10110217agreement.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000144483817000029/exhibit10110217agreement.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:402pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000144483817000029/exhibit10110217agreement.htm">First Amendment to Credit Agreement and Agreement Regarding Revolving Line Commitment and Term Loan Increases, dated as of September&#160;29, 2017, among LXP and LCIF, as borrowers, and KeyBank National Association, as agent (filed as Exhibit&#160;10.1 to LXP&#8217;s Current Report on Form 8-K filed on October&#160;2, 2017)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/790877/000144483817000029/exhibit10110217agreement.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114036110047034/ex10_1.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:42pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114036110047034/ex10_1.htm">10.26 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114036110047034/ex10_1.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114036110047034/ex10_1.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:402pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114036110047034/ex10_1.htm">Ownership Limitation Waiver Agreement (BlackRock), dated as of November&#160;18, 2010 (filed as of Exhibit&#160;10.1 to LXP&#8217;s Current Report on Form 8-K filed on November&#160;24, 2010 (the &#8220;11/24/10 8-K&#8221;))<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114036110047034/ex10_1.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000026/exhibit101-42914x01.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:42pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000026/exhibit101-42914x01.htm">10.27 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000026/exhibit101-42914x01.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000026/exhibit101-42914x01.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:402pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000026/exhibit101-42914x01.htm">First Amendment to Ownership Limitation Waiver Agreement (BlackRock), dated April&#160;25, 2014 (filed as Exhibit&#160;10.1 to LXP&#8217;s Current Report on Form 8-K filed on April&#160;29, 2014)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483814000026/exhibit101-42914x01.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114036110047034/ex10_2.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:42pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114036110047034/ex10_2.htm">10.28 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114036110047034/ex10_2.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114036110047034/ex10_2.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:402pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114036110047034/ex10_2.htm">Ownership Limitation Waiver Agreement (Cohen &amp; Steers), dated as of November&#160;18, 2010 (filed as Exhibit&#160;10.2 to the 11/24/10 8-K)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000114036110047034/ex10_2.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483811000007/exhibit.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:42pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483811000007/exhibit.htm">10.29 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483811000007/exhibit.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483811000007/exhibit.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:402pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483811000007/exhibit.htm">First Amendment to Ownership Limitation Waiver Agreement (Cohen &amp; Steers), dated as of&#160;April&#160;19, 2011 (filed as Exhibit&#160;10.1 to LXP&#8217;s Current Report on Form 8-K filed on April&#160;25,&#160;2011)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000144483811000007/exhibit.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012308014587/y72445exv10w3.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:42pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012308014587/y72445exv10w3.htm">10.30 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012308014587/y72445exv10w3.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012308014587/y72445exv10w3.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:402pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012308014587/y72445exv10w3.htm">Amended and Restated Registration Rights Agreement, dated as of November&#160;3, 2008, between LXP and Vornado Realty, L.P. and Vornado LXP LLC (filed as Exhibit&#160;10.3 to LXP&#8217;s Current Report on Form&#160;8-K filed November&#160;6, 2008)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(1)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="http://www.sec.gov/Archives/edgar/data/910108/000095012308014587/y72445exv10w3.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="tv486103_ex12-1.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:42pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="tv486103_ex12-1.htm">12.1&#8194; </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="tv486103_ex12-1.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="tv486103_ex12-1.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.5pt 0pt; width:402pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="tv486103_ex12-1.htm">Statement of Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Share Dividends and Ratio of Earnings for LXP<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(3)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="tv486103_ex12-1.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="tv486103_ex12-2.htm">&#8203;</a></td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:42pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="tv486103_ex12-2.htm">12.2&#8194; </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="tv486103_ex12-2.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="tv486103_ex12-2.htm">&#8203;</a></td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:402pt;text-align:left;"><a style="-sec-extract:exhibit" href="tv486103_ex12-2.htm">Statement of Computation of Ratio of Earnings to Combined Fixed Charges for LCIF<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(3)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="tv486103_ex12-2.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="tv486103_ex23-1.htm">&#8203;</a></td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:42pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="tv486103_ex23-1.htm">23.1&#8194; </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="tv486103_ex23-1.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="tv486103_ex23-1.htm">&#8203;</a></td>
            <td style="padding:3.5pt 0pt 0.5pt 0pt; width:402pt;text-align:left;"><a style="-sec-extract:exhibit" href="tv486103_ex23-1.htm">Consent of Deloitte &amp; Touche LLP re: LXP<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(3)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="tv486103_ex23-1.htm">&#8203;</a></td>
          </tr>
        </table>
      </div>
      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">II-14</div>
      </div>
      <hr >
    </div>
    <div style=" width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;"><a style="text-decoration:none;color:#003366;" href="#TOC">TABLE OF CONTENTS</a></div>
      <div style="margin-top:46pt;height:660pt;margin-left:70pt;width:456pt;">
        <table style="width:456pt;height:122.5pt;margin-top:0pt;border-collapse: collapse;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:8pt;">
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:42pt;">
              <div style="white-space:nowrap; text-align:center;">Exhibit&#160;No. </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:402pt;">
              <div style="white-space:nowrap; text-align:center;">Description </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="tv486103_ex23-2.htm">&#8203;</a></td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:42pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="tv486103_ex23-2.htm">23.2&#8194; </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="tv486103_ex23-2.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="tv486103_ex23-2.htm">&#8203;</a></td>
            <td style="padding:3.25pt 0pt 1.5pt 0pt; width:402pt;text-align:left;"><a style="-sec-extract:exhibit" href="tv486103_ex23-2.htm">Consent of Deloitte &amp; Touche LLP re: LCIF<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(3)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="tv486103_ex23-2.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="tv486103_ex23-3.htm">&#8203;</a></td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:42pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="tv486103_ex23-3.htm">23.3&#8194; </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="tv486103_ex23-3.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="tv486103_ex23-3.htm">&#8203;</a></td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:402pt;text-align:left;"><a style="-sec-extract:exhibit" href="tv486103_ex23-3.htm">Consent of KPMG LLP re: LXP<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(3)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="tv486103_ex23-3.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="tv486103_ex23-4.htm">&#8203;</a></td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:42pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="tv486103_ex23-4.htm">23.4&#8194; </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="tv486103_ex23-4.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="tv486103_ex23-4.htm">&#8203;</a></td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:402pt;text-align:left;"><a style="-sec-extract:exhibit" href="tv486103_ex23-4.htm">Consent of KPMG LLP re: LCIF<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(3)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="tv486103_ex23-4.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="#tPOA">&#8203;</a></td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:42pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="#tPOA">24.1 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="#tPOA">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="#tPOA">&#8203;</a></td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:402pt;text-align:left;"><a style="-sec-extract:exhibit" href="#tPOA">Power of Attorney (included in the signature pages to this registration statement)<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(3)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="#tPOA">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="tv486103_ex25-1.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:42pt;">
              <div style="text-align:center;"><a style="-sec-extract:exhibit" href="tv486103_ex25-1.htm">25.1 </a></div>
            </td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="tv486103_ex25-1.htm">&#8203;</a></td>
            <td style="padding:0pt; width:6pt;"><a style="-sec-extract:exhibit" href="tv486103_ex25-1.htm">&#8203;</a></td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:402pt;white-space:normal;text-align:left;"><a style="-sec-extract:exhibit" href="tv486103_ex25-1.htm">Statement of Eligibility of U.S. Bank National Association, as Trustee, on Form T-1 to act as trustee under the Senior Debt Indenture<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(3)</font></a></td>
            <td style="padding:0pt; width:0pt;"><a style="-sec-extract:exhibit" href="tv486103_ex25-1.htm">&#8203;</a></td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:42pt;">
              <div style="text-align:center;">25.2</div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:2.167pt 0pt 0.833pt 0pt; width:402pt;white-space:normal;text-align:left;">Statement of Eligibility of U.S. Bank National Association, as Trustee, on Form&#160;T-1 to act as trustee under the Subordinated Debt Indenture<font style=" position:relative; bottom:4.25pt;font-size:7.5pt;">(2)</font></td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:14.49pt; width:456pt;">
          <div style="margin-left: 0pt; width: 108pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style=" float:left; margin-top:11.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(1)<br ></div>
        <div style=" float:left; margin-top:11.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:435.5pt;">Incorporated by reference. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:9.97pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(2)<br ></div>
        <div style=" float:left; margin-top:9.97pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:435.5pt;">To be filed by amendment or incorporated by reference in connection with the offering of the offered securities. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(3)<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:435.5pt;">Filed herewith. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:9.98pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">(4)<br ></div>
        <div style=" float:left; margin-top:9.98pt; margin-bottom:0pt; line-height:12pt; text-align:left; width:435.5pt;">Management contract or compensatory plan or arrangement. </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="clear:both;font-size:0pt;">&#8203;</div>
      <div style="margin-top:16pt;margin-bottom:21.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:11pt;">II-15</div>
      </div>
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<DOCUMENT>
<TYPE>EX-4.15
<SEQUENCE>2
<FILENAME>tv486103_ex4-15.htm
<DESCRIPTION>EXHIBIT 4.15
<TEXT>
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<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit 4.15</B></P>

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5.75pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Table
of Contents*</B></FONT></P>

