<SEC-DOCUMENT>0001193125-18-152968.txt : 20180504
<SEC-HEADER>0001193125-18-152968.hdr.sgml : 20180504
<ACCEPTANCE-DATETIME>20180504170605
ACCESSION NUMBER:		0001193125-18-152968
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		11
CONFORMED PERIOD OF REPORT:	20180504
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20180504
DATE AS OF CHANGE:		20180504

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WASHINGTON REAL ESTATE INVESTMENT TRUST
		CENTRAL INDEX KEY:			0000104894
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				530261100
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-06622
		FILM NUMBER:		18808815

	BUSINESS ADDRESS:	
		STREET 1:		1775 EYE STREET, NW
		STREET 2:		SUITE 1000
		CITY:			WASHINGTON
		STATE:			DC
		ZIP:			20006
		BUSINESS PHONE:		2027743200

	MAIL ADDRESS:	
		STREET 1:		1775 EYE STREET, NW
		STREET 2:		SUITE 1000
		CITY:			WASHINGTON
		STATE:			DC
		ZIP:			20006
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d582540d8k.htm
<DESCRIPTION>8-K
<TEXT>
<HTML><HEAD>
<TITLE>8-K</TITLE>
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 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM <FONT
STYLE="white-space:nowrap">8-K</FONT> </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT
REPORT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>PURSUANT TO SECTION 13 OR 15(d) </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>OF THE SECURITIES EXCHANGE ACT OF 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of Report (Date of earliest event reported) May&nbsp;4, 2018 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>WASHINGTON REAL ESTATE </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>INVESTMENT TRUST </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact
name of registrant as specified in its charter) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"><B>MARYLAND</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">1-6622</FONT></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">53-0261100</FONT></B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(State</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>of incorporation)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Commission</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>File Number)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(IRS Employer</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Identification Number)</B></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>1775 EYE STREET, NW, SUITE 1000, WASHINGTON, DC 20006 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Address of principal executive office) (Zip code) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Registrant&#146;s telephone number, including area code: (202) <FONT STYLE="white-space:nowrap">774-3200</FONT> </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box below if the Form <FONT STYLE="white-space:nowrap">8-K</FONT> filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions (see General Instruction A.2. below): </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top">Soliciting material pursuant to Rule <FONT STYLE="white-space:nowrap">14a-12</FONT> under the Exchange Act (17 CFR <FONT STYLE="white-space:nowrap">240.14a-12)</FONT> </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="white-space:nowrap">Pre-commencement</FONT> communications pursuant to Rule <FONT STYLE="white-space:nowrap">14d-2(b)</FONT> under the Exchange Act (17 CFR
<FONT STYLE="white-space:nowrap">240.14d-2(b))</FONT> </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="white-space:nowrap">Pre-commencement</FONT> communications pursuant to Rule <FONT STYLE="white-space:nowrap">13e-4(c)</FONT> under the Exchange Act (17 CFR
<FONT STYLE="white-space:nowrap">240.13e-4(c))</FONT> </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether the registrant is an emerging growth company as
defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule <FONT STYLE="white-space:nowrap">12b-2</FONT> of the Securities Exchange Act of 1934 <FONT STYLE="white-space:nowrap">(&#167;240.12b-2</FONT> of this chapter).
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Emerging growth company&nbsp;&nbsp;&#9744; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">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&nbsp;13(a) of the Exchange
Act.&nbsp;&nbsp;&#9744; </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

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<TD WIDTH="9%" VALIGN="top" ALIGN="left"><B>Item&nbsp;8.01</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Other Events. </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On May&nbsp;4, 2018, Washington Real Estate Investment Trust
(&#147;Washington REIT&#148;) entered into eight separate equity distribution agreements (each, individually, an &#147;Equity Distribution Agreement&#148; and collectively, the &#147;Equity Distribution Agreements&#148;) with each of Wells Fargo
Securities, LLC, BNY Mellon Capital Markets, LLC, Capital One Securities, Inc., Citigroup Global Markets Inc., Goldman Sachs&nbsp;&amp; Co. LLC, J.P. Morgan Securities LLC, KeyBanc Capital Markets Inc. and SunTrust Robinson Humphrey, Inc. (each,
individually, a &#147;Sales Agent&#148; and together, the &#147;Sales Agents&#148;), pursuant to which Washington REIT may sell, from time to time, up to an aggregate sales price of $250,000,000 of its common shares of beneficial interest, $0.01 par
value per share (the &#147;Common Shares&#148;), through the Sales Agents. The Equity Distribution Agreements replace Washington REIT&#146;s existing equity distribution agreements with Wells Fargo Securities, LLC, BNY Mellon Capital Markets, LLC,
Citigroup Global Markets Inc. and RBC Capital Markets LLC, dated June&nbsp;23, 2015, each of which is scheduled to expire by its terms on May&nbsp;31, 2018. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Common Shares sold in the offering will be issued pursuant to a prospectus dated April&nbsp;4, 2018, and a prospectus supplement filed
with the Securities and Exchange Commission (the &#147;SEC&#148;) on May&nbsp;4, 2018, in connection with one or more offerings of shares under Washington REIT&#146;s shelf registration statement on Form <FONT STYLE="white-space:nowrap">S-3</FONT>
(Registration <FONT STYLE="white-space:nowrap">No.&nbsp;333-224135)</FONT> filed with the SEC on April&nbsp;4, 2018. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Sales of the Common
Shares made pursuant to the Equity Distribution Agreements, if any, may be sold by any method permitted by law deemed to be an &#147;at the market&#148; offering as defined in Rule 415 of the Securities Act of 1933, as amended (the &#147;Securities
Act&#148;), including without limitation directly on the New York Stock Exchange, or any other existing trading market for the Common Shares or through a market maker, or, if agreed by Washington REIT and the Sales Agents, by any other method
permitted by law, including but not limited to in privately negotiated transactions. Washington REIT intends to use the net proceeds from these sales, if any, for general business purposes, including, without limitation, working capital, the
acquisition, renovation, expansion, improvement, development or redevelopment of income-producing properties or the repayment of debt. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Washington REIT made certain customary representations, warranties and covenants concerning Washington REIT and the Common Shares in each
Equity Distribution Agreement, and also agreed to indemnify the Sales Agents against certain liabilities, including liabilities under the Securities Act. Copies of the Equity Distribution Agreements are filed as exhibits 1.1, 1.2, 1.3, 1.4, 1,5,
1.6, 1.7, and 1.8 to this Current Report on Form <FONT STYLE="white-space:nowrap">8-K.</FONT> The foregoing descriptions of the material terms of the Equity Distribution Agreements and the transactions contemplated by the Equity Distribution
Agreements do not purport to be complete and are qualified in their entirety by reference to such exhibits, which are incorporated herein by reference. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">From time to time, Washington REIT has had customary commercial and/or investment banking relationships with each Sales Agent and/or certain
of their affiliates. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On May&nbsp;4, 2018, Hogan Lovells US LLP delivered its legality opinion with respect to the Common Shares to be
issued pursuant to the Equity Distribution Agreements. A copy of the legality opinion is attached hereto as Exhibit 5.1. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This Current
Report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> shall not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="9%" VALIGN="top" ALIGN="left"><B>Item&nbsp;9.01</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Financial Statements and Exhibits. </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(d) Exhibits. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" NOWRAP>1.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d582540dex11.htm">Equity Distribution Agreement, dated May&nbsp;4, 2018, by and between Washington REIT and Wells Fargo Securities, LLC </A></TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top" NOWRAP>1.2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d582540dex12.htm">Equity Distribution Agreement, dated May&nbsp;4, 2018, by and between Washington REIT and BNY Mellon Capital Markets, LLC </A></TD></TR>
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<TD VALIGN="top" NOWRAP>1.3</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d582540dex13.htm">Equity Distribution Agreement, dated May&nbsp;4, 2018, by and between Washington REIT and Capital One Securities, Inc. </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>1.4</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d582540dex14.htm">Equity Distribution Agreement, dated May&nbsp;4, 2018, by and between Washington REIT and Citigroup Global Markets Inc. </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>1.5</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d582540dex15.htm">Equity Distribution Agreement, dated May&nbsp;4, 2018, by and between Washington REIT and Goldman Sachs&nbsp;&amp; Co. LLC </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>1.6</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d582540dex16.htm">Equity Distribution Agreement, dated May&nbsp;4, 2018. by and between Washington REIT and J.P. Morgan Securities LLC </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>1.7</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d582540dex17.htm">Equity Distribution Agreement, dated May&nbsp;4, 2018, by and between Washington REIT and KeyBanc Capital Markets Inc. </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>1.8</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d582540dex18.htm">Equity Distribution Agreement, dated May&nbsp;4, 2018, by and between Washington REIT and SunTrust Robinson Humphrey, Inc. </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>5.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d582540dex51.htm">Opinion of Hogan Lovells US LLP regarding the legality of the Common Shares </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>23.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d582540dex51.htm">Consent of Hogan Lovells US LLP (included in Exhibit 5.1) </A></TD></TR>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TD VALIGN="top" COLSPAN="3">WASHINGTON REAL ESTATE INVESTMENT TRUST</TD></TR></TABLE></DIV>
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<TD VALIGN="top">Date: May&nbsp;4, 2018</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;/s/ Taryn D. Fielder</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Name: Taryn D. Fielder</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Title: &nbsp;&nbsp;Senior Vice President, General Counsel and</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; text-indent:2.90em; font-size:10pt; font-family:Times New Roman">Corporate Secretary</P></TD></TR>
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<DOCUMENT>
<TYPE>EX-1.1
<SEQUENCE>2
<FILENAME>d582540dex11.htm
<DESCRIPTION>EX-1.1
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<HTML><HEAD>
<TITLE>EX-1.1</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 1.1 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Washington Real Estate Investment Trust </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">$250,000,000 of Common Shares of Beneficial Interest </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EQUITY DISTRIBUTION AGREEMENT </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dated:
May&nbsp;4, 2018 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TABLE OF CONTENTS </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="96%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Page</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 1. Description of Securities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2. Placements</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 3. Sale of Placement Securities by Wells Fargo Securities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4. Suspension of Sales</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 5. Representations and Warranties</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6. Sale and Delivery to Wells Fargo Securities; Settlement</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7. Covenants of the Company</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 8. Payment of Expenses</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 9. Conditions of Wells Fargo Securities&#146; Obligations</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 10. Indemnification</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">28</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11. Contribution</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">31</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 12. Representations, Warranties and Agreements to Survive Delivery</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">32</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 13. Termination of Agreement</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">32</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 14. Notices</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 15. Parties</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 16. Adjustments for Stock Splits</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 17. Governing Law; Time and Jurisdiction</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 18. Effect of Headings</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 19. Counterparts</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 20. Definitions</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 21. Permitted Free Writing Prospectuses</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 22. Absence of Fiduciary Relationship</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">36</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">i </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXHIBITS </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="7%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="88%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Exhibit&nbsp;A</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>&#150;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Form of Placement Notice</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Exhibit B</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>&#150;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Authorized Individuals for Placement Notices and Acceptances</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Exhibit C</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>&#150;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Compensation</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Exhibit D</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>&#150;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Significant Subsidiaries of the Company</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Exhibit E</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>&#150;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Form of Opinions of Company Counsel</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Exhibit F</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>&#150;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Officer Certificate</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Exhibit G</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>&#150;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Issuer Free Writing Prospectus</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ii </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Washington Real Estate Investment Trust </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">$250,000,000 of Common Shares of Beneficial Interest </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>EQUITY DISTRIBUTION AGREEMENT </U></B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">May&nbsp;4, 2018 </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Wells Fargo Securities, LLC </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">375 Park Avenue </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">4th Floor </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">New York, New York 10152 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ladies and Gentlemen: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Washington Real Estate Investment Trust, a Maryland real estate investment trust (the &#147;<U>Company</U>&#148;), confirms its agreement (this
&#147;<U>Agreement</U>&#148;) with Wells Fargo Securities, LLC (&#147;<U>Wells Fargo Securities</U>&#148;), as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 1.
<U>Description of Securities</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company agrees that, from time to time during the term of this Agreement, on the terms and subject
to the conditions set forth herein, it may issue and sell through Wells Fargo Securities, acting as agent and/or principal, Common Shares of Beneficial Interest, par value $0.01 per share (the &#147;<U>Common Stock</U>&#148;), having an aggregate
sale price of up to $250,000,000 (such Common Shares, the &#147;Securities&#148;, and such maximum amount, the &#147;<U>Maximum Amount</U>&#148;). Notwithstanding anything to the contrary contained herein, the parties hereto agree that compliance
with the limitations set forth in this Section&nbsp;1 regarding the aggregate sale price of the Securities issued and sold under this Agreement shall be the sole responsibility of the Company, and Wells Fargo Securities shall have no obligation in
connection with such compliance. The issuance and sale of the Securities through Wells Fargo Securities will be effected pursuant to the Registration Statement (as defined below) filed by the Company with the Securities and Exchange Commission (the
&#147;<U>Commission</U>&#148;), which became effective upon filing, although nothing in this Agreement shall be construed as requiring the Company to use the Registration Statement to issue the Securities. The Company agrees that whenever it
determines to sell Securities directly to Wells Fargo Securities as principal it will enter into a separate written agreement containing the terms and conditions of such sale. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company has also entered into separate equity distribution agreements with respect to the Securities (each, an &#147;<U>Alternative Equity
Distribution Agreement</U>&#148; and collectively, the &#147;<U>Alternative Equity Distribution Agreements</U>&#148;), each dated as of the date hereof, with BNY Mellon Capital Markets, LLC, Capital One Securities, Inc., Citigroup Global Markets
Inc., Goldman Sachs&nbsp;&amp;&nbsp;Co. LLC, J.P. Morgan Securities&nbsp;LLC, KeyBanc Capital Markets&nbsp;Inc. and SunTrust Robinson Humphrey,&nbsp;Inc. (each, an &#147;<U>Alternative Placement Agent</U>&#148; and collectively, the
&#147;<U>Alternative Placement Agents</U>&#148;, and, together with Wells Fargo Securities, the &#147;<U>Agents</U>&#148;). The aggregate offering price of the Securities that may be sold pursuant to this Agreement and the Alternative Equity
Distribution Agreements collectively shall not exceed the Maximum Amount. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company has filed, in accordance with the provisions of the Securities Act, with the
Commission a registration statement on Form <FONT STYLE="white-space:nowrap">S-3</FONT> (File <FONT STYLE="white-space:nowrap">No.&nbsp;333-224135),</FONT> including a base prospectus, relating to certain securities, including the Securities to be
issued from time to time by the Company, and which incorporates by reference documents that the Company has filed or will file in accordance with the provisions of the Securities Exchange Act of 1934, as amended, and the rules and regulations
thereunder (collectively, the &#147;<U>Exchange Act</U>&#148;). The Company has prepared a prospectus supplement specifically relating to the Securities (the &#147;<U>Prospectus Supplement</U>&#148;) to the base prospectus included as part of such
registration statement. The Company will furnish to Wells Fargo Securities, for use by Wells Fargo Securities, copies of the prospectus included as part of such registration statement, as supplemented by the Prospectus Supplement, relating to the
Securities. The &#147;<U>Registration Statement</U>&#148;, as of any time, means such registration statement as amended by any post-effective amendments thereto at such time, including the exhibits and any schedules thereto at such time, the
documents incorporated or deemed to be incorporated by reference therein at such time pursuant to Item 12 of Form <FONT STYLE="white-space:nowrap">S-3</FONT> under the Securities Act and the documents and information otherwise deemed to be a part
thereof as of such time pursuant to Rule 430B of the Securities Act (&#147;<U>Rule 430B</U>&#148;); <I>provided</I>, <I>however</I>, that the &#147;Registration Statement&#148; without reference to a time means such registration statement as amended
by any post-effective amendments thereto as of the time of the first contract of sale for the Securities, which time shall be considered the &#147;new effective date&#148; of the Registration Statement with respect to the Securities within the
meaning of paragraph (f)(2) of Rule 430B, including the exhibits and schedules thereto at such time, the documents and information incorporated or deemed to be incorporated by reference therein at such time pursuant to Item 12 of Form <FONT
STYLE="white-space:nowrap">S-3</FONT> under the Securities Act and the documents otherwise deemed to be a part thereof as of such time pursuant to Rule 430B. The base prospectus, including all documents incorporated therein by reference, included in
the Registration Statement, as it may be supplemented by the Prospectus Supplement, in the form in which such prospectus and/or Prospectus Supplement have most recently been filed by the Company with the Commission pursuant to Rule 424(b) under the
Securities Act is herein called the &#147;<U>Prospectus</U>.&#148; Any reference herein to the Registration Statement, the Prospectus or any amendment or supplement thereto shall be deemed to refer to and include the documents incorporated by
reference therein, and any reference herein to the terms &#147;amend,&#148; &#147;amendment&#148; or &#147;supplement&#148; with respect to the Registration Statement or the Prospectus shall be deemed to refer to and include the filing after the
execution hereof of any document with the Commission deemed to be incorporated by reference therein. For purposes of this Agreement, all references to the Registration Statement, the Prospectus or to any amendment or supplement thereto shall be
deemed to include any copy filed with the Commission pursuant to EDGAR. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 2. <U>Placements</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each time that the Company wishes to issue and sell the Securities hereunder (each, a &#147;<U>Placement</U>&#148;), it will notify Wells
Fargo Securities by email notice (or other method mutually agreed to in writing by the parties) containing the parameters in accordance with which it desires the Securities to be sold, which shall at a minimum include the number or dollar amount of
</P>
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Securities to be issued (the &#147;<U>Placement Securities</U>&#148;), the time period during which sales are requested to be made, any limitation on the number or dollar amount of Securities
that may be sold in any one day and any minimum price below which sales may not be made (a &#147;<U>Placement Notice</U>&#148;), a form of which containing such minimum sales parameters necessary is attached hereto as <U>Exhibit A</U>. The Placement
Notice shall originate from any of the individuals from the Company set forth on <U>Exhibit B</U> (with a copy to each of the other individuals from the Company listed on such schedule), and shall be addressed to each of the individuals from Wells
Fargo Securities set forth on <U>Exhibit B</U>, as such <U>Exhibit B</U> may be amended from time to time. If Wells Fargo Securities wishes to accept such proposed terms included in the Placement Notice (which it may decline to do so for any reason
in its sole discretion) or, following discussion with the Company, wishes to accept amended terms, Wells Fargo Securities will, prior to 4:30 p.m. (New York City time) on the Business Day following the Business Day on which such Placement Notice is
delivered to Wells Fargo Securities, issue to the Company a notice by email (or other method mutually agreed to in writing by the parties) addressed to all of the individuals from the Company and Wells Fargo Securities set forth on <U>Exhibit B</U>)
setting forth the terms that Wells Fargo Securities is willing to accept. Where the terms provided in the Placement Notice are amended as provided for in the immediately preceding sentence, such terms will not be binding on the Company or Wells
Fargo Securities until the Company delivers to Wells Fargo Securities an acceptance by email (or other method mutually agreed to in writing by the parties) of all of the terms of such Placement Notice, as amended (the &#147;<U>Acceptance</U>&#148;),
which email shall be addressed to all of the individuals from the Company and Wells Fargo Securities set forth on <U>Exhibit B</U>. The Placement Notice (as amended by the corresponding Acceptance, if applicable) shall be effective upon receipt by
the Company of Wells Fargo Securities&#146; acceptance of the terms of the Placement Notice or upon receipt by Wells Fargo Securities of the Company&#146;s Acceptance, as the case may be, unless and until (i)&nbsp;the entire amount of the Placement
Securities has been sold, (ii)&nbsp;in accordance with the notice requirements set forth in the second sentence of this paragraph, the Company terminates the Placement Notice, (iii)&nbsp;the Company issues a subsequent Placement Notice with
parameters superseding those on the earlier dated Placement Notice, (iv)&nbsp;this Agreement has been terminated under the provisions of Section&nbsp;13 or (v)&nbsp;either party shall have suspended the sale of the Placement Securities in accordance
with Section&nbsp;4 below. The amount of any discount, commission or other compensation to be paid by the Company to Wells Fargo Securities in connection with the sale of the Placement Securities shall be calculated in accordance with the terms set
forth in <U>Exhibit C</U>. It is expressly acknowledged and agreed that neither the Company nor Wells Fargo Securities will have any obligation whatsoever with respect to a Placement or any Placement Securities unless and until the Company delivers
a Placement Notice to Wells Fargo Securities and either (i)&nbsp;Wells Fargo Securities accepts the terms of such Placement Notice or (ii)&nbsp;where the terms of such Placement Notice are amended, the Company accepts such amended terms by means of
an Acceptance pursuant to the terms set forth above, and then only upon the terms specified in the Placement Notice (as amended by the corresponding Acceptance, if applicable) and herein. In the event of a conflict between the terms of this
Agreement and the terms of a Placement Notice (as amended by the corresponding Acceptance, if applicable), the terms of the Placement Notice (as amended by the corresponding Acceptance, if applicable) will control. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company agrees that any offer to sell or any sales of Securities pursuant to this Agreement
or any Alternative Equity Distribution Agreement shall only be effected by or through only one of Wells Fargo Securities or an Alternative Placement Agent on any single given day, and the Company shall in no event request that Wells Fargo Securities
and an Alternative Placement Agent sell Securities on the same day; <I>provided, however, </I>that the foregoing limitation shall only apply with respect to an agency transaction and shall not apply to any&nbsp;principal transaction effected at any
time by any Agent and, provided further, such limitation shall not apply on any day during which no sales are made pursuant to this Agreement. Notwithstanding the foregoing or anything to the contrary contained herein, the Company shall be
permitted, at any time and from time to time, to engage one or more additional agents and/or principals, subject to such additional agents and/or principals executing the expense reimbursement agreement then in effect among the Agents relating only
to the sale of the Securities and the transactions contemplated by this Agreement and the Alternative Distribution Agreements, that, once engaged, may offer to sell, solicit an offer to buy or sell the Securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 3. <U>Sale of Placement Securities by Wells Fargo Securities</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Subject to the provisions of Section&nbsp;6(a), Wells Fargo Securities, for the period specified in the Placement Notice, will use its
commercially reasonable efforts consistent with its normal trading and sales practices to sell the Placement Securities up to the amount specified, and otherwise in accordance with the terms of such Placement Notice (as amended by the corresponding
Acceptance, if applicable). Wells Fargo Securities will provide written confirmation to the Company no later than the opening of the Trading Day (as defined below) immediately following the Trading Day on which it has made sales of Placement
Securities hereunder setting forth the number of Placement Securities sold on such day, the compensation payable by the Company to Wells Fargo Securities pursuant to Section&nbsp;2 with respect to such sales, and the Net Proceeds (as defined below)
payable to the Company, with an itemization of the deductions made by Wells Fargo Securities (as set forth in Section&nbsp;6(b)) from the gross proceeds that it receives from such sales. Subject to the terms of the Placement Notice (as amended by
the corresponding Acceptance, if applicable), Wells Fargo Securities may sell Placement Securities by any method permitted by law deemed to be an &#147;at the market&#148; offering as defined in Rule 415 under the Securities Act, including without
limitation sales made directly on the NYSE, on any other existing trading market for the Common Stock or to or through a market maker. Subject to the terms of the Placement Notice (as amended by the corresponding Acceptance, if applicable), Wells
Fargo Securities may also sell Placement Securities by any other method permitted by law, including but not limited to in privately negotiated transactions, which may include block trades. The Company acknowledges and agrees that (i)&nbsp;there can
be no assurance that Wells Fargo Securities will be successful in selling Placement Securities, and (ii)&nbsp;Wells Fargo Securities will incur no liability or obligation to the Company or any other person or entity if it does not sell Placement
Securities for any reason other than a failure by Wells Fargo Securities to use its commercially reasonable efforts consistent with its normal trading and sales practices to sell such Placement Securities as required under this Section&nbsp;3. For
the purposes hereof, &#147;<U>Trading Day</U>&#148; means any day on which shares of Common Stock are purchased and sold on the principal market on which the Common Stock is listed or quoted. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 4. <U>Suspension of Sales</U>. The Company or Wells Fargo Securities may, upon notice to
the other party in writing (including by email correspondence to each of the individuals of the other party set forth on <U>Exhibit B</U>, if receipt of such correspondence is actually acknowledged by any of the individuals to whom the notice is
sent, other than via auto-reply) or by telephone (confirmed immediately by verifiable facsimile transmission or email correspondence to each of the individuals of the other party set forth on <U>Exhibit B</U>), suspend any sale of Placement
Securities; <I>provided</I>, <I>however</I>, that such suspension shall not affect or impair either party&#146;s obligations with respect to any Placement Securities sold hereunder prior to the receipt of such notice or any Placement Securities sold
under the Alternative Equity Distribution Agreements. Each of the parties agrees that no such notice under this Section&nbsp;4 shall be effective against the other unless it is made to one of the individuals named on <U>Exhibit B</U> hereto, as such
<U>Exhibit B</U> may be amended from time to time. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 5. <U>Representations and Warranties</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Representations and Warranties by the Company</I>. The Company represents and warrants to Wells Fargo Securities as of the date hereof
and as of each Representation Date (as defined below) on which a certificate is required to be delivered pursuant to Section&nbsp;7(n) of this Agreement, as of each Applicable Time and as of each Settlement Date (as defined below), and agrees with
Wells Fargo Securities, as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) <U>Compliance with Registration Requirements</U>. The Securities have been duly
registered under the Securities Act pursuant to the Registration Statement. The Registration Statement has become effective under the Securities Act, or, with respect to any registration statement to be filed to register the offer and sale of the
Securities pursuant to Rule 462(b) under the Securities Act (a &#147;<U>Rule 462(b) Registration Statement</U>&#148;), will be filed with the Commission and become effective under the Securities Act no later than 10:00 p.m. (New York City time), on
the date of determination of the public offering price for the Securities, and no stop order preventing or suspending the use of any base prospectus, the Prospectus Supplement, the Prospectus or any Permitted Free Writing Prospectus (as defined
below), or the effectiveness of the Registration Statement or any Rule 462(b) Registration Statement and no proceedings for such purpose have been instituted or are pending or, to the knowledge of the Company, are contemplated by the Commission, and
any request on the part of the Commission for additional information has been complied with. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">At the respective times each
of the Registration Statement, any Rule 462(b) Registration Statement and any post-effective amendments thereto became or becomes effective and as of the date hereof, the Registration Statement, any Rule 462(b) Registration Statement and any
amendments and supplements thereto complied and will comply in all material respects with the requirements of the Securities Act. The conditions for the use of Form <FONT STYLE="white-space:nowrap">S-3,</FONT> as set forth in the General
Instructions thereto, and the Registration Statement meets, and the offering and sale of the Securities as contemplated hereby complies with, the requirements of Rule 415 under the Securities Act (including, without limitation, Rule 415(a)(5)). The
Registration Statement, as of the date hereof and each effective date with respect thereto, did not and will not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the
statements therein not misleading. Neither the Prospectus nor any amendments or supplements thereto, as of their respective dates, and at each Applicable </P>
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Time and Settlement Date, as the case may be, included or will include an untrue statement of a material fact or omitted or will omit to state a material fact necessary in order to make the
statements therein, in the light of the circumstances under which they were made, not misleading. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">The representations and
warranties set forth in the immediately preceding paragraph shall not apply to statements in or omissions from the Registration Statement or the Prospectus, as amended or supplemented, made in reliance upon and in conformity with information
furnished to the Company in writing by Wells Fargo Securities expressly for use therein. For purposes of this Agreement, the only information so furnished as of the date hereof shall be Wells Fargo Securities&#146; name (the &#147;<U>Agent
Information</U>&#148;). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">The copies of the Registration Statement and any Rule 462(b) Registration Statement and any
amendments thereto, any other preliminary prospectus, each Issuer Free Writing Prospectus that is required to be filed with the Commission pursuant to Rule 433 and the Prospectus and any amendments or supplements thereto delivered and to be
delivered to Wells Fargo Securities (electronically or otherwise) in connection with the offering of the Securities were and will be identical to the electronically transmitted copies thereof filed with the Commission pursuant to EDGAR, except to
the extent permitted by Regulation <FONT STYLE="white-space:nowrap">S-T.</FONT> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each Issuer Free Writing Prospectus
relating to the Securities, as of its issue date and as of each Applicable Time and Settlement Date, did not, does not and will not include any information that conflicted, conflicts or will conflict with the information contained in the
Registration Statement or the Prospectus, including any incorporated document deemed to be a part thereof that has not been superseded or modified, or included, includes or will include an untrue statement of a material fact or omitted, omits or
will omit to state a material fact necessary in order to make the statements therein, in light of the circumstances, prevailing at that subsequent time, not misleading. The foregoing sentence does not apply to statements in or omissions from any
Issuer Free Writing Prospectus based upon and in conformity with written information furnished to the Company by Wells Fargo Securities specifically for use therein. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">At the time of the initial filing of the Registration Statement, at the time of the most recent amendment thereto for the
purposes of complying with Section&nbsp;10(a)(3) of the Securities Act (whether such amendment was by post-effective amendment, incorporated report filed pursuant to Section&nbsp;13 or 15(d) of the Exchange Act or form of prospectus), at the time
the Company or another offering participant made a bona fide offer (within the meaning, for this paragraph only, of Rule 164(h)(2) of the Securities Act), the Company was and is a &#147;well-known seasoned issuer&#148; as defined in Rule 405 of the
Securities Act, including not having been and not being an &#147;ineligible issuer,&#148; as defined in Rule 405 of the Securities Act; and, without limitation to the foregoing, the Company has at all relevant times met, meets and will at all
relevant times meet the requirements of Rule 164 for the use of a free writing prospectus (as defined in Rule 405) in connection with the offering contemplated hereby. The Company agrees to pay the fees required by the Commission relating to the
Securities within the time required by Rule 456(b)(1) without regard to the proviso therein and otherwise in accordance with Rules 456(b) and 457(r). </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each document incorporated by reference in the Registration Statement or the
Prospectus heretofore filed, when it was filed (or, if any amendment with respect to any such document was filed, when such amendment was filed), conformed in all material respects with the requirements of the Exchange Act, and any further documents
so filed and incorporated after the date of this Agreement will, when they are filed, conform in all material respects with the requirements of the Exchange Act; no such document when it was filed (or, if an amendment with respect to any such
document was filed, when such amendment was filed), contained an untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make the statements therein not misleading; and no such
document, when it is filed, will contain an untrue statement of a material fact or will omit to state a material fact required to be stated therein or necessary in order to make the statements therein not misleading. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) <U>Prior Written Communications</U>. Any offer that is a written communication relating to the Securities made prior to the
initial filing of the Registration Statement by the Company or any person acting on its behalf (within the meaning, for this paragraph only, of Rule 163(c) of the Securities Act) has been filed with the Commission in accordance with the exemption
provided by Rule 163 of the Securities Act and otherwise complied with the requirements of Rule 163 of the Securities Act, including without limitation the legending requirement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) <U>Good Standing of Company</U>. The Company has been duly organized and is validly existing as a real estate investment
trust of unlimited duration with transferable shares of beneficial interest in good standing under the laws of the State of Maryland, with full power and authority to own, lease and operate its properties and to conduct its business as described in
the Registration Statement and the Prospectus and to enter into this Agreement and to consummate the transactions contemplated by the Registration Statement and the Prospectus. The Company is duly qualified to transact business and is in good
standing in each jurisdiction in which such qualification is required, whether by reason of the ownership or leasing of property or the conduct of business, except where the failure to so qualify or be in good standing would not result in a material
adverse change in the condition, financial or otherwise, or the results of operations, business, properties or prospects of the Company and its subsidiaries considered as one enterprise, whether or not arising in the ordinary course of business (a
&#147;<U>Material Adverse Effect</U>&#148;). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) <U>Subsidiaries</U>. Each &#147;significant subsidiary&#148; of the
Company (as such term is defined in Rule <FONT STYLE="white-space:nowrap">1-02</FONT> of Regulation <FONT STYLE="white-space:nowrap">S-X</FONT> promulgated under the Securities Act) (each, a &#147;Subsidiary&#148; and, collectively, the
&#147;Subsidiaries&#148;) (which term includes corporations, limited and general partnerships, limited liability companies, joint ventures and other entities, and includes direct and indirect subsidiaries), has been duly organized and is validly
existing as a corporation, limited liability company or partnership, as the case may be, in good standing under the laws of the jurisdiction of its incorporation or organization, has power and authority to own, lease and operate its properties and
to conduct its business as described in the Registration Statement and the Prospectus and is </P>
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duly qualified to transact business and is in good standing in each jurisdiction in which such qualification is required, whether by reason of the ownership or leasing of property or the conduct
of business, except where the failure to so qualify or be in good standing would not result in a Material Adverse Effect. Except as otherwise stated in the Registration Statement or the Prospectus, all of the issued and outstanding capital stock or
other ownership interests of each subsidiary have been duly authorized and validly issued, are fully paid and <FONT STYLE="white-space:nowrap">non-assessable</FONT> and are owned by the Company, directly or through subsidiaries, free and clear of
any security interest, mortgage, pledge, lien, encumbrance, claim or equity; and none of the outstanding shares of capital stock of any subsidiary was issued in violation of preemptive or other similar rights of any security holder of such
subsidiary. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(5) <U>Capitalization</U>. The Securities and all other outstanding Common Stock have been duly authorized;
the authorized equity capitalization of the Company is as set forth in the Prospectus; all outstanding Common Stock is, and, when the Securities have been delivered and paid for in accordance with this Agreement or any Alternative Equity
Distribution Agreement, such Securities will have been, validly issued, fully paid and nonassessable, will be consistent with the information in the Prospectus and will conform to the description thereof contained in the Prospectus; the shareholders
of the Company have no preemptive rights with respect to the Securities; and none of the outstanding Common Stock has been issued in violation of any preemptive or similar rights of any security holder. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(6) <U>Absence of Further Requirements</U>. No consent, approval, authorization, or order of, or filing or registration with,
any person (including any governmental agency or body or any court) is required for the consummation by the Company of the transactions contemplated by this Agreement in connection with the offering, issuance and sale of the Securities by the
Company, except such as have been obtained under the Securities Act, and such as may be required under state securities laws. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(7) <U>Title to Property</U>. The Company and its subsidiaries have good and marketable title to, or valid and enforceable
leasehold estates in, all items of real and personal property referred to in the Registration Statement and the Prospectus as owned or leased by them, in each case free and clear of all liens, encumbrances, claims, security interests and defects,
other than those disclosed in the Registration Statement or the Prospectus or that would not, individually or in the aggregate, have a Material Adverse Effect. The Company has no reasonable basis to believe that the lessee under any lease calling
for annual lease payments in excess of one percent of the Company&#146;s annual revenue for its last fiscal year is not financially capable of performing its obligations thereunder (excluding leases for which rent payments due for the remainder of
such lease are less than such amount). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(8) <U>Absence of Defaults and Conflicts Resulting from Transaction</U>. The
execution, delivery and performance of this Agreement, and the issuance and sale of the Securities and compliance with the terms and provisions thereof will not result in a breach or violation of any of the terms and provisions of, or constitute a
default or a Debt Repayment Triggering Event (as defined below) under, or result in the imposition of any </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
lien, charge or encumbrance upon any property or assets of the Company or any of its subsidiaries pursuant to, the declaration of trust, partnership agreement, charter or bylaws or other
organizational documents of the Company or any of its subsidiaries, any statute, rule, regulation or order of any governmental agency or body or any court, domestic or foreign, having jurisdiction over the Company or any of its subsidiaries or any
of their properties, or any agreement or instrument to which the Company or any of its subsidiaries is a party or by which the Company or any of its subsidiaries is bound or to which any of the properties of the Company or any of its subsidiaries is
subject; a &#147;Debt Repayment Triggering Event&#148; means any event or condition that gives, or with the giving of notice or lapse of time would give, the holder of any note, debenture, or other evidence of indebtedness (or any person acting on
such holder&#146;s behalf) the right to require the repurchase, redemption or repayment of all or a portion of such indebtedness by the Company or any of its subsidiaries. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(9) <U>Absence of Existing Defaults and Conflicts</U>. Neither the Company nor any of its subsidiaries is (i)&nbsp;in violation
of its respective declaration of trust, partnership agreement, charter or bylaws or other organizational document or (ii)&nbsp;in default (or with the giving of notice or lapse of time would be in default) under any existing obligation, agreement,
covenant or condition contained in any indenture, loan agreement, mortgage, lease or other agreement or instrument to which any of them is a party or by which any of them is bound or to which any of the properties of any of them is subject or
(iii)&nbsp;in violation of any law or statute or any judgment, order, rule or regulation of any court or arbitrator or governmental or regulatory authority, except, in the case of clauses (ii)&nbsp;and (iii) above, for any such default or violation
that would not, individually or in the aggregate, have a Material Adverse Effect or materially and adversely affect the ability of the Company to perform its obligations under this Agreement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(10) <U>Authorization of Agreement</U>. This Agreement has been duly authorized, executed and delivered by the Company. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(11) <U>Possession of Licenses and Permits</U>. The Company and its subsidiaries possess, and are in compliance with the terms
of, all certificates, authorizations, franchises, licenses and permits (&#147;<U>Licenses</U>&#148;) necessary or material to the conduct of the business now conducted or proposed in the Registration Statement and the Prospectus to be conducted by
them and have not received any notice of proceedings relating to the revocation or modification of any Licenses that, if determined adversely to the Company or any of its subsidiaries, would individually or in the aggregate have a Material Adverse
Effect. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(12) <U>Absence of Labor Dispute</U>. No labor dispute with the employees of the Company or any of its
subsidiaries exists or, to the knowledge of the Company, is imminent, and the Company is not aware of any existing or imminent labor disturbance by the employees of any of its or its subsidiaries&#146; principal suppliers, contractors or customers,
that, in any such case, would have a Material Adverse Effect. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">9 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(13) <U>Possession of Intellectual Property</U>. The Company and its subsidiaries
own, possess or can acquire on reasonable terms, adequate trademarks, trade names and other rights to inventions, <FONT STYLE="white-space:nowrap">know-how,</FONT> patents, copyrights, confidential information and other intellectual property
(collectively, &#147;intellectual property rights&#148;) necessary to conduct the business now operated by them, or presently employed by them, and have not received any notice of infringement of or conflict with asserted rights of others with
respect to any intellectual property rights that, if determined adversely to the Company or any of its subsidiaries, would individually or in the aggregate have a Material Adverse Effect. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(14) <U>Environmental Laws</U>. Except as disclosed in the Registration Statement and the Prospectus, neither the Company nor
any of its subsidiaries is in violation of any statute, any rule, regulation, decision or order of any governmental agency or body or any court, domestic or foreign, relating to the use, disposal or release of hazardous or toxic substances or
relating to the protection or restoration of the environment or human exposure to hazardous or toxic substances (collectively, &#147;environmental laws&#148;), owns or operates any real property contaminated with any substance that is subject to any
environmental laws, is liable for any <FONT STYLE="white-space:nowrap">off-site</FONT> disposal or contamination pursuant to any environmental laws, or is subject to any claim relating to any environmental laws, which violation, contamination,
liability or claim would individually or in the aggregate have a Material Adverse Effect; and the Company is not aware of any pending investigation which might lead to such a claim. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(15) <U>Accurate Disclosure</U>. The statements in, or incorporated by reference into, the Registration Statement and the
Prospectus under the headings &#147;Description of Shares,&#148; &#147;Description of Common Shares,&#148; &#147;Material U.S. Federal Income Tax Considerations&#148; and &#147;Risk Factors&#148; and the statements in the Registration Statement
under Item 15 insofar as such statements summarize legal matters, agreements, documents or proceedings discussed therein, are accurate and fair summaries of such legal matters, agreements, documents or proceedings and present the information
required to be shown in all material respects. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(16) <U>REIT Status</U>. With respect to all tax periods regarding which
the Internal Revenue Service is or will be entitled to assert any claim, the Company has met the requirements for qualification as a real estate investment trust (&#147;<U>REIT</U>&#148;) under Sections 856 through 860 of the Internal Revenue Code,
as amended (the &#147;<U>Code</U>&#148;), and the Company&#146;s current organization and present and contemplated operations, assets and income as described in the Registration Statement and the Prospectus will permit the Company to continue to
meet such requirements. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(17) <U>Insurance</U>. The Company and its subsidiaries are insured by insurers of recognized
financial responsibility against such losses and risks and in such amounts as are prudent and customary in the businesses in which they are engaged; the Company has no reason to believe that it or any of its subsidiaries will not be able to renew
its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business at a cost that would not have a Material Adverse Effect; and the Company and each of
its subsidiaries has obtained title insurance on all of the properties owned by each of them in an amount at least equal to the original purchase price to acquire land and improvements and such title insurance is in full force and effect. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">10 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(18) <U>Taxes</U>. The Company has filed all federal, state and foreign income
tax returns that have been required to be filed and has paid all taxes indicated by said returns and all assessments, fines and penalties received by it to the extent that such taxes, assessments, fines or penalties have become due. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(19) <U>Statistical and Market-Related Data</U>. Any third-party statistical and market-related data included or incorporated
by reference in the Registration Statement or the Prospectus are based on or derived from sources that the Company believes to be reliable and accurate. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(20) <U>Compliance with Sarbanes-Oxley Act</U>. Except as set forth in the Registration Statement and the Prospectus,
(i)&nbsp;the Company, its subsidiaries and the Company&#146;s Board of Trustees (the &#147;<U>Board</U>&#148;) are in compliance in all material respects with Sarbanes-Oxley (as defined below) and all applicable Exchange Rules (as defined below);
(ii)&nbsp;the Company has adopted and disclosed corporate governance guidelines; (iii)&nbsp;the Company maintains a system of internal controls, including, but not limited to, disclosure controls and procedures, internal control over financial
reporting, an internal audit function and legal and regulatory compliance controls (collectively, &#147;<U>Internal Controls</U>&#148;), which complies with the Securities Laws (as defined below) and is overseen by the Audit Committee (the
&#147;<U>Audit Committee</U>&#148;) of the Board in accordance with Exchange Rules; (iv)&nbsp;since December&nbsp;31, 2009, the Company has not publicly disclosed or reported to the Audit Committee or the Board, and within the next 90 days the
Company does not reasonably expect to publicly disclose or report to the Audit Committee or the Board, a significant deficiency, material weakness, change in Internal Controls or fraud involving management or other employees who have a significant
role in Internal Controls (each, an &#147;<U>Internal Control Event</U>&#148;), any violation of, or failure to comply with, the Securities Laws, or any matter which, if determined adversely, would have a Material Adverse Effect; and
(v)&nbsp;&#147;Securities Laws&#148; means, collectively, the Sarbanes-Oxley Act of 2002 (&#147;<U>Sarbanes-Oxley</U>&#148;), the Securities Act, the Exchange Act, the rules and regulations of the Commission, the auditing principles, rules,
standards and practices applicable to auditors of &#147;issuers&#148; (as defined in Sarbanes-Oxley) promulgated or approved by the Public Company Accounting Oversight Board (&#147;<U>PCAOB Rules</U>&#148; and &#147;<U>PCAOB</U>,&#148;
respectively), and, as applicable, the rules of the New York Stock Exchange (&#147;<U>Exchange Rules</U>&#148;). There is and has been no failure on the part of the Company and any of the Company&#146;s trustees or officers, in their capacities as
such, to comply with Sarbanes-Oxley Section&nbsp;402 relating to loans and there is and has been no material failure on the part of the Company and any of the Company&#146;s trustees or officers, in their capacities as such to comply with
Sarbanes-Oxley Sections 302 and 906 relating to certifications. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(21) <U>Litigation</U>. Except as disclosed in the
Registration Statement and the Prospectus, there are no pending actions, suits or proceedings (including any inquiries or investigations by any court or governmental agency or body, domestic or foreign) against or affecting the Company, any of its
subsidiaries or any of their respective properties that, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">11 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
if determined adversely to the Company or any of its subsidiaries, would individually or in the aggregate have a Material Adverse Effect, or would materially and adversely affect the ability of
the Company to perform its obligations under this Agreement, or which are otherwise material in the context of the sale of the Securities; and no such actions, suits or proceedings (including any inquiries or investigations by any court or
governmental agency or body, domestic or foreign) are threatened or, to the Company&#146;s knowledge, contemplated. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(22)
<U>No Registration Rights</U>. No holders of securities of the Company have rights to the registration of such securities under the Registration Statement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(23) <U>Financial Statements</U>. The consolidated historical financial statements and schedules of the Company and its
consolidated subsidiaries included in the Registration Statement and the Prospectus present fairly the financial condition, results of operations, shareholders&#146; equity and cash flows of the Company as of the dates and for the periods indicated,
comply as to form with the applicable accounting requirements of the Securities Act and have been prepared in conformity with generally accepted accounting principles applied on a consistent basis throughout the periods involved (except as otherwise
noted therein). The selected financial data set forth under the caption &#147;Selected Financial Information&#148; in the Registration Statement and the Prospectus fairly present, on the basis stated in the Registration Statement and the Prospectus,
the information included therein. The pro forma financial statements included in Registration Statement and the Prospectus include assumptions that provide a reasonable basis for presenting the significant effects directly attributable to the
transactions and events described therein, the related pro forma adjustments give appropriate effect to those assumptions, and the pro forma adjustments reflect the proper application of those adjustments to the historical financial statement
amounts in the pro forma financial statements included in the Registration Statement and the Prospectus. The pro forma financial statements included in the Registration Statement and the Prospectus comply as to form in all material respects with the
applicable accounting requirements of Regulation <FONT STYLE="white-space:nowrap">S-X</FONT> under the Securities Act and the pro forma adjustments have been properly applied to the historical amounts in the compilation of those statements. The
historical summaries of revenue and certain operating expenses included in the Registration Statement and the Prospectus present fairly the revenue and those operating expenses included in such summaries of the properties related thereto for the
periods specified in conformity with GAAP. Any information contained in the Registration Statement or the Prospectus regarding <FONT STYLE="white-space:nowrap">&#147;non-GAAP</FONT> financial measures&#148; (as defined in Regulation G of the
Commission) complies with Regulation G and Item 10 of Regulation <FONT STYLE="white-space:nowrap">S-K</FONT> of the Commission, to the extent applicable. The interactive data in eXtensible Business Reporting Language included or incorporated by
reference in the Registration Statement and the Prospectus fairly presents the information called for in all material respects and is prepared in accordance with the Commission&#146;s rules and guidelines applicable thereto. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(24) <U>Independent Accountants</U>. The accountants, who certified the financial statements and delivered their reports with
respect to the audited consolidated financial statements and supporting schedules included in the Registration Statement and the Prospectus, are independent registered public accountants with respect to the Company within the meaning of the
Securities Act and the applicable published rules and regulations thereunder. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">12 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(25) <U>No Prohibition on Dividends by Subsidiaries</U>. Except as otherwise
provided in a secured loan document relating to a property owned by a subsidiary, no Subsidiary of the Company is currently prohibited, directly or indirectly, from paying any dividends to the Company, from making any other distribution on such
Subsidiary&#146;s capital stock, from repaying to the Company any loans or advances to such subsidiary from the Company or from transferring any of such Subsidiary&#146;s property or assets to the Company or any other subsidiary of the Company,
except as described in or contemplated by the Registration Statement and the Prospectus (exclusive of any supplement thereto). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(26) <U>Absence of Manipulation</U>. The Company has not taken, directly or indirectly, any action designed to or that would
constitute or that might reasonably be expected to cause or result in stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Securities. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(27) <U>ERISA</U>. None of the following events has occurred or exists that would have a Material Adverse Effect: (i)&nbsp;a
failure to fulfill the obligations, if any, under the minimum funding standards of Section&nbsp;302 of the United States Employee Retirement Income Security Act of 1974, as amended (&#147;<U>ERISA</U>&#148;), and the regulations and published
interpretations thereunder with respect to a Plan, determined without regard to any waiver of such obligations or extension of any amortization period; (ii)&nbsp;an audit or investigation by the Internal Revenue Service, the U.S. Department of
Labor, the Pension Benefit Guaranty Corporation or any other federal or state governmental agency or any foreign regulatory agency with respect to the employment or compensation of employees by any of the Company or any of its subsidiaries;
(iii)&nbsp;any breach of any contractual obligation, or any violation of law or applicable qualification standards, with respect to the employment or compensation of employees by the Company or any of its subsidiaries. None of the following events
has occurred or is reasonably likely to occur: (i)&nbsp;a material increase in the aggregate amount of contributions required to be made to all Plans in the current fiscal year of the Company and its subsidiaries compared to the amount of such
contributions made in the most recently completed fiscal year of the Company and its subsidiaries; (ii)&nbsp;a material increase in the &#147;accumulated post-retirement benefit obligations&#148; (within the meaning of Statement of Financial
Accounting Standards 106) of the Company and its subsidiaries compared to the amount of such obligations in the most recently completed fiscal year of the Company and its subsidiaries; (iii)&nbsp;any event or condition giving rise to a liability
under Title IV of ERISA that would have a Material Adverse Effect; or (iv)&nbsp;the filing of a claim by one or more employees or former employees of the Company or any of its subsidiaries related to their employment that would have a Material
Adverse Effect. For purposes of this paragraph, the term &#147;Plan&#148; means a plan (within the meaning of Section&nbsp;3(3) of ERISA) subject to Title IV of ERISA with respect to which the Company or any of its subsidiaries may have any
liability. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">13 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(28) <U>Foreign Corrupt Practices Act</U>. Neither the Company nor any of its
subsidiaries nor, to the knowledge of the Company, any trustee, officer, agent, employee or affiliate of the Company or any of its subsidiaries is aware of or has taken any action, directly or indirectly, that would result in a violation by such
persons of the Foreign Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder (the &#147;<U>FCPA</U>&#148;), including, without limitation, making use of the mails or any means or instrumentality of interstate commerce
corruptly in furtherance of an offer, payment, promise to pay or authorization of the payment of any money, or other property, gift, promise to give, or authorization of the giving of anything of value to any &#147;foreign official&#148; (as such
term is defined in the FCPA) or any foreign political party or official thereof or any candidate for foreign political office, in contravention of the FCPA; and the Company, its subsidiaries and, to the knowledge of the Company, its other affiliates
have conducted their businesses in compliance with the FCPA. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(29) <U>Money Laundering Laws</U>. The operations of the
Company and its subsidiaries are and have been conducted at all times in compliance with applicable financial recordkeeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended, the money laundering
statutes of all applicable jurisdictions, the rules and regulations thereunder and any related or similar applicable rules, regulations or guidelines, issued, administered or enforced by any governmental agency (collectively, &#147;<U>Money
Laundering Laws</U>&#148;) and no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the Company or any of its subsidiaries with respect to the Money Laundering Laws is pending or,
to the knowledge of the Company, threatened. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(30) <U>OFAC</U>. Neither the Company nor any of its subsidiaries nor, to the
knowledge of the Company, any trustee, officer, agent, employee, affiliate or person acting on behalf of the Company or any of its subsidiaries is currently subject to any U.S. sanctions administered by the Office of Foreign Assets Control of the
U.S. Treasury Department (&#147;<U>OFAC</U>&#148;); and the Company will not directly or indirectly use any of the proceeds received by the Company from the sale of Securities contemplated by this Agreement, or lend, contribute or otherwise make
available any such proceeds to any subsidiary, joint venture partner or other person or entity, for the purpose of financing the activities of any person currently subject to any U.S. sanctions administered by OFAC. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(31) <U>Significant Subsidiaries</U>. The subsidiaries listed on <U>Exhibit D</U> attached hereto are the only significant
subsidiaries of the Company as defined by <FONT STYLE="white-space:nowrap">Rule&nbsp;1-02</FONT> of Regulation <FONT STYLE="white-space:nowrap">S-X.</FONT> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(32) <U>Lending Relationship</U>. Except as disclosed in the Registration Statement and the Prospectus, neither the Company nor
any of its subsidiaries has any outstanding borrowings from, or is a party to any line of credit, credit agreement or other credit facility or otherwise has a borrowing relationship with, any bank or other lending institution affiliated with Wells
Fargo Securities, and, except as disclosed in the Registration Statement and the Prospectus, the Company does not intend to use any of the proceeds from the sale of the Securities to repay any debt owed to Wells Fargo Securities or any affiliate
thereof. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">14 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(33) <U>No Other Contracts</U>. There are no contracts or documents that are
required to be described in the Registration Statement or the Prospectus or the documents incorporated by reference therein or to be filed as exhibits thereto that have not been so described and filed as required. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(34) <U>Investment Company Act</U>. The Company is not and, after giving effect to the offering and sale of the Securities and
the application of the proceeds thereof as described in the Registration Statement and the Prospectus, will not be an &#147;investment company&#148; as defined in the Investment Company Act of 1940 (the &#147;<U>Investment Company Act</U>&#148;).
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(35) <U>Finder&#146;s Fee</U>. Other than this Agreement, there are no contracts, agreements or understandings between the
Company and any person that would give rise to a valid claim against the Company or Wells Fargo Securities for a brokerage commission, finder&#146;s fee or other like payment as a result of any transactions contemplated by this Agreement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(36) <U>Proprietary Trading by Wells Fargo Securities</U>. The Company acknowledges and agrees that Wells Fargo Securities has
informed the Company that Wells Fargo Securities may, to the extent permitted under the Securities Act and the Exchange Act, purchase and sell shares of Common Stock for its own account and for the account of its clients while this Agreement is in
effect, and shall be under no obligation to purchase Securities on a principal basis pursuant to this Agreement, except as otherwise agreed by Wells Fargo Securities in the Placement Notice (as amended by the corresponding Acceptance, if
applicable); provided, that no such purchase or sales for Wells Fargo Securities&#146; own account shall take place while a Placement Notice is in effect (except (i)&nbsp;as agreed by Wells Fargo Securities in the Placement Notice (as amended by the
corresponding Acceptance, if applicable) or (ii)&nbsp;to the extent Wells Fargo Securities may engage in sales of Placement Securities purchased or deemed purchased from the Company as a &#147;riskless principal&#148; or in a similar capacity). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(37) <U>No Material Adverse Change in Business</U>. Except as disclosed in the Prospectus, since the end of the period covered
by the latest audited financial statements included in the Prospectus (i)&nbsp;there has been no change, nor any development or event involving a prospective change, in the condition (financial or otherwise), results of operations, business,
properties or prospects of the Company and its subsidiaries, taken as a whole that is material and adverse, (ii)&nbsp;except for ordinary quarterly dividends, there has been no dividend or distribution of any kind declared, paid or made by the
Company on any class of its capital stock and (iii)&nbsp;there has been no material adverse change in the capital stock, short-term indebtedness, long-term indebtedness, net current assets or net assets of the Company and its subsidiaries. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(38) <U>Actively Traded Security</U>. Except under circumstances where the Company has provided Wells Fargo Securities with the
notice required pursuant to Section&nbsp;7(x) of this Agreement, the Common Stock is an &#147;actively traded security&#148; excepted from the requirements of Rule 101 of Regulation M under the Exchange Act by subsection&nbsp;(c)(1) of such rule.
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">15 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(39) <U>NYSE</U>. The outstanding shares of Common Stock have been and the
Securities to be sold by the Company hereunder will have been approved for listing, subject only to official notice of issuance, on the NYSE, and are registered pursuant to Section&nbsp;12(b) of the Exchange Act, and the Company has taken no action
designed to, or likely to have the effect of, terminating the registration of the Securities under the Exchange Act or delisting any such securities from the NYSE, nor has the Company received any notification that the Commission or the NYSE is
contemplating terminating such registration or listing. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <I>Certificates</I>. Any certificate signed by any officer of the Company or
any of its subsidiaries and delivered to Wells Fargo Securities or to counsel for Wells Fargo Securities shall be deemed a representation and warranty by the Company to Wells Fargo Securities as to the matters covered thereby. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 6. <U>Sale and Delivery to Wells Fargo Securities; Settlement</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Sale of Placement Securities</I>. On the basis of the representations and warranties herein contained and subject to the terms and
conditions herein set forth, upon Wells Fargo Securities&#146; acceptance of the terms of a Placement Notice or upon receipt by Wells Fargo Securities of an Acceptance, as the case may be, and unless the sale of the Placement Securities described
therein has been declined, suspended, or otherwise terminated in accordance with the terms of this Agreement, Wells Fargo Securities, for the period specified in the Placement Notice (as amended by the corresponding Acceptance, if applicable), will
use its commercially reasonable efforts consistent with its normal trading and sales practices to sell such Placement Securities up to the amount specified, and otherwise in accordance with the terms of such Placement Notice (as amended by the
corresponding Acceptance, if applicable). The Company acknowledges and agrees that (i)&nbsp;there can be no assurance that Wells Fargo Securities will be successful in selling Placement Securities, (ii)&nbsp;Wells Fargo Securities will incur no
liability or obligation to the Company or any other person or entity if it does not sell Placement Securities for any reason other than a failure by Wells Fargo Securities to use its commercially reasonable efforts consistent with its normal trading
and sales practices to sell such Placement Securities as required under this Section&nbsp;6 and (iii)&nbsp;Wells Fargo Securities shall be under no obligation to purchase Securities on a principal basis pursuant to this Agreement, except as
otherwise agreed by Wells Fargo Securities in the Placement Notice (as amended by the corresponding Acceptance, if applicable). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b)
<I>Settlement of Placement Securities</I>. Unless otherwise specified in the applicable Placement Notice (as amended by the corresponding Acceptance, if applicable), settlement for sales of Placement Securities will occur on the second (2<SUP
STYLE="font-size:85%; vertical-align:top">nd</SUP>) Trading Day (or such earlier day as is industry practice for <FONT STYLE="white-space:nowrap">regular-way</FONT> trading) following the date on which such sales are made (each, a
&#147;<U>Settlement Date</U>&#148;). The amount of proceeds to be delivered to the Company on a Settlement Date against receipt of the Placement Securities sold (the &#147;<U>Net Proceeds</U>&#148;) will be equal to the aggregate sales price
received by Wells Fargo Securities at which such Placement Securities were sold, after deduction for (i)&nbsp;Wells Fargo Securities&#146; commission, discount or other compensation for such sales payable by the Company pursuant to Section&nbsp;2
hereof, (ii)&nbsp;any other amounts due and payable by the Company to Wells Fargo Securities hereunder pursuant to Section&nbsp;8(a) hereof, and (iii)&nbsp;any transaction fees imposed by any governmental or self-regulatory organization in respect
of such sales. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">16 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <I>Delivery of Placement Securities</I>. On or before each Settlement Date, the Company will,
or will cause its transfer agent to, electronically transfer the Placement Securities being sold by crediting Wells Fargo Securities&#146; or its designee&#146;s account (provided Wells Fargo Securities shall have given the Company written notice of
such designee prior to the Settlement Date) at The Depository Trust Company through its Deposit and Withdrawal at Custodian System or by such other means of delivery as may be mutually agreed upon by the parties hereto which in all cases shall be
freely tradable, transferable, registered shares in good deliverable form. On each Settlement Date, Wells Fargo Securities will deliver the related Net Proceeds in same day funds to an account designated by the Company on, or prior to, the
Settlement Date. The Company agrees that if the Company, or its transfer agent (if applicable), defaults in its obligation to deliver Placement Securities on a Settlement Date, the Company agrees that in addition to and in no way limiting the rights
and obligations set forth in Section&nbsp;10(a) hereto, it will (i)&nbsp;hold Wells Fargo Securities harmless against any loss, liability, claim, damage, or expense whatsoever (including reasonable legal fees and expenses), as incurred, arising out
of or in connection with such default by the Company or its transfer agent and (ii)&nbsp;pay to Wells Fargo Securities any commission, discount, or other compensation to which it would otherwise have been entitled absent such default. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <I>Denominations; Registration</I>. Certificates for the Securities shall be in such denominations and registered in such names as Wells
Fargo Securities may request in writing at least one full business day before the Settlement Date. The Company shall deliver the Securities, if any, through the facilities of The Depository Trust Company unless Wells Fargo Securities shall otherwise
instruct. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) <I>Limitations on Offering Size</I>. Under no circumstances shall the Company cause or request the offer or sale of any
Securities, if after giving effect to the sale of such Securities, the aggregate offering price of the Securities sold pursuant to this Agreement would exceed the lesser of (A)&nbsp;together with all sales of Securities under the Alternative Equity
Distribution Agreements, the Maximum Amount, (B)&nbsp;the amount available for offer and sale under the currently effective Registration Statement and (C)&nbsp;the amount authorized from time to time to be issued and sold under this Agreement and
the Alternative Equity Distribution Agreements by the Company (which authorized amount shall be notified to Wells Fargo Securities in writing at any time upon Wells Fargo Securities&#146; written request during the pendency of an active Placement
Notice). Under no circumstances shall the Company cause or request the offer or sale of any Securities pursuant to this Agreement and the Alternative Equity Distribution Agreements at a price lower than the minimum price authorized from time to time
by the Company (which minimum price shall be notified to Wells Fargo Securities in writing at any time upon Wells Fargo Securities&#146; written request during the pendency of an active Placement Notice). Further, under no circumstances shall the
aggregate offering price of Securities sold pursuant to this Agreement and the Alternative Equity Distribution Agreements, including any separate underwriting or similar agreement covering principal transactions described in Section&nbsp;1 of this
Agreement, exceed the Maximum Amount. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">17 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) <I><FONT STYLE="white-space:nowrap">Black-out</FONT> Limitations</I>. Notwithstanding any
other provision of this Agreement, the Company shall not offer or sell, or instruct Wells Fargo Securities to offer or sell, any Securities through Wells Fargo Securities as agent (and, by notice to Wells Fargo Securities given by telephone
(confirmed promptly by telecopy or email), shall cancel any instructions for any such offer or sale of any Securities prior to the commencement of the periods referenced below), and Wells Fargo Securities shall not be obligated to make any such
offer or sale of Securities, (i)&nbsp;during any period in which the Company is, or could be deemed to be, in possession of material <FONT STYLE="white-space:nowrap">non-public</FONT> information or (ii)&nbsp;except as provided in
Section&nbsp;6(f)(1) hereof, at any time from and including the date on which the Company issues a press release containing, or shall otherwise publicly announce, its earnings, revenues or other operating results for a fiscal period or periods
(each, an &#147;<U>Earnings Announcement</U>&#148;) through and including the time that is 24 hours after the time that the Company files a Quarterly Report on Form <FONT STYLE="white-space:nowrap">10-Q</FONT> or an Annual Report on Form <FONT
STYLE="white-space:nowrap">10-K</FONT> (a &#147;<U>Filing Time</U>&#148;) that includes consolidated financial statements as of and for the same fiscal period or periods, as the case may be, covered by such Earnings Announcement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) If the Company wishes to offer or sell Securities to Wells Fargo Securities as agent at any time during the period from and
including an Earnings Announcement through and including the time that is 24 hours after the corresponding Filing Time, the Company shall first (i)&nbsp;prepare and deliver to Wells Fargo Securities (with a copy to counsel to Wells Fargo Securities)
a Current Report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> that includes substantially the same financial and related information (together with management&#146;s discussion and analysis thereof) that was included in such Earnings
Announcement (other than any earnings projections and similar forward-looking data and officers&#146; quotations) (each, an &#147;<U>Earnings <FONT STYLE="white-space:nowrap">8-K</FONT></U>&#148;), in form and substance reasonably satisfactory to
Wells Fargo Securities, and, prior to its filing, obtain the written consent of Wells Fargo Securities to such filing (which consent shall not be unreasonably withheld or delayed), (ii) provide Wells Fargo Securities with the officers&#146;
certificate, opinions and letters of counsel and accountants&#146; letter specified in Section&nbsp;7(o), (p) and (q), respectively, hereof, (iii)&nbsp;afford Wells Fargo Securities the opportunity to conduct a due diligence review in accordance
with Section&nbsp;7(m) hereof prior to filing such Earnings <FONT STYLE="white-space:nowrap">8-K</FONT> and (iv)&nbsp;file such Earnings <FONT STYLE="white-space:nowrap">8-K</FONT> with the Commission, then the provision of clause (ii)&nbsp;of
Section&nbsp;6(f) shall not be applicable for the period from and after the time at which the foregoing conditions shall have been satisfied (or, if later, the time that is 24 hours after the time that the relevant Earnings Announcement was first
publicly released) through and including the time that is 24 hours after the Filing Time of the relevant Quarterly Report on Form <FONT STYLE="white-space:nowrap">10-Q</FONT> or Annual Report on Form <FONT STYLE="white-space:nowrap">10-K,</FONT> as
the case may be. For purposes of clarity, the parties hereto agree that (A)&nbsp;the delivery of any officers&#146; certificate, opinion or letter of counsel or accountants&#146; letter pursuant to this Section&nbsp;6(f) shall not relieve the
Company from any of its obligations under this Agreement with respect to any Quarterly Report on Form <FONT STYLE="white-space:nowrap">10-Q</FONT> or Annual Report on Form <FONT STYLE="white-space:nowrap">10-K,</FONT> as the case may be, including,
without limitation, the obligation to deliver officers&#146; certificates, opinions and letters of counsel and accountants&#146; letters as provided in Section&nbsp;7(o), (p) and (q), respectively, hereof, and (B)&nbsp;this Section&nbsp;6(f) shall
in no way affect or limit the operation of clause (i)&nbsp;of Section&nbsp;6(f) hereof, which shall have independent application. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">18 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 7. <U>Covenants of the Company</U>. The Company covenants with Wells Fargo Securities as
follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Registration Statement Amendments; Payment of Fees</I>. After the date of this Agreement and during any period in which a
Prospectus relating to any Placement Securities is required to be delivered by Wells Fargo Securities under the Securities Act (including in circumstances where such requirement may be satisfied pursuant to Rule 172 under the Securities Act), (i)
the Company will notify Wells Fargo Securities promptly of the time when any subsequent amendment to the Registration Statement, other than documents incorporated by reference, has been filed with the Commission and/or has become effective or any
subsequent supplement to the Prospectus has been filed and of any comment letter from the Commission or any request by the Commission for any amendment or supplement to the Registration Statement or Prospectus or for additional information;
(ii)&nbsp;the Company will prepare and file with the Commission, promptly upon Wells Fargo Securities&#146; request, any amendments or supplements to the Registration Statement or Prospectus that, in Wells Fargo Securities&#146; reasonable opinion,
may be necessary or advisable in connection with the distribution of the Placement Securities by Wells Fargo Securities (<I>provided</I>, <I>however</I>, that the failure of Wells Fargo Securities to make such request shall not relieve the Company
of any obligation or liability hereunder, or affect Wells Fargo Securities&#146; right to rely on the representations and warranties made by the Company in this Agreement); (iii) the Company will not file any amendment or supplement to the
Registration Statement or Prospectus, other than documents incorporated by reference, relating to the Placement Securities or a security convertible into the Placement Securities unless a copy thereof has been submitted to Wells Fargo Securities
within a reasonable period of time before the filing and Wells Fargo Securities has not reasonably objected thereto (<I>provided</I>, <I>however</I>, that the failure of Wells Fargo Securities to make such objection shall not relieve the Company of
any obligation or liability hereunder, or affect Wells Fargo Securities&#146; right to rely on the representations and warranties made by the Company in this Agreement) and the Company will furnish to Wells Fargo Securities at the time of filing
thereof a copy of any document that upon filing is deemed to be incorporated by reference into the Registration Statement or Prospectus, except for those documents available via EDGAR; and (iv)&nbsp;the Company will cause each amendment or
supplement to the Prospectus, other than documents incorporated by reference, to be filed with the Commission as required pursuant to the applicable paragraph of Rule 424(b) of the Securities Act (without reliance on Rule 424(b)(8) of the Securities
Act). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <I>Notice of Commission Stop Orders</I>. The Company will advise Wells Fargo Securities, promptly after it receives notice or
obtains knowledge thereof, of the issuance or threatened issuance by the Commission of any stop order suspending the effectiveness of the Registration Statement or of any other order preventing or suspending the use of the Prospectus or any Issuer
Free Writing Prospectus, or of the suspension of the qualification of the Placement Securities for offering or sale in any jurisdiction or of the loss or suspension of any exemption from any such qualification, or of the initiation or threatening of
any proceedings for any of such purposes, or of any examination pursuant to Section&nbsp;8(e) of the Securities Act concerning the Registration Statement or if the Company becomes the subject of a proceeding under Section&nbsp;8A of the Securities
Act in connection with the offering of the Securities. The Company will make every reasonable effort to prevent the issuance of any stop order, the suspension of any qualification of the Securities for offering or sale and any loss or suspension of
any exemption from any such qualification, and if any such stop order is issued or any such suspension or loss occurs, to obtain the lifting thereof at the earliest possible moment. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">19 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <I>Delivery of Registration Statement and Prospectus</I>. The Company will furnish to Wells
Fargo Securities and its counsel (at the expense of the Company) copies of the Registration Statement, the Prospectus (including all documents incorporated by reference therein) and all amendments and supplements to the Registration Statement or
Prospectus, and any Issuer Free Writing Prospectuses, that are filed with the Commission during any period in which a Prospectus relating to the Placement Securities is required to be delivered under the Securities Act (including all documents filed
with the Commission during such period that are deemed to be incorporated by reference therein), in each case as soon as reasonably practicable and in such quantities and at such locations as Wells Fargo Securities may from time to time reasonably
request. The copies of the Registration Statement and the Prospectus and any supplements or amendments thereto furnished to Wells Fargo Securities will be identical to the electronically transmitted copies thereof filed with the Commission pursuant
to EDGAR, except to the extent permitted by Regulation <FONT STYLE="white-space:nowrap">S-T.</FONT> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <I>Continued Compliance with
Securities Laws</I>. If at any time when a Prospectus is required by the Securities Act or the Exchange Act to be delivered in connection with a pending sale of the Placement Securities (including, without limitation, pursuant to Rule 172), any
event shall occur or condition shall exist as a result of which it is necessary, in the opinion of counsel for Wells Fargo Securities or for the Company, to amend the Registration Statement or amend or supplement the Prospectus in order that the
Prospectus will not include any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein not misleading in the light of the circumstances existing at the time it is delivered to a
purchaser, or if it shall be necessary, in the opinion of such counsel, at any such time to amend the Registration Statement or amend or supplement the Prospectus in order to comply with the requirements of the Securities Act, the Company will
promptly notify Wells Fargo Securities to suspend the offering of Placement Securities during such period and the Company will promptly prepare and file with the Commission such amendment or supplement as may be necessary to correct such statement
or omission or to make the Registration Statement or the Prospectus comply with such requirements, and the Company will furnish to Wells Fargo Securities such number of copies of such amendment or supplement as Wells Fargo Securities may reasonably
request. If at any time following issuance of an Issuer Free Writing Prospectus there occurred or occurs an event or development as a result of which such Issuer Free Writing Prospectus conflicted, conflicts or would conflict with the information
contained in the Registration Statement or the Prospectus or included, includes or would include an untrue statement of a material fact or omitted, omits or would omit to state a material fact necessary in order to make the statements therein, in
the light of the circumstances, prevailing at that subsequent time, not misleading, the Company will promptly notify Wells Fargo Securities to suspend the offering of Placement Securities during such period and the Company will, subject to
Section&nbsp;7(a) hereof, promptly amend or supplement such Issuer Free Writing Prospectus to eliminate or correct such conflict, untrue statement or omission. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">20 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) <I>Blue Sky and Other Qualifications</I>. The Company will use its best efforts, in
cooperation with Wells Fargo Securities, to qualify the Placement Securities for offering and sale, or to obtain an exemption for the Securities to be offered and sold, under the applicable securities laws of such states and other jurisdictions
(domestic or foreign) as Wells Fargo Securities may designate and to maintain such qualifications and exemptions in effect for so long as required for the distribution of the Securities (but in no event for less than one year from the date of this
Agreement); <I>provided</I>, <I>however</I>, that the Company shall not be obligated to file any general consent to service of process or to qualify as a foreign corporation or as a dealer in securities in any jurisdiction in which it is not so
qualified or to subject itself to taxation in respect of doing business in any jurisdiction in which it is not otherwise so subject. In each jurisdiction in which the Placement Securities have been so qualified or exempt, the Company will file such
statements and reports as may be required by the laws of such jurisdiction to continue such qualification or exemption, as the case may be, in effect for so long as required for the distribution of the Placement Securities (but in no event for less
than one year from the date of this Agreement). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) <I>Rule 158</I>. The Company will timely file such reports pursuant to the Exchange
Act as are necessary in order to make generally available to its securityholders as soon as reasonably practicable an earnings statement for the purposes of, and to provide to Wells Fargo Securities the benefits contemplated by, the last paragraph
of Section&nbsp;11(a) of the Securities Act. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) <I>Use of Proceeds</I>. The Company will use the net proceeds received by it from the
sale of the Securities in the manner specified in the Prospectus under &#147;Use of Proceeds.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) <I>Listing</I>. During any period
in which the Prospectus relating to the Placement Securities is required to be delivered by Wells Fargo Securities under the Securities Act with respect to a pending sale of the Placement Securities (including in circumstances where such requirement
may be satisfied pursuant to Rule 172 under the Securities Act), the Company will use its commercially reasonable efforts to cause the Placement Securities to be listed on the NYSE. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) <I>Filings with the NYSE</I>. The Company will timely file with the NYSE all material documents and notices required by the NYSE of
companies that have or will issue securities that are traded on the NYSE. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) <I>Reporting Requirements</I>. The Company, during any
period when the Prospectus is required to be delivered under the Securities Act and the Exchange Act (including in circumstances where such requirement may be satisfied pursuant to Rule 172 under the Securities Act), will file all documents required
to be filed with the Commission pursuant to the Exchange Act within the time periods required by the Exchange Act. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k) <I>Notice of Other
Sales</I>. During the pendency of any Placement Notice delivered hereunder (as amended by the corresponding Acceptance, if applicable), the Company will not, without giving Wells Fargo Securities at least one (1)&nbsp;business day prior written
notice specifying the nature of the proposed sale and the date of such proposed sale , (A) offer, pledge, announce the intention to sell, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant
any option, right or warrant for the sale of, lend or otherwise transfer or dispose of, directly or indirectly, any Common Stock or securities convertible into or exchangeable or exercisable for or repayable with Common Stock, or file any
registration statement under the 1933 Act with respect to any of the foregoing (other than a shelf </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">21 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
registration statement under Rule 415 under the 1933 Act, a registration statement on Form <FONT STYLE="white-space:nowrap">S-8</FONT> or post-effective amendment to the Registration Statement)
or (B)&nbsp;enter into any swap or other agreement or any transaction that transfers in whole or in part, directly or indirectly, any of the economic consequence of ownership of the Common Stock, or any securities convertible into or exchangeable or
exercisable for or repayable with Common Stock, whether any such swap or transaction described in clause (A)&nbsp;or (B) above is to be settled by delivery of Common Stock or such other securities, in cash or otherwise. The foregoing sentence shall
not apply to (i)&nbsp;the Common Stock to be offered and sold through Wells Fargo Securities and the Alternative Placement Agents pursuant to this Agreement and the Alternative Equity Distribution Agreements, (ii)&nbsp;any shares of Common Stock
issued by the Company upon the exercise of an option or warrant or the conversion, redemption or exchange of a security outstanding at the time such Placement Notice is delivered, including Common Stock issuable upon exchange of operating
partnership units of any operating partnership subsidiary of the Company (&#147;OP Units&#148;), (iii) any issuances of OP Units, (iv)&nbsp;Common Stock issuable pursuant to the Company&#146;s direct dividend reinvestment plan as it may be amended
or replaced from time to time, and (v)&nbsp;equity incentive awards approved by the Board or the compensation committee thereof or the issuance of Common Stock upon exercise thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(l) <I>Change of Circumstances</I>. The Company will, at any time during a fiscal quarter in which the Company intends to tender a Placement
Notice or sell Placement Securities, advise Wells Fargo Securities promptly after it shall have received notice or obtained knowledge thereof, of any information or fact that would alter or affect in any material respect any opinion, certificate,
letter or other document provided to Wells Fargo Securities pursuant to this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(m) <I>Due Diligence Cooperation</I>. The Company
will cooperate with any reasonable due diligence review conducted by Wells Fargo Securities or its agents in connection with the transactions contemplated hereby, including, without limitation, providing information and making available documents
and senior officers, during regular business hours and at the Company&#146;s principal offices, as Wells Fargo Securities may reasonably request. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(n) <I>Representation Dates; Certificate</I>. On or prior to the date that the first Securities are sold pursuant to the terms of this
Agreement and: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) each time the Company: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) files the Prospectus relating to the Placement Securities or amends or supplements the Registration Statement or the
Prospectus relating to the Placement Securities by means of a post-effective amendment, sticker, or supplement but not by means of incorporation of documents by reference into the Registration Statement or the Prospectus relating to the Placement
Securities; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) files an annual report on Form <FONT STYLE="white-space:nowrap">10-K</FONT> under the Exchange Act; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) files a quarterly report on Form <FONT STYLE="white-space:nowrap">10-Q</FONT> under the Exchange Act; or </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">22 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) files a report on Form <FONT STYLE="white-space:nowrap">8-K</FONT>
containing amended financial information (other than an earnings release, to &#147;furnish&#148; information pursuant to Items 2.02 or 7.01 of Form <FONT STYLE="white-space:nowrap">8-K)</FONT> under the Exchange Act; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) at any other time reasonably requested by Wells Fargo Securities (each such date of filing of one or more of the documents
referred to in clauses (1)(i) through (iv)&nbsp;and any time of request pursuant to this Section&nbsp;7(n) shall be a &#147;<U>Representation Date</U>&#148;), </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">the Company shall furnish Wells Fargo Securities with a certificate, in the form attached hereto as <U>Exhibit F</U> within two
(2)&nbsp;Trading Days of any Representation Date. Except as otherwise notified by Wells Fargo Securities with respect to a Representation Date on which the Company files its Form <FONT STYLE="white-space:nowrap">10-K,</FONT> the requirement to
provide a certificate under this Section&nbsp;7(n) shall be waived for any Representation Date occurring at a time at which no Placement Notice (as amended by the corresponding Acceptance, if applicable) is pending, which waiver shall continue until
the earlier to occur of the date the Company delivers a Placement Notice hereunder (which for such calendar quarter shall be considered a Representation Date) and the next occurring Representation Date. Notwithstanding the foregoing, if the Company
subsequently decides to sell Placement Securities following a Representation Date when the Company relied on such waiver and did not provide Wells Fargo Securities with a certificate under this Section&nbsp;7(n), then before the Company delivers the
Placement Notice or Wells Fargo Securities sells any Placement Securities, the Company shall provide Wells Fargo Securities with a certificate, in the form attached hereto as <U>Exhibit F</U>, dated the date of the Placement Notice. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(o) <I>Legal Opinions.</I> On or prior to the date that the first Securities are sold pursuant to the terms of this Agreement, within two
(2)&nbsp;Trading Days of each Representation Date with respect to which the Company is obligated to deliver a certificate in the form attached hereto as <U>Exhibit F</U> for which no waiver is applicable, the Company shall cause to be furnished to
Wells Fargo Securities written opinions of Hogan Lovells US LLP (&#147;<U>Company Counsel</U>&#148;), or other counsel satisfactory to Wells Fargo Securities, in form and substance satisfactory to Wells Fargo Securities and its counsel, dated the
date that the opinions are required to be delivered, substantially similar to the forms attached hereto as <U>Exhibit E</U>, modified, as necessary, to relate to the Registration Statement and the Prospectus as then amended or supplemented;
<I>provided</I>, <I>however</I>, that in lieu of such opinions for subsequent Representation Dates, counsel may furnish Wells Fargo Securities with a letter (a &#147;<U>Reliance Letter</U>&#148;) to the effect that Wells Fargo Securities may rely on
a prior opinion delivered under this Section&nbsp;7(o) to the same extent as if it were dated the date of such letter (except that statements in such prior opinion shall be deemed to relate to the Registration Statement and the Prospectus as amended
or supplemented at such Representation Date). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(p) <I>Comfort Letter</I>. On or prior to the date that the first Securities are sold
pursuant to the terms of this Agreement, within two (2)&nbsp;Trading Days of each Representation Date with respect to which the Company is obligated to deliver a certificate substantially in the form attached hereto as <U>Exhibit F</U> for which no
waiver is applicable, the Company shall cause its independent accountants (and any other independent accountants whose report is included in the Registration Statement or the Prospectus) to furnish Wells Fargo Securities letters (the
&#147;<U>Comfort Letters</U>&#148;), dated the date of the Comfort Letter is delivered, in form and substance satisfactory to </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">23 </P>