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    <TD STYLE="width: 15%; text-align: left; font-weight: bold; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="width: 75%; text-align: left; font-weight: bold; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: center; font-weight: bold; vertical-align: bottom">Page</TD></TR>
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    <TD COLSPAN="3" STYLE="vertical-align: top; text-align: center">ARTICLE I.</TD></TR>
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    <TD COLSPAN="3" STYLE="vertical-align: top; text-align: center">DEFINITIONS</TD></TR>
<TR STYLE="background-color: White">
    <TD COLSPAN="2" STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; vertical-align: bottom">Section 1.01</TD>
    <TD STYLE="text-align: left; vertical-align: bottom">Definitions of Terms</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">1</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: left; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: bottom">&ldquo;Authenticating Agent&rdquo;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">1</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: bottom">&ldquo;Bankruptcy Law&rdquo;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">1</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: left; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: bottom">&ldquo;Board of Directors&rdquo;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">1</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: bottom">&ldquo;Board Resolution&rdquo;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">2</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: left; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: bottom">&ldquo;Business Day&rdquo;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">2</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: bottom">&ldquo;Certificate&rdquo;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">2</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: left; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: bottom">&ldquo;Company&rdquo;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">2</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: bottom">&ldquo;Corporate Trust Office&rdquo;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">2</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: left; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: bottom">&ldquo;Custodian&rdquo;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">2</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: bottom">&ldquo;Default&rdquo;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">2</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: left; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: bottom">&ldquo;Defaulted Interest&rdquo;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">2</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: bottom">&ldquo;Depositary&rdquo;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">2</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: left; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: bottom">&ldquo;Event of Default&rdquo;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">2</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: bottom">&ldquo;Exchange Act&rdquo;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">2</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: left; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: bottom">&ldquo;Global Security&rdquo;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">2</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: bottom">&ldquo;Governmental Obligations&rdquo;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">3</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: left; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: bottom">&ldquo;herein&rdquo;, &ldquo;hereof&rdquo; and &ldquo;hereunder&rdquo;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">3</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: bottom">&ldquo;Indenture&rdquo;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">3</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: left; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: bottom">&ldquo;Interest Payment Date&rdquo;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">3</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: bottom">&ldquo;Officer&rsquo;s Certificate&rdquo;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">3</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: left; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: bottom">&ldquo;Opinion of Counsel&rdquo;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">3</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: bottom">&ldquo;Outstanding&rdquo;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">3</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: left; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: bottom">&ldquo;Person&rdquo;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">4</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: bottom">&ldquo;Predecessor Security&rdquo;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">4</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: left; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: bottom">&ldquo;Responsible Officer&rdquo;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">4</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: bottom">&ldquo;Securities&rdquo;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">4</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: left; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: bottom">&ldquo;Securityholder&rdquo;, &ldquo;holder of Securities&rdquo;, &ldquo;registered holder&rdquo;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">4</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: bottom">&ldquo;Security Register&rdquo; and &ldquo;Security Registrar&rdquo;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">4</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: left; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: bottom">&ldquo;Subsidiary&rdquo;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">4</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: bottom">&ldquo;Trustee&rdquo;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">4</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: left; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: bottom">&ldquo;Trust Indenture Act&rdquo;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">5</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left; font-weight: bold">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; font-weight: bold"><FONT STYLE="font-weight: normal">&ldquo;Voting Stock&rdquo;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font-weight: bold"><FONT STYLE="font-weight: normal">5</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD COLSPAN="3" STYLE="vertical-align: top; text-align: center">ARTICLE II.</TD></TR>
<TR STYLE="background-color: White">
    <TD COLSPAN="3" STYLE="vertical-align: top; text-align: center">ISSUE, DESCRIPTION, TERMS, EXECUTION REGISTRATION AND EXCHANGE OF SECURITIES</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 2.01</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Designation and Terms of Securities</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">5</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 2.02</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Form of Securities and Trustee&rsquo;s Certificate</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">7</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 2.03</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Denominations; Provisions for Payment</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">8</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">*</TD><TD STYLE="text-align: justify">This Table of Contents does not constitute part of the
Indenture and shall not have any bearing on the interpretation of any of its terms or provisions.</TD>
</TR></TABLE>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.75pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Table
of Contents</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.75pt; text-align: center">(continued)</P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: bottom; width: 15%; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 75%; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 10%; text-align: center"><B>Page</B></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 2.04</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Execution and Authentications</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">9</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 2.05</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Registration of Transfer and Exchange</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">10</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 2.06</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Temporary Securities</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">11</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 2.07</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Mutilated, Destroyed, Lost or Stolen Securities</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">11</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 2.08</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Cancellation</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">12</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 2.09</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Benefits of Indenture</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">12</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 2.10</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Authenticating Agent</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">13</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left; font-weight: bold"><FONT STYLE="font-weight: normal">Section 2.11</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: left; font-weight: bold"><FONT STYLE="font-weight: normal">Global Securities</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font-weight: bold"><FONT STYLE="font-weight: normal">13</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left; font-weight: bold">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; font-weight: bold">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD COLSPAN="3" STYLE="vertical-align: top; text-align: center">ARTICLE III.</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD COLSPAN="3" STYLE="vertical-align: top; text-align: center">REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS</TD></TR>
<TR STYLE="background-color: White">
    <TD COLSPAN="2" STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 3.01</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Redemption</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">14</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 3.02</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Notice of Redemption</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">14</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 3.03</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Payment Upon Redemption</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">16</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 3.04</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Sinking Fund</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">16</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 3.05</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Satisfaction of Sinking Fund Payments with Securities</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">16</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left; font-weight: bold"><FONT STYLE="font-weight: normal">Section 3.06</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: left; font-weight: bold"><FONT STYLE="font-weight: normal">Redemption of Securities for Sinking Fund</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font-weight: bold"><FONT STYLE="font-weight: normal">17</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left; font-weight: bold">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; font-weight: bold">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD COLSPAN="3" STYLE="vertical-align: top; text-align: center">ARTICLE IV.</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD COLSPAN="3" STYLE="vertical-align: top; text-align: center">CERTAIN COVENANTS</TD></TR>
<TR STYLE="background-color: White">
    <TD COLSPAN="2" STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 4.01</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Payment of Principal, Premium and Interest</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">17</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 4.02</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Maintenance of Office or Agency</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">17</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 4.03</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Paying Agents</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">18</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 4.04</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Appointment to Fill Vacancy in Office of Trustee</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">19</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left; font-weight: bold"><FONT STYLE="font-weight: normal">Section 4.05</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: left; font-weight: bold"><FONT STYLE="font-weight: normal">Compliance with Consolidation Provisions</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font-weight: bold"><FONT STYLE="font-weight: normal">19</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left; font-weight: bold">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; font-weight: bold">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD COLSPAN="3" STYLE="vertical-align: top; text-align: center">ARTICLE V.</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD COLSPAN="3" STYLE="vertical-align: top; text-align: center">SECURITYHOLDERS&rsquo; LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE</TD></TR>
<TR STYLE="background-color: White">
    <TD COLSPAN="2" STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 5.01</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Company to Furnish Trustee Names and Addresses of Securityholders</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">19</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 5.02</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Preservation of Information; Communications with Securityholders</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">19</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 5.03</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Reports by the Company</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">20</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left; font-weight: bold"><FONT STYLE="font-weight: normal">Section 5.04</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: left; font-weight: bold"><FONT STYLE="font-weight: normal">Reports by the Trustee</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font-weight: bold"><FONT STYLE="font-weight: normal">21</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left; font-weight: bold">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; font-weight: bold">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD COLSPAN="3" STYLE="vertical-align: top; text-align: center">ARTICLE VI.</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD COLSPAN="3" STYLE="vertical-align: top; text-align: center">REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT</TD></TR>
<TR STYLE="background-color: White">
    <TD COLSPAN="2" STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 6.01</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Events of Default</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">21</TD></TR>
</TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.75pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Table
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: bottom; width: 15%; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 75%; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 10%; text-align: center"><B>Page</B></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 6.02</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Collection of Indebtedness and Suits for Enforcement by Trustee</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">23</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 6.03</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Application of Moneys Collected</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">24</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 6.04</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Limitation on Suits</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">25</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 6.05</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Rights and Remedies Cumulative; Delay or Omission Not Waiver</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">26</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 6.06</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Control by Securityholders</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">26</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left; font-weight: bold"><FONT STYLE="font-weight: normal">Section 6.07</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: left; font-weight: bold"><FONT STYLE="font-weight: normal">Undertaking to Pay Costs</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font-weight: bold"><FONT STYLE="font-weight: normal">27</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left; font-weight: bold">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; font-weight: bold">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD COLSPAN="3" STYLE="vertical-align: top; text-align: center">ARTICLE VII.</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD COLSPAN="3" STYLE="vertical-align: top; text-align: center">CONCERNING THE TRUSTEE</TD></TR>
<TR STYLE="background-color: White">
    <TD COLSPAN="2" STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 7.01</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Certain Duties and Responsibilities of Trustee</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">27</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 7.02</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Certain Rights of Trustee</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">28</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 7.03</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Trustee Not Responsible for Recitals or Issuance or Securities</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">30</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 7.04</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">May&nbsp;Hold Securities</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">30</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 7.05</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Moneys Held in Trust</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">30</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 7.06</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Compensation and Reimbursement</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">30</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 7.07</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Reliance on Officer&rsquo;s Certificate</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">31</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 7.08</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Disqualification; Conflicting Interests</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">31</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 7.09</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Corporate Trustee Required; Eligibility</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">31</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 7.10</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Resignation and Removal; Appointment of Successor</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">32</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 7.11</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Acceptance of Appointment By Successor</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">33</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 7.12</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Merger, Conversion, Consolidation or Succession to Business</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">34</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 7.13</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Preferential Collection of Claims Against the Company</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">34</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left; font-weight: bold"><FONT STYLE="font-weight: normal">Section 7.14</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: left; font-weight: bold"><FONT STYLE="font-weight: normal">Notice of Default</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font-weight: bold"><FONT STYLE="font-weight: normal">35</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left; font-weight: bold">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; font-weight: bold">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD COLSPAN="3" STYLE="vertical-align: top; text-align: center">ARTICLE VIII.</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD COLSPAN="3" STYLE="vertical-align: top; text-align: center">CONCERNING THE SECURITYHOLDERS</TD></TR>
<TR STYLE="background-color: White">
    <TD COLSPAN="2" STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 8.01</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Evidence of Action by Securityholders</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">35</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 8.02</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Proof of Execution by Securityholders</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">35</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 8.03</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Who May&nbsp;be Deemed Owners</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">36</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 8.04</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Certain Securities Owned by Company Disregarded</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">36</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left; font-weight: bold"><FONT STYLE="font-weight: normal">Section 8.05</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: left; font-weight: bold"><FONT STYLE="font-weight: normal">Actions Binding on Future Securityholders</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font-weight: bold"><FONT STYLE="font-weight: normal">36</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left; font-weight: bold">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; font-weight: bold">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD COLSPAN="3" STYLE="vertical-align: top; text-align: center">ARTICLE IX.</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD COLSPAN="3" STYLE="vertical-align: top; text-align: center">SUPPLEMENTAL INDENTURES</TD></TR>
<TR STYLE="background-color: White">
    <TD COLSPAN="2" STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 9.01</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Supplemental Indentures Without the Consent of Securityholders</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">37</TD></TR>
</TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.75pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Table
of Contents</B></FONT></P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: bottom; width: 15%; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 75%; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 10%; text-align: center"><B>Page</B></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 9.02</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Supplemental Indentures With Consent of Securityholders</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">38</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 9.03</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Effect of Supplemental Indentures</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">40</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 9.04</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Securities Affected by Supplemental Indentures</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">40</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left; font-weight: bold"><FONT STYLE="font-weight: normal">Section 9.05</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: left; font-weight: bold"><FONT STYLE="font-weight: normal">Execution of Supplemental Indentures</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font-weight: bold"><FONT STYLE="font-weight: normal">40</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left; font-weight: bold">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; font-weight: bold">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD COLSPAN="3" STYLE="vertical-align: top; text-align: center">ARTICLE X.</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD COLSPAN="3" STYLE="vertical-align: top; text-align: center">SUCCESSOR CORPORATION</TD></TR>
<TR STYLE="background-color: White">
    <TD COLSPAN="2" STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 10.01</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Company May&nbsp;Consolidate, Etc</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">41</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 10.02</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Successor Corporation Substituted</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">41</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left; font-weight: bold"><FONT STYLE="font-weight: normal">Section 10.03</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: left; font-weight: bold"><FONT STYLE="font-weight: normal">Evidence of Consolidation, Etc to Trustee</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font-weight: bold"><FONT STYLE="font-weight: normal">42</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left; font-weight: bold">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; font-weight: bold">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD COLSPAN="3" STYLE="vertical-align: bottom; text-align: center">ARTICLE XI.</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD COLSPAN="3" STYLE="vertical-align: top; text-align: center">SATISFACTION AND DISCHARGE</TD></TR>
<TR STYLE="background-color: White">
    <TD COLSPAN="2" STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 11.01</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Satisfaction and Discharge of Indenture</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">42</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 11.02</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Discharge of Obligations</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">43</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 11.03</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Deposited Moneys to be Held in Trust</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">43</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 11.04</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Payment of Moneys Held by Paying Agents</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">43</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left; font-weight: bold"><FONT STYLE="font-weight: normal">Section 11.05</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: left; font-weight: bold"><FONT STYLE="font-weight: normal">Repayment to Company</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font-weight: bold"><FONT STYLE="font-weight: normal">43</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left; font-weight: bold">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; font-weight: bold">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="3" STYLE="text-align: center">ARTICLE XII.</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="3" STYLE="text-align: center">IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left; font-weight: bold"><FONT STYLE="font-weight: normal">Section 12.01</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: left; font-weight: bold"><FONT STYLE="font-weight: normal">No Recourse</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font-weight: bold"><FONT STYLE="font-weight: normal">44</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left; font-weight: bold">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; font-weight: bold">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD COLSPAN="3" STYLE="vertical-align: top; text-align: center; font-weight: bold"><FONT STYLE="font-weight: normal">ARTICLE XIII.</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD COLSPAN="3" STYLE="vertical-align: top; text-align: center; font-weight: bold"><FONT STYLE="font-weight: normal">MISCELLANEOUS PROVISIONS</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD COLSPAN="2" STYLE="vertical-align: top; text-align: center; font-weight: bold">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 13.01</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Effect on Successors and Assigns</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">44</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 13.02</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Actions by Successor</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">44</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 13.03</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Surrender of Company Powers</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">44</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 13.04</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Notices</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">45</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 13.05</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Governing Law</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">45</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 13.06</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Treatment of Securities as Debt</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">45</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 13.07</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Compliance Certificates and Opinions</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">45</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 13.08</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Payments on Business Days</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">46</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 13.09</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Conflict with Trust Indenture Act</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">46</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 13.10</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Counterparts</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">46</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left">Section 13.11</TD>
    <TD STYLE="vertical-align: bottom; text-align: left">Separability</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">46</TD></TR>
</TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.75pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Table
of Contents</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.75pt; text-align: center">(continued)</P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: bottom; width: 15%; text-align: left; font-weight: bold">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 75%; text-align: left; font-weight: bold">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 10%; text-align: center; font-weight: bold">Page</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; text-align: left; font-weight: bold">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; font-weight: bold">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: bottom; text-align: left; font-weight: bold"><FONT STYLE="font-weight: normal">Section 13.12</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: left; font-weight: bold"><FONT STYLE="font-weight: normal">Compliance Certificates</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font-weight: bold"><FONT STYLE="font-weight: normal">46</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: bottom; text-align: left; font-weight: bold">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; font-weight: bold">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="text-align: center">ARTICLE XIV.</TD>
    <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="text-align: center">SUBORDINATION OF SECURITIES</TD>
    <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; vertical-align: bottom">Section 14.01</TD>
    <TD STYLE="text-align: left; vertical-align: bottom">Subordination Terms</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">47</TD></TR>
</TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">INDENTURE, dated as of [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], 20[&nbsp;&nbsp;], among Lexington
Realty Trust, a Maryland real estate investment trust (the &ldquo;Company&rdquo;), and [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], a [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], as trustee (the &ldquo;Trustee&rdquo;):</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">WHEREAS, for its lawful corporate purposes,
the Company has duly authorized the execution and delivery of this Indenture to provide for the issuance of subordinated debt securities
(hereinafter referred to as the &ldquo;Securities&rdquo;), in an unlimited aggregate principal amount to be issued from time to
time in one or more series as in this Indenture provided, as registered Securities without coupons, to be authenticated by the
certificate of the Trustee;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">WHEREAS, to provide the terms and conditions
upon which the Securities are to be authenticated, issued and delivered, the Company has duly authorized the execution of this
Indenture; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">WHEREAS, all things necessary to make this Indenture
a valid agreement of the Company, in accordance with its terms, have been done.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">NOW, THEREFORE, in consideration of the premises
and the purchase of the Securities by the holders thereof, it is mutually covenanted and agreed as follows for the equal and ratable
benefit of the holders of Securities:</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase">Article
I.</FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 1.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Definitions
of Terms</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The terms defined in this Section (except as
in this Indenture or any indenture supplemental hereto otherwise expressly provided or unless the context otherwise requires) for
all purposes of this Indenture and of any indenture supplemental hereto shall have the respective meanings specified in this Section
and shall include the plural as well as the singular. All other terms used in this Indenture that are defined in the Trust Indenture
Act or that are by reference in such Trust Indenture Act defined in the Securities Act (except as herein otherwise expressly provided
or unless the context otherwise requires), shall have the meanings assigned to such terms in said Trust Indenture Act and in said
Securities Act as in force at the date of the execution of this instrument.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;Authenticating Agent&rdquo; means an
authenticating agent with respect to all or any of the series of Securities appointed with respect to all or any series of the
Securities by the Trustee pursuant to Section 2.10.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;Bankruptcy Law&rdquo; means Title 11,
U.S. Code, or any similar federal or state law for the relief of debtors.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;Board of Directors&rdquo; means the Board
of Directors of the Company or any duly authorized committee of such Board.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;Board Resolution&rdquo; means a copy
of a resolution certified by the Secretary or an Assistant Secretary of the Company to have been duly adopted by the Board of Directors
and to be in full force and effect on the date of such certification.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;Business Day&rdquo; means, with respect
to any series of Securities, any day other than a day on which federal or state banking institutions in the Borough of Manhattan,
the City of New York or in the city of the Corporate Trust Office of the Trustee, are authorized or obligated by law, executive
order or regulation to close.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;Certificate&rdquo; means a certificate
signed by the principal executive officer, the principal financial officer, the treasurer or the principal accounting officer of
the Company. The Certificate need not comply with the provisions of Section 13.07.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;Company&rdquo; means Lexington Realty
Trust, a real estate investment trust duly organized and existing under the laws of the State of Maryland, and, subject to the
provisions of Article Ten, shall also include its successors and assigns.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;Corporate Trust Office&rdquo; means the
office of the Trustee at which, at any particular time, its corporate trust business shall be principally administered, which office
at the date hereof is located at [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], except that whenever a provision herein refers to an office or agency of the Trustee in the
City of [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ], [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ], such office is located, at the date hereof, at [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;].</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;Custodian&rdquo; means any receiver,
trustee, assignee, liquidator, or similar official under any Bankruptcy Law.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;Default&rdquo; means any event, act or
condition that with notice or lapse of time, or both, would constitute an Event of Default.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;Defaulted Interest&rdquo; has the meaning
set forth in Section 2.03.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;Depositary&rdquo; means, with respect
to Securities of any series for which the Company shall determine that such Securities will be issued as a Global Security, The
Depository Trust Company, another clearing agency, or any successor registered as a clearing agency under the Exchange Act, or
other applicable statute or regulation, which, in each case, shall be designated by the Company pursuant to either Section 2.01
or 2.11.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;Event of Default&rdquo; means, with respect
to Securities of a particular series, any event specified in Section 6.01, continued for the period of time, if any, therein designated.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;Exchange Act&rdquo; means the Securities
and Exchange Act of 1934, as amended.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;Global Security&rdquo; means, with respect
to any series of Securities, a Security executed by the Company and delivered by the Trustee to the Depositary or pursuant to the
Depositary&rsquo;s instruction, all in accordance with the Indenture, which shall be registered in the name of the Depositary or
its nominee.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;Governmental Obligations&rdquo; means
securities that are (i)&nbsp;direct obligations of the United States of America for the payment of which its full faith and credit
is pledged or (ii)&nbsp;obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the United
States of America, the payment of which is unconditionally guaranteed as a full faith and credit obligation by the United States
of America that, in either case, are not callable or redeemable at the option of the issuer thereof at any time prior to the stated
maturity of the Securities, and shall also include a depositary receipt issued by a bank or trust company as custodian with respect
to any such Governmental Obligation or a specific payment of principal of or interest on any such Governmental Obligation held
by such custodian for the account of the holder of such depositary receipt; provided, however, that (except as required by law)
such custodian is not authorized to make any deduction from the amount payable to the holder of such depositary receipt from any
amount received by the custodian in respect of the Governmental Obligation or the specific payment of principal of or interest
on the Governmental Obligation evidenced by such depositary receipt.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;herein&rdquo;, &ldquo;hereof&rdquo; and
&ldquo;hereunder&rdquo;, and other words of similar import, refer to this Indenture as a whole and not to any particular Article,
Section or other subdivision.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;Indenture&rdquo; means this instrument
as originally executed or as it may from time to time be supplemented or amended by one or more indentures supplemental hereto
entered into in accordance with the terms hereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;Interest Payment Date&rdquo;, when used
with respect to any installment of interest on a Security of a particular series, means the date specified in such Security or
in a Board Resolution or in an indenture supplemental hereto with respect to such series as the fixed date on which an installment
of interest with respect to Securities of that series is due and payable.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;Officer&rsquo;s Certificate&rdquo; means
a certificate signed by two of the following officers: the President, any Senior Vice President, any Executive Vice President,
any Vice President, the Treasurer, any Assistant Treasurer, the Secretary or any Assistant Secretary of the Company that is delivered
to the Trustee in accordance with the terms hereof. Each such certificate shall include the statements provided for in Section
13.07, if and to the extent required by the provisions thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;Opinion of Counsel&rdquo; means an opinion
in writing of legal counsel, who may be an employee of or counsel for the Company, if any, that is delivered to the Trustee in
accordance with the terms hereof. Each such opinion shall include the statements provided for in Section 13.07, if and to the extent
required by the provisions thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;Outstanding&rdquo;, when used with reference
to Securities of any series, means, subject to the provisions of Section 8.04, as of any particular time, all Securities of that
series theretofore authenticated and delivered by the Trustee under this Indenture, except (a)&nbsp;Securities theretofore canceled
by the Trustee or any paying agent, or delivered to the Trustee or any paying agent for cancellation or that have previously been
canceled; (b)&nbsp;Securities or portions thereof for the payment or redemption of which moneys or Governmental Obligations in
the necessary amount shall have been deposited in trust with the Trustee or with any paying agent (other than the Company) or shall
have been set aside and segregated in trust by the Company (if the Company shall act as its own paying agent); provided, however,
that if such Securities or portions of such Securities are to be redeemed prior to the maturity thereof, notice of such redemption
shall have been given as in Article Three provided, or provision satisfactory to the Trustee shall have been made for giving such
notice; and (c)&nbsp;Securities in lieu of or in substitution for which other Securities shall have been authenticated and delivered
pursuant to the terms of Section 2.07.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;Person&rdquo; means any individual, corporation,
partnership, joint-venture, joint-stock company, limited liability company, association, trust, unincorporated organization, any
other entity or organization, including a government or political subdivision or an agency or instrumentality thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;Predecessor Security&rdquo; of any particular
Security means every previous Security evidencing all or a portion of the same debt as that evidenced by such particular Security;
and, for the purposes of this definition, any Security authenticated and delivered under Section 2.07 in lieu of a lost, destroyed
or stolen Security shall be deemed to evidence the same debt as the lost, destroyed or stolen Security.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;Responsible Officer&rdquo; when used
with respect to the Trustee means the chairman of its board of directors, the chief executive officer, the president, any vice
president or assistant vice president, the secretary or any assistant secretary, the treasurer, any trust officer or financial
services officer, any corporate trust officer or any other officer or assistant officer of the Trustee customarily performing functions
similar to those performed by the Persons who at the time shall be such officers, respectively, or to whom any corporate trust
matter is referred because of his or her knowledge of and familiarity with the particular subject.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;Securities&rdquo; means the debt Securities
authenticated and delivered under this Indenture.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;Securities Act&rdquo; means the Securities
Act of 1933, as amended, and the rules and regulations promulgated thereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;Securityholder&rdquo;, &ldquo;holder
of Securities&rdquo;, &ldquo;registered holder&rdquo;, or other similar term, means the Person or Persons in whose name or names
a particular Security shall be registered on the books of the Company kept for that purpose in accordance with the terms of this
Indenture.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;Security Register&rdquo; and &ldquo;Security
Registrar&rdquo; shall have the meanings set forth in Section 2.05.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;Subsidiary&rdquo; means, with respect
to any Person, (i)&nbsp;any corporation at least a majority of whose outstanding Voting Stock shall at the time be owned, directly
or indirectly, by such Person or by one or more of its Subsidiaries or by such Person and one or more of its Subsidiaries, (ii)&nbsp;any
general partnership, joint venture or similar entity, at least a majority of whose outstanding partnership or similar interests
shall at the time be owned by such Person, or by one or more of its Subsidiaries, or by such Person and one or more of its Subsidiaries
and (iii)&nbsp;any limited partnership of which such Person or any of its Subsidiaries is a general partner.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;Trustee&rdquo; means [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], acting not
in its individual capacity but solely as Trustee under the Indenture, and subject to the provisions of Article Seven, shall also
include its successors and assigns, and, if at any time there is more than one Person acting in such capacity hereunder, &ldquo;Trustee&rdquo;
shall mean each such Person. The term &ldquo;Trustee&rdquo; as used with respect to a particular series of the Securities shall
mean the trustee with respect to that series.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;Trust Indenture Act&rdquo; means the
Trust Indenture Act of 1939, as amended.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;Voting Stock&rdquo;, as applied to stock
of any Person, means shares, interests, participations or other equivalents in the equity interest (however designated) in such
Person having ordinary voting power for the election of a majority of the directors (or the equivalent) of such Person, other than
shares, interests, participations or other equivalents having such power only by reason of the occurrence of a contingency.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase">Article
II.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in">ISSUE, DESCRIPTION, TERMS,
EXECUTION</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in">REGISTRATION AND EXCHANGE
OF SECURITIES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 2.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Designation
and Terms of Securities</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
aggregate principal amount of Securities that may be authenticated and delivered under this Indenture is unlimited. The Securities
may be issued in one or more series up to the aggregate principal amount of Securities of that series from time to time authorized
by or pursuant to a Board Resolution or pursuant to one or more indentures supplemental hereto. Prior to the initial issuance of
Securities of any series, there shall be established in or pursuant to a Board Resolution of the Company, and set forth in an Officer&rsquo;s
Certificate, or established in one or more indentures supplemental hereto:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
title of the Security of the series (which shall distinguish the Securities of the series from all other Securities);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
limit upon the aggregate principal amount of the Securities of that series that may be authenticated and delivered under this Indenture
(except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities
of that series);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
date or dates on which the principal of the Securities of the series is payable, any original issue discount that may apply to
the Securities of that series upon their issuance, the principal amount due at maturity, and the place(s) of payment;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">(4)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
rate or rates at which the Securities of the series shall bear interest or the manner of calculation of such rate or rates, if
any;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">(5)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
date or dates from which such interest shall accrue, the Interest Payment Dates on which such interest will be payable or the manner
of determination of such Interest Payment Dates and the record date for the determination of holders to whom interest is payable
on any such Interest Payment Dates;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">(6)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
right, if any, to extend the interest payment periods and the duration of such extension;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">(7)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
period or periods within which, the price or prices at which and the terms and conditions upon which, Securities of the series
may be redeemed, in whole or in part, at the option of the Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">(8)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
obligation, if any, of the Company to redeem or purchase Securities of the series pursuant to any sinking fund, mandatory redemption,
or analogous provisions (including payments made in cash in participation of future sinking fund obligations) or at the option
of a holder thereof and the period or periods within which, the price or prices at which, and the terms and conditions upon which,
Securities of the series shall be redeemed or purchased, in whole or in part, pursuant to such obligation;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">(9)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
subordination terms of the Securities of the series;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">(10)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
form of the Securities of the series including the form of the Certificate of Authentication for such series;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">(11)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;if
other than denominations of one thousand U.S. dollars ($1,000) or any integral multiple thereof, the denominations in which the
Securities of the series shall be issuable;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">(12)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
and all other terms (including terms, to the extent applicable, relating to any auction or remarketing of the Securities of that
series and any security for the obligations of the Company with respect to such Securities) with respect to such series (which
terms shall not be inconsistent with the terms of this Indenture, as amended by any supplemental indenture) including any terms
which may be required by or advisable under United States laws or regulations or advisable in connection with the marketing of
Securities of that series;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">(13)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;whether
the Securities are issuable as a Global Security and, in such case, the identity for the Depositary for such series;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">(14)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;whether
the Securities will be convertible into or exchangeable for shares of common stock, preferred stock or other securities of the
Company or any other Person and, if so, the terms and conditions upon which such Securities will be so convertible or exchangeable,
including the conversion or exchange price, as applicable, or how it will be calculated and may be adjusted, any mandatory or optional
(at the Company&rsquo;s option or the holders&rsquo; option) conversion or exchange features, and the applicable conversion or
exchange period;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">(15)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;if
other than the principal amount thereof, the portion of the principal amount of Securities of the series which shall be payable
upon declaration of acceleration of the maturity thereof pursuant to Section 6.01;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">(16)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
additional or different Events of Default or restrictive covenants (which may include, among other restrictions, restrictions on
the Company&rsquo;s ability or the ability of the Company&rsquo;s Subsidiaries to: incur additional indebtedness; issue additional
securities; create liens; pay dividends or make distributions in respect of the capital stock of the Company or the Company&rsquo;s
Subsidiaries; redeem capital stock; place restrictions on the Company&rsquo;s Subsidiaries&rsquo; ability to pay dividends, make
distributions or transfer assets; make investments or other restricted payments; sell or otherwise dispose of assets; enter into
sale-leaseback transactions; engage in transactions with stockholders or affiliates; issue or sell stock of the Company&rsquo;s
Subsidiaries; or effect a consolidation or merger) or financial covenants (which may include, among other financial covenants,
financial covenants that require the Company and its Subsidiaries to maintain specified interest coverage, fixed charge, leverage,
cash flow-based, asset-based or other financial ratios) provided for with respect to the Securities of the series;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">(17)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;if
other than dollars, the coin or currency in which the Securities of the series are denominated (including, but not limited to,
foreign currency);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">(18)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
terms and conditions, if any, upon which the Company shall pay amounts in addition to the stated interest, premium, if any and
principal amounts of the Securities of the series to any Securityholder that is not a &ldquo;United States person&rdquo; for federal
tax purposes;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">(19)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;if
applicable, the terms of any mortgage, pledge or security that will be provided for a series of Securities, including any provisions
regarding the circumstances under which collateral may be released or substituted;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">(20)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;if
applicable, the terms of any guaranties for the Securities and any circumstances under which there may be additional obligors on
the Securities; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">(21)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
restrictions on transfer, sale or assignment of the Securities of the series.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">All Securities of any one series shall be substantially
identical except as to denomination and except as may otherwise be provided in or pursuant to any such Board Resolution or in any
indentures supplemental hereto.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">If any of the terms of the series are established
by action taken pursuant to a Board Resolution of the Company, a copy of an appropriate record of such action shall be certified
by the secretary or an assistant secretary of the Company and delivered to the Trustee at or prior to the delivery of the Officer&rsquo;s
Certificate of the Company setting forth the terms of the series.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Securities of any particular series may be issued
at various times, with different dates on which the principal or any installment of principal is payable, with different rates
of interest, if any, or different methods by which rates of interest may be determined, with different dates on which such interest
may be payable and with different redemption dates. Unless otherwise provided, a series may be reopened for issuances of additional
Securities of such series.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 2.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Form
of Securities and Trustee&rsquo;s Certificate</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Securities of any series and the Trustee&rsquo;s
certificate of authentication to be borne by such Securities shall be substantially of the tenor and purport as set forth in one
or more indentures supplemental hereto or as provided in a Board Resolution of the Company and as set forth in an Officer&rsquo;s
Certificate of the Company and may have such letters, numbers or other marks of identification or designation and such legends
or endorsements printed, lithographed or engraved thereon as the Company may deem appropriate and as are not inconsistent with
the provisions of this Indenture, or as may be required to comply with any law or with any rule or regulation made pursuant thereto
or with any rule or regulation of any stock exchange on which Securities of that series may be listed, or to conform to usage.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 2.03&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Denominations;
Provisions for Payment</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Securities shall be issuable as registered
Securities and in the denominations of one thousand U.S. dollars ($1,000) or any integral multiple thereof, subject to Section
2.01(a)(10). The Securities of a particular series shall bear interest payable on the dates and at the rate specified with respect
to that series. Subject to Section 2.01(a)(16), the principal of and the interest on the Securities of any series, as well as any
premium thereon in case of redemption thereof prior to maturity, shall be payable in the coin or currency of the United States
of America that at the time is legal tender for public and private debt, at the office or agency of the Company maintained for
that purpose. Each Security shall be dated the date of its authentication. Interest on the Securities shall be computed on the
basis of a 360-day year composed of twelve 30-day months.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The interest installment on any Security that
is payable, and is punctually paid or duly provided for, on any Interest Payment Date for Securities of that series shall be paid
to the Person in whose name said Security (or one or more Predecessor Securities) is registered at the close of business on the
regular record date for such interest installment. In the event that any Security of a particular series or portion thereof is
called for redemption and the redemption date is subsequent to a regular record date with respect to any Interest Payment Date
and prior to such Interest Payment Date, interest on such Security will be paid upon presentation and surrender of such Security
as provided in Section 3.03.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Any interest on any Security that is payable,
but is not punctually paid or duly provided for, on any Interest Payment Date for Securities of the same series (herein called
&ldquo;Defaulted Interest&rdquo;) shall forthwith cease to be payable to the registered holder on the relevant regular record date
by virtue of having been such holder; and such Defaulted Interest shall be paid by the Company, at its election, as provided in
clause (1)&nbsp;or clause (2)&nbsp;below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company may make payment of any Defaulted Interest on Securities to the Persons in whose names such Securities (or their respective
Predecessor Securities) are registered at the close of business on a special record date for the payment of such Defaulted Interest,
which shall be fixed in the following manner: the Company shall notify the Trustee in writing of the amount of Defaulted Interest
proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit
with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or
shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when
deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon
the Trustee shall fix a special record date for the payment of such Defaulted Interest which shall not be more than 15 nor less
than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice
of the proposed payment. The Trustee shall promptly notify the Company of such special record date and, in the name and at the
expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the special record date therefor
to be mailed, first class postage prepaid, to each Securityholder at his or her address as it appears in the Security Register
(as hereinafter defined), not less than 10 days prior to such special record date. Notice of the proposed payment of such Defaulted
Interest and the special record date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons
in whose names such Securities (or their respective Predecessor Securities) are registered on such special record date and shall
be no longer payable pursuant to the following clause (2).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company may make payment of any Defaulted Interest on any Securities in any other lawful manner not inconsistent with the requirements
of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if,
after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall
be deemed practicable by the Trustee.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Unless otherwise set forth in a Board Resolution
or one or more indentures supplemental hereto establishing the terms of any series of Securities pursuant to Section 2.01 hereof,
the term &ldquo;regular record date&rdquo; as used in this Section with respect to a series of Securities with respect to any Interest
Payment Date for such series shall mean either the fifteenth day of the month immediately preceding the month in which an Interest
Payment Date established for such series pursuant to Section 2.01 hereof shall occur, if such Interest Payment Date is the first
day of a month, or the last day of the month immediately preceding the month in which an Interest Payment Date established for
such series pursuant to Section 2.01 hereof shall occur, if such Interest Payment Date is the fifteenth day of a month, whether
or not such date is a Business Day.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Subject to the foregoing provisions of this
Section, each Security of a series delivered under this Indenture upon transfer of or in exchange for or in lieu of any other Security
of such series shall carry the rights to interest accrued and unpaid, and to accrue, that were carried by such other Security.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 2.04&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Execution
and Authentications</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Securities shall be signed on behalf of
the Company by two of its officers, under its corporate seal attested by its secretary or one of its assistant secretaries. Signatures
may be in the form of a manual or facsimile signature. The Company may use the facsimile signature of any Person who shall have
been an officer thereof, notwithstanding the fact that at the time the Securities shall be authenticated and delivered or disposed
of such Person shall have ceased to be such officer of the Company. The seal of the Company may be in the form of a facsimile of
such seal and may be impressed, affixed, imprinted or otherwise reproduced on the Securities. The Securities may contain such notations,
legends or endorsements required by law, stock exchange rule or usage. Each Security shall be dated the date of its authentication
by the Trustee.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">A Security shall not be valid until authenticated
manually by an authorized signatory of the Trustee, or by an Authenticating Agent. Such signature shall be conclusive evidence
that the Security so authenticated has been duly authenticated and delivered hereunder and that the holder is entitled to the benefits
of this Indenture.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">At any time and from time to time after the
execution and delivery of this Indenture, the Company may deliver Securities of any series executed by the Company to the Trustee
for authentication, together with a written order of the Company for the authentication and delivery of such Securities, signed
by two of its officers and the Trustee shall in accordance with such written order shall authenticate and deliver such Securities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In authenticating such Securities and accepting
the additional responsibilities under this Indenture in relation to such Securities, the Trustee shall be entitled to receive,
and (subject to Section 7.01) shall be fully protected in relying upon, an Opinion of Counsel stating that the form and terms thereof
have been established in conformity with the provisions of this Indenture.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Trustee shall not be required to authenticate
such Securities if the issue of such Securities pursuant to this Indenture will affect the Trustee&rsquo;s own rights, duties or
immunities under the Securities and this Indenture or otherwise in a manner that is not reasonably acceptable to the Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 2.05&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Registration
of Transfer and Exchange</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities
of any series may be exchanged upon presentation thereof at the office or agency of the Company designated for such purpose in
the City of [ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], the State of [ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ], for other Securities of such series of authorized denominations, and for a like aggregate principal
amount, upon payment of a sum sufficient to cover any tax or other governmental charge in relation thereto, all as provided in
this Section. In respect of any Securities so surrendered for exchange, the Company shall execute, the Trustee shall authenticate
and such office or agency shall deliver in exchange therefor the Security or Securities of the same series that the Securityholder
making the exchange shall be entitled to receive, bearing numbers not contemporaneously outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company shall keep, or cause to be kept, at its office or agency designated for such purpose in the City of [ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ], the State of [
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], or such other location designated by the Company a register or registers (herein referred to as the &ldquo;Security Register&rdquo;)
in which, subject to such reasonable regulations as it may prescribe, the Company shall register the Securities and the transfers
of Securities as in this Article provided and which at all reasonable times shall be open for inspection by the Trustee. The registrar
for the purpose of registering Securities and transfer of Securities as herein provided shall be appointed as authorized by Board
Resolution (the &ldquo;Security Registrar&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Upon surrender for transfer of any Security
at the office or agency of the Company designated for such purpose, the Company shall execute, the Trustee shall authenticate and
such office or agency shall deliver in the name of the transferee or transferees a new Security or Securities of the same series
as the Security presented for a like aggregate principal amount.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">All Securities presented or surrendered for
exchange or registration of transfer, as provided in this Section, shall be accompanied (if so required by the Company or the Security
Registrar) by a written instrument or instruments of transfer, in form satisfactory to the Company or the Security Registrar, duly
executed by the registered holder or by such holder&rsquo;s duly authorized attorney in writing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
as provided pursuant to Section 2.01 pursuant to a Board Resolution, and set forth in an Officer&rsquo;s Certificate, or established
in one or more indentures supplemental to this Indenture, no service charge shall be made for any exchange or registration of transfer
of Securities, or issue of new Securities in case of partial redemption of any series, but the Company may require payment of a
sum sufficient to cover any tax or other governmental charge in relation thereto, other than exchanges pursuant to Section 2.06,
the second paragraph of Section 3.03 and Section 9.04 not involving any transfer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company shall not be required (i)&nbsp;to issue, exchange or register the transfer of any Securities during a period beginning
at the opening of business 15 days before the day of the mailing of a notice of redemption of less than all the Outstanding Securities
of the same series and ending at the close of business on the day of such mailing, nor (ii)&nbsp;to register the transfer of or
exchange any Securities of any series or portions thereof called for redemption. The provisions of this Section 2.05 are, with
respect to any Global Security, subject to Section 2.11 hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 2.06&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Temporary
Securities</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Pending the preparation of definitive Securities
of any series, the Company may execute, and the Trustee shall authenticate and deliver, temporary Securities (printed, lithographed
or typewritten) of any authorized denomination. Such temporary Securities shall be substantially in the form of the definitive
Securities in lieu of which they are issued, but with such omissions, insertions and variations as may be appropriate for temporary
Securities, all as may be determined by the Company. Every temporary Security of any series shall be executed by the Company and
be authenticated by the Trustee upon the same conditions and in substantially the same manner, and with like effect, as the definitive
Securities of such series. Without unnecessary delay the Company will execute and will furnish definitive Securities of such series
and thereupon any or all temporary Securities of such series may be surrendered in exchange therefor (without charge to the holders),
at the office or agency of the Company designated for the purpose in the City of [  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], the State of [ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ], and the Trustee shall authenticate
and such office or agency shall deliver in exchange for such temporary Securities an equal aggregate principal amount of definitive
Securities of such series, unless the Company advises the Trustee to the effect that definitive Securities need not be executed
and furnished until further notice from the Company. Until so exchanged, the temporary Securities of such series shall be entitled
to the same benefits under this Indenture as definitive Securities of such series authenticated and delivered hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 2.07&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Mutilated,
Destroyed, Lost or Stolen Securities</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In case any temporary or definitive Security
shall become mutilated or be destroyed, lost or stolen, the Company (subject to the next succeeding sentence) shall execute, and
upon the Company&rsquo;s request the Trustee (subject as aforesaid) shall authenticate and deliver, a new Security of the same
series, bearing a number not contemporaneously outstanding, in exchange and substitution for the mutilated Security, or in lieu
of and in substitution for the Security so destroyed, lost or stolen. In every case the applicant for a substituted Security shall
furnish to the Company and the Trustee such security or indemnity as may be required by them to save each of them harmless, and,
in every case of destruction, loss or theft, the applicant shall also furnish to the Company and the Trustee evidence to their
satisfaction of the destruction, loss or theft of the applicant&rsquo;s Security and of the ownership thereof. The Trustee may
authenticate any such substituted Security and deliver the same upon the written request or authorization of any officer of the
Company. Upon the issuance of any substituted Security, the Company may require the payment of a sum sufficient to cover any tax
or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of
the Trustee) in connection therewith. In case any Security that has matured or is about to mature shall become mutilated or be
destroyed, lost or stolen, the Company may, instead of issuing a substitute Security, pay or authorize the payment of the same
(without surrender thereof except in the case of a mutilated Security) if the applicant for such payment shall furnish to the Company
and the Trustee such security or indemnity as they may require to save them harmless, and, in case of destruction, loss or theft,
evidence to the satisfaction of the Company and the Trustee of the destruction, loss or theft of such Security and of the ownership
thereof.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Every replacement Security issued pursuant to
the provisions of this Section shall constitute an additional contractual obligation of the Company whether or not the mutilated,
destroyed, lost or stolen Security shall be found at any time, or be enforceable by anyone, and shall be entitled to all the benefits
of this Indenture equally and proportionately with any and all other Securities of the same series duly issued hereunder. All Securities
shall be held and owned upon the express condition that the foregoing provisions are exclusive with respect to the replacement
or payment of mutilated, destroyed, lost or stolen Securities, and shall preclude (to the extent lawful) any and all other rights
or remedies, notwithstanding any law or statute existing or hereafter enacted to the contrary with respect to the replacement or
payment of negotiable instruments or other securities without their surrender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 2.08&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Cancellation</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">All Securities surrendered for the purpose of
payment, redemption, exchange or registration of transfer shall, if surrendered to the Company or any paying agent, be delivered
to the Trustee for cancellation, or, if surrendered to the Trustee, shall be cancelled by it, and no Securities shall be issued
in lieu thereof except as expressly required or permitted by any of the provisions of this Indenture. On request of the Company
at the time of such surrender, the Trustee shall deliver to the Company canceled Securities held by the Trustee. In the absence
of such request the Trustee may dispose of canceled Securities in accordance with its standard procedures and deliver a certificate
of disposition to the Company. If the Company shall otherwise acquire any of the Securities, however, such acquisition shall not
operate as a redemption or satisfaction of the indebtedness represented by such Securities unless and until the same are delivered
to the Trustee for cancellation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 2.09&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Benefits
of Indenture</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Nothing in this Indenture or in the Securities,
express or implied, shall give or be construed to give to any Person, other than the parties hereto and the holders of the Securities
(and, with respect to the provisions of Article Fourteen, the holders of Senior Indebtedness) any legal or equitable right, remedy
or claim under or in respect of this Indenture, or under any covenant, condition or provision herein contained; all such covenants,
conditions and provisions being for the sole benefit of the parties hereto and of the holders of the Securities (and, with respect
to the provisions of Article Fourteen, the holders of Senior Indebtedness).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 2.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Authenticating
Agent</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">So long as any of the Securities of any series
remain Outstanding, there may be an Authenticating Agent for any or all such series of Securities, which the Trustee shall have
the right to appoint. Said Authenticating Agent shall be authorized to act on behalf of the Trustee to authenticate Securities
of such series issued upon exchange, transfer or partial redemption thereof, and Securities so authenticated shall be entitled
to the benefits of this Indenture and shall be valid and obligatory for all purposes as if authenticated by the Trustee hereunder.
All references in this Indenture to the authentication of Securities by the Trustee shall be deemed to include authentication by
an Authenticating Agent for such series. Each Authenticating Agent shall be acceptable to the Company and shall be a corporation
that has a combined capital and surplus, as most recently reported or determined by it, sufficient under the laws of any jurisdiction
under which it is organized or in which it is doing business to conduct a trust business, and that is otherwise authorized under
such laws to conduct such business and is subject to supervision or examination by Federal or State authorities. If at any time
any Authenticating Agent shall cease to be eligible in accordance with these provisions, it shall resign immediately.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Any Authenticating Agent may at any time resign
by giving written notice of resignation to the Trustee and to the Company. The Trustee may at any time (and upon request by the
Company shall) terminate the agency of any Authenticating Agent by giving written notice of termination to such Authenticating
Agent and to the Company. Upon resignation, termination or cessation of eligibility of any Authenticating Agent, the Trustee may
appoint an eligible successor Authenticating Agent acceptable to the Company. Any successor Authenticating Agent, upon acceptance
of its appointment hereunder, shall become vested with all the rights, powers and duties of its predecessor hereunder as if originally
named as an Authenticating Agent pursuant hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 2.11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Global
Securities</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
the Company shall establish pursuant to Section 2.01 that the Securities of a particular series are to be issued as a Global Security,
then the Company shall execute and the Trustee shall, in accordance with Section 2.04, authenticate and deliver, a Global Security
that (i)&nbsp;shall represent, and shall be denominated in an amount equal to the aggregate principal amount of, all of the Outstanding
Securities of such series, (ii)&nbsp;shall be registered in the name of the Depositary or its nominee, (iii)&nbsp;shall be delivered
by the Trustee to the Depositary or pursuant to the Depositary&rsquo;s instruction and (iv)&nbsp;shall bear a legend substantially
to the following effect: &ldquo;Except as otherwise provided in Section 2.11 of the Indenture, this Security may be transferred,
in whole but not in part, only to another nominee of the Depositary or to a successor Depositary or to a nominee of such successor
Depositary.&rdquo; Notwithstanding any other provision of this Indenture or any supplement hereto, so long as a series of Securities
is a Global Security, the parties hereto will be bound at all times by the applicable procedures of the Depositary with respect
to such series.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
the provisions of Section 2.05, the Global Security of a series may be transferred, in whole but not in part and in the manner
provided in Section 2.05, only to another nominee of the Depositary for such series, or to a successor Depositary for such series
selected or approved by the Company or to a nominee of such successor Depositary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
at any time the Depositary for a series of the Securities notifies the Company that it is unwilling or unable to continue as Depositary
for such series or if at any time the Depositary for such series shall no longer be registered or in good standing under the Exchange
Act, or other applicable statute or regulation, and a successor Depositary for such series is not appointed by the Company within
90 days after the Company receives such notice or becomes aware of such condition, as the case may be, this Section 2.11 shall
no longer be applicable to the Securities of such series and the Company will execute, and subject to Section 2.04, the Trustee
will authenticate and deliver the Securities of such series in definitive registered form without coupons, in authorized denominations,
and in an aggregate principal amount equal to the principal amount of the Global Security of such series in exchange for such Global
Security. In addition, the Company may at any time determine that the Securities of any series shall no longer be represented by
a Global Security and that the provisions of this Section 2.11 shall no longer apply to the Securities of such series. In such
event the Company will execute and subject to Section 2.04, the Trustee, upon receipt of an Officer&rsquo;s Certificate evidencing
such determination by the Company, will authenticate and deliver the Securities of such series in definitive registered form without
coupons, in authorized denominations, and in an aggregate principal amount equal to the principal amount of the Global Security
of such series in exchange for such Global Security. Upon the exchange of the Global Security for such Securities in definitive
registered form without coupons, in authorized denominations, the Global Security shall be canceled by the Trustee. Such Securities
in definitive registered form issued in exchange for the Global Security pursuant to this Section 2.11(c)&nbsp;shall be registered
in such names and in such authorized denominations as the Depositary, pursuant to instructions from its direct or indirect participants
or otherwise, shall instruct the Trustee. The Trustee shall deliver such Securities to the Depositary for delivery to the Persons
in whose names such Securities are so registered.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase">Article
III.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in">REDEMPTION OF SECURITIES
AND</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in">SINKING FUND PROVISIONS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 3.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Redemption</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Company may redeem the Securities of any
series issued hereunder on and after the dates and in accordance with the terms established for such series pursuant to Section
2.01 hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 3.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Notice
of Redemption</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
case the Company shall desire to exercise such right to redeem all or, as the case may be, a portion of the Securities of any series
in accordance with the right reserved so to do, the Company shall, or shall cause the Trustee to, give notice of such redemption
to holders of the Securities of such series to be redeemed by mailing, first class postage prepaid, a notice of such redemption
not less than 30 days and not more than 90 days before the date fixed for redemption of that series to such holders at their last
addresses as they shall appear upon the Security Register unless a shorter period is specified in the Securities to be redeemed.
Any notice that is mailed in the manner herein provided shall be conclusively presumed to have been duly given, whether or not
the registered holder receives the notice. In any case, failure duly to give such notice to the holder of any Security of any series
designated for redemption in whole or in part, or any defect in the notice, shall not affect the validity of the proceedings for
the redemption of any other Securities of such series or any other series. In the case of any redemption of Securities prior to
the expiration of any restriction on such redemption provided in the terms of such Securities or elsewhere in this Indenture, the
Company shall furnish the Trustee with an Officer&rsquo;s Certificate evidencing compliance with any such restriction.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Each such notice of redemption shall specify
the date fixed for redemption and the redemption price at which Securities of that series are to be redeemed, and shall state that
payment of the redemption price of such Securities to be redeemed will be made at the office or agency of the Company in the City
of [  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], the State of [ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ], upon presentation and surrender of such Securities, that interest accrued to the date fixed for redemption
will be paid as specified in said notice, that from and after said date interest will cease to accrue and that the redemption is
for a sinking fund, if such is the case. If less than all the Securities of a series are to be redeemed, the notice to the holders
of Securities of that series to be redeemed shall specify the particular Securities to be so redeemed. In case any Security is
to be redeemed in part only, the notice that relates to such Security shall state the portion of the principal amount thereof to
be redeemed, and shall state that on and after the redemption date, upon surrender of such Security, a new Security or Securities
of such series in principal amount equal to the unredeemed portion thereof will be issued.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
less than all the Securities of a series are to be redeemed, the Company shall give the Trustee at least 35 days&rsquo; notice
(unless a shorter notice shall be satisfactory to the Trustee) in advance of the date fixed for redemption as to the aggregate
principal amount of Securities of the series to be redeemed, and thereupon the Trustee shall select, by lot or in such other manner
as it shall deem appropriate and fair in its discretion and that may provide for the selection of a portion or portions (equal
to one thousand U.S. dollars ($1,000) or any integral multiple thereof) of the principal amount of such Securities of a denomination
larger than $1,000, the Securities to be redeemed and shall thereafter promptly notify the Company in writing of the numbers of
the Securities to be redeemed, in whole or in part. The Company may, if and whenever it shall so elect, by delivery of instructions
signed on its behalf by an Officer, instruct the Trustee or any paying agent to call all or any part of the Securities of a particular
series for redemption and to give notice of redemption in the manner set forth in this Section, such notice to be in the name of
the Company or its own name as the Trustee or such paying agent may deem advisable. In any case in which notice of redemption is
to be given by the Trustee or any such paying agent, the Company shall deliver or cause to be delivered to, or permit to remain
with, the Trustee or such paying agent, as the case may be, such Security Register, transfer books or other records, or suitable
copies or extracts therefrom, sufficient to enable the Trustee or such paying agent to give any notice by mail that may be required
under the provisions of this Section.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 3.03&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Payment
Upon Redemption</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
the giving of notice of redemption shall have been completed as above provided, the Securities or portions of Securities of the
series to be redeemed specified in such notice shall become due and payable on the date and at the place stated in such notice
at the applicable redemption price, together with interest accrued to the date fixed for redemption and interest on such Securities
or portions of Securities shall cease to accrue on and after the date fixed for redemption, unless the Company shall default in
the payment of such redemption price and accrued interest with respect to any such Security or portion thereof. On presentation
and surrender of such Securities on or after the date fixed for redemption at the place of payment specified in the notice, said
Securities shall be paid and redeemed at the applicable redemption price for such series, together with interest accrued thereon
to the date fixed for redemption (but if the date fixed for redemption is an interest payment date, the interest installment payable
on such date shall be payable to the registered holder at the close of business on the applicable record date pursuant to Section
2.03).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon
presentation of any Security of such series that is to be redeemed in part only, the Company shall execute and the Trustee shall
authenticate and the office or agency where the Security is presented shall deliver to the holder thereof, at the expense of the
Company, a new Security of the same series of authorized denominations in principal amount equal to the unredeemed portion of the
Security so presented.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 3.04&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Sinking
Fund</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The provisions of Sections 3.04, 3.05 and 3.06
shall be applicable to any sinking fund for the retirement of Securities of a series, except as otherwise specified as contemplated
by Section 2.01 for Securities of such series.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The minimum amount of any sinking fund payment
provided for by the terms of Securities of any series is herein referred to as a &ldquo;mandatory sinking fund payment,&rdquo;
and any payment in excess of such minimum amount provided for by the terms of Securities of any series is herein referred to as
an &ldquo;optional sinking fund payment&rdquo;. If provided for by the terms of Securities of any series, the cash amount of any
sinking fund payment may be subject to reduction as provided in Section 3.05. Each sinking fund payment shall be applied to the
redemption of Securities of any series as provided for by the terms of Securities of such series.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 3.05&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Satisfaction
of Sinking Fund Payments with Securities</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Company (i)&nbsp;may deliver Outstanding
Securities of a series (other than any Securities previously called for redemption) and (ii)&nbsp;may apply as a credit Securities
of a series that have been redeemed either at the election of the Company pursuant to the terms of such Securities or through the
application of permitted optional sinking fund payments pursuant to the terms of such Securities, in each case in satisfaction
of all or any part of any sinking fund payment with respect to the Securities of such series required to be made pursuant to the
terms of such Securities as provided for by the terms of such series, provided that such Securities have not been previously so
credited. Such Securities shall be received and credited for such purpose by the Trustee at the redemption price specified in such
Securities for redemption through operation of the sinking fund and the amount of such sinking fund payment shall be reduced accordingly.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 3.06&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Redemption
of Securities for Sinking Fund</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Not less than 35 days prior to each sinking
fund payment date for any series of Securities (unless a shorter period shall be satisfactory to the Trustee), the Company will
deliver to the Trustee an Officer&rsquo;s Certificate specifying the amount of the next ensuing sinking fund payment for that series
pursuant to the terms of the series, the portion thereof, if any, that is to be satisfied by delivering and crediting Securities
of that series pursuant to Section 3.05 and the basis for such credit and will, together with such Officer&rsquo;s Certificate,
deliver to the Trustee any Securities to be so delivered. Not less than 30 days before each such sinking fund payment date the
Trustee shall select the Securities to be redeemed upon such sinking fund payment date in the manner specified in Section 3.02
and cause notice of the redemption thereof to be given in the name of and at the expense of the Company in the manner provided
in Section 3.02. Such notice having been duly given, the redemption of such Securities shall be made upon the terms and in the
manner stated in Section 3.03.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase">Article
IV.</FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 4.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Payment
of Principal, Premium and Interest</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Company will duly and punctually pay or
cause to be paid the principal of (and premium, if any) and interest on the Securities of that series at the time and place and
in the manner provided herein and established with respect to such Securities. Payments of principal on the Securities may be made
at the time provided herein and established with respect to such Securities by U.S. dollar check drawn on and mailed to the address
of the Securityholder entitled thereto as such address shall appear in the Security Register, or U.S. dollar wire transfer to,
a U.S. dollar account (such wire transfer to be made only to a Securityholder of an aggregate principal amount of Securities of
the applicable series in excess of U.S. $2,000,000 and only if such Securityholder shall have furnished wire instructions to the
Trustee no later than 15 days prior to the relevant payment date). Payments of interest on the Securities may be made at the time
provided herein and established with respect to such Securities by U.S. dollar check mailed to the address of the Securityholder
entitled thereto as such address shall appear in the Security Register, or U.S. dollar wire transfer to, a U.S. dollar account
(such a wire transfer to be made only to a Securityholder of an aggregate principal amount of Securities of the applicable series
in excess of U.S. $2,000,000 and only if such Securityholder shall have furnished wire instructions in writing to the Security
Registrar and the Trustee no later than 15 days prior to the relevant payment date).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 4.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Maintenance
of Office or Agency</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">So long as any series of the Securities
remain Outstanding, the Company agrees to maintain an office or agency in the City of [ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ], the State of [ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ], with respect to
each such series and at such other location or locations as may be designated as provided in this Section 4.02, where
(i)&nbsp;Securities of that series may be presented for payment, (ii)&nbsp;Securities of that series may be presented as
hereinabove authorized for registration of transfer and exchange, and (iii)&nbsp;notices and demands to or upon the Company
in respect of the Securities of that series and this Indenture may be given or served, such designation to continue with
respect to such office or agency until the Company shall, by written notice signed by any officer authorized to sign an
Officer&rsquo;s Certificate and delivered to the Trustee, designate some other office or agency for such purposes or any of
them. If at any time the Company shall fail to maintain any such required office or agency or shall fail to furnish the
Trustee with the address thereof, such presentations, notices and demands may be made or served at the Corporate Trust Office
of the Trustee, and the Company hereby appoints the Trustee as its agent to receive all such presentations, notices and
demands.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 4.03&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Paying
Agents</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
the Company shall appoint one or more paying agents for all or any series of the Securities, other than the Trustee, the Company
will cause each such paying agent to execute and deliver to the Trustee an instrument in which such agent shall agree with the
Trustee, subject to the provisions of this Section:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;that
it will hold all sums held by it as such agent for the payment of the principal of (and premium, if any) or interest on the Securities
of that series (whether such sums have been paid to it by the Company or by any other obligor of such Securities) in trust for
the benefit of the Persons entitled thereto;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;that
it will give the Trustee notice of any failure by the Company (or by any other obligor of such Securities) to make any payment
of the principal of (and premium, if any) or interest on the Securities of that series when the same shall be due and payable;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;that
it will, at any time during the continuance of any failure referred to in the preceding paragraph (a)(2)&nbsp;above, upon the written
request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such paying agent; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">(4)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;that
it will perform all other duties of paying agent as set forth in this Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
the Company shall act as its own paying agent with respect to any series of the Securities, it will on or before each due date
of the principal of (and premium, if any) or interest on Securities of that series, set aside, segregate and hold in trust for
the benefit of the Persons entitled thereto a sum sufficient to pay such principal (and premium, if any) or interest so becoming
due on Securities of that series until such sums shall be paid to such Persons or otherwise disposed of as herein provided and
will promptly notify the Trustee of such action, or any failure (by it or any other obligor on such Securities) to take such action.
Whenever the Company shall have one or more paying agents for any series of Securities, it will, prior to each due date of the
principal of (and premium, if any) or interest on any Securities of that series, deposit with the paying agent a sum sufficient
to pay the principal (and premium, if any) or interest so becoming due, such sum to be held in trust for the benefit of the Persons
entitled to such principal, premium or interest, and (unless such paying agent is the Trustee) the Company will promptly notify
the Trustee of this action or failure so to act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
anything in this Section to the contrary, (i)&nbsp;the agreement to hold sums in trust as provided in this Section is subject to
the provisions of Section 11.05, and (ii)&nbsp;the Company may at any time, for the purpose of obtaining the satisfaction and discharge
of this Indenture or for any other purpose, pay, or direct any paying agent to pay, to the Trustee all sums held in trust by the
Company or such paying agent, such sums to be held by the Trustee upon the same terms and conditions as those upon which such sums
were held by the Company or such paying agent; and, upon such payment by the Company or any paying agent to the Trustee, the Company
or such paying agent shall be released from all further liability with respect to such money.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 4.04&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Appointment
to Fill Vacancy in Office of Trustee</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Company, whenever necessary to avoid or
fill a vacancy in the office of Trustee, will appoint, in the manner provided in Section 7.10, a Trustee, so that there shall at
all times be a Trustee hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 4.05&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Compliance
with Consolidation Provisions</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Company will not, while any of the Securities
remain Outstanding, consolidate with or merge into any other Person, in either case where the Company is not the survivor of such
transaction, or sell or convey all or substantially all of its property to any other Person unless the provisions of Article Ten
hereof are complied with.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase">Article
V.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in">SECURITYHOLDERS&rsquo;
LISTS AND REPORTS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in">BY THE COMPANY AND THE
TRUSTEE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 5.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Company
to Furnish Trustee Names and Addresses of Securityholders</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Company will furnish or cause to be furnished
to the Trustee (a)&nbsp;on a monthly basis on each regular record date (as defined in Section 2.03) a list, in such form as the
Trustee may reasonably require, of the names and addresses of the holders of each series of Securities as of such regular record
date, provided that the Company shall not be obligated to furnish or cause to furnish such list at any time that the list shall
not differ in any respect from the most recent list furnished to the Trustee by the Company and (b)&nbsp;at such other times as
the Trustee may request in writing within 30 days after the receipt by the Company of any such request, a list of similar form
and content as of a date not more than 15 days prior to the time such list is furnished; provided, however, that, in either case,
no such list need be furnished for any series for which the Trustee shall be the Security Registrar.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 5.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Preservation
of Information; Communications with Securityholders</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Trustee shall preserve, in as current a form as is reasonably practicable, all information as to the names and addresses of the
holders of Securities contained in the most recent list furnished to it as provided in Section 5.01 and as to the names and addresses
of holders of Securities received by the Trustee in its capacity as Security Registrar (if acting in such capacity).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Trustee may destroy any list furnished to it as provided in Section 5.01 upon receipt of a new list so furnished.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securityholders
may communicate as provided in Section 312(b)&nbsp;of the Trust Indenture Act with other Securityholders with respect to their
rights under this Indenture or under the Securities, and, in connection with any such communications, the Trustee shall satisfy
its obligations under Section 312(b)&nbsp;of the Trust Indenture Act in accordance with the provisions of Section 312(b)&nbsp;of
the Trust Indenture Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Every
holder of Securities, by receiving and holding the same, agrees with the Company and the Trustee that neither the Company nor the
Trustee nor any agent of either of them shall be held accountable by reason of the disclosure of information as to the names and
address of the Securityholders made pursuant to the Trust Indenture Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 5.03&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Reports
by the Company</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company covenants and agrees to provide (which delivery may be via electronic mail) to the Trustee, after the Company files the
same with the Securities and Exchange Commission, copies of the annual reports and of the information, documents and other reports
(or copies of such portions of any of the foregoing as the Securities and Exchange Commission may from time to time by rules and
regulations prescribe) that the Company files with the Securities and Exchange Commission pursuant to Section 13 or Section 15(d)&nbsp;of
the Exchange Act; or, if the Company is not required to file information, documents or reports pursuant to either of such sections,
then to file with the Trustee, in accordance with the rules and regulations prescribed from time to time by the Securities and
Exchange Commission, such of the supplementary and periodic information, documents and reports that may be required pursuant to
Section 13 of the Exchange Act, in respect of a security listed and registered on a national securities exchange as may be prescribed
from time to time in such rules and regulations; provided, however, the Company shall not be required to deliver to the Trustee
any materials for which the Company has sought and received confidential treatment by the Securities and Exchange Commission; and
provided further, so long as such filings by the Company are available on the Securities and Exchange Commission&rsquo;s Electronic
Data Gathering, Analysis and Retrieval System (EDGAR) or any successor system thereto, such filings shall be deemed to have been
filed with the Trustee for purposes of this Section 5.03 without any further action required by the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company covenants and agrees to file with the Trustee and the Securities and Exchange Commission, in accordance with the rules
and regulations prescribed from to time by the Securities and Exchange Commission, such additional information, documents and reports
with respect to compliance by the Company with the conditions and covenants provided for in this Indenture as may be required from
time to time by such rules and regulations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company covenants and agrees to transmit by mail, first class postage prepaid, or reputable over-night delivery service that provides
for evidence of receipt, to the Securityholders, as their names and addresses appear upon the Security Register, within 30 days
after the filing thereof with the Trustee, such summaries of any information, documents and reports required to be filed by the
Company pursuant to subsections (a)&nbsp;and (b)&nbsp;of this Section as may be required by rules and regulations prescribed from
time to time by the Securities and Exchange Commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 5.04&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Reports
by the Trustee</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
required by Section 313(a)&nbsp;of the Trust Indenture Act, the Trustee, within sixty&nbsp;(60) days after each May&nbsp;1, shall
transmit by mail, first class postage prepaid, to the Securityholders, as their names and addresses appear upon the Security Register,
a brief report dated as of such May&nbsp;1, which complies with Section 313(a)&nbsp;of the Trust Indenture Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Trustee shall comply with Section 313(b)&nbsp;and 313(c)&nbsp;of the Trust Indenture Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
copy of each such report shall, at the time of such transmission to Securityholders, be filed by the Trustee with the Company,
with each securities exchange upon which any Securities are listed (if so listed) and also with the Securities and Exchange Commission.
The Company agrees to notify the Trustee when any Securities become listed on any securities exchange.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase">Article
VI.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in">REMEDIES OF THE TRUSTEE
AND</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in">SECURITYHOLDERS ON EVENT
OF DEFAULT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 6.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Events
of Default</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Whenever
used herein with respect to Securities of a particular series, &ldquo;Event of Default&rdquo; means any one or more of the following
events that has occurred and is continuing:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Company defaults in the payment of any installment of interest upon any of the Securities of that series, as and when the same
shall become due and payable, and continuance of such default for a period of 30 days; provided, however, that a valid extension
of an interest payment period by the Company in accordance with the terms of any indenture supplemental hereto, shall not constitute
a default in the payment of interest for this purpose;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Company defaults in the payment of the principal of (or premium, if any, on) any of the Securities of that series as and when the
same shall become due and payable whether at maturity, upon redemption, by declaration or otherwise, or in any payment required
by any sinking or analogous fund established with respect to that series; provided, however, that a valid extension of the maturity
of such Securities in accordance with the terms of any indenture supplemental hereto shall not constitute a default in the payment
of principal or premium, if any;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Company fails to observe or perform any other of its covenants or agreements with respect to that series contained in this Indenture
or otherwise established with respect to that series of Securities pursuant to Section 2.01 hereof (other than a covenant or agreement
that has been expressly included in this Indenture solely for the benefit of one or more series of Securities other than such series)
for a period of 60 days after the date on which written notice of such failure, requiring the same to be remedied and stating that
such notice is a &ldquo;Notice of Default&rdquo; hereunder, shall have been given to the Company by the Trustee, by registered
or certified mail, or to the Company and the Trustee by the holders of at least 25% in principal amount of the Securities of that
series at the time Outstanding;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">(4)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Company, pursuant to or within the meaning of any Bankruptcy Law, (i)&nbsp;commences a voluntary case, (ii)&nbsp;consents to the
entry of an order for relief against it in an involuntary case, (iii)&nbsp;consents to the appointment of a Custodian of it or
for all or substantially all of its property or (iv)&nbsp;makes a general assignment for the benefit of its creditors; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">(5)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
court of competent jurisdiction enters an order under any Bankruptcy Law that (i)&nbsp;is for relief against the Company in an
involuntary case, (ii)&nbsp;appoints a Custodian of the Company for all or substantially all of their respective property, or (iii)&nbsp;orders
the liquidation of the Company, and the order or decree remains unstayed and in effect for 90 days.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
each and every such case (other than an Event of Default specified in clause (4)&nbsp;or clause (5)&nbsp;above), unless the principal
of all the Securities of that series shall have already become due and payable, either the Trustee or the holders of not less than
25% in aggregate principal amount of the Securities of that series then Outstanding hereunder, by notice in writing to the Company
(and to the Trustee if given by such Securityholders), may declare the principal of (and premium, if any, on) and accrued and unpaid
interest on all the Securities of that series to be due and payable immediately, and upon any such declaration the same shall become
and shall be immediately due and payable. If an Event of Default specified in clause (4)&nbsp;or clause (5)&nbsp;above occurs,
the principal of and accrued and unpaid interest on all the Securities of that series shall automatically be immediately due and
payable without any declaration or other act on the part of the Trustee or the holders of the Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At
any time after the principal of the Securities of that series shall have been so declared due and payable, and before any judgment
or decree for the payment of the moneys due shall have been obtained or entered as hereinafter provided, the holders of a majority
in aggregate principal amount of the Securities of that series then Outstanding hereunder, by written notice to the Company and
the Trustee, may rescind and annul such declaration and its consequences if: (i)&nbsp;the Company has paid or deposited with the
Trustee a sum sufficient to pay all matured installments of interest upon all the Securities of that series and the principal of
(and premium, if any, on) any and all Securities of that series that shall have become due otherwise than by acceleration (with
interest upon such principal and premium, if any, and, to the extent that such payment is enforceable under applicable law, upon
overdue installments of interest, at the rate per annum expressed in the Securities of that series to the date of such payment
or deposit) and the amount payable to the Trustee under Section 7.06, and (ii)&nbsp;any and all Events of Default under the Indenture
with respect to such series, other than the nonpayment of principal on Securities of that series that shall not have become due
by their terms, shall have been remedied or waived as provided in Section 6.06.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">No such rescission and annulment shall extend
to or shall affect any subsequent default or impair any right consequent thereon.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
case the Trustee shall have proceeded to enforce any right with respect to Securities of that series under this Indenture and such
proceedings shall have been discontinued or abandoned because of such rescission or annulment or for any other reason or shall
have been determined adversely to the Trustee, then and in every such case the Company, and the Trustee shall be restored respectively
to their former positions and rights hereunder, and all rights, remedies and powers of the Company and the Trustee shall continue
as though no such proceedings had been taken.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 6.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Collection
of Indebtedness and Suits for Enforcement by Trustee</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company covenants that (1)&nbsp;in case it shall default in the payment of any installment of interest on any of the Securities
of a series, or any payment required by any sinking or analogous fund established with respect to that series as and when the same
shall have become due and payable, and such default shall have continued for a period of 30 days, or (2)&nbsp;in case it shall
default in the payment of the principal of (or premium, if any, on) any of the Securities of a series when the same shall have
become due and payable, whether upon maturity of the Securities of a series or upon redemption or upon declaration or otherwise,
then, upon demand of the Trustee, the Company will pay to the Trustee, for the benefit of the holders of the Securities of that
series, the whole amount that then shall have been become due and payable on all such Securities for principal (and premium, if
any) or interest, or both, as the case may be, with interest upon the overdue principal (and premium, if any) and (to the extent
that payment of such interest is enforceable under applicable law) upon overdue installments of interest at the rate per annum
expressed in the Securities of that series; and, in addition thereto, such further amount as shall be sufficient to cover the costs
and expenses of collection, and the amount payable to the Trustee under Section 7.06.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
the Company shall fail to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express
trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums
so due and unpaid, and may prosecute any such action or proceeding to judgment or final decree, and may enforce any such judgment
or final decree against the Company or other obligor upon the Securities of that series and collect the moneys adjudged or decreed
to be payable in the manner provided by law out of the property of the Company or other obligor upon the Securities of that series,
wherever situated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
case of any receivership, insolvency, liquidation, bankruptcy, reorganization, readjustment, arrangement, composition or judicial
proceedings affecting the Company, or its creditors or property, the Trustee shall have power to intervene in such proceedings
and take any action therein that may be permitted by the court and shall (except as may be otherwise provided by law) be entitled
to file such proofs of claim and other papers and documents as may be necessary or advisable in order to have the claims of the
Trustee and of the holders of Securities of such series allowed for the entire amount due and payable by the Company under the
Indenture at the date of institution of such proceedings and for any additional amount that may become due and payable by the Company
after such date, and to collect and receive any moneys or other property payable or deliverable on any such claim, and to distribute
the same after the deduction of the amount payable to the Trustee under Section 7.06; and any receiver, assignee or trustee in
bankruptcy or reorganization is hereby authorized by each of the holders of Securities of such series to make such payments to
the Trustee, and, in the event that the Trustee shall consent to the making of such payments directly to such Securityholders,
to pay to the Trustee any amount due it under Section 7.06.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
rights of action and of asserting claims under this Indenture, or under any of the terms established with respect to Securities
of that series, may be enforced by the Trustee without the possession of any of such Securities, or the production thereof at any
trial or other proceeding relative thereto, and any such suit or proceeding instituted by the Trustee shall be brought in its own
name as trustee of an express trust, and any recovery of judgment shall, after provision for payment to the Trustee of any amounts
due under Section 7.06, be for the ratable benefit of the holders of the Securities of such series.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In case of an Event of Default hereunder, the
Trustee may in its discretion proceed to protect and enforce the rights vested in it by this Indenture by such appropriate judicial
proceedings as the Trustee shall deem most effectual to protect and enforce any of such rights, either at law or in equity or in
bankruptcy or otherwise, whether for the specific enforcement of any covenant or agreement contained in the Indenture or in aid
of the exercise of any power granted in this Indenture, or to enforce any other legal or equitable right vested in the Trustee
by this Indenture or by law.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Nothing contained herein shall be deemed to
authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Securityholder any plan of reorganization,
arrangement, adjustment or composition affecting the Securities of that series or the rights of any holder thereof or to authorize
the Trustee to vote in respect of the claim of any Securityholder in any such proceeding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 6.03&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Application
of Moneys Collected</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Any moneys collected by the Trustee pursuant
to this Article with respect to a particular series of Securities shall be applied in the following order, at the date or dates
fixed by the Trustee and, in case of the distribution of such moneys on account of principal (or premium, if any) or interest,
upon presentation of the Securities of that series, and notation thereon the payment, if only partially paid, and upon surrender
thereof if fully paid:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">FIRST: To the payment of costs and expenses
of collection and of all amounts payable to the Trustee under Section 7.06;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">SECOND: To the payment of all Senior Indebtedness
of the Company if and to the extent required by Article Fourteen;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">THIRD: To the payment of the amounts then due
and unpaid upon Securities of such series for principal (and premium, if any) and interest, in respect of which or for the benefit
of which such money has been collected, ratably, without preference or priority of any kind, according to the amounts due and payable
on such Securities for principal (and premium, if any) and interest, respectively; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">FOURTH: To the payment of the remainder, if
any, to the Company or any other Person lawfully entitled thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 6.04&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Limitation
on Suits</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">No holder of any Security of any series shall
have any right by virtue or by availing of any provision of this Indenture to institute any suit, action or proceeding in equity
or at law upon or under or with respect to this Indenture or for the appointment of a receiver or trustee, or for any other remedy
hereunder, unless (i)&nbsp;such holder previously shall have given to the Trustee written notice of an Event of Default and of
the continuance thereof with respect to the Securities of such series specifying such Event of Default, as hereinbefore provided;
(ii)&nbsp;the holders of not less than 25% in aggregate principal amount of the Securities of such series then Outstanding shall
have made written request upon the Trustee to institute such action, suit or proceeding in its own name as trustee hereunder; (iii)&nbsp;such
holder or holders shall have offered to the Trustee such reasonable indemnity as it may require against the costs, expenses and
liabilities to be incurred therein or thereby; and (iv)&nbsp;the Trustee for 60 days after its receipt of such notice, request
and offer of indemnity, shall have failed to institute any such action, suit or proceeding and (v)&nbsp;during such 60 day period,
the holders of a majority in principal amount of the Securities of that series do not give the Trustee a direction inconsistent
with the request.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Notwithstanding anything contained herein to
the contrary, any other provisions of this Indenture, the right of any holder of any Security to receive payment of the principal
of (and premium, if any) and interest on such Security, as therein provided, on or after the respective due dates expressed in
such Security (or in the case of redemption, on the redemption date), or to institute suit for the enforcement of any such payment
on or after such respective dates or redemption date, shall not be impaired or affected without the consent of such holder and
by accepting a Security hereunder it is expressly understood, intended and covenanted by the taker and holder of every Security
of such series with every other such taker and holder and the Trustee, that no one or more holders of Securities of such series
shall have any right in any manner whatsoever by virtue or by availing of any provision of this Indenture to affect, disturb or
prejudice the rights of the holders of any other of such Securities, or to obtain or seek to obtain priority over or preference
to any other such holder, or to enforce any right under this Indenture, except in the manner herein provided and for the equal,
ratable and common benefit of all holders of Securities of such series. For the protection and enforcement of the provisions of
this Section, each and every Securityholder and the Trustee shall be entitled to such relief as can be given either at law or in
equity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 6.05&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Rights
and Remedies Cumulative; Delay or Omission Not Waiver</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
as otherwise provided in Section 2.07, all powers and remedies given by this Article to the Trustee or to the Securityholders shall,
to the extent permitted by law, be deemed cumulative and not exclusive of any other powers and remedies available to the Trustee
or the holders of the Securities, by judicial proceedings or otherwise, to enforce the performance or observance of the covenants
and agreements contained in this Indenture or otherwise established with respect to such Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
delay or omission of the Trustee or of any holder of any of the Securities to exercise any right or power accruing upon any Event
of Default occurring and continuing as aforesaid shall impair any such right or power, or shall be construed to be a waiver of
any such default or on acquiescence therein; and, subject to the provisions of Section 6.04, every power and remedy given by this
Article or by law to the Trustee or the Securityholders may be exercised from time to time, and as often as shall be deemed expedient,
by the Trustee or by the Securityholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 6.06&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Control
by Securityholders</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The holders of a majority in aggregate principal
amount of the Securities of any series at the time Outstanding, determined in accordance with Section 8.04, shall have the right
to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust
or power conferred on the Trustee with respect to such series; provided, however, that such direction shall not be in conflict
with any rule of law or with this Indenture. Subject to the provisions of Section 7.01, the Trustee shall have the right to decline
to follow any such direction if the Trustee in good faith shall, by a Responsible Officer or officers of the Trustee, determine
that the proceeding so directed, subject to the Trustee&rsquo;s duties under the Trust Indenture Act, would involve the Trustee
in personal liability or be unduly prejudicial to the Securityholders not involved in the proceeding. The holders of a majority
in aggregate principal amount of the Securities of any series at the time Outstanding affected thereby, determined in accordance
with Section 8.04, may on behalf of the holders of all of the Securities of such series waive any past default in the performance
of any of the covenants contained herein or established pursuant to Section 2.01 with respect to such series and its consequences,
except a default in the payment of the principal of, or premium, if any, or interest on, any of the Securities of that series as
and when the same shall become due by the terms of such Securities otherwise than by acceleration (unless such default has been
cured and a sum sufficient to pay all matured installments of interest and principal and any premium has been deposited with the
Trustee (in accordance with Section 6.01(c)). Upon any such waiver, the default covered thereby shall be deemed to be cured for
all purposes of this Indenture and the Company, the Trustee and the holders of the Securities of such series shall be restored
to their former positions and rights hereunder, respectively; but no such waiver shall extend to any subsequent or other default
or impair any right consequent thereon.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 6.07&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Undertaking
to Pay Costs</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">All parties to this Indenture agree, and each
holder of any Securities by such holder&rsquo;s acceptance thereof shall be deemed to have agreed, that any court may in its discretion
require, in any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any
action taken or omitted by it as Trustee, the filing by any party litigant in such suit of an undertaking to pay the costs of such
suit, and that such court may in its discretion assess reasonable costs, including reasonable attorneys&rsquo; fees, against any
party litigant in such suit, having due regard to the merits and good faith of the claims or defenses made by such party litigant;
but the provisions of this Section shall not apply to any suit instituted by the Trustee, to any suit instituted by any Securityholder,
or group of Securityholders, holding more than 10% in aggregate principal amount of the Outstanding Securities of any series, or
to any suit instituted by any Securityholder for the enforcement of the payment of the principal of (or premium, if any) or interest
on any Security of such series, on or after the respective due dates expressed in such Security or established pursuant to this
Indenture.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase">Article
VII.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in">CONCERNING THE TRUSTEE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 7.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Certain
Duties and Responsibilities of Trustee</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Trustee, prior to the occurrence of an Event of Default with respect to the Securities of a series and after the curing of all
Events of Default with respect to the Securities of that series that may have occurred, shall undertake to perform with respect
to the Securities of such series such duties and only such duties as are specifically set forth in this Indenture, and no implied
covenants shall be read into this Indenture against the Trustee. In case an Event of Default with respect to the Securities of
a series has occurred (that has not been cured or waived), the Trustee shall exercise with respect to Securities of that series
such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a
prudent man would exercise or use under the circumstances in the conduct of his own affairs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
provision of this Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent
failure to act, or its own willful misconduct, except that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;prior
to the occurrence of an Event of Default with respect to the Securities of a series and after the curing or waiving of all such
Events of Default with respect to that series that may have occurred:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 2in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
duties and obligations of the Trustee shall with respect to the Securities of such series be determined solely by the express provisions
of this Indenture, and the Trustee shall not be liable with respect to the Securities of such series except for the performance
of such duties and obligations as are specifically set forth in this Indenture, and no implied covenants or obligations shall be
read into this Indenture against the Trustee; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 2in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;in
the absence of bad faith on the part of the Trustee, the Trustee may with respect to the Securities of such series conclusively
rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon any certificates or opinions
furnished to the Trustee and conforming to the requirements of this Indenture; but in the case of any such certificates or opinions
that by any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine
the same to determine whether or not they conform to the requirement of this Indenture;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer or Responsible Officers of the
Trustee, unless it shall be proved that the Trustee, was negligent in ascertaining the pertinent facts;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in accordance with the
direction of the holders of not less than a majority in principal amount of the Securities of any series at the time Outstanding
relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any
trust or power conferred upon the Trustee under this Indenture with respect to the Securities of that series; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">(4)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;none
of the provisions contained in this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur personal
financial liability in the performance of any of its duties or in the exercise of any of its rights or powers, if there is reasonable
ground for believing that the repayment of such funds or liability is not reasonably assured to it under the terms of this Indenture
or adequate indemnity against such risk is not reasonably assured to it.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 7.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Certain
Rights of Trustee</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Except as otherwise provided in Section 7.01:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Trustee may rely and shall be protected in acting or refraining from acting upon any resolution, certificate, statement, instrument,
opinion, report, notice, request, consent, order, approval, bond, security or other paper or document reasonably believed by it
to be genuine and to have been signed or presented by the proper party or parties;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
request, direction, order or demand of the Company mentioned herein shall be sufficiently evidenced by a Board Resolution or an
instrument signed in the name of the Company, by two of the following officers: the President, any Senior Vice President, any Executive
Vice President, any Vice President, the Treasurer, any Assistant Treasurer, the Secretary or any Assistant Secretary of the Company
(unless other evidence in respect thereof is specifically prescribed herein);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Trustee may consult with counsel and the written advice of such counsel or any Opinion of Counsel shall be full and complete authorization
and protection in respect of any action taken or suffered or omitted hereunder in good faith and in reliance thereon;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request, order
or direction of any of the Securityholders, pursuant to the provisions of this Indenture, unless such Securityholders shall have
offered to the Trustee reasonable security or indemnity against the costs, expenses and liabilities that may be incurred therein
or thereby; nothing contained herein shall, however, relieve the Trustee of the obligation, upon the occurrence of an Event of
Default with respect to a series of the Securities (that has not been cured or waived) to exercise with respect to Securities of
that series such of the rights and powers vested in it by this Indenture, and to use the same degree of care and skill in their
exercise, as a prudent man would exercise or use under the circumstances in the conduct of his own affairs;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Trustee shall not be liable for any action taken or omitted to be taken by it in good faith and believed by it to be authorized
or within the discretion or rights or powers conferred upon it by this Indenture;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement,
instrument, opinion, report, notice, request, consent, order, approval, bond, security, or other papers or documents, unless requested
in writing so to do by the holders of not less than a majority in principal amount of the Outstanding Securities of the particular
series affected thereby (determined as provided in Section 8.04); provided, however, that if the payment within a reasonable time
to the Trustee of the costs, expenses or liabilities likely to be incurred by it in the making of such investigation is, in the
opinion of the Trustee, not reasonably assured to the Trustee by the security afforded to it by the terms of this Indenture, the
Trustee may require reasonable indemnity against such costs, expenses or liabilities as a condition to so proceeding. The reasonable
expense of every such examination shall be paid by the Company or, if paid by the Trustee, shall be repaid by the Company upon
demand; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through agents
or attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed
with due care by it hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
rights, privileges, protections, immunities and benefits given to the Trustee, including, without limitation, its right to be indemnified,
are extended to, and shall be enforceable by, the Trustee in each of the capacities it may be appointed to hereunder, and to each
agent, custodian and other Person employed to act hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Trustee may request that the Company deliver an Officers&rsquo; Certificate setting forth the names of individuals and/or titles
of officers authorized at such time to take specified actions pursuant to this Indenture, which Officers&rsquo; Certificate may
be signed by any Person authorized to sign an Officers&rsquo; Certificate, including any Person specified as so authorized in any
such certificate previously delivered and not superseded.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Whenever
in the administration of this Indenture the Trustee shall deem it desirable that a matter be proved or established prior to taking,
suffering or omitting any action hereunder, the Trustee (unless other evidence be herein specifically prescribed) may, in the absence
of bad faith on its part, rely upon an Officers&rsquo; Certificate;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In addition, the Trustee shall not be deemed
to have knowledge of any Default or Event of Default except (1)&nbsp;any Event of Default occurring pursuant to Sections 6.01(a)(1)&nbsp;and
6.01(a)(2)&nbsp;or (2)&nbsp;any Default or Event of Default of which the Trustee shall have received written notification in the
manner set forth in this Indenture or a Responsible Officer of the Trustee shall have obtained actual knowledge. Delivery of reports,
information and documents to the Trustee under Section 5.03 is for informational purposes only and the information and the Trustee&rsquo;s
receipt of the foregoing shall not constitute constructive notice of any information contained therein, or determinable from information
contained therein including the Company&rsquo;s compliance with any of their covenants thereunder (as to which the Trustee is entitled
to rely exclusively on an Officer&rsquo;s Certificate).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 7.03&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Trustee
Not Responsible for Recitals or Issuance or Securities</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
recitals contained herein and in the Securities shall be taken as the statements of the Company, and the Trustee assumes no responsibility
for the correctness of the same.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Trustee makes no representations as to the validity or sufficiency of this Indenture or of the Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Trustee shall not be accountable for the use or application by the Company of any of the Securities or of the proceeds of such
Securities, or for the use or application of any moneys paid over by the Trustee in accordance with any provision of this Indenture
or established pursuant to Section 2.01, or for the use or application of any moneys received by any paying agent other than the
Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 7.04&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>May&nbsp;Hold
Securities</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Trustee or any paying agent or Security
Registrar, in its individual or any other capacity, may become the owner or pledgee of Securities with the same rights it would
have if it were not Trustee, paying agent or Security Registrar.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 7.05&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Moneys
Held in Trust</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Subject to the provisions of Section 11.05,
all moneys received by the Trustee shall, until used or applied as herein provided, be held in trust for the purposes for which
they were received, but need not be segregated from other funds except to the extent required by law. The Trustee shall be under
no liability for interest on any moneys received by it hereunder except such as it may agree with the Company to pay thereon.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 7.06&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Compensation
and Reimbursement</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company covenants and agrees to pay to the Trustee, and the Trustee shall be entitled to, such reasonable compensation (which shall
not be limited by any provision of law in regard to the compensation of a trustee of an express trust), as the Company, and the
Trustee may from time to time agree in writing, for all services rendered by it in the execution of the trusts hereby created and
in the exercise and performance of any of the powers and duties hereunder of the Trustee, and, except as otherwise expressly provided
herein, the Company will pay or reimburse the Trustee upon its request for all reasonable expenses, disbursements and advances
incurred or made by the Trustee in accordance with any of the provisions of this Indenture (including the reasonable compensation
and the expenses and disbursements of its counsel and of all Persons not regularly in its employ) except any such expense, disbursement
or advance as may arise from its negligence or bad faith. The Company also covenants to indemnify the Trustee (and its officers,
agents, directors and employees) for, and to hold it harmless against, any loss, liability, claim, action, suit, cost or expense
of any kind and nature whatsoever incurred without negligence or bad faith on the part of the Trustee and arising out of or in
connection with the acceptance or administration of this trust, including the costs and expenses of defending itself against any
claim of liability in the premises.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
obligations of the Company under this Section to compensate and indemnify the Trustee and to pay or reimburse the Trustee for expenses,
disbursements and advances shall constitute additional indebtedness hereunder. Such additional indebtedness shall be secured by
a lien prior to that of the Securities upon all property and funds held or collected by the Trustee as such.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 7.07&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Reliance
on Officer&rsquo;s Certificate</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Except as otherwise provided in Section 7.01,
whenever in the administration of the provisions of this Indenture the Trustee shall deem it necessary or desirable that a matter
be proved or established prior to taking or suffering or omitting to take any action hereunder, such matter (unless other evidence
in respect thereof be herein specifically prescribed) may, in the absence of negligence or bad faith on the part of the Trustee,
be deemed to be conclusively proved and established by an Officer&rsquo;s Certificate delivered to the Trustee and such certificate,
in the absence of negligence or bad faith on the part of the Trustee, shall be full warrant to the Trustee for any action taken,
suffered or omitted to be taken by it under the provisions of this Indenture upon the faith thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 7.08&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Disqualification;
Conflicting Interests</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">If the Trustee has or shall acquire any &ldquo;conflicting
interest&rdquo; within the meaning of Section 310(b)&nbsp;of the Trust Indenture Act, the Trustee and the Company shall in all
respects comply with the provisions of Section 310(b)&nbsp;of the Trust Indenture Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 7.09&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Corporate
Trustee Required; Eligibility</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">There shall at all times be a Trustee with respect
to the Securities issued hereunder which shall at all times be a corporation organized and doing business under the laws of the
United States of America or any state or territory thereof or of the District of Columbia, or a corporation or other Person permitted
to act as trustee by the Securities and Exchange Commission, authorized under such laws to exercise corporate trust powers, having
a combined capital and surplus of at least fifty million U.S. dollars ($50,000,000), and subject to supervision or examination
by federal, state, territorial, or District of Columbia authority.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">If such corporation or other Person publishes
reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority,
then for the purposes of this Section, the combined capital and surplus of such corporation or other Person shall be deemed to
be its combined capital and surplus as set forth in its most recent report of condition so published. The Company may not, nor
may any Person directly or indirectly controlling, controlled by, or under common control with the Company, serve as Trustee. In
case at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section, the Trustee shall resign
immediately in the manner and with the effect specified in Section 7.10.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 7.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Resignation
and Removal; Appointment of Successor</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Trustee or any successor hereafter appointed, may at any time resign with respect to the Securities of one or more series by giving
written notice thereof to the Company and by transmitting notice of resignation by mail, first class postage prepaid, to the Securityholders
of such series, as their names and addresses appear upon the Security Register. Upon receiving such notice of resignation, the
Company shall promptly appoint a successor trustee with respect to Securities of such series by written instrument, in duplicate,
executed by order of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy
to the successor trustee. If no successor trustee shall have been so appointed and have accepted appointment within 30 days after
the mailing of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment
of a successor trustee with respect to Securities of such series, or any Securityholder of that series who has been a bona fide
holder of a Security or Securities for at least six months may on behalf of himself and all others similarly situated, petition
any such court for the appointment of a successor trustee. Such court may thereupon after such notice, if any, as it may deem proper
and prescribe, appoint a successor trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
case at any time any one of the following shall occur:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Trustee shall fail to comply with the provisions of Section 7.08 after written request therefor by the Company or by any Securityholder
who has been a bona fide holder of a Security or Securities for at least six months; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Trustee shall cease to be eligible in accordance with the provisions of Section 7.09 and shall fail to resign after written request
therefor by the Company or by any such Securityholder; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Trustee shall become incapable of acting, or shall be adjudged a bankrupt or insolvent, or commence a voluntary bankruptcy proceeding,
or a receiver of the Trustee or of its property shall be appointed or consented to, or any public officer shall take charge or
control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, then, in any
such case, the Company may remove the Trustee with respect to all Securities and appoint a successor trustee by written instrument,
in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed
and one copy to the successor trustee, or, unless the Trustee&rsquo;s duty to resign is stayed as provided herein, any Securityholder
who has been a bona fide holder of a Security or Securities for at least six months may, on behalf of that holder and all others
similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor
trustee. Such court may thereupon after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint
a successor trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
holders of a majority in aggregate principal amount of the Securities of any series at the time Outstanding may at any time remove
the Trustee with respect to such series by so notifying the Trustee and the Company and may appoint a successor Trustee for such
series with the consent of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
resignation or removal of the Trustee and appointment of a successor trustee with respect to the Securities of a series pursuant
to any of the provisions of this Section shall become effective upon acceptance of appointment by the successor trustee as provided
in Section 7.11.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
successor trustee appointed pursuant to this Section may be appointed with respect to the Securities of one or more series or all
of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 7.11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Acceptance
of Appointment By Successor</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
case of the appointment hereunder of a successor trustee with respect to all Securities, every such successor trustee so appointed
shall execute, acknowledge and deliver to the Company and to the retiring Trustee an instrument accepting such appointment, and
thereupon the resignation or removal of the retiring Trustee shall become effective and such successor trustee, without any further
act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee; but, on the
request of the Company or the successor trustee, such retiring Trustee shall, upon payment of its charges, execute and deliver
an instrument transferring to such successor trustee all the rights, powers, and trusts of the retiring Trustee and shall duly
assign, transfer and deliver to such successor trustee all property and money held by such retiring Trustee hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
case of the appointment hereunder of a successor trustee with respect to the Securities of one or more (but not all) series, the
Company, the retiring Trustee and each successor trustee with respect to the Securities of one or more series shall execute and
deliver an indenture supplemental hereto wherein each successor trustee shall accept such appointment and which (1)&nbsp;shall
contain such provisions as shall be necessary or desirable to transfer and confirm to, and to vest in, each successor trustee all
the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to which the
appointment of such successor trustee relates, (2)&nbsp;shall contain such provisions as shall be deemed necessary or desirable
to confirm that all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those
series as to which the retiring Trustee is not retiring shall continue to be vested in the retiring Trustee, and (3)&nbsp;shall
add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration
of the trusts hereunder by more than one Trustee, it being understood that nothing herein or in such supplemental indenture shall
constitute such Trustees co-trustees of the same trust, that each such Trustee shall be trustee of a trust or trusts hereunder
separate and apart from any trust or trusts hereunder administered by any other such Trustee and that no Trustee shall be responsible
for any act or failure to act on the part of any other Trustee hereunder; and upon the execution and delivery of such supplemental
indenture the resignation or removal of the retiring Trustee shall become effective to the extent provided therein, such retiring
Trustee shall with respect to the Securities of that or those series to which the appointment of such successor trustee relates
have no further responsibility for the exercise of rights and powers or for the performance of the duties and obligations vested
in the Trustee under this Indenture, and each such successor trustee, without any further act, deed or conveyance, shall become
vested with all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series
to which the appointment of such successor trustee relates; but, on request of the Company or any successor trustee, such retiring
Trustee shall duly assign, transfer and deliver to such successor trustee, to the extent contemplated by such supplemental indenture,
the property and money held by such retiring Trustee hereunder with respect to the Securities of that or those series to which
the appointment of such successor trustee relates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon
request of any such successor trustee, the Company shall execute any and all instruments for more fully and certainly vesting in
and confirming to such successor trustee all such rights, powers and trusts referred to in paragraph (a)&nbsp;or (b)&nbsp;of this
Section, as the case may be.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
successor trustee shall accept its appointment unless at the time of such acceptance such successor trustee shall be qualified
and eligible under this Article.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon
acceptance of appointment by a successor trustee as provided in this Section, the Company shall transmit notice of the succession
of such trustee hereunder by mail, first class postage prepaid, to the Securityholders, as their names and addresses appear upon
the Security Register. If the Company fails to transmit such notice within ten days after acceptance of appointment by the successor
trustee, the successor trustee shall cause such notice to be transmitted at the expense of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 7.12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Merger,
Conversion, Consolidation or Succession to Business</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Any corporation into which the Trustee may be
merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation
to which the Trustee shall be a party, or any corporation succeeding to all or substantially all of the corporate trust business
of the Trustee, shall be the successor of the Trustee hereunder, provided that such corporation shall be qualified under the provisions
of Section 7.08 and eligible under the provisions of Section 7.09, without the execution or filing of any paper or any further
act on the part of any of the parties hereto, anything herein to the contrary notwithstanding. In case any Securities shall have
been authenticated, but not delivered, by the Trustee then in office, any successor by merger, conversion or consolidation to such
authenticating Trustee may adopt such authentication and deliver the Securities so authenticated with the same effect as if such
successor Trustee had itself authenticated such Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 7.13&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Preferential
Collection of Claims Against the Company</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Trustee shall comply with Section 311(a)&nbsp;of
the Trust Indenture Act, excluding any creditor relationship described in Section 311(b)&nbsp;of the Trust Indenture Act. A Trustee
who has resigned or been removed shall be subject to Section 311(a)&nbsp;of the Trust Indenture Act to the extent included therein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 7.14&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Notice
of Default</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">If any Default or any Event of Default occurs
and is continuing and if such Default or Event of Default is known to a Responsible Officer of the Trustee, the Trustee shall mail
to each Securityholder in the manner and to the extent provided in Section 313(c)&nbsp;of the Trust Indenture Act notice of the
Default or Event of Default within the earlier of 90 days after it occurs and 30 days after it is known to a Responsible Officer
of the Trustee or written notice of it is received by the Trustee, unless such Default or Event of Default has been cured; provided,
however, that, except in the case of a default in the payment of the principal of (or premium, if any) or interest on any Security,
the Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive committee or
a trust committee of directors and/or Responsible Officers of the Trustee in good faith determine that the withholding of such
notice is in the interest of the Securityholders.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase">Article
VIII.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in">CONCERNING THE SECURITYHOLDERS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 8.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Evidence
of Action by Securityholders</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Whenever in this Indenture it is provided that
the holders of a majority or specified percentage in aggregate principal amount of the Securities of a particular series may take
any action (including the making of any demand or request, the giving of any notice, consent or waiver or the taking of any other
action), the fact that at the time of taking any such action the holders of such majority or specified percentage of that series
have joined therein may be evidenced by any instrument or any number of instruments of similar tenor executed by such holders of
Securities of that series in Person or by agent or proxy appointed in writing.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">If the Company shall solicit from the Securityholders
of any series any request, demand, authorization, direction, notice, consent, waiver or other action, the Company may, at its option,
as evidenced by an Officer&rsquo;s Certificate, fix in advance a record date for such series for the determination of Securityholders
entitled to give such request, demand, authorization, direction, notice, consent, waiver or other action, but the Company shall
have no obligation to do so. If such a record date is fixed, such request, demand, authorization, direction, notice, consent, waiver
or other action may be given before or after the record date, but only the Securityholders of record at the close of business on
the record date shall be deemed to be Securityholders for the purposes of determining whether Securityholders of the requisite
proportion of Outstanding Securities of that series have authorized or agreed or consented to such request, demand, authorization,
direction, notice, consent, waiver or other action, and for that purpose the Outstanding Securities of that series shall be computed
as of the record date; provided, however, that no such authorization, agreement or consent by such Securityholders on the record
date shall be deemed effective unless it shall become effective pursuant to the provisions of this Indenture not later than six
months after the record date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 8.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Proof
of Execution by Securityholders</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Subject to the provisions of Section 7.01, proof
of the execution of any instrument by a Securityholder (such proof will not require notarization) or his agent or proxy and proof
of the holding by any Person of any of the Securities shall be sufficient if made in the following manner:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
fact and date of the execution by any such Person of any instrument may be proved in any reasonable manner acceptable to the Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
ownership of Securities shall be proved by the Security Register of such Securities or by a certificate of the Security Registrar
thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Trustee may require such additional proof of any matter referred to in this Section as it shall deem necessary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 8.03&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Who
May&nbsp;be Deemed Owners</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Prior to the due presentment for registration
of transfer of any Security, the Company, the Trustee, any paying agent and any Security Registrar may deem and treat the Person
in whose name such Security shall be registered upon the books of the Company as the absolute owner of such Security (whether or
not such Security shall be overdue and notwithstanding any notice of ownership or writing thereon made by anyone other than the
Security Registrar) for the purpose of receiving payment of or on account of the principal of, premium, if any, and (subject to
Section 2.03) interest on such Security and for all other purposes; and neither the Company nor the Trustee nor any paying agent
nor any Security Registrar shall be affected by any notice to the contrary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 8.04&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Certain
Securities Owned by Company Disregarded</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In determining whether the holders of the requisite
aggregate principal amount of Securities of a particular series have concurred in any direction, consent or waiver under this Indenture,
the Securities of that series that are owned by the Company or any other obligor on the Securities of that series or by any Person
directly or indirectly controlling or controlled by or under common control with the Company or any other obligor on the Securities
of that series shall be disregarded and deemed not to be Outstanding for the purpose of any such determination, except that for
the purpose of determining whether the Trustee shall be protected in relying on any such direction, consent or waiver, only Securities
of such series that the Trustee actually knows are so owned shall be so disregarded. The Securities so owned that have been pledged
in good faith may be regarded as Outstanding for the purposes of this Section, if the pledgee shall establish to the satisfaction
of the Trustee the pledgee&rsquo;s right so to act with respect to such Securities and that the pledgee is not a Person directly
or indirectly controlling or controlled by or under direct or indirect common control with the Company or any such other obligor.
In case of a dispute as to such right, any decision by the Trustee taken upon the advice of counsel shall be full protection to
the Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 8.05&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Actions
Binding on Future Securityholders</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">At any time prior to (but not after) the evidencing
to the Trustee, as provided in Section 8.01, of the taking of any action by the holders of the majority or percentage in aggregate
principal amount of the Securities of a particular series specified in this Indenture in connection with such action, any holder
of a Security of that series that is shown by the evidence to be included in the Securities the holders of which have consented
to such action may, by filing written notice with the Trustee, and upon proof of holding as provided in Section 8.02, revoke such
action so far as concerns such Security. Except as aforesaid any such action taken by the holder of any Security shall be conclusive
and binding upon such holder and upon all future holders and owners of such Security, and of any Security issued in exchange therefor,
on registration of transfer thereof or in place thereof, irrespective of whether or not any notation in regard thereto is made
upon such Security. Any action taken by the holders of the majority or percentage in aggregate principal amount of the Securities
of a particular series specified in this Indenture in connection with such action shall be conclusively binding upon the Company,
the Trustee and the holders of all the Securities of that series.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase"></FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase">Article
IX.</FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 9.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Supplemental
Indentures Without the Consent of Securityholders</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In addition to any supplemental indenture otherwise
authorized by this Indenture, the Company and the Trustee may from time to time and at any time enter into an indenture or indentures
supplemental hereto (which shall conform to the provisions of the Trust Indenture Act as then in effect), without the consent of
the Securityholders, for one or more of the following purposes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to
cure any ambiguity, defect, or inconsistency herein, or in the Securities of any series;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to
comply with Article Ten;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to
provide for uncertificated Securities in addition to or in place of certificated Securities;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to
add to the covenants, restrictions, conditions or provisions relating to the Company for the benefit of the holders of all or any
series of Securities (and if such covenants, restrictions, conditions or provisions are to be for the benefit of less than all
series of Securities, stating that such covenants, restrictions, conditions or provisions are expressly being included solely for
the benefit of such series), to make the occurrence, or the occurrence and the continuance, of a default in any such additional
covenants, restrictions, conditions or provisions an Event of Default, or to surrender any right or power herein conferred upon
the Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to
convey, transfer, assign, mortgage or pledge any property to or with the Trustee or otherwise secure any series of the Securities,
including provisions regarding the circumstances under which collateral may be released or substituted;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
to add any additional Events of Default for the benefit of the Holders of any one or more series of Securities (and if such additional
Events of Default are to be for the benefit of less than all series of Securities, stating that such additional Events of Default
are expressly being included solely for the benefit of such series);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to
add to or change any of the provisions of this Indenture to such extent as shall be necessary to permit or facilitate the issuance
of Securities in bearer form, registrable or not registrable as to principal, and with or without interest coupons, or to permit
or facilitate the issuance of Securities in global form or uncertificated form;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to
add to, change or eliminate any of the provisions of this Indenture in respect of one or more series of Securities, provided that
any such addition, change or elimination (A) shall neither (i) apply to any Outstanding Security of any series created prior to
the execution of such supplemental indenture and entitled to the benefit of such provision, or (ii) modify the rights of any Holder
of any Outstanding Security with respect to such provision, or (B) shall become effective when there is no Security then Outstanding;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to
make any change that does not adversely affect the rights of any Securityholder in any material respect;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to
provide for the issuance of and establish the form and terms and conditions of the Securities of any series as provided in Section
2.01, to establish the form of any certifications required to be furnished pursuant to the terms of this Indenture or any series
of Securities, or to add to the rights of the holders of any series of Securities;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to
evidence and provide for the acceptance of appointment hereunder by a successor trustee; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to
comply with any requirements of the Securities and Exchange Commission or any successor in connection with the qualification of
this Indenture under the Trust Indenture Act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Trustee is hereby authorized to join with
the Company in the execution of any such supplemental indenture, and to make any further appropriate agreements and stipulations
that may be therein contained, but the Trustee shall not be obligated to enter into any such supplemental indenture that affects
the Trustee&rsquo;s own rights, duties or immunities under this Indenture or otherwise.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Any supplemental indenture authorized by the
provisions of this Section may be executed by the Company and the Trustee without the consent of the holders of any of the Securities
at the time Outstanding, notwithstanding any of the provisions of Section 9.02.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 9.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Supplemental
Indentures With Consent of Securityholders</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">With the consent (evidenced as provided in Section
8.01) of the holders of not less than a majority in aggregate principal amount of the Securities of each series affected by such
supplemental indenture or indentures at the time Outstanding, the Company, when authorized by a Board Resolution, and the Trustee
may from time to time and at any time enter into an indenture or indentures supplemental hereto (which shall conform to the provisions
of the Trust Indenture Act as then in effect) for the purpose of adding any provisions to or changing in any manner or eliminating
any of the provisions of this Indenture or of any supplemental indenture or of modifying in any manner not covered by Section 9.01
the rights of the holders of the Securities of such series under this Indenture; provided, however, that no such supplemental indenture
shall, without the consent of the holders of each Security then Outstanding and affected thereby,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 2in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 2in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;extend
the fixed maturity of any Securities of any series, or reduce the principal amount thereof, or reduce the rate or extend the time
of payment of interest thereon, or reduce any premium payable upon the redemption thereof;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 2in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;change
any obligation to pay additional amounts;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 2in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;reduce
the amount of principal of an original issue discount security or any other Security payable upon acceleration of the maturity
thereof;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 2in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;change
currency in which any Security or any premium or interest is payable;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 2in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;impair
the right to enforce any payment on or with respect to any Security;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 2in">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;adversely
change the right to convert or exchange, including decreasing the conversion rate or increasing the conversion price of, such Security
(if applicable);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 2in">(vii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;modify
the subordination provisions in a manner adverse to the holders of such Securities;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 2in">(viii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;if the
Securities are secured, change the terms and conditions pursuant to which the Securities are secured in a manner adverse to the
holders of the Securities;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 2in">(ix)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;reduce
the percentage in principal amount of outstanding Securities of any series, the consent of whose holders is required for modification
or amendment of the indenture or for waiver of compliance with certain provisions of the indenture or for waiver of certain defaults;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 2in">(x)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;reduce
the requirements contained in the indenture for quorum or voting;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 2in">(xi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;change
any obligations of the Company to maintain an office or agency in the places and for the purposes required by the indentures; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 2in">(xii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;modify
any of the above provisions.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">It shall not be necessary for the consent of
the Securityholders of any series affected thereby under this Section to approve the particular form of any proposed supplemental
indenture, but it shall be sufficient if such consent shall approve the substance thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 9.03&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Effect
of Supplemental Indentures</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Upon the execution of any supplemental indenture
pursuant to the provisions of this Article or of Section 10.01, this Indenture shall, with respect to such series, be and be deemed
to be modified and amended in accordance therewith and the respective rights, limitations of rights, obligations, duties and immunities
under this Indenture of the Trustee, the Company and the holders of Securities of the series affected thereby shall thereafter
be determined, exercised and enforced hereunder subject in all respects to such modifications and amendments, and all the terms
and conditions of any such supplemental indenture shall be and be deemed to be part of the terms and conditions of this Indenture
for any and all purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 9.04&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Securities
Affected by Supplemental Indentures</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Securities of any series, affected by a supplemental
indenture, authenticated and delivered after the execution of such supplemental indenture pursuant to the provisions of this Article
or of Section 10.01, may bear a notation in form approved by the Company, provided such form meets the requirements of any exchange
upon which such series may be listed, as to any matter provided for in such supplemental indenture. If the Company shall so determine,
new Securities of that series so modified as to conform, in the opinion of the Board of Directors of the Company, to any modification
of this Indenture contained in any such supplemental indenture may be prepared by the Company, authenticated by the Trustee and
delivered in exchange for the Securities of that series then Outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 9.05&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Execution
of Supplemental Indentures</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Upon the request of the Company, accompanied
by its Board Resolutions authorizing the execution of any such supplemental indenture, and upon the filing with the Trustee of
evidence of the consent of Securityholders required to consent thereto as aforesaid, the Trustee shall join with the Company in
the execution of such supplemental indenture unless such supplemental indenture affects the Trustee&rsquo;s own rights, duties
or immunities under this Indenture or otherwise, in which case the Trustee may in its discretion but shall not be obligated to
enter into such supplemental indenture. The Trustee, subject to the provisions of Section 7.01, may receive an Opinion of Counsel
as conclusive evidence that any supplemental indenture executed pursuant to this Article is authorized or permitted by, and conforms
to, the terms of this Article and that it is proper for the Trustee under the provisions of this Article to join in the execution
thereof; provided, however, that such Opinion of Counsel need not be provided in connection with the execution of a supplemental
indenture that establishes the terms of a series of Securities pursuant to Section 2.01 hereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Promptly after the execution by the Company
and the Trustee of any supplemental indenture pursuant to the provisions of this Section, the Trustee shall transmit by mail, first
class postage prepaid, a notice, setting forth in general terms the substance of such supplemental indenture, to the Securityholders
of all series affected thereby as their names and addresses appear upon the Security Register. Any failure of the Trustee to mail
such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such supplemental indenture.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase"></FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase">Article
X.</FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 10.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Company
May&nbsp;Consolidate, Etc</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Except as provided pursuant to Section 2.01
pursuant to a Board Resolution, and set forth in an Officer&rsquo;s Certificate, or established in one or more indentures supplemental
to this Indenture, nothing contained in this Indenture shall prevent any consolidation or merger of the Company with or into any
other Person (whether or not affiliated with the Company) or successive consolidations or mergers in which the Company or its successor
or successors shall be a party or parties, or shall prevent any sale, conveyance, transfer or other disposition of the property
of the Company or its successor or successors as an entirety, or substantially as an entirety, to any other corporation (whether
or not affiliated with the Company or its successor or successors) authorized to acquire and operate the same; provided, however,
(a)&nbsp;the Company hereby covenants and agrees that, upon any such consolidation or merger (in each case, if the Company is not
the survivor of such transaction), sale, conveyance, transfer or other disposition, the due and punctual payment of the principal
of (premium, if any) and interest on all of the Securities of all series in accordance with the terms of each series, according
to their tenor, and the due and punctual performance and observance of all the covenants and conditions of this Indenture with
respect to each series or established with respect to such series pursuant to Section 2.01 to be kept or performed by the Company
shall be expressly assumed, by supplemental indenture (which shall conform to the provisions of the Trust Indenture Act, as then
in effect) reasonably satisfactory in form to the Trustee executed and delivered to the Trustee by the entity formed by such consolidation,
or into which the Company shall have been merged, or by the entity which shall have acquired such property and (b)&nbsp;in the
event that the Securities of any series then Outstanding are convertible into or exchangeable for shares of common stock or other
securities of the Company, such entity shall, by such supplemental indenture, make provision so that the Securityholders of Securities
of that series shall thereafter be entitled to receive upon conversion or exchange of such Securities the number of securities
or property to which a holder of the number of shares of common stock or other securities of the Company deliverable upon conversion
or exchange of those Securities would have been entitled had such conversion or exchange occurred immediately prior to such consolidation,
merger, sale, conveyance, transfer or other disposition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 10.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Successor
Corporation Substituted</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
case of any such consolidation, merger, sale, conveyance, transfer or other disposition and upon the assumption by the successor
entity by supplemental indenture, executed and delivered to the Trustee and satisfactory in form to the Trustee, of the obligations
set forth under Section 10.01 on all of the Securities of all series Outstanding, such successor entity shall succeed to and be
substituted for the Company with the same effect as if it had been named as the Company herein, and thereupon the predecessor corporation
shall be relieved of all obligations and covenants under this Indenture and the Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
case of any such consolidation, merger, sale, conveyance, transfer or other disposition such changes in phraseology and form (but
not in substance) may be made in the Securities thereafter to be issued as may be appropriate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nothing
contained in this Article shall require any action by the Company in the case of a consolidation or merger of any Person into the
Company where the Company is the survivor of such transaction, or the acquisition by the Company, by purchase or otherwise, of
all or any part of the property of any other Person (whether or not affiliated with the Company).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 10.03&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Evidence
of Consolidation, Etc. to Trustee</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Trustee, subject to the provisions of Section
7.01, may receive an Opinion of Counsel as conclusive evidence that any such consolidation, merger, sale, conveyance, transfer
or other disposition, and any such assumption, comply with the provisions of this Article.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase">Article
XI.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in">SATISFACTION AND DISCHARGE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 11.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Satisfaction
and Discharge of Indenture</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">If at any time: (a)&nbsp;the Company shall have
delivered to the Trustee for cancellation all Securities of a series theretofore authenticated (other than any Securities that
shall have been destroyed, lost or stolen and that shall have been replaced or paid as provided in Section 2.07) and Securities
for whose payment money or Governmental Obligations have theretofore been deposited in trust or segregated and held in trust by
the Company (and thereupon repaid to the Company or discharged from such trust, as provided in Section 11.05); or (b)&nbsp;all
such Securities of a particular series not theretofore delivered to the Trustee for cancellation shall have become due and payable,
or are by their terms to become due and payable within one year or are to be called for redemption within one year under arrangements
satisfactory to the Trustee for the giving of notice of redemption, and the Company shall deposit or cause to be deposited with
the Trustee as trust funds the entire amount in moneys or Governmental Obligations or a combination thereof, sufficient in the
opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered
to the Trustee, to pay at maturity or upon redemption all Securities of that series not theretofore delivered to the Trustee for
cancellation, including principal (and premium, if any) and interest due or to become due to such date of maturity or date fixed
for redemption, as the case may be, and if the Company shall also pay or cause to be paid all other sums payable hereunder with
respect to such series by the Company then this Indenture shall thereupon cease to be of further effect with respect to such series
except for the provisions of Sections 2.03, 2.05, 2.07, 4.01, 4.02, 4.03 and 7.10, that shall survive until the date of maturity
or redemption date, as the case may be, and Sections 7.06 and 11.05, that shall survive to such date and thereafter, and the Trustee,
on demand of the Company and at the cost and expense of the Company shall execute proper instruments acknowledging satisfaction
of and discharging this Indenture with respect to such series.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 11.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Discharge
of Obligations</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">If at any time all such Securities of a particular
series not heretofore delivered to the Trustee for cancellation or that have not become due and payable as described in Section
11.01 shall have been paid by the Company by depositing irrevocably with the Trustee as trust funds moneys or an amount of Governmental
Obligations sufficient to pay at maturity or upon redemption all such Securities of that series not theretofore delivered to the
Trustee for cancellation, including principal (and premium, if any) and interest due or to become due to such date of maturity
or date fixed for redemption, as the case may be, and if the Company shall also pay or cause to be paid all other sums payable
hereunder by the Company with respect to such series, then after the date such moneys or Governmental Obligations, as the case
may be, are deposited with the Trustee the obligations of the Company under this Indenture with respect to such series shall cease
to be of further effect except for the provisions of Sections 2.03, 2.05, 2.07, 4,01, 4.02, 4,03, 7.06, 7.10 and 11.05 hereof that
shall survive until such Securities shall mature and be paid. Thereafter, Sections 7.06 and 11.05 shall survive.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 11.03&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Deposited
Moneys to be Held in Trust</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">All moneys or Governmental Obligations deposited
with the Trustee pursuant to Sections 11.01 or 11.02 shall be held in trust and shall be available for payment as due, either directly
or through any paying agent (including the Company acting as its own paying agent), to the holders of the particular series of
Securities for the payment or redemption of which such moneys or Governmental Obligations have been deposited with the Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 11.04&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Payment
of Moneys Held by Paying Agents</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In connection with the satisfaction and discharge
of this Indenture all moneys or Governmental Obligations then held by any paying agent under the provisions of this Indenture shall,
upon demand of the Company, be paid to the Trustee and thereupon such paying agent shall be released from all further liability
with respect to such moneys or Governmental Obligations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 11.05&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Repayment
to Company</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Any moneys or Governmental Obligations deposited
with any paying agent or the Trustee, or then held by the Company, in trust for payment of principal of or premium, if any, or
interest on the Securities of a particular series that are not applied but remain unclaimed by the holders of such Securities for
at least two years after the date upon which the principal of (and premium, if any) or interest on such Securities shall have respectively
become due and payable, or such other shorter period set forth in applicable escheat or abandoned or unclaimed property law, shall
be repaid to the Company on May&nbsp;31 of each year or upon the Company&rsquo;s request or (if then held by the Company) shall
be discharged from such trust; and thereupon the paying agent and the Trustee shall be released from all further liability with
respect to such moneys or Governmental Obligations, and the holder of any of the Securities entitled to receive such payment shall
thereafter, as a general creditor, look only to the Company for the payment thereof.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase"></FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase">Article
XII.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in">IMMUNITY OF INCORPORATORS,
STOCKHOLDERS,</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in">OFFICERS AND DIRECTORS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 12.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Recourse</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">No recourse under or upon any obligation, covenant
or agreement of this Indenture, or of any Security, or for any claim based thereon or otherwise in respect thereof, shall be had
against any incorporator, stockholder, officer or director, past, present or future as such, of the Company or of any predecessor
or successor corporation, either directly or through the Company or any such predecessor or successor corporation, whether by virtue
of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly
understood that this Indenture and the obligations issued hereunder are solely corporate obligations, and that no such personal
liability whatever shall attach to, or is or shall be incurred by, the incorporators, stockholders, officers or directors as such,
of the Company or of any predecessor or successor corporation, or any of them, because of the creation of the indebtedness hereby
authorized, or under or by reason of the obligations, covenants or agreements contained in this Indenture or in any of the Securities
or implied therefrom; and that any and all such personal liability of every name and nature, either at common law or in equity
or by constitution or statute, of, and any and all such rights and claims against, every such incorporator, stockholder, officer
or director as such, because of the creation of the indebtedness hereby authorized, or under or by reason of the obligations, covenants
or agreements contained in this Indenture or in any of the Securities or implied therefrom, are hereby expressly waived and released
as a condition of, and as a consideration for, the execution of this Indenture and the issuance of such Securities.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase">Article
XIII.</FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 13.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Effect
on Successors and Assigns</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">All the covenants, stipulations, promises and
agreements in this Indenture made by or on behalf of the Company shall bind its successors and assigns, whether so expressed or
not.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 13.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Actions
by Successor</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Any act or proceeding by any provision of this
Indenture authorized or required to be done or performed by any board, committee or officer of the Company shall and may be done
and performed with like force and effect by the corresponding board, committee or officer of any corporation that shall at the
time be the lawful sole successor of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 13.03&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Surrender
of Company Powers</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Company by instrument in writing executed
by authority of 2/3 (two-thirds) of its Board of Directors and delivered to the Trustee may surrender any of the powers reserved
to the Company, and thereupon such power so surrendered shall terminate both as to the Company and as to any successor corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 13.04&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Notices</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Except as otherwise expressly provided herein
any notice, request or demand that by any provision of this Indenture is required or permitted to be given, made or served by the
Trustee or by the holders of Securities or by any other Person pursuant to this Indenture to or on the Company may be given or
served by being deposited in first class mail, postage prepaid, addressed (until another address is filed in writing by the Company
with the Trustee), as follows: Lexington Realty Trust, One Penn Plaza, Suite 4015, New York, NY 10119. Any notice, election, request
or demand by the Company or any Securityholder or by any other Person pursuant to this Indenture to or upon the Trustee shall be
deemed to have been sufficiently given or made, for all purposes, if given or made in writing at the Corporate Trust Office of
the Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 13.05&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Governing
Law</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">This Indenture and each Security shall be deemed
to be a contract made under the internal laws of the State of New York, and for all purposes shall be construed in accordance with
the laws of said State.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 13.06&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Treatment
of Securities as Debt</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">It is intended that the Securities will be treated
as indebtedness and not as equity for federal income tax purposes. The provisions of this Indenture shall be interpreted to further
this intention.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 13.07&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Compliance
Certificates and Opinions</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon
any application or demand by the Company to the Trustee to take any action under any of the provisions of this Indenture, the Company,
shall furnish to the Trustee an Officer&rsquo;s Certificate stating that all conditions precedent provided for in this Indenture
(other than the certificate to be delivered pursuant to Section 13.12) relating to the proposed action have been complied with
and, if requested, an Opinion of Counsel stating that in the opinion of such counsel all such conditions precedent have been complied
with, except that in the case of any such application or demand as to which the furnishing of such documents is specifically required
by any provision of this Indenture relating to such particular application or demand, no additional certificate or opinion need
be furnished.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
certificate or opinion provided for in this Indenture and delivered to the Trustee with respect to compliance with a condition
or covenant in this Indenture shall include (1)&nbsp;a statement that the Person making such certificate or opinion has read such
covenant or condition; (2)&nbsp;a brief statement as to the nature and scope of the examination or investigation upon which the
statements or opinions contained in such certificate or opinion are based; (3)&nbsp;a statement that, in the opinion of such Person,
he has made such examination or investigation as is necessary to enable him to express an informed opinion as to whether or not
such covenant or condition has been complied with; and (4)&nbsp;a statement as to whether or not, in the opinion of such Person,
such condition or covenant has been complied with.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 13.08&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Payments
on Business Days</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Except as provided pursuant to Section 2.01
pursuant to a Board Resolution, and as set forth in an Officer&rsquo;s Certificate, or established in one or more indentures supplemental
to this Indenture, in any case where the date of maturity of interest or principal of any Security or the date of redemption of
any Security shall not be a Business Day, then payment of interest or principal (and premium, if any) may be made on the next succeeding
Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue
for the period after such nominal date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 13.09&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Conflict
with Trust Indenture Act</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">If and to the extent that any provision of this
Indenture limits, qualifies or conflicts with the duties imposed by Sections 310 to 317, inclusive, of the Trust Indenture Act,
such imposed duties shall control.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 13.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Counterparts</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">This Indenture may be executed in any number
of counterparts, each of which shall be an original, but such counterparts shall together constitute but one and the same instrument.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 13.11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Separability</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In case any one or more of the provisions contained
in this Indenture or in the Securities of any series shall for any reason be held to be invalid, illegal or unenforceable in any
respect, such invalidity, illegality or unenforceability shall not affect any other provisions of this Indenture or of such Securities,
but this Indenture and such Securities shall be construed as if such invalid or illegal or unenforceable provision had never been
contained herein or therein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 13.12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Compliance
Certificates</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Company shall deliver to the Trustee, within
120 days after the end of each fiscal year during which any Securities of any series were outstanding, an officer&rsquo;s certificate
stating whether or not the signers know of any Default or Event of Default that occurred during such fiscal year. Such certificate
shall contain a certification from the principal executive officer, principal financial officer or principal accounting officer
of the Company that a review has been conducted of the activities of the Company and the Company&rsquo;s performance under this
Indenture and that the Company has complied with all conditions and covenants under this Indenture. For purposes of this Section
13.12, such compliance shall be determined without regard to any period of grace or requirement of notice provided under this Indenture.
If the officer of the Company signing such certificate has knowledge of such a Default or Event of Default, the certificate shall
describe any such Default or Event of Default and its status.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase"></FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase">Article
XIV.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in">SUBORDINATION OF SECURITIES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">Section 14.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Subordination
Terms</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The payment by the Company of the principal
of, premium, if any, and interest on any series of Securities issued hereunder shall be subordinated to the extent set forth in
an indenture supplemental hereto relating to such Securities.</P>