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Wells Fargo Securities, (i)&nbsp;confirming that they are an independent registered public accounting firm within the meaning of the Securities Act, the Exchange Act and the PCAOB,
(ii)&nbsp;stating, as of such date, the conclusions and findings of such firm with respect to the financial information and other matters ordinarily covered by accountants&#146; &#147;comfort letters&#148; to underwriters in connection with
registered public offerings (the first such letter, the &#147;<U>Initial Comfort Letter</U>&#148;) and (iii)&nbsp;updating the Initial Comfort Letter with any information that would have been included in the Initial Comfort Letter had it been given
on such date and modified as necessary to relate to the Registration Statement and the Prospectus, as amended and supplemented to the date of such letter. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(q) <I>Market Activities</I>. The Company will not, directly or indirectly, (i)&nbsp;take any action designed to cause or result in, or that
constitutes or might reasonably be expected to constitute, the stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Securities or (ii)&nbsp;sell, bid for, or purchase the Securities to be
issued and sold pursuant to this Agreement, or pay anyone any compensation for soliciting purchases of the Securities to be issued and sold pursuant to this Agreement other than Wells Fargo Securities; <I>provided</I>, <I>however</I>, that the
Company may bid for and purchase its Common Stock in accordance with Rule <FONT STYLE="white-space:nowrap">10b-18</FONT> under the Exchange Act; and provided further, that no such bids or purchases shall be made by the Company during the two
(2)&nbsp;Trading Days before or after any sale of any Securities pursuant to this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(r) <I>Insurance</I>. The Company and its
subsidiaries shall maintain, or caused to be maintained, insurance in such amounts and covering such risks as is reasonable and customary for companies engaged in similar businesses in similar industries, except where the failure to maintain such
insurance would not have a Material Adverse Effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(s) <I>Compliance with Laws</I>. The Company and each of its subsidiaries shall
maintain, or cause to be maintained, all material environmental permits, licenses and other authorizations required by federal, state and local law in order to conduct their businesses as described in the Prospectus, and the Company and each of its
subsidiaries shall conduct their businesses, or cause their businesses to be conducted, in substantial compliance with such permits, licenses and authorizations and with applicable environmental laws, except where the failure to maintain or be in
compliance with such permits, licenses and authorizations could not reasonably be expected to have a Material Adverse Effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(t)
<I>Investment Company Act</I>. The Company will conduct its affairs in such a manner so as to reasonably ensure that neither it nor its subsidiaries will be or become, at any time prior to the termination of this Agreement, an &#147;investment
company,&#148; as such term is defined in the Investment Company Act, assuming no change in the Commission&#146;s current interpretation as to entities that are not considered an investment company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(u) <I>Securities Act and Exchange Act</I>. The Company will use its best efforts to comply with all requirements imposed upon it by the
Securities Act and the Exchange Act as from time to time in force, so far as necessary to permit the continuance of sales of, or dealings in, the Placement Securities as contemplated by the provisions hereof and the Prospectus. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">24 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) <I>No Offer to Sell</I>. Other than a free writing prospectus (as defined in Rule 405 under
the Securities Act) approved in advance in writing by the Company and the Agents in their respective capacities as a principal or agent hereunder or under the Alternative Equity Distribution Agreements, the Company (including its agents and
representatives, other than the Agents in their respective capacities as such) will not, directly or indirectly, make, use, prepare, authorize, approve or refer to any free writing prospectus relating to the Securities to be sold by the Agents as
principal or agent hereunder or under an Alternative Equity Distribution Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(w) <I>Sarbanes-Oxley Act</I>. The Company and its
subsidiaries will use their best efforts to comply with all effective applicable provisions of the Sarbanes-Oxley Act of 2002. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(x)
<I>Regulation M</I>. If the Company has reason to believe that the exemptive provisions set forth in Rule 101(c)(1) of Regulation M under the Exchange Act are not satisfied with respect to the Company or the Common Stock, it shall promptly notify
Wells Fargo Securities and sales of the Placement Securities under this Agreement shall be suspended until that or other exemptive provisions have been satisfied in the judgment of each party. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(y) <I>REIT Treatment</I>. The Company currently intends to continue to elect to qualify as a REIT under the Code and will use its best
efforts to enable the Company to continue to meet the requirements for qualification and taxation as a REIT under the Code for subsequent tax years that include any portion of the term of this Agreement; unless the Company&#146;s Board in good faith
determines by resolution that it is in the best interests of the Company&#146;s stockholders not to meet such requirements. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 8.
<U>Payment of Expenses</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Expenses</I>. The Company will pay all expenses incident to the performance of its obligations under
this Agreement, including (i)&nbsp;the preparation, printing and filing of the Registration Statement (including financial statements and exhibits) as originally filed and of each amendment and supplement thereto, (ii)&nbsp;the word processing,
printing and delivery to Wells Fargo Securities of this Agreement and such other documents as may be required in connection with the offering, purchase, sale, issuance or delivery of the Placement Securities, (iii)&nbsp;the preparation, issuance and
delivery of the certificates for the Placement Securities to Wells Fargo Securities, including any stock or other transfer taxes and any capital duties, stamp duties or other duties or taxes payable upon the sale, issuance or delivery of the
Placement Securities to Wells Fargo Securities, (iv)&nbsp;the fees and disbursements of the counsel, accountants and other advisors to the Company, (v)&nbsp;the qualification or exemption of the Placement Securities under securities laws in
accordance with the provisions of Section&nbsp;7(e) hereof, including filing fees and the reasonable fees and disbursements of counsel for Wells Fargo Securities in connection therewith and in connection with the preparation of the Blue Sky Survey
and any supplements thereto (not to exceed $10,000), (vi) the printing and delivery to Wells Fargo Securities of copies of any permitted Free Writing Prospectus and the Prospectus and any amendments or supplements thereto and any costs associated
with electronic delivery of any of the foregoing by Wells Fargo Securities to investors, (vii)&nbsp;the preparation, printing and delivery to Wells Fargo Securities of copies of the Blue Sky Survey and any Canadian &#147;wrapper&#148; and any
supplements </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">25 </P>


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thereto, (viii)&nbsp;the fees and expenses of the custodian and the transfer agent and registrar for the Securities, (ix)&nbsp;the filing fees incident to, and the reasonable fees and
disbursements of counsel to Wells Fargo Securities in connection with, any review by FINRA of the terms of the sale of the Securities, (x)&nbsp;the fees and expenses incurred in connection with the listing of the Placement Securities on the NYSE,
and (xi)&nbsp;if Securities having an aggregate offering price of $25,000,000 or more have not been offered and sold under this Agreement and the Alternative Equity Distribution Agreements by the eighteen month anniversary of the date of this
Agreement (or such earlier date at which the Company terminates this Agreement) (the &#147;<U>Determination Date</U>&#148;), the Company shall reimburse Wells Fargo Securities and the Alternative Placement Agents for all of their reasonable <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">out-of-pocket</FONT></FONT> expenses, including the reasonable fees and disbursements of counsel for Wells Fargo Securities and the Alternative Placement Agents incurred by Wells Fargo
Securities and the Alternative Placement Agents in connection with the transactions contemplated by this Agreement (the &#147;<U>Expenses</U>&#148;); provided that the Company shall not be obligated to reimburse any such Expenses pursuant to this
Agreement and pursuant to the Alternative Equity Distribution Agreements in excess of $150,000 in the aggregate (and such $150,000 limit shall be reduced pro rata for any portion of such $25,000,000 of Securities actually sold pursuant to this
Agreement and the Alternative Distribution Agreements during such eighteen-month period (i.e., if, for example $6,250,000 of Securities are sold, such limit shall be $112,500; if, for example, $12,500,000 of Securities are sold, such limit shall be
$75,000; and if, for example, $18,750,000 of Securities are sold, such limit shall be $37,500)). The Expenses shall be due and payable by the Company to Wells Fargo Securities and the Alternative Placement Agents within five (5)&nbsp;business days
of the Determination Date. The Agents shall be solely responsible for allocating any reimbursement pursuant to this subsection among themselves. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <I>Termination of Agreement</I>. If this Agreement is terminated by Wells Fargo Securities in accordance with the provisions of
Section&nbsp;9(m) or Section&nbsp;13(a)(i) hereof, the Company shall reimburse Wells Fargo Securities for all of their out of pocket expenses, including the reasonable fees and disbursements of counsel for Wells Fargo Securities, unless Securities
having an aggregate offering price of $25,000,000 or more have previously been offered and sold under this Agreement and/or the Alternative Distribution Agreements. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 9. <U>Conditions of Wells Fargo Securities</U><U>&#146;</U><U> Obligations</U>. The obligations of Wells Fargo Securities hereunder
with respect to a Placement will be subject to the continuing accuracy and completeness of the representations and warranties of the Company contained in this Agreement and in certificates of any officer of the Company or any subsidiary of the
Company delivered pursuant to the provisions hereof, to the performance by the Company of its covenants and other obligations hereunder, and to the following further conditions: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Effectiveness of Registration Statement</I>. The Registration Statement and any Rule 462(b) Registration Statement shall have become
effective and shall be available for (i)&nbsp;all sales of Placement Securities issued pursuant to all prior Placement Notices (each as amended by a corresponding Acceptance, if applicable) and (ii)&nbsp;the sale of all Placement Securities
contemplated to be issued by any Placement Notice (each as amended by a corresponding Acceptance, if applicable). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">26 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <I>No Material Notices</I>. None of the following events shall have occurred and be
continuing: (i)&nbsp;receipt by the Company or any of its subsidiaries of any request for additional information from the Commission or any other federal or state governmental authority during the period of effectiveness of the Registration
Statement, the response to which would require any post-effective amendments or supplements to the Registration Statement or the Prospectus; (ii)&nbsp;the issuance by the Commission or any other federal or state governmental authority of any stop
order suspending the effectiveness of the Registration Statement or the initiation of any proceedings for that purpose; (iii)&nbsp;receipt by the Company of any notification with respect to the suspension of the qualification or exemption from
qualification of any of the Placement Securities for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; or (iv)&nbsp;the occurrence of any event that makes any material statement made in the Registration
Statement or the Prospectus, or any Issuer Free Writing Prospectus, or any material document incorporated or deemed to be incorporated therein by reference untrue in any material respect or that requires the making of any changes in the Registration
Statement, related Prospectus, or any Issuer Free Writing Prospectus, or such documents so that, in the case of the Registration Statement, it will not contain any materially untrue statement of a material fact or omit to state any material fact
required to be stated therein or necessary to make the statements therein not misleading and, that in the case of the Prospectus and any Issuer Free Writing Prospectus, it will not contain any materially untrue statement of a material fact or omit
to state any material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <I>No Material Misstatement or Omission</I>. Wells Fargo Securities shall not have advised the Company that the Registration Statement or
Prospectus, or any Issuer Free Writing Prospectus, or any amendment or supplement thereto, contains an untrue statement of fact that in Wells Fargo Securities&#146; reasonable opinion is material, or omits to state a fact that in Wells Fargo
Securities&#146; opinion is material and is required to be stated therein or is necessary to make the statements therein not misleading. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <I>Material Changes</I>. Except as contemplated in the Prospectus, or disclosed in the Company&#146;s reports filed with the Commission,
there shall not have been any material adverse change in the condition, financial or otherwise, or in the results of operations, business affairs or business prospects of the Company and its subsidiaries considered as one enterprise, whether or not
arising in the ordinary course of business. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) <I>Opinions of Counsel for Company</I>. Wells Fargo Securities shall have received the
favorable opinions of Company Counsel, required to be delivered pursuant to Section&nbsp;7(o) on or before the date on which such delivery of such opinions is required pursuant to Section&nbsp;7(o). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) <I>Representation Certificate</I>. Wells Fargo Securities shall have received the certificate required to be delivered pursuant to
Section&nbsp;7(n) on or before the date on which delivery of such certificate is required pursuant to Section&nbsp;7(n). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g)
<I>Accountant&#146;s Comfort Letter</I>. Wells Fargo Securities shall have received the Comfort Letter required to be delivered pursuant Section&nbsp;7(p) on or before the date on which such delivery of such opinion is required pursuant to
Section&nbsp;7(p). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">27 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) <I>Opinion of Counsel for Wells Fargo Securities</I>. On or prior to the date that the first
Securities are sold pursuant to the terms of this Agreement, within two (2)&nbsp;Trading Days of each Representation Date with respect to which the Company is obligated to deliver a certificate in the form attached hereto as <U>Exhibit F</U> for
which no waiver is applicable, Wells Fargo Securities shall have received the favorable written opinion or opinions of Goodwin Procter LLP, counsel for Wells Fargo Securities, dated such date, with respect to such matters as Wells Fargo Securities
may reasonably request. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) <I>Approval for Listing</I>. The Placement Securities shall either have been (i)&nbsp;approved for listing on
NYSE, subject only to notice of issuance, or (ii)&nbsp;the Company shall have filed an application for listing of the Placement Securities on NYSE at, or prior to, the issuance of any Placement Notice. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) <I>No Suspension</I>. Trading in the Securities shall not have been suspended on the NYSE. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k) <I>Additional Documents</I>. On each date on which the Company is required to deliver a certificate pursuant to Section&nbsp;7(n), counsel
for Wells Fargo Securities shall have been furnished with such documents and opinions as they may reasonably require for the purpose of enabling them to pass upon the issuance and sale of the Securities as herein contemplated, or in order to
evidence the accuracy of any of the representations or warranties, or the fulfillment of any of the conditions, contained in this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(l) <I>Securities Act Filings Made</I>. All filings with the Commission required by Rule 424 under the Securities Act to have been filed prior
to the issuance of any Placement Notice hereunder shall have been made within the applicable time period prescribed for such filing by Rule 424. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(m) <I>Termination of Agreement</I>. If any condition specified in this Section&nbsp;9 shall not have been fulfilled when and as required to
be fulfilled, this Agreement may be terminated by Wells Fargo Securities by notice to the Company, and such termination shall be without liability of any party to any other party except as provided in Section&nbsp;8 hereof and except that, in the
case of any termination of this Agreement, Sections&nbsp;5, 10, 11, 12 and 22 hereof shall survive such termination and remain in full force and effect. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 10. <U>Indemnification</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Indemnification by the Company</I>. The Company agrees to indemnify and hold harmless Wells Fargo Securities, its affiliates (as such
term is defined in Rule 501(b) of the Securities Act), and each person, if any, who controls Wells Fargo Securities within the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) against any and all loss, liability, claim, damage and expense whatsoever, as incurred, arising out of any untrue statement
or alleged untrue statement of a material fact contained in the Registration Statement (or any amendment thereto), including any information deemed to be a part thereof pursuant to Rule 430B, or the omission or alleged omission therefrom of a
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">28 </P>