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


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    <!-- Field: /Page -->

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&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">LEXINGTON REALTY TRUST</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%">By:&nbsp;&nbsp;</TD>
    <TD STYLE="width: 45%; border-bottom: Black 1pt solid">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Name:</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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;],</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">as Trustee</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>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Name:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Title:</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 54 -->
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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: bottom; width: 82%"><B>Section of Trust </B></TD>
    <TD STYLE="vertical-align: top; width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 16%; text-align: center"><B>Section of</B></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid"><B>Indenture Act of 1939, as amended</B></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center"><B>Indenture</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>310(a)</TD>
    <TD>&nbsp;</TD>
    <TD>7.09</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>310(b)</TD>
    <TD>&nbsp;</TD>
    <TD>7.08</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>7.10</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>310(c)</TD>
    <TD>&nbsp;</TD>
    <TD>Inapplicable</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>311(a)</TD>
    <TD>&nbsp;</TD>
    <TD>7.13</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>311(b)</TD>
    <TD>&nbsp;</TD>
    <TD>7.13</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>311(c)</TD>
    <TD>&nbsp;</TD>
    <TD>Inapplicable</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>312(a)</TD>
    <TD>&nbsp;</TD>
    <TD>5.01</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>5.02(a)</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>312(b)</TD>
    <TD>&nbsp;</TD>
    <TD>5.02(c)</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>312(c)</TD>
    <TD>&nbsp;</TD>
    <TD>5.02(d)</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>313(a)</TD>
    <TD>&nbsp;</TD>
    <TD>5.04(a)</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>313(b)</TD>
    <TD>&nbsp;</TD>
    <TD>5.04(b)</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>313(c)</TD>
    <TD>&nbsp;</TD>
    <TD>5.04(a)</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>5.04(b)</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>313(d)</TD>
    <TD>&nbsp;</TD>
    <TD>5.04(c)</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>314(a)</TD>
    <TD>&nbsp;</TD>
    <TD>5.03</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>13.12</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>314(b)</TD>
    <TD>&nbsp;</TD>
    <TD>Inapplicable</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>314(c)</TD>
    <TD>&nbsp;</TD>
    <TD>13.07(a)</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>314(d)</TD>
    <TD>&nbsp;</TD>
    <TD>Inapplicable</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>314(e)</TD>
    <TD>&nbsp;</TD>
    <TD>13.07(b)</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>314(f)</TD>
    <TD>&nbsp;</TD>
    <TD>Inapplicable</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>315(a)</TD>
    <TD>&nbsp;</TD>
    <TD>7.01(a)</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>7.01(b)</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>315(b)</TD>
    <TD>&nbsp;</TD>
    <TD>7.14</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>315(c)</TD>
    <TD>&nbsp;</TD>
    <TD>7.01(a)</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>315(d)</TD>
    <TD>&nbsp;</TD>
    <TD>7.01(b)</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>315(e)</TD>
    <TD>&nbsp;</TD>
    <TD>6.07</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>316(a)</TD>
    <TD>&nbsp;</TD>
    <TD>6.06</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>8.04</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>316(b)</TD>
    <TD>&nbsp;</TD>
    <TD>6.04</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>316(c)</TD>
    <TD>&nbsp;</TD>
    <TD>8.01</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>317(a)</TD>
    <TD>&nbsp;</TD>
    <TD>6.02</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>317(b)</TD>
    <TD>&nbsp;</TD>
    <TD>4.03</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>318(a)</TD>
    <TD>&nbsp;</TD>
    <TD>13.09</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Cross-Reference Table does not constitute part of the Indenture and shall not have any bearing on the interpretation of any of
its terms or provisions.</P>

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

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

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<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>3
<FILENAME>tv486103_ex5-1.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit 5.1</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"><IMG SRC="tv486103_ex5-1logo.jpg" ALT="">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">February 27, 2018</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">One Penn Plaza, Suite 4015</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">New York, NY 10119</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">Re:</TD><TD>Lexington Realty Trust &ndash; Registration Statement on Form S-3</TD></TR></TABLE>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">We have acted as counsel
to Lexington Realty Trust, a Maryland real estate investment trust (the &ldquo;<U>Company</U>&rdquo;), in connection with the registration
statement on Form S-3 (the &ldquo;<U>Registration Statement</U>&rdquo;) to be filed with the Securities and Exchange Commission
(the &ldquo;<U>Commission</U>&rdquo;) by the Company on the date hereof under the Securities Act of 1933, as amended (the &ldquo;<U>Act</U>&rdquo;),
including the prospectus included therein (the &ldquo;<U>Prospectus</U>&rdquo;). The Registration Statement relates to the issuance
and sale by the Company from time to time, pursuant to Rule 415 of the rules and regulations promulgated under the Act, of an unspecified
amount of securities of the Company, consisting of: (i) shares of beneficial interest classified as common stock, par value $0.0001
per share, of the Company (the &ldquo;<U>Common Stock</U>&rdquo;); (ii) shares of beneficial interest classified as preferred stock,
par value $0.0001 per share, of the Company, to be issued in one or more series (the &ldquo;<U>Preferred Stock</U>&rdquo;); (iii)
shares of Preferred Stock represented by depositary shares (&ldquo;<U>Depositary Shares</U>&rdquo;) evidenced by depositary receipts
(&ldquo;<U>Receipts</U>&rdquo;), which may be issued pursuant to one or more deposit agreements (each, a &ldquo;<U>Deposit Agreement</U>&rdquo;)
to be entered into between the Company and a depositary to be named (the &ldquo;<U>Depositary</U>&rdquo;); (iv) senior debt securities
or subordinated debt securities (the &ldquo;<U>Debt Securities</U>&rdquo;) to be issued in one or more series under the indenture
(the &ldquo;<U>Senior Indenture</U>&rdquo;), dated as of May&nbsp;9, 2014, among the Company, Lepercq Corporate Income Fund L.P.
and U.S. Bank as trustee (the &ldquo;<U>Senior Trustee</U>&rdquo;) or the subordinated indenture (the &ldquo;<U>Subordinated Indenture</U>,&rdquo;
and together with the Senior Indenture, the &ldquo;<U>Indentures</U>&rdquo;) proposed to be entered into between the Company and
a trustee to be named (with the Senior Trustee, the &ldquo;<U>Trustees</U>&rdquo; and each, a &ldquo;<U>Trustee</U>&rdquo;); (v)
guarantees of the Debt Securities (the &ldquo;<U>Subsidiary Guarantees</U>&rdquo;) by one or more subsidiaries of the Company (a
&ldquo;<U>Subsidiary Guarantor</U>&rdquo;), including Lepercq Corporate Income Fund L.P., a Delaware limited partnership (&ldquo;<U>LCIF</U>&rdquo;),
for the benefit of Debt Securities; (vi) warrants (the &ldquo;<U>Warrants</U>&rdquo;) to purchase debt or equity securities of
the Company described in the Registration Statement as shall be designated by the Company at the time of the offering issued pursuant
to one or more warrant agreements (each, a &ldquo;<U>Warrant Agreement</U>&rdquo;) proposed to be entered into between the Company
and warrant agents to be named (each, a &ldquo;<U>Warrant Agent</U>&rdquo;); (vii) subscription rights (the &ldquo;<U>Subscription
Rights</U>&rdquo;) to purchase debt or equity securities of the Company, which may be issued under one or more subscription rights
certificates (each, a &ldquo;<U>Subscription Rights Certificate</U>&rdquo;) and/or pursuant to one or more subscription rights
agreements (each a &ldquo;<U>Subscription Rights Agreement</U>&rdquo;) proposed to be entered into between the Company and subscription
agents to be named (each, a &ldquo;<U>Subscription Agent</U>&rdquo;); and (viii) units (the &ldquo;<U>Units</U>&rdquo;) consisting
of any of the Common Stock, Preferred Stock, Depositary Shares, Debt Securities, Warrants, Subscription Rights or any combination
of such securities. The Common Stock, Preferred Stock, Depositary Shares, Debt Securities, Subsidiary Guarantees, Warrants, Subscription
Rights and Units are collectively referred to herein as the &ldquo;<U>Offered Securities</U>.&rdquo; The Registration Statement
provides that the Offered Securities may be offered from time to time in amounts, at prices and on terms to be set forth in one
or more supplements to the Prospectus (each, a &ldquo;<U>Prospectus Supplement</U>&rdquo;). This opinion is being delivered in
accordance with the requirements of Item 601(b)(5) of Regulation S-K under the Act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><IMG SRC="tv486103_ex5-1img1.jpg" ALT="">&nbsp;</P>

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


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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">February 27, 2018</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Page 2</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As such counsel and for purposes of our opinions
set forth below, we have examined originals or copies, certified or otherwise identified to our satisfaction, of such documents,
corporate and limited partnership records, certificates of public officials and other instruments as we have deemed necessary or
appropriate as a basis for the opinions set forth herein, including, without limitation:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(i)</TD><TD STYLE="text-align: justify">the Registration Statement;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(ii)</TD><TD STYLE="text-align: justify">the Senior Indenture;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(iii)</TD><TD STYLE="text-align: justify">the form of the Subordinated Indenture;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(iv)</TD><TD STYLE="text-align: justify">the certificate of limited partnership of LCIF, certified as of February 21, 2018 by the
Secretary of State of the State of Delaware, and the limited partnership agreement of LCIF as presently in effect, as certified
by the Secretary of Lex GP-1 Trust, as the general partner of LCIF (the &ldquo;<U>General Partner</U>&rdquo;), as of the date hereof;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(v)</TD><TD STYLE="text-align: justify">a certificate of the Secretary of State of the State of Delaware as to the formation and good standing
of LCIF under the laws of the State of Delaware as of February 16, 2018; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(vi)</TD><TD STYLE="text-align: justify">the unanimous written consents of the board of trustees of each of the Company and the General
Partner, dated as of February 22, 2018, relating to the registration of the Offered Securities and related matters.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In addition to the foregoing, we have made
such investigations of law as we have deemed necessary or appropriate as a basis for the opinions set forth herein.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In such examination and in rendering the opinions
expressed below, we have assumed: (i) that the Company is a real estate investment trust duly formed and existing by virtue of
the laws of the State of Maryland and is in good standing with the State Department of Assessments and Taxation of Maryland; (ii)
the due authorization, execution and delivery of all agreements, instruments, and other documents by all the parties thereto; (iii)
the genuineness of all signatures on all documents submitted to us; (iv) the authenticity and completeness of all documents, corporate
and limited partnership records, certificates and other instruments submitted to us; (v) that photocopy, electronic, certified,
conformed, facsimile and other copies submitted to us of original documents, corporate and limited partnership records, certificates
and other instruments conform to the original documents, records, certificates and other instruments, and that all such original
documents, corporate and limited partnership records, certificates and other instruments were authentic and complete; (vi) the
legal capacity and competency of all individuals executing documents; (vii) that no documents submitted to us have been amended
or terminated orally or in writing except as has been disclosed to us in writing; (viii) that the statements contained in the certificates
and comparable documents of public officials, officers and representatives of the Company, LCIF, the General Partner and other
persons on which we have relied for the purposes of this opinion letter are true and correct; (ix) that the execution, delivery
and performance by the Company of the Senior Indenture do not constitute a breach or violation of any agreement or instrument that
is binding upon the Company or its charter or bylaws; (x) that each of the officers and members of the board of trustees of the
Company and the General Partner has properly exercised his or her fiduciary duties; (xi) that New York law will be chosen to govern
the Debt Securities, the Subsidiary Guarantees, the Indentures, the Warrants, the Warrant Agreements, the Depositary Shares, the
Deposit Agreements, the Subscription Rights, the Subscription Rights Agreements and the Units and that such choice is legally enforceable,
and that the Debt Securities, the Subsidiary Guarantees, the Indentures, the Warrants, the Warrant Agreements, the Depositary Shares,
the Deposit Agreements, the Subscription Rights, the Subscription Rights Agreements and the Units will contain all provisions required
under the laws of the State of Maryland in respect of contracts for the sale of securities issued by a Maryland real estate investment
trust; (xii) that there are no agreements or understandings between or among the parties to the Debt Securities, the Subsidiary
Guarantees, the Indentures, the Warrants, the Warrant Agreements, the Depositary Shares, the Deposit Agreements, the Subscription
Rights, the Subscription Rights Agreements or the Units that would expand, modify or otherwise affect the terms of such agreements
or instruments or the respective rights or obligations of the parties thereunder; (xiii) at the time of execution, authentication
or countersignature, issuance and delivery of any Offered Securities, each of the Deposit Agreements, Subordinated Indenture (including
any supplemental indentures thereto), Warrant Agreements, Subscription Rights Agreements and unit agreements (collectively, the
&ldquo;<U>Securities Agreements</U>&rdquo;) will be, and in the case of the Senior Indenture, is, the valid and legally binding
obligation of all parties thereto other than the Company; and (xiv) that the Debt Securities, the Subsidiary Guarantees, the Indentures,
the Warrants, the Warrant Agreements, the Depositary Shares, the Deposit Agreements, the Subscription Rights, the Subscription
Rights Agreements and the Units will conform to the descriptions thereof set forth in the Prospectus. As to all questions of fact
material to this opinion letter, we have relied (without independent investigation) upon certificates or comparable documents of
officers and representatives of the Company and LCIF.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><IMG SRC="tv486103_ex5-1img2.jpg" ALT="">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">February 27, 2018</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Page 3</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Based upon the foregoing, and in reliance thereon,
and subject to the limitations, assumptions, qualifications and exceptions set forth herein, we are of the following opinion:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With
respect to any series of Debt Securities to be offered by the Company pursuant to the Registration Statement (the &ldquo;<U>Offered
Debt Securities</U>&rdquo;), when (i) the Registration Statement, as finally amended (including all necessary post-effective amendments),
has become effective under the Act and the Indentures and any supplemental indentures have been qualified under the Trust Indenture
Act of 1939, as amended (the &ldquo;<U>Trust Indenture Act</U>&rdquo;); (ii) a Prospectus Supplement or term sheet with respect
to the Offered Debt Securities has been prepared, delivered and filed in compliance with the Act and the applicable rules and regulations
thereunder; (iii) if the Offered Debt Securities are to be sold pursuant to a firm commitment underwritten offering, the underwriting
agreement with respect to the Offered Debt Securities has been duly authorized, executed and delivered by the Company and the other
parties thereto; (iv) the board of trustees of the Company, including any appropriate committee thereof appointed thereby, and
appropriate officers of the Company have taken all necessary corporate or limited partnership, as the case may be, action to approve
the issuance and terms of the Offered Debt Securities and related matters; (v) the Indentures and any supplemental indenture to
be entered into in connection with the issuance of the Offered Debt Securities have been duly authorized, executed and delivered
by each party thereto; (vi) the terms of the Offered Debt Securities and of their issuance and sale have been duly established
in conformity with the Indentures and any applicable supplemental indentures so as not to violate any applicable law, the Declaration
of Trust of the Company as then in effect (the &ldquo;<U>Charter</U>&rdquo;) or the Amended and Restated By-laws of the Company
as then in effect (the &ldquo;<U>By-laws</U>&rdquo;), or result in a default under or breach of any agreement or instrument binding
upon the Company and so as to comply with any requirement or restriction imposed by any court or governmental body having jurisdiction
over the Company; and (vii) the Offered Debt Securities have been issued in a form that complies with the Indentures and have been
duly executed and authenticated in accordance with the provisions of the Indentures and any applicable supplemental indenture to
be entered into in connection with the issuance of the Offered Debt Securities and duly delivered to the purchasers thereof upon
payment of the agreed-upon consideration therefor in the manner contemplated in the Registration Statement or any Prospectus Supplement
or term sheet relating thereto, the Offered Debt Securities (including any Debt Securities duly issued upon conversion, exchange
or exercise of any Debt Securities, Preferred Stock or Warrants), when issued and sold in accordance with the Indentures and any
applicable supplemental indenture to be entered into in connection with the issuance of the Debt Securities and the applicable
underwriting agreement, if any, or any other duly authorized, executed and delivered valid and binding purchase or agency agreement,
will constitute the valid and binding obligations of the Company, enforceable against the Company in accordance with their respective
terms.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">February 27, 2018</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Page 4</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With
respect to any series of Subsidiary Guarantees to be offered by one or more Subsidiary Guarantors pursuant to the Registration
Statement (the &ldquo;<U>Offered Subsidiary Guarantees</U>&rdquo;), when (i) the Registration Statement, as finally amended (including
all necessary post-effective amendments), has become effective under the Act and the Indentures and any supplemental indentures
have been qualified under the Trust Indenture Act; (ii) a Prospectus Supplement or term sheet with respect to the Offered Subsidiary
Guarantees has been prepared, delivered and filed in compliance with the Act and the applicable rules and regulations thereunder;
(iii) if the Offered Subsidiary Guarantees are to be sold pursuant to a firm commitment underwritten offering, the underwriting
agreement with respect to the Offered Subsidiary Guarantees has been duly authorized, executed and delivered by the Company and
the other parties thereto; (iv) the board of directors (including any appropriate committee thereof appointed thereby) members,
managers or partners, as the case may be, and appropriate officers of the Subsidiary Guarantor have taken all necessary corporate
action to approve the issuance and terms of the Offered Subsidiary Guarantees and related matters; (v) the Indentures and any supplemental
indenture to be entered into in connection with the issuance of the Offered Subsidiary Guarantees have been duly authorized, executed
and delivered by each party thereto; (vi) the terms of the Offered Subsidiary Guarantees and of their issuance and sale have been
duly established in conformity with the Indentures and any applicable supplemental indentures so as not to violate any applicable
law, the organizational documents of the Subsidiary Guarantor, including any charter, bylaw, operating agreement or partnership
agreement, as then in effect, or result in a default under or breach of any agreement or instrument binding upon the Subsidiary
Guarantor and so as to comply with any requirement or restriction imposed by any court or governmental body having jurisdiction
over the Subsidiary Guarantor; and (vii) the Offered Subsidiary Guarantees have been issued in a form that complies with the Indentures
and have been duly executed and authenticated in accordance with the provisions of the Indentures and any applicable supplemental
indenture to be entered into in connection with the issuance of the Offered Subsidiary Guarantees and duly delivered to the purchasers
thereof upon payment of the agreed-upon consideration therefor in the manner contemplated in the Registration Statement or any
Prospectus Supplement or term sheet relating thereto, the Offered Subsidiary Guarantees (including any Subsidiary Guarantees duly
issued upon conversion, exchange or exercise of any Debt Securities, Preferred Stock or Warrants), when issued and sold in accordance
with the Indentures and any applicable supplemental indenture to be entered into in connection with the issuance of the Subsidiary
Guarantees and the applicable underwriting agreement, if any, or any other duly authorized, executed and delivered valid and binding
purchase or agency agreement, will be duly authorized or issuance and constitute the valid and binding obligations of the Subsidiary
Guarantor or Guarantors, enforceable against the Subsidiary Guarantor or Guarantors in accordance with their respective terms.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><IMG SRC="tv486103_ex5-1img2.jpg" ALT="">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">February 27, 2018</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Page 5</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With
respect to any series of Warrants to be offered by the Company pursuant to the Registration Statement (the &ldquo;<U>Offered Warrants</U>&rdquo;),
when (i) the Registration Statement, as finally amended (including all necessary post-effective amendments), has become effective
under the Act and any Indentures and supplemental indentures to be entered into in connection with the issuance of any Debt Securities
related to such Offered Warrants have been qualified under the Trust Indenture Act; (ii) a Prospectus Supplement or term sheet
with respect to the Offered Warrants has been prepared, delivered and filed in compliance with the Act and the applicable rules
and regulations thereunder; (iii) if the Offered Warrants are to be sold pursuant to a firm commitment underwritten offering, the
underwriting agreement with respect to the Offered Warrants has been duly authorized, executed and delivered by the Company and
the other parties thereto; (iv) the board of trustees of the Company, including any appropriate committee thereof appointed thereby,
and appropriate officers of the Company have taken all necessary corporate action to approve the issuance and terms of the Offered
Warrants and related matters; (v) the Warrant Agreement entered into in connection with the issuance of the Offered Warrants and
any Indentures and supplemental indentures to be entered into in connection with the issuance of any Debt Securities related to
such Offered Warrants have been duly authorized, executed and delivered by each party thereto; (vi) the terms of the Offered Warrants
and any Debt Securities related to such Offered Warrants and of their issuance and sale have been duly established in conformity
with the applicable Warrant Agreement and Indentures and any supplemental indentures so as not to violate any applicable law, the
Charter or the By-laws or result in a default under or breach of any agreement or instrument binding upon the Company and so as
to comply with any requirement or restriction imposed by any court or governmental body having jurisdiction over the Company; (vii)
the Common Stock or the Preferred Stock relating to the Offered Warrants have been duly authorized for issuance; (viii) the Debt
Securities relating to the Offered Warrants have been duly executed and authenticated in accordance with the provisions of the
Indentures and any applicable supplemental indenture thereto; and (ix) the Offered Warrants have been duly executed, delivered,
countersigned, issued and sold in accordance with the provisions of the applicable Warrant Agreement, the Offered Warrants (including
any Warrants duly issued upon conversion, exchange or exercise of any Debt Securities or Preferred Stock), when issued and sold
in accordance with the applicable Warrant Agreement and the applicable underwriting agreement or any other duly authorized, executed
and delivered valid and binding purchase or agency agreement, will constitute the valid and binding obligations of the Company,
enforceable against the Company in accordance with their respective terms.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With
respect to Depositary Shares to be offered by the Company pursuant to the Registration Statement (the &ldquo;<U>Offered Depositary
Shares</U>&rdquo;), when (i) the Registration Statement, as finally amended (including all necessary post-effective amendments),
has become effective under the Act; (ii) a Prospectus Supplement or term sheet with respect to the Offered Depositary Shares has
been prepared, delivered and filed in compliance with the Act and the applicable rules and regulations thereunder; (iii) if the
Offered Depositary Shares are to be sold pursuant to a firm commitment underwritten offering, the underwriting agreement with respect
to the Offered Depositary Shares has been duly authorized, executed and delivered by the Company and the other parties thereto;
(iv) the board of trustees of the Company, including any appropriate committee thereof appointed thereby, and appropriate officers
of the Company have taken all necessary corporate action to approve the issuance and terms of the Offered Depositary Shares and
the related series of Preferred Stock, the applicable Deposit Agreement and related matters, including the adoption of articles
supplementary for such related series of Preferred Stock in the form required by Maryland law; (v) the Deposit Agreement to be
entered into in connection with the issuance of the Offered Depositary Shares has been duly authorized, executed and delivered
by each party thereto; (vi) articles supplementary for the related series of Preferred Stock have been duly filed with the State
Department of Assessments and Taxation of Maryland; (vii) the terms of the Offered Depositary Shares and Preferred Stock and of
their issuance and sale have been duly established in conformity with the applicable Deposit Agreement and the Charter so as not
to violate any applicable law, the Charter or By-laws or result in a default under or breach of any agreement or instrument binding
upon the Company and so as to comply with any requirement or restriction imposed by any court or governmental body having jurisdiction
over the Company; (viii) the Preferred Stock relating to the Offered Depositary Shares has been duly authorized for issuance; (ix)
the Offered Depositary Shares have been duly executed, delivered, countersigned, issued and sold in accordance with the provisions
of the applicable Deposit Agreement, and the Offered Depositary Shares and the related shares of Preferred Stock have been delivered
to the Depositary for deposit in accordance with the applicable Deposit Agreement; and (x) the Receipts evidencing the Offered
Depositary Shares have been duly issued against deposit of the related shares of Preferred Stock with the Depositary in accordance
with the applicable Deposit Agreement, such Deposit Agreement will constitute the valid and binding obligation of the Company,
enforceable against the Company in accordance with its terms.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><IMG SRC="tv486103_ex5-1img2.jpg" ALT="">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">February 27, 2018</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Page 6</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With
respect to Subscription Rights to be offered by the Company pursuant to the Registration Statement (the &ldquo;<U>Offered Subscription
Rights</U>&rdquo;), when (i) the Registration Statement, as finally amended (including all necessary post-effective amendments),
has become effective under the Act and any Indentures and supplemental indentures to be entered into in connection with the issuance
of any Debt Securities related to such Offered Subscription Rights have been qualified under the Trust Indenture Act; (ii) a Prospectus
Supplement or term sheet with respect to the Offered Subscription Rights has been prepared, delivered and filed in compliance with
the Act and the applicable rules and regulations thereunder; (iii) if the Offered Subscription Rights are to be sold pursuant to
a firm commitment underwritten offering, the underwriting agreement with respect to the Offered Subscription Rights has been duly
authorized, executed and delivered by the Company and the other parties thereto; (iv) the board of trustees of the Company, including
any appropriate committee thereof appointed thereby, and appropriate officers of the Company have taken all necessary corporate
action to approve the issuance and terms of the Offered Subscription Rights and related matters, including setting forth the terms
of the Subscription Rights in a Subscription Rights Certificate and/or Subscription Rights Agreement and the adoption of articles
supplementary for such related series of Preferred Stock in the form required by Maryland law; (v) the Subscription Agreement to
be entered into in connection with the issuance of the Offered Subscription Rights and any Indentures and supplemental indentures
to be entered into in connection with the issuance of any Debt Securities related to such Offered Subscription Rights have been
duly authorized, executed and delivered by each party thereto; (vi) any articles supplementary for any related series of Preferred
Stock have been duly filed with the State Department of Assessments and Taxation of Maryland; (vii) the terms of the Offered Subscription
Rights and any Debt Securities related to such Offered Subscription Rights and of their issuance and sale have been duly established
by the Company and the applicable Subscription Agent in conformity with the applicable Subscription Rights Agreement and Subscription
Rights Certificate and Indentures and any supplemental indentures so as not to violate any applicable law, the Charter or By-laws
or result in a default under or breach of any agreement or instrument binding upon the Company and so as to comply with any requirement
or restriction imposed by any court or government body having jurisdiction over the Company; (viii) the Common Stock or the Preferred
Stock relating to the Offered Subscription Rights have been duly authorized for issuance; (ix) the Debt Securities relating to
the Offered Subscription Rights have been duly executed and authenticated in accordance with the provisions of the Indentures and
any applicable supplemental indenture thereto; and (x) the Offered Subscription Rights have been duly executed, delivered, countersigned,
issued and sold in accordance with the provisions of the applicable Subscription Rights Agreement and the Subscription Rights Certificate,
the Offered Subscription Rights, when issued and sold in accordance with the applicable Subscription Rights Agreement, Subscription
Rights Certificate and the applicable purchase agreement or any other duly authorized, executed and delivered valid and binding
purchase or agency agreement, will constitute the valid and binding obligations of the Company, enforceable against the Company
in accordance with their respective terms.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><IMG SRC="tv486103_ex5-1img2.jpg" ALT="">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">February 27, 2018</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Page 7</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With
respect to any series of Units to be offered by the Company pursuant to the Registration Statement (the &ldquo;<U>Offered Units&rdquo;),</U>
when (i) the Registration Statement, as finally amended (including all necessary post-effective amendments), has become effective
under the Act and any Indentures and supplemental indentures to be entered into in connection with the issuance of any Debt Securities
related to such Offered Units have been qualified under the Trust Indenture Act; (ii) a Prospectus Supplement or term sheet with
respect to the Offered Units has been prepared, delivered and filed in compliance with the Act and the applicable rules and regulations
thereunder; (iii) if the Offered Units are to be sold pursuant to a firm commitment underwritten offering, the underwriting agreement
with respect to the Offered Units has been duly authorized, executed and delivered by the Company and the other parties thereto;
(iv) the board of trustees of the Company, including any appropriate committee thereof appointed thereby, and appropriate officers
of the Company have taken all necessary corporate action to approve the issuance and terms of the Offered Units and related matters;
(v) the unit agreement entered into in connection with the issuance of the Offered Units and any Indentures and supplemental indentures
to be entered into in connection with the issuance of any Debt Securities related to such Offered Units have been duly authorized,
executed and delivered by each party thereto; (vi) the terms of the Offered Units and any Debt Securities related to such Offered
Units and of their issuance and sale have been duly established in conformity with the applicable unit agreement and Indentures
and any supplemental indentures so as not to violate any applicable law, the Charter or By-laws or result in a default under or
breach of any agreement or instrument binding upon the Company and so as to comply with any requirement or restriction imposed
by any court or governmental body having jurisdiction over the Company; (vii) the Common Stock or the Preferred Stock relating
to the Offered Units have been duly authorized for issuance; (viii) the Debt Securities relating to the Offered Units have been
duly executed and authenticated in accordance with the provisions of the Indentures and any applicable supplemental indenture thereto;
and (ix) the Offered Units have been duly executed, delivered, countersigned, issued and sold in accordance with the provisions
of the applicable unit agreement, the Offered Units (including any Units duly issued upon conversion, exchange or exercise of any
Debt Securities or Preferred Stock), when issued and sold in accordance with the applicable unit agreement and the applicable underwriting
agreement or any other duly authorized, executed and delivered valid and binding purchase or agency agreement, will constitute
the valid and binding obligations of the Company, enforceable against the Company in accordance with their respective terms.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The opinions expressed herein are subject to
the following exceptions, qualifications and limitations:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;They
are limited by the effect of (a) any applicable bankruptcy, insolvency, reorganization, moratorium or similar law and principles
affecting creditors' rights generally, including without limitation fraudulent transfer or fraudulent conveyance laws and (b) general
principles of equity (including, without limitation, concepts of materiality, reasonableness, good faith and fair dealing) and
the availability of equitable remedies (including, without limitation, specific performance and equitable relief), regardless of
whether considered in a proceeding in equity or at law.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With
reference to, but without limiting in any way, qualification (A) above, certain provisions which could be construed as a penalty
or forfeiture, provisions indemnifying a party against liability for its own wrongful or negligent acts or otherwise in cases where
indemnification could be considered contrary to public policy (including, without limitation, under federal and state securities
laws and regulations as interpreted by applicable governmental authorities), provisions exculpating another party from liability
or waiving defenses or other rights, provisions to the effect that terms of the documents may not be waived or modified except
in writing, provisions regarding the recovery of attorneys&rsquo; fees for a person who is not the prevailing party in a final
proceeding, provisions imposing a payment obligation with respect to the Company's obligations and provisions whereby a party purports
to ratify acts in advance of the occurrence of such acts, are or may be unenforceable in whole or in part under applicable law.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
opinion is expressed herein with respect to (i) the validity or enforceability of any provision contained in the Offered Securities
allowing any party to exercise any remedial rights without notice to the Company, (ii) the validity or enforceability of any waiver
of demand by the Company, or any waiver of any rights or any defense which as a matter of law or public policy cannot be waived,
(iii) the validity or enforceability of any provisions contained in the Offered Securities purporting to establish evidentiary
standards, (iv) the validity or enforceability of any provision of the Offered Securities which purports to establish the subject
matter jurisdiction of the United States District Court to adjudicate any controversy related to any of the Offered Securities,
(v) the validity or enforceability of any provision of the Offered Securities which purports to entitle any person or entity to
specific performance of any provision thereof, (vi) the validity or enforceability of any provision of the Offered Securities that
requires a person or entity to cause another person or entity to take or to refrain from taking action under circumstances in which
such person or entity does not control such other person or entity, (vii) the validity or enforceability of any provision of the
Offered Securities insofar as it purports to effect a choice of governing law or choice of forum for the adjudication of disputes
or (viii) the effectiveness of service of process by mail in any suit, action or proceeding of any nature arising in connection
with or in any way relating to any Offered Security.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><IMG SRC="tv486103_ex5-1img2.jpg" ALT="">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">February 27, 2018</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Page 8</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">D.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition, we express no opinion as to the acceptance by a Federal court located in the State of New York of jurisdiction of a dispute
arising under the Offered Securities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">E.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
opinion is expressed as to the validity or enforceability of any provision of any Offered Security that (i) requires that waivers
or amendments must be in writing in so far as it suggests that oral or other modifications, amendments or waivers could not be
effectively agreed upon by the parties or that the doctrine of promissory estoppel might not apply; (ii) waives (a) vague or broadly
stated rights, (b) future rights, (c) the benefits of statutory, regulatory or constitutional rights, unless and to the extent
that the statute, regulation or constitution expressly allows waiver, (d) unknown future defenses, or (e) rights to damages; (iii)
states that rights or remedies are not exclusive, that every right or remedy is cumulative and may be exercised in addition to
any other right or remedy, that the election of some particular remedy does not preclude recourse to one or more others or that
failure to exercise or delay in exercising rights or remedies will not operate as a waiver of any such right or remedy; (iv) imposes
penalties, forfeitures, late payment charges or an increase in interest rate upon delinquency in payment or the occurrence of a
default; (v) appoints one party as an attorney-in-fact for an adverse party; or (vi) states that time is of the essence.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Without limiting any of
the other limitations, exceptions, assumptions and qualifications stated elsewhere herein, we express no opinion with regard to
the applicability or effect of the law of any jurisdiction other than, as in effect on the date of this letter, the internal laws
of the State of New York.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">This opinion letter deals only with the specified
legal issues expressly addressed herein, and you should not infer any opinion that is not explicitly addressed herein from any
matter stated in this opinion letter.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We hereby consent to the filing of this opinion
letter with the Commission as Exhibit 5.1 to the Registration Statement and to the reference to our firm&rsquo;s name under the
heading &ldquo;Legal Matters&rdquo; in the related Prospectus. In giving this consent, we do not thereby admit that we are within
the category of persons whose consent is required under Section 7 of the Act or the rules and regulations of the Commission promulgated
thereunder. This opinion letter is expressed as of the date hereof unless otherwise expressly stated, and we disclaim any undertaking
to advise you of any subsequent changes in the facts stated or assumed herein or of any subsequent changes in applicable laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&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="width: 50%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 50%; text-align: justify">Very truly yours,</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Paul Hastings LLP</TD></TR>
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<DOCUMENT>
<TYPE>EX-5.2
<SEQUENCE>4
<FILENAME>tv486103_ex5-2.htm
<DESCRIPTION>EXHIBIT 5.2
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 5.2</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>[LETTERHEAD OF VENABLE LLP]</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">February 27, 2018</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Lexington Realty Trust<BR>
One Penn Plaza, Suite 4015<BR>
New York, NY 10119</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in; text-align: left">Re:</TD><TD STYLE="text-align: justify"><U>Registration Statement on Form S-3</U></TD>
</TR></TABLE>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">We have served as Maryland counsel to Lexington
Realty Trust, a Maryland real estate investment trust (the &ldquo;Company&rdquo;), in connection with certain matters of Maryland
law relating to the registration of securities (collectively, the &ldquo;Securities&rdquo;) of the Company consisting of: (i) shares
of beneficial interest, par value $.0001 per share, classified as common stock (the &ldquo;Common Shares&rdquo;); (ii) shares of
beneficial interest, par value $.0001 per share, classified as preferred stock (the &ldquo;Preferred Shares&rdquo;); (iii) senior
or subordinated debt securities (the &ldquo;Debt Securities&rdquo;); (iv) depositary shares (the &ldquo;Depositary Shares&rdquo;),
each representing a fraction of a Preferred Share; (v) warrants (&ldquo;Warrants&rdquo;); (vi) subscription rights (&ldquo;Rights&rdquo;)
to purchase Common Shares; and (vii) units that include any of the Securities (&ldquo;Units&rdquo;), each covered by the Registration
Statement on Form S-3, and all amendments thereto (the &ldquo;Registration Statement&rdquo;), as filed with the United States Securities
and Exchange Commission (the &ldquo;Commission&rdquo;) by the Company on or about the date hereof under the Securities Act of 1933,
as amended (the &ldquo;Act&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">In connection with our representation of the Company,
and as a basis for the opinion hereinafter set forth, we have examined originals, or copies certified or otherwise identified to
our satisfaction, of the following documents (hereinafter collectively referred to as the &ldquo;Documents&rdquo;):</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Registration Statement and the related form of prospectus included therein in the form in which it was transmitted to the Commission
under the Act;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
declaration of trust of the Company (the &ldquo;Declaration&rdquo;), certified by the State Department of Assessments and Taxation
of Maryland (the &ldquo;SDAT&rdquo;);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Amended and Restated Bylaws of the Company, as amended through the date hereof (the &ldquo;Bylaws&rdquo;), certified as of the
date hereof by an officer of the Company;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
certificate of the SDAT as to the good standing of the Company, dated as of a recent date;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Resolutions
(the &ldquo;Resolutions&rdquo;) adopted by the Board of Trustees of the Company (the &ldquo;Board&rdquo;), or a duly authorized
committee thereof, relating to the Securities, certified as of the date hereof by an officer of the Company;</P>