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material fact required to be stated therein or necessary to make the statements therein not misleading, or arising out of any untrue statement or alleged untrue statement of a material fact
included (A)&nbsp;in any Issuer Free Writing Prospectus or the Prospectus (or any amendment or supplement thereto) or (B)&nbsp;in any materials or information provided to investors by, or with the approval of, the Company in connection with the
marketing of any offering of Securities (&#147;<U>Marketing Materials&#148;)</U>, including any roadshow or investor presentations made to investors by the Company (whether in person or electronically), or the omission or alleged omission therefrom
of a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) against any and all loss, liability, claim, damage and expense whatsoever, as incurred, to the extent of the aggregate
amount paid in settlement of any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or of any claim whatsoever based upon any such untrue statement or omission, or any such alleged untrue
statement or omission; provided that (subject to Section&nbsp;10(d) below) any such settlement is effected with the written consent of the Company; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) against any and all expense whatsoever, as incurred (including the fees and disbursements of counsel chosen by Wells
Fargo Securities), reasonably incurred in investigating, preparing or defending against any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or any claim whatsoever based upon any such
untrue statement or omission, or any such alleged untrue statement or omission, to the extent that any such expense is not paid under (i)&nbsp;or (ii) above, </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>provided</I>, <I>however</I>, that this indemnity agreement shall not apply to any loss, liability, claim, damage or expense to the extent arising out of
any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with information furnished to the Company in writing by Wells Fargo Securities expressly for use therein, it being understood and agreed
that the only such information furnished by Wells Fargo Securities as of the date hereof consists of the Agent Information. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b)
<I>Indemnification by Wells Fargo Securities</I>. Wells Fargo Securities agrees to indemnify and hold harmless the Company, its trustees, each of its officers who signed the Registration Statement, and each person, if any, who controls the Company
within the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act against any and all loss, liability, claim, damage and expense described in the indemnity contained in subsection (a)&nbsp;of this Section&nbsp;10, as
incurred, but only with respect to untrue statements or omissions, or alleged untrue statements or omissions, made in the Registration Statement (or any amendment thereto), any Issuer Free Writing Prospectus or the Prospectus (or any amendment or
supplement thereto) in reliance upon and in conformity with information furnished to the Company in writing by Wells Fargo Securities expressly for use therein, it being understood and agreed that the only such information furnished by Wells Fargo
Securities as of the date hereof consists of the Agent Information. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">29 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <I>Actions against Parties; Notification</I>. Each indemnified party shall give notice as
promptly as reasonably practicable to each indemnifying party of any action commenced against it in respect of which indemnity may be sought hereunder, but failure to so notify an indemnifying party shall not relieve such indemnifying party from any
liability hereunder to the extent it is not materially prejudiced as a result thereof and in any event shall not relieve it from any liability which it may have otherwise than on account of this indemnity agreement. Counsel to the indemnified
parties shall be selected as follows: counsel to Wells Fargo Securities and each person, if any, who controls Wells Fargo Securities within the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act shall be selected
by Wells Fargo Securities; and counsel to the Company, its trustees, each of its officers who signed the Registration Statement and each person, if any, who controls the Company within the meaning of Section&nbsp;15 of the Securities Act or
Section&nbsp;20 of the Exchange Act shall be selected by the Company. An indemnifying party may participate at its own expense in the defense of any such action; <I>provided</I>, <I>however</I>, that counsel to the indemnifying party shall not
(except with the consent of the indemnified party) also be counsel to the indemnified party. In no event shall the indemnifying parties be liable for the fees and expenses of more than one counsel (in addition to any local counsel) separate from
their own counsel for Wells Fargo Securities and each person, if any, who controls Wells Fargo Securities within the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act, and the fees and expenses of more than one
counsel (in addition to any local counsel) separate from their own counsel for the Company, its trustees, each of its officers who signed the Registration Statement and each person, if any, who controls the Company within the meaning of
Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act, in each case in connection with any one action or separate but similar or related actions in the same jurisdiction arising out of the same general allegations or
circumstances. No indemnifying party shall, without the prior written consent of the indemnified parties, settle or compromise or consent to the entry of any judgment with respect to any litigation, or any investigation or proceeding by any
governmental agency or body, commenced or threatened, or any claim whatsoever in respect of which indemnification or contribution could be sought under this Section&nbsp;10 or Section&nbsp;11 hereof (whether or not the indemnified parties are actual
or potential parties thereto), unless such settlement, compromise or consent (i)&nbsp;includes an unconditional release of each indemnified party from all liability arising out of such litigation, investigation, proceeding or claim and
(ii)&nbsp;does not include a statement as to or an admission of fault, culpability or a failure to act by or on behalf of any indemnified party. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <I>Settlement Without Consent if Failure to Reimburse</I>. If at any time an indemnified party shall have requested an indemnifying party
to reimburse the indemnified party for fees and expenses of counsel, such indemnifying party agrees that it shall be liable for any settlement of the nature contemplated by Section&nbsp;10(a)(ii) effected without its written consent if (i)&nbsp;such
settlement is entered into more than 45 days after receipt by such indemnifying party of the aforesaid request, (ii)&nbsp;such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement
being entered into and (iii)&nbsp;such indemnifying party shall not have reimbursed such indemnified party in accordance with such request prior to the date of such settlement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">30 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 11. <U>Contribution</U>. If the indemnification provided for in Section&nbsp;10 hereof is
for any reason unavailable to or insufficient to hold harmless an indemnified party in respect of any losses, liabilities, claims, damages or expenses referred to therein, then each indemnifying party shall contribute to the aggregate amount of such
losses, liabilities, claims, damages and expenses incurred by such indemnified party, as incurred, (i)&nbsp;in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and Wells Fargo Securities on
the other hand from the offering of the Securities pursuant to this Agreement or (ii)&nbsp;if the allocation provided by clause (i)&nbsp;is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative
benefits referred to in clause (i)&nbsp;above but also the relative fault of the Company on the one hand and of Wells Fargo Securities on the other hand in connection with the statements or omissions. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The relative benefits received by the Company on the one hand and Wells Fargo Securities on the other hand in connection with the offering of
the Securities pursuant to this Agreement shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Securities pursuant to this Agreement (before deducting expenses) received by the Company and the
total commissions received by Wells Fargo Securities, in each case as set forth on the cover of the Prospectus, bear to the aggregate public offering price of the Securities as set forth on such cover. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The relative fault of the Company on the one hand and Wells Fargo Securities on the other hand shall be determined by reference to, among
other things, whether the untrue or the alleged untrue statement of a material fact or omission or alleged omission to state a material fact relates to information supplied by the Company or by Wells Fargo Securities and the parties&#146; relative
intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company and Wells Fargo
Securities agree that it would not be just and equitable if contribution pursuant to this Section&nbsp;11 were determined by pro rata allocation or by any other method of allocation which does not take account of the equitable considerations
referred to above in this Section&nbsp;11. The aggregate amount of losses, liabilities, claims, damages and expenses incurred by an indemnified party and referred to above in this Section&nbsp;11 shall be deemed to include any legal or other
expenses reasonably incurred by such indemnified party in investigating, preparing or defending against any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or any claim whatsoever based
upon any such untrue or alleged untrue statement or omission or alleged omission. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Notwithstanding the provisions of this Section&nbsp;11,
Wells Fargo Securities shall not be required to contribute any amount in excess of the amount by which the total price at which the Securities underwritten by it and distributed to the public were offered to the public exceeds the amount of any
damages which Wells Fargo Securities has otherwise been required to pay by reason of any such untrue or alleged untrue statement or omission or alleged omission. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">No person guilty of fraudulent misrepresentation (within the meaning of Section&nbsp;11(f) of the Securities Act) shall be entitled to
contribution from any person who was not guilty of such fraudulent misrepresentation. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">31 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">For purposes of this Section&nbsp;11, each person, if any, who controls Wells Fargo Securities
within the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act shall have the same rights to contribution as Wells Fargo Securities, and each trustee of the Company, each officer of the Company who signed the
Registration Statement, and each person, if any, who controls the Company within the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act shall have the same rights to contribution as the Company. The Alternative
Placement Agents&#146; respective obligations to contribute pursuant to this Section&nbsp;11 are several in proportion to the number of Securities placed or underwritten by it in the applicable offering.<U> </U> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 12. <U>Representations, Warranties and Agreements to Survive Delivery</U>. All representations, warranties and agreements contained in
this Agreement or in certificates of officers of the Company or any of its subsidiaries submitted pursuant hereto, shall remain operative and in full force and effect, regardless of any investigation made by or on behalf of Wells Fargo Securities or
controlling person, or by or on behalf of the Company, and shall survive delivery of the Securities to Wells Fargo Securities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION
13. <U>Termination of Agreement</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Termination; General</I>. Wells Fargo Securities may terminate this Agreement, by notice to
the Company, as hereinafter specified at any time (i)&nbsp;if there has been, since the time of execution of this Agreement or since the date as of which information is given in the Prospectus, any material adverse change in the condition, financial
or otherwise, or in the results of operations, business affairs or business prospects of the Company and its subsidiaries considered as one enterprise, whether or not arising in the ordinary course of business, or (ii)&nbsp;if there has occurred any
material adverse change in the financial markets in the United States or the international financial markets, any outbreak of hostilities or escalation thereof or other calamity or crisis or any change or development involving a prospective change
in national or international political, financial or economic conditions, in each case the effect of which is such as to make it, in the judgment of Wells Fargo Securities, impracticable or inadvisable to market the Securities or to enforce
contracts for the sale of the Securities, or (iii)&nbsp;if trading in the Placement Securities has been suspended or limited by the Commission or the NYSE, or if trading generally on the NYSE American, the NYSE or the Nasdaq Stock Market has been
suspended or limited, or minimum or maximum prices for trading have been fixed, or maximum ranges for prices have been required, by any of said exchanges or by order of the Commission, the FINRA or any other governmental authority, or a material
disruption has occurred in commercial banking or securities settlement or clearance services in the United States or in Europe, or (iv)&nbsp;if a banking moratorium has been declared by either Federal or New York authorities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <I>Termination by the Company</I>. The Company shall have the right, by giving three (3)&nbsp;days&#146; notice as hereinafter specified
to terminate this Agreement in their sole discretion at any time after the date of this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <I>Termination by Wells Fargo
Securities</I>. Wells Fargo Securities shall have the right, by giving three (3)&nbsp;days&#146; notice as hereinafter specified to terminate this Agreement in its sole discretion at any time after the date of this Agreement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">32 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <I>Automatic Termination</I>. Unless earlier terminated pursuant to this Section&nbsp;13,
this Agreement shall automatically terminate upon the issuance and sale of all of the Placement Securities through Wells Fargo Securities and the Alternative Placement Agents on the terms and subject to the conditions set forth herein and in the
Alternative Equity Distribution Agreements with an aggregate sale price equal to the amount set forth in Section&nbsp;1 of this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) <I>Continued Force and Effect</I>. This Agreement shall remain in full force and effect unless terminated pursuant to Sections&nbsp;13(a),
(b), (c) or (d)&nbsp;above or otherwise by mutual agreement of the parties. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) <I>Effectiveness of Termination</I>. Any termination of
this Agreement shall be effective on the date specified in such notice of termination; <I>provided</I>, <I>however</I>, that such termination shall not be effective until the close of business on the date of receipt of such notice by Wells Fargo
Securities or the Company, as the case may be. If such termination shall occur prior to the Settlement Date for any sale of Placement Securities, such Placement Securities shall settle in accordance with the provisions of this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) <I>Liabilities</I>. If this Agreement is terminated pursuant to this Section&nbsp;13, such termination shall be without liability of any
party to any other party except as provided in Section&nbsp;8 hereof, and except that, in the case of any termination of this Agreement, Section&nbsp;5, Section&nbsp;10, Section&nbsp;11, Section&nbsp;12, and Section&nbsp;22 hereof shall survive such
termination and remain in full force and effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 14. <U>Notices</U>. Except as otherwise provided in this Agreement, all notices
and other communications hereunder shall be in writing and shall be deemed to have been duly given if mailed or transmitted by any standard form of telecommunication. Notices to Wells Fargo Securities shall be directed to Wells Fargo Securities at
Wells Fargo Securities, LLC, 375 Park Avenue, New York, New York 10152, Attention: Equity Syndicate Department (fax no.: (212) <FONT STYLE="white-space:nowrap">214-5918);</FONT> notices to the Company shall be directed to it at 1775 Eye Street NW,
Suite 1000, Washington, D.C. 20006, fax no. (212) <FONT STYLE="white-space:nowrap">379-3554,</FONT> Attention of Stephen E. Riffee, Chief Financial Officer, cc: Taryn D. Fielder, General Counsel. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 15. <U>Parties</U>. This Agreement shall inure to the benefit of and be binding upon Wells Fargo Securities, the Company and their
respective successors. Nothing expressed or mentioned in this Agreement is intended or shall be construed to give any person, firm or corporation, other than Wells Fargo Securities, the Company and their respective successors and the controlling
persons and officers and trustees referred to in Sections&nbsp;10 and 11 and their heirs and legal representatives, any legal or equitable right, remedy or claim under or in respect of this Agreement or any provision herein contained. This Agreement
and all conditions and provisions hereof are intended to be for the sole and exclusive benefit of Wells Fargo Securities, the Company and their respective successors, and said controlling persons and officers and trustees and their heirs and legal
representatives, and for the benefit of no other person, firm or corporation. No purchaser of Securities from Wells Fargo Securities shall be deemed to be a successor by reason merely of such purchase. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">33 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 16. <U>Adjustments for Stock Splits</U>. The parties acknowledge and agree that all
stock-related numbers contained in this Agreement shall be adjusted to take into account any stock split, stock dividend or similar event effected with respect to the Securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 17. <U>Governing Law; Time and Jurisdiction</U>. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE
STATE OF NEW YORK. <B></B>SPECIFIED TIMES OF DAY REFER TO NEW YORK CITY TIME. Any action, suit or proceeding to enforce any provision of, or based on any matter arising out of or in connection with, this Agreement or the transactions contemplated
hereby shall be brought in any federal court located in the Southern District of the State of New York or any New York state court located in the Borough of Manhattan, and the Company agrees to the exclusive jurisdiction of such courts (and of the
appropriate appellate courts therefrom) and each party waives (to the full extent permitted by law) any objection it may have to the laying of venue of any such suit, action or proceeding in any such court or that any such suit, action or proceeding
has been brought in an inconvenient forum. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 18. <U>Effect of Headings</U>. The Section and Exhibit headings herein are for
convenience only and shall not affect the construction hereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 19. <U>Counterparts</U>. This Agreement may be executed in two or
more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Delivery of an executed Agreement by one party to the other may be made by facsimile or <FONT
STYLE="white-space:nowrap">e-mail</FONT> transmission. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 20. <U>Definitions</U>. As used in this Agreement, the following terms
have the respective meanings set forth below: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Applicable Time</U>&#148; means the time of each sale of any Securities or any
securities pursuant to this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Commission</U>&#148; means the Securities and Exchange Commission. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>EDGAR</U>&#148; means the Commission&#146;s Electronic Data Gathering, Analysis and Retrieval system. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Exchange Act</U>&#148; means the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission
thereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>FINRA</U>&#148; means the Financial Industry Regulatory Authority, Inc. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>GAAP</U>&#148; means generally accepted accounting principles. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Investment Company Act</U>&#148; means the Investment Company Act of 1940, as amended. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">34 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Issuer Free Writing Prospectus</U>&#148; means any &#147;issuer free writing
prospectus,&#148; as defined in Rule 433, relating to the Securities that (i)&nbsp;is required to be filed with the Commission by the Company, (ii)&nbsp;is a &#147;road show&#148; that is a &#147;written communication&#148; within the meaning of
Rule 433(d)(8)(i) whether or not required to be filed with the Commission, or (iii)&nbsp;is exempt from filing pursuant to Rule 433(d)(5)(i) because it contains a description of the Securities or of the offering that does not reflect the final
terms, and all free writing prospectuses that are listed in <U>Exhibit G</U> hereto, in each case in the form furnished (electronically or otherwise) to Wells Fargo Securities for use in connection with the offering of the Securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>NYSE</U>&#148; means the New York Stock Exchange. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Rule 163</U>,&#148; &#147;<U>Rule 164</U>,&#148; &#147;<U>Rule 172</U>,&#148; &#147;<U>Rule 405</U>,&#148; &#147;<U>Rule
415</U>,&#148; &#147;<U>Rule 424(b)</U>,&#148; &#147;<U>Rule 430B</U>,&#148; &#147;<U>Rule 433</U>&#148; and &#147;<U>Rule 462(b)</U>&#148; refer to such rules under the Securities Act. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Rule 462(b) Registration Statement</U>&#148; means a registration statement filed by the Company pursuant to Rule 462(b) for the
purpose of registering any of the Securities under the Securities Act, including the documents incorporated by reference therein and the Rule 430A Information. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Sarbanes-Oxley Act</U>&#148; means the Sarbanes-Oxley Act of 2002 and the rules and regulations promulgated thereunder or
implementing the provisions thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Securities Act</U>&#148; means the Securities Act of 1933, as amended, and the rules and
regulations of the Commission thereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">All references in this Agreement to financial statements and schedules and other information
that is &#147;contained,&#148; &#147;included&#148; or &#147;stated&#148; in the Registration Statement or the Prospectus (and all other references of like import) shall be deemed to mean and include all such financial statements and schedules and
other information that is incorporated by reference in the Registration Statement or the Prospectus, as the case may be. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">All references
in this Agreement to the Registration Statement, any Rule 462(b) Registration Statement, the Prospectus or any amendment or supplement to any of the foregoing shall be deemed to include the copy filed with the Commission pursuant to EDGAR; all
references in this Agreement to any Issuer Free Writing Prospectus (other than any Issuer Free Writing Prospectuses that, pursuant to Rule 433, are not required to be filed with the Commission) shall be deemed to include the copy thereof filed with
the Commission pursuant to EDGAR; and all references in this Agreement to &#147;supplements&#148; to the Prospectus shall include, without limitation, any supplements, &#147;wrappers&#148; or similar materials prepared in connection with any
offering, sale or private placement of any Placement Securities by Wells Fargo Securities outside of the United States. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 21.
<U>Permitted Free Writing Prospectuses</U>. The Company represents, warrants and agrees that, unless it obtains the prior consent of Wells Fargo Securities, and Wells Fargo Securities represents, warrants and agrees that, unless it obtains the prior
consent of the Company, it has not made and will not make any offer relating to the Securities that would constitute an Issuer Free Writing Prospectus, or that would otherwise constitute a &#147;free writing
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">35 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
prospectus,&#148; as defined in Rule 405, required to be filed with the Commission. Any such free writing prospectus consented to by Wells Fargo Securities or by the Company, as the case may be,
is hereinafter referred to as a &#147;Permitted Free Writing Prospectus.&#148; The Company represents and warrants that it has treated and agrees that it will treat each Permitted Free Writing Prospectus as an &#147;issuer free writing
prospectus,&#148; as defined in Rule 433, and has complied and will comply with the requirements of Rule 433 applicable to any Permitted Free Writing Prospectus, including timely filing with the Commission where required, legending and record
keeping. For the purposes of clarity, the parties hereto agree that all free writing prospectuses, if any, listed in <U>Exhibit G</U> hereto are Permitted Free Writing Prospectuses. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 22. <U>Absence of Fiduciary Relationship</U>. The Company acknowledges and agrees that: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Wells Fargo Securities is acting solely as agent and/or principal in connection with the public offering of the Securities and in
connection with each transaction contemplated by this Agreement and the process leading to such transactions, and no fiduciary or advisory relationship between the Company or any of its respective affiliates, stockholders (or other equity holders),
creditors or employees or any other party, on the one hand, and Wells Fargo Securities, on the other hand, has been or will be created in respect of any of the transactions contemplated by this Agreement, irrespective of whether or not Wells Fargo
Securities has advised or is advising the Company on other matters, and Wells Fargo Securities has no obligation to the Company with respect to the transactions contemplated by this Agreement except the obligations expressly set forth in this
Agreement; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) any public offering price of the Securities set forth in this Agreement was not established by Wells Fargo Securities;
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) it is capable of evaluating and understanding, and understands and accepts, the terms, risks and conditions of the transactions
contemplated by this Agreement; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Wells Fargo Securities has not provided any legal, accounting, regulatory or tax advice with respect
to the transactions contemplated by this Agreement and it has consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) it is aware that Wells Fargo Securities and its respective affiliates are engaged in a broad range of transactions which may involve
interests that differ from those of the Company and Wells Fargo Securities has no obligation to disclose such interests and transactions to the Company by virtue of any fiduciary, advisory or agency relationship or otherwise; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) it waives, to the fullest extent permitted by law, any claims it may have against Wells Fargo Securities for breach of fiduciary duty or
alleged breach of fiduciary duty and agrees that Wells Fargo Securities shall not have any liability (whether direct or indirect, in contract, tort or otherwise) to it in respect of such a fiduciary duty claim or to any person asserting a fiduciary
duty claim on its behalf or in right of it or the Company, employees or creditors of Company. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">36 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If the foregoing is in accordance with your understanding of our agreement, please sign and
return to the Company a counterpart hereof, whereupon this instrument, along with all counterparts, will become a binding agreement between Wells Fargo Securities and the Company in accordance with its terms. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Very truly yours,</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">WASHINGTON REAL ESTATE INVESTMENT TRUST</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Stephen E. Riffee</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Name: Stephen E. Riffee</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Title: Executive Vice President and</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chief Financial Officer</P></TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">CONFIRMED AND ACCEPTED, as of the </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;date first above written: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">WELLS FARGO SECURITIES, LLC </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="5%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="93%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Elizabeth Alvarez</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Authorized Signatory</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Elizabeth Alvarez</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Managing Director</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">37 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT A </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>FORM OF PLACEMENT NOTICE </U></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="5%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="93%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">From:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">[&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;&nbsp;
]</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Cc:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">[`&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;]</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">To:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">[&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;&nbsp;
]</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Subject: Equity Distribution&#151;Placement Notice </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Gentlemen: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the terms and subject to
the conditions contained in the Equity Distribution Agreement between Washington Real Estate Investment Trust (the &#147;<U>Company</U>&#148;) and Wells Fargo Securities, LLC (&#147;<U>Wells Fargo Securities</U>&#148;) dated May&nbsp;4, 2018 (the
&#147;<U>Agreement</U>&#148;), I hereby request on behalf of the Company that Wells Fargo Securities sell up to [&#149;] [or $[&#149;] in aggregate offering price of] Common Shares of Beneficial Interest, par value $0.01 per share (the
&#147;<U>Securities</U>&#148;), at a minimum market price of $[&#149;] per share. The Company shall pay Wells Fargo Securities compensation equal to [&#149;]% of the gross proceeds from the sale of the Securities set forth in this Placement Notice.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>[ADDITIONAL SALES PARAMETERS MAY BE ADDED, SUCH AS THE TIME PERIOD IN WHICH SALES ARE REQUESTED TO BE MADE, SPECIFIC DATES THE SHARES MAY NOT BE SOLD
ON, THE MANNER IN WHICH SALES ARE TO BE MADE BY WELLS FARGO SECURITIES, AND/OR THE CAPACITY IN WHICH WELLS FARGO SECURITIES MAY ACT IN SELLING SHARES (AS PRINCIPAL, AGENT, OR BOTH)] </B></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A-1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT B </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>AUTHORIZED INDIVIDUALS FOR PLACEMENT NOTICES AND ACCEPTANCES </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Wells Fargo Securities, LLC </U></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Jennifer Lynch </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email: Jennifer.r.lynch@wellsfargo.com </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">William O&#146;Connell
</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email: William.oconnell@wellsfargo.com </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Josie Callanan </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email: josie.callanan@wellsfargo.com </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Barrett Kollme </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email: barrett.kollme@wellsfargo.com </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Rohit Mehta </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email: rohit.mehta2@wellsfargo.com </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Matt Hopkins </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email: mhopkins@eastdilsecured.com </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Elizabeth Alvarez </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email: Elizabeth.alvarez@wellsfsargo.com </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Washington Real
Estate Investment Trust </U></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Stephen E. Riffee </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email:
<U>sriffee@washreit.com</U> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Paul T. McDermott </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email:
<U>pmcdermott@washreit.com</U> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Taryn D. Fielder </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email:
<U>tfielder@washreit.com</U> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">B-1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT C </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>COMPENSATION </U></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Wells Fargo
Securities shall be paid compensation equal to up to 2.0% of the gross proceeds from the sales of Securities pursuant to the terms of this Agreement. The actual compensation paid to Wells Fargo Securities shall be set forth in the applicable
Placement Notice. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">C-1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT D </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>SIGNIFICANT SUBSIDIARIES OF THE COMPANY </U></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="35%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="30%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="30%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:20.00pt; display:inline; font-size:8pt; font-family:Times New Roman; "><B>Name</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman"><B>Jurisdiction of</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1.00pt solid #000000; width:49.45pt; display:inline; font-size:8pt; font-family:Times New Roman; "><B>Organization</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:49.30pt; display:inline; font-size:8pt; font-family:Times New Roman; "><B>Type of Entity</B></P></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">WashREIT OP LLC</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Delaware</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Limited Liability Company</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">WashREIT OP Sub DC LLC</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Delaware</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Limited Liability Company</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">D-1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT E </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>FORM OF OPINIONS OF COMPANY COUNSEL </U></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">E-1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT F </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>OFFICER CERTIFICATE </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The
undersigned [&#149;], the duly qualified and elected [&#149;] of Washington Real Estate Investment Trust (&#147;<U>Company</U>&#148;), a Maryland real estate investment trust, does hereby certify in such capacity and on behalf of the Company,
pursuant to Section&nbsp;7(n) of each of the Equity Distribution Agreements dated May&nbsp;4, 2018 (collectively, the &#147;<U>Agreements</U>&#148;) between the Company and each of Wells Fargo Securities, LLC, BNY Mellon Capital Markets, LLC,
Capital One Securities, Inc., Citigroup Global Markets Inc., Goldman Sachs&nbsp;&amp; Co. LLC, J.P. Morgan Securities LLC, KeyBanc Capital Markets Inc. and SunTrust Robinson Humphrey, Inc. (collectively, the &#147;<U>Agents</U>&#148;) that to the
knowledge of the undersigned: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The representations and warranties of the Company in Section&nbsp;5 of each of the Agreements (A)&nbsp;to
the extent such representations and warranties are subject to qualifications and exceptions contained therein relating to materiality or Material Adverse Effect, are true and correct on and as of the date hereof with the same force and effect as if
expressly made on and as of the date hereof, except for those representations and warranties that speak solely as of a specific date and which were true and correct as of such date, and (B)&nbsp;to the extent such representations and warranties are
not subject to any qualifications or exceptions, are true and correct in all material respects as of the date hereof as if made on and as of the date hereof with the same force and effect as if expressly made on and as of the date hereof except for
those representations and warranties that speak solely as of a specific date and which were true and correct as of such date; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The
Company has complied in all material respects with all agreements and satisfied all conditions on their part to be performed or satisfied pursuant to each of the Agreements at or prior to the date hereof (other than those conditions waived by the
Agents). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT G </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>ISSUER FREE WRITING PROSPECTUSES </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">None </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">G-1 </P>

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<DOCUMENT>
<TYPE>EX-1.2
<SEQUENCE>3
<FILENAME>d582540dex12.htm
<DESCRIPTION>EX-1.2
<TEXT>
<HTML><HEAD>
<TITLE>EX-1.2</TITLE>
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 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 1.2 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Washington Real Estate Investment Trust </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">$250,000,000 of Common Shares of Beneficial Interest </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EQUITY DISTRIBUTION AGREEMENT </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dated:
May&nbsp;4, 2018 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TABLE OF CONTENTS </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="96%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Page</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 1. Description of Securities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2. Placements</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 3. Sale of Placement Securities by BNYMCM</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4. Suspension of Sales</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 5. Representations and Warranties</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6. Sale and Delivery to BNYMCM; Settlement</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7. Covenants of the Company</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 8. Payment of Expenses</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 9. Conditions of BNYMCM&#146;s Obligations</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 10. Indemnification</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">28</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11. Contribution</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">30</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 12. Representations, Warranties and Agreements to Survive Delivery</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">31</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 13. Termination of Agreement</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">31</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 14. Notices</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">32</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 15. Parties</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 16. Adjustments for Stock Splits</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 17. Governing Law; Time and Jurisdiction</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 18. Effect of Headings</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 19. Counterparts</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 20. Definitions</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 21. Permitted Free Writing Prospectuses</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 22. Absence of Fiduciary Relationship</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">i </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXHIBITS </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="7%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exhibit&nbsp;A</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">&#150;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Form of Placement Notice</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exhibit B</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">&#150;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Authorized Individuals for Placement Notices and Acceptances</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exhibit C</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">&#150;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Compensation</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exhibit D</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">&#150;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Significant Subsidiaries of the Company</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exhibit E</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">&#150;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Form of Opinions of Company Counsel</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exhibit F</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">&#150;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Officer Certificate</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exhibit G</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">&#150;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Issuer Free Writing Prospectus</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ii </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Washington Real Estate Investment Trust </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">$250,000,000 of Common Shares of Beneficial Interest </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>EQUITY DISTRIBUTION AGREEMENT </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">May&nbsp;4, 2018 </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">BNY Mellon Capital Markets, LLC
</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">101 Barclay Street, 3 West </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">New York, New York 10286 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ladies and Gentlemen: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Washington Real Estate
Investment Trust, a Maryland real estate investment trust (the &#147;<U>Company</U>&#148;), confirms its agreement (this &#147;<U>Agreement</U>&#148;) with BNY Mellon Capital Markets, LLC (&#147;<U>BNYMCM</U>&#148;), as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 1. <U>Description of Securities</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company agrees that, from time to time during the term of this Agreement, on the terms and subject to the conditions set forth herein, it
may issue and sell through BNYMCM, acting as agent and/or principal, Common Shares of Beneficial Interest, par value $0.01 per share (the &#147;<U>Common Stock</U>&#148;), having an aggregate sale price of up to $250,000,000 (such Common Shares, the
&#147;Securities&#148;, and such maximum amount, the &#147;<U>Maximum Amount</U>&#148;). Notwithstanding anything to the contrary contained herein, the parties hereto agree that compliance with the limitations set forth in this Section&nbsp;1
regarding the aggregate sale price of the Securities issued and sold under this Agreement shall be the sole responsibility of the Company, and BNYMCM shall have no obligation in connection with such compliance. The issuance and sale of the
Securities through BNYMCM will be effected pursuant to the Registration Statement (as defined below) filed by the Company with the Securities and Exchange Commission (the &#147;<U>Commission</U>&#148;), which became effective upon filing, although
nothing in this Agreement shall be construed as requiring the Company to use the Registration Statement to issue the Securities. The Company agrees that whenever it determines to sell Securities directly to BNYMCM as principal it will enter into a
separate written agreement containing the terms and conditions of such sale. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company has also entered into separate equity
distribution agreements with respect to the Securities (each, an &#147;<U>Alternative Equity Distribution Agreement</U>&#148; and collectively, the &#147;<U>Alternative Equity Distribution Agreements</U>&#148;), each dated as of the date hereof,
with Wells Fargo Securities, LLC, Capital One Securities, Inc., Citigroup Global Markets Inc., Goldman Sachs&nbsp;&amp;&nbsp;Co. LLC, J.P. Morgan Securities&nbsp;LLC, KeyBanc Capital Markets&nbsp;Inc. and SunTrust Robinson Humphrey,&nbsp;Inc. (each,
an &#147;<U>Alternative Placement Agent</U>&#148; and collectively, the &#147;<U>Alternative Placement Agents</U>&#148;, and, together with BNYMCM, the &#147;<U>Agents</U>&#148;). The aggregate offering price of the Securities that may be sold
pursuant to this Agreement and the Alternative Equity Distribution Agreements collectively shall not exceed the Maximum Amount. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company has filed, in accordance with the provisions of the Securities Act, with the
Commission a registration statement on Form <FONT STYLE="white-space:nowrap">S-3</FONT> (File <FONT STYLE="white-space:nowrap">No.&nbsp;333-224135),</FONT> including a base prospectus, relating to certain securities, including the Securities to be
issued from time to time by the Company, and which incorporates by reference documents that the Company has filed or will file in accordance with the provisions of the Securities Exchange Act of 1934, as amended, and the rules and regulations
thereunder (collectively, the &#147;<U>Exchange Act</U>&#148;). The Company has prepared a prospectus supplement specifically relating to the Securities (the &#147;<U>Prospectus Supplement</U>&#148;) to the base prospectus included as part of such
registration statement. The Company will furnish to BNYMCM, for use by BNYMCM, copies of the prospectus included as part of such registration statement, as supplemented by the Prospectus Supplement, relating to the Securities. The
&#147;<U>Registration Statement</U>&#148;, as of any time, means such registration statement as amended by any post-effective amendments thereto at such time, including the exhibits and any schedules thereto at such time, the documents incorporated
or deemed to be incorporated by reference therein at such time pursuant to Item 12 of Form <FONT STYLE="white-space:nowrap">S-3</FONT> under the Securities Act and the documents and information otherwise deemed to be a part thereof as of such time
pursuant to Rule 430B of the Securities Act (&#147;<U>Rule 430B</U>&#148;); <I>provided</I>, <I>however</I>, that the &#147;Registration Statement&#148; without reference to a time means such registration statement as amended by any post-effective
amendments thereto as of the time of the first contract of sale for the Securities, which time shall be considered the &#147;new effective date&#148; of the Registration Statement with respect to the Securities within the meaning of paragraph (f)(2)
of Rule 430B, including the exhibits and schedules thereto at such time, the documents and information incorporated or deemed to be incorporated by reference therein at such time pursuant to Item 12 of Form
<FONT STYLE="white-space:nowrap">S-3</FONT> under the Securities Act and the documents otherwise deemed to be a part thereof as of such time pursuant to Rule 430B. The base prospectus, including all documents incorporated therein by reference,
included in the Registration Statement, as it may be supplemented by the Prospectus Supplement, in the form in which such prospectus and/or Prospectus Supplement have most recently been filed by the Company with the Commission pursuant to Rule
424(b) under the Securities Act is herein called the &#147;<U>Prospectus</U>.&#148; Any reference herein to the Registration Statement, the Prospectus or any amendment or supplement thereto shall be deemed to refer to and include the documents
incorporated by reference therein, and any reference herein to the terms &#147;amend,&#148; &#147;amendment&#148; or &#147;supplement&#148; with respect to the Registration Statement or the Prospectus shall be deemed to refer to and include the
filing after the execution hereof of any document with the Commission deemed to be incorporated by reference therein. For purposes of this Agreement, all references to the Registration Statement, the Prospectus or to any amendment or supplement
thereto shall be deemed to include any copy filed with the Commission pursuant to EDGAR. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 2. <U>Placements</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each time that the Company wishes to issue and sell the Securities hereunder (each, a &#147;<U>Placement</U>&#148;), it will notify BNYMCM by
email notice (or other method mutually agreed to in writing by the parties) containing the parameters in accordance with which it desires the Securities to be sold, which shall at a minimum include the number or dollar amount of Securities to be
issued (the &#147;<U>Placement Securities</U>&#148;), the time period during which sales are requested to be made, any limitation on the number or dollar amount of Securities that may be sold in any one day and any minimum price below which sales
may not be made (a &#147;<U>Placement </U> </P>
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<U>Notice</U>&#148;), a form of which containing such minimum sales parameters necessary is attached hereto as <U>Exhibit A</U>. The Placement Notice shall originate from any of the individuals
from the Company set forth on <U>Exhibit B</U> (with a copy to each of the other individuals from the Company listed on such schedule), and shall be addressed to each of the individuals from BNYMCM set forth on <U>Exhibit B</U>, as such <U>Exhibit
B</U> may be amended from time to time. If BNYMCM wishes to accept such proposed terms included in the Placement Notice (which it may decline to do so for any reason in its sole discretion) or, following discussion with the Company, wishes to accept
amended terms, BNYMCM will, prior to 4:30 p.m. (New York City time) on the Business Day following the Business Day on which such Placement Notice is delivered to BNYMCM, issue to the Company a notice by email (or other method mutually agreed to in
writing by the parties) addressed to all of the individuals from the Company and BNYMCM set forth on <U>Exhibit B</U>) setting forth the terms that BNYMCM is willing to accept. Where the terms provided in the Placement Notice are amended as provided
for in the immediately preceding sentence, such terms will not be binding on the Company or BNYMCM until the Company delivers to BNYMCM an acceptance by email (or other method mutually agreed to in writing by the parties) of all of the terms of such
Placement Notice, as amended (the &#147;<U>Acceptance</U>&#148;), which email shall be addressed to all of the individuals from the Company and BNYMCM set forth on <U>Exhibit B</U>. The Placement Notice (as amended by the corresponding Acceptance,
if applicable) shall be effective upon receipt by the Company of BNYMCM&#146;s acceptance of the terms of the Placement Notice or upon receipt by BNYMCM of the Company&#146;s Acceptance, as the case may be, unless and until (i)&nbsp;the entire
amount of the Placement Securities has been sold, (ii)&nbsp;in accordance with the notice requirements set forth in the second sentence of this paragraph, the Company terminates the Placement Notice, (iii)&nbsp;the Company issues a subsequent
Placement Notice with parameters superseding those on the earlier dated Placement Notice, (iv)&nbsp;this Agreement has been terminated under the provisions of Section&nbsp;13 or (v)&nbsp;either party shall have suspended the sale of the Placement
Securities in accordance with Section&nbsp;4 below. The amount of any discount, commission or other compensation to be paid by the Company to BNYMCM in connection with the sale of the Placement Securities shall be calculated in accordance with the
terms set forth in <U>Exhibit C</U>. It is expressly acknowledged and agreed that neither the Company nor BNYMCM will have any obligation whatsoever with respect to a Placement or any Placement Securities unless and until the Company delivers a
Placement Notice to BNYMCM and either (i)&nbsp;BNYMCM accepts the terms of such Placement Notice or (ii)&nbsp;where the terms of such Placement Notice are amended, the Company accepts such amended terms by means of an Acceptance pursuant to the
terms set forth above, and then only upon the terms specified in the Placement Notice (as amended by the corresponding Acceptance, if applicable) and herein. In the event of a conflict between the terms of this Agreement and the terms of a Placement
Notice (as amended by the corresponding Acceptance, if applicable), the terms of the Placement Notice (as amended by the corresponding Acceptance, if applicable) will control. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company agrees that any offer to sell or any sales of Securities pursuant to this Agreement or any Alternative Equity Distribution
Agreement shall only be effected by or through only one of BNYMCM or an Alternative Placement Agent on any single given day, and the Company shall in no event request that BNYMCM and an Alternative Placement Agent sell Securities on the same day;
<I>provided, however, </I>that the foregoing limitation shall only apply with respect to an agency transaction and shall not apply to any&nbsp;principal transaction effected at any time by any Agent and, provided further, such limitation shall not
apply on any day during which no sales are made pursuant to this Agreement. Notwithstanding the foregoing or anything </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


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to the contrary contained herein, the Company shall be permitted, at any time and from time to time, to engage one or more additional agents and/or principals, subject to such additional agents
and/or principals executing the expense reimbursement agreement then in effect among the Agents relating only to the sale of the Securities and the transactions contemplated by this Agreement and the Alternative Distribution Agreements, that, once
engaged, may offer to sell, solicit an offer to buy or sell the Securities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 3. <U>Sale of Placement Securities by BNYMCM</U>.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Subject to the provisions of Section&nbsp;6(a), BNYMCM, for the period specified in the Placement Notice, will use its commercially
reasonable efforts consistent with its normal trading and sales practices to sell the Placement Securities up to the amount specified, and otherwise in accordance with the terms of such Placement Notice (as amended by the corresponding Acceptance,
if applicable). BNYMCM will provide written confirmation to the Company no later than the opening of the Trading Day (as defined below) immediately following the Trading Day on which it has made sales of Placement Securities hereunder setting forth
the number of Placement Securities sold on such day, the compensation payable by the Company to BNYMCM pursuant to Section&nbsp;2 with respect to such sales, and the Net Proceeds (as defined below) payable to the Company, with an itemization of the
deductions made by BNYMCM (as set forth in Section&nbsp;6(b)) from the gross proceeds that it receives from such sales. Subject to the terms of the Placement Notice (as amended by the corresponding Acceptance, if applicable), BNYMCM may sell
Placement Securities by any method permitted by law deemed to be an &#147;at the market&#148; offering as defined in Rule 415 under the Securities Act, including without limitation sales made directly on the NYSE, on any other existing trading
market for the Common Stock or to or through a market maker. Subject to the terms of the Placement Notice (as amended by the corresponding Acceptance, if applicable), BNYMCM may also sell Placement Securities by any other method permitted by law,
including but not limited to in privately negotiated transactions, which may include block trades. The Company acknowledges and agrees that (i)&nbsp;there can be no assurance that BNYMCM will be successful in selling Placement Securities, and
(ii)&nbsp;BNYMCM will incur no liability or obligation to the Company or any other person or entity if it does not sell Placement Securities for any reason other than a failure by BNYMCM to use its commercially reasonable efforts consistent with its
normal trading and sales practices to sell such Placement Securities as required under this Section&nbsp;3. For the purposes hereof, &#147;<U>Trading Day</U>&#148; means any day on which shares of Common Stock are purchased and sold on the principal
market on which the Common Stock is listed or quoted. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 4. <U>Suspension of Sales</U>. The Company or BNYMCM may, upon notice to
the other party in writing (including by email correspondence to each of the individuals of the other party set forth on <U>Exhibit B</U>, if receipt of such correspondence is actually acknowledged by any of the individuals to whom the notice is
sent, other than via auto-reply) or by telephone (confirmed immediately by verifiable facsimile transmission or email correspondence to each of the individuals of the other party set forth on <U>Exhibit B</U>), suspend any sale of Placement
Securities; <I>provided</I>, <I>however</I>, that such suspension shall not affect or impair either party&#146;s obligations with respect to any Placement Securities sold hereunder prior to the receipt of such notice or any Placement Securities sold
under the Alternative Equity Distribution Agreements. Each of the parties agrees that no such notice under this Section&nbsp;4 shall be effective against the other unless it is made to one of the individuals named on <U>Exhibit B</U> hereto, as such
<U>Exhibit B</U> may be amended from time to time. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 5. <U>Representations and Warranties</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Representations and Warranties by the Company</I>. The Company represents and warrants to BNYMCM as of the date hereof and as of each
Representation Date (as defined below) on which a certificate is required to be delivered pursuant to Section&nbsp;7(n) of this Agreement, as of each Applicable Time and as of each Settlement Date (as defined below), and agrees with BNYMCM, as
follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) <U>Compliance with Registration Requirements</U>. The Securities have been duly registered under the
Securities Act pursuant to the Registration Statement. The Registration Statement has become effective under the Securities Act, or, with respect to any registration statement to be filed to register the offer and sale of the Securities pursuant to
Rule 462(b) under the Securities Act (a &#147;<U>Rule 462(b) Registration Statement</U>&#148;), will be filed with the Commission and become effective under the Securities Act no later than 10:00 p.m. (New York City time), on the date of
determination of the public offering price for the Securities, and no stop order preventing or suspending the use of any base prospectus, the Prospectus Supplement, the Prospectus or any Permitted Free Writing Prospectus (as defined below), or the
effectiveness of the Registration Statement or any Rule 462(b) Registration Statement and no proceedings for such purpose have been instituted or are pending or, to the knowledge of the Company, are contemplated by the Commission, and any request on
the part of the Commission for additional information has been complied with. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">At the respective times each of the
Registration Statement, any Rule 462(b) Registration Statement and any post-effective amendments thereto became or becomes effective and as of the date hereof, the Registration Statement, any Rule 462(b) Registration Statement and any amendments and
supplements thereto complied and will comply in all material respects with the requirements of the Securities Act. The conditions for the use of Form <FONT STYLE="white-space:nowrap">S-3,</FONT> as set forth in the General Instructions thereto, and
the Registration Statement meets, and the offering and sale of the Securities as contemplated hereby complies with, the requirements of Rule 415 under the Securities Act (including, without limitation, Rule 415(a)(5)). The Registration Statement, as
of the date hereof and each effective date with respect thereto, did not and will not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not
misleading. Neither the Prospectus nor any amendments or supplements thereto, as of their respective dates, and at each Applicable Time and Settlement Date, as the case may be, included or will include an untrue statement of a material fact or
omitted or will omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">The representations and warranties set forth in the immediately preceding
paragraph shall not apply to statements in or omissions from the Registration Statement or the Prospectus, as amended or supplemented, made in reliance upon and in conformity with information furnished to the Company in writing by BNYMCM expressly
for use therein. For purposes of this Agreement, the only information so furnished as of the date hereof shall be BNYMCM&#146;s name (the &#147;<U>Agent Information</U>&#148;). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">The copies of the Registration Statement and any Rule 462(b) Registration Statement and any amendments thereto, any other
preliminary prospectus, each Issuer Free Writing Prospectus that is required to be filed with the Commission pursuant to Rule 433 and the Prospectus and any amendments or supplements thereto delivered and to be delivered to BNYMCM (electronically or
otherwise) in connection with the offering of the Securities were and will be identical to the electronically transmitted copies thereof filed with the Commission pursuant to EDGAR, except to the extent permitted by Regulation <FONT
STYLE="white-space:nowrap">S-T.</FONT> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each Issuer Free Writing Prospectus relating to the Securities, as of its issue
date and as of each Applicable Time and Settlement Date, did not, does not and will not include any information that conflicted, conflicts or will conflict with the information contained in the Registration Statement or the Prospectus, including any
incorporated document deemed to be a part thereof that has not been superseded or modified, or included, includes or will include an untrue statement of a material fact or omitted, omits or will omit to state a material fact necessary in order to
make the statements therein, in light of the circumstances, prevailing at that subsequent time, not misleading. The foregoing sentence does not apply to statements in or omissions from any Issuer Free Writing Prospectus based upon and in conformity
with written information furnished to the Company by BNYMCM specifically for use therein. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">At the time of the initial
filing of the Registration Statement, at the time of the most recent amendment thereto for the purposes of complying with Section&nbsp;10(a)(3) of the Securities Act (whether such amendment was by post-effective amendment, incorporated report filed
pursuant to Section&nbsp;13 or 15(d) of the Exchange Act or form of prospectus), at the time the Company or another offering participant made a bona fide offer (within the meaning, for this paragraph only, of Rule 164(h)(2) of the Securities Act),
the Company was and is a &#147;well-known seasoned issuer&#148; as defined in Rule 405 of the Securities Act, including not having been and not being an &#147;ineligible issuer,&#148; as defined in Rule 405 of the Securities Act; and, without
limitation to the foregoing, the Company has at all relevant times met, meets and will at all relevant times meet the requirements of Rule 164 for the use of a free writing prospectus (as defined in Rule 405) in connection with the offering
contemplated hereby. The Company agrees to pay the fees required by the Commission relating to the Securities within the time required by Rule 456(b)(1) without regard to the proviso therein and otherwise in accordance with Rules 456(b) and 457(r).
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each document incorporated by reference in the Registration Statement or the
Prospectus heretofore filed, when it was filed (or, if any amendment with respect to any such document was filed, when such amendment was filed), conformed in all material respects with the requirements of the Exchange Act, and any further documents
so filed and incorporated after the date of this Agreement will, when they are filed, conform in all material respects with the requirements of the Exchange Act; no such document when it was filed (or, if an amendment with respect to any such
document was filed, when such amendment was filed), contained an untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make the statements therein not misleading; and no such
document, when it is filed, will contain an untrue statement of a material fact or will omit to state a material fact required to be stated therein or necessary in order to make the statements therein not misleading. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) <U>Prior Written Communications</U>. Any offer that is a written communication relating to the Securities made prior to the
initial filing of the Registration Statement by the Company or any person acting on its behalf (within the meaning, for this paragraph only, of Rule 163(c) of the Securities Act) has been filed with the Commission in accordance with the exemption
provided by Rule 163 of the Securities Act and otherwise complied with the requirements of Rule 163 of the Securities Act, including without limitation the legending requirement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) <U>Good Standing of Company</U>. The Company has been duly organized and is validly existing as a real estate investment
trust of unlimited duration with transferable shares of beneficial interest in good standing under the laws of the State of Maryland, with full power and authority to own, lease and operate its properties and to conduct its business as described in
the Registration Statement and the Prospectus and to enter into this Agreement and to consummate the transactions contemplated by the Registration Statement and the Prospectus. The Company is duly qualified to transact business and is in good
standing in each jurisdiction in which such qualification is required, whether by reason of the ownership or leasing of property or the conduct of business, except where the failure to so qualify or be in good standing would not result in a material
adverse change in the condition, financial or otherwise, or the results of operations, business, properties or prospects of the Company and its subsidiaries considered as one enterprise, whether or not arising in the ordinary course of business (a
&#147;<U>Material Adverse Effect</U>&#148;). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) <U>Subsidiaries</U>. Each &#147;significant subsidiary&#148; of the
Company (as such term is defined in Rule <FONT STYLE="white-space:nowrap">1-02</FONT> of Regulation <FONT STYLE="white-space:nowrap">S-X</FONT> promulgated under the Securities Act) (each, a &#147;Subsidiary&#148; and, collectively, the
&#147;Subsidiaries&#148;) (which term includes corporations, limited and general partnerships, limited liability companies, joint ventures and other entities, and includes direct and indirect subsidiaries), has been duly organized and is validly
existing as a corporation, limited liability company or partnership, as the case may be, in good standing under the laws of the jurisdiction of its incorporation or organization, has power and authority to own, lease and operate its properties and
to conduct its business as described in the Registration Statement and the Prospectus and is duly qualified to transact business and is in good standing in each jurisdiction in which such qualification is required, whether by reason of the ownership
or leasing of property or the conduct of business, except where the failure to so qualify or be in good standing would not result in a Material Adverse Effect. Except as otherwise stated in the Registration Statement or the Prospectus, all of the
issued and outstanding capital stock or other ownership interests of each subsidiary have been duly authorized and validly </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
issued, are fully paid and <FONT STYLE="white-space:nowrap">non-assessable</FONT> and are owned by the Company, directly or through subsidiaries, free and clear of any security interest,
mortgage, pledge, lien, encumbrance, claim or equity; and none of the outstanding shares of capital stock of any subsidiary was issued in violation of preemptive or other similar rights of any security holder of such subsidiary. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(5) <U>Capitalization</U>. The Securities and all other outstanding Common Stock have been duly authorized; the authorized
equity capitalization of the Company is as set forth in the Prospectus; all outstanding Common Stock is, and, when the Securities have been delivered and paid for in accordance with this Agreement or any Alternative Equity Distribution Agreement,
such Securities will have been, validly issued, fully paid and nonassessable, will be consistent with the information in the Prospectus and will conform to the description thereof contained in the Prospectus; the shareholders of the Company have no
preemptive rights with respect to the Securities; and none of the outstanding Common Stock has been issued in violation of any preemptive or similar rights of any security holder. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(6) <U>Absence of Further Requirements</U>. No consent, approval, authorization, or order of, or filing or registration with,
any person (including any governmental agency or body or any court) is required for the consummation by the Company of the transactions contemplated by this Agreement in connection with the offering, issuance and sale of the Securities by the
Company, except such as have been obtained under the Securities Act, and such as may be required under state securities laws. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(7) <U>Title to Property</U>. The Company and its subsidiaries have good and marketable title to, or valid and enforceable
leasehold estates in, all items of real and personal property referred to in the Registration Statement and the Prospectus as owned or leased by them, in each case free and clear of all liens, encumbrances, claims, security interests and defects,
other than those disclosed in the Registration Statement or the Prospectus or that would not, individually or in the aggregate, have a Material Adverse Effect. The Company has no reasonable basis to believe that the lessee under any lease calling
for annual lease payments in excess of one percent of the Company&#146;s annual revenue for its last fiscal year is not financially capable of performing its obligations thereunder (excluding leases for which rent payments due for the remainder of
such lease are less than such amount). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(8) <U>Absence of Defaults and Conflicts Resulting from Transaction</U>. The
execution, delivery and performance of this Agreement, and the issuance and sale of the Securities and compliance with the terms and provisions thereof will not result in a breach or violation of any of the terms and provisions of, or constitute a
default or a Debt Repayment Triggering Event (as defined below) under, or result in the imposition of any lien, charge or encumbrance upon any property or assets of the Company or any of its subsidiaries pursuant to, the declaration of trust,
partnership agreement, charter or bylaws or other organizational documents of the Company or any of its subsidiaries, any statute, rule, regulation or order of any governmental agency or body or any court, domestic or foreign, having jurisdiction
over the Company or any of its subsidiaries or any of their properties, or any agreement or instrument to which the Company or any of its </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>