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


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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">February 27, 2018</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Page 2</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
certificate executed by an officer of the Company, dated as of the date hereof; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Such
other documents and matters as we have deemed necessary or appropriate to express the opinion set forth below, subject to the assumptions,
limitations and qualifications stated herein.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">In expressing the opinion set forth below, we
have assumed the following:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
individual executing any of the Documents, whether on behalf of such individual or another person, is legally competent to do so.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
individual executing any of the Documents on behalf of a party (other than the Company) is duly authorized to do so.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
of the parties (other than the Company) executing any of the Documents has duly and validly executed and delivered each of the
Documents to which such party is a signatory, and the obligations of such party set forth therein are legal, valid and binding
and are enforceable in accordance with all stated terms.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
Documents submitted to us as originals are authentic. The form and content of all Documents submitted to us as unexecuted drafts
do not differ in any respect relevant to this opinion from the form and content of such Documents as executed and delivered. All
Documents submitted to us as certified or photostatic copies conform to the original documents. All signatures on all Documents
are genuine. All public records reviewed or relied upon by us or on our behalf are true and complete. All representations, warranties,
statements and information contained in the Documents are true and complete. There has been no oral or written modification of
or amendment to any of the Documents, and there has been no waiver of any provision of any of the Documents, by action or omission
of the parties or otherwise.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Securities will not be issued or transferred in violation of any restriction contained in Article Ninth of the Declaration or any
comparable provision in the Articles Supplementary creating any class or series of Preferred Shares or the instrument or agreement
defining the terms of any other Securities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon
the issuance of any Securities (collectively, the &ldquo;Common Securities&rdquo;) that are (i) Common Shares, (ii) Common Shares
which may be issued upon conversion of any Preferred Shares convertible into Common Shares, (iii) Common Shares which may be issued
upon conversion or exchange of any Debt Securities convertible or exchangeable into Common Shares, or (iv) Common Shares which
may be issued as part of a Unit or upon the exercise of any of the Rights or Warrants, the total number of Common Shares issued
and outstanding will not exceed the number of Common Shares the Company is then authorized to issue under the Declaration.</P>

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


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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">February 27, 2018</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Page 3</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon
the issuance of any Securities (collectively, the &ldquo;Preferred Securities&rdquo;) that are (i) Preferred Shares, (ii) Preferred
Shares which may be issued upon conversion of any Preferred Shares of another class or series, (iii) Preferred Shares which may
be issued to underlie any Depositary Shares, (iv) Preferred Shares which may be issued upon conversion or exchange of any Debt
Securities convertible or exchangeable into Preferred Shares, or (v) Preferred Shares which may be issued as part of a Unit or
upon the exercise of any of the Warrants, the total number of Preferred Shares issued and outstanding, and the total number of
issued and outstanding shares of the applicable class or series of Preferred Shares designated pursuant to the Declaration, will
not exceed, respectively, the total number of shares of Preferred Shares or the number of shares of such class or series of Preferred
Shares that the Company is then authorized to issue under the Declaration.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
Securities convertible into or exercisable for any other Securities will be duly converted or exercised in accordance with their
terms.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
issuance, and certain terms, of the Securities to be issued by the Company from time to time will be authorized and approved by
the Board, or a duly authorized committee thereof, in accordance with the Maryland REIT Law, the Declaration, the Bylaws, the Registration
Statement and the Resolutions and, with respect to any Preferred Securities, Articles Supplementary setting forth the number of
shares and the terms of any class or series of Preferred Shares to be issued by the Company, will be filed with and accepted for
record by the SDAT prior to their issuance (such approvals and, if applicable, acceptance for record, referred to herein as the
&ldquo;Trust Proceedings&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">Based upon the foregoing, and subject to the assumptions,
limitations and qualifications stated herein, it is our opinion that:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company is a real estate investment trust duly formed and existing under and by virtue of the laws of the State of Maryland and
is in good standing with the SDAT.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon
the completion of all Trust Proceedings relating to the Common Securities, the Common Securities will be duly authorized for issuance
and, when and if issued and delivered against payment therefor in accordance with the Registration Statement, the Resolutions and
the Trust Proceedings, will be validly issued, fully paid and nonassessable.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon
the completion of all Trust Proceedings relating to the Preferred Securities, the Preferred Securities will be duly authorized
for issuance and, when and if issued and delivered against payment therefor in accordance with the Registration Statement, the
Resolutions and the Trust Proceedings, will be validly issued, fully paid and nonassessable.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon
the completion of all Trust Proceedings relating to the Debt Securities, the Debt Securities will be duly authorized for issuance.</P>

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


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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">February 27, 2018</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Page 4</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon
the completion of all Trust Proceedings relating to the Depositary Shares, the Depositary Shares will be duly authorized for issuance.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon
the completion of all Trust Proceedings relating to the Warrants, the Warrants will be duly authorized for issuance.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon
the completion of all Trust Proceedings relating to the Rights, the Rights will be duly authorized for issuance.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon
the completion of all Trust Proceedings relating to the Units, including all Trust Proceedings relating to the Securities sold
together as Units, the Units will be duly authorized for issuance.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">The foregoing opinion is limited to the laws of
the State of Maryland and we do not express any opinion herein concerning any other law. We express no opinion as to the applicability
or effect of any federal or state securities laws, including the securities laws of the State of Maryland, or as to federal or
state laws regarding fraudulent transfers. To the extent that any matter as to which our opinion is expressed herein would be governed
by the laws of any jurisdiction other than the State of Maryland, we do not express any opinion on such matter. The opinion expressed
herein is subject to the effect of judicial decisions which may permit the introduction of parol evidence to modify the terms or
the interpretation of agreements.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">The opinion expressed herein is limited to the
matters specifically set forth herein and no other opinion shall be inferred beyond the matters expressly stated. We assume no
obligation to supplement this opinion if any applicable law changes after the date hereof or if we become aware of any fact that
might change the opinion expressed herein after the date hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">This opinion is being furnished to you for submission
to the Commission as an exhibit to the Registration Statement. We hereby consent to the filing of this opinion as an exhibit to
the Registration Statement and to the use of the name of our firm therein. In giving this consent, we do not admit that we are
within the category of persons whose consent is required by Section 7 of the Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; 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="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%">Very truly yours,</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Venable LLP</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<TYPE>EX-8.1
<SEQUENCE>5
<FILENAME>tv486103_ex8-1.htm
<DESCRIPTION>EXHIBIT 8.1
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin-top: 0; text-align: right; margin-bottom: 0"><B>Exhibit 8.1</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">[Paul Hastings LLP letterhead]</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&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="width: 52%; font-size: 10pt">February 27, 2018</TD>
    <TD STYLE="width: 48%; text-align: right; font-size: 10pt">23062.00270</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">One Penn Plaza Suite 4015</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">New York, NY 10119</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">We have acted as counsel to Lexington Realty
Trust, a Maryland statutory real estate investment trust (the &ldquo;Company&rdquo;). In connection with the Form S-3 Registration
Statement (the &ldquo;Form S-3&rdquo;), filed with the Securities and Exchange Commission of the United States (the &ldquo;Commission&rdquo;)
by the Company on February 27, 2018, and the prospectus included therein (the &ldquo;Prospectus&rdquo; and together with the Form
S-3, the &ldquo;Registration Statement&rdquo;), the Company has requested our opinion concerning the qualification for federal
income tax purposes of the Company as a real estate investment trust (&ldquo;REIT&rdquo;) under the Internal Revenue Code of 1986,
as amended (the &ldquo;Code&rdquo;), as of the date hereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In connection with this opinion, we have examined
and relied upon those documents and such information that we have deemed appropriate, including but not limited to the following
materials:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD>the Registration Statement;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD>the Declaration of Trust of the Company, dated as of December 22, 1997, as amended to date;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD>the By-Laws of the Company, as amended to date; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD>the Officer&rsquo;s Certificate of the Company, dated as of the date hereof, and the Officer&rsquo;s Certificates of Concord
Debt Holdings LLC, a Delaware limited liability company, Concord Debt Funding Trust, a Maryland real estate investment trust, and
CDH CDO LLC, a Delaware limited liability company, dated as of January 11, 2013 (the &ldquo;Officer&rsquo;s Certificates&rdquo;).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.65pt 0 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.65pt 0 0.5in; text-indent: -0.5in">Lexington Realty Trust</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">February 27, 2018</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Page 2</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">We do not express any opinion concerning any
laws of states or jurisdictions other than the federal law of the United States of America. No opinion is expressed as to the effect
that the law of any other jurisdiction might have upon the subject matter of the opinion expressed herein under conflicts of laws
principles or otherwise.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Except for the opinion expressly set forth below,
we express no other opinions and no opinions should be implied or inferred. Our opinion is limited in all respects to laws and
facts existing on the date hereof. We disclaim any obligation to update the opinion expressed herein for events (including changes
of law or facts) occurring after the date hereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The opinion set forth below is subject to the
following additional assumptions, qualifications and limitations:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">A.</TD><TD>We have made such factual and legal inquiries, including examination of the documents set forth above, as we have deemed necessary
or appropriate for purposes of our opinion and after such inquiries, we are not aware of any material facts inconsistent with representations
made in the Officer&rsquo;s Certificates. As to matters of fact relevant to this opinion, we have relied without independent investigation
on, and assumed the accuracy and completeness of, the factual representations in the Officer&rsquo;s Certificates. We have not
made an investigation as to, and have not independently verified the facts underlying such representations or covered by the Officer&rsquo;s
Certificates. We have consequently relied upon the representations in each Officer&rsquo;s Certificate that the information presented
in such document or otherwise furnished to us accurately and completely describes all material facts relevant to our opinion. In
addition, to the extent that any of the representations provided to us in the Officer&rsquo;s Certificates are with respect to
matters set forth in the Code or Treasury Regulations thereunder, the individuals making such representations have reviewed with
us or other tax counsel the relevant portion of the Code and the applicable Regulations. With respect to the qualification and
taxation of Concord Debt Funding Trust as a REIT under the Code, for the period prior to and including December 31, 2006, we have
also assumed to be true and are expressly relying upon the opinion, dated December 21, 2006, delivered to Concord Debt Funding
Trust, among others, by Katten Muchin Rosenman LLP.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">B.</TD><TD>We have assumed that the Company, Concord Debt Holdings LLC, Concord Debt Funding Trust, and CDH CDO LLC have operated and
will continue to be operated in the manner described in the Officer&rsquo;s Certificates, the Registration Statement and the applicable
organizational documents and that all terms and provisions of such documents have been and will continue to be complied with.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">C.</TD><TD>We have assumed the genuineness of all signatures, the authenticity and completeness of all documents, certificates and instruments
submitted to us as originals, the conformity with the originals of all documents, certificates and instruments submitted to us
as copies and the legal capacity to sign of all individuals executing such documents, certificates and instruments.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">D.</TD><TD>We have assumed that there are no oral modifications or written agreements or understandings which limit, modify or otherwise
alter the terms, provisions, and conditions of, or relate to, the Registration Statement and the transactions contemplated therein.</TD></TR></TABLE>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.65pt 0 0.5in; text-indent: -0.5in">Lexington Realty Trust</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">February 27, 2018</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Page 3</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">E.</TD><TD>We express no opinion as to (1) the effect on the opinions expressed herein of the compliance or non-compliance of the Company
or any other party with any state, federal or other laws or regulations applicable to it and (2) the impact, if any, of dispositions,
if any, treated as prohibited transactions pursuant to Section 857 of the Code.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">F.</TD><TD>We have assumed that the Company will use the proceeds of any primary offerings pursuant to the Registration Statement as provided
therein.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">On the basis of the foregoing, and in reliance
thereon, subject to the limitations, qualifications and exceptions set forth herein, it is our opinion that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">1.</TD><TD>Commencing with its taxable year ended December 31, 1993, the Company has been organized and has operated in conformity with
the requirements for qualification as a REIT pursuant to Sections 856 through 860 of the Code, and the Company&rsquo;s current
and proposed method of operation will enable it to continue to meet the requirements for qualification and taxation as a REIT under
the Code; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">2.</TD><TD>The statements set forth in the Prospectus, under the caption entitled, &quot;United States Federal Income Tax Considerations,&quot;
insofar as they purport to summarize the legal matters referred to therein, are accurate summaries of such legal matters in all
material respects.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The above opinion is based on the Code, Treasury
Regulations promulgated thereunder, administrative pronouncements and judicial interpretations thereof, in each case as in effect
on the date hereof, all of which are subject to change. An opinion of counsel merely represents counsel&rsquo;s best judgment with
respect to the probable outcome on the merits and is not binding on the Internal Revenue Service or the courts. Accordingly, there
can be no assurance that the Internal Revenue Service will not take a contrary position, that the applicable law will not change,
or that any such change will not have retroactive effect. We assume no obligation to advise you of any changes in our opinion subsequent
to the delivery of this opinion letter. Moreover, the Company&rsquo;s qualification and taxation as a REIT depend upon the Company&rsquo;s
ability to meet, on a continuing basis, through actual annual operating and other results, the various requirements under the Code
with regard to, among other things, the sources of its gross income, the composition of its assets, the level of its distributions
to stockholders, and the diversity of its stock ownership. Paul Hastings LLP will not review the Company&rsquo;s compliance with
these requirements on a continuing basis. Accordingly, no assurance can be given that the actual results of the Company&rsquo;s
operations for any one taxable year will satisfy such requirements.</P>