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subsidiaries is a party or by which the Company or any of its subsidiaries is bound or to which any of the properties of the Company or any of its subsidiaries is subject; a &#147;Debt Repayment
Triggering Event&#148; means any event or condition that gives, or with the giving of notice or lapse of time would give, the holder of any note, debenture, or other evidence of indebtedness (or any person acting on such holder&#146;s behalf) the
right to require the repurchase, redemption or repayment of all or a portion of such indebtedness by the Company or any of its subsidiaries. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(9) <U>Absence of Existing Defaults and Conflicts</U>. Neither the Company nor any of its subsidiaries is (i)&nbsp;in violation
of its respective declaration of trust, partnership agreement, charter or bylaws or other organizational document or (ii)&nbsp;in default (or with the giving of notice or lapse of time would be in default) under any existing obligation, agreement,
covenant or condition contained in any indenture, loan agreement, mortgage, lease or other agreement or instrument to which any of them is a party or by which any of them is bound or to which any of the properties of any of them is subject or
(iii)&nbsp;in violation of any law or statute or any judgment, order, rule or regulation of any court or arbitrator or governmental or regulatory authority, except, in the case of clauses (ii)&nbsp;and (iii) above, for any such default or violation
that would not, individually or in the aggregate, have a Material Adverse Effect or materially and adversely affect the ability of the Company to perform its obligations under this Agreement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(10) <U>Authorization of Agreement</U>. This Agreement has been duly authorized, executed and delivered by the Company. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(11) <U>Possession of Licenses and Permits</U>. The Company and its subsidiaries possess, and are in compliance with the terms
of, all certificates, authorizations, franchises, licenses and permits (&#147;<U>Licenses</U>&#148;) necessary or material to the conduct of the business now conducted or proposed in the Registration Statement and the Prospectus to be conducted by
them and have not received any notice of proceedings relating to the revocation or modification of any Licenses that, if determined adversely to the Company or any of its subsidiaries, would individually or in the aggregate have a Material Adverse
Effect. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(12) <U>Absence of Labor Dispute</U>. No labor dispute with the employees of the Company or any of its
subsidiaries exists or, to the knowledge of the Company, is imminent, and the Company is not aware of any existing or imminent labor disturbance by the employees of any of its or its subsidiaries&#146; principal suppliers, contractors or customers,
that, in any such case, would have a Material Adverse Effect. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(13) <U>Possession of Intellectual Property</U>. The Company
and its subsidiaries own, possess or can acquire on reasonable terms, adequate trademarks, trade names and other rights to inventions, <FONT STYLE="white-space:nowrap">know-how,</FONT> patents, copyrights, confidential information and other
intellectual property (collectively, &#147;intellectual property rights&#148;) necessary to conduct the business now operated by them, or presently employed by them, and have not received any notice of infringement of or conflict with asserted
rights of others with respect to any intellectual property rights that, if determined adversely to the Company or any of its subsidiaries, would individually or in the aggregate have a Material Adverse Effect. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">9 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(14) <U>Environmental Laws</U>. Except as disclosed in the Registration Statement
and the Prospectus, neither the Company nor any of its subsidiaries is in violation of any statute, any rule, regulation, decision or order of any governmental agency or body or any court, domestic or foreign, relating to the use, disposal or
release of hazardous or toxic substances or relating to the protection or restoration of the environment or human exposure to hazardous or toxic substances (collectively, &#147;environmental laws&#148;), owns or operates any real property
contaminated with any substance that is subject to any environmental laws, is liable for any <FONT STYLE="white-space:nowrap">off-site</FONT> disposal or contamination pursuant to any environmental laws, or is subject to any claim relating to any
environmental laws, which violation, contamination, liability or claim would individually or in the aggregate have a Material Adverse Effect; and the Company is not aware of any pending investigation which might lead to such a claim. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(15) <U>Accurate Disclosure</U>. The statements in, or incorporated by reference into, the Registration Statement and the
Prospectus under the headings &#147;Description of Shares,&#148; &#147;Description of Common Shares,&#148; &#147;Material U.S. Federal Income Tax Considerations&#148; and &#147;Risk Factors&#148; and the statements in the Registration Statement
under Item 15 insofar as such statements summarize legal matters, agreements, documents or proceedings discussed therein, are accurate and fair summaries of such legal matters, agreements, documents or proceedings and present the information
required to be shown in all material respects. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(16) <U>REIT Status</U>. With respect to all tax periods regarding which
the Internal Revenue Service is or will be entitled to assert any claim, the Company has met the requirements for qualification as a real estate investment trust (&#147;<U>REIT</U>&#148;) under Sections 856 through 860 of the Internal Revenue Code,
as amended (the &#147;<U>Code</U>&#148;), and the Company&#146;s current organization and present and contemplated operations, assets and income as described in the Registration Statement and the Prospectus will permit the Company to continue to
meet such requirements. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(17) <U>Insurance</U>. The Company and its subsidiaries are insured by insurers of recognized
financial responsibility against such losses and risks and in such amounts as are prudent and customary in the businesses in which they are engaged; the Company has no reason to believe that it or any of its subsidiaries will not be able to renew
its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business at a cost that would not have a Material Adverse Effect; and the Company and each of
its subsidiaries has obtained title insurance on all of the properties owned by each of them in an amount at least equal to the original purchase price to acquire land and improvements and such title insurance is in full force and effect. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(18) <U>Taxes</U>. The Company has filed all federal, state and foreign income tax returns that have been required to be filed
and has paid all taxes indicated by said returns and all assessments, fines and penalties received by it to the extent that such taxes, assessments, fines or penalties have become due. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">10 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(19) <U>Statistical and Market-Related Data</U>. Any third-party statistical and
market-related data included or incorporated by reference in the Registration Statement or the Prospectus are based on or derived from sources that the Company believes to be reliable and accurate. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(20) <U>Compliance with Sarbanes-Oxley Act</U>. Except as set forth in the Registration Statement and the Prospectus,
(i)&nbsp;the Company, its subsidiaries and the Company&#146;s Board of Trustees (the &#147;<U>Board</U>&#148;) are in compliance in all material respects with Sarbanes-Oxley (as defined below) and all applicable Exchange Rules (as defined below);
(ii)&nbsp;the Company has adopted and disclosed corporate governance guidelines; (iii)&nbsp;the Company maintains a system of internal controls, including, but not limited to, disclosure controls and procedures, internal control over financial
reporting, an internal audit function and legal and regulatory compliance controls (collectively, &#147;<U>Internal Controls</U>&#148;), which complies with the Securities Laws (as defined below) and is overseen by the Audit Committee (the
&#147;<U>Audit Committee</U>&#148;) of the Board in accordance with Exchange Rules; (iv)&nbsp;since December&nbsp;31, 2009, the Company has not publicly disclosed or reported to the Audit Committee or the Board, and within the next 90 days the
Company does not reasonably expect to publicly disclose or report to the Audit Committee or the Board, a significant deficiency, material weakness, change in Internal Controls or fraud involving management or other employees who have a significant
role in Internal Controls (each, an &#147;<U>Internal Control Event</U>&#148;), any violation of, or failure to comply with, the Securities Laws, or any matter which, if determined adversely, would have a Material Adverse Effect; and
(v)&nbsp;&#147;Securities Laws&#148; means, collectively, the Sarbanes-Oxley Act of 2002 (&#147;<U>Sarbanes-Oxley</U>&#148;), the Securities Act, the Exchange Act, the rules and regulations of the Commission, the auditing principles, rules,
standards and practices applicable to auditors of &#147;issuers&#148; (as defined in Sarbanes-Oxley) promulgated or approved by the Public Company Accounting Oversight Board (&#147;<U>PCAOB Rules</U>&#148; and &#147;<U>PCAOB</U>,&#148;
respectively), and, as applicable, the rules of the New York Stock Exchange (&#147;<U>Exchange Rules</U>&#148;). There is and has been no failure on the part of the Company and any of the Company&#146;s trustees or officers, in their capacities as
such, to comply with Sarbanes-Oxley Section&nbsp;402 relating to loans and there is and has been no material failure on the part of the Company and any of the Company&#146;s trustees or officers, in their capacities as such to comply with
Sarbanes-Oxley Sections 302 and 906 relating to certifications. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(21) <U>Litigation</U>. Except as disclosed in the
Registration Statement and the Prospectus, there are no pending actions, suits or proceedings (including any inquiries or investigations by any court or governmental agency or body, domestic or foreign) against or affecting the Company, any of its
subsidiaries or any of their respective properties that, if determined adversely to the Company or any of its subsidiaries, would individually or in the aggregate have a Material Adverse Effect, or would materially and adversely affect the ability
of the Company to perform its obligations under this Agreement, or which are otherwise material in the context of the sale of the Securities; and no such actions, suits or proceedings (including any inquiries or investigations by any court or
governmental agency or body, domestic or foreign) are threatened or, to the Company&#146;s knowledge, contemplated. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">11 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(22) <U>No Registration Rights</U>. No holders of securities of the Company have
rights to the registration of such securities under the Registration Statement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(23) <U>Financial Statements</U>. The
consolidated historical financial statements and schedules of the Company and its consolidated subsidiaries included in the Registration Statement and the Prospectus present fairly the financial condition, results of operations, shareholders&#146;
equity and cash flows of the Company as of the dates and for the periods indicated, comply as to form with the applicable accounting requirements of the Securities Act and have been prepared in conformity with generally accepted accounting
principles applied on a consistent basis throughout the periods involved (except as otherwise noted therein). The selected financial data set forth under the caption &#147;Selected Financial Information&#148; in the Registration Statement and the
Prospectus fairly present, on the basis stated in the Registration Statement and the Prospectus, the information included therein. The pro forma financial statements included in Registration Statement and the Prospectus include assumptions that
provide a reasonable basis for presenting the significant effects directly attributable to the transactions and events described therein, the related pro forma adjustments give appropriate effect to those assumptions, and the pro forma adjustments
reflect the proper application of those adjustments to the historical financial statement amounts in the pro forma financial statements included in the Registration Statement and the Prospectus. The pro forma financial statements included in the
Registration Statement and the Prospectus comply as to form in all material respects with the applicable accounting requirements of Regulation <FONT STYLE="white-space:nowrap">S-X</FONT> under the Securities Act and the pro forma adjustments have
been properly applied to the historical amounts in the compilation of those statements. The historical summaries of revenue and certain operating expenses included in the Registration Statement and the Prospectus present fairly the revenue and those
operating expenses included in such summaries of the properties related thereto for the periods specified in conformity with GAAP. Any information contained in the Registration Statement or the Prospectus regarding
<FONT STYLE="white-space:nowrap">&#147;non-GAAP</FONT> financial measures&#148; (as defined in Regulation G of the Commission) complies with Regulation G and Item 10 of Regulation <FONT STYLE="white-space:nowrap">S-K</FONT> of the Commission, to the
extent applicable. The interactive data in eXtensible Business Reporting Language included or incorporated by reference in the Registration Statement and the Prospectus fairly presents the information called for in all material respects and is
prepared in accordance with the Commission&#146;s rules and guidelines applicable thereto. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(24) <U>Independent
Accountants</U>. The accountants, who certified the financial statements and delivered their reports with respect to the audited consolidated financial statements and supporting schedules included in the Registration Statement and the Prospectus,
are independent registered public accountants with respect to the Company within the meaning of the Securities Act and the applicable published rules and regulations thereunder. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">12 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(25) <U>No Prohibition on Dividends by Subsidiaries</U>. Except as otherwise
provided in a secured loan document relating to a property owned by a subsidiary, no Subsidiary of the Company is currently prohibited, directly or indirectly, from paying any dividends to the Company, from making any other distribution on such
Subsidiary&#146;s capital stock, from repaying to the Company any loans or advances to such subsidiary from the Company or from transferring any of such Subsidiary&#146;s property or assets to the Company or any other subsidiary of the Company,
except as described in or contemplated by the Registration Statement and the Prospectus (exclusive of any supplement thereto). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(26) <U>Absence of Manipulation</U>. The Company has not taken, directly or indirectly, any action designed to or that would
constitute or that might reasonably be expected to cause or result in stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Securities. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(27) <U>ERISA</U>. None of the following events has occurred or exists that would have a Material Adverse Effect: (i)&nbsp;a
failure to fulfill the obligations, if any, under the minimum funding standards of Section&nbsp;302 of the United States Employee Retirement Income Security Act of 1974, as amended (&#147;<U>ERISA</U>&#148;), and the regulations and published
interpretations thereunder with respect to a Plan, determined without regard to any waiver of such obligations or extension of any amortization period; (ii)&nbsp;an audit or investigation by the Internal Revenue Service, the U.S. Department of
Labor, the Pension Benefit Guaranty Corporation or any other federal or state governmental agency or any foreign regulatory agency with respect to the employment or compensation of employees by any of the Company or any of its subsidiaries;
(iii)&nbsp;any breach of any contractual obligation, or any violation of law or applicable qualification standards, with respect to the employment or compensation of employees by the Company or any of its subsidiaries. None of the following events
has occurred or is reasonably likely to occur: (i)&nbsp;a material increase in the aggregate amount of contributions required to be made to all Plans in the current fiscal year of the Company and its subsidiaries compared to the amount of such
contributions made in the most recently completed fiscal year of the Company and its subsidiaries; (ii)&nbsp;a material increase in the &#147;accumulated post-retirement benefit obligations&#148; (within the meaning of Statement of Financial
Accounting Standards 106) of the Company and its subsidiaries compared to the amount of such obligations in the most recently completed fiscal year of the Company and its subsidiaries; (iii)&nbsp;any event or condition giving rise to a liability
under Title IV of ERISA that would have a Material Adverse Effect; or (iv)&nbsp;the filing of a claim by one or more employees or former employees of the Company or any of its subsidiaries related to their employment that would have a Material
Adverse Effect. For purposes of this paragraph, the term &#147;Plan&#148; means a plan (within the meaning of Section&nbsp;3(3) of ERISA) subject to Title IV of ERISA with respect to which the Company or any of its subsidiaries may have any
liability. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(28) <U>Foreign Corrupt Practices Act</U>. Neither the Company nor any of its subsidiaries nor, to the
knowledge of the Company, any trustee, officer, agent, employee or affiliate of the Company or any of its subsidiaries is aware of or has taken any action, directly or indirectly, that would result in a violation by such persons of the Foreign
Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder (the &#147;<U>FCPA</U>&#148;), including, without limitation, making use of the mails or any means or </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">13 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
instrumentality of interstate commerce corruptly in furtherance of an offer, payment, promise to pay or authorization of the payment of any money, or other property, gift, promise to give, or
authorization of the giving of anything of value to any &#147;foreign official&#148; (as such term is defined in the FCPA) or any foreign political party or official thereof or any candidate for foreign political office, in contravention of the
FCPA; and the Company, its subsidiaries and, to the knowledge of the Company, its other affiliates have conducted their businesses in compliance with the FCPA. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(29) <U>Money Laundering Laws</U>. The operations of the Company and its subsidiaries are and have been conducted at all times
in compliance with applicable financial recordkeeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended, the money laundering statutes of all applicable jurisdictions, the rules and regulations
thereunder and any related or similar applicable rules, regulations or guidelines, issued, administered or enforced by any governmental agency (collectively, &#147;<U>Money Laundering Laws</U>&#148;) and no action, suit or proceeding by or before
any court or governmental agency, authority or body or any arbitrator involving the Company or any of its subsidiaries with respect to the Money Laundering Laws is pending or, to the knowledge of the Company, threatened. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(30) <U>OFAC</U>. Neither the Company nor any of its subsidiaries nor, to the knowledge of the Company, any trustee, officer,
agent, employee, affiliate or person acting on behalf of the Company or any of its subsidiaries is currently subject to any U.S. sanctions administered by the Office of Foreign Assets Control of the U.S. Treasury Department
(&#147;<U>OFAC</U>&#148;); and the Company will not directly or indirectly use any of the proceeds received by the Company from the sale of Securities contemplated by this Agreement, or lend, contribute or otherwise make available any such proceeds
to any subsidiary, joint venture partner or other person or entity, for the purpose of financing the activities of any person currently subject to any U.S. sanctions administered by OFAC. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(31) <U>Significant Subsidiaries</U>. The subsidiaries listed on <U>Exhibit D</U> attached hereto are the only significant
subsidiaries of the Company as defined by <FONT STYLE="white-space:nowrap">Rule&nbsp;1-02</FONT> of Regulation <FONT STYLE="white-space:nowrap">S-X.</FONT> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(32) <U>Lending Relationship</U>. Except as disclosed in the Registration Statement and the Prospectus, neither the Company nor
any of its subsidiaries has any outstanding borrowings from, or is a party to any line of credit, credit agreement or other credit facility or otherwise has a borrowing relationship with, any bank or other lending institution affiliated with BNYMCM,
and, except as disclosed in the Registration Statement and the Prospectus, the Company does not intend to use any of the proceeds from the sale of the Securities to repay any debt owed to BNYMCM or any affiliate thereof. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(33) <U>No Other Contracts</U>. There are no contracts or documents that are required to be described in the Registration
Statement or the Prospectus or the documents incorporated by reference therein or to be filed as exhibits thereto that have not been so described and filed as required. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">14 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(34) <U>Investment Company Act</U>. The Company is not and, after giving effect
to the offering and sale of the Securities and the application of the proceeds thereof as described in the Registration Statement and the Prospectus, will not be an &#147;investment company&#148; as defined in the Investment Company Act of 1940 (the
&#147;<U>Investment Company Act</U>&#148;). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(35) <U>Finder&#146;s Fee</U>. Other than this Agreement, there are no
contracts, agreements or understandings between the Company and any person that would give rise to a valid claim against the Company or BNYMCM for a brokerage commission, finder&#146;s fee or other like payment as a result of any transactions
contemplated by this Agreement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(36) <U>Proprietary Trading by BNYMCM</U>. The Company acknowledges and agrees that BNYMCM
has informed the Company that BNYMCM may, to the extent permitted under the Securities Act and the Exchange Act, purchase and sell shares of Common Stock for its own account and for the account of its clients while this Agreement is in effect, and
shall be under no obligation to purchase Securities on a principal basis pursuant to this Agreement, except as otherwise agreed by BNYMCM in the Placement Notice (as amended by the corresponding Acceptance, if applicable); provided, that no such
purchase or sales for BNYMCM&#146;s own account shall take place while a Placement Notice is in effect (except (i)&nbsp;as agreed by BNYMCM in the Placement Notice (as amended by the corresponding Acceptance, if applicable) or (ii)&nbsp;to the
extent BNYMCM may engage in sales of Placement Securities purchased or deemed purchased from the Company as a &#147;riskless principal&#148; or in a similar capacity). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(37) <U>No Material Adverse Change in Business</U>. Except as disclosed in the Prospectus, since the end of the period covered
by the latest audited financial statements included in the Prospectus (i)&nbsp;there has been no change, nor any development or event involving a prospective change, in the condition (financial or otherwise), results of operations, business,
properties or prospects of the Company and its subsidiaries, taken as a whole that is material and adverse, (ii)&nbsp;except for ordinary quarterly dividends, there has been no dividend or distribution of any kind declared, paid or made by the
Company on any class of its capital stock and (iii)&nbsp;there has been no material adverse change in the capital stock, short-term indebtedness, long-term indebtedness, net current assets or net assets of the Company and its subsidiaries. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(38) <U>Actively Traded Security</U>. Except under circumstances where the Company has provided BNYMCM with the notice required
pursuant to Section&nbsp;7(x) of this Agreement, the Common Stock is an &#147;actively traded security&#148; excepted from the requirements of Rule 101 of Regulation M under the Exchange Act by subsection&nbsp;(c)(1) of such rule. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(39) <U>NYSE</U>. The outstanding shares of Common Stock have been and the Securities to be sold by the Company hereunder will
have been approved for listing, subject only to official notice of issuance, on the NYSE, and are registered pursuant to Section&nbsp;12(b) of the Exchange Act, and the Company has taken no action designed to, or likely to have the effect of,
terminating the registration of the Securities under the Exchange Act or delisting any such securities from the NYSE, nor has the Company received any notification that the Commission or the NYSE is contemplating terminating such registration or
listing. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">15 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <I>Certificates</I>. Any certificate signed by any officer of the Company or any of its
subsidiaries and delivered to BNYMCM or to counsel for BNYMCM shall be deemed a representation and warranty by the Company to BNYMCM as to the matters covered thereby. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 6. <U>Sale and Delivery to BNYMCM; Settlement</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Sale of Placement Securities</I>. On the basis of the representations and warranties herein contained and subject to the terms and
conditions herein set forth, upon BNYMCM&#146;s acceptance of the terms of a Placement Notice or upon receipt by BNYMCM of an Acceptance, as the case may be, and unless the sale of the Placement Securities described therein has been declined,
suspended, or otherwise terminated in accordance with the terms of this Agreement, BNYMCM, for the period specified in the Placement Notice (as amended by the corresponding Acceptance, if applicable), will use its commercially reasonable efforts
consistent with its normal trading and sales practices to sell such Placement Securities up to the amount specified, and otherwise in accordance with the terms of such Placement Notice (as amended by the corresponding Acceptance, if applicable). The
Company acknowledges and agrees that (i)&nbsp;there can be no assurance that BNYMCM will be successful in selling Placement Securities, (ii)&nbsp;BNYMCM will incur no liability or obligation to the Company or any other person or entity if it does
not sell Placement Securities for any reason other than a failure by BNYMCM to use its commercially reasonable efforts consistent with its normal trading and sales practices to sell such Placement Securities as required under this Section&nbsp;6 and
(iii)&nbsp;BNYMCM shall be under no obligation to purchase Securities on a principal basis pursuant to this Agreement, except as otherwise agreed by BNYMCM in the Placement Notice (as amended by the corresponding Acceptance, if applicable). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <I>Settlement of Placement Securities</I>. Unless otherwise specified in the applicable Placement Notice (as amended by the corresponding
Acceptance, if applicable), settlement for sales of Placement Securities will occur on the second (2<SUP STYLE="font-size:85%; vertical-align:top">nd</SUP>) Trading Day (or such earlier day as is industry practice for
<FONT STYLE="white-space:nowrap">regular-way</FONT> trading) following the date on which such sales are made (each, a &#147;<U>Settlement Date</U>&#148;). The amount of proceeds to be delivered to the Company on a Settlement Date against receipt of
the Placement Securities sold (the &#147;<U>Net Proceeds</U>&#148;) will be equal to the aggregate sales price received by BNYMCM at which such Placement Securities were sold, after deduction for (i)&nbsp;BNYMCM&#146;s commission, discount or other
compensation for such sales payable by the Company pursuant to Section&nbsp;2 hereof, (ii)&nbsp;any other amounts due and payable by the Company to BNYMCM hereunder pursuant to Section&nbsp;8(a) hereof, and (iii)&nbsp;any transaction fees imposed by
any governmental or self-regulatory organization in respect of such sales. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <I>Delivery of Placement Securities</I>. On or before each
Settlement Date, the Company will, or will cause its transfer agent to, electronically transfer the Placement Securities being sold by crediting BNYMCM&#146;s or its designee&#146;s account (provided BNYMCM shall have given the Company written
notice of such designee prior to the Settlement Date) at The Depository Trust Company through its Deposit and Withdrawal at Custodian System or by such </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">16 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
other means of delivery as may be mutually agreed upon by the parties hereto which in all cases shall be freely tradable, transferable, registered shares in good deliverable form. On each
Settlement Date, BNYMCM will deliver the related Net Proceeds in same day funds to an account designated by the Company on, or prior to, the Settlement Date. The Company agrees that if the Company, or its transfer agent (if applicable), defaults in
its obligation to deliver Placement Securities on a Settlement Date, the Company agrees that in addition to and in no way limiting the rights and obligations set forth in Section&nbsp;10(a) hereto, it will (i)&nbsp;hold BNYMCM harmless against any
loss, liability, claim, damage, or expense whatsoever (including reasonable legal fees and expenses), as incurred, arising out of or in connection with such default by the Company or its transfer agent and (ii)&nbsp;pay to BNYMCM any commission,
discount, or other compensation to which it would otherwise have been entitled absent such default. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <I>Denominations;
Registration</I>. Certificates for the Securities shall be in such denominations and registered in such names as BNYMCM may request in writing at least one full business day before the Settlement Date. The Company shall deliver the Securities, if
any, through the facilities of The Depository Trust Company unless BNYMCM shall otherwise instruct. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) <I>Limitations on Offering
Size</I>. Under no circumstances shall the Company cause or request the offer or sale of any Securities, if after giving effect to the sale of such Securities, the aggregate offering price of the Securities sold pursuant to this Agreement would
exceed the lesser of (A)&nbsp;together with all sales of Securities under the Alternative Equity Distribution Agreements, the Maximum Amount, (B)&nbsp;the amount available for offer and sale under the currently effective Registration Statement and
(C)&nbsp;the amount authorized from time to time to be issued and sold under this Agreement and the Alternative Equity Distribution Agreements by the Company (which authorized amount shall be notified to BNYMCM in writing at any time upon
BNYMCM&#146;s written request during the pendency of an active Placement Notice). Under no circumstances shall the Company cause or request the offer or sale of any Securities pursuant to this Agreement and the Alternative Equity Distribution
Agreements at a price lower than the minimum price authorized from time to time by the Company (which minimum price shall be notified to BNYMCM in writing at any time upon BNYMCM&#146;s written request during the pendency of an active Placement
Notice). Further, under no circumstances shall the aggregate offering price of Securities sold pursuant to this Agreement and the Alternative Equity Distribution Agreements, including any separate underwriting or similar agreement covering principal
transactions described in Section&nbsp;1 of this Agreement, exceed the Maximum Amount. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f)
<I><FONT STYLE="white-space:nowrap">Black-out</FONT> Limitations</I>. Notwithstanding any other provision of this Agreement, the Company shall not offer or sell, or instruct BNYMCM to offer or sell, any Securities through BNYMCM as agent (and, by
notice to BNYMCM given by telephone (confirmed promptly by telecopy or email), shall cancel any instructions for any such offer or sale of any Securities prior to the commencement of the periods referenced below), and BNYMCM shall not be obligated
to make any such offer or sale of Securities, (i)&nbsp;during any period in which the Company is, or could be deemed to be, in possession of material <FONT STYLE="white-space:nowrap">non-public</FONT> information or (ii)&nbsp;except as provided in
Section&nbsp;6(f)(1) hereof, at any time from and including the date on which the Company issues a press release containing, or shall otherwise publicly announce, its earnings, revenues or other operating results for a fiscal period or periods
(each, an &#147;<U>Earnings Announcement</U>&#148;) through and including the time that is 24 hours after the time that the Company </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">17 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
files a Quarterly Report on Form <FONT STYLE="white-space:nowrap">10-Q</FONT> or an Annual Report on Form <FONT STYLE="white-space:nowrap">10-K</FONT> (a &#147;<U>Filing Time</U>&#148;) that
includes consolidated financial statements as of and for the same fiscal period or periods, as the case may be, covered by such Earnings Announcement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) If the Company wishes to offer or sell Securities to BNYMCM as agent at any time during the period from and including an
Earnings Announcement through and including the time that is 24 hours after the corresponding Filing Time, the Company shall first (i)&nbsp;prepare and deliver to BNYMCM (with a copy to counsel to BNYMCM) a Current Report on Form <FONT
STYLE="white-space:nowrap">8-K</FONT> that includes substantially the same financial and related information (together with management&#146;s discussion and analysis thereof) that was included in such Earnings Announcement (other than any earnings
projections and similar forward-looking data and officers&#146; quotations) (each, an &#147;<U>Earnings <FONT STYLE="white-space:nowrap">8-K</FONT></U>&#148;), in form and substance reasonably satisfactory to BNYMCM, and, prior to its filing, obtain
the written consent of BNYMCM to such filing (which consent shall not be unreasonably withheld or delayed), (ii) provide BNYMCM with the officers&#146; certificate, opinions and letters of counsel and accountants&#146; letter specified in
Section&nbsp;7(o), (p) and (q), respectively, hereof, (iii)&nbsp;afford BNYMCM the opportunity to conduct a due diligence review in accordance with Section&nbsp;7(m) hereof prior to filing such Earnings <FONT STYLE="white-space:nowrap">8-K</FONT>
and (iv)&nbsp;file such Earnings <FONT STYLE="white-space:nowrap">8-K</FONT> with the Commission, then the provision of clause (ii)&nbsp;of Section&nbsp;6(f) shall not be applicable for the period from and after the time at which the foregoing
conditions shall have been satisfied (or, if later, the time that is 24 hours after the time that the relevant Earnings Announcement was first publicly released) through and including the time that is 24 hours after the Filing Time of the relevant
Quarterly Report on Form <FONT STYLE="white-space:nowrap">10-Q</FONT> or Annual Report on Form <FONT STYLE="white-space:nowrap">10-K,</FONT> as the case may be. For purposes of clarity, the parties hereto agree that (A)&nbsp;the delivery of any
officers&#146; certificate, opinion or letter of counsel or accountants&#146; letter pursuant to this Section&nbsp;6(f) shall not relieve the Company from any of its obligations under this Agreement with respect to any Quarterly Report on Form <FONT
STYLE="white-space:nowrap">10-Q</FONT> or Annual Report on Form <FONT STYLE="white-space:nowrap">10-K,</FONT> as the case may be, including, without limitation, the obligation to deliver officers&#146; certificates, opinions and letters of counsel
and accountants&#146; letters as provided in Section&nbsp;7(o), (p) and (q), respectively, hereof, and (B)&nbsp;this Section&nbsp;6(f) shall in no way affect or limit the operation of clause (i)&nbsp;of Section&nbsp;6(f) hereof, which shall have
independent application. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 7. <U>Covenants of the Company</U>. The Company covenants with BNYMCM as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Registration Statement Amendments; Payment of Fees</I>. After the date of this Agreement and during any period in which a Prospectus
relating to any Placement Securities is required to be delivered by BNYMCM under the Securities Act (including in circumstances where such requirement may be satisfied pursuant to Rule 172 under the Securities Act), (i) the Company will notify
BNYMCM promptly of the time when any subsequent amendment to the Registration Statement, other than documents incorporated by reference, has been filed with the Commission and/or has become effective or any subsequent supplement to the Prospectus
has been filed and of any comment letter from the Commission or any request by the Commission for any amendment or supplement to the Registration Statement or Prospectus or for additional information; (ii)&nbsp;the Company will prepare and file with
the Commission, promptly upon </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">18 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
BNYMCM&#146;s request, any amendments or supplements to the Registration Statement or Prospectus that, in BNYMCM&#146;s reasonable opinion, may be necessary or advisable in connection with the
distribution of the Placement Securities by BNYMCM (<I>provided</I>, <I>however</I>, that the failure of BNYMCM to make such request shall not relieve the Company of any obligation or liability hereunder, or affect BNYMCM&#146;s right to rely on the
representations and warranties made by the Company in this Agreement); (iii) the Company will not file any amendment or supplement to the Registration Statement or Prospectus, other than documents incorporated by reference, relating to the Placement
Securities or a security convertible into the Placement Securities unless a copy thereof has been submitted to BNYMCM within a reasonable period of time before the filing and BNYMCM has not reasonably objected thereto (<I>provided</I>,
<I>however</I>, that the failure of BNYMCM to make such objection shall not relieve the Company of any obligation or liability hereunder, or affect BNYMCM&#146;s right to rely on the representations and warranties made by the Company in this
Agreement) and the Company will furnish to BNYMCM at the time of filing thereof a copy of any document that upon filing is deemed to be incorporated by reference into the Registration Statement or Prospectus, except for those documents available via
EDGAR; and (iv)&nbsp;the Company will cause each amendment or supplement to the Prospectus, other than documents incorporated by reference, to be filed with the Commission as required pursuant to the applicable paragraph of Rule 424(b) of the
Securities Act (without reliance on Rule 424(b)(8) of the Securities Act). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <I>Notice of Commission Stop Orders</I>. The Company will
advise BNYMCM, promptly after it receives notice or obtains knowledge thereof, of the issuance or threatened issuance by the Commission of any stop order suspending the effectiveness of the Registration Statement or of any other order preventing or
suspending the use of the Prospectus or any Issuer Free Writing Prospectus, or of the suspension of the qualification of the Placement Securities for offering or sale in any jurisdiction or of the loss or suspension of any exemption from any such
qualification, or of the initiation or threatening of any proceedings for any of such purposes, or of any examination pursuant to Section&nbsp;8(e) of the Securities Act concerning the Registration Statement or if the Company becomes the subject of
a proceeding under Section&nbsp;8A of the Securities Act in connection with the offering of the Securities. The Company will make every reasonable effort to prevent the issuance of any stop order, the suspension of any qualification of the
Securities for offering or sale and any loss or suspension of any exemption from any such qualification, and if any such stop order is issued or any such suspension or loss occurs, to obtain the lifting thereof at the earliest possible moment. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <I>Delivery of Registration Statement and Prospectus</I>. The Company will furnish to BNYMCM and its counsel (at the expense of the
Company) copies of the Registration Statement, the Prospectus (including all documents incorporated by reference therein) and all amendments and supplements to the Registration Statement or Prospectus, and any Issuer Free Writing Prospectuses, that
are filed with the Commission during any period in which a Prospectus relating to the Placement Securities is required to be delivered under the Securities Act (including all documents filed with the Commission during such period that are deemed to
be incorporated by reference therein), in each case as soon as reasonably practicable and in such quantities and at such locations as BNYMCM may from time to time reasonably request. The copies of the Registration Statement and the Prospectus and
any supplements or amendments thereto furnished to BNYMCM will be identical to the electronically transmitted copies thereof filed with the Commission pursuant to EDGAR, except to the extent permitted by Regulation
<FONT STYLE="white-space:nowrap">S-T.</FONT> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">19 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <I>Continued Compliance with Securities Laws</I>. If at any time when a Prospectus is
required by the Securities Act or the Exchange Act to be delivered in connection with a pending sale of the Placement Securities (including, without limitation, pursuant to Rule 172), any event shall occur or condition shall exist as a result of
which it is necessary, in the opinion of counsel for BNYMCM or for the Company, to amend the Registration Statement or amend or supplement the Prospectus in order that the Prospectus will not include any untrue statement of a material fact or omit
to state a material fact necessary in order to make the statements therein not misleading in the light of the circumstances existing at the time it is delivered to a purchaser, or if it shall be necessary, in the opinion of such counsel, at any such
time to amend the Registration Statement or amend or supplement the Prospectus in order to comply with the requirements of the Securities Act, the Company will promptly notify BNYMCM to suspend the offering of Placement Securities during such period
and the Company will promptly prepare and file with the Commission such amendment or supplement as may be necessary to correct such statement or omission or to make the Registration Statement or the Prospectus comply with such requirements, and the
Company will furnish to BNYMCM such number of copies of such amendment or supplement as BNYMCM may reasonably request. If at any time following issuance of an Issuer Free Writing Prospectus there occurred or occurs an event or development as a
result of which such Issuer Free Writing Prospectus conflicted, conflicts or would conflict with the information contained in the Registration Statement or the Prospectus or included, includes or would include an untrue statement of a material fact
or omitted, omits or would omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances, prevailing at that subsequent time, not misleading, the Company will promptly notify BNYMCM to suspend the
offering of Placement Securities during such period and the Company will, subject to Section&nbsp;7(a) hereof, promptly amend or supplement such Issuer Free Writing Prospectus to eliminate or correct such conflict, untrue statement or omission. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) <I>Blue Sky and Other Qualifications</I>. The Company will use its best efforts, in cooperation with BNYMCM, to qualify the Placement
Securities for offering and sale, or to obtain an exemption for the Securities to be offered and sold, under the applicable securities laws of such states and other jurisdictions (domestic or foreign) as BNYMCM may designate and to maintain such
qualifications and exemptions in effect for so long as required for the distribution of the Securities (but in no event for less than one year from the date of this Agreement); <I>provided</I>, <I>however</I>, that the Company shall not be obligated
to file any general consent to service of process or to qualify as a foreign corporation or as a dealer in securities in any jurisdiction in which it is not so qualified or to subject itself to taxation in respect of doing business in any
jurisdiction in which it is not otherwise so subject. In each jurisdiction in which the Placement Securities have been so qualified or exempt, the Company will file such statements and reports as may be required by the laws of such jurisdiction to
continue such qualification or exemption, as the case may be, in effect for so long as required for the distribution of the Placement Securities (but in no event for less than one year from the date of this Agreement). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) <I>Rule 158</I>. The Company will timely file such reports pursuant to the Exchange Act as are necessary in order to make generally
available to its securityholders as soon as reasonably practicable an earnings statement for the purposes of, and to provide to BNYMCM the benefits contemplated by, the last paragraph of Section&nbsp;11(a) of the Securities Act. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">20 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) <I>Use of Proceeds</I>. The Company will use the net proceeds received by it from the sale of
the Securities in the manner specified in the Prospectus under &#147;Use of Proceeds.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) <I>Listing</I>. During any period in
which the Prospectus relating to the Placement Securities is required to be delivered by BNYMCM under the Securities Act with respect to a pending sale of the Placement Securities (including in circumstances where such requirement may be satisfied
pursuant to Rule 172 under the Securities Act), the Company will use its commercially reasonable efforts to cause the Placement Securities to be listed on the NYSE. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) <I>Filings with the NYSE</I>. The Company will timely file with the NYSE all material documents and notices required by the NYSE of
companies that have or will issue securities that are traded on the NYSE. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) <I>Reporting Requirements</I>. The Company, during any
period when the Prospectus is required to be delivered under the Securities Act and the Exchange Act (including in circumstances where such requirement may be satisfied pursuant to Rule 172 under the Securities Act), will file all documents required
to be filed with the Commission pursuant to the Exchange Act within the time periods required by the Exchange Act. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k) <I>Notice of Other
Sales</I>. During the pendency of any Placement Notice delivered hereunder (as amended by the corresponding Acceptance, if applicable), the Company will not, without giving BNYMCM at least one (1)&nbsp;business day prior written notice specifying
the nature of the proposed sale and the date of such proposed sale , (A) offer, pledge, announce the intention to sell, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right
or warrant for the sale of, lend or otherwise transfer or dispose of, directly or indirectly, any Common Stock or securities convertible into or exchangeable or exercisable for or repayable with Common Stock, or file any registration statement under
the 1933 Act with respect to any of the foregoing (other than a shelf registration statement under Rule 415 under the 1933 Act, a registration statement on Form <FONT STYLE="white-space:nowrap">S-8</FONT> or post-effective amendment to the
Registration Statement) or (B)&nbsp;enter into any swap or other agreement or any transaction that transfers in whole or in part, directly or indirectly, any of the economic consequence of ownership of the Common Stock, or any securities convertible
into or exchangeable or exercisable for or repayable with Common Stock, whether any such swap or transaction described in clause (A)&nbsp;or (B) above is to be settled by delivery of Common Stock or such other securities, in cash or otherwise. The
foregoing sentence shall not apply to (i)&nbsp;the Common Stock to be offered and sold through BNYMCM and the Alternative Placement Agents pursuant to this Agreement and the Alternative Equity Distribution Agreements, (ii)&nbsp;any shares of Common
Stock issued by the Company upon the exercise of an option or warrant or the conversion, redemption or exchange of a security outstanding at the time such Placement Notice is delivered, including Common Stock issuable upon exchange of operating
partnership units of any operating partnership subsidiary of the Company (&#147;OP Units&#148;), (iii) any issuances of OP Units, (iv)&nbsp;Common Stock issuable pursuant to the Company&#146;s direct dividend reinvestment plan as it may be amended
or replaced from time to time, and (v)&nbsp;equity incentive awards approved by the Board or the compensation committee thereof or the issuance of Common Stock upon exercise thereof. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">21 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(l) <I>Change of Circumstances</I>. The Company will, at any time during a fiscal quarter in
which the Company intends to tender a Placement Notice or sell Placement Securities, advise BNYMCM promptly after it shall have received notice or obtained knowledge thereof, of any information or fact that would alter or affect in any material
respect any opinion, certificate, letter or other document provided to BNYMCM pursuant to this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(m) <I>Due Diligence
Cooperation</I>. The Company will cooperate with any reasonable due diligence review conducted by BNYMCM or its agents in connection with the transactions contemplated hereby, including, without limitation, providing information and making available
documents and senior officers, during regular business hours and at the Company&#146;s principal offices, as BNYMCM may reasonably request. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(n) <I>Representation Dates; Certificate</I>. On or prior to the date that the first Securities are sold pursuant to the terms of this
Agreement and: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) each time the Company: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) files the Prospectus relating to the Placement Securities or amends or supplements the Registration Statement or the
Prospectus relating to the Placement Securities by means of a post-effective amendment, sticker, or supplement but not by means of incorporation of documents by reference into the Registration Statement or the Prospectus relating to the Placement
Securities; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) files an annual report on Form <FONT STYLE="white-space:nowrap">10-K</FONT> under the Exchange Act; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) files a quarterly report on Form <FONT STYLE="white-space:nowrap">10-Q</FONT> under the Exchange Act; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) files a report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> containing amended financial information (other than an
earnings release, to &#147;furnish&#148; information pursuant to Items 2.02 or 7.01 of Form <FONT STYLE="white-space:nowrap">8-K)</FONT> under the Exchange Act; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) at any other time reasonably requested by BNYMCM (each such date of filing of one or more of the documents referred to in
clauses (1)(i) through (iv)&nbsp;and any time of request pursuant to this Section&nbsp;7(n) shall be a &#147;<U>Representation Date</U>&#148;), </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">the Company shall furnish BNYMCM with a certificate, in the form attached hereto as <U>Exhibit F</U> within two (2)&nbsp;Trading Days of any
Representation Date. Except as otherwise notified by BNYMCM with respect to a Representation Date on which the Company files its Form <FONT STYLE="white-space:nowrap">10-K,</FONT> the requirement to provide a certificate under this Section&nbsp;7(n)
shall be waived for any Representation Date occurring at a time at which no Placement Notice (as amended by the corresponding Acceptance, if applicable) is pending, which waiver shall continue until the earlier to occur of the date the Company
delivers a Placement Notice hereunder (which for such calendar quarter shall be considered a Representation Date) and the next occurring Representation Date. Notwithstanding the foregoing, if the Company subsequently decides to sell Placement
Securities following a Representation Date when the Company relied on such </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">22 </P>


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waiver and did not provide BNYMCM with a certificate under this Section&nbsp;7(n), then before the Company delivers the Placement Notice or BNYMCM sells any Placement Securities, the Company
shall provide BNYMCM with a certificate, in the form attached hereto as <U>Exhibit F</U>, dated the date of the Placement Notice. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(o)
<I>Legal Opinions.</I> On or prior to the date that the first Securities are sold pursuant to the terms of this Agreement, within two (2)&nbsp;Trading Days of each Representation Date with respect to which the Company is obligated to deliver a
certificate in the form attached hereto as <U>Exhibit F</U> for which no waiver is applicable, the Company shall cause to be furnished to BNYMCM written opinions of Hogan Lovells US LLP (&#147;<U>Company Counsel</U>&#148;), or other counsel
satisfactory to BNYMCM, in form and substance satisfactory to BNYMCM and its counsel, dated the date that the opinions are required to be delivered, substantially similar to the forms attached hereto as <U>Exhibit E</U>, modified, as necessary, to
relate to the Registration Statement and the Prospectus as then amended or supplemented; <I>provided</I>, <I>however</I>, that in lieu of such opinions for subsequent Representation Dates, counsel may furnish BNYMCM with a letter (a
&#147;<U>Reliance Letter</U>&#148;) to the effect that BNYMCM may rely on a prior opinion delivered under this Section&nbsp;7(o) to the same extent as if it were dated the date of such letter (except that statements in such prior opinion shall be
deemed to relate to the Registration Statement and the Prospectus as amended or supplemented at such Representation Date). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(p) <I>Comfort
Letter</I>. On or prior to the date that the first Securities are sold pursuant to the terms of this Agreement, within two (2)&nbsp;Trading Days of each Representation Date with respect to which the Company is obligated to deliver a certificate
substantially in the form attached hereto as <U>Exhibit F</U> for which no waiver is applicable, the Company shall cause its independent accountants (and any other independent accountants whose report is included in the Registration Statement or the
Prospectus) to furnish BNYMCM letters (the &#147;<U>Comfort Letters</U>&#148;), dated the date of the Comfort Letter is delivered, in form and substance satisfactory to BNYMCM, (i)&nbsp;confirming that they are an independent registered public
accounting firm within the meaning of the Securities Act, the Exchange Act and the PCAOB, (ii)&nbsp;stating, as of such date, the conclusions and findings of such firm with respect to the financial information and other matters ordinarily covered by
accountants&#146; &#147;comfort letters&#148; to underwriters in connection with registered public offerings (the first such letter, the &#147;<U>Initial Comfort Letter</U>&#148;) and (iii)&nbsp;updating the Initial Comfort Letter with any
information that would have been included in the Initial Comfort Letter had it been given on such date and modified as necessary to relate to the Registration Statement and the Prospectus, as amended and supplemented to the date of such letter. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(q) <I>Market Activities</I>. The Company will not, directly or indirectly, (i)&nbsp;take any action designed to cause or result in, or that
constitutes or might reasonably be expected to constitute, the stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Securities or (ii)&nbsp;sell, bid for, or purchase the Securities to be
issued and sold pursuant to this Agreement, or pay anyone any compensation for soliciting purchases of the Securities to be issued and sold pursuant to this Agreement other than BNYMCM; <I>provided</I>, <I>however</I>, that the Company may bid for
and purchase its Common Stock in accordance with Rule <FONT STYLE="white-space:nowrap">10b-18</FONT> under the Exchange Act; and provided further, that no such bids or purchases shall be made by the Company during the two (2)&nbsp;Trading Days
before or after any sale of any Securities pursuant to this Agreement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">23 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(r) <I>Insurance</I>. The Company and its subsidiaries shall maintain, or caused to be
maintained, insurance in such amounts and covering such risks as is reasonable and customary for companies engaged in similar businesses in similar industries, except where the failure to maintain such insurance would not have a Material Adverse
Effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(s) <I>Compliance with Laws</I>. The Company and each of its subsidiaries shall maintain, or cause to be maintained, all material
environmental permits, licenses and other authorizations required by federal, state and local law in order to conduct their businesses as described in the Prospectus, and the Company and each of its subsidiaries shall conduct their businesses, or
cause their businesses to be conducted, in substantial compliance with such permits, licenses and authorizations and with applicable environmental laws, except where the failure to maintain or be in compliance with such permits, licenses and
authorizations could not reasonably be expected to have a Material Adverse Effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(t) <I>Investment Company Act</I>. The Company will
conduct its affairs in such a manner so as to reasonably ensure that neither it nor its subsidiaries will be or become, at any time prior to the termination of this Agreement, an &#147;investment company,&#148; as such term is defined in the
Investment Company Act, assuming no change in the Commission&#146;s current interpretation as to entities that are not considered an investment company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(u) <I>Securities Act and Exchange Act</I>. The Company will use its best efforts to comply with all requirements imposed upon it by the
Securities Act and the Exchange Act as from time to time in force, so far as necessary to permit the continuance of sales of, or dealings in, the Placement Securities as contemplated by the provisions hereof and the Prospectus. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) <I>No Offer to Sell</I>. Other than a free writing prospectus (as defined in Rule 405 under the Securities Act) approved in advance in
writing by the Company and the Agents in their respective capacities as a principal or agent hereunder or under the Alternative Equity Distribution Agreements, the Company (including its agents and representatives, other than the Agents in their
respective capacities as such) will not, directly or indirectly, make, use, prepare, authorize, approve or refer to any free writing prospectus relating to the Securities to be sold by the Agents as principal or agent hereunder or under an
Alternative Equity Distribution Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(w) <I>Sarbanes-Oxley Act</I>. The Company and its subsidiaries will use their best efforts to
comply with all effective applicable provisions of the Sarbanes-Oxley Act of 2002. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(x) <I>Regulation M</I>. If the Company has reason to
believe that the exemptive provisions set forth in Rule 101(c)(1) of Regulation M under the Exchange Act are not satisfied with respect to the Company or the Common Stock, it shall promptly notify BNYMCM and sales of the Placement Securities under
this Agreement shall be suspended until that or other exemptive provisions have been satisfied in the judgment of each party. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(y) <I>REIT
Treatment</I>. The Company currently intends to continue to elect to qualify as a REIT under the Code and will use its best efforts to enable the Company to continue to meet the requirements for qualification and taxation as a REIT under the Code
for subsequent tax years that include any portion of the term of this Agreement; unless the Company&#146;s Board in good faith determines by resolution that it is in the best interests of the Company&#146;s stockholders not to meet such
requirements. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">24 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 8. <U>Payment of Expenses</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Expenses</I>. The Company will pay all expenses incident to the performance of its obligations under this Agreement, including
(i)&nbsp;the preparation, printing and filing of the Registration Statement (including financial statements and exhibits) as originally filed and of each amendment and supplement thereto, (ii)&nbsp;the word processing, printing and delivery to
BNYMCM of this Agreement and such other documents as may be required in connection with the offering, purchase, sale, issuance or delivery of the Placement Securities, (iii)&nbsp;the preparation, issuance and delivery of the certificates for the
Placement Securities to BNYMCM, including any stock or other transfer taxes and any capital duties, stamp duties or other duties or taxes payable upon the sale, issuance or delivery of the Placement Securities to BNYMCM, (iv)&nbsp;the fees and
disbursements of the counsel, accountants and other advisors to the Company, (v)&nbsp;the qualification or exemption of the Placement Securities under securities laws in accordance with the provisions of Section&nbsp;7(e) hereof, including filing
fees and the reasonable fees and disbursements of counsel for BNYMCM in connection therewith and in connection with the preparation of the Blue Sky Survey and any supplements thereto (not to exceed $10,000), (vi) the printing and delivery to BNYMCM
of copies of any permitted Free Writing Prospectus and the Prospectus and any amendments or supplements thereto and any costs associated with electronic delivery of any of the foregoing by BNYMCM to investors, (vii)&nbsp;the preparation, printing
and delivery to BNYMCM of copies of the Blue Sky Survey and any Canadian &#147;wrapper&#148; and any supplements thereto, (viii)&nbsp;the fees and expenses of the custodian and the transfer agent and registrar for the Securities, (ix)&nbsp;the
filing fees incident to, and the reasonable fees and disbursements of counsel to BNYMCM in connection with, any review by FINRA of the terms of the sale of the Securities, (x)&nbsp;the fees and expenses incurred in connection with the listing of the
Placement Securities on the NYSE, and (xi)&nbsp;if Securities having an aggregate offering price of $25,000,000 or more have not been offered and sold under this Agreement and the Alternative Equity Distribution Agreements by the eighteen month
anniversary of the date of this Agreement (or such earlier date at which the Company terminates this Agreement) (the &#147;<U>Determination Date</U>&#148;), the Company shall reimburse BNYMCM and the Alternative Placement Agents for all of their
reasonable <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">out-of-pocket</FONT></FONT> expenses, including the reasonable fees and disbursements of counsel for BNYMCM and the Alternative Placement Agents incurred by BNYMCM and the
Alternative Placement Agents in connection with the transactions contemplated by this Agreement (the &#147;<U>Expenses</U>&#148;); provided that the Company shall not be obligated to reimburse any such Expenses pursuant to this Agreement and
pursuant to the Alternative Equity Distribution Agreements in excess of $150,000 in the aggregate (and such $150,000 limit shall be reduced pro rata for any portion of such $25,000,000 of Securities actually sold pursuant to this Agreement and the
Alternative Distribution Agreements during such eighteen-month period (i.e., if, for example $6,250,000 of Securities are sold, such limit shall be $112,500; if, for example, $12,500,000 of Securities are sold, such limit shall be $75,000; and if,
for example, $18,750,000 of Securities are sold, such limit shall be $37,500)). The Expenses shall be due and payable by the Company to BNYMCM and the Alternative Placement Agents within five (5)&nbsp;business days of the Determination Date. The
Agents shall be solely responsible for allocating any reimbursement pursuant to this subsection among themselves. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">25 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <I>Termination of Agreement</I>. If this Agreement is terminated by BNYMCM in accordance with
the provisions of Section&nbsp;9(m) or Section&nbsp;13(a)(i) hereof, the Company shall reimburse BNYMCM for all of their out of pocket expenses, including the reasonable fees and disbursements of counsel for BNYMCM, unless Securities having an
aggregate offering price of $25,000,000 or more have previously been offered and sold under this Agreement and/or the Alternative Distribution Agreements. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 9. <U>Conditions of BNYMCM</U><U>&#146;</U><U>s Obligations</U>. The obligations of BNYMCM hereunder with respect to a Placement will
be subject to the continuing accuracy and completeness of the representations and warranties of the Company contained in this Agreement and in certificates of any officer of the Company or any subsidiary of the Company delivered pursuant to the
provisions hereof, to the performance by the Company of its covenants and other obligations hereunder, and to the following further conditions: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Effectiveness of Registration Statement</I>. The Registration Statement and any Rule 462(b) Registration Statement shall have become
effective and shall be available for (i)&nbsp;all sales of Placement Securities issued pursuant to all prior Placement Notices (each as amended by a corresponding Acceptance, if applicable) and (ii)&nbsp;the sale of all Placement Securities
contemplated to be issued by any Placement Notice (each as amended by a corresponding Acceptance, if applicable). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <I>No Material
Notices</I>. None of the following events shall have occurred and be continuing: (i)&nbsp;receipt by the Company or any of its subsidiaries of any request for additional information from the Commission or any other federal or state governmental
authority during the period of effectiveness of the Registration Statement, the response to which would require any post-effective amendments or supplements to the Registration Statement or the Prospectus; (ii)&nbsp;the issuance by the Commission or
any other federal or state governmental authority of any stop order suspending the effectiveness of the Registration Statement or the initiation of any proceedings for that purpose; (iii)&nbsp;receipt by the Company of any notification with respect
to the suspension of the qualification or exemption from qualification of any of the Placement Securities for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; or (iv)&nbsp;the occurrence of any event that
makes any material statement made in the Registration Statement or the Prospectus, or any Issuer Free Writing Prospectus, or any material document incorporated or deemed to be incorporated therein by reference untrue in any material respect or that
requires the making of any changes in the Registration Statement, related Prospectus, or any Issuer Free Writing Prospectus, or such documents so that, in the case of the Registration Statement, it will not contain any materially untrue statement of
a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading and, that in the case of the Prospectus and any Issuer Free Writing Prospectus, it will not contain any
materially untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <I>No Material Misstatement or Omission</I>. BNYMCM shall not have advised the Company that the Registration Statement or Prospectus, or
any Issuer Free Writing Prospectus, or any amendment or supplement thereto, contains an untrue statement of fact that in BNYMCM&#146;s reasonable opinion is material, or omits to state a fact that in BNYMCM&#146;s opinion is material and is required
to be stated therein or is necessary to make the statements therein not misleading. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">26 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <I>Material Changes</I>. Except as contemplated in the Prospectus, or disclosed in the
Company&#146;s reports filed with the Commission, there shall not have been any material adverse change in the condition, financial or otherwise, or in the results of operations, business affairs or business prospects of the Company and its
subsidiaries considered as one enterprise, whether or not arising in the ordinary course of business. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) <I>Opinions of Counsel for
Company</I>. BNYMCM shall have received the favorable opinions of Company Counsel, required to be delivered pursuant to Section&nbsp;7(o) on or before the date on which such delivery of such opinions is required pursuant to Section&nbsp;7(o). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) <I>Representation Certificate</I>. BNYMCM shall have received the certificate required to be delivered pursuant to Section&nbsp;7(n) on or
before the date on which delivery of such certificate is required pursuant to Section&nbsp;7(n). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) <I>Accountant&#146;s Comfort
Letter</I>. BNYMCM shall have received the Comfort Letter required to be delivered pursuant Section&nbsp;7(p) on or before the date on which such delivery of such opinion is required pursuant to Section&nbsp;7(p). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) <I>Opinion of Counsel for BNYMCM</I>. On or prior to the date that the first Securities are sold pursuant to the terms of this Agreement,
within two (2)&nbsp;Trading Days of each Representation Date with respect to which the Company is obligated to deliver a certificate in the form attached hereto as <U>Exhibit F</U> for which no waiver is applicable, BNYMCM shall have received the
favorable written opinion or opinions of Goodwin Procter LLP, counsel for BNYMCM, dated such date, with respect to such matters as BNYMCM may reasonably request. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) <I>Approval for Listing</I>. The Placement Securities shall either have been (i)&nbsp;approved for listing on NYSE, subject only to notice
of issuance, or (ii)&nbsp;the Company shall have filed an application for listing of the Placement Securities on NYSE at, or prior to, the issuance of any Placement Notice. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) <I>No Suspension</I>. Trading in the Securities shall not have been suspended on the NYSE. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k) <I>Additional Documents</I>. On each date on which the Company is required to deliver a certificate pursuant to Section&nbsp;7(n), counsel
for BNYMCM shall have been furnished with such documents and opinions as they may reasonably require for the purpose of enabling them to pass upon the issuance and sale of the Securities as herein contemplated, or in order to evidence the accuracy
of any of the representations or warranties, or the fulfillment of any of the conditions, contained in this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(l) <I>Securities
Act Filings Made</I>. All filings with the Commission required by Rule 424 under the Securities Act to have been filed prior to the issuance of any Placement Notice hereunder shall have been made within the applicable time period prescribed for such
filing by Rule 424. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">27 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(m) <I>Termination of Agreement</I>. If any condition specified in this Section&nbsp;9 shall not
have been fulfilled when and as required to be fulfilled, this Agreement may be terminated by BNYMCM by notice to the Company, and such termination shall be without liability of any party to any other party except as provided in Section&nbsp;8
hereof and except that, in the case of any termination of this Agreement, Sections&nbsp;5, 10, 11, 12 and 22 hereof shall survive such termination and remain in full force and effect. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 10. <U>Indemnification</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Indemnification by the Company</I>. The Company agrees to indemnify and hold harmless BNYMCM, its affiliates (as such term is defined
in Rule 501(b) of the Securities Act), and each person, if any, who controls BNYMCM within the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) against any and all loss, liability, claim, damage and expense whatsoever, as incurred, arising out of any untrue statement
or alleged untrue statement of a material fact contained in the Registration Statement (or any amendment thereto), including any information deemed to be a part thereof pursuant to Rule 430B, or the omission or alleged omission therefrom of a
material fact required to be stated therein or necessary to make the statements therein not misleading, or arising out of any untrue statement or alleged untrue statement of a material fact included (A)&nbsp;in any Issuer Free Writing Prospectus or
the Prospectus (or any amendment or supplement thereto) or (B)&nbsp;in any materials or information provided to investors by, or with the approval of, the Company in connection with the marketing of any offering of Securities (&#147;<U>Marketing
Materials&#148;)</U>, including any roadshow or investor presentations made to investors by the Company (whether in person or electronically), or the omission or alleged omission therefrom of a material fact necessary in order to make the statements
therein, in the light of the circumstances under which they were made, not misleading; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) against any and all loss,
liability, claim, damage and expense whatsoever, as incurred, to the extent of the aggregate amount paid in settlement of any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or of any claim
whatsoever based upon any such untrue statement or omission, or any such alleged untrue statement or omission; provided that (subject to Section&nbsp;10(d) below) any such settlement is effected with the written consent of the Company; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) against any and all expense whatsoever, as incurred (including the fees and disbursements of counsel chosen by BNYMCM),
reasonably incurred in investigating, preparing or defending against any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or any claim whatsoever based upon any such untrue statement or
omission, or any such alleged untrue statement or omission, to the extent that any such expense is not paid under (i)&nbsp;or (ii) above, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">28 </P>


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<I>provided</I>, <I>however</I>, that this indemnity agreement shall not apply to any loss, liability, claim, damage or expense to the extent arising out of any untrue statement or omission or
alleged untrue statement or omission made in reliance upon and in conformity with information furnished to the Company in writing by BNYMCM expressly for use therein, it being understood and agreed that the only such information furnished by BNYMCM
as of the date hereof consists of the Agent Information. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <I>Indemnification by BNYMCM</I>. BNYMCM agrees to indemnify and hold
harmless the Company, its trustees, each of its officers who signed the Registration Statement, and each person, if any, who controls the Company within the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act
against any and all loss, liability, claim, damage and expense described in the indemnity contained in subsection (a)&nbsp;of this Section&nbsp;10, as incurred, but only with respect to untrue statements or omissions, or alleged untrue statements or
omissions, made in the Registration Statement (or any amendment thereto), any Issuer Free Writing Prospectus or the Prospectus (or any amendment or supplement thereto) in reliance upon and in conformity with information furnished to the Company in
writing by BNYMCM expressly for use therein, it being understood and agreed that the only such information furnished by BNYMCM as of the date hereof consists of the Agent Information. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <I>Actions against Parties; Notification</I>. Each indemnified party shall give notice as promptly as reasonably practicable to each
indemnifying party of any action commenced against it in respect of which indemnity may be sought hereunder, but failure to so notify an indemnifying party shall not relieve such indemnifying party from any liability hereunder to the extent it is
not materially prejudiced as a result thereof and in any event shall not relieve it from any liability which it may have otherwise than on account of this indemnity agreement. Counsel to the indemnified parties shall be selected as follows: counsel
to BNYMCM and each person, if any, who controls BNYMCM within the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act shall be selected by BNYMCM; and counsel to the Company, its trustees, each of its officers who
signed the Registration Statement and each person, if any, who controls the Company within the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act shall be selected by the Company. An indemnifying party may
participate at its own expense in the defense of any such action; <I>provided</I>, <I>however</I>, that counsel to the indemnifying party shall not (except with the consent of the indemnified party) also be counsel to the indemnified party. In no
event shall the indemnifying parties be liable for the fees and expenses of more than one counsel (in addition to any local counsel) separate from their own counsel for BNYMCM and each person, if any, who controls BNYMCM within the meaning of
Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act, and the fees and expenses of more than one counsel (in addition to any local counsel) separate from their own counsel for the Company, its trustees, each of its officers
who signed the Registration Statement and each person, if any, who controls the Company within the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act, in each case in connection with any one action or separate
but similar or related actions in the same jurisdiction arising out of the same general allegations or circumstances. No indemnifying party shall, without the prior written consent of the indemnified parties, settle or compromise or consent to the
entry of any judgment with respect to any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or any claim whatsoever in respect of which indemnification or contribution could be sought under
this Section&nbsp;10 or Section&nbsp;11 hereof (whether or not the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">29 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
indemnified parties are actual or potential parties thereto), unless such settlement, compromise or consent (i)&nbsp;includes an unconditional release of each indemnified party from all liability
arising out of such litigation, investigation, proceeding or claim and (ii)&nbsp;does not include a statement as to or an admission of fault, culpability or a failure to act by or on behalf of any indemnified party. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <I>Settlement Without Consent if Failure to Reimburse</I>. If at any time an indemnified party shall have requested an indemnifying party
to reimburse the indemnified party for fees and expenses of counsel, such indemnifying party agrees that it shall be liable for any settlement of the nature contemplated by Section&nbsp;10(a)(ii) effected without its written consent if (i)&nbsp;such
settlement is entered into more than 45 days after receipt by such indemnifying party of the aforesaid request, (ii)&nbsp;such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement
being entered into and (iii)&nbsp;such indemnifying party shall not have reimbursed such indemnified party in accordance with such request prior to the date of such settlement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 11. <U>Contribution</U>. If the indemnification provided for in Section&nbsp;10 hereof is for any reason unavailable to or
insufficient to hold harmless an indemnified party in respect of any losses, liabilities, claims, damages or expenses referred to therein, then each indemnifying party shall contribute to the aggregate amount of such losses, liabilities, claims,
damages and expenses incurred by such indemnified party, as incurred, (i)&nbsp;in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and BNYMCM on the other hand from the offering of the
Securities pursuant to this Agreement or (ii)&nbsp;if the allocation provided by clause (i)&nbsp;is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i)&nbsp;above
but also the relative fault of the Company on the one hand and of BNYMCM on the other hand in connection with the statements or omissions. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The relative benefits received by the Company on the one hand and BNYMCM on the other hand in connection with the offering of the Securities
pursuant to this Agreement shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Securities pursuant to this Agreement (before deducting expenses) received by the Company and the total
commissions received by BNYMCM, in each case as set forth on the cover of the Prospectus, bear to the aggregate public offering price of the Securities as set forth on such cover. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The relative fault of the Company on the one hand and BNYMCM on the other hand shall be determined by reference to, among other things,
whether the untrue or the alleged untrue statement of a material fact or omission or alleged omission to state a material fact relates to information supplied by the Company or by BNYMCM and the parties&#146; relative intent, knowledge, access to
information and opportunity to correct or prevent such statement or omission. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company and BNYMCM agree that it would not be just and
equitable if contribution pursuant to this Section&nbsp;11 were determined by pro rata allocation or by any other method of allocation which does not take account of the equitable considerations referred to above in this
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">30 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;11. The aggregate amount of losses, liabilities, claims, damages and expenses incurred by an
indemnified party and referred to above in this Section&nbsp;11 shall be deemed to include any legal or other expenses reasonably incurred by such indemnified party in investigating, preparing or defending against any litigation, or any
investigation or proceeding by any governmental agency or body, commenced or threatened, or any claim whatsoever based upon any such untrue or alleged untrue statement or omission or alleged omission. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Notwithstanding the provisions of this Section&nbsp;11, BNYMCM shall not be required to contribute any amount in excess of the amount by which
the total price at which the Securities underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages which BNYMCM has otherwise been required to pay by reason of any such untrue or alleged untrue
statement or omission or alleged omission. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">No person guilty of fraudulent misrepresentation (within the meaning of Section&nbsp;11(f) of
the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">For
purposes of this Section&nbsp;11, each person, if any, who controls BNYMCM within the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act shall have the same rights to contribution as BNYMCM, and each trustee of
the Company, each officer of the Company who signed the Registration Statement, and each person, if any, who controls the Company within the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act shall have the same
rights to contribution as the Company. The Alternative Placement Agents&#146; respective obligations to contribute pursuant to this Section&nbsp;11 are several in proportion to the number of Securities placed or underwritten by it in the applicable
offering.<U> </U> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 12. <U>Representations, Warranties and Agreements to Survive Delivery</U>. All representations, warranties and
agreements contained in this Agreement or in certificates of officers of the Company or any of its subsidiaries submitted pursuant hereto, shall remain operative and in full force and effect, regardless of any investigation made by or on behalf of
BNYMCM or controlling person, or by or on behalf of the Company, and shall survive delivery of the Securities to BNYMCM. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 13.
<U>Termination of Agreement</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Termination; General</I>. BNYMCM may terminate this Agreement, by notice to the Company, as
hereinafter specified at any time (i)&nbsp;if there has been, since the time of execution of this Agreement or since the date as of which information is given in the Prospectus, any material adverse change in the condition, financial or otherwise,
or in the results of operations, business affairs or business prospects of the Company and its subsidiaries considered as one enterprise, whether or not arising in the ordinary course of business, or (ii)&nbsp;if there has occurred any material
adverse change in the financial markets in the United States or the international financial markets, any outbreak of hostilities or escalation thereof or other calamity or crisis or any change or development involving a prospective change in
national or international political, financial or economic conditions, in each case the effect of which is such as to make it, in the judgment of BNYMCM, impracticable or inadvisable to market the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">31 </P>


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Securities or to enforce contracts for the sale of the Securities, or (iii)&nbsp;if trading in the Placement Securities has been suspended or limited by the Commission or the NYSE, or if trading
generally on the NYSE American, the NYSE or the Nasdaq Stock Market has been suspended or limited, or minimum or maximum prices for trading have been fixed, or maximum ranges for prices have been required, by any of said exchanges or by order of the
Commission, the FINRA or any other governmental authority, or a material disruption has occurred in commercial banking or securities settlement or clearance services in the United States or in Europe, or (iv)&nbsp;if a banking moratorium has been
declared by either Federal or New York authorities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <I>Termination by the Company</I>. The Company shall have the right, by giving
three (3)&nbsp;days&#146; notice as hereinafter specified to terminate this Agreement in their sole discretion at any time after the date of this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <I>Termination by BNYMCM</I>. BNYMCM shall have the right, by giving three (3)&nbsp;days&#146; notice as hereinafter specified to
terminate this Agreement in its sole discretion at any time after the date of this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <I>Automatic Termination</I>. Unless
earlier terminated pursuant to this Section&nbsp;13, this Agreement shall automatically terminate upon the issuance and sale of all of the Placement Securities through BNYMCM and the Alternative Placement Agents on the terms and subject to the
conditions set forth herein and in the Alternative Equity Distribution Agreements with an aggregate sale price equal to the amount set forth in Section&nbsp;1 of this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) <I>Continued Force and Effect</I>. This Agreement shall remain in full force and effect unless terminated pursuant to Sections&nbsp;13(a),
(b), (c) or (d)&nbsp;above or otherwise by mutual agreement of the parties. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) <I>Effectiveness of Termination</I>. Any termination of
this Agreement shall be effective on the date specified in such notice of termination; <I>provided</I>, <I>however</I>, that such termination shall not be effective until the close of business on the date of receipt of such notice by BNYMCM or the
Company, as the case may be. If such termination shall occur prior to the Settlement Date for any sale of Placement Securities, such Placement Securities shall settle in accordance with the provisions of this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) <I>Liabilities</I>. If this Agreement is terminated pursuant to this Section&nbsp;13, such termination shall be without liability of any
party to any other party except as provided in Section&nbsp;8 hereof, and except that, in the case of any termination of this Agreement, Section&nbsp;5, Section&nbsp;10, Section&nbsp;11, Section&nbsp;12, and Section&nbsp;22 hereof shall survive such
termination and remain in full force and effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 14. <U>Notices</U>. Except as otherwise provided in this Agreement, all notices
and other communications hereunder shall be in writing and shall be deemed to have been duly given if mailed or transmitted by any standard form of telecommunication. Notices to BNYMCM shall be directed to BNYMCM at BNY Mellon Capital Markets, LLC,
101 Barclay Street, 3 West, New York, New York 10286, Attention: Michael Palma, Facsimile No.: <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">212-815-</FONT></FONT> 6403; notices to the Company shall be directed to it at 1775 Eye
Street NW, Suite 1000, Washington, D.C. 20006, fax no. (212) <FONT STYLE="white-space:nowrap">379-3554,</FONT> Attention of Stephen E. Riffee, Chief Financial Officer, cc: Taryn D. Fielder, General Counsel. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">32 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 15. <U>Parties</U>. This Agreement shall inure to the benefit of and be binding upon
BNYMCM, the Company and their respective successors. Nothing expressed or mentioned in this Agreement is intended or shall be construed to give any person, firm or corporation, other than BNYMCM, the Company and their respective successors and the
controlling persons and officers and trustees referred to in Sections&nbsp;10 and 11 and their heirs and legal representatives, any legal or equitable right, remedy or claim under or in respect of this Agreement or any provision herein contained.
This Agreement and all conditions and provisions hereof are intended to be for the sole and exclusive benefit of BNYMCM, the Company and their respective successors, and said controlling persons and officers and trustees and their heirs and legal
representatives, and for the benefit of no other person, firm or corporation. No purchaser of Securities from BNYMCM shall be deemed to be a successor by reason merely of such purchase. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 16. <U>Adjustments for Stock Splits</U>. The parties acknowledge and agree that all stock-related numbers contained in this Agreement
shall be adjusted to take into account any stock split, stock dividend or similar event effected with respect to the Securities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION
17. <U>Governing Law; Time and Jurisdiction</U>. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. <B></B>SPECIFIED TIMES OF DAY REFER TO NEW YORK CITY TIME. Any action, suit or proceeding to
enforce any provision of, or based on any matter arising out of or in connection with, this Agreement or the transactions contemplated hereby shall be brought in any federal court located in the Southern District of the State of New York or any New
York state court located in the Borough of Manhattan, and the Company agrees to the exclusive jurisdiction of such courts (and of the appropriate appellate courts therefrom) and each party waives (to the full extent permitted by law) any objection
it may have to the laying of venue of any such suit, action or proceeding in any such court or that any such suit, action or proceeding has been brought in an inconvenient forum. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 18. <U>Effect of Headings</U>. The Section and Exhibit headings herein are for convenience only and shall not affect the construction
hereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 19. <U>Counterparts</U>. This Agreement may be executed in two or more counterparts, each of which shall be deemed an
original, but all of which together shall constitute one and the same instrument. Delivery of an executed Agreement by one party to the other may be made by facsimile or <FONT STYLE="white-space:nowrap">e-mail</FONT> transmission. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">33 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 20. <U>Definitions</U>. As used in this Agreement, the following terms have the
respective meanings set forth below: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Applicable Time</U>&#148; means the time of each sale of any Securities or any securities
pursuant to this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Commission</U>&#148; means the Securities and Exchange Commission. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>EDGAR</U>&#148; means the Commission&#146;s Electronic Data Gathering, Analysis and Retrieval system. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Exchange Act</U>&#148; means the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission
thereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>FINRA</U>&#148; means the Financial Industry Regulatory Authority, Inc. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>GAAP</U>&#148; means generally accepted accounting principles. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Investment Company Act</U>&#148; means the Investment Company Act of 1940, as amended. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Issuer Free Writing Prospectus</U>&#148; means any &#147;issuer free writing prospectus,&#148; as defined in Rule 433, relating to
the Securities that (i)&nbsp;is required to be filed with the Commission by the Company, (ii)&nbsp;is a &#147;road show&#148; that is a &#147;written communication&#148; within the meaning of Rule 433(d)(8)(i) whether or not required to be filed
with the Commission, or (iii)&nbsp;is exempt from filing pursuant to Rule 433(d)(5)(i) because it contains a description of the Securities or of the offering that does not reflect the final terms, and all free writing prospectuses that are listed in
<U>Exhibit G</U> hereto, in each case in the form furnished (electronically or otherwise) to BNYMCM for use in connection with the offering of the Securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>NYSE</U>&#148; means the New York Stock Exchange. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Rule 163</U>,&#148; &#147;<U>Rule 164</U>,&#148; &#147;<U>Rule 172</U>,&#148; &#147;<U>Rule 405</U>,&#148; &#147;<U>Rule
415</U>,&#148; &#147;<U>Rule 424(b)</U>,&#148; &#147;<U>Rule 430B</U>,&#148; &#147;<U>Rule 433</U>&#148; and &#147;<U>Rule 462(b)</U>&#148; refer to such rules under the Securities Act. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Rule 462(b) Registration Statement</U>&#148; means a registration statement filed by the Company pursuant to Rule 462(b) for the
purpose of registering any of the Securities under the Securities Act, including the documents incorporated by reference therein and the Rule 430A Information. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Sarbanes-Oxley Act</U>&#148; means the Sarbanes-Oxley Act of 2002 and the rules and regulations promulgated thereunder or
implementing the provisions thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Securities Act</U>&#148; means the Securities Act of 1933, as amended, and the rules and
regulations of the Commission thereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">All references in this Agreement to financial statements and schedules and other information
that is &#147;contained,&#148; &#147;included&#148; or &#147;stated&#148; in the Registration Statement or the Prospectus (and all other references of like import) shall be deemed to mean and include all such financial statements and schedules and
other information that is incorporated by reference in the Registration Statement or the Prospectus, as the case may be. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">34 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">All references in this Agreement to the Registration Statement, any Rule 462(b) Registration
Statement, the Prospectus or any amendment or supplement to any of the foregoing shall be deemed to include the copy filed with the Commission pursuant to EDGAR; all references in this Agreement to any Issuer Free Writing Prospectus (other than any
Issuer Free Writing Prospectuses that, pursuant to Rule 433, are not required to be filed with the Commission) shall be deemed to include the copy thereof filed with the Commission pursuant to EDGAR; and all references in this Agreement to
&#147;supplements&#148; to the Prospectus shall include, without limitation, any supplements, &#147;wrappers&#148; or similar materials prepared in connection with any offering, sale or private placement of any Placement Securities by BNYMCM outside
of the United States. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 21. <U>Permitted Free Writing Prospectuses</U>. The Company represents, warrants and agrees that, unless it
obtains the prior consent of BNYMCM, and BNYMCM represents, warrants and agrees that, unless it obtains the prior consent of the Company, it has not made and will not make any offer relating to the Securities that would constitute an Issuer Free
Writing Prospectus, or that would otherwise constitute a &#147;free writing prospectus,&#148; as defined in Rule 405, required to be filed with the Commission. Any such free writing prospectus consented to by BNYMCM or by the Company, as the case
may be, is hereinafter referred to as a &#147;Permitted Free Writing Prospectus.&#148; The Company represents and warrants that it has treated and agrees that it will treat each Permitted Free Writing Prospectus as an &#147;issuer free writing
prospectus,&#148; as defined in Rule 433, and has complied and will comply with the requirements of Rule 433 applicable to any Permitted Free Writing Prospectus, including timely filing with the Commission where required, legending and record
keeping. For the purposes of clarity, the parties hereto agree that all free writing prospectuses, if any, listed in <U>Exhibit G</U> hereto are Permitted Free Writing Prospectuses. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 22. <U>Absence of Fiduciary Relationship</U>. The Company acknowledges and agrees that: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) BNYMCM is acting solely as agent and/or principal in connection with the public offering of the Securities and in connection with each
transaction contemplated by this Agreement and the process leading to such transactions, and no fiduciary or advisory relationship between the Company or any of its respective affiliates, stockholders (or other equity holders), creditors or
employees or any other party, on the one hand, and BNYMCM, on the other hand, has been or will be created in respect of any of the transactions contemplated by this Agreement, irrespective of whether or not BNYMCM has advised or is advising the
Company on other matters, and BNYMCM has no obligation to the Company with respect to the transactions contemplated by this Agreement except the obligations expressly set forth in this Agreement; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) any public offering price of the Securities set forth in this Agreement was not established by BNYMCM; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">35 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) it is capable of evaluating and understanding, and understands and accepts, the terms, risks
and conditions of the transactions contemplated by this Agreement; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) BNYMCM has not provided any legal, accounting, regulatory or tax
advice with respect to the transactions contemplated by this Agreement and it has consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) it is aware that BNYMCM and its respective affiliates are engaged in a broad range of transactions which may involve interests that differ
from those of the Company and BNYMCM has no obligation to disclose such interests and transactions to the Company by virtue of any fiduciary, advisory or agency relationship or otherwise; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) it waives, to the fullest extent permitted by law, any claims it may have against BNYMCM for breach of fiduciary duty or alleged breach of
fiduciary duty and agrees that BNYMCM shall not have any liability (whether direct or indirect, in contract, tort or otherwise) to it in respect of such a fiduciary duty claim or to any person asserting a fiduciary duty claim on its behalf or in
right of it or the Company, employees or creditors of Company. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">36 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If the foregoing is in accordance with your understanding of our agreement, please sign and
return to the Company a counterpart hereof, whereupon this instrument, along with all counterparts, will become a binding agreement between BNYMCM and the Company in accordance with its terms. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Very truly yours,</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">WASHINGTON REAL ESTATE INVESTMENT TRUST</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Stephen E. Riffee</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Name: Stephen E. Riffee</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Title: Executive Vice President and Chief Financial Officer</TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">CONFIRMED AND ACCEPTED, as of the </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">date first above written: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">BNY MELLON CAPITAL MARKETS, LLC </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="5%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="93%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Philip Benedict</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Authorized Signatory</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">37 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT A </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>FORM OF PLACEMENT NOTICE </U></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="5%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="16%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="75%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">From:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">[</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">]</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Cc:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">[`</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">]</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">To:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">[</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">]</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Subject: Equity Distribution&#151;Placement Notice </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Gentlemen: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the terms and subject to
the conditions contained in the Equity Distribution Agreement between Washington Real Estate Investment Trust (the &#147;<U>Company</U>&#148;) and BNY Mellon Capital Markets, LLC (&#147;<U>BNYMCM</U>&#148;) dated May&nbsp;4, 2018 (the
&#147;<U>Agreement</U>&#148;), I hereby request on behalf of the Company that BNYMCM sell up to [&#149;] [or $[&#149;] in aggregate offering price of] Common Shares of Beneficial Interest, par value $0.01 per share (the
&#147;<U>Securities</U>&#148;), at a minimum market price of $[&#149;] per share. The Company shall pay BNYMCM compensation equal to [&#149;]% of the gross proceeds from the sale of the Securities set forth in this Placement Notice. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>[ADDITIONAL SALES PARAMETERS MAY BE ADDED, SUCH AS THE TIME PERIOD IN WHICH SALES ARE REQUESTED TO BE MADE, SPECIFIC DATES THE SHARES MAY NOT BE SOLD ON,
THE MANNER IN WHICH SALES ARE TO BE MADE BY BNYMCM, AND/OR THE CAPACITY IN WHICH BNYMCM MAY ACT IN SELLING SHARES (AS PRINCIPAL, AGENT, OR BOTH)] </B></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A-1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT B </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>AUTHORIZED INDIVIDUALS FOR PLACEMENT NOTICES AND ACCEPTANCES </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>BNY Mellon Capital Markets, LLC </U></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Michael Palma
</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email: <U>michael.x.palma@bnymellon.com</U> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Equity Trading
Desk </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email: <U>bnymcm.equities@bnymellon.com</U> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Washington Real Estate Investment Trust</U></B> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Stephen
E. Riffee </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email: <U>sriffee@washreit.com</U> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Paul T.
McDermott </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email: <U>pmcdermott@washreit.com</U> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Taryn D.
Fielder </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email: <U>tfielder@washreit.com</U> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">B-1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT C </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>COMPENSATION </U></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">BNYMCM
shall be paid compensation equal to up to 2.0% of the gross proceeds from the sales of Securities pursuant to the terms of this Agreement. The actual compensation paid to BNYMCM shall be set forth in the applicable Placement Notice. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">C-1 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT D </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>SIGNIFICANT SUBSIDIARIES OF THE COMPANY </U></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="35%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="30%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="30%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:20.00pt; display:inline; font-size:8pt; font-family:Times New Roman; "><B>Name</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman"><B>Jurisdiction of</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1.00pt solid #000000; width:49.45pt; display:inline; font-size:8pt; font-family:Times New Roman; "><B>Organization</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:49.30pt; display:inline; font-size:8pt; font-family:Times New Roman; "><B>Type of Entity</B></P></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">WashREIT OP LLC</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Delaware</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Limited Liability Company</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">WashREIT OP Sub DC LLC</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Delaware</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Limited Liability Company</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">D-1 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT E </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>FORM OF OPINIONS OF COMPANY COUNSEL </U></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">E-1 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT F </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>OFFICER CERTIFICATE </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The
undersigned [&#149;], the duly qualified and elected [&#149;] of Washington Real Estate Investment Trust (&#147;<U>Company</U>&#148;), a Maryland real estate investment trust, does hereby certify in such capacity and on behalf of the Company,
pursuant to Section&nbsp;7(n) of each of the Equity Distribution Agreements dated May&nbsp;4, 2018 (collectively, the &#147;<U>Agreements</U>&#148;) between the Company and each of Wells Fargo Securities, LLC, BNY Mellon Capital Markets, LLC,
Capital One Securities, Inc., Citigroup Global Markets Inc., Goldman Sachs&nbsp;&amp; Co. LLC, J.P. Morgan Securities LLC, KeyBanc Capital Markets Inc. and SunTrust Robinson Humphrey, Inc. (collectively, the &#147;<U>Agents</U>&#148;) that to the
knowledge of the undersigned: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The representations and warranties of the Company in Section&nbsp;5 of each of the Agreements (A)&nbsp;to
the extent such representations and warranties are subject to qualifications and exceptions contained therein relating to materiality or Material Adverse Effect, are true and correct on and as of the date hereof with the same force and effect as if
expressly made on and as of the date hereof, except for those representations and warranties that speak solely as of a specific date and which were true and correct as of such date, and (B)&nbsp;to the extent such representations and warranties are
not subject to any qualifications or exceptions, are true and correct in all material respects as of the date hereof as if made on and as of the date hereof with the same force and effect as if expressly made on and as of the date hereof except for
those representations and warranties that speak solely as of a specific date and which were true and correct as of such date; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The
Company has complied in all material respects with all agreements and satisfied all conditions on their part to be performed or satisfied pursuant to each of the Agreements at or prior to the date hereof (other than those conditions waived by the
Agents). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-1 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT G </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>ISSUER FREE WRITING PROSPECTUSES </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">None </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">G-1 </P>

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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-1.3
<SEQUENCE>4
<FILENAME>d582540dex13.htm
<DESCRIPTION>EX-1.3
<TEXT>
<HTML><HEAD>
<TITLE>EX-1.3</TITLE>
</HEAD>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 1.3 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Washington Real Estate Investment Trust </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">$250,000,000 of Common Shares of Beneficial Interest </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EQUITY DISTRIBUTION AGREEMENT </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dated:
May&nbsp;4, 2018 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TABLE OF CONTENTS </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD></TD>
<TD></TD>
<TD></TD></TR>
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<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Page</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


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<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 1. Description of Securities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2. Placements</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 3. Sale of Placement Securities by Capital One Securities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4. Suspension of Sales</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 5. Representations and Warranties</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6. Sale and Delivery to Capital One Securities; Settlement</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7. Covenants of the Company</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 8. Payment of Expenses</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 9. Conditions of Capital One Securities&#146; Obligations</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 10. Indemnification</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">28</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11. Contribution</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">31</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 12. Representations, Warranties and Agreements to Survive Delivery</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">32</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 13. Termination of Agreement</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">32</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 14. Notices</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 15. Parties</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 16. Adjustments for Stock Splits</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 17. Governing Law; Time and Jurisdiction</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 18. Effect of Headings</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 19. Counterparts</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 20. Definitions</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 21. Permitted Free Writing Prospectuses</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 22. Absence of Fiduciary Relationship</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">36</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">i </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXHIBITS </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="7%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="88%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Exhibit&nbsp;A</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>&#150;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Form of Placement Notice</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Exhibit B</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>&#150;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Authorized Individuals for Placement Notices and Acceptances</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Exhibit C</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>&#150;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Compensation</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Exhibit D</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>&#150;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Significant Subsidiaries of the Company</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Exhibit E</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>&#150;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Form of Opinions of Company Counsel</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Exhibit F</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>&#150;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Officer Certificate</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Exhibit G</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>&#150;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Issuer Free Writing Prospectus</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ii </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Washington Real Estate Investment Trust </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">$250,000,000 of Common Shares of Beneficial Interest </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>EQUITY DISTRIBUTION AGREEMENT </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">May&nbsp;4, 2018 </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Capital One Securities, Inc.
</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">299 Park Avenue </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">New York, New York 10171 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ladies and Gentlemen: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Washington Real Estate
Investment Trust, a Maryland real estate investment trust (the &#147;<U>Company</U>&#148;), confirms its agreement (this &#147;<U>Agreement</U>&#148;) with Capital One Securities, Inc. (&#147;<U>Capital One Securities</U>&#148;), as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 1. <U>Description of Securities</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company agrees that, from time to time during the term of this Agreement, on the terms and subject to the conditions set forth herein, it
may issue and sell through Capital One Securities, acting as agent and/or principal, Common Shares of Beneficial Interest, par value $0.01 per share (the &#147;<U>Common Stock</U>&#148;), having an aggregate sale price of up to $250,000,000 (such
Common Shares, the &#147;Securities&#148;, and such maximum amount, the &#147;<U>Maximum Amount</U>&#148;). Notwithstanding anything to the contrary contained herein, the parties hereto agree that compliance with the limitations set forth in this
Section&nbsp;1 regarding the aggregate sale price of the Securities issued and sold under this Agreement shall be the sole responsibility of the Company, and Capital One Securities shall have no obligation in connection with such compliance. The
issuance and sale of the Securities through Capital One Securities will be effected pursuant to the Registration Statement (as defined below) filed by the Company with the Securities and Exchange Commission (the &#147;<U>Commission</U>&#148;), which
became effective upon filing, although nothing in this Agreement shall be construed as requiring the Company to use the Registration Statement to issue the Securities. The Company agrees that whenever it determines to sell Securities directly to
Capital One Securities as principal it will enter into a separate written agreement containing the terms and conditions of such sale. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The
Company has also entered into separate equity distribution agreements with respect to the Securities (each, an &#147;<U>Alternative Equity Distribution Agreement</U>&#148; and collectively, the &#147;<U>Alternative Equity Distribution
Agreements</U>&#148;), each dated as of the date hereof, with Wells Fargo Securities, LLC, BNY Mellon Capital Markets, LLC, Citigroup Global Markets Inc., Goldman Sachs&nbsp;&amp; Co. LLC, J.P. Morgan&nbsp;Securities LLC, KeyBanc&nbsp;Capital
Markets Inc. and SunTrust Robinson&nbsp;Humphrey, Inc. (each, an &#147;<U>Alternative Placement Agent</U>&#148; and collectively, the &#147;<U>Alternative Placement Agents</U>&#148;, and, together with Capital One Securities, the
&#147;<U>Agents</U>&#148;). The aggregate offering price of the Securities that may be sold pursuant to this Agreement and the Alternative Equity Distribution Agreements collectively shall not exceed the Maximum Amount. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company has filed, in accordance with the provisions of the Securities Act, with the
Commission a registration statement on Form <FONT STYLE="white-space:nowrap">S-3</FONT> (File <FONT STYLE="white-space:nowrap">No.&nbsp;333-224135),</FONT> including a base prospectus, relating to certain securities, including the Securities to be
issued from time to time by the Company, and which incorporates by reference documents that the Company has filed or will file in accordance with the provisions of the Securities Exchange Act of 1934, as amended, and the rules and regulations
thereunder (collectively, the &#147;<U>Exchange Act</U>&#148;). The Company has prepared a prospectus supplement specifically relating to the Securities (the &#147;<U>Prospectus Supplement</U>&#148;) to the base prospectus included as part of such
registration statement. The Company will furnish to Capital One Securities, for use by Capital One Securities, copies of the prospectus included as part of such registration statement, as supplemented by the Prospectus Supplement, relating to the
Securities. The &#147;<U>Registration Statement</U>&#148;, as of any time, means such registration statement as amended by any post-effective amendments thereto at such time, including the exhibits and any schedules thereto at such time, the
documents incorporated or deemed to be incorporated by reference therein at such time pursuant to Item 12 of Form <FONT STYLE="white-space:nowrap">S-3</FONT> under the Securities Act and the documents and information otherwise deemed to be a part
thereof as of such time pursuant to Rule 430B of the Securities Act (&#147;<U>Rule 430B</U>&#148;); <I>provided</I>, <I>however</I>, that the &#147;Registration Statement&#148; without reference to a time means such registration statement as amended
by any post-effective amendments thereto as of the time of the first contract of sale for the Securities, which time shall be considered the &#147;new effective date&#148; of the Registration Statement with respect to the Securities within the
meaning of paragraph (f)(2) of Rule 430B, including the exhibits and schedules thereto at such time, the documents and information incorporated or deemed to be incorporated by reference therein at such time pursuant to Item 12 of Form <FONT
STYLE="white-space:nowrap">S-3</FONT> under the Securities Act and the documents otherwise deemed to be a part thereof as of such time pursuant to Rule 430B. The base prospectus, including all documents incorporated therein by reference, included in
the Registration Statement, as it may be supplemented by the Prospectus Supplement, in the form in which such prospectus and/or Prospectus Supplement have most recently been filed by the Company with the Commission pursuant to Rule 424(b) under the
Securities Act is herein called the &#147;<U>Prospectus</U>.&#148; Any reference herein to the Registration Statement, the Prospectus or any amendment or supplement thereto shall be deemed to refer to and include the documents incorporated by
reference therein, and any reference herein to the terms &#147;amend,&#148; &#147;amendment&#148; or &#147;supplement&#148; with respect to the Registration Statement or the Prospectus shall be deemed to refer to and include the filing after the
execution hereof of any document with the Commission deemed to be incorporated by reference therein. For purposes of this Agreement, all references to the Registration Statement, the Prospectus or to any amendment or supplement thereto shall be
deemed to include any copy filed with the Commission pursuant to EDGAR. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 2. <U>Placements</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each time that the Company wishes to issue and sell the Securities hereunder (each, a &#147;<U>Placement</U>&#148;), it will notify Capital
One Securities by email notice (or other method mutually agreed to in writing by the parties) containing the parameters in accordance with which it desires the Securities to be sold, which shall at a minimum include the number or dollar amount of
</P>
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Securities to be issued (the &#147;<U>Placement Securities</U>&#148;), the time period during which sales are requested to be made, any limitation on the number or dollar amount of Securities
that may be sold in any one day and any minimum price below which sales may not be made (a &#147;<U>Placement Notice</U>&#148;), a form of which containing such minimum sales parameters necessary is attached hereto as <U>Exhibit A</U>. The Placement
Notice shall originate from any of the individuals from the Company set forth on <U>Exhibit B</U> (with a copy to each of the other individuals from the Company listed on such schedule), and shall be addressed to each of the individuals from Capital
One Securities set forth on <U>Exhibit B</U>, as such <U>Exhibit B</U> may be amended from time to time. If Capital One Securities wishes to accept such proposed terms included in the Placement Notice (which it may decline to do so for any reason in
its sole discretion) or, following discussion with the Company, wishes to accept amended terms, Capital One Securities will, prior to 4:30 p.m. (New York City time) on the Business Day following the Business Day on which such Placement Notice is
delivered to Capital One Securities, issue to the Company a notice by email (or other method mutually agreed to in writing by the parties) addressed to all of the individuals from the Company and Capital One Securities set forth on <U>Exhibit B</U>)
setting forth the terms that Capital One Securities is willing to accept. Where the terms provided in the Placement Notice are amended as provided for in the immediately preceding sentence, such terms will not be binding on the Company or Capital
One Securities until the Company delivers to Capital One Securities an acceptance by email (or other method mutually agreed to in writing by the parties) of all of the terms of such Placement Notice, as amended (the &#147;<U>Acceptance</U>&#148;),
which email shall be addressed to all of the individuals from the Company and Capital One Securities set forth on <U>Exhibit B</U>. The Placement Notice (as amended by the corresponding Acceptance, if applicable) shall be effective upon receipt by
the Company of Capital One Securities&#146; acceptance of the terms of the Placement Notice or upon receipt by Capital One Securities of the Company&#146;s Acceptance, as the case may be, unless and until (i)&nbsp;the entire amount of the Placement
Securities has been sold, (ii)&nbsp;in accordance with the notice requirements set forth in the second sentence of this paragraph, the Company terminates the Placement Notice, (iii)&nbsp;the Company issues a subsequent Placement Notice with
parameters superseding those on the earlier dated Placement Notice, (iv)&nbsp;this Agreement has been terminated under the provisions of Section&nbsp;13 or (v)&nbsp;either party shall have suspended the sale of the Placement Securities in accordance
with Section&nbsp;4 below. The amount of any discount, commission or other compensation to be paid by the Company to Capital One Securities in connection with the sale of the Placement Securities shall be calculated in accordance with the terms set
forth in <U>Exhibit C</U>. It is expressly acknowledged and agreed that neither the Company nor Capital One Securities will have any obligation whatsoever with respect to a Placement or any Placement Securities unless and until the Company delivers
a Placement Notice to Capital One Securities and either (i)&nbsp;Capital One Securities accepts the terms of such Placement Notice or (ii)&nbsp;where the terms of such Placement Notice are amended, the Company accepts such amended terms by means of
an Acceptance pursuant to the terms set forth above, and then only upon the terms specified in the Placement Notice (as amended by the corresponding Acceptance, if applicable) and herein. In the event of a conflict between the terms of this
Agreement and the terms of a Placement Notice (as amended by the corresponding Acceptance, if applicable), the terms of the Placement Notice (as amended by the corresponding Acceptance, if applicable) will control. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company agrees that any offer to sell or any sales of Securities pursuant to this Agreement or any Alternative Equity Distribution
Agreement shall only be effected by or through only one of Capital One Securities or an Alternative Placement Agent on any single </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


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given day, and the Company shall in no event request that Capital One Securities and an Alternative Placement Agent sell Securities on the same day; <I>provided, however, </I>that the foregoing
limitation shall only apply with respect to an agency transaction and shall not apply to any&nbsp;principal transaction effected at any time by any Agent and, provided further, such limitation shall not apply on any day during which no sales are
made pursuant to this Agreement. Notwithstanding the foregoing or anything to the contrary contained herein, the Company shall be permitted, at any time and from time to time, to engage one or more additional agents and/or principals, subject to
such additional agents and/or principals executing the expense reimbursement agreement then in effect among the Agents relating only to the sale of the Securities and the transactions contemplated by this Agreement and the Alternative Distribution
Agreements, that, once engaged, may offer to sell, solicit an offer to buy or sell the Securities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 3. <U>Sale of Placement
Securities by Capital One Securities</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Subject to the provisions of Section&nbsp;6(a), Capital One Securities, for the period
specified in the Placement Notice, will use its commercially reasonable efforts consistent with its normal trading and sales practices to sell the Placement Securities up to the amount specified, and otherwise in accordance with the terms of such
Placement Notice (as amended by the corresponding Acceptance, if applicable). Capital One Securities will provide written confirmation to the Company no later than the opening of the Trading Day (as defined below) immediately following the Trading
Day on which it has made sales of Placement Securities hereunder setting forth the number of Placement Securities sold on such day, the compensation payable by the Company to Capital One Securities pursuant to Section&nbsp;2 with respect to such
sales, and the Net Proceeds (as defined below) payable to the Company, with an itemization of the deductions made by Capital One Securities (as set forth in Section&nbsp;6(b)) from the gross proceeds that it receives from such sales. Subject to the
terms of the Placement Notice (as amended by the corresponding Acceptance, if applicable), Capital One Securities may sell Placement Securities by any method permitted by law deemed to be an &#147;at the market&#148; offering as defined in Rule 415
under the Securities Act, including without limitation sales made directly on the NYSE, on any other existing trading market for the Common Stock or to or through a market maker. Subject to the terms of the Placement Notice (as amended by the
corresponding Acceptance, if applicable), Capital One Securities may also sell Placement Securities by any other method permitted by law, including but not limited to in privately negotiated transactions, which may include block trades. The Company
acknowledges and agrees that (i)&nbsp;there can be no assurance that Capital One Securities will be successful in selling Placement Securities, and (ii)&nbsp;Capital One Securities will incur no liability or obligation to the Company or any other
person or entity if it does not sell Placement Securities for any reason other than a failure by Capital One Securities to use its commercially reasonable efforts consistent with its normal trading and sales practices to sell such Placement
Securities as required under this Section&nbsp;3. For the purposes hereof, &#147;<U>Trading Day</U>&#148; means any day on which shares of Common Stock are purchased and sold on the principal market on which the Common Stock is listed or quoted.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 4. <U>Suspension of Sales</U>. The Company or Capital One Securities may, upon notice to the other party in writing (including by
email correspondence to each of the individuals of the other party set forth on <U>Exhibit B</U>, if receipt of such correspondence is actually </P>
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acknowledged by any of the individuals to whom the notice is sent, other than via auto-reply) or by telephone (confirmed immediately by verifiable facsimile transmission or email correspondence
to each of the individuals of the other party set forth on <U>Exhibit B</U>), suspend any sale of Placement Securities; <I>provided</I>, <I>however</I>, that such suspension shall not affect or impair either party&#146;s obligations with respect to
any Placement Securities sold hereunder prior to the receipt of such notice or any Placement Securities sold under the Alternative Equity Distribution Agreements. Each of the parties agrees that no such notice under this Section&nbsp;4 shall be
effective against the other unless it is made to one of the individuals named on <U>Exhibit B</U> hereto, as such <U>Exhibit B</U> may be amended from time to time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 5. <U>Representations and Warranties</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Representations and Warranties by the Company</I>. The Company represents and warrants to Capital One Securities as of the date hereof
and as of each Representation Date (as defined below) on which a certificate is required to be delivered pursuant to Section&nbsp;7(n) of this Agreement, as of each Applicable Time and as of each Settlement Date (as defined below), and agrees with
Capital One Securities, as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) <U>Compliance with Registration Requirements</U>. The Securities have been duly
registered under the Securities Act pursuant to the Registration Statement. The Registration Statement has become effective under the Securities Act, or, with respect to any registration statement to be filed to register the offer and sale of the
Securities pursuant to Rule 462(b) under the Securities Act (a &#147;<U>Rule 462(b) Registration Statement</U>&#148;), will be filed with the Commission and become effective under the Securities Act no later than 10:00 p.m. (New York City time), on
the date of determination of the public offering price for the Securities, and no stop order preventing or suspending the use of any base prospectus, the Prospectus Supplement, the Prospectus or any Permitted Free Writing Prospectus (as defined
below), or the effectiveness of the Registration Statement or any Rule 462(b) Registration Statement and no proceedings for such purpose have been instituted or are pending or, to the knowledge of the Company, are contemplated by the Commission, and
any request on the part of the Commission for additional information has been complied with. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">At the respective times each
of the Registration Statement, any Rule 462(b) Registration Statement and any post-effective amendments thereto became or becomes effective and as of the date hereof, the Registration Statement, any Rule 462(b) Registration Statement and any
amendments and supplements thereto complied and will comply in all material respects with the requirements of the Securities Act. The conditions for the use of Form <FONT STYLE="white-space:nowrap">S-3,</FONT> as set forth in the General
Instructions thereto, and the Registration Statement meets, and the offering and sale of the Securities as contemplated hereby complies with, the requirements of Rule 415 under the Securities Act (including, without limitation, Rule 415(a)(5)). The
Registration Statement, as of the date hereof and each effective date with respect thereto, did not and will not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the
statements therein not misleading. Neither the Prospectus nor any amendments or supplements thereto, as of their respective dates, and at each Applicable </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>


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Time and Settlement Date, as the case may be, included or will include an untrue statement of a material fact or omitted or will omit to state a material fact necessary in order to make the
statements therein, in the light of the circumstances under which they were made, not misleading. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">The representations and
warranties set forth in the immediately preceding paragraph shall not apply to statements in or omissions from the Registration Statement or the Prospectus, as amended or supplemented, made in reliance upon and in conformity with information
furnished to the Company in writing by Capital One Securities expressly for use therein. For purposes of this Agreement, the only information so furnished as of the date hereof shall be Capital One Securities&#146; name (the &#147;<U>Agent
Information</U>&#148;). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">The copies of the Registration Statement and any Rule 462(b) Registration Statement and any
amendments thereto, any other preliminary prospectus, each Issuer Free Writing Prospectus that is required to be filed with the Commission pursuant to Rule 433 and the Prospectus and any amendments or supplements thereto delivered and to be
delivered to Capital One Securities (electronically or otherwise) in connection with the offering of the Securities were and will be identical to the electronically transmitted copies thereof filed with the Commission pursuant to EDGAR, except to
the extent permitted by Regulation <FONT STYLE="white-space:nowrap">S-T.</FONT> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each Issuer Free Writing Prospectus
relating to the Securities, as of its issue date and as of each Applicable Time and Settlement Date, did not, does not and will not include any information that conflicted, conflicts or will conflict with the information contained in the
Registration Statement or the Prospectus, including any incorporated document deemed to be a part thereof that has not been superseded or modified, or included, includes or will include an untrue statement of a material fact or omitted, omits or
will omit to state a material fact necessary in order to make the statements therein, in light of the circumstances, prevailing at that subsequent time, not misleading. The foregoing sentence does not apply to statements in or omissions from any
Issuer Free Writing Prospectus based upon and in conformity with written information furnished to the Company by Capital One Securities specifically for use therein. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">At the time of the initial filing of the Registration Statement, at the time of the most recent amendment thereto for the
purposes of complying with Section&nbsp;10(a)(3) of the Securities Act (whether such amendment was by post-effective amendment, incorporated report filed pursuant to Section&nbsp;13 or 15(d) of the Exchange Act or form of prospectus), at the time
the Company or another offering participant made a bona fide offer (within the meaning, for this paragraph only, of Rule 164(h)(2) of the Securities Act), the Company was and is a &#147;well-known seasoned issuer&#148; as defined in Rule 405 of the
Securities Act, including not having been and not being an &#147;ineligible issuer,&#148; as defined in Rule 405 of the Securities Act; and, without limitation to the foregoing, the Company has at all relevant times met, meets and will at all
relevant times meet the requirements of Rule 164 for the use of a free writing prospectus (as defined in Rule 405) in connection with the offering contemplated hereby. The Company agrees to pay the fees required by the Commission relating to the
Securities within the time required by Rule 456(b)(1) without regard to the proviso therein and otherwise in accordance with Rules 456(b) and 457(r). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each document incorporated by reference in the Registration Statement or the
Prospectus heretofore filed, when it was filed (or, if any amendment with respect to any such document was filed, when such amendment was filed), conformed in all material respects with the requirements of the Exchange Act, and any further documents
so filed and incorporated after the date of this Agreement will, when they are filed, conform in all material respects with the requirements of the Exchange Act; no such document when it was filed (or, if an amendment with respect to any such
document was filed, when such amendment was filed), contained an untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make the statements therein not misleading; and no such
document, when it is filed, will contain an untrue statement of a material fact or will omit to state a material fact required to be stated therein or necessary in order to make the statements therein not misleading. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) <U>Prior Written Communications</U>. Any offer that is a written communication relating to the Securities made prior to the
initial filing of the Registration Statement by the Company or any person acting on its behalf (within the meaning, for this paragraph only, of Rule 163(c) of the Securities Act) has been filed with the Commission in accordance with the exemption
provided by Rule 163 of the Securities Act and otherwise complied with the requirements of Rule 163 of the Securities Act, including without limitation the legending requirement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) <U>Good Standing of Company</U>. The Company has been duly organized and is validly existing as a real estate investment
trust of unlimited duration with transferable shares of beneficial interest in good standing under the laws of the State of Maryland, with full power and authority to own, lease and operate its properties and to conduct its business as described in
the Registration Statement and the Prospectus and to enter into this Agreement and to consummate the transactions contemplated by the Registration Statement and the Prospectus. The Company is duly qualified to transact business and is in good
standing in each jurisdiction in which such qualification is required, whether by reason of the ownership or leasing of property or the conduct of business, except where the failure to so qualify or be in good standing would not result in a material
adverse change in the condition, financial or otherwise, or the results of operations, business, properties or prospects of the Company and its subsidiaries considered as one enterprise, whether or not arising in the ordinary course of business (a
&#147;<U>Material Adverse Effect</U>&#148;). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) <U>Subsidiaries</U>. Each &#147;significant subsidiary&#148; of the
Company (as such term is defined in Rule <FONT STYLE="white-space:nowrap">1-02</FONT> of Regulation <FONT STYLE="white-space:nowrap">S-X</FONT> promulgated under the Securities Act) (each, a &#147;Subsidiary&#148; and, collectively, the
&#147;Subsidiaries&#148;) (which term includes corporations, limited and general partnerships, limited liability companies, joint ventures and other entities, and includes direct and indirect subsidiaries), has been duly organized and is validly
existing as a corporation, limited liability company or partnership, as the case may be, in good standing under the laws of the jurisdiction of its incorporation or organization, has power and authority to own, lease and operate its properties and
to conduct its business as described in the Registration Statement and the Prospectus and is </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>


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duly qualified to transact business and is in good standing in each jurisdiction in which such qualification is required, whether by reason of the ownership or leasing of property or the conduct
of business, except where the failure to so qualify or be in good standing would not result in a Material Adverse Effect. Except as otherwise stated in the Registration Statement or the Prospectus, all of the issued and outstanding capital stock or
other ownership interests of each subsidiary have been duly authorized and validly issued, are fully paid and <FONT STYLE="white-space:nowrap">non-assessable</FONT> and are owned by the Company, directly or through subsidiaries, free and clear of
any security interest, mortgage, pledge, lien, encumbrance, claim or equity; and none of the outstanding shares of capital stock of any subsidiary was issued in violation of preemptive or other similar rights of any security holder of such
subsidiary. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(5) <U>Capitalization</U>. The Securities and all other outstanding Common Stock have been duly authorized;
the authorized equity capitalization of the Company is as set forth in the Prospectus; all outstanding Common Stock is, and, when the Securities have been delivered and paid for in accordance with this Agreement or any Alternative Equity
Distribution Agreement, such Securities will have been, validly issued, fully paid and nonassessable, will be consistent with the information in the Prospectus and will conform to the description thereof contained in the Prospectus; the shareholders
of the Company have no preemptive rights with respect to the Securities; and none of the outstanding Common Stock has been issued in violation of any preemptive or similar rights of any security holder. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(6) <U>Absence of Further Requirements</U>. No consent, approval, authorization, or order of, or filing or registration with,
any person (including any governmental agency or body or any court) is required for the consummation by the Company of the transactions contemplated by this Agreement in connection with the offering, issuance and sale of the Securities by the
Company, except such as have been obtained under the Securities Act, and such as may be required under state securities laws. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(7) <U>Title to Property</U>. The Company and its subsidiaries have good and marketable title to, or valid and enforceable
leasehold estates in, all items of real and personal property referred to in the Registration Statement and the Prospectus as owned or leased by them, in each case free and clear of all liens, encumbrances, claims, security interests and defects,
other than those disclosed in the Registration Statement or the Prospectus or that would not, individually or in the aggregate, have a Material Adverse Effect. The Company has no reasonable basis to believe that the lessee under any lease calling
for annual lease payments in excess of one percent of the Company&#146;s annual revenue for its last fiscal year is not financially capable of performing its obligations thereunder (excluding leases for which rent payments due for the remainder of
such lease are less than such amount). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(8) <U>Absence of Defaults and Conflicts Resulting from Transaction</U>. The
execution, delivery and performance of this Agreement, and the issuance and sale of the Securities and compliance with the terms and provisions thereof will not result in a breach or violation of any of the terms and provisions of, or constitute a
default or a Debt Repayment Triggering Event (as defined below) under, or result in the imposition of any </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>