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


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.65pt 0 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.65pt 0 0.5in; text-indent: -0.5in">Lexington Realty Trust</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">February 27, 2018</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Page 4</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Subject to the following sentence, this opinion
is being rendered to you for your sole use and may not be made available to or relied upon by any other person, firm or entity
without our express prior written consent. We hereby consent to the filing of this opinion as an exhibit to be incorporated by
reference into the Registration Statement and the reference to our firm name under the caption entitled, &ldquo;United States Federal
Income Tax Considerations,&rdquo; in the Prospectus. In giving such consent, we do not thereby admit that we are within the category
of persons whose consent is required under Section 7 of the Securities Act of 1933, as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; 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="width: 50%">Very truly yours,</TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Paul Hastings LLP</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<DOCUMENT>
<TYPE>EX-12.1
<SEQUENCE>6
<FILENAME>tv486103_ex12-1.htm
<DESCRIPTION>EXHIBIT 12.1
<TEXT>
<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd">
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  <head>
    <title>tv486103-s3asr_DIV_11-exh12x1 - none - 1.098675s</title>
  </head>
  <body style="width:595.31pt;">
    <div style="page-break-after:always; width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">&#8203;</div>
      <div style="margin-top:46pt;margin-bottom:49.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:6pt; text-align:right; width:456pt; line-height:12pt;font-weight:bold;">Exhibit&#160;12. 1&#8203;</div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:11pt;font-weight:bold;">LEXINGTON REALTY TRUST<br >and Consolidated Subsidiaries<br >For the&#160;years ended December&#160;31,<br >($000&#8217;s)<br >RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND<br >PREFERRED SHARE DIVIDENDS </div>
        <table style="width:456pt;height:235.5pt;margin-top:7pt;border-collapse: collapse;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:8pt;">
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:209.13pt;text-align:left;">
              <div style="white-space:nowrap;">Earnings </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">2017 </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">2016 </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">2015 </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">2014 </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">2013 </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:1.917pt 0pt 0.833pt 0pt; width:209.13pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">Income (loss) before provision for income taxes, noncontrolling interests, equity in earnings (losses) of non-consolidated entities and discontinued operations </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">89,394</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">90,299</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">112,025</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">48,325</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">(17,687<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:209.13pt;text-align:left;">
              <div style="white-space:nowrap;">Interest expense </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">74,184</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">83,957</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">85,549</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">93,297</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">82,465</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:209.13pt;text-align:left;">
              <div style="white-space:nowrap;">Amortization expense&#8201;&#8211;&#8201;debt cost </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">3,699</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">4,075</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">4,190</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">4,006</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">3,427</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:209.13pt;text-align:left;">
              <div style="white-space:nowrap;">Cash received from joint ventures </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">403</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">815</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">2,056</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">1,381</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">918</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:209.13pt;text-align:left;">
              <div style="white-space:nowrap;">Total </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">167,680</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">179,146</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">203,820</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">147,009</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">69,123</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:8.75pt 0pt 1.5pt 0pt; width:209.13pt;text-align:left;">Fixed charges:</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:209.13pt;text-align:left;">
              <div style="white-space:nowrap;">Interest expense </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">74,184</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">83,957</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">85,549</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">93,297</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">82,465</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:209.13pt;text-align:left;">
              <div style="white-space:nowrap;">Amortization expense&#8201;&#8211;&#8201;debt cost </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">3,699</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">4,075</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">4,190</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">4,006</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">3,427</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:209.13pt;text-align:left;">
              <div style="white-space:nowrap;">Capitalized interest expense </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">1,174</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">4,933</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">6,062</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">3,424</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">2,327</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:209.13pt;text-align:left;">
              <div style="white-space:nowrap;">Preferred share dividends </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">6,290</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">6,290</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">6,290</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">6,290</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">9,833</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:209.13pt;text-align:left;">
              <div style="white-space:nowrap;">Total </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">85,347</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">99,255</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">102,091</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">107,017</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">98,052</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:2.75pt 0pt 2.75pt 0pt; width:209.13pt;text-align:left;">
              <div style="white-space:nowrap;">Ratio </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 2pt 0pt;border-bottom:3px double #000000; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 2pt 0pt;border-bottom:3px double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">1.96</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 2pt 0pt;border-bottom:3px double #000000; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 2pt 0pt;border-bottom:3px double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">1.80</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 2pt 0pt;border-bottom:3px double #000000; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 2pt 0pt;border-bottom:3px double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">2.00</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 2pt 0pt;border-bottom:3px double #000000; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 2pt 0pt;border-bottom:3px double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">1.37</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 2pt 0pt;border-bottom:3px double #000000; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 2pt 0pt;border-bottom:3px double #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">N/A</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="height:4pt;line-height:4pt;">
            <td style="padding:0pt;font-size:0pt;line-height:0pt;" colspan="32">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:12.99pt; text-align:center; width:456pt; line-height:12pt;">N/A&#8201;&#8212;&#8201;Ratio is less than 1.0, deficit of&#8201; $28,929 at December&#160;31, 2013. </div>
      </div>
      <hr >
    </div>
    <div style=" width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">&#8203;</div>
      <div style="margin-top:46pt;margin-bottom:49.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:11pt;font-weight:bold;">LEXINGTON REALTY TRUST<br >and Consolidated Subsidiaries<br >For the&#160;years ended December&#160;31,<br >($000&#8217;s)<br >RATIO OF EARNINGS TO FIXED CHARGES </div>
        <table style="width:456pt;height:220.5pt;margin-top:7pt;border-collapse: collapse;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:8pt;">
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:209.13pt;text-align:left;">
              <div style="white-space:nowrap;">Earnings </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">2017 </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">2016 </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">2015 </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">2014 </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">2013 </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:1.917pt 0pt 0.833pt 0pt; width:209.13pt;white-space:normal;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">Income (loss) before provision for income taxes, noncontrolling interests, equity in earnings (losses) of non-consolidated entities and discontinued operations </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">89,394</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">90,299</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">112,025</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">48,325</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">(17,687<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:209.13pt;text-align:left;">
              <div style="white-space:nowrap;">Interest expense </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">74,184</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">83,957</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">85,549</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">93,297</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">82,465</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:209.13pt;text-align:left;">
              <div style="white-space:nowrap;">Amortization expense&#8201;&#8211;&#8201;debt cost </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">3,699</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">4,075</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">4,190</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">4,006</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">3,427</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:209.13pt;text-align:left;">
              <div style="white-space:nowrap;">Cash received from joint ventures </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">403</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">815</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">2,056</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">1,381</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">918</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:209.13pt;text-align:left;">
              <div style="white-space:nowrap;">Total </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">167,680</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">179,146</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">203,820</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">147,009</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">69,123</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:8.75pt 0pt 1.5pt 0pt; width:209.13pt;text-align:left;">Fixed charges:</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:209.13pt;text-align:left;">
              <div style="white-space:nowrap;">Interest expense </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">74,184</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">83,957</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">85,549</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">93,297</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">82,465</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:209.13pt;text-align:left;">
              <div style="white-space:nowrap;">Amortization expense&#8201;&#8211;&#8201;debt cost </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">3,699</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">4,075</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">4,190</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:24.75pt; text-align:right; white-space:nowrap;">4,006</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:23.25pt; text-align:right; white-space:nowrap;">3,427</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.5pt 0pt 2.5pt 0pt; width:209.13pt;text-align:left;">
              <div style="white-space:nowrap;">Capitalized interest expense </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">1,174</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">4,933</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">6,062</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">3,424</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">2,327</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:209.13pt;text-align:left;">
              <div style="white-space:nowrap;">Total </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">79,057</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">92,965</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">95,801</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">100,727</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">88,219</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:2.75pt 0pt 2.75pt 0pt; width:209.13pt;text-align:left;">
              <div style="white-space:nowrap;">Ratio </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 2pt 0pt;border-bottom:3px double #000000; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 2pt 0pt;border-bottom:3px double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">2.12</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 2pt 0pt;border-bottom:3px double #000000; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 2pt 0pt;border-bottom:3px double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">1.93</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 2pt 0pt;border-bottom:3px double #000000; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 2pt 0pt;border-bottom:3px double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">2.13</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 2pt 0pt;border-bottom:3px double #000000; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 2pt 0pt;border-bottom:3px double #000000; min-width:24.75pt; text-align:right; white-space:nowrap;">1.46</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 2pt 0pt;border-bottom:3px double #000000; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 2pt 0pt;border-bottom:3px double #000000; min-width:23.25pt; text-align:right; white-space:nowrap;">N/A</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="height:4pt;line-height:4pt;">
            <td style="padding:0pt;font-size:0pt;line-height:0pt;" colspan="32">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:12.98pt; text-align:center; width:456pt; line-height:12pt;">N/A&#8201;&#8212;&#8201;Ratio is less than 1.0, deficit of&#8201; $19,096 at December&#160;31, 2013. </div>
      </div>
      <hr >
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-12.2
<SEQUENCE>7
<FILENAME>tv486103_ex12-2.htm
<DESCRIPTION>EXHIBIT 12.2
<TEXT>
<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd">
<html>
  <head>
    <title>tv486103-s3asr_DIV_12-exh12x2 - none - 0.9092146s</title>
  </head>
  <body style="width:595.31pt;">
    <div style=" width:595.3pt;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">&#8203;</div>
      <div style="margin-top:46pt;margin-bottom:49.71pt;margin-left:70pt;width:456pt;">
        <div style="margin-top:6pt; text-align:right; width:456pt; line-height:12pt;font-weight:bold;">Exhibit&#160;12.2&#8203;</div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:11pt;font-weight:bold;">LEPERCQ CORPORATE INCOME FUND L.P.<br >and Consolidated Subsidiaries<br >For the&#160;years ended December&#160;31,<br >($000&#8217;s)<br >RATIO OF EARNINGS TO FIXED CHARGES </div>
        <table style="width:456pt;height:208.5pt;margin-top:7pt;border-collapse: collapse;">
          <tr style="line-height:8pt;white-space:nowrap;text-align:center;vertical-align:bottom;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:8pt;">
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt; width:232.46pt;text-align:left;">
              <div style="white-space:nowrap;">Earnings </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">2017 </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">2016 </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">2015 </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">2014 </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="border-bottom:1px solid #000000;padding:0pt 0pt 2.5pt 0pt;" colspan="4">
              <div style="white-space:nowrap; text-align:center;">2013 </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:1.917pt 0pt 0.833pt 0pt; width:232.46pt;text-align:left;">
              <div style="margin-left:10pt; text-indent:-10pt;">Income (loss) before provision for income taxes, equity <br >in earnings (losses) of non-consolidated entities and <br >discontinued operations </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">3,117</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">(4,173<font style="position:absolute;">)</font></td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">42,205</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">40,689</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:1.917pt 0pt 0.833pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">9,321</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:232.46pt;text-align:left;">
              <div style="white-space:nowrap;">Interest expense </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">15,268</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">26,039</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">27,824</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">26,990</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">12,488</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:232.46pt;text-align:left;">
              <div style="white-space:nowrap;">Amortization expense&#8201;&#8211;&#8201;debt cost </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">701</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">1,274</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">1,445</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">1,277</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">623</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="border-bottom:1px solid #FFFFFF;padding:3.5pt 0pt 2.5pt 0pt; width:232.46pt;text-align:left;">
              <div style="white-space:nowrap;">Cash received from joint ventures </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">408</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">324</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">150</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">15</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">&#8212;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #FFFFFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:232.46pt;text-align:left;">
              <div style="white-space:nowrap;">Total </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:21pt; text-align:right; white-space:nowrap;">19,494</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:21pt; text-align:right; white-space:nowrap;">23,464</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:21pt; text-align:right; white-space:nowrap;">71,624</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:21pt; text-align:right; white-space:nowrap;">68,971</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:21pt; text-align:right; white-space:nowrap;">22,432</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:8.75pt 0pt 1.5pt 0pt; width:232.46pt;text-align:left;">Fixed charges:</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:232.46pt;text-align:left;">
              <div style="white-space:nowrap;">Interest expense </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">15,268</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">26,039</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">27,824</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">26,990</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">12,488</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:3.5pt 0pt 1.5pt 0pt; width:232.46pt;text-align:left;">
              <div style="white-space:nowrap;">Amortization expense&#8201;&#8211;&#8201;debt cost </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">701</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">1,274</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">1,445</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">1,277</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 1.5pt 0pt; min-width:21pt; text-align:right; white-space:nowrap;">623</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="border-bottom:1px solid #CCEEFF;padding:3.5pt 0pt 2.5pt 0pt; width:232.46pt;text-align:left;">
              <div style="white-space:nowrap;">Capitalized interest expense </div>
            </td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">596</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">954</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">152</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">60</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:3.5pt 0pt 2.5pt 0pt;border-bottom:1px solid #000000; min-width:21pt; text-align:right; white-space:nowrap;">46</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;border-bottom:1px solid #CCEEFF;">&#8203;</td>
            <td style="padding:0pt;border-bottom:1px solid #CCEEFF; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:3.25pt 0pt 3.25pt 0pt; width:232.46pt;text-align:left;">
              <div style="white-space:nowrap;">Total </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:21pt; text-align:right; white-space:nowrap;">16,565</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:21pt; text-align:right; white-space:nowrap;">28,267</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:21pt; text-align:right; white-space:nowrap;">29,421</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:21pt; text-align:right; white-space:nowrap;">28,327</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:3.75pt; text-align:right; ">$</td>
            <td style="padding:3.25pt 0pt 2.5pt 0pt;border-bottom:3px double #000000; min-width:21pt; text-align:right; white-space:nowrap;">13,157</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:10pt;background-color:#CCEEFF;white-space:nowrap;text-align:right;vertical-align:bottom;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif;font-size:10pt;">
            <td style="padding:2.75pt 0pt 2.75pt 0pt; width:232.46pt;text-align:left;">
              <div style="white-space:nowrap;">Ratio </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 2pt 0pt;border-bottom:3px double #000000; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 2pt 0pt;border-bottom:3px double #000000; min-width:21pt; text-align:right; white-space:nowrap;">1.18</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 2pt 0pt;border-bottom:3px double #000000; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 2pt 0pt;border-bottom:3px double #000000; min-width:21pt; text-align:right; white-space:nowrap;">N/A</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 2pt 0pt;border-bottom:3px double #000000; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 2pt 0pt;border-bottom:3px double #000000; min-width:21pt; text-align:right; white-space:nowrap;">2.43</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 2pt 0pt;border-bottom:3px double #000000; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 2pt 0pt;border-bottom:3px double #000000; min-width:21pt; text-align:right; white-space:nowrap;">2.43</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:2.75pt 0pt 2pt 0pt;border-bottom:3px double #000000; min-width:3.75pt; text-align:right; ">&#8203;</td>
            <td style="padding:2.75pt 0pt 2pt 0pt;border-bottom:3px double #000000; min-width:21pt; text-align:right; white-space:nowrap;">1.70</td>
            <td style="padding:0pt;padding-left:0pt;width:0pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="height:4pt;line-height:4pt;">
            <td style="padding:0pt;font-size:0pt;line-height:0pt;" colspan="32">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:12.99pt; text-align:center; width:456pt; line-height:12pt;">N/A&#8201;&#8212;&#8201;Ratio is less than 1.0, deficit of&#8201; $4,803 exists at December&#160;31, 2016. </div>
      </div>
      <hr >
    </div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>8
<FILENAME>tv486103_ex23-1.htm
<DESCRIPTION>EXHIBIT 23.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 23.1</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">We consent to the incorporation by reference in this Registration
Statement on Form S-3 of our reports dated February 26, 2018, relating to the consolidated financial statements and financial statement
schedule of Lexington Realty Trust, and the effectiveness of Lexington Realty Trust&rsquo;s internal control over financial reporting,
appearing in the Annual Report on Form 10-K of Lexington Realty Trust and Lepercq Corporate Income Fund L.P. for the year ended
December 31, 2017, and to the reference to us under the heading &quot;Experts&quot; in the Prospectus, which is part of this Registration
Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; 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="width: 50%; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>/s/ DELOITTE &amp; TOUCHE LLP</I></FONT></TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New York, NY</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">February 26, 2018</FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>


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

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

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.2
<SEQUENCE>9
<FILENAME>tv486103_ex23-2.htm
<DESCRIPTION>EXHIBIT 23.2
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

<P STYLE="margin: 0; text-align: right"><B>Exhibit 23.2</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">We consent to the incorporation by reference in this Registration
Statement on Form S-3 of our report dated February 26, 2018, relating to the consolidated financial statements and financial statement
schedule of Lepercq Corporate Income Fund L.P., appearing in the Annual Report on Form 10-K of Lexington Realty Trust and Lepercq
Corporate Income Fund L.P. for the year ended December 31, 2017, and to the reference to us under the heading &quot;Experts&quot;
in the Prospectus, which is part of this Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></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: 50%; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>/s/ DELOITTE &amp; TOUCHE LLP</I></FONT></TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New York, NY</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">February 26, 2018</FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <!-- Field: /Page -->

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

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.3
<SEQUENCE>10
<FILENAME>tv486103_ex23-3.htm
<DESCRIPTION>EXHIBIT 23.3
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; text-align: right"><B>Exhibit 23.3</B></P>

<P STYLE="margin: 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Consent of Independent Registered Public Accounting Firm</P>

<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; margin-top: 0pt; margin-bottom: 0pt">The Board of Trustees</P>

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">We consent
to the use of our reports dated February 28, 2017, with respect to the consolidated financial statements of Lexington Realty
Trust and subsidiaries as of December 31, 2016 and 2015, and for each of the years in the three-year period ended December
31, 2016, incorporated by reference herein and to the reference of our firm under the heading &ldquo;Experts&rdquo; in
the prospectus.</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">February 26, 2018</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="margin: 0"></P>

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

</BODY>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.4
<SEQUENCE>11
<FILENAME>tv486103_ex23-4.htm
<DESCRIPTION>EXHIBIT 23.4
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; text-align: right"><B>Exhibit 23.4</B></P>

<P STYLE="margin: 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Consent of Independent Registered Public Accounting Firm</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Lepercq Corporate Income Fund L.P.:</P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">We consent to the use of our reports dated February 28, 2017, with respect to the consolidated financial statements of Lepercq Corporate Income Fund L.P. and subsidiaries as of December 31, 2016 and 2015, and for each of the years in the three-year period ended December 31, 2016, incorporated by reference herein and to the reference of our firm under the heading &ldquo;Experts&rdquo; in the prospectus.</P>

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

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">February 26, 2018</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>

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    <!-- Field: /Page -->

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

</BODY>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-25.1
<SEQUENCE>12
<FILENAME>tv486103_ex25-1.htm
<DESCRIPTION>EXHIBIT 25.1
<TEXT>
<HTML>
<HEAD>
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</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; text-align: right"><B>Exhibit 25.1</B></P>

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

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

<p style="margin: 0">&nbsp;</p>

<p style="margin-top: 0; text-align: center; margin-bottom: 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-variant: small-caps"><B>securities
and exchange commission</B></FONT></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">__________________________</p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>FORM T-1</b></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><font style="text-transform: uppercase"><b>Statement
of Eligibility Under</b></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><font style="text-transform: uppercase"><b>The
Trust Indenture Act of 1939 of a </b></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><font style="text-transform: uppercase"><b>Corporation
Designated to Act as Trustee</b></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Check if an Application to Determine Eligibility
of</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">a Trustee
Pursuant to Section 305(b)(2) <font style="font-family: Wingdings">&#168;</font></p>

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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><font style="font-size: 14"><b>U.S.
BANK NATIONAL ASSOCIATION</b></font></p>

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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>31-0841368</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>

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

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 50%; padding-top: 0; padding-right: 0; border-bottom: Black 1pt solid; padding-left: 0; text-indent: 0">
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">800 Nicollet Mall</p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Minneapolis, Minnesota</p></td>
    <td style="width: 50%; padding-top: 0; padding-right: 0; border-bottom: Black 1pt solid; padding-left: 0; text-indent: 0">
        <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">55402</p></td></tr>
<tr style="vertical-align: top">
    <td style="padding: 0; font-size: 10pt; text-align: center; text-indent: 0"><font style="font-size: 10pt">(Address of principal executive offices)</font></td>
    <td style="padding: 0; font-size: 10pt; text-align: center; text-indent: 0"><font style="font-size: 10pt">(Zip Code)</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 4in">&nbsp;</p>

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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">100 Wall Street</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">New York, NY 10005</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(212) 951-8501</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Name, address and telephone number of agent
for service)</p>

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

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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">(Issuer with respect to the Securities)</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 50%; padding-top: 0; padding-right: 0; border-bottom: Black 1pt solid; padding-left: 0; font-size: 10pt; text-align: center; text-indent: 0">Maryland</td>
    <td style="width: 50%; padding-top: 0; padding-right: 0; border-bottom: Black 1pt solid; padding-left: 0; font-size: 10pt; text-align: center; text-indent: 0">13-3717318</td></tr>
<tr style="vertical-align: top">
    <td style="padding: 0; font-size: 10pt; text-align: center; text-indent: 0"><font style="font-size: 10pt">(State or other jurisdiction of incorporation or organization)</font></td>
    <td style="padding: 0; font-size: 10pt; text-align: center; text-indent: 0"><font style="font-size: 10pt">(I.R.S. Employer Identification No.)</font></td></tr>
<tr style="vertical-align: top">
    <td style="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</td>
    <td style="padding: 0; font-size: 10pt; text-align: center; text-indent: 0">&nbsp;</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 50%; padding-top: 0; padding-right: 0; border-bottom: Black 1pt solid; padding-left: 0; text-indent: 0">
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">One Penn Plaza, Suite 4015</p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">New York, NY</p></td>
    <td style="width: 50%; padding-top: 0; padding-right: 0; border-bottom: Black 1pt solid; padding-left: 0; text-indent: 0">
        <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">10109</p></td></tr>
<tr style="vertical-align: top">
    <td style="padding: 0; font-size: 10pt; text-align: center; text-indent: 0"><font style="font-size: 10pt">(Address of Principal Executive Offices)</font></td>
    <td style="padding: 0; font-size: 10pt; text-align: center; text-indent: 0"><font style="font-size: 10pt">(Zip Code)</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: center; text-indent: -103.5pt"><b>(Title
of the Indenture Securities)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: center; text-indent: -103.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: center; text-indent: -103.5pt"><B>Additional
Registrant Table&nbsp;</b></p>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="width: 38%; border-top: black 2.25pt double; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt"><B>Exact Name of Registrant Guarantor</B></FONT><BR>
<FONT STYLE="font-size: 10pt"><B>as Specified in its Charter</B></FONT></TD>
    <TD NOWRAP STYLE="width: 14%; border-top: black 2.25pt double; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>State or Other</B></FONT><BR>
<FONT STYLE="font-size: 10pt"><B>Jurisdiction of</B></FONT><BR>
<FONT STYLE="font-size: 10pt"><B>Incorporation</B></FONT><BR>
<FONT STYLE="font-size: 10pt"><B>or</B></FONT><BR>
<FONT STYLE="font-size: 10pt"><B>Organization</B></FONT></TD>
    <TD NOWRAP STYLE="width: 20%; border-top: black 2.25pt double; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>I.R.S.</B></FONT><BR>
<FONT STYLE="font-size: 10pt"><B>Employer</B></FONT><BR>
<FONT STYLE="font-size: 10pt"><B>Identification</B></FONT><BR>
<FONT STYLE="font-size: 10pt"><B>Number</B></FONT></TD>
    <TD NOWRAP STYLE="width: 28%; border-top: black 2.25pt double; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Address, Including Zip Code</B></FONT><BR>
<FONT STYLE="font-size: 10pt"><B>and Telephone Number,</B></FONT><BR>
<FONT STYLE="font-size: 10pt"><B>Including Area Code,</B></FONT><BR>
<FONT STYLE="font-size: 10pt"><B>of Registrant&rsquo;s Principal</B></FONT><BR>
<FONT STYLE="font-size: 10pt"><B>Executive Offices</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">Lepercq Corporate Income Fund L.P.</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Delaware</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">13-3779859</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">One Penn Plaza, Suite 4015,</FONT><BR>
<FONT STYLE="font-size: 10pt">New York, NY 10119-4015</FONT><BR>
<FONT STYLE="font-size: 10pt">(212) 692-7200</FONT></TD></TR>
</TABLE>


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

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

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

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




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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b><u>FORM T-1</u></b></p>

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

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.75in; text-align: left"><b>Item 1.</b></td><td style="text-align: justify"><b>GENERAL INFORMATION<i>.</i></b> Furnish the following
information as to the Trustee.</td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35in; text-indent: -0.35in">&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: 0.75in"></td><td style="width: 0.35in">a)</td><td><i>Name and address of each examining or supervising authority to which it is subject.</i></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">Comptroller of the Currency</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">Washington, D.C.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35in; text-indent: -0.35in">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.35in; text-align: left">b)</td><td style="text-align: justify"><i>Whether it is authorized to exercise corporate trust
powers.</i></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&#9;Yes</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35in; text-indent: -0.35in">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.75in; text-align: left"><b>Item 2.</b></td><td style="text-align: justify"><b>AFFILIATIONS WITH OBLIGOR. </b> <i>If the obligor is
an affiliate of the Trustee, describe each such affiliation.</i></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">None</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35in; text-indent: -0.35in">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.75in; text-align: left"><b>Items 3-15</b></td><td style="text-align: justify"><i>Items 3-15 are not applicable because to the best
of the Trustee's knowledge, the obligor is not in default under any Indenture for which the Trustee acts as Trustee.</i></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35in; text-indent: 0in">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.75in; text-align: left"><b>Item 16.</b></td><td style="text-align: justify"><b>LIST OF EXHIBITS:</b> <i>List below all exhibits filed
as a part of this statement of eligibility and qualification.</i></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-indent: -0.75in">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left">1.</td><td style="text-align: justify">A copy of the Articles of Association of the Trustee.*</td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-indent: -0.5in">&nbsp;</p>

<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left">2.</td><td style="text-align: justify">A copy of the certificate of authority of the Trustee
to commence business, attached as Exhibit 2.</td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-indent: -0.5in">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.75in"></td><td style="width: 0.25in">3.</td><td>A copy of the certificate of authority of the Trustee to exercise corporate trust powers, attached as Exhibit 3.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-indent: -0.5in">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.75in"></td><td style="width: 0.25in">4.</td><td>A copy of the existing bylaws of the Trustee.**</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -1in">&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: 0.75in"></td><td style="width: 0.25in">5.</td><td>A copy of each Indenture referred to in Item 4. Not applicable.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-indent: -0.5in">&nbsp;</p>

<table cellpadding="0" cellspacing="0" width="100%" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.75in"></td><td style="width: 0.25in">6.</td><td>The consent of the Trustee required by Section 321(b) of the Trust Indenture Act of 1939, attached as Exhibit 6.</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: 0.75in"></td><td style="width: 0.25in">7.</td><td>Report of Condition of the Trustee as of June 30, 2016 published pursuant to law or the requirements of its supervising or
examining authority, attached as Exhibit 7.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-indent: 0pt">* Incorporated by reference to Exhibit
25.1 to Amendment No. 2 to registration statement on S-4, Registration Number 333-128217 filed on November 15, 2005.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-indent: -0.5in">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-indent: 0pt">** Incorporated by reference to Exhibit
25.1 to registration statement on form S-3ASR, Registration Number 333-199863 filed on November 5, 2014.</p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-indent: 0pt"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-indent: 0pt"></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; text-align: center"><b>SIGNATURE</b></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the requirements of the Trust
Indenture Act of 1939, as amended, the Trustee, U.S. BANK NATIONAL ASSOCIATION<font style="font-size: 10pt">, </font>a national
banking association organized and existing under the laws of the United States of America, has duly caused this statement of eligibility
and qualification to be signed on its behalf by the undersigned, thereunto duly authorized, all in the City of New York, State
of New York on the 20th of February, 2018.</p>

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

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 50%; padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</td>
    <td style="width: 5%; padding: 0; font-size: 10pt; text-indent: 0">By:</td>
    <td style="width: 45%; padding: 0; font-size: 10pt; text-indent: 0; border-bottom: Black 1pt solid">/s/ William G. Keenan</td></tr>
<tr style="vertical-align: top">
    <td style="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</td>
    <td style="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</td>
    <td style="padding: 0; font-size: 10pt; text-indent: 0">William G. Keenan</td></tr>
<tr style="vertical-align: top">
    <td style="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</td>
    <td style="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</td>
    <td style="padding: 0; font-size: 10pt; text-indent: 0">Vice President</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

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

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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b><u>Exhibit 2</u></b></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><img src="image_001.jpg" alt=""></p>

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

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

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b><u>Exhibit 3</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"><img src="image_002.jpg" alt=""></p>

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

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

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    <div style="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></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; text-align: center"><b><u>Exhibit 6</u></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; text-align: center"><b>CONSENT</b></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">In accordance with Section
321(b) of the Trust Indenture Act of 1939, the undersigned, U.S. BANK NATIONAL ASSOCIATION hereby consents that reports of examination
of the undersigned by Federal, State, Territorial or District authorities may be furnished by such authorities to the Securities
and Exchange Commission upon its request therefor.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></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">Dated: February 20, 2018</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>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 50%; padding: 0; text-indent: 0">&nbsp;</td>
    <td style="width: 5%; padding: 0; text-indent: 0">By:</td>
    <td style="width: 45%; padding: 0; text-indent: 0; border-bottom: Black 1pt solid">/s/ William G. Keenan</td></tr>
<tr style="vertical-align: top">
    <td style="padding: 0; text-indent: 0">&nbsp;</td>
    <td style="padding: 0; text-indent: 0">&nbsp;</td>
    <td style="padding: 0; text-indent: 0">William G. Keenan</td></tr>
<tr style="vertical-align: top">
    <td style="padding: 0; text-indent: 0">&nbsp;</td>
    <td style="padding: 0; text-indent: 0">&nbsp;</td>
    <td style="padding: 0; text-indent: 0">Vice President</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"></p>

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<p style="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"><b><u>Exhibit 7</u></b></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>U.S. Bank National Association</b></p>

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

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">As of 9/30/2017</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"><b>($000&rsquo;s) </b></p>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; padding-bottom: 1pt; border-bottom: Black 1pt solid">9/30/2017</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold">Assets</td><td style="font-size: 10pt">&nbsp;</td>
    <td colspan="2" style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 81%; font-size: 10pt; text-align: left; padding-left: 0.125in">Cash and Balances Due From</td><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</td>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</td><TD STYLE="width: 15%; font-size: 10pt; text-align: right">20,502,653</td><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-left: 0.25in">Depository Institutions</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; padding-left: 0.125in">Securities</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">110,797,206</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-left: 0.125in">Federal Funds</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">24,647</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-left: 0.125in">Loans &amp; Lease Financing Receivables</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">277,953,611</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-left: 0.125in">Fixed Assets</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">4,538,527</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-left: 0.125in">Intangible Assets</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">12,820,876</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-left: 0.125in; padding-bottom: 1pt">Other Assets</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</td><td style="font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">25,614,306</td><td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-left: 0.125in">Total Assets</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">$</td><td style="font-size: 10pt; font-weight: bold; text-align: right">452,251,826</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold">Liabilities</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; padding-left: 0.125in">Deposits</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">$</td><td style="font-size: 10pt; text-align: right">353,914,855</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-left: 0.125in">Fed Funds</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">992,263</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-left: 0.125in">Treasury Demand Notes</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">0</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-left: 0.125in">Trading Liabilities</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">989,885</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-left: 0.125in">Other Borrowed Money</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">31,965,947</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; padding-left: 0.125in">Acceptances</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">0</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-left: 0.125in">Subordinated Notes and Debentures</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">3,300,000</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-left: 0.125in; padding-bottom: 1pt">Other Liabilities</td><td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid">&nbsp;</td><td style="font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">14,438,977</td><td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-left: 0.125in">Total Liabilities</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">$</td><td style="font-size: 10pt; font-weight: bold; text-align: right">405,601,927</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; font-weight: bold">Equity</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-left: 0.125in">Common and Preferred Stock</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">18,200</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; padding-left: 0.125in">Surplus</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">14,266,915</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; text-align: left; padding-left: 0.125in">Undivided Profits</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">31,565,657</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt; text-align: left; padding-left: 0.125in">Minority Interest in Subsidiaries</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">799,127</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-left: 0.25in; padding-bottom: 1pt">Total Equity Capital</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left; border-bottom: Black 1pt solid">$</td><td style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">46,649,899</td><td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-size: 10pt">&nbsp;</td><td style="font-size: 10pt">&nbsp;</td>
    <td style="font-size: 10pt; text-align: left">&nbsp;</td><td style="font-size: 10pt; text-align: right">&nbsp;</td><td style="font-size: 10pt; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt; font-weight: bold; text-align: left">Total Liabilities and Equity Capital</td><td style="font-size: 10pt; font-weight: bold">&nbsp;</td>
    <td style="font-size: 10pt; font-weight: bold; text-align: left">$</td><td style="font-size: 10pt; font-weight: bold; text-align: right">452,251,826</td><td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td></tr>
</table>

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