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lien, charge or encumbrance upon any property or assets of the Company or any of its subsidiaries pursuant to, the declaration of trust, partnership agreement, charter or bylaws or other
organizational documents of the Company or any of its subsidiaries, any statute, rule, regulation or order of any governmental agency or body or any court, domestic or foreign, having jurisdiction over the Company or any of its subsidiaries or any
of their properties, or any agreement or instrument to which the Company or any of its subsidiaries is a party or by which the Company or any of its subsidiaries is bound or to which any of the properties of the Company or any of its subsidiaries is
subject; a &#147;Debt Repayment Triggering Event&#148; means any event or condition that gives, or with the giving of notice or lapse of time would give, the holder of any note, debenture, or other evidence of indebtedness (or any person acting on
such holder&#146;s behalf) the right to require the repurchase, redemption or repayment of all or a portion of such indebtedness by the Company or any of its subsidiaries. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(9) <U>Absence of Existing Defaults and Conflicts</U>. Neither the Company nor any of its subsidiaries is (i)&nbsp;in violation
of its respective declaration of trust, partnership agreement, charter or bylaws or other organizational document or (ii)&nbsp;in default (or with the giving of notice or lapse of time would be in default) under any existing obligation, agreement,
covenant or condition contained in any indenture, loan agreement, mortgage, lease or other agreement or instrument to which any of them is a party or by which any of them is bound or to which any of the properties of any of them is subject or
(iii)&nbsp;in violation of any law or statute or any judgment, order, rule or regulation of any court or arbitrator or governmental or regulatory authority, except, in the case of clauses (ii)&nbsp;and (iii) above, for any such default or violation
that would not, individually or in the aggregate, have a Material Adverse Effect or materially and adversely affect the ability of the Company to perform its obligations under this Agreement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(10) <U>Authorization of Agreement</U>. This Agreement has been duly authorized, executed and delivered by the Company. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(11) <U>Possession of Licenses and Permits</U>. The Company and its subsidiaries possess, and are in compliance with the terms
of, all certificates, authorizations, franchises, licenses and permits (&#147;<U>Licenses</U>&#148;) necessary or material to the conduct of the business now conducted or proposed in the Registration Statement and the Prospectus to be conducted by
them and have not received any notice of proceedings relating to the revocation or modification of any Licenses that, if determined adversely to the Company or any of its subsidiaries, would individually or in the aggregate have a Material Adverse
Effect. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(12) <U>Absence of Labor Dispute</U>. No labor dispute with the employees of the Company or any of its
subsidiaries exists or, to the knowledge of the Company, is imminent, and the Company is not aware of any existing or imminent labor disturbance by the employees of any of its or its subsidiaries&#146; principal suppliers, contractors or customers,
that, in any such case, would have a Material Adverse Effect. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">9 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(13) <U>Possession of Intellectual Property</U>. The Company and its subsidiaries
own, possess or can acquire on reasonable terms, adequate trademarks, trade names and other rights to inventions, <FONT STYLE="white-space:nowrap">know-how,</FONT> patents, copyrights, confidential information and other intellectual property
(collectively, &#147;intellectual property rights&#148;) necessary to conduct the business now operated by them, or presently employed by them, and have not received any notice of infringement of or conflict with asserted rights of others with
respect to any intellectual property rights that, if determined adversely to the Company or any of its subsidiaries, would individually or in the aggregate have a Material Adverse Effect. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(14) <U>Environmental Laws</U>. Except as disclosed in the Registration Statement and the Prospectus, neither the Company nor
any of its subsidiaries is in violation of any statute, any rule, regulation, decision or order of any governmental agency or body or any court, domestic or foreign, relating to the use, disposal or release of hazardous or toxic substances or
relating to the protection or restoration of the environment or human exposure to hazardous or toxic substances (collectively, &#147;environmental laws&#148;), owns or operates any real property contaminated with any substance that is subject to any
environmental laws, is liable for any <FONT STYLE="white-space:nowrap">off-site</FONT> disposal or contamination pursuant to any environmental laws, or is subject to any claim relating to any environmental laws, which violation, contamination,
liability or claim would individually or in the aggregate have a Material Adverse Effect; and the Company is not aware of any pending investigation which might lead to such a claim. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(15) <U>Accurate Disclosure</U>. The statements in, or incorporated by reference into, the Registration Statement and the
Prospectus under the headings &#147;Description of Shares,&#148; &#147;Description of Common Shares,&#148; &#147;Material U.S. Federal Income Tax Considerations&#148; and &#147;Risk Factors&#148; and the statements in the Registration Statement
under Item 15 insofar as such statements summarize legal matters, agreements, documents or proceedings discussed therein, are accurate and fair summaries of such legal matters, agreements, documents or proceedings and present the information
required to be shown in all material respects. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(16) <U>REIT Status</U>. With respect to all tax periods regarding which
the Internal Revenue Service is or will be entitled to assert any claim, the Company has met the requirements for qualification as a real estate investment trust (&#147;<U>REIT</U>&#148;) under Sections 856 through 860 of the Internal Revenue Code,
as amended (the &#147;<U>Code</U>&#148;), and the Company&#146;s current organization and present and contemplated operations, assets and income as described in the Registration Statement and the Prospectus will permit the Company to continue to
meet such requirements. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(17) <U>Insurance</U>. The Company and its subsidiaries are insured by insurers of recognized
financial responsibility against such losses and risks and in such amounts as are prudent and customary in the businesses in which they are engaged; the Company has no reason to believe that it or any of its subsidiaries will not be able to renew
its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business at a cost that would not have a Material Adverse Effect; and the Company and each of
its subsidiaries has obtained title insurance on all of the properties owned by each of them in an amount at least equal to the original purchase price to acquire land and improvements and such title insurance is in full force and effect. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">10 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(18) <U>Taxes</U>. The Company has filed all federal, state and foreign income
tax returns that have been required to be filed and has paid all taxes indicated by said returns and all assessments, fines and penalties received by it to the extent that such taxes, assessments, fines or penalties have become due. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(19) <U>Statistical and Market-Related Data</U>. Any third-party statistical and market-related data included or incorporated
by reference in the Registration Statement or the Prospectus are based on or derived from sources that the Company believes to be reliable and accurate. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(20) <U>Compliance with Sarbanes-Oxley Act</U>. Except as set forth in the Registration Statement and the Prospectus,
(i)&nbsp;the Company, its subsidiaries and the Company&#146;s Board of Trustees (the &#147;<U>Board</U>&#148;) are in compliance in all material respects with Sarbanes-Oxley (as defined below) and all applicable Exchange Rules (as defined below);
(ii)&nbsp;the Company has adopted and disclosed corporate governance guidelines; (iii)&nbsp;the Company maintains a system of internal controls, including, but not limited to, disclosure controls and procedures, internal control over financial
reporting, an internal audit function and legal and regulatory compliance controls (collectively, &#147;<U>Internal Controls</U>&#148;), which complies with the Securities Laws (as defined below) and is overseen by the Audit Committee (the
&#147;<U>Audit Committee</U>&#148;) of the Board in accordance with Exchange Rules; (iv)&nbsp;since December&nbsp;31, 2009, the Company has not publicly disclosed or reported to the Audit Committee or the Board, and within the next 90 days the
Company does not reasonably expect to publicly disclose or report to the Audit Committee or the Board, a significant deficiency, material weakness, change in Internal Controls or fraud involving management or other employees who have a significant
role in Internal Controls (each, an &#147;<U>Internal Control Event</U>&#148;), any violation of, or failure to comply with, the Securities Laws, or any matter which, if determined adversely, would have a Material Adverse Effect; and
(v)&nbsp;&#147;Securities Laws&#148; means, collectively, the Sarbanes-Oxley Act of 2002 (&#147;<U>Sarbanes-Oxley</U>&#148;), the Securities Act, the Exchange Act, the rules and regulations of the Commission, the auditing principles, rules,
standards and practices applicable to auditors of &#147;issuers&#148; (as defined in Sarbanes-Oxley) promulgated or approved by the Public Company Accounting Oversight Board (&#147;<U>PCAOB Rules</U>&#148; and &#147;<U>PCAOB</U>,&#148;
respectively), and, as applicable, the rules of the New York Stock Exchange (&#147;<U>Exchange Rules</U>&#148;). There is and has been no failure on the part of the Company and any of the Company&#146;s trustees or officers, in their capacities as
such, to comply with Sarbanes-Oxley Section&nbsp;402 relating to loans and there is and has been no material failure on the part of the Company and any of the Company&#146;s trustees or officers, in their capacities as such to comply with
Sarbanes-Oxley Sections 302 and 906 relating to certifications. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(21) <U>Litigation</U>. Except as disclosed in the
Registration Statement and the Prospectus, there are no pending actions, suits or proceedings (including any inquiries or investigations by any court or governmental agency or body, domestic or foreign) against or affecting the Company, any of its
subsidiaries or any of their respective properties that, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">11 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
if determined adversely to the Company or any of its subsidiaries, would individually or in the aggregate have a Material Adverse Effect, or would materially and adversely affect the ability of
the Company to perform its obligations under this Agreement, or which are otherwise material in the context of the sale of the Securities; and no such actions, suits or proceedings (including any inquiries or investigations by any court or
governmental agency or body, domestic or foreign) are threatened or, to the Company&#146;s knowledge, contemplated. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(22)
<U>No Registration Rights</U>. No holders of securities of the Company have rights to the registration of such securities under the Registration Statement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(23) <U>Financial Statements</U>. The consolidated historical financial statements and schedules of the Company and its
consolidated subsidiaries included in the Registration Statement and the Prospectus present fairly the financial condition, results of operations, shareholders&#146; equity and cash flows of the Company as of the dates and for the periods indicated,
comply as to form with the applicable accounting requirements of the Securities Act and have been prepared in conformity with generally accepted accounting principles applied on a consistent basis throughout the periods involved (except as otherwise
noted therein). The selected financial data set forth under the caption &#147;Selected Financial Information&#148; in the Registration Statement and the Prospectus fairly present, on the basis stated in the Registration Statement and the Prospectus,
the information included therein. The pro forma financial statements included in Registration Statement and the Prospectus include assumptions that provide a reasonable basis for presenting the significant effects directly attributable to the
transactions and events described therein, the related pro forma adjustments give appropriate effect to those assumptions, and the pro forma adjustments reflect the proper application of those adjustments to the historical financial statement
amounts in the pro forma financial statements included in the Registration Statement and the Prospectus. The pro forma financial statements included in the Registration Statement and the Prospectus comply as to form in all material respects with the
applicable accounting requirements of Regulation <FONT STYLE="white-space:nowrap">S-X</FONT> under the Securities Act and the pro forma adjustments have been properly applied to the historical amounts in the compilation of those statements. The
historical summaries of revenue and certain operating expenses included in the Registration Statement and the Prospectus present fairly the revenue and those operating expenses included in such summaries of the properties related thereto for the
periods specified in conformity with GAAP. Any information contained in the Registration Statement or the Prospectus regarding <FONT STYLE="white-space:nowrap">&#147;non-GAAP</FONT> financial measures&#148; (as defined in Regulation G of the
Commission) complies with Regulation G and Item 10 of Regulation <FONT STYLE="white-space:nowrap">S-K</FONT> of the Commission, to the extent applicable. The interactive data in eXtensible Business Reporting Language included or incorporated by
reference in the Registration Statement and the Prospectus fairly presents the information called for in all material respects and is prepared in accordance with the Commission&#146;s rules and guidelines applicable thereto. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(24) <U>Independent Accountants</U>. The accountants, who certified the financial statements and delivered their reports with
respect to the audited consolidated financial statements and supporting schedules included in the Registration Statement and the Prospectus, are independent registered public accountants with respect to the Company within the meaning of the
Securities Act and the applicable published rules and regulations thereunder. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">12 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(25) <U>No Prohibition on Dividends by Subsidiaries</U>. Except as otherwise
provided in a secured loan document relating to a property owned by a subsidiary, no Subsidiary of the Company is currently prohibited, directly or indirectly, from paying any dividends to the Company, from making any other distribution on such
Subsidiary&#146;s capital stock, from repaying to the Company any loans or advances to such subsidiary from the Company or from transferring any of such Subsidiary&#146;s property or assets to the Company or any other subsidiary of the Company,
except as described in or contemplated by the Registration Statement and the Prospectus (exclusive of any supplement thereto). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(26) <U>Absence of Manipulation</U>. The Company has not taken, directly or indirectly, any action designed to or that would
constitute or that might reasonably be expected to cause or result in stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Securities. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(27) <U>ERISA</U>. None of the following events has occurred or exists that would have a Material Adverse Effect: (i)&nbsp;a
failure to fulfill the obligations, if any, under the minimum funding standards of Section&nbsp;302 of the United States Employee Retirement Income Security Act of 1974, as amended (&#147;<U>ERISA</U>&#148;), and the regulations and published
interpretations thereunder with respect to a Plan, determined without regard to any waiver of such obligations or extension of any amortization period; (ii)&nbsp;an audit or investigation by the Internal Revenue Service, the U.S. Department of
Labor, the Pension Benefit Guaranty Corporation or any other federal or state governmental agency or any foreign regulatory agency with respect to the employment or compensation of employees by any of the Company or any of its subsidiaries;
(iii)&nbsp;any breach of any contractual obligation, or any violation of law or applicable qualification standards, with respect to the employment or compensation of employees by the Company or any of its subsidiaries. None of the following events
has occurred or is reasonably likely to occur: (i)&nbsp;a material increase in the aggregate amount of contributions required to be made to all Plans in the current fiscal year of the Company and its subsidiaries compared to the amount of such
contributions made in the most recently completed fiscal year of the Company and its subsidiaries; (ii)&nbsp;a material increase in the &#147;accumulated post-retirement benefit obligations&#148; (within the meaning of Statement of Financial
Accounting Standards 106) of the Company and its subsidiaries compared to the amount of such obligations in the most recently completed fiscal year of the Company and its subsidiaries; (iii)&nbsp;any event or condition giving rise to a liability
under Title IV of ERISA that would have a Material Adverse Effect; or (iv)&nbsp;the filing of a claim by one or more employees or former employees of the Company or any of its subsidiaries related to their employment that would have a Material
Adverse Effect. For purposes of this paragraph, the term &#147;Plan&#148; means a plan (within the meaning of Section&nbsp;3(3) of ERISA) subject to Title IV of ERISA with respect to which the Company or any of its subsidiaries may have any
liability. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">13 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(28) <U>Foreign Corrupt Practices Act</U>. Neither the Company nor any of its
subsidiaries nor, to the knowledge of the Company, any trustee, officer, agent, employee or affiliate of the Company or any of its subsidiaries is aware of or has taken any action, directly or indirectly, that would result in a violation by such
persons of the Foreign Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder (the &#147;<U>FCPA</U>&#148;), including, without limitation, making use of the mails or any means or instrumentality of interstate commerce
corruptly in furtherance of an offer, payment, promise to pay or authorization of the payment of any money, or other property, gift, promise to give, or authorization of the giving of anything of value to any &#147;foreign official&#148; (as such
term is defined in the FCPA) or any foreign political party or official thereof or any candidate for foreign political office, in contravention of the FCPA; and the Company, its subsidiaries and, to the knowledge of the Company, its other affiliates
have conducted their businesses in compliance with the FCPA. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(29) <U>Money Laundering Laws</U>. The operations of the
Company and its subsidiaries are and have been conducted at all times in compliance with applicable financial recordkeeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended, the money laundering
statutes of all applicable jurisdictions, the rules and regulations thereunder and any related or similar applicable rules, regulations or guidelines, issued, administered or enforced by any governmental agency (collectively, &#147;<U>Money
Laundering Laws</U>&#148;) and no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the Company or any of its subsidiaries with respect to the Money Laundering Laws is pending or,
to the knowledge of the Company, threatened. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(30) <U>OFAC</U>. Neither the Company nor any of its subsidiaries nor, to the
knowledge of the Company, any trustee, officer, agent, employee, affiliate or person acting on behalf of the Company or any of its subsidiaries is currently subject to any U.S. sanctions administered by the Office of Foreign Assets Control of the
U.S. Treasury Department (&#147;<U>OFAC</U>&#148;); and the Company will not directly or indirectly use any of the proceeds received by the Company from the sale of Securities contemplated by this Agreement, or lend, contribute or otherwise make
available any such proceeds to any subsidiary, joint venture partner or other person or entity, for the purpose of financing the activities of any person currently subject to any U.S. sanctions administered by OFAC. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(31) <U>Significant Subsidiaries</U>. The subsidiaries listed on <U>Exhibit D</U> attached hereto are the only significant
subsidiaries of the Company as defined by <FONT STYLE="white-space:nowrap">Rule&nbsp;1-02</FONT> of Regulation <FONT STYLE="white-space:nowrap">S-X.</FONT> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(32) <U>Lending Relationship</U>. Except as disclosed in the Registration Statement and the Prospectus, neither the Company nor
any of its subsidiaries has any outstanding borrowings from, or is a party to any line of credit, credit agreement or other credit facility or otherwise has a borrowing relationship with, any bank or other lending institution affiliated with Capital
One Securities, and, except as disclosed in the Registration Statement and the Prospectus, the Company does not intend to use any of the proceeds from the sale of the Securities to repay any debt owed to Capital One Securities or any affiliate
thereof. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">14 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(33) <U>No Other Contracts</U>. There are no contracts or documents that are
required to be described in the Registration Statement or the Prospectus or the documents incorporated by reference therein or to be filed as exhibits thereto that have not been so described and filed as required. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(34) <U>Investment Company Act</U>. The Company is not and, after giving effect to the offering and sale of the Securities and
the application of the proceeds thereof as described in the Registration Statement and the Prospectus, will not be an &#147;investment company&#148; as defined in the Investment Company Act of 1940 (the &#147;<U>Investment Company Act</U>&#148;).
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(35) <U>Finder&#146;s Fee</U>. Other than this Agreement, there are no contracts, agreements or understandings between the
Company and any person that would give rise to a valid claim against the Company or Capital One Securities for a brokerage commission, finder&#146;s fee or other like payment as a result of any transactions contemplated by this Agreement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(36) <U>Proprietary Trading by Capital One Securities</U>. The Company acknowledges and agrees that Capital One Securities has
informed the Company that Capital One Securities may, to the extent permitted under the Securities Act and the Exchange Act, purchase and sell shares of Common Stock for its own account and for the account of its clients while this Agreement is in
effect, and shall be under no obligation to purchase Securities on a principal basis pursuant to this Agreement, except as otherwise agreed by Capital One Securities in the Placement Notice (as amended by the corresponding Acceptance, if
applicable); provided, that no such purchase or sales for Capital One Securities&#146; own account shall take place while a Placement Notice is in effect (except (i)&nbsp;as agreed by Capital One Securities in the Placement Notice (as amended by the
corresponding Acceptance, if applicable) or (ii)&nbsp;to the extent Capital One Securities may engage in sales of Placement Securities purchased or deemed purchased from the Company as a &#147;riskless principal&#148; or in a similar capacity). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(37) <U>No Material Adverse Change in Business</U>. Except as disclosed in the Prospectus, since the end of the period covered
by the latest audited financial statements included in the Prospectus (i)&nbsp;there has been no change, nor any development or event involving a prospective change, in the condition (financial or otherwise), results of operations, business,
properties or prospects of the Company and its subsidiaries, taken as a whole that is material and adverse, (ii)&nbsp;except for ordinary quarterly dividends, there has been no dividend or distribution of any kind declared, paid or made by the
Company on any class of its capital stock and (iii)&nbsp;there has been no material adverse change in the capital stock, short-term indebtedness, long-term indebtedness, net current assets or net assets of the Company and its subsidiaries. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(38) <U>Actively Traded Security</U>. Except under circumstances where the Company has provided Capital One Securities with the
notice required pursuant to Section&nbsp;7(x) of this Agreement, the Common Stock is an &#147;actively traded security&#148; excepted from the requirements of Rule 101 of Regulation M under the Exchange Act by subsection&nbsp;(c)(1) of such rule.
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">15 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(39) <U>NYSE</U>. The outstanding shares of Common Stock have been and the
Securities to be sold by the Company hereunder will have been approved for listing, subject only to official notice of issuance, on the NYSE, and are registered pursuant to Section&nbsp;12(b) of the Exchange Act, and the Company has taken no action
designed to, or likely to have the effect of, terminating the registration of the Securities under the Exchange Act or delisting any such securities from the NYSE, nor has the Company received any notification that the Commission or the NYSE is
contemplating terminating such registration or listing. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <I>Certificates</I>. Any certificate signed by any officer of the Company or
any of its subsidiaries and delivered to Capital One Securities or to counsel for Capital One Securities shall be deemed a representation and warranty by the Company to Capital One Securities as to the matters covered thereby. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 6. <U>Sale and Delivery to Capital One Securities; Settlement</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Sale of Placement Securities</I>. On the basis of the representations and warranties herein contained and subject to the terms and
conditions herein set forth, upon Capital One Securities&#146; acceptance of the terms of a Placement Notice or upon receipt by Capital One Securities of an Acceptance, as the case may be, and unless the sale of the Placement Securities described
therein has been declined, suspended, or otherwise terminated in accordance with the terms of this Agreement, Capital One Securities, for the period specified in the Placement Notice (as amended by the corresponding Acceptance, if applicable), will
use its commercially reasonable efforts consistent with its normal trading and sales practices to sell such Placement Securities up to the amount specified, and otherwise in accordance with the terms of such Placement Notice (as amended by the
corresponding Acceptance, if applicable). The Company acknowledges and agrees that (i)&nbsp;there can be no assurance that Capital One Securities will be successful in selling Placement Securities, (ii)&nbsp;Capital One Securities will incur no
liability or obligation to the Company or any other person or entity if it does not sell Placement Securities for any reason other than a failure by Capital One Securities to use its commercially reasonable efforts consistent with its normal trading
and sales practices to sell such Placement Securities as required under this Section&nbsp;6 and (iii)&nbsp;Capital One Securities shall be under no obligation to purchase Securities on a principal basis pursuant to this Agreement, except as
otherwise agreed by Capital One Securities in the Placement Notice (as amended by the corresponding Acceptance, if applicable). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b)
<I>Settlement of Placement Securities</I>. Unless otherwise specified in the applicable Placement Notice (as amended by the corresponding Acceptance, if applicable), settlement for sales of Placement Securities will occur on the second (2<SUP
STYLE="font-size:85%; vertical-align:top">nd</SUP>) Trading Day (or such earlier day as is industry practice for <FONT STYLE="white-space:nowrap">regular-way</FONT> trading) following the date on which such sales are made (each, a
&#147;<U>Settlement Date</U>&#148;). The amount of proceeds to be delivered to the Company on a Settlement Date against receipt of the Placement Securities sold (the &#147;<U>Net Proceeds</U>&#148;) will be equal to the aggregate sales price
received by Capital One Securities at which such Placement Securities were sold, after deduction for (i)&nbsp;Capital One Securities&#146; commission, discount or other compensation for such sales payable by the Company pursuant to Section&nbsp;2
hereof, (ii)&nbsp;any other amounts due and payable by the Company to Capital One Securities hereunder pursuant to Section&nbsp;8(a) hereof, and (iii)&nbsp;any transaction fees imposed by any governmental or self-regulatory organization in respect
of such sales. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">16 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <I>Delivery of Placement Securities</I>. On or before each Settlement Date, the Company will,
or will cause its transfer agent to, electronically transfer the Placement Securities being sold by crediting Capital One Securities&#146; or its designee&#146;s account (provided Capital One Securities shall have given the Company written notice of
such designee prior to the Settlement Date) at The Depository Trust Company through its Deposit and Withdrawal at Custodian System or by such other means of delivery as may be mutually agreed upon by the parties hereto which in all cases shall be
freely tradable, transferable, registered shares in good deliverable form. On each Settlement Date, Capital One Securities will deliver the related Net Proceeds in same day funds to an account designated by the Company on, or prior to, the
Settlement Date. The Company agrees that if the Company, or its transfer agent (if applicable), defaults in its obligation to deliver Placement Securities on a Settlement Date, the Company agrees that in addition to and in no way limiting the rights
and obligations set forth in Section&nbsp;10(a) hereto, it will (i)&nbsp;hold Capital One Securities harmless against any loss, liability, claim, damage, or expense whatsoever (including reasonable legal fees and expenses), as incurred, arising out
of or in connection with such default by the Company or its transfer agent and (ii)&nbsp;pay to Capital One Securities any commission, discount, or other compensation to which it would otherwise have been entitled absent such default. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <I>Denominations; Registration</I>. Certificates for the Securities shall be in such denominations and registered in such names as Capital
One Securities may request in writing at least one full business day before the Settlement Date. The Company shall deliver the Securities, if any, through the facilities of The Depository Trust Company unless Capital One Securities shall otherwise
instruct. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) <I>Limitations on Offering Size</I>. Under no circumstances shall the Company cause or request the offer or sale of any
Securities, if after giving effect to the sale of such Securities, the aggregate offering price of the Securities sold pursuant to this Agreement would exceed the lesser of (A)&nbsp;together with all sales of Securities under the Alternative Equity
Distribution Agreements, the Maximum Amount, (B)&nbsp;the amount available for offer and sale under the currently effective Registration Statement and (C)&nbsp;the amount authorized from time to time to be issued and sold under this Agreement and
the Alternative Equity Distribution Agreements by the Company (which authorized amount shall be notified to Capital One Securities in writing at any time upon Capital One Securities&#146; written request during the pendency of an active Placement
Notice). Under no circumstances shall the Company cause or request the offer or sale of any Securities pursuant to this Agreement and the Alternative Equity Distribution Agreements at a price lower than the minimum price authorized from time to time
by the Company (which minimum price shall be notified to Capital One Securities in writing at any time upon Capital One Securities&#146; written request during the pendency of an active Placement Notice). Further, under no circumstances shall the
aggregate offering price of Securities sold pursuant to this Agreement and the Alternative Equity Distribution Agreements, including any separate underwriting or similar agreement covering principal transactions described in Section&nbsp;1 of this
Agreement, exceed the Maximum Amount. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">17 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) <I><FONT STYLE="white-space:nowrap">Black-out</FONT> Limitations</I>. Notwithstanding any
other provision of this Agreement, the Company shall not offer or sell, or instruct Capital One Securities to offer or sell, any Securities through Capital One Securities as agent (and, by notice to Capital One Securities given by telephone
(confirmed promptly by telecopy or email), shall cancel any instructions for any such offer or sale of any Securities prior to the commencement of the periods referenced below), and Capital One Securities shall not be obligated to make any such
offer or sale of Securities, (i)&nbsp;during any period in which the Company is, or could be deemed to be, in possession of material <FONT STYLE="white-space:nowrap">non-public</FONT> information or (ii)&nbsp;except as provided in
Section&nbsp;6(f)(1) hereof, at any time from and including the date on which the Company issues a press release containing, or shall otherwise publicly announce, its earnings, revenues or other operating results for a fiscal period or periods
(each, an &#147;<U>Earnings Announcement</U>&#148;) through and including the time that is 24 hours after the time that the Company files a Quarterly Report on Form <FONT STYLE="white-space:nowrap">10-Q</FONT> or an Annual Report on Form <FONT
STYLE="white-space:nowrap">10-K</FONT> (a &#147;<U>Filing Time</U>&#148;) that includes consolidated financial statements as of and for the same fiscal period or periods, as the case may be, covered by such Earnings Announcement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) If the Company wishes to offer or sell Securities to Capital One Securities as agent at any time during the period from and
including an Earnings Announcement through and including the time that is 24 hours after the corresponding Filing Time, the Company shall first (i)&nbsp;prepare and deliver to Capital One Securities (with a copy to counsel to Capital One Securities)
a Current Report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> that includes substantially the same financial and related information (together with management&#146;s discussion and analysis thereof) that was included in such Earnings
Announcement (other than any earnings projections and similar forward-looking data and officers&#146; quotations) (each, an &#147;<U>Earnings <FONT STYLE="white-space:nowrap">8-K</FONT></U>&#148;), in form and substance reasonably satisfactory to
Capital One Securities, and, prior to its filing, obtain the written consent of Capital One Securities to such filing (which consent shall not be unreasonably withheld or delayed), (ii) provide Capital One Securities with the officers&#146;
certificate, opinions and letters of counsel and accountants&#146; letter specified in Section&nbsp;7(o), (p) and (q), respectively, hereof, (iii)&nbsp;afford Capital One Securities the opportunity to conduct a due diligence review in accordance
with Section&nbsp;7(m) hereof prior to filing such Earnings <FONT STYLE="white-space:nowrap">8-K</FONT> and (iv)&nbsp;file such Earnings <FONT STYLE="white-space:nowrap">8-K</FONT> with the Commission, then the provision of clause (ii)&nbsp;of
Section&nbsp;6(f) shall not be applicable for the period from and after the time at which the foregoing conditions shall have been satisfied (or, if later, the time that is 24 hours after the time that the relevant Earnings Announcement was first
publicly released) through and including the time that is 24 hours after the Filing Time of the relevant Quarterly Report on Form <FONT STYLE="white-space:nowrap">10-Q</FONT> or Annual Report on Form <FONT STYLE="white-space:nowrap">10-K,</FONT> as
the case may be. For purposes of clarity, the parties hereto agree that (A)&nbsp;the delivery of any officers&#146; certificate, opinion or letter of counsel or accountants&#146; letter pursuant to this Section&nbsp;6(f) shall not relieve the
Company from any of its obligations under this Agreement with respect to any Quarterly Report on Form <FONT STYLE="white-space:nowrap">10-Q</FONT> or Annual Report on Form <FONT STYLE="white-space:nowrap">10-K,</FONT> as the case may be, including,
without limitation, the obligation to deliver officers&#146; certificates, opinions and letters of counsel and accountants&#146; letters as provided in Section&nbsp;7(o), (p) and (q), respectively, hereof, and (B)&nbsp;this Section&nbsp;6(f) shall
in no way affect or limit the operation of clause (i)&nbsp;of Section&nbsp;6(f) hereof, which shall have independent application. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">18 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 7. <U>Covenants of the Company</U>. The Company covenants with Capital One Securities as
follows: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Registration Statement Amendments; Payment of Fees</I>. After the date of this Agreement and during any period in which a
Prospectus relating to any Placement Securities is required to be delivered by Capital One Securities under the Securities Act (including in circumstances where such requirement may be satisfied pursuant to Rule 172 under the Securities Act), (i)
the Company will notify Capital One Securities promptly of the time when any subsequent amendment to the Registration Statement, other than documents incorporated by reference, has been filed with the Commission and/or has become effective or any
subsequent supplement to the Prospectus has been filed and of any comment letter from the Commission or any request by the Commission for any amendment or supplement to the Registration Statement or Prospectus or for additional information;
(ii)&nbsp;the Company will prepare and file with the Commission, promptly upon Capital One Securities&#146; request, any amendments or supplements to the Registration Statement or Prospectus that, in Capital One Securities&#146; reasonable opinion,
may be necessary or advisable in connection with the distribution of the Placement Securities by Capital One Securities (<I>provided</I>, <I>however</I>, that the failure of Capital One Securities to make such request shall not relieve the Company
of any obligation or liability hereunder, or affect Capital One Securities&#146; right to rely on the representations and warranties made by the Company in this Agreement); (iii) the Company will not file any amendment or supplement to the
Registration Statement or Prospectus, other than documents incorporated by reference, relating to the Placement Securities or a security convertible into the Placement Securities unless a copy thereof has been submitted to Capital One Securities
within a reasonable period of time before the filing and Capital One Securities has not reasonably objected thereto (<I>provided</I>, <I>however</I>, that the failure of Capital One Securities to make such objection shall not relieve the Company of
any obligation or liability hereunder, or affect Capital One Securities&#146; right to rely on the representations and warranties made by the Company in this Agreement) and the Company will furnish to Capital One Securities at the time of filing
thereof a copy of any document that upon filing is deemed to be incorporated by reference into the Registration Statement or Prospectus, except for those documents available via EDGAR; and (iv)&nbsp;the Company will cause each amendment or
supplement to the Prospectus, other than documents incorporated by reference, to be filed with the Commission as required pursuant to the applicable paragraph of Rule 424(b) of the Securities Act (without reliance on Rule 424(b)(8) of the Securities
Act). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <I>Notice of Commission Stop Orders</I>. The Company will advise Capital One Securities, promptly after it receives notice or
obtains knowledge thereof, of the issuance or threatened issuance by the Commission of any stop order suspending the effectiveness of the Registration Statement or of any other order preventing or suspending the use of the Prospectus or any Issuer
Free Writing Prospectus, or of the suspension of the qualification of the Placement Securities for offering or sale in any jurisdiction or of the loss or suspension of any exemption from any such qualification, or of the initiation or threatening of
any proceedings for any of such purposes, or of any examination pursuant to Section&nbsp;8(e) of the Securities Act concerning the Registration Statement or if the Company becomes the subject of a proceeding under Section&nbsp;8A of the Securities
Act in connection with the offering of the Securities. The Company will make every reasonable effort to prevent the issuance of any stop order, the suspension of any qualification of the Securities for offering or sale and any loss or suspension of
any exemption from any such qualification, and if any such stop order is issued or any such suspension or loss occurs, to obtain the lifting thereof at the earliest possible moment. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">19 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <I>Delivery of Registration Statement and Prospectus</I>. The Company will furnish to Capital
One Securities and its counsel (at the expense of the Company) copies of the Registration Statement, the Prospectus (including all documents incorporated by reference therein) and all amendments and supplements to the Registration Statement or
Prospectus, and any Issuer Free Writing Prospectuses, that are filed with the Commission during any period in which a Prospectus relating to the Placement Securities is required to be delivered under the Securities Act (including all documents filed
with the Commission during such period that are deemed to be incorporated by reference therein), in each case as soon as reasonably practicable and in such quantities and at such locations as Capital One Securities may from time to time reasonably
request. The copies of the Registration Statement and the Prospectus and any supplements or amendments thereto furnished to Capital One Securities will be identical to the electronically transmitted copies thereof filed with the Commission pursuant
to EDGAR, except to the extent permitted by Regulation <FONT STYLE="white-space:nowrap">S-T.</FONT> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <I>Continued Compliance with
Securities Laws</I>. If at any time when a Prospectus is required by the Securities Act or the Exchange Act to be delivered in connection with a pending sale of the Placement Securities (including, without limitation, pursuant to Rule 172), any
event shall occur or condition shall exist as a result of which it is necessary, in the opinion of counsel for Capital One Securities or for the Company, to amend the Registration Statement or amend or supplement the Prospectus in order that the
Prospectus will not include any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein not misleading in the light of the circumstances existing at the time it is delivered to a
purchaser, or if it shall be necessary, in the opinion of such counsel, at any such time to amend the Registration Statement or amend or supplement the Prospectus in order to comply with the requirements of the Securities Act, the Company will
promptly notify Capital One Securities to suspend the offering of Placement Securities during such period and the Company will promptly prepare and file with the Commission such amendment or supplement as may be necessary to correct such statement
or omission or to make the Registration Statement or the Prospectus comply with such requirements, and the Company will furnish to Capital One Securities such number of copies of such amendment or supplement as Capital One Securities may reasonably
request. If at any time following issuance of an Issuer Free Writing Prospectus there occurred or occurs an event or development as a result of which such Issuer Free Writing Prospectus conflicted, conflicts or would conflict with the information
contained in the Registration Statement or the Prospectus or included, includes or would include an untrue statement of a material fact or omitted, omits or would omit to state a material fact necessary in order to make the statements therein, in
the light of the circumstances, prevailing at that subsequent time, not misleading, the Company will promptly notify Capital One Securities to suspend the offering of Placement Securities during such period and the Company will, subject to
Section&nbsp;7(a) hereof, promptly amend or supplement such Issuer Free Writing Prospectus to eliminate or correct such conflict, untrue statement or omission. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) <I>Blue Sky and Other Qualifications</I>. The Company will use its best efforts, in cooperation with Capital One Securities, to qualify
the Placement Securities for offering and sale, or to obtain an exemption for the Securities to be offered and sold, under the applicable </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">20 </P>


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securities laws of such states and other jurisdictions (domestic or foreign) as Capital One Securities may designate and to maintain such qualifications and exemptions in effect for so long as
required for the distribution of the Securities (but in no event for less than one year from the date of this Agreement); <I>provided</I>, <I>however</I>, that the Company shall not be obligated to file any general consent to service of process or
to qualify as a foreign corporation or as a dealer in securities in any jurisdiction in which it is not so qualified or to subject itself to taxation in respect of doing business in any jurisdiction in which it is not otherwise so subject. In each
jurisdiction in which the Placement Securities have been so qualified or exempt, the Company will file such statements and reports as may be required by the laws of such jurisdiction to continue such qualification or exemption, as the case may be,
in effect for so long as required for the distribution of the Placement Securities (but in no event for less than one year from the date of this Agreement). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) <I>Rule 158</I>. The Company will timely file such reports pursuant to the Exchange Act as are necessary in order to make generally
available to its securityholders as soon as reasonably practicable an earnings statement for the purposes of, and to provide to Capital One Securities the benefits contemplated by, the last paragraph of Section&nbsp;11(a) of the Securities Act. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) <I>Use of Proceeds</I>. The Company will use the net proceeds received by it from the sale of the Securities in the manner specified in
the Prospectus under &#147;Use of Proceeds.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) <I>Listing</I>. During any period in which the Prospectus relating to the Placement
Securities is required to be delivered by Capital One Securities under the Securities Act with respect to a pending sale of the Placement Securities (including in circumstances where such requirement may be satisfied pursuant to Rule 172 under the
Securities Act), the Company will use its commercially reasonable efforts to cause the Placement Securities to be listed on the NYSE. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i)
<I>Filings with the NYSE</I>. The Company will timely file with the NYSE all material documents and notices required by the NYSE of companies that have or will issue securities that are traded on the NYSE. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) <I>Reporting Requirements</I>. The Company, during any period when the Prospectus is required to be delivered under the Securities Act and
the Exchange Act (including in circumstances where such requirement may be satisfied pursuant to Rule 172 under the Securities Act), will file all documents required to be filed with the Commission pursuant to the Exchange Act within the time
periods required by the Exchange Act. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k) <I>Notice of Other Sales</I>. During the pendency of any Placement Notice delivered hereunder
(as amended by the corresponding Acceptance, if applicable), the Company will not, without giving Capital One Securities at least one (1)&nbsp;business day prior written notice specifying the nature of the proposed sale and the date of such proposed
sale , (A) offer, pledge, announce the intention to sell, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant for the sale of, lend or otherwise transfer or
dispose of, directly or indirectly, any Common Stock or securities convertible into or exchangeable or exercisable for or repayable with Common Stock, or file any registration statement under the 1933 Act with respect to any of the foregoing (other
than a shelf registration </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">21 </P>


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statement under Rule 415 under the 1933 Act, a registration statement on Form <FONT STYLE="white-space:nowrap">S-8</FONT> or post-effective amendment to the Registration Statement) or
(B)&nbsp;enter into any swap or other agreement or any transaction that transfers in whole or in part, directly or indirectly, any of the economic consequence of ownership of the Common Stock, or any securities convertible into or exchangeable or
exercisable for or repayable with Common Stock, whether any such swap or transaction described in clause (A)&nbsp;or (B) above is to be settled by delivery of Common Stock or such other securities, in cash or otherwise. The foregoing sentence shall
not apply to (i)&nbsp;the Common Stock to be offered and sold through Capital One Securities and the Alternative Placement Agents pursuant to this Agreement and the Alternative Equity Distribution Agreements, (ii)&nbsp;any shares of Common Stock
issued by the Company upon the exercise of an option or warrant or the conversion, redemption or exchange of a security outstanding at the time such Placement Notice is delivered, including Common Stock issuable upon exchange of operating
partnership units of any operating partnership subsidiary of the Company (&#147;OP Units&#148;), (iii) any issuances of OP Units, (iv)&nbsp;Common Stock issuable pursuant to the Company&#146;s direct dividend reinvestment plan as it may be amended
or replaced from time to time, and (v)&nbsp;equity incentive awards approved by the Board or the compensation committee thereof or the issuance of Common Stock upon exercise thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(l) <I>Change of Circumstances</I>. The Company will, at any time during a fiscal quarter in which the Company intends to tender a Placement
Notice or sell Placement Securities, advise Capital One Securities promptly after it shall have received notice or obtained knowledge thereof, of any information or fact that would alter or affect in any material respect any opinion, certificate,
letter or other document provided to Capital One Securities pursuant to this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(m) <I>Due Diligence Cooperation</I>. The Company
will cooperate with any reasonable due diligence review conducted by Capital One Securities or its agents in connection with the transactions contemplated hereby, including, without limitation, providing information and making available documents
and senior officers, during regular business hours and at the Company&#146;s principal offices, as Capital One Securities may reasonably request. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(n) <I>Representation Dates; Certificate</I>. On or prior to the date that the first Securities are sold pursuant to the terms of this
Agreement and: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) each time the Company: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) files the Prospectus relating to the Placement Securities or amends or supplements the Registration Statement or the
Prospectus relating to the Placement Securities by means of a post-effective amendment, sticker, or supplement but not by means of incorporation of documents by reference into the Registration Statement or the Prospectus relating to the Placement
Securities; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) files an annual report on Form <FONT STYLE="white-space:nowrap">10-K</FONT> under the Exchange Act; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) files a quarterly report on Form <FONT STYLE="white-space:nowrap">10-Q</FONT> under the Exchange Act; or </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">22 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) files a report on Form <FONT STYLE="white-space:nowrap">8-K</FONT>
containing amended financial information (other than an earnings release, to &#147;furnish&#148; information pursuant to Items 2.02 or 7.01 of Form <FONT STYLE="white-space:nowrap">8-K)</FONT> under the Exchange Act; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) at any other time reasonably requested by Capital One Securities (each such date of filing of one or more of the documents
referred to in clauses (1)(i) through (iv)&nbsp;and any time of request pursuant to this Section&nbsp;7(n) shall be a &#147;<U>Representation Date</U>&#148;), </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">the Company shall furnish Capital One Securities with a certificate, in the form attached hereto as <U>Exhibit F</U> within two
(2)&nbsp;Trading Days of any Representation Date. Except as otherwise notified by Capital One Securities with respect to a Representation Date on which the Company files its Form <FONT STYLE="white-space:nowrap">10-K,</FONT> the requirement to
provide a certificate under this Section&nbsp;7(n) shall be waived for any Representation Date occurring at a time at which no Placement Notice (as amended by the corresponding Acceptance, if applicable) is pending, which waiver shall continue until
the earlier to occur of the date the Company delivers a Placement Notice hereunder (which for such calendar quarter shall be considered a Representation Date) and the next occurring Representation Date. Notwithstanding the foregoing, if the Company
subsequently decides to sell Placement Securities following a Representation Date when the Company relied on such waiver and did not provide Capital One Securities with a certificate under this Section&nbsp;7(n), then before the Company delivers the
Placement Notice or Capital One Securities sells any Placement Securities, the Company shall provide Capital One Securities with a certificate, in the form attached hereto as <U>Exhibit F</U>, dated the date of the Placement Notice. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(o) <I>Legal Opinions.</I> On or prior to the date that the first Securities are sold pursuant to the terms of this Agreement, within two
(2)&nbsp;Trading Days of each Representation Date with respect to which the Company is obligated to deliver a certificate in the form attached hereto as <U>Exhibit F</U> for which no waiver is applicable, the Company shall cause to be furnished to
Capital One Securities written opinions of Hogan Lovells US LLP (&#147;<U>Company Counsel</U>&#148;), or other counsel satisfactory to Capital One Securities, in form and substance satisfactory to Capital One Securities and its counsel, dated the
date that the opinions are required to be delivered, substantially similar to the forms attached hereto as <U>Exhibit E</U>, modified, as necessary, to relate to the Registration Statement and the Prospectus as then amended or supplemented;
<I>provided</I>, <I>however</I>, that in lieu of such opinions for subsequent Representation Dates, counsel may furnish Capital One Securities with a letter (a &#147;<U>Reliance Letter</U>&#148;) to the effect that Capital One Securities may rely on
a prior opinion delivered under this Section&nbsp;7(o) to the same extent as if it were dated the date of such letter (except that statements in such prior opinion shall be deemed to relate to the Registration Statement and the Prospectus as amended
or supplemented at such Representation Date). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(p) <I>Comfort Letter</I>. On or prior to the date that the first Securities are sold
pursuant to the terms of this Agreement, within two (2)&nbsp;Trading Days of each Representation Date with respect to which the Company is obligated to deliver a certificate substantially in the form attached hereto as <U>Exhibit F</U> for which no
waiver is applicable, the Company shall cause its independent accountants (and any other independent accountants whose report is included in the Registration Statement or the Prospectus) to furnish Capital One Securities letters (the
&#147;<U>Comfort Letters</U>&#148;), dated the date of the Comfort Letter is delivered, in form and substance satisfactory to </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">23 </P>


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Capital One Securities, (i)&nbsp;confirming that they are an independent registered public accounting firm within the meaning of the Securities Act, the Exchange Act and the PCAOB,
(ii)&nbsp;stating, as of such date, the conclusions and findings of such firm with respect to the financial information and other matters ordinarily covered by accountants&#146; &#147;comfort letters&#148; to underwriters in connection with
registered public offerings (the first such letter, the &#147;<U>Initial Comfort Letter</U>&#148;) and (iii)&nbsp;updating the Initial Comfort Letter with any information that would have been included in the Initial Comfort Letter had it been given
on such date and modified as necessary to relate to the Registration Statement and the Prospectus, as amended and supplemented to the date of such letter. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(q) <I>Market Activities</I>. The Company will not, directly or indirectly, (i)&nbsp;take any action designed to cause or result in, or that
constitutes or might reasonably be expected to constitute, the stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Securities or (ii)&nbsp;sell, bid for, or purchase the Securities to be
issued and sold pursuant to this Agreement, or pay anyone any compensation for soliciting purchases of the Securities to be issued and sold pursuant to this Agreement other than Capital One Securities; <I>provided</I>, <I>however</I>, that the
Company may bid for and purchase its Common Stock in accordance with Rule <FONT STYLE="white-space:nowrap">10b-18</FONT> under the Exchange Act; and provided further, that no such bids or purchases shall be made by the Company during the two
(2)&nbsp;Trading Days before or after any sale of any Securities pursuant to this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(r) <I>Insurance</I>. The Company and its
subsidiaries shall maintain, or caused to be maintained, insurance in such amounts and covering such risks as is reasonable and customary for companies engaged in similar businesses in similar industries, except where the failure to maintain such
insurance would not have a Material Adverse Effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(s) <I>Compliance with Laws</I>. The Company and each of its subsidiaries shall
maintain, or cause to be maintained, all material environmental permits, licenses and other authorizations required by federal, state and local law in order to conduct their businesses as described in the Prospectus, and the Company and each of its
subsidiaries shall conduct their businesses, or cause their businesses to be conducted, in substantial compliance with such permits, licenses and authorizations and with applicable environmental laws, except where the failure to maintain or be in
compliance with such permits, licenses and authorizations could not reasonably be expected to have a Material Adverse Effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(t)
<I>Investment Company Act</I>. The Company will conduct its affairs in such a manner so as to reasonably ensure that neither it nor its subsidiaries will be or become, at any time prior to the termination of this Agreement, an &#147;investment
company,&#148; as such term is defined in the Investment Company Act, assuming no change in the Commission&#146;s current interpretation as to entities that are not considered an investment company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(u) <I>Securities Act and Exchange Act</I>. The Company will use its best efforts to comply with all requirements imposed upon it by the
Securities Act and the Exchange Act as from time to time in force, so far as necessary to permit the continuance of sales of, or dealings in, the Placement Securities as contemplated by the provisions hereof and the Prospectus. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">24 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) <I>No Offer to Sell</I>. Other than a free writing prospectus (as defined in Rule 405 under
the Securities Act) approved in advance in writing by the Company and the Agents in their respective capacities as a principal or agent hereunder or under the Alternative Equity Distribution Agreements, the Company (including its agents and
representatives, other than the Agents in their respective capacities as such) will not, directly or indirectly, make, use, prepare, authorize, approve or refer to any free writing prospectus relating to the Securities to be sold by the Agents as
principal or agent hereunder or under an Alternative Equity Distribution Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(w) <I>Sarbanes-Oxley Act</I>. The Company and its
subsidiaries will use their best efforts to comply with all effective applicable provisions of the Sarbanes-Oxley Act of 2002. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(x)
<I>Regulation M</I>. If the Company has reason to believe that the exemptive provisions set forth in Rule 101(c)(1) of Regulation M under the Exchange Act are not satisfied with respect to the Company or the Common Stock, it shall promptly notify
Capital One Securities and sales of the Placement Securities under this Agreement shall be suspended until that or other exemptive provisions have been satisfied in the judgment of each party. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(y) <I>REIT Treatment</I>. The Company currently intends to continue to elect to qualify as a REIT under the Code and will use its best
efforts to enable the Company to continue to meet the requirements for qualification and taxation as a REIT under the Code for subsequent tax years that include any portion of the term of this Agreement; unless the Company&#146;s Board in good faith
determines by resolution that it is in the best interests of the Company&#146;s stockholders not to meet such requirements. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 8.
<U>Payment of Expenses</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Expenses</I>. The Company will pay all expenses incident to the performance of its obligations under
this Agreement, including (i)&nbsp;the preparation, printing and filing of the Registration Statement (including financial statements and exhibits) as originally filed and of each amendment and supplement thereto, (ii)&nbsp;the word processing,
printing and delivery to Capital One Securities of this Agreement and such other documents as may be required in connection with the offering, purchase, sale, issuance or delivery of the Placement Securities, (iii)&nbsp;the preparation, issuance and
delivery of the certificates for the Placement Securities to Capital One Securities, including any stock or other transfer taxes and any capital duties, stamp duties or other duties or taxes payable upon the sale, issuance or delivery of the
Placement Securities to Capital One Securities, (iv)&nbsp;the fees and disbursements of the counsel, accountants and other advisors to the Company, (v)&nbsp;the qualification or exemption of the Placement Securities under securities laws in
accordance with the provisions of Section&nbsp;7(e) hereof, including filing fees and the reasonable fees and disbursements of counsel for Capital One Securities in connection therewith and in connection with the preparation of the Blue Sky Survey
and any supplements thereto (not to exceed $10,000), (vi) the printing and delivery to Capital One Securities of copies of any permitted Free Writing Prospectus and the Prospectus and any amendments or supplements thereto and any costs associated
with electronic delivery of any of the foregoing by Capital One Securities to investors, (vii)&nbsp;the preparation, printing and delivery to Capital One Securities of copies of the Blue Sky Survey and any Canadian &#147;wrapper&#148; and any
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">25 </P>


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supplements thereto, (viii)&nbsp;the fees and expenses of the custodian and the transfer agent and registrar for the Securities, (ix)&nbsp;the filing fees incident to, and the reasonable fees and
disbursements of counsel to Capital One Securities in connection with, any review by FINRA of the terms of the sale of the Securities, (x)&nbsp;the fees and expenses incurred in connection with the listing of the Placement Securities on the NYSE,
and (xi)&nbsp;if Securities having an aggregate offering price of $25,000,000 or more have not been offered and sold under this Agreement and the Alternative Equity Distribution Agreements by the eighteen month anniversary of the date of this
Agreement (or such earlier date at which the Company terminates this Agreement) (the &#147;<U>Determination Date</U>&#148;), the Company shall reimburse Capital One Securities and the Alternative Placement Agents for all of their reasonable <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">out-of-pocket</FONT></FONT> expenses, including the reasonable fees and disbursements of counsel for Capital One Securities and the Alternative Placement Agents incurred by Capital One
Securities and the Alternative Placement Agents in connection with the transactions contemplated by this Agreement (the &#147;<U>Expenses</U>&#148;); provided that the Company shall not be obligated to reimburse any such Expenses pursuant to this
Agreement and pursuant to the Alternative Equity Distribution Agreements in excess of $150,000 in the aggregate (and such $150,000 limit shall be reduced pro rata for any portion of such $25,000,000 of Securities actually sold pursuant to this
Agreement and the Alternative Distribution Agreements during such eighteen-month period (i.e., if, for example $6,250,000 of Securities are sold, such limit shall be $112,500; if, for example, $12,500,000 of Securities are sold, such limit shall be
$75,000; and if, for example, $18,750,000 of Securities are sold, such limit shall be $37,500)). The Expenses shall be due and payable by the Company to Capital One Securities and the Alternative Placement Agents within five (5)&nbsp;business days
of the Determination Date. The Agents shall be solely responsible for allocating any reimbursement pursuant to this subsection among themselves. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <I>Termination of Agreement</I>. If this Agreement is terminated by Capital One Securities in accordance with the provisions of
Section&nbsp;9(m) or Section&nbsp;13(a)(i) hereof, the Company shall reimburse Capital One Securities for all of their out of pocket expenses, including the reasonable fees and disbursements of counsel for Capital One Securities, unless Securities
having an aggregate offering price of $25,000,000 or more have previously been offered and sold under this Agreement and/or the Alternative Distribution Agreements. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 9. <U>Conditions of Capital One Securities</U><U>&#146;</U><U> Obligations</U>. The obligations of Capital One Securities hereunder
with respect to a Placement will be subject to the continuing accuracy and completeness of the representations and warranties of the Company contained in this Agreement and in certificates of any officer of the Company or any subsidiary of the
Company delivered pursuant to the provisions hereof, to the performance by the Company of its covenants and other obligations hereunder, and to the following further conditions: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Effectiveness of Registration Statement</I>. The Registration Statement and any Rule 462(b) Registration Statement shall have become
effective and shall be available for (i)&nbsp;all sales of Placement Securities issued pursuant to all prior Placement Notices (each as amended by a corresponding Acceptance, if applicable) and (ii)&nbsp;the sale of all Placement Securities
contemplated to be issued by any Placement Notice (each as amended by a corresponding Acceptance, if applicable). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">26 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <I>No Material Notices</I>. None of the following events shall have occurred and be
continuing: (i)&nbsp;receipt by the Company or any of its subsidiaries of any request for additional information from the Commission or any other federal or state governmental authority during the period of effectiveness of the Registration
Statement, the response to which would require any post-effective amendments or supplements to the Registration Statement or the Prospectus; (ii)&nbsp;the issuance by the Commission or any other federal or state governmental authority of any stop
order suspending the effectiveness of the Registration Statement or the initiation of any proceedings for that purpose; (iii)&nbsp;receipt by the Company of any notification with respect to the suspension of the qualification or exemption from
qualification of any of the Placement Securities for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; or (iv)&nbsp;the occurrence of any event that makes any material statement made in the Registration
Statement or the Prospectus, or any Issuer Free Writing Prospectus, or any material document incorporated or deemed to be incorporated therein by reference untrue in any material respect or that requires the making of any changes in the Registration
Statement, related Prospectus, or any Issuer Free Writing Prospectus, or such documents so that, in the case of the Registration Statement, it will not contain any materially untrue statement of a material fact or omit to state any material fact
required to be stated therein or necessary to make the statements therein not misleading and, that in the case of the Prospectus and any Issuer Free Writing Prospectus, it will not contain any materially untrue statement of a material fact or omit
to state any material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <I>No Material Misstatement or Omission</I>. Capital One Securities shall not have advised the Company that the Registration Statement or
Prospectus, or any Issuer Free Writing Prospectus, or any amendment or supplement thereto, contains an untrue statement of fact that in Capital One Securities&#146; reasonable opinion is material, or omits to state a fact that in Capital One
Securities&#146; opinion is material and is required to be stated therein or is necessary to make the statements therein not misleading. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <I>Material Changes</I>. Except as contemplated in the Prospectus, or disclosed in the Company&#146;s reports filed with the Commission,
there shall not have been any material adverse change in the condition, financial or otherwise, or in the results of operations, business affairs or business prospects of the Company and its subsidiaries considered as one enterprise, whether or not
arising in the ordinary course of business. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) <I>Opinions of Counsel for Company</I>. Capital One Securities shall have received the
favorable opinions of Company Counsel, required to be delivered pursuant to Section&nbsp;7(o) on or before the date on which such delivery of such opinions is required pursuant to Section&nbsp;7(o). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) <I>Representation Certificate</I>. Capital One Securities shall have received the certificate required to be delivered pursuant to
Section&nbsp;7(n) on or before the date on which delivery of such certificate is required pursuant to Section&nbsp;7(n). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g)
<I>Accountant&#146;s Comfort Letter</I>. Capital One Securities shall have received the Comfort Letter required to be delivered pursuant Section&nbsp;7(p) on or before the date on which such delivery of such opinion is required pursuant to
Section&nbsp;7(p). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">27 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) <I>Opinion of Counsel for Capital One Securities</I>. On or prior to the date that the first
Securities are sold pursuant to the terms of this Agreement, within two (2)&nbsp;Trading Days of each Representation Date with respect to which the Company is obligated to deliver a certificate in the form attached hereto as <U>Exhibit F</U> for
which no waiver is applicable, Capital One Securities shall have received the favorable written opinion or opinions of Goodwin Procter LLP, counsel for Capital One Securities, dated such date, with respect to such matters as Capital One Securities
may reasonably request. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) <I>Approval for Listing</I>. The Placement Securities shall either have been (i)&nbsp;approved for listing on
NYSE, subject only to notice of issuance, or (ii)&nbsp;the Company shall have filed an application for listing of the Placement Securities on NYSE at, or prior to, the issuance of any Placement Notice. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) <I>No Suspension</I>. Trading in the Securities shall not have been suspended on the NYSE. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k) <I>Additional Documents</I>. On each date on which the Company is required to deliver a certificate pursuant to Section&nbsp;7(n), counsel
for Capital One Securities shall have been furnished with such documents and opinions as they may reasonably require for the purpose of enabling them to pass upon the issuance and sale of the Securities as herein contemplated, or in order to
evidence the accuracy of any of the representations or warranties, or the fulfillment of any of the conditions, contained in this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(l) <I>Securities Act Filings Made</I>. All filings with the Commission required by Rule 424 under the Securities Act to have been filed prior
to the issuance of any Placement Notice hereunder shall have been made within the applicable time period prescribed for such filing by Rule 424. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(m) <I>Termination of Agreement</I>. If any condition specified in this Section&nbsp;9 shall not have been fulfilled when and as required to
be fulfilled, this Agreement may be terminated by Capital One Securities by notice to the Company, and such termination shall be without liability of any party to any other party except as provided in Section&nbsp;8 hereof and except that, in the
case of any termination of this Agreement, Sections&nbsp;5, 10, 11, 12 and 22 hereof shall survive such termination and remain in full force and effect. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 10. <U>Indemnification</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Indemnification by the Company</I>. The Company agrees to indemnify and hold harmless Capital One Securities, its affiliates (as such
term is defined in Rule 501(b) of the Securities Act), and each person, if any, who controls Capital One Securities within the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) against any and all loss, liability, claim, damage and expense whatsoever, as incurred, arising out of any untrue statement
or alleged untrue statement of a material fact contained in the Registration Statement (or any amendment thereto), including any information deemed to be a part thereof pursuant to Rule 430B, or the omission or alleged omission therefrom of a
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">28 </P>


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material fact required to be stated therein or necessary to make the statements therein not misleading, or arising out of any untrue statement or alleged untrue statement of a material fact
included (A)&nbsp;in any Issuer Free Writing Prospectus or the Prospectus (or any amendment or supplement thereto) or (B)&nbsp;in any materials or information provided to investors by, or with the approval of, the Company in connection with the
marketing of any offering of Securities (&#147;<U>Marketing Materials&#148;)</U>, including any roadshow or investor presentations made to investors by the Company (whether in person or electronically), or the omission or alleged omission therefrom
of a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) against any and all loss, liability, claim, damage and expense whatsoever, as incurred, to the extent of the aggregate
amount paid in settlement of any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or of any claim whatsoever based upon any such untrue statement or omission, or any such alleged untrue
statement or omission; provided that (subject to Section&nbsp;10(d) below) any such settlement is effected with the written consent of the Company; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) against any and all expense whatsoever, as incurred (including the fees and disbursements of counsel chosen by Capital
One Securities), reasonably incurred in investigating, preparing or defending against any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or any claim whatsoever based upon any such untrue
statement or omission, or any such alleged untrue statement or omission, to the extent that any such expense is not paid under (i)&nbsp;or (ii) above, </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>provided</I>, <I>however</I>, that this indemnity agreement shall not apply to any loss, liability, claim, damage or expense to the extent arising out of
any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with information furnished to the Company in writing by Capital One Securities expressly for use therein, it being understood and agreed
that the only such information furnished by Capital One Securities as of the date hereof consists of the Agent Information. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b)
<I>Indemnification by Capital One Securities</I>. Capital One Securities agrees to indemnify and hold harmless the Company, its trustees, each of its officers who signed the Registration Statement, and each person, if any, who controls the Company
within the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act against any and all loss, liability, claim, damage and expense described in the indemnity contained in subsection (a)&nbsp;of this Section&nbsp;10, as
incurred, but only with respect to untrue statements or omissions, or alleged untrue statements or omissions, made in the Registration Statement (or any amendment thereto), any Issuer Free Writing Prospectus or the Prospectus (or any amendment or
supplement thereto) in reliance upon and in conformity with information furnished to the Company in writing by Capital One Securities expressly for use therein, it being understood and agreed that the only such information furnished by Capital One
Securities as of the date hereof consists of the Agent Information. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">29 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <I>Actions against Parties; Notification</I>. Each indemnified party shall give notice as
promptly as reasonably practicable to each indemnifying party of any action commenced against it in respect of which indemnity may be sought hereunder, but failure to so notify an indemnifying party shall not relieve such indemnifying party from any
liability hereunder to the extent it is not materially prejudiced as a result thereof and in any event shall not relieve it from any liability which it may have otherwise than on account of this indemnity agreement. Counsel to the indemnified
parties shall be selected as follows: counsel to Capital One Securities and each person, if any, who controls Capital One Securities within the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act shall be selected
by Capital One Securities; and counsel to the Company, its trustees, each of its officers who signed the Registration Statement and each person, if any, who controls the Company within the meaning of Section&nbsp;15 of the Securities Act or
Section&nbsp;20 of the Exchange Act shall be selected by the Company. An indemnifying party may participate at its own expense in the defense of any such action; <I>provided</I>, <I>however</I>, that counsel to the indemnifying party shall not
(except with the consent of the indemnified party) also be counsel to the indemnified party. In no event shall the indemnifying parties be liable for the fees and expenses of more than one counsel (in addition to any local counsel) separate from
their own counsel for Capital One Securities and each person, if any, who controls Capital One Securities within the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act, and the fees and expenses of more than one
counsel (in addition to any local counsel) separate from their own counsel for the Company, its trustees, each of its officers who signed the Registration Statement and each person, if any, who controls the Company within the meaning of
Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act, in each case in connection with any one action or separate but similar or related actions in the same jurisdiction arising out of the same general allegations or
circumstances. No indemnifying party shall, without the prior written consent of the indemnified parties, settle or compromise or consent to the entry of any judgment with respect to any litigation, or any investigation or proceeding by any
governmental agency or body, commenced or threatened, or any claim whatsoever in respect of which indemnification or contribution could be sought under this Section&nbsp;10 or Section&nbsp;11 hereof (whether or not the indemnified parties are actual
or potential parties thereto), unless such settlement, compromise or consent (i)&nbsp;includes an unconditional release of each indemnified party from all liability arising out of such litigation, investigation, proceeding or claim and
(ii)&nbsp;does not include a statement as to or an admission of fault, culpability or a failure to act by or on behalf of any indemnified party. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <I>Settlement Without Consent if Failure to Reimburse</I>. If at any time an indemnified party shall have requested an indemnifying party
to reimburse the indemnified party for fees and expenses of counsel, such indemnifying party agrees that it shall be liable for any settlement of the nature contemplated by Section&nbsp;10(a)(ii) effected without its written consent if (i)&nbsp;such
settlement is entered into more than 45 days after receipt by such indemnifying party of the aforesaid request, (ii)&nbsp;such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement
being entered into and (iii)&nbsp;such indemnifying party shall not have reimbursed such indemnified party in accordance with such request prior to the date of such settlement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">30 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 11. <U>Contribution</U>. If the indemnification provided for in Section&nbsp;10 hereof is
for any reason unavailable to or insufficient to hold harmless an indemnified party in respect of any losses, liabilities, claims, damages or expenses referred to therein, then each indemnifying party shall contribute to the aggregate amount of such
losses, liabilities, claims, damages and expenses incurred by such indemnified party, as incurred, (i)&nbsp;in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and Capital One Securities on
the other hand from the offering of the Securities pursuant to this Agreement or (ii)&nbsp;if the allocation provided by clause (i)&nbsp;is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative
benefits referred to in clause (i)&nbsp;above but also the relative fault of the Company on the one hand and of Capital One Securities on the other hand in connection with the statements or omissions. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The relative benefits received by the Company on the one hand and Capital One Securities on the other hand in connection with the offering of
the Securities pursuant to this Agreement shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Securities pursuant to this Agreement (before deducting expenses) received by the Company and the
total commissions received by Capital One Securities, in each case as set forth on the cover of the Prospectus, bear to the aggregate public offering price of the Securities as set forth on such cover. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The relative fault of the Company on the one hand and Capital One Securities on the other hand shall be determined by reference to, among
other things, whether the untrue or the alleged untrue statement of a material fact or omission or alleged omission to state a material fact relates to information supplied by the Company or by Capital One Securities and the parties&#146; relative
intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company and Capital One
Securities agree that it would not be just and equitable if contribution pursuant to this Section&nbsp;11 were determined by pro rata allocation or by any other method of allocation which does not take account of the equitable considerations
referred to above in this Section&nbsp;11. The aggregate amount of losses, liabilities, claims, damages and expenses incurred by an indemnified party and referred to above in this Section&nbsp;11 shall be deemed to include any legal or other
expenses reasonably incurred by such indemnified party in investigating, preparing or defending against any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or any claim whatsoever based
upon any such untrue or alleged untrue statement or omission or alleged omission. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Notwithstanding the provisions of this Section&nbsp;11,
Capital One Securities shall not be required to contribute any amount in excess of the amount by which the total price at which the Securities underwritten by it and distributed to the public were offered to the public exceeds the amount of any
damages which Capital One Securities has otherwise been required to pay by reason of any such untrue or alleged untrue statement or omission or alleged omission. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">No person guilty of fraudulent misrepresentation (within the meaning of Section&nbsp;11(f) of the Securities Act) shall be entitled to
contribution from any person who was not guilty of such fraudulent misrepresentation. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">31 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">For purposes of this Section&nbsp;11, each person, if any, who controls Capital One Securities
within the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act shall have the same rights to contribution as Capital One Securities, and each trustee of the Company, each officer of the Company who signed the
Registration Statement, and each person, if any, who controls the Company within the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act shall have the same rights to contribution as the Company. The Alternative
Placement Agents&#146; respective obligations to contribute pursuant to this Section&nbsp;11 are several in proportion to the number of Securities placed or underwritten by it in the applicable offering.<U> </U> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 12. <U>Representations, Warranties and Agreements to Survive Delivery</U>. All representations, warranties and agreements contained in
this Agreement or in certificates of officers of the Company or any of its subsidiaries submitted pursuant hereto, shall remain operative and in full force and effect, regardless of any investigation made by or on behalf of Capital One Securities or
controlling person, or by or on behalf of the Company, and shall survive delivery of the Securities to Capital One Securities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION
13. <U>Termination of Agreement</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Termination; General</I>. Capital One Securities may terminate this Agreement, by notice to
the Company, as hereinafter specified at any time (i)&nbsp;if there has been, since the time of execution of this Agreement or since the date as of which information is given in the Prospectus, any material adverse change in the condition, financial
or otherwise, or in the results of operations, business affairs or business prospects of the Company and its subsidiaries considered as one enterprise, whether or not arising in the ordinary course of business, or (ii)&nbsp;if there has occurred any
material adverse change in the financial markets in the United States or the international financial markets, any outbreak of hostilities or escalation thereof or other calamity or crisis or any change or development involving a prospective change
in national or international political, financial or economic conditions, in each case the effect of which is such as to make it, in the judgment of Capital One Securities, impracticable or inadvisable to market the Securities or to enforce
contracts for the sale of the Securities, or (iii)&nbsp;if trading in the Placement Securities has been suspended or limited by the Commission or the NYSE, or if trading generally on the NYSE American, the NYSE or the Nasdaq Stock Market has been
suspended or limited, or minimum or maximum prices for trading have been fixed, or maximum ranges for prices have been required, by any of said exchanges or by order of the Commission, the FINRA or any other governmental authority, or a material
disruption has occurred in commercial banking or securities settlement or clearance services in the United States or in Europe, or (iv)&nbsp;if a banking moratorium has been declared by either Federal or New York authorities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <I>Termination by the Company</I>. The Company shall have the right, by giving three (3)&nbsp;days&#146; notice as hereinafter specified
to terminate this Agreement in their sole discretion at any time after the date of this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <I>Termination by Capital One
Securities</I>. Capital One Securities shall have the right, by giving three (3)&nbsp;days&#146; notice as hereinafter specified to terminate this Agreement in its sole discretion at any time after the date of this Agreement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">32 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <I>Automatic Termination</I>. Unless earlier terminated pursuant to this Section&nbsp;13,
this Agreement shall automatically terminate upon the issuance and sale of all of the Placement Securities through Capital One Securities and the Alternative Placement Agents on the terms and subject to the conditions set forth herein and in the
Alternative Equity Distribution Agreements with an aggregate sale price equal to the amount set forth in Section&nbsp;1 of this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) <I>Continued Force and Effect</I>. This Agreement shall remain in full force and effect unless terminated pursuant to Sections&nbsp;13(a),
(b), (c) or (d)&nbsp;above or otherwise by mutual agreement of the parties. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) <I>Effectiveness of Termination</I>. Any termination of
this Agreement shall be effective on the date specified in such notice of termination; <I>provided</I>, <I>however</I>, that such termination shall not be effective until the close of business on the date of receipt of such notice by Capital One
Securities or the Company, as the case may be. If such termination shall occur prior to the Settlement Date for any sale of Placement Securities, such Placement Securities shall settle in accordance with the provisions of this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) <I>Liabilities</I>. If this Agreement is terminated pursuant to this Section&nbsp;13, such termination shall be without liability of any
party to any other party except as provided in Section&nbsp;8 hereof, and except that, in the case of any termination of this Agreement, Section&nbsp;5, Section&nbsp;10, Section&nbsp;11, Section&nbsp;12, and Section&nbsp;22 hereof shall survive such
termination and remain in full force and effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 14. <U>Notices</U>. Except as otherwise provided in this Agreement, all notices
and other communications hereunder shall be in writing and shall be deemed to have been duly given if mailed or transmitted by any standard form of telecommunication. Notices to Capital One Securities shall be directed to Capital One Securities at
Capital One Securities, Inc., 201 St. Charles Avenue, Suite 1830, New Orleans, LA 70170, Attention: Jennifer Bosso; notices to the Company shall be directed to it at 1775 Eye Street NW, Suite 1000, Washington, D.C. 20006, fax no. (212) <FONT
STYLE="white-space:nowrap">379-3554,</FONT> Attention of Stephen E. Riffee, Chief Financial Officer, cc: Taryn D. Fielder, General Counsel. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 15. <U>Parties</U>. This Agreement shall inure to the benefit of and be binding upon Capital One Securities, the Company and their
respective successors. Nothing expressed or mentioned in this Agreement is intended or shall be construed to give any person, firm or corporation, other than Capital One Securities, the Company and their respective successors and the controlling
persons and officers and trustees referred to in Sections&nbsp;10 and 11 and their heirs and legal representatives, any legal or equitable right, remedy or claim under or in respect of this Agreement or any provision herein contained. This Agreement
and all conditions and provisions hereof are intended to be for the sole and exclusive benefit of Capital One Securities, the Company and their respective successors, and said controlling persons and officers and trustees and their heirs and legal
representatives, and for the benefit of no other person, firm or corporation. No purchaser of Securities from Capital One Securities shall be deemed to be a successor by reason merely of such purchase. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">33 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 16. <U>Adjustments for Stock Splits</U>. The parties acknowledge and agree that all
stock-related numbers contained in this Agreement shall be adjusted to take into account any stock split, stock dividend or similar event effected with respect to the Securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 17. <U>Governing Law; Time and Jurisdiction</U>. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE
STATE OF NEW YORK. <B></B>SPECIFIED TIMES OF DAY REFER TO NEW YORK CITY TIME. Any action, suit or proceeding to enforce any provision of, or based on any matter arising out of or in connection with, this Agreement or the transactions contemplated
hereby shall be brought in any federal court located in the Southern District of the State of New York or any New York state court located in the Borough of Manhattan, and the Company agrees to the exclusive jurisdiction of such courts (and of the
appropriate appellate courts therefrom) and each party waives (to the full extent permitted by law) any objection it may have to the laying of venue of any such suit, action or proceeding in any such court or that any such suit, action or proceeding
has been brought in an inconvenient forum. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 18. <U>Effect of Headings</U>. The Section and Exhibit headings herein are for
convenience only and shall not affect the construction hereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 19. <U>Counterparts</U>. This Agreement may be executed in two or
more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Delivery of an executed Agreement by one party to the other may be made by facsimile or <FONT
STYLE="white-space:nowrap">e-mail</FONT> transmission. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 20. <U>Definitions</U>. As used in this Agreement, the following terms
have the respective meanings set forth below: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Applicable Time</U>&#148; means the time of each sale of any Securities or any
securities pursuant to this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Commission</U>&#148; means the Securities and Exchange Commission. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>EDGAR</U>&#148; means the Commission&#146;s Electronic Data Gathering, Analysis and Retrieval system. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Exchange Act</U>&#148; means the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission
thereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>FINRA</U>&#148; means the Financial Industry Regulatory Authority, Inc. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>GAAP</U>&#148; means generally accepted accounting principles. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Investment Company Act</U>&#148; means the Investment Company Act of 1940, as amended. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">34 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Issuer Free Writing Prospectus</U>&#148; means any &#147;issuer free writing
prospectus,&#148; as defined in Rule 433, relating to the Securities that (i)&nbsp;is required to be filed with the Commission by the Company, (ii)&nbsp;is a &#147;road show&#148; that is a &#147;written communication&#148; within the meaning of
Rule 433(d)(8)(i) whether or not required to be filed with the Commission, or (iii)&nbsp;is exempt from filing pursuant to Rule 433(d)(5)(i) because it contains a description of the Securities or of the offering that does not reflect the final
terms, and all free writing prospectuses that are listed in <U>Exhibit G</U> hereto, in each case in the form furnished (electronically or otherwise) to Capital One Securities for use in connection with the offering of the Securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>NYSE</U>&#148; means the New York Stock Exchange. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Rule 163</U>,&#148; &#147;<U>Rule 164</U>,&#148; &#147;<U>Rule 172</U>,&#148; &#147;<U>Rule 405</U>,&#148; &#147;<U>Rule
415</U>,&#148; &#147;<U>Rule 424(b)</U>,&#148; &#147;<U>Rule 430B</U>,&#148; &#147;<U>Rule 433</U>&#148; and &#147;<U>Rule 462(b)</U>&#148; refer to such rules under the Securities Act. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Rule 462(b) Registration Statement</U>&#148; means a registration statement filed by the Company pursuant to Rule 462(b) for the
purpose of registering any of the Securities under the Securities Act, including the documents incorporated by reference therein and the Rule 430A Information. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Sarbanes-Oxley Act</U>&#148; means the Sarbanes-Oxley Act of 2002 and the rules and regulations promulgated thereunder or
implementing the provisions thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Securities Act</U>&#148; means the Securities Act of 1933, as amended, and the rules and
regulations of the Commission thereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">All references in this Agreement to financial statements and schedules and other information
that is &#147;contained,&#148; &#147;included&#148; or &#147;stated&#148; in the Registration Statement or the Prospectus (and all other references of like import) shall be deemed to mean and include all such financial statements and schedules and
other information that is incorporated by reference in the Registration Statement or the Prospectus, as the case may be. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">All references
in this Agreement to the Registration Statement, any Rule 462(b) Registration Statement, the Prospectus or any amendment or supplement to any of the foregoing shall be deemed to include the copy filed with the Commission pursuant to EDGAR; all
references in this Agreement to any Issuer Free Writing Prospectus (other than any Issuer Free Writing Prospectuses that, pursuant to Rule 433, are not required to be filed with the Commission) shall be deemed to include the copy thereof filed with
the Commission pursuant to EDGAR; and all references in this Agreement to &#147;supplements&#148; to the Prospectus shall include, without limitation, any supplements, &#147;wrappers&#148; or similar materials prepared in connection with any
offering, sale or private placement of any Placement Securities by Capital One Securities outside of the United States. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 21.
<U>Permitted Free Writing Prospectuses</U>. The Company represents, warrants and agrees that, unless it obtains the prior consent of Capital One Securities, and Capital One Securities represents, warrants and agrees that, unless it obtains the prior
consent of the Company, it has not made and will not make any offer relating to the Securities that would constitute an Issuer Free Writing Prospectus, or that would otherwise constitute a &#147;free writing
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">35 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
prospectus,&#148; as defined in Rule 405, required to be filed with the Commission. Any such free writing prospectus consented to by Capital One Securities or by the Company, as the case may be,
is hereinafter referred to as a &#147;Permitted Free Writing Prospectus.&#148; The Company represents and warrants that it has treated and agrees that it will treat each Permitted Free Writing Prospectus as an &#147;issuer free writing
prospectus,&#148; as defined in Rule 433, and has complied and will comply with the requirements of Rule 433 applicable to any Permitted Free Writing Prospectus, including timely filing with the Commission where required, legending and record
keeping. For the purposes of clarity, the parties hereto agree that all free writing prospectuses, if any, listed in <U>Exhibit G</U> hereto are Permitted Free Writing Prospectuses. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 22. <U>Absence of Fiduciary Relationship</U>. The Company acknowledges and agrees that: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Capital One Securities is acting solely as agent and/or principal in connection with the public offering of the Securities and in
connection with each transaction contemplated by this Agreement and the process leading to such transactions, and no fiduciary or advisory relationship between the Company or any of its respective affiliates, stockholders (or other equity holders),
creditors or employees or any other party, on the one hand, and Capital One Securities, on the other hand, has been or will be created in respect of any of the transactions contemplated by this Agreement, irrespective of whether or not Capital One
Securities has advised or is advising the Company on other matters, and Capital One Securities has no obligation to the Company with respect to the transactions contemplated by this Agreement except the obligations expressly set forth in this
Agreement; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) any public offering price of the Securities set forth in this Agreement was not established by Capital One Securities;
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) it is capable of evaluating and understanding, and understands and accepts, the terms, risks and conditions of the transactions
contemplated by this Agreement; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Capital One Securities has not provided any legal, accounting, regulatory or tax advice with respect
to the transactions contemplated by this Agreement and it has consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) it is aware that Capital One Securities and its respective affiliates are engaged in a broad range of transactions which may involve
interests that differ from those of the Company and Capital One Securities has no obligation to disclose such interests and transactions to the Company by virtue of any fiduciary, advisory or agency relationship or otherwise; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) it waives, to the fullest extent permitted by law, any claims it may have against Capital One Securities for breach of fiduciary duty or
alleged breach of fiduciary duty and agrees that Capital One Securities shall not have any liability (whether direct or indirect, in contract, tort or otherwise) to it in respect of such a fiduciary duty claim or to any person asserting a fiduciary
duty claim on its behalf or in right of it or the Company, employees or creditors of Company. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">36 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If the foregoing is in accordance with your understanding of our agreement, please sign and
return to the Company a counterpart hereof, whereupon this instrument, along with all counterparts, will become a binding agreement between Capital One Securities and the Company in accordance with its terms. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Very truly yours,</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">WASHINGTON REAL ESTATE INVESTMENT TRUST</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Stephen E. Riffee</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Name: Stephen E. Riffee</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Title: Executive Vice President and</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; font-size:10pt; font-family:Times New Roman">Chief Financial Officer</P></TD></TR>
</TABLE></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="5%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="93%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">CONFIRMED AND ACCEPTED, as of the date first above written:</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">CAPITAL ONE SECURITIES, INC.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Greg K. Steele</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Authorized Signatory</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">37 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT A </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>FORM OF PLACEMENT NOTICE </U></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="5%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="16%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="75%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">From:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">[</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">]</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Cc:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">[`</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">]</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">To:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">[</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">]</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Subject: Equity Distribution&#151;Placement Notice </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Gentlemen: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the terms and subject
to the conditions contained in the Equity Distribution Agreement between Washington Real Estate Investment Trust (the &#147;<U>Company</U>&#148;) and Capital One Securities, Inc. (&#147;<U>Capital One Securities</U>&#148;) dated May&nbsp;4, 2018
(the &#147;<U>Agreement</U>&#148;), I hereby request on behalf of the Company that Capital One Securities sell up to [&#149;] [or $[&#149;] in aggregate offering price of] Common Shares of Beneficial Interest, par value $0.01 per share (the
&#147;<U>Securities</U>&#148;), at a minimum market price of $[&#149;] per share. The Company shall pay Capital One Securities compensation equal to [&#149;]% of the gross proceeds from the sale of the Securities set forth in this Placement Notice.
</P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>[ADDITIONAL SALES PARAMETERS MAY BE ADDED, SUCH AS THE TIME PERIOD IN WHICH SALES ARE REQUESTED TO BE MADE, SPECIFIC DATES THE SHARES MAY NOT BE SOLD
ON, THE MANNER IN WHICH SALES ARE TO BE MADE BY CAPITAL ONE SECURITIES, AND/OR THE CAPACITY IN WHICH CAPITAL ONE SECURITIES MAY ACT IN SELLING SHARES (AS PRINCIPAL, AGENT, OR BOTH)] </B></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A-1 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT B </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>AUTHORIZED INDIVIDUALS FOR PLACEMENT NOTICES AND ACCEPTANCES </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Capital One Securities, Inc. </U></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Phil Winiecki </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email: <U>Phil.winiecki@capitalone.com</U> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Jennifer Bosso </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email: <U>Jennifer.bosso@capitalone.com </U> </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Washington
Real Estate Investment Trust </U></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Stephen E. Riffee </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email: <U>sriffee@washreit.com</U> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Paul T. McDermott </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email: <U>pmcdermott@washreit.com</U> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Taryn D. Fielder </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email: <U>tfielder@washreit.com</U> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">B-1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT C </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>COMPENSATION </U></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Capital One
Securities shall be paid compensation equal to up to 2.0% of the gross proceeds from the sales of Securities pursuant to the terms of this Agreement. The actual compensation paid to Capital One Securities shall be set forth in the applicable
Placement Notice. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">C-1 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT D </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>SIGNIFICANT SUBSIDIARIES OF THE COMPANY </U></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="35%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="30%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="30%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:20.00pt; display:inline; font-size:8pt; font-family:Times New Roman; "><B>Name</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman"><B>Jurisdiction of</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1.00pt solid #000000; width:49.45pt; display:inline; font-size:8pt; font-family:Times New Roman; "><B>Organization</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:49.30pt; display:inline; font-size:8pt; font-family:Times New Roman; "><B>Type of Entity</B></P></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">WashREIT OP LLC</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Delaware</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Limited Liability Company</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">WashREIT OP Sub DC LLC</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Delaware</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Limited Liability Company</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">D-1 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT E </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>FORM OF OPINIONS OF COMPANY COUNSEL </U></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">E-1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT F </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>OFFICER CERTIFICATE </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The
undersigned [&#149;], the duly qualified and elected [&#149;] of Washington Real Estate Investment Trust (&#147;<U>Company</U>&#148;), a Maryland real estate investment trust, does hereby certify in such capacity and on behalf of the Company,
pursuant to Section&nbsp;7(n) of each of the Equity Distribution Agreements dated May&nbsp;4, 2018 (collectively, the &#147;<U>Agreements</U>&#148;) between the Company and each of Wells Fargo Securities, LLC, BNY Mellon Capital Markets, LLC,
Capital One Securities, Inc., Citigroup Global Markets Inc., Goldman Sachs&nbsp;&amp; Co. LLC, J.P. Morgan Securities LLC, KeyBanc Capital Markets Inc. and SunTrust Robinson Humphrey, Inc. (collectively, the &#147;<U>Agents</U>&#148;) that to the
knowledge of the undersigned: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The representations and warranties of the Company in Section&nbsp;5 of each of the Agreements (A)&nbsp;to
the extent such representations and warranties are subject to qualifications and exceptions contained therein relating to materiality or Material Adverse Effect, are true and correct on and as of the date hereof with the same force and effect as if
expressly made on and as of the date hereof, except for those representations and warranties that speak solely as of a specific date and which were true and correct as of such date, and (B)&nbsp;to the extent such representations and warranties are
not subject to any qualifications or exceptions, are true and correct in all material respects as of the date hereof as if made on and as of the date hereof with the same force and effect as if expressly made on and as of the date hereof except for
those representations and warranties that speak solely as of a specific date and which were true and correct as of such date; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The
Company has complied in all material respects with all agreements and satisfied all conditions on their part to be performed or satisfied pursuant to each of the Agreements at or prior to the date hereof (other than those conditions waived by the
Agents). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-1 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT G </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>ISSUER FREE WRITING PROSPECTUSES </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">None </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">G-1 </P>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-1.4
<SEQUENCE>5
<FILENAME>d582540dex14.htm
<DESCRIPTION>EX-1.4
<TEXT>
<HTML><HEAD>
<TITLE>EX-1.4</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 1.4 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Washington Real Estate Investment Trust </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">$250,000,000 of Common Shares of Beneficial Interest </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EQUITY DISTRIBUTION AGREEMENT </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dated:
May&nbsp;4, 2018 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TABLE OF CONTENTS </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="96%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Page</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 1. Description of Securities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2. Placements</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 3. Sale of Placement Securities by Citigroup</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4. Suspension of Sales</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 5. Representations and Warranties</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6. Sale and Delivery to Citigroup; Settlement</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7. Covenants of the Company</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 8. Payment of Expenses</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 9. Conditions of Citigroup&#146;s Obligations</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 10. Indemnification</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">28</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11. Contribution</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">30</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 12. Representations, Warranties and Agreements to Survive Delivery</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">31</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 13. Termination of Agreement</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">31</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 14. Notices</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">32</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 15. Parties</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 16. Adjustments for Stock Splits</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 17. Governing Law; Time and Jurisdiction</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 18. Effect of Headings</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 19. Counterparts</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 20. Definitions</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 21. Permitted Free Writing Prospectuses</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 22. Absence of Fiduciary Relationship</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">i </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXHIBITS </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="7%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exhibit&nbsp;A</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">&nbsp;&nbsp;&nbsp;&nbsp;&#150;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Form of Placement Notice</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exhibit B</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">&#150;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Authorized Individuals for Placement Notices and Acceptances</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exhibit C</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">&#150;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Compensation</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exhibit D</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">&#150;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Significant Subsidiaries of the Company</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exhibit E</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">&#150;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Form of Opinions of Company Counsel</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exhibit F</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">&#150;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Officer Certificate</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exhibit G</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">&#150;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Issuer Free Writing Prospectus</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ii </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Washington Real Estate Investment Trust </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">$250,000,000 of Common Shares of Beneficial Interest </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>EQUITY DISTRIBUTION AGREEMENT </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">May&nbsp;4, 2018 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Citigroup Global Markets Inc.
</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">388 Greenwich Street </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">New York, New York 10013 </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ladies and Gentlemen: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Washington Real Estate
Investment Trust, a Maryland real estate investment trust (the &#147;<U>Company</U>&#148;), confirms its agreement (this &#147;<U>Agreement</U>&#148;) with Citigroup Global Markets Inc. (&#147;<U>Citigroup</U>&#148;), as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 1. <U>Description of Securities</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company agrees that, from time to time during the term of this Agreement, on the terms and subject to the conditions set forth herein, it
may issue and sell through Citigroup, acting as agent and/or principal, Common Shares of Beneficial Interest, par value $0.01 per share (the &#147;<U>Common Stock</U>&#148;), having an aggregate sale price of up to $250,000,000 (such Common Shares,
the &#147;Securities&#148;, and such maximum amount, the &#147;<U>Maximum Amount</U>&#148;). Notwithstanding anything to the contrary contained herein, the parties hereto agree that compliance with the limitations set forth in this Section&nbsp;1
regarding the aggregate sale price of the Securities issued and sold under this Agreement shall be the sole responsibility of the Company, and Citigroup shall have no obligation in connection with such compliance. The issuance and sale of the
Securities through Citigroup will be effected pursuant to the Registration Statement (as defined below) filed by the Company with the Securities and Exchange Commission (the &#147;<U>Commission</U>&#148;), which became effective upon filing,
although nothing in this Agreement shall be construed as requiring the Company to use the Registration Statement to issue the Securities. The Company agrees that whenever it determines to sell Securities directly to Citigroup as principal it will
enter into a separate written agreement containing the terms and conditions of such sale. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company has also entered into separate
equity distribution agreements with respect to the Securities (each, an &#147;<U>Alternative Equity Distribution Agreement</U>&#148; and collectively, the &#147;<U>Alternative Equity Distribution Agreements</U>&#148;), each dated as of the date
hereof, with Wells Fargo Securities, LLC, BNY Mellon Capital Markets, LLC, Capital One Securities, Inc., Goldman Sachs&nbsp;&amp; Co. LLC, J.P. Morgan&nbsp;Securities LLC, KeyBanc&nbsp;Capital Markets Inc. and SunTrust Robinson&nbsp;Humphrey, Inc.
(each, an &#147;<U>Alternative Placement Agent</U>&#148; and collectively, the &#147;<U>Alternative Placement Agents</U>&#148;, and, together with Citigroup, the &#147;<U>Agents</U>&#148;). The aggregate offering price of the Securities that may be
sold pursuant to this Agreement and the Alternative Equity Distribution Agreements collectively shall not exceed the Maximum Amount. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company has filed, in accordance with the provisions of the Securities Act, with the
Commission a registration statement on Form <FONT STYLE="white-space:nowrap">S-3</FONT> (File <FONT STYLE="white-space:nowrap">No.&nbsp;333-224135),</FONT> including a base prospectus, relating to certain securities, including the Securities to be
issued from time to time by the Company, and which incorporates by reference documents that the Company has filed or will file in accordance with the provisions of the Securities Exchange Act of 1934, as amended, and the rules and regulations
thereunder (collectively, the &#147;<U>Exchange Act</U>&#148;). The Company has prepared a prospectus supplement specifically relating to the Securities (the &#147;<U>Prospectus Supplement</U>&#148;) to the base prospectus included as part of such
registration statement. The Company will furnish to Citigroup, for use by Citigroup, copies of the prospectus included as part of such registration statement, as supplemented by the Prospectus Supplement, relating to the Securities. The
&#147;<U>Registration Statement</U>&#148;, as of any time, means such registration statement as amended by any post-effective amendments thereto at such time, including the exhibits and any schedules thereto at such time, the documents incorporated
or deemed to be incorporated by reference therein at such time pursuant to Item 12 of Form <FONT STYLE="white-space:nowrap">S-3</FONT> under the Securities Act and the documents and information otherwise deemed to be a part thereof as of such time
pursuant to Rule 430B of the Securities Act (&#147;<U>Rule 430B</U>&#148;); <I>provided</I>, <I>however</I>, that the &#147;Registration Statement&#148; without reference to a time means such registration statement as amended by any post-effective
amendments thereto as of the time of the first contract of sale for the Securities, which time shall be considered the &#147;new effective date&#148; of the Registration Statement with respect to the Securities within the meaning of paragraph (f)(2)
of Rule 430B, including the exhibits and schedules thereto at such time, the documents and information incorporated or deemed to be incorporated by reference therein at such time pursuant to Item 12 of Form
<FONT STYLE="white-space:nowrap">S-3</FONT> under the Securities Act and the documents otherwise deemed to be a part thereof as of such time pursuant to Rule 430B. The base prospectus, including all documents incorporated therein by reference,
included in the Registration Statement, as it may be supplemented by the Prospectus Supplement, in the form in which such prospectus and/or Prospectus Supplement have most recently been filed by the Company with the Commission pursuant to Rule
424(b) under the Securities Act is herein called the &#147;<U>Prospectus</U>.&#148; Any reference herein to the Registration Statement, the Prospectus or any amendment or supplement thereto shall be deemed to refer to and include the documents
incorporated by reference therein, and any reference herein to the terms &#147;amend,&#148; &#147;amendment&#148; or &#147;supplement&#148; with respect to the Registration Statement or the Prospectus shall be deemed to refer to and include the
filing after the execution hereof of any document with the Commission deemed to be incorporated by reference therein. For purposes of this Agreement, all references to the Registration Statement, the Prospectus or to any amendment or supplement
thereto shall be deemed to include any copy filed with the Commission pursuant to EDGAR. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 2. <U>Placements</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each time that the Company wishes to issue and sell the Securities hereunder (each, a &#147;<U>Placement</U>&#148;), it will notify Citigroup
by email notice (or other method mutually agreed to in writing by the parties) containing the parameters in accordance with which it desires the Securities to be sold, which shall at a minimum include the number or dollar amount of Securities to be
issued (the &#147;<U>Placement Securities</U>&#148;), the time period during which sales are requested to be made, any limitation on the number or dollar amount of Securities that may be sold in any one day and any minimum price below which sales
may not be made (a &#147;<U>Placement </U> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


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<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
<U>Notice</U>&#148;), a form of which containing such minimum sales parameters necessary is attached hereto as <U>Exhibit A</U>. The Placement Notice shall originate from any of the individuals
from the Company set forth on <U>Exhibit B</U> (with a copy to each of the other individuals from the Company listed on such schedule), and shall be addressed to each of the individuals from Citigroup set forth on <U>Exhibit B</U>, as such
<U>Exhibit B</U> may be amended from time to time. If Citigroup wishes to accept such proposed terms included in the Placement Notice (which it may decline to do so for any reason in its sole discretion) or, following discussion with the Company,
wishes to accept amended terms, Citigroup will, prior to 4:30 p.m. (New York City time) on the Business Day following the Business Day on which such Placement Notice is delivered to Citigroup, issue to the Company a notice by email (or other method
mutually agreed to in writing by the parties) addressed to all of the individuals from the Company and Citigroup set forth on <U>Exhibit B</U>) setting forth the terms that Citigroup is willing to accept. Where the terms provided in the Placement
Notice are amended as provided for in the immediately preceding sentence, such terms will not be binding on the Company or Citigroup until the Company delivers to Citigroup an acceptance by email (or other method mutually agreed to in writing by the
parties) of all of the terms of such Placement Notice, as amended (the &#147;<U>Acceptance</U>&#148;), which email shall be addressed to all of the individuals from the Company and Citigroup set forth on <U>Exhibit B</U>. The Placement Notice (as
amended by the corresponding Acceptance, if applicable) shall be effective upon receipt by the Company of Citigroup&#146;s acceptance of the terms of the Placement Notice or upon receipt by Citigroup of the Company&#146;s Acceptance, as the case may
be, unless and until (i)&nbsp;the entire amount of the Placement Securities has been sold, (ii)&nbsp;in accordance with the notice requirements set forth in the second sentence of this paragraph, the Company terminates the Placement Notice,
(iii)&nbsp;the Company issues a subsequent Placement Notice with parameters superseding those on the earlier dated Placement Notice, (iv)&nbsp;this Agreement has been terminated under the provisions of Section&nbsp;13 or (v)&nbsp;either party shall
have suspended the sale of the Placement Securities in accordance with Section&nbsp;4 below. The amount of any discount, commission or other compensation to be paid by the Company to Citigroup in connection with the sale of the Placement Securities
shall be calculated in accordance with the terms set forth in <U>Exhibit C</U>. It is expressly acknowledged and agreed that neither the Company nor Citigroup will have any obligation whatsoever with respect to a Placement or any Placement
Securities unless and until the Company delivers a Placement Notice to Citigroup and either (i)&nbsp;Citigroup accepts the terms of such Placement Notice or (ii)&nbsp;where the terms of such Placement Notice are amended, the Company accepts such
amended terms by means of an Acceptance pursuant to the terms set forth above, and then only upon the terms specified in the Placement Notice (as amended by the corresponding Acceptance, if applicable) and herein. In the event of a conflict between
the terms of this Agreement and the terms of a Placement Notice (as amended by the corresponding Acceptance, if applicable), the terms of the Placement Notice (as amended by the corresponding Acceptance, if applicable) will control. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company agrees that any offer to sell or any sales of Securities pursuant to this Agreement or any Alternative Equity Distribution
Agreement shall only be effected by or through only one of Citigroup or an Alternative Placement Agent on any single given day, and the Company shall in no event request that Citigroup and an Alternative Placement Agent sell Securities on the same
day; <I>provided, however, </I>that the foregoing limitation shall only apply with respect to an agency transaction and shall not apply to any&nbsp;principal transaction effected at any time by any Agent and, provided further, such limitation shall
not apply on any day during which no sales are made pursuant to this Agreement. Notwithstanding the foregoing or anything </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


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to the contrary contained herein, the Company shall be permitted, at any time and from time to time, to engage one or more additional agents and/or principals, subject to such additional agents
and/or principals executing the expense reimbursement agreement then in effect among the Agents relating only to the sale of the Securities and the transactions contemplated by this Agreement and the Alternative Distribution Agreements, that, once
engaged, may offer to sell, solicit an offer to buy or sell the Securities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 3. <U>Sale of Placement Securities by Citigroup</U>.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Subject to the provisions of Section&nbsp;6(a), Citigroup, for the period specified in the Placement Notice, will use its commercially
reasonable efforts consistent with its normal trading and sales practices to sell the Placement Securities up to the amount specified, and otherwise in accordance with the terms of such Placement Notice (as amended by the corresponding Acceptance,
if applicable). Citigroup will provide written confirmation to the Company no later than the opening of the Trading Day (as defined below) immediately following the Trading Day on which it has made sales of Placement Securities hereunder setting
forth the number of Placement Securities sold on such day, the compensation payable by the Company to Citigroup pursuant to Section&nbsp;2 with respect to such sales, and the Net Proceeds (as defined below) payable to the Company, with an
itemization of the deductions made by Citigroup (as set forth in Section&nbsp;6(b)) from the gross proceeds that it receives from such sales. Subject to the terms of the Placement Notice (as amended by the corresponding Acceptance, if applicable),
Citigroup may sell Placement Securities by any method permitted by law deemed to be an &#147;at the market&#148; offering as defined in Rule 415 under the Securities Act, including without limitation sales made directly on the NYSE, on any other
existing trading market for the Common Stock or to or through a market maker. Subject to the terms of the Placement Notice (as amended by the corresponding Acceptance, if applicable), Citigroup may also sell Placement Securities by any other method
permitted by law, including but not limited to in privately negotiated transactions, which may include block trades. The Company acknowledges and agrees that (i)&nbsp;there can be no assurance that Citigroup will be successful in selling Placement
Securities, and (ii)&nbsp;Citigroup will incur no liability or obligation to the Company or any other person or entity if it does not sell Placement Securities for any reason other than a failure by Citigroup to use its commercially reasonable
efforts consistent with its normal trading and sales practices to sell such Placement Securities as required under this Section&nbsp;3. For the purposes hereof, &#147;<U>Trading Day</U>&#148; means any day on which shares of Common Stock are
purchased and sold on the principal market on which the Common Stock is listed or quoted. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 4. <U>Suspension of Sales</U>. The
Company or Citigroup may, upon notice to the other party in writing (including by email correspondence to each of the individuals of the other party set forth on <U>Exhibit B</U>, if receipt of such correspondence is actually acknowledged by any of
the individuals to whom the notice is sent, other than via auto-reply) or by telephone (confirmed immediately by verifiable facsimile transmission or email correspondence to each of the individuals of the other party set forth on <U>Exhibit B</U>),
suspend any sale of Placement Securities; <I>provided</I>, <I>however</I>, that such suspension shall not affect or impair either party&#146;s obligations with respect to any Placement Securities sold hereunder prior to the receipt of such notice or
any Placement Securities sold under the Alternative Equity Distribution Agreements. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>


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Each of the parties agrees that no such notice under this Section&nbsp;4 shall be effective against the other unless it is made to one of the individuals named on <U>Exhibit B</U> hereto, as such
<U>Exhibit B</U> may be amended from time to time. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 5. <U>Representations and Warranties</U>.(a) <I>Representations and Warranties
by the Company</I>. The Company represents and warrants to Citigroup as of the date hereof and as of each Representation Date (as defined below) on which a certificate is required to be delivered pursuant to Section&nbsp;7(n) of this Agreement, as
of each Applicable Time and as of each Settlement Date (as defined below), and agrees with Citigroup, as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1)
<U>Compliance with Registration Requirements</U>. The Securities have been duly registered under the Securities Act pursuant to the Registration Statement. The Registration Statement has become effective under the Securities Act, or, with respect to
any registration statement to be filed to register the offer and sale of the Securities pursuant to Rule 462(b) under the Securities Act (a &#147;<U>Rule 462(b) Registration Statement</U>&#148;), will be filed with the Commission and become
effective under the Securities Act no later than 10:00 p.m. (New York City time), on the date of determination of the public offering price for the Securities, and no stop order preventing or suspending the use of any base prospectus, the Prospectus
Supplement, the Prospectus or any Permitted Free Writing Prospectus (as defined below), or the effectiveness of the Registration Statement or any Rule 462(b) Registration Statement and no proceedings for such purpose have been instituted or are
pending or, to the knowledge of the Company, are contemplated by the Commission, and any request on the part of the Commission for additional information has been complied with. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">At the respective times each of the Registration Statement, any Rule 462(b) Registration Statement and any post-effective
amendments thereto became or becomes effective and as of the date hereof, the Registration Statement, any Rule 462(b) Registration Statement and any amendments and supplements thereto complied and will comply in all material respects with the
requirements of the Securities Act. The conditions for the use of Form <FONT STYLE="white-space:nowrap">S-3,</FONT> as set forth in the General Instructions thereto, and the Registration Statement meets, and the offering and sale of the Securities
as contemplated hereby complies with, the requirements of Rule 415 under the Securities Act (including, without limitation, Rule 415(a)(5)). The Registration Statement, as of the date hereof and each effective date with respect thereto, did not and
will not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading. Neither the Prospectus nor any amendments or supplements thereto, as
of their respective dates, and at each Applicable Time and Settlement Date, as the case may be, included or will include an untrue statement of a material fact or omitted or will omit to state a material fact necessary in order to make the
statements therein, in the light of the circumstances under which they were made, not misleading. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">The representations and warranties set forth in the immediately preceding
paragraph shall not apply to statements in or omissions from the Registration Statement or the Prospectus, as amended or supplemented, made in reliance upon and in conformity with information furnished to the Company in writing by Citigroup
expressly for use therein. For purposes of this Agreement, the only information so furnished as of the date hereof shall be Citigroup&#146;s name (the &#147;<U>Agent Information</U>&#148;). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">The copies of the Registration Statement and any Rule 462(b) Registration Statement and any amendments thereto, any other
preliminary prospectus, each Issuer Free Writing Prospectus that is required to be filed with the Commission pursuant to Rule 433 and the Prospectus and any amendments or supplements thereto delivered and to be delivered to Citigroup (electronically
or otherwise) in connection with the offering of the Securities were and will be identical to the electronically transmitted copies thereof filed with the Commission pursuant to EDGAR, except to the extent permitted by Regulation <FONT
STYLE="white-space:nowrap">S-T.</FONT> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each Issuer Free Writing Prospectus relating to the Securities, as of its issue
date and as of each Applicable Time and Settlement Date, did not, does not and will not include any information that conflicted, conflicts or will conflict with the information contained in the Registration Statement or the Prospectus, including any
incorporated document deemed to be a part thereof that has not been superseded or modified, or included, includes or will include an untrue statement of a material fact or omitted, omits or will omit to state a material fact necessary in order to
make the statements therein, in light of the circumstances, prevailing at that subsequent time, not misleading. The foregoing sentence does not apply to statements in or omissions from any Issuer Free Writing Prospectus based upon and in conformity
with written information furnished to the Company by Citigroup specifically for use therein. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">At the time of the initial
filing of the Registration Statement, at the time of the most recent amendment thereto for the purposes of complying with Section&nbsp;10(a)(3) of the Securities Act (whether such amendment was by post-effective amendment, incorporated report filed
pursuant to Section&nbsp;13 or 15(d) of the Exchange Act or form of prospectus), at the time the Company or another offering participant made a bona fide offer (within the meaning, for this paragraph only, of Rule 164(h)(2) of the Securities Act),
the Company was and is a &#147;well-known seasoned issuer&#148; as defined in Rule 405 of the Securities Act, including not having been and not being an &#147;ineligible issuer,&#148; as defined in Rule 405 of the Securities Act; and, without
limitation to the foregoing, the Company has at all relevant times met, meets and will at all relevant times meet the requirements of Rule 164 for the use of a free writing prospectus (as defined in Rule 405) in connection with the offering
contemplated hereby. The Company agrees to pay the fees required by the Commission relating to the Securities within the time required by Rule 456(b)(1) without regard to the proviso therein and otherwise in accordance with Rules 456(b) and 457(r).
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each document incorporated by reference in the Registration Statement or the
Prospectus heretofore filed, when it was filed (or, if any amendment with respect to any such document was filed, when such amendment was filed), conformed in all material respects with the requirements of the Exchange Act, and any further documents
so filed and incorporated after the date of this Agreement will, when they are filed, conform in all material respects with the requirements of the Exchange Act; no such document when it was filed (or, if an amendment with respect to any such
document was filed, when such amendment was filed), contained an untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make the statements therein not misleading; and no such
document, when it is filed, will contain an untrue statement of a material fact or will omit to state a material fact required to be stated therein or necessary in order to make the statements therein not misleading. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) <U>Prior Written Communications</U>. Any offer that is a written communication relating to the Securities made prior to the
initial filing of the Registration Statement by the Company or any person acting on its behalf (within the meaning, for this paragraph only, of Rule 163(c) of the Securities Act) has been filed with the Commission in accordance with the exemption
provided by Rule 163 of the Securities Act and otherwise complied with the requirements of Rule 163 of the Securities Act, including without limitation the legending requirement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) <U>Good Standing of Company</U>. The Company has been duly organized and is validly existing as a real estate investment
trust of unlimited duration with transferable shares of beneficial interest in good standing under the laws of the State of Maryland, with full power and authority to own, lease and operate its properties and to conduct its business as described in
the Registration Statement and the Prospectus and to enter into this Agreement and to consummate the transactions contemplated by the Registration Statement and the Prospectus. The Company is duly qualified to transact business and is in good
standing in each jurisdiction in which such qualification is required, whether by reason of the ownership or leasing of property or the conduct of business, except where the failure to so qualify or be in good standing would not result in a material
adverse change in the condition, financial or otherwise, or the results of operations, business, properties or prospects of the Company and its subsidiaries considered as one enterprise, whether or not arising in the ordinary course of business (a
&#147;<U>Material Adverse Effect</U>&#148;). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) <U>Subsidiaries</U>. Each &#147;significant subsidiary&#148; of the
Company (as such term is defined in Rule <FONT STYLE="white-space:nowrap">1-02</FONT> of Regulation <FONT STYLE="white-space:nowrap">S-X</FONT> promulgated under the Securities Act) (each, a &#147;Subsidiary&#148; and, collectively, the
&#147;Subsidiaries&#148;) (which term includes corporations, limited and general partnerships, limited liability companies, joint ventures and other entities, and includes direct and indirect subsidiaries), has been duly organized and is validly
existing as a corporation, limited liability company or partnership, as the case may be, in good standing under the laws of the jurisdiction of its incorporation or organization, has power and authority to own, lease and operate its properties and
to conduct its business as described in the Registration Statement and the Prospectus and is duly qualified to transact business and is in good standing in each jurisdiction in which such qualification is required, whether by reason of the ownership
or leasing of property or the conduct of business, except where the failure to so qualify or be in good standing would not result in a Material Adverse Effect. Except as otherwise stated in the Registration Statement or the Prospectus, all of the
issued and outstanding capital stock or other ownership interests of each subsidiary have been duly authorized and validly </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>


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issued, are fully paid and <FONT STYLE="white-space:nowrap">non-assessable</FONT> and are owned by the Company, directly or through subsidiaries, free and clear of any security interest,
mortgage, pledge, lien, encumbrance, claim or equity; and none of the outstanding shares of capital stock of any subsidiary was issued in violation of preemptive or other similar rights of any security holder of such subsidiary. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(5) <U>Capitalization</U>. The Securities and all other outstanding Common Stock have been duly authorized; the authorized
equity capitalization of the Company is as set forth in the Prospectus; all outstanding Common Stock is, and, when the Securities have been delivered and paid for in accordance with this Agreement or any Alternative Equity Distribution Agreement,
such Securities will have been, validly issued, fully paid and nonassessable, will be consistent with the information in the Prospectus and will conform to the description thereof contained in the Prospectus; the shareholders of the Company have no
preemptive rights with respect to the Securities; and none of the outstanding Common Stock has been issued in violation of any preemptive or similar rights of any security holder. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(6) <U>Absence of Further Requirements</U>. No consent, approval, authorization, or order of, or filing or registration with,
any person (including any governmental agency or body or any court) is required for the consummation by the Company of the transactions contemplated by this Agreement in connection with the offering, issuance and sale of the Securities by the
Company, except such as have been obtained under the Securities Act, and such as may be required under state securities laws. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(7) <U>Title to Property</U>. The Company and its subsidiaries have good and marketable title to, or valid and enforceable
leasehold estates in, all items of real and personal property referred to in the Registration Statement and the Prospectus as owned or leased by them, in each case free and clear of all liens, encumbrances, claims, security interests and defects,
other than those disclosed in the Registration Statement or the Prospectus or that would not, individually or in the aggregate, have a Material Adverse Effect. The Company has no reasonable basis to believe that the lessee under any lease calling
for annual lease payments in excess of one percent of the Company&#146;s annual revenue for its last fiscal year is not financially capable of performing its obligations thereunder (excluding leases for which rent payments due for the remainder of
such lease are less than such amount). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(8) <U>Absence of Defaults and Conflicts Resulting from Transaction</U>. The
execution, delivery and performance of this Agreement, and the issuance and sale of the Securities and compliance with the terms and provisions thereof will not result in a breach or violation of any of the terms and provisions of, or constitute a
default or a Debt Repayment Triggering Event (as defined below) under, or result in the imposition of any lien, charge or encumbrance upon any property or assets of the Company or any of its subsidiaries pursuant to, the declaration of trust,
partnership agreement, charter or bylaws or other organizational documents of the Company or any of its subsidiaries, any statute, rule, regulation or order of any governmental agency or body or any court, domestic or foreign, having jurisdiction
over the Company or any of its subsidiaries or any of their properties, or any agreement or instrument to which the Company or any of its </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>


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subsidiaries is a party or by which the Company or any of its subsidiaries is bound or to which any of the properties of the Company or any of its subsidiaries is subject; a &#147;Debt Repayment
Triggering Event&#148; means any event or condition that gives, or with the giving of notice or lapse of time would give, the holder of any note, debenture, or other evidence of indebtedness (or any person acting on such holder&#146;s behalf) the
right to require the repurchase, redemption or repayment of all or a portion of such indebtedness by the Company or any of its subsidiaries. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(9) <U>Absence of Existing Defaults and Conflicts</U>. Neither the Company nor any of its subsidiaries is (i)&nbsp;in violation
of its respective declaration of trust, partnership agreement, charter or bylaws or other organizational document or (ii)&nbsp;in default (or with the giving of notice or lapse of time would be in default) under any existing obligation, agreement,
covenant or condition contained in any indenture, loan agreement, mortgage, lease or other agreement or instrument to which any of them is a party or by which any of them is bound or to which any of the properties of any of them is subject or
(iii)&nbsp;in violation of any law or statute or any judgment, order, rule or regulation of any court or arbitrator or governmental or regulatory authority, except, in the case of clauses (ii)&nbsp;and (iii) above, for any such default or violation
that would not, individually or in the aggregate, have a Material Adverse Effect or materially and adversely affect the ability of the Company to perform its obligations under this Agreement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(10) <U>Authorization of Agreement</U>. This Agreement has been duly authorized, executed and delivered by the Company. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(11) <U>Possession of Licenses and Permits</U>. The Company and its subsidiaries possess, and are in compliance with the terms
of, all certificates, authorizations, franchises, licenses and permits (&#147;<U>Licenses</U>&#148;) necessary or material to the conduct of the business now conducted or proposed in the Registration Statement and the Prospectus to be conducted by
them and have not received any notice of proceedings relating to the revocation or modification of any Licenses that, if determined adversely to the Company or any of its subsidiaries, would individually or in the aggregate have a Material Adverse
Effect. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(12) <U>Absence of Labor Dispute</U>. No labor dispute with the employees of the Company or any of its
subsidiaries exists or, to the knowledge of the Company, is imminent, and the Company is not aware of any existing or imminent labor disturbance by the employees of any of its or its subsidiaries&#146; principal suppliers, contractors or customers,
that, in any such case, would have a Material Adverse Effect. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(13) <U>Possession of Intellectual Property</U>. The Company
and its subsidiaries own, possess or can acquire on reasonable terms, adequate trademarks, trade names and other rights to inventions, <FONT STYLE="white-space:nowrap">know-how,</FONT> patents, copyrights, confidential information and other
intellectual property (collectively, &#147;intellectual property rights&#148;) necessary to conduct the business now operated by them, or presently employed by them, and have not received any notice of infringement of or conflict with asserted
rights of others with respect to any intellectual property rights that, if determined adversely to the Company or any of its subsidiaries, would individually or in the aggregate have a Material Adverse Effect. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">9 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(14) <U>Environmental Laws</U>. Except as disclosed in the Registration Statement
and the Prospectus, neither the Company nor any of its subsidiaries is in violation of any statute, any rule, regulation, decision or order of any governmental agency or body or any court, domestic or foreign, relating to the use, disposal or
release of hazardous or toxic substances or relating to the protection or restoration of the environment or human exposure to hazardous or toxic substances (collectively, &#147;environmental laws&#148;), owns or operates any real property
contaminated with any substance that is subject to any environmental laws, is liable for any <FONT STYLE="white-space:nowrap">off-site</FONT> disposal or contamination pursuant to any environmental laws, or is subject to any claim relating to any
environmental laws, which violation, contamination, liability or claim would individually or in the aggregate have a Material Adverse Effect; and the Company is not aware of any pending investigation which might lead to such a claim. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(15) <U>Accurate Disclosure</U>. The statements in, or incorporated by reference into, the Registration Statement and the
Prospectus under the headings &#147;Description of Shares,&#148; &#147;Description of Common Shares,&#148; &#147;Material U.S. Federal Income Tax Considerations&#148; and &#147;Risk Factors&#148; and the statements in the Registration Statement
under Item 15 insofar as such statements summarize legal matters, agreements, documents or proceedings discussed therein, are accurate and fair summaries of such legal matters, agreements, documents or proceedings and present the information
required to be shown in all material respects. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(16) <U>REIT Status</U>. With respect to all tax periods regarding which
the Internal Revenue Service is or will be entitled to assert any claim, the Company has met the requirements for qualification as a real estate investment trust (&#147;<U>REIT</U>&#148;) under Sections 856 through 860 of the Internal Revenue Code,
as amended (the &#147;<U>Code</U>&#148;), and the Company&#146;s current organization and present and contemplated operations, assets and income as described in the Registration Statement and the Prospectus will permit the Company to continue to
meet such requirements. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(17) <U>Insurance</U>. The Company and its subsidiaries are insured by insurers of recognized
financial responsibility against such losses and risks and in such amounts as are prudent and customary in the businesses in which they are engaged; the Company has no reason to believe that it or any of its subsidiaries will not be able to renew
its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business at a cost that would not have a Material Adverse Effect; and the Company and each of
its subsidiaries has obtained title insurance on all of the properties owned by each of them in an amount at least equal to the original purchase price to acquire land and improvements and such title insurance is in full force and effect. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(18) <U>Taxes</U>. The Company has filed all federal, state and foreign income tax returns that have been required to be filed
and has paid all taxes indicated by said returns and all assessments, fines and penalties received by it to the extent that such taxes, assessments, fines or penalties have become due. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">10 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(19) <U>Statistical and Market-Related Data</U>. Any third-party statistical and
market-related data included or incorporated by reference in the Registration Statement or the Prospectus are based on or derived from sources that the Company believes to be reliable and accurate. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(20) <U>Compliance with Sarbanes-Oxley Act</U>. Except as set forth in the Registration Statement and the Prospectus,
(i)&nbsp;the Company, its subsidiaries and the Company&#146;s Board of Trustees (the &#147;<U>Board</U>&#148;) are in compliance in all material respects with Sarbanes-Oxley (as defined below) and all applicable Exchange Rules (as defined below);
(ii)&nbsp;the Company has adopted and disclosed corporate governance guidelines; (iii)&nbsp;the Company maintains a system of internal controls, including, but not limited to, disclosure controls and procedures, internal control over financial
reporting, an internal audit function and legal and regulatory compliance controls (collectively, &#147;<U>Internal Controls</U>&#148;), which complies with the Securities Laws (as defined below) and is overseen by the Audit Committee (the
&#147;<U>Audit Committee</U>&#148;) of the Board in accordance with Exchange Rules; (iv)&nbsp;since December&nbsp;31, 2009, the Company has not publicly disclosed or reported to the Audit Committee or the Board, and within the next 90 days the
Company does not reasonably expect to publicly disclose or report to the Audit Committee or the Board, a significant deficiency, material weakness, change in Internal Controls or fraud involving management or other employees who have a significant
role in Internal Controls (each, an &#147;<U>Internal Control Event</U>&#148;), any violation of, or failure to comply with, the Securities Laws, or any matter which, if determined adversely, would have a Material Adverse Effect; and
(v)&nbsp;&#147;Securities Laws&#148; means, collectively, the Sarbanes-Oxley Act of 2002 (&#147;<U>Sarbanes-Oxley</U>&#148;), the Securities Act, the Exchange Act, the rules and regulations of the Commission, the auditing principles, rules,
standards and practices applicable to auditors of &#147;issuers&#148; (as defined in Sarbanes-Oxley) promulgated or approved by the Public Company Accounting Oversight Board (&#147;<U>PCAOB Rules</U>&#148; and &#147;<U>PCAOB</U>,&#148;
respectively), and, as applicable, the rules of the New York Stock Exchange (&#147;<U>Exchange Rules</U>&#148;). There is and has been no failure on the part of the Company and any of the Company&#146;s trustees or officers, in their capacities as
such, to comply with Sarbanes-Oxley Section&nbsp;402 relating to loans and there is and has been no material failure on the part of the Company and any of the Company&#146;s trustees or officers, in their capacities as such to comply with
Sarbanes-Oxley Sections 302 and 906 relating to certifications. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(21) <U>Litigation</U>. Except as disclosed in the
Registration Statement and the Prospectus, there are no pending actions, suits or proceedings (including any inquiries or investigations by any court or governmental agency or body, domestic or foreign) against or affecting the Company, any of its
subsidiaries or any of their respective properties that, if determined adversely to the Company or any of its subsidiaries, would individually or in the aggregate have a Material Adverse Effect, or would materially and adversely affect the ability
of the Company to perform its obligations under this Agreement, or which are otherwise material in the context of the sale of the Securities; and no such actions, suits or proceedings (including any inquiries or investigations by any court or
governmental agency or body, domestic or foreign) are threatened or, to the Company&#146;s knowledge, contemplated. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">11 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(22) <U>No Registration Rights</U>. No holders of securities of the Company have
rights to the registration of such securities under the Registration Statement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(23) <U>Financial Statements</U>. The
consolidated historical financial statements and schedules of the Company and its consolidated subsidiaries included in the Registration Statement and the Prospectus present fairly the financial condition, results of operations, shareholders&#146;
equity and cash flows of the Company as of the dates and for the periods indicated, comply as to form with the applicable accounting requirements of the Securities Act and have been prepared in conformity with generally accepted accounting
principles applied on a consistent basis throughout the periods involved (except as otherwise noted therein). The selected financial data set forth under the caption &#147;Selected Financial Information&#148; in the Registration Statement and the
Prospectus fairly present, on the basis stated in the Registration Statement and the Prospectus, the information included therein. The pro forma financial statements included in Registration Statement and the Prospectus include assumptions that
provide a reasonable basis for presenting the significant effects directly attributable to the transactions and events described therein, the related pro forma adjustments give appropriate effect to those assumptions, and the pro forma adjustments
reflect the proper application of those adjustments to the historical financial statement amounts in the pro forma financial statements included in the Registration Statement and the Prospectus. The pro forma financial statements included in the
Registration Statement and the Prospectus comply as to form in all material respects with the applicable accounting requirements of Regulation <FONT STYLE="white-space:nowrap">S-X</FONT> under the Securities Act and the pro forma adjustments have
been properly applied to the historical amounts in the compilation of those statements. The historical summaries of revenue and certain operating expenses included in the Registration Statement and the Prospectus present fairly the revenue and those
operating expenses included in such summaries of the properties related thereto for the periods specified in conformity with GAAP. Any information contained in the Registration Statement or the Prospectus regarding
<FONT STYLE="white-space:nowrap">&#147;non-GAAP</FONT> financial measures&#148; (as defined in Regulation G of the Commission) complies with Regulation G and Item 10 of Regulation <FONT STYLE="white-space:nowrap">S-K</FONT> of the Commission, to the
extent applicable. The interactive data in eXtensible Business Reporting Language included or incorporated by reference in the Registration Statement and the Prospectus fairly presents the information called for in all material respects and is
prepared in accordance with the Commission&#146;s rules and guidelines applicable thereto. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(24) <U>Independent
Accountants</U>. The accountants, who certified the financial statements and delivered their reports with respect to the audited consolidated financial statements and supporting schedules included in the Registration Statement and the Prospectus,
are independent registered public accountants with respect to the Company within the meaning of the Securities Act and the applicable published rules and regulations thereunder. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">12 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(25) <U>No Prohibition on Dividends by Subsidiaries</U>. Except as otherwise
provided in a secured loan document relating to a property owned by a subsidiary, no Subsidiary of the Company is currently prohibited, directly or indirectly, from paying any dividends to the Company, from making any other distribution on such
Subsidiary&#146;s capital stock, from repaying to the Company any loans or advances to such subsidiary from the Company or from transferring any of such Subsidiary&#146;s property or assets to the Company or any other subsidiary of the Company,
except as described in or contemplated by the Registration Statement and the Prospectus (exclusive of any supplement thereto). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(26) <U>Absence of Manipulation</U>. The Company has not taken, directly or indirectly, any action designed to or that would
constitute or that might reasonably be expected to cause or result in stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Securities. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(27) <U>ERISA</U>. None of the following events has occurred or exists that would have a Material Adverse Effect: (i)&nbsp;a
failure to fulfill the obligations, if any, under the minimum funding standards of Section&nbsp;302 of the United States Employee Retirement Income Security Act of 1974, as amended (&#147;<U>ERISA</U>&#148;), and the regulations and published
interpretations thereunder with respect to a Plan, determined without regard to any waiver of such obligations or extension of any amortization period; (ii)&nbsp;an audit or investigation by the Internal Revenue Service, the U.S. Department of
Labor, the Pension Benefit Guaranty Corporation or any other federal or state governmental agency or any foreign regulatory agency with respect to the employment or compensation of employees by any of the Company or any of its subsidiaries;
(iii)&nbsp;any breach of any contractual obligation, or any violation of law or applicable qualification standards, with respect to the employment or compensation of employees by the Company or any of its subsidiaries. None of the following events
has occurred or is reasonably likely to occur: (i)&nbsp;a material increase in the aggregate amount of contributions required to be made to all Plans in the current fiscal year of the Company and its subsidiaries compared to the amount of such
contributions made in the most recently completed fiscal year of the Company and its subsidiaries; (ii)&nbsp;a material increase in the &#147;accumulated post-retirement benefit obligations&#148; (within the meaning of Statement of Financial
Accounting Standards 106) of the Company and its subsidiaries compared to the amount of such obligations in the most recently completed fiscal year of the Company and its subsidiaries; (iii)&nbsp;any event or condition giving rise to a liability
under Title IV of ERISA that would have a Material Adverse Effect; or (iv)&nbsp;the filing of a claim by one or more employees or former employees of the Company or any of its subsidiaries related to their employment that would have a Material
Adverse Effect. For purposes of this paragraph, the term &#147;Plan&#148; means a plan (within the meaning of Section&nbsp;3(3) of ERISA) subject to Title IV of ERISA with respect to which the Company or any of its subsidiaries may have any
liability. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(28) <U>Foreign Corrupt Practices Act</U>. Neither the Company nor any of its subsidiaries nor, to the
knowledge of the Company, any trustee, officer, agent, employee or affiliate of the Company or any of its subsidiaries is aware of or has taken any action, directly or indirectly, that would result in a violation by such persons of the Foreign
Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder (the &#147;<U>FCPA</U>&#148;), including, without limitation, making use of the mails or any means or </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">13 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
instrumentality of interstate commerce corruptly in furtherance of an offer, payment, promise to pay or authorization of the payment of any money, or other property, gift, promise to give, or
authorization of the giving of anything of value to any &#147;foreign official&#148; (as such term is defined in the FCPA) or any foreign political party or official thereof or any candidate for foreign political office, in contravention of the
FCPA; and the Company, its subsidiaries and, to the knowledge of the Company, its other affiliates have conducted their businesses in compliance with the FCPA. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(29) <U>Money Laundering Laws</U>. The operations of the Company and its subsidiaries are and have been conducted at all times
in compliance with applicable financial recordkeeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended, the money laundering statutes of all applicable jurisdictions, the rules and regulations
thereunder and any related or similar applicable rules, regulations or guidelines, issued, administered or enforced by any governmental agency (collectively, &#147;<U>Money Laundering Laws</U>&#148;) and no action, suit or proceeding by or before
any court or governmental agency, authority or body or any arbitrator involving the Company or any of its subsidiaries with respect to the Money Laundering Laws is pending or, to the knowledge of the Company, threatened. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(30) <U>OFAC</U>. Neither the Company nor any of its subsidiaries nor, to the knowledge of the Company, any trustee, officer,
agent, employee, affiliate or person acting on behalf of the Company or any of its subsidiaries is currently subject to any U.S. sanctions administered by the Office of Foreign Assets Control of the U.S. Treasury Department
(&#147;<U>OFAC</U>&#148;); and the Company will not directly or indirectly use any of the proceeds received by the Company from the sale of Securities contemplated by this Agreement, or lend, contribute or otherwise make available any such proceeds
to any subsidiary, joint venture partner or other person or entity, for the purpose of financing the activities of any person currently subject to any U.S. sanctions administered by OFAC. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(31) <U>Significant Subsidiaries</U>. The subsidiaries listed on <U>Exhibit D</U> attached hereto are the only significant
subsidiaries of the Company as defined by <FONT STYLE="white-space:nowrap">Rule&nbsp;1-02</FONT> of Regulation <FONT STYLE="white-space:nowrap">S-X.</FONT> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(32) <U>Lending Relationship</U>. Except as disclosed in the Registration Statement and the Prospectus, neither the Company nor
any of its subsidiaries has any outstanding borrowings from, or is a party to any line of credit, credit agreement or other credit facility or otherwise has a borrowing relationship with, any bank or other lending institution affiliated with
Citigroup, and, except as disclosed in the Registration Statement and the Prospectus, the Company does not intend to use any of the proceeds from the sale of the Securities to repay any debt owed to Citigroup or any affiliate thereof. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(33) <U>No Other Contracts</U>. There are no contracts or documents that are required to be described in the Registration
Statement or the Prospectus or the documents incorporated by reference therein or to be filed as exhibits thereto that have not been so described and filed as required. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">14 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(34) <U>Investment Company Act</U>. The Company is not and, after giving effect
to the offering and sale of the Securities and the application of the proceeds thereof as described in the Registration Statement and the Prospectus, will not be an &#147;investment company&#148; as defined in the Investment Company Act of 1940 (the
&#147;<U>Investment Company Act</U>&#148;). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(35) <U>Finder&#146;s Fee</U>. Other than this Agreement, there are no
contracts, agreements or understandings between the Company and any person that would give rise to a valid claim against the Company or Citigroup for a brokerage commission, finder&#146;s fee or other like payment as a result of any transactions
contemplated by this Agreement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(36) <U>Proprietary Trading by Citigroup</U>. The Company acknowledges and agrees that
Citigroup has informed the Company that Citigroup may, to the extent permitted under the Securities Act and the Exchange Act, purchase and sell shares of Common Stock for its own account and for the account of its clients while this Agreement is in
effect, and shall be under no obligation to purchase Securities on a principal basis pursuant to this Agreement, except as otherwise agreed by Citigroup in the Placement Notice (as amended by the corresponding Acceptance, if applicable); provided,
that no such purchase or sales for Citigroup&#146;s own account shall take place while a Placement Notice is in effect (except (i)&nbsp;as agreed by Citigroup in the Placement Notice (as amended by the corresponding Acceptance, if applicable) or
(ii)&nbsp;to the extent Citigroup may engage in sales of Placement Securities purchased or deemed purchased from the Company as a &#147;riskless principal&#148; or in a similar capacity). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(37) <U>No Material Adverse Change in Business</U>. Except as disclosed in the Prospectus, since the end of the period covered
by the latest audited financial statements included in the Prospectus (i)&nbsp;there has been no change, nor any development or event involving a prospective change, in the condition (financial or otherwise), results of operations, business,
properties or prospects of the Company and its subsidiaries, taken as a whole that is material and adverse, (ii)&nbsp;except for ordinary quarterly dividends, there has been no dividend or distribution of any kind declared, paid or made by the
Company on any class of its capital stock and (iii)&nbsp;there has been no material adverse change in the capital stock, short-term indebtedness, long-term indebtedness, net current assets or net assets of the Company and its subsidiaries. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(38) <U>Actively Traded Security</U>. Except under circumstances where the Company has provided Citigroup with the notice
required pursuant to Section&nbsp;7(x) of this Agreement, the Common Stock is an &#147;actively traded security&#148; excepted from the requirements of Rule 101 of Regulation M under the Exchange Act by subsection&nbsp;(c)(1) of such rule. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(39) <U>NYSE</U>. The outstanding shares of Common Stock have been and the Securities to be sold by the Company hereunder will
have been approved for listing, subject only to official notice of issuance, on the NYSE, and are registered pursuant to Section&nbsp;12(b) of the Exchange Act, and the Company has taken no action designed to, or likely to have the effect of,
terminating the registration of the Securities under the Exchange Act or delisting any such securities from the NYSE, nor has the Company received any notification that the Commission or the NYSE is contemplating terminating such registration or
listing. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">15 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <I>Certificates</I>. Any certificate signed by any officer of the Company or any of its
subsidiaries and delivered to Citigroup or to counsel for Citigroup shall be deemed a representation and warranty by the Company to Citigroup as to the matters covered thereby. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 6. <U>Sale and Delivery to Citigroup; Settlement</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Sale of Placement Securities</I>. On the basis of the representations and warranties herein contained and subject to the terms and
conditions herein set forth, upon Citigroup&#146;s acceptance of the terms of a Placement Notice or upon receipt by Citigroup of an Acceptance, as the case may be, and unless the sale of the Placement Securities described therein has been declined,
suspended, or otherwise terminated in accordance with the terms of this Agreement, Citigroup, for the period specified in the Placement Notice (as amended by the corresponding Acceptance, if applicable), will use its commercially reasonable efforts
consistent with its normal trading and sales practices to sell such Placement Securities up to the amount specified, and otherwise in accordance with the terms of such Placement Notice (as amended by the corresponding Acceptance, if applicable). The
Company acknowledges and agrees that (i)&nbsp;there can be no assurance that Citigroup will be successful in selling Placement Securities, (ii)&nbsp;Citigroup will incur no liability or obligation to the Company or any other person or entity if it
does not sell Placement Securities for any reason other than a failure by Citigroup to use its commercially reasonable efforts consistent with its normal trading and sales practices to sell such Placement Securities as required under this
Section&nbsp;6 and (iii)&nbsp;Citigroup shall be under no obligation to purchase Securities on a principal basis pursuant to this Agreement, except as otherwise agreed by Citigroup in the Placement Notice (as amended by the corresponding Acceptance,
if applicable). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <I>Settlement of Placement Securities</I>. Unless otherwise specified in the applicable Placement Notice (as amended
by the corresponding Acceptance, if applicable), settlement for sales of Placement Securities will occur on the second (2<SUP STYLE="font-size:85%; vertical-align:top">nd</SUP>) Trading Day (or such earlier day as is industry practice for <FONT
STYLE="white-space:nowrap">regular-way</FONT> trading) following the date on which such sales are made (each, a &#147;<U>Settlement Date</U>&#148;). The amount of proceeds to be delivered to the Company on a Settlement Date against receipt of the
Placement Securities sold (the &#147;<U>Net Proceeds</U>&#148;) will be equal to the aggregate sales price received by Citigroup at which such Placement Securities were sold, after deduction for (i)&nbsp;Citigroup&#146;s commission, discount or
other compensation for such sales payable by the Company pursuant to Section&nbsp;2 hereof, (ii)&nbsp;any other amounts due and payable by the Company to Citigroup hereunder pursuant to Section&nbsp;8(a) hereof, and (iii)&nbsp;any transaction fees
imposed by any governmental or self-regulatory organization in respect of such sales. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <I>Delivery of Placement Securities</I>. On or
before each Settlement Date, the Company will, or will cause its transfer agent to, electronically transfer the Placement Securities being sold by crediting Citigroup&#146;s or its designee&#146;s account (provided Citigroup shall have given the
Company written notice of such designee prior to the Settlement Date) at The Depository Trust Company through its Deposit and Withdrawal at Custodian System or by such </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">16 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
other means of delivery as may be mutually agreed upon by the parties hereto which in all cases shall be freely tradable, transferable, registered shares in good deliverable form. On each
Settlement Date, Citigroup will deliver the related Net Proceeds in same day funds to an account designated by the Company on, or prior to, the Settlement Date. The Company agrees that if the Company, or its transfer agent (if applicable), defaults
in its obligation to deliver Placement Securities on a Settlement Date, the Company agrees that in addition to and in no way limiting the rights and obligations set forth in Section&nbsp;10(a) hereto, it will (i)&nbsp;hold Citigroup harmless against
any loss, liability, claim, damage, or expense whatsoever (including reasonable legal fees and expenses), as incurred, arising out of or in connection with such default by the Company or its transfer agent and (ii)&nbsp;pay to Citigroup any
commission, discount, or other compensation to which it would otherwise have been entitled absent such default. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <I>Denominations;
Registration</I>. Certificates for the Securities shall be in such denominations and registered in such names as Citigroup may request in writing at least one full business day before the Settlement Date. The Company shall deliver the Securities, if
any, through the facilities of The Depository Trust Company unless Citigroup shall otherwise instruct. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) <I>Limitations on Offering
Size</I>. Under no circumstances shall the Company cause or request the offer or sale of any Securities, if after giving effect to the sale of such Securities, the aggregate offering price of the Securities sold pursuant to this Agreement would
exceed the lesser of (A)&nbsp;together with all sales of Securities under the Alternative Equity Distribution Agreements, the Maximum Amount, (B)&nbsp;the amount available for offer and sale under the currently effective Registration Statement and
(C)&nbsp;the amount authorized from time to time to be issued and sold under this Agreement and the Alternative Equity Distribution Agreements by the Company (which authorized amount shall be notified to Citigroup in writing at any time upon
Citigroup&#146;s written request during the pendency of an active Placement Notice). Under no circumstances shall the Company cause or request the offer or sale of any Securities pursuant to this Agreement and the Alternative Equity Distribution
Agreements at a price lower than the minimum price authorized from time to time by the Company (which minimum price shall be notified to Citigroup in writing at any time upon Citigroup&#146;s written request during the pendency of an active
Placement Notice). Further, under no circumstances shall the aggregate offering price of Securities sold pursuant to this Agreement and the Alternative Equity Distribution Agreements, including any separate underwriting or similar agreement covering
principal transactions described in Section&nbsp;1 of this Agreement, exceed the Maximum Amount. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f)
<I><FONT STYLE="white-space:nowrap">Black-out</FONT> Limitations</I>. Notwithstanding any other provision of this Agreement, the Company shall not offer or sell, or instruct Citigroup to offer or sell, any Securities through Citigroup as agent (and,
by notice to Citigroup given by telephone (confirmed promptly by telecopy or email), shall cancel any instructions for any such offer or sale of any Securities prior to the commencement of the periods referenced below), and Citigroup shall not be
obligated to make any such offer or sale of Securities, (i)&nbsp;during any period in which the Company is, or could be deemed to be, in possession of material <FONT STYLE="white-space:nowrap">non-public</FONT> information or (ii)&nbsp;except as
provided in Section&nbsp;6(f)(1) hereof, at any time from and including the date on which the Company issues a press release containing, or shall otherwise publicly announce, its earnings, revenues or other operating results for a fiscal period or
periods (each, an &#147;<U>Earnings Announcement</U>&#148;) through and including the time that is 24 hours after the time that the Company files a Quarterly Report on Form <FONT STYLE="white-space:nowrap">10-Q</FONT> or an Annual Report on Form <FONT
STYLE="white-space:nowrap">10-K</FONT> (a &#147;<U>Filing Time</U>&#148;) that includes consolidated financial statements as of and for the same fiscal period or periods, as the case may be, covered by such Earnings Announcement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">17 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) If the Company wishes to offer or sell Securities to Citigroup as agent at
any time during the period from and including an Earnings Announcement through and including the time that is 24 hours after the corresponding Filing Time, the Company shall first (i)&nbsp;prepare and deliver to Citigroup (with a copy to counsel to
Citigroup) a Current Report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> that includes substantially the same financial and related information (together with management&#146;s discussion and analysis thereof) that was included in such
Earnings Announcement (other than any earnings projections and similar forward-looking data and officers&#146; quotations) (each, an &#147;<U>Earnings <FONT STYLE="white-space:nowrap">8-K</FONT></U>&#148;), in form and substance reasonably
satisfactory to Citigroup, and, prior to its filing, obtain the written consent of Citigroup to such filing (which consent shall not be unreasonably withheld or delayed), (ii) provide Citigroup with the officers&#146; certificate, opinions and
letters of counsel and accountants&#146; letter specified in Section&nbsp;7(o), (p) and (q), respectively, hereof, (iii)&nbsp;afford Citigroup the opportunity to conduct a due diligence review in accordance with Section&nbsp;7(m) hereof prior to
filing such Earnings <FONT STYLE="white-space:nowrap">8-K</FONT> and (iv)&nbsp;file such Earnings <FONT STYLE="white-space:nowrap">8-K</FONT> with the Commission, then the provision of clause (ii)&nbsp;of Section&nbsp;6(f) shall not be applicable
for the period from and after the time at which the foregoing conditions shall have been satisfied (or, if later, the time that is 24 hours after the time that the relevant Earnings Announcement was first publicly released) through and including the
time that is 24 hours after the Filing Time of the relevant Quarterly Report on Form <FONT STYLE="white-space:nowrap">10-Q</FONT> or Annual Report on Form <FONT STYLE="white-space:nowrap">10-K,</FONT> as the case may be. For purposes of clarity, the
parties hereto agree that (A)&nbsp;the delivery of any officers&#146; certificate, opinion or letter of counsel or accountants&#146; letter pursuant to this Section&nbsp;6(f) shall not relieve the Company from any of its obligations under this
Agreement with respect to any Quarterly Report on Form <FONT STYLE="white-space:nowrap">10-Q</FONT> or Annual Report on Form <FONT STYLE="white-space:nowrap">10-K,</FONT> as the case may be, including, without limitation, the obligation to deliver
officers&#146; certificates, opinions and letters of counsel and accountants&#146; letters as provided in Section&nbsp;7(o), (p) and (q), respectively, hereof, and (B)&nbsp;this Section&nbsp;6(f) shall in no way affect or limit the operation of
clause (i)&nbsp;of Section&nbsp;6(f) hereof, which shall have independent application. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 7. <U>Covenants of the Company</U>. The
Company covenants with Citigroup as follows: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Registration Statement Amendments; Payment of Fees</I>. After the date of this
Agreement and during any period in which a Prospectus relating to any Placement Securities is required to be delivered by Citigroup under the Securities Act (including in circumstances where such requirement may be satisfied pursuant to Rule 172
under the Securities Act), (i) the Company will notify Citigroup promptly of the time when any subsequent amendment to the Registration Statement, other than documents incorporated by reference, has been filed with the Commission and/or has become
effective or any subsequent supplement to the Prospectus has been filed and of any comment letter from the Commission or any request by the Commission for any amendment or supplement to the Registration Statement or Prospectus or for additional
information; (ii)&nbsp;the Company will prepare and file with the Commission, promptly upon Citigroup&#146;s request, any amendments or supplements to the Registration Statement or Prospectus </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">18 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
that, in Citigroup&#146;s reasonable opinion, may be necessary or advisable in connection with the distribution of the Placement Securities by Citigroup (<I>provided</I>, <I>however</I>, that the
failure of Citigroup to make such request shall not relieve the Company of any obligation or liability hereunder, or affect Citigroup&#146;s right to rely on the representations and warranties made by the Company in this Agreement); (iii) the
Company will not file any amendment or supplement to the Registration Statement or Prospectus, other than documents incorporated by reference, relating to the Placement Securities or a security convertible into the Placement Securities unless a copy
thereof has been submitted to Citigroup within a reasonable period of time before the filing and Citigroup has not reasonably objected thereto (<I>provided</I>, <I>however</I>, that the failure of Citigroup to make such objection shall not relieve
the Company of any obligation or liability hereunder, or affect Citigroup&#146;s right to rely on the representations and warranties made by the Company in this Agreement) and the Company will furnish to Citigroup at the time of filing thereof a
copy of any document that upon filing is deemed to be incorporated by reference into the Registration Statement or Prospectus, except for those documents available via EDGAR; and (iv)&nbsp;the Company will cause each amendment or supplement to the
Prospectus, other than documents incorporated by reference, to be filed with the Commission as required pursuant to the applicable paragraph of Rule 424(b) of the Securities Act (without reliance on Rule 424(b)(8) of the Securities Act). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <I>Notice of Commission Stop Orders</I>. The Company will advise Citigroup, promptly after it receives notice or obtains knowledge
thereof, of the issuance or threatened issuance by the Commission of any stop order suspending the effectiveness of the Registration Statement or of any other order preventing or suspending the use of the Prospectus or any Issuer Free Writing
Prospectus, or of the suspension of the qualification of the Placement Securities for offering or sale in any jurisdiction or of the loss or suspension of any exemption from any such qualification, or of the initiation or threatening of any
proceedings for any of such purposes, or of any examination pursuant to Section&nbsp;8(e) of the Securities Act concerning the Registration Statement or if the Company becomes the subject of a proceeding under Section&nbsp;8A of the Securities Act
in connection with the offering of the Securities. The Company will make every reasonable effort to prevent the issuance of any stop order, the suspension of any qualification of the Securities for offering or sale and any loss or suspension of any
exemption from any such qualification, and if any such stop order is issued or any such suspension or loss occurs, to obtain the lifting thereof at the earliest possible moment. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <I>Delivery of Registration Statement and Prospectus</I>. The Company will furnish to Citigroup and its counsel (at the expense of the
Company) copies of the Registration Statement, the Prospectus (including all documents incorporated by reference therein) and all amendments and supplements to the Registration Statement or Prospectus, and any Issuer Free Writing Prospectuses, that
are filed with the Commission during any period in which a Prospectus relating to the Placement Securities is required to be delivered under the Securities Act (including all documents filed with the Commission during such period that are deemed to
be incorporated by reference therein), in each case as soon as reasonably practicable and in such quantities and at such locations as Citigroup may from time to time reasonably request. The copies of the Registration Statement and the Prospectus and
any supplements or amendments thereto furnished to Citigroup will be identical to the electronically transmitted copies thereof filed with the Commission pursuant to EDGAR, except to the extent permitted by Regulation
<FONT STYLE="white-space:nowrap">S-T.</FONT> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">19 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <I>Continued Compliance with Securities Laws</I>. If at any time when a Prospectus is
required by the Securities Act or the Exchange Act to be delivered in connection with a pending sale of the Placement Securities (including, without limitation, pursuant to Rule 172), any event shall occur or condition shall exist as a result of
which it is necessary, in the opinion of counsel for Citigroup or for the Company, to amend the Registration Statement or amend or supplement the Prospectus in order that the Prospectus will not include any untrue statement of a material fact or
omit to state a material fact necessary in order to make the statements therein not misleading in the light of the circumstances existing at the time it is delivered to a purchaser, or if it shall be necessary, in the opinion of such counsel, at any
such time to amend the Registration Statement or amend or supplement the Prospectus in order to comply with the requirements of the Securities Act, the Company will promptly notify Citigroup to suspend the offering of Placement Securities during
such period and the Company will promptly prepare and file with the Commission such amendment or supplement as may be necessary to correct such statement or omission or to make the Registration Statement or the Prospectus comply with such
requirements, and the Company will furnish to Citigroup such number of copies of such amendment or supplement as Citigroup may reasonably request. If at any time following issuance of an Issuer Free Writing Prospectus there occurred or occurs an
event or development as a result of which such Issuer Free Writing Prospectus conflicted, conflicts or would conflict with the information contained in the Registration Statement or the Prospectus or included, includes or would include an untrue
statement of a material fact or omitted, omits or would omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances, prevailing at that subsequent time, not misleading, the Company will promptly
notify Citigroup to suspend the offering of Placement Securities during such period and the Company will, subject to Section&nbsp;7(a) hereof, promptly amend or supplement such Issuer Free Writing Prospectus to eliminate or correct such conflict,
untrue statement or omission. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) <I>Blue Sky and Other Qualifications</I>. The Company will use its best efforts, in cooperation with
Citigroup, to qualify the Placement Securities for offering and sale, or to obtain an exemption for the Securities to be offered and sold, under the applicable securities laws of such states and other jurisdictions (domestic or foreign) as Citigroup
may designate and to maintain such qualifications and exemptions in effect for so long as required for the distribution of the Securities (but in no event for less than one year from the date of this Agreement); <I>provided</I>, <I>however</I>, that
the Company shall not be obligated to file any general consent to service of process or to qualify as a foreign corporation or as a dealer in securities in any jurisdiction in which it is not so qualified or to subject itself to taxation in respect
of doing business in any jurisdiction in which it is not otherwise so subject. In each jurisdiction in which the Placement Securities have been so qualified or exempt, the Company will file such statements and reports as may be required by the laws
of such jurisdiction to continue such qualification or exemption, as the case may be, in effect for so long as required for the distribution of the Placement Securities (but in no event for less than one year from the date of this Agreement). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) <I>Rule 158</I>. The Company will timely file such reports pursuant to the Exchange Act as are necessary in order to make generally
available to its securityholders as soon as reasonably practicable an earnings statement for the purposes of, and to provide to Citigroup the benefits contemplated by, the last paragraph of Section&nbsp;11(a) of the Securities Act. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">20 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) <I>Use of Proceeds</I>. The Company will use the net proceeds received by it from the sale of
the Securities in the manner specified in the Prospectus under &#147;Use of Proceeds.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) <I>Listing</I>. During any period in
which the Prospectus relating to the Placement Securities is required to be delivered by Citigroup under the Securities Act with respect to a pending sale of the Placement Securities (including in circumstances where such requirement may be
satisfied pursuant to Rule 172 under the Securities Act), the Company will use its commercially reasonable efforts to cause the Placement Securities to be listed on the NYSE. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) <I>Filings with the NYSE</I>. The Company will timely file with the NYSE all material documents and notices required by the NYSE of
companies that have or will issue securities that are traded on the NYSE. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) <I>Reporting Requirements</I>. The Company, during any
period when the Prospectus is required to be delivered under the Securities Act and the Exchange Act (including in circumstances where such requirement may be satisfied pursuant to Rule 172 under the Securities Act), will file all documents required
to be filed with the Commission pursuant to the Exchange Act within the time periods required by the Exchange Act. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k) <I>Notice of Other
Sales</I>. During the pendency of any Placement Notice delivered hereunder (as amended by the corresponding Acceptance, if applicable), the Company will not, without giving Citigroup at least one (1)&nbsp;business day prior written notice specifying
the nature of the proposed sale and the date of such proposed sale , (A) offer, pledge, announce the intention to sell, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right
or warrant for the sale of, lend or otherwise transfer or dispose of, directly or indirectly, any Common Stock or securities convertible into or exchangeable or exercisable for or repayable with Common Stock, or file any registration statement under
the 1933 Act with respect to any of the foregoing (other than a shelf registration statement under Rule 415 under the 1933 Act, a registration statement on Form <FONT STYLE="white-space:nowrap">S-8</FONT> or post-effective amendment to the
Registration Statement) or (B)&nbsp;enter into any swap or other agreement or any transaction that transfers in whole or in part, directly or indirectly, any of the economic consequence of ownership of the Common Stock, or any securities convertible
into or exchangeable or exercisable for or repayable with Common Stock, whether any such swap or transaction described in clause (A)&nbsp;or (B) above is to be settled by delivery of Common Stock or such other securities, in cash or otherwise. The
foregoing sentence shall not apply to (i)&nbsp;the Common Stock to be offered and sold through Citigroup and the Alternative Placement Agents pursuant to this Agreement and the Alternative Equity Distribution Agreements, (ii)&nbsp;any shares of
Common Stock issued by the Company upon the exercise of an option or warrant or the conversion, redemption or exchange of a security outstanding at the time such Placement Notice is delivered, including Common Stock issuable upon exchange of
operating partnership units of any operating partnership subsidiary of the Company (&#147;OP Units&#148;), (iii) any issuances of OP Units, (iv)&nbsp;Common Stock issuable pursuant to the Company&#146;s direct dividend reinvestment plan as it may be
amended or replaced from time to time, and (v)&nbsp;equity incentive awards approved by the Board or the compensation committee thereof or the issuance of Common Stock upon exercise thereof. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">21 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(l) <I>Change of Circumstances</I>. The Company will, at any time during a fiscal quarter in
which the Company intends to tender a Placement Notice or sell Placement Securities, advise Citigroup promptly after it shall have received notice or obtained knowledge thereof, of any information or fact that would alter or affect in any material
respect any opinion, certificate, letter or other document provided to Citigroup pursuant to this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(m) <I>Due Diligence
Cooperation</I>. The Company will cooperate with any reasonable due diligence review conducted by Citigroup or its agents in connection with the transactions contemplated hereby, including, without limitation, providing information and making
available documents and senior officers, during regular business hours and at the Company&#146;s principal offices, as Citigroup may reasonably request. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(n) <I>Representation Dates; Certificate</I>. On or prior to the date that the first Securities are sold pursuant to the terms of this
Agreement and: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) each time the Company: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) files the Prospectus relating to the Placement Securities or amends or supplements the Registration Statement or the
Prospectus relating to the Placement Securities by means of a post-effective amendment, sticker, or supplement but not by means of incorporation of documents by reference into the Registration Statement or the Prospectus relating to the Placement
Securities; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) files an annual report on Form <FONT STYLE="white-space:nowrap">10-K</FONT> under the Exchange Act; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) files a quarterly report on Form <FONT STYLE="white-space:nowrap">10-Q</FONT> under the Exchange Act; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) files a report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> containing amended financial information (other than an
earnings release, to &#147;furnish&#148; information pursuant to Items 2.02 or 7.01 of Form <FONT STYLE="white-space:nowrap">8-K)</FONT> under the Exchange Act; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) at any other time reasonably requested by Citigroup (each such date of filing of one or more of the documents referred to
in clauses (1)(i) through (iv)&nbsp;and any time of request pursuant to this Section&nbsp;7(n) shall be a &#147;<U>Representation Date</U>&#148;), </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">the Company shall furnish Citigroup with a certificate, in the form attached hereto as <U>Exhibit F</U> within two (2)&nbsp;Trading Days of
any Representation Date. Except as otherwise notified by Citigroup with respect to a Representation Date on which the Company files its Form <FONT STYLE="white-space:nowrap">10-K,</FONT> the requirement to provide a certificate under this
Section&nbsp;7(n) shall be waived for any Representation Date occurring at a time at which no Placement Notice (as amended by the corresponding Acceptance, if applicable) is pending, which waiver shall continue until the earlier to occur of the date
the Company delivers a Placement Notice hereunder (which for such calendar quarter shall be considered a Representation Date) and the next occurring Representation Date. Notwithstanding the foregoing, if the Company subsequently decides to sell
Placement Securities following a Representation Date when the Company relied on such waiver and did not provide Citigroup with a certificate under this Section&nbsp;7(n), then before the Company delivers the Placement Notice or Citigroup sells any
Placement Securities, the Company shall provide Citigroup with a certificate, in the form attached hereto as <U>Exhibit F</U>, dated the date of the Placement Notice. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">22 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(o) <I>Legal Opinions.</I> On or prior to the date that the first Securities are sold pursuant to
the terms of this Agreement, within two (2)&nbsp;Trading Days of each Representation Date with respect to which the Company is obligated to deliver a certificate in the form attached hereto as <U>Exhibit F</U> for which no waiver is applicable, the
Company shall cause to be furnished to Citigroup written opinions of Hogan Lovells US LLP (&#147;<U>Company Counsel</U>&#148;), or other counsel satisfactory to Citigroup, in form and substance satisfactory to Citigroup and its counsel, dated the
date that the opinions are required to be delivered, substantially similar to the forms attached hereto as <U>Exhibit E</U>, modified, as necessary, to relate to the Registration Statement and the Prospectus as then amended or supplemented;
<I>provided</I>, <I>however</I>, that in lieu of such opinions for subsequent Representation Dates, counsel may furnish Citigroup with a letter (a &#147;<U>Reliance Letter</U>&#148;) to the effect that Citigroup may rely on a prior opinion delivered
under this Section&nbsp;7(o) to the same extent as if it were dated the date of such letter (except that statements in such prior opinion shall be deemed to relate to the Registration Statement and the Prospectus as amended or supplemented at such
Representation Date). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(p) <I>Comfort Letter</I>. On or prior to the date that the first Securities are sold pursuant to the terms of this
Agreement, within two (2)&nbsp;Trading Days of each Representation Date with respect to which the Company is obligated to deliver a certificate substantially in the form attached hereto as <U>Exhibit F</U> for which no waiver is applicable, the
Company shall cause its independent accountants (and any other independent accountants whose report is included in the Registration Statement or the Prospectus) to furnish Citigroup letters (the &#147;<U>Comfort Letters</U>&#148;), dated the date of
the Comfort Letter is delivered, in form and substance satisfactory to Citigroup, (i)&nbsp;confirming that they are an independent registered public accounting firm within the meaning of the Securities Act, the Exchange Act and the PCAOB,
(ii)&nbsp;stating, as of such date, the conclusions and findings of such firm with respect to the financial information and other matters ordinarily covered by accountants&#146; &#147;comfort letters&#148; to underwriters in connection with
registered public offerings (the first such letter, the &#147;<U>Initial Comfort Letter</U>&#148;) and (iii)&nbsp;updating the Initial Comfort Letter with any information that would have been included in the Initial Comfort Letter had it been given
on such date and modified as necessary to relate to the Registration Statement and the Prospectus, as amended and supplemented to the date of such letter. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(q) <I>Market Activities</I>. The Company will not, directly or indirectly, (i)&nbsp;take any action designed to cause or result in, or that
constitutes or might reasonably be expected to constitute, the stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Securities or (ii)&nbsp;sell, bid for, or purchase the Securities to be
issued and sold pursuant to this Agreement, or pay anyone any compensation for soliciting purchases of the Securities to be issued and sold pursuant to this Agreement other than Citigroup; <I>provided</I>, <I>however</I>, that the Company may bid
for and purchase its Common Stock in accordance with Rule <FONT STYLE="white-space:nowrap">10b-18</FONT> under the Exchange Act; and provided further, that no such bids or purchases shall be made by the Company during the two (2)&nbsp;Trading Days
before or after any sale of any Securities pursuant to this Agreement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">23 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(r) <I>Insurance</I>. The Company and its subsidiaries shall maintain, or caused to be
maintained, insurance in such amounts and covering such risks as is reasonable and customary for companies engaged in similar businesses in similar industries, except where the failure to maintain such insurance would not have a Material Adverse
Effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(s) <I>Compliance with Laws</I>. The Company and each of its subsidiaries shall maintain, or cause to be maintained, all material
environmental permits, licenses and other authorizations required by federal, state and local law in order to conduct their businesses as described in the Prospectus, and the Company and each of its subsidiaries shall conduct their businesses, or
cause their businesses to be conducted, in substantial compliance with such permits, licenses and authorizations and with applicable environmental laws, except where the failure to maintain or be in compliance with such permits, licenses and
authorizations could not reasonably be expected to have a Material Adverse Effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(t) <I>Investment Company Act</I>. The Company will
conduct its affairs in such a manner so as to reasonably ensure that neither it nor its subsidiaries will be or become, at any time prior to the termination of this Agreement, an &#147;investment company,&#148; as such term is defined in the
Investment Company Act, assuming no change in the Commission&#146;s current interpretation as to entities that are not considered an investment company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(u) <I>Securities Act and Exchange Act</I>. The Company will use its best efforts to comply with all requirements imposed upon it by the
Securities Act and the Exchange Act as from time to time in force, so far as necessary to permit the continuance of sales of, or dealings in, the Placement Securities as contemplated by the provisions hereof and the Prospectus. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) <I>No Offer to Sell</I>. Other than a free writing prospectus (as defined in Rule 405 under the Securities Act) approved in advance in
writing by the Company and the Agents in their respective capacities as a principal or agent hereunder or under the Alternative Equity Distribution Agreements, the Company (including its agents and representatives, other than the Agents in their
respective capacities as such) will not, directly or indirectly, make, use, prepare, authorize, approve or refer to any free writing prospectus relating to the Securities to be sold by the Agents as principal or agent hereunder or under an
Alternative Equity Distribution Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(w) <I>Sarbanes-Oxley Act</I>. The Company and its subsidiaries will use their best efforts to
comply with all effective applicable provisions of the Sarbanes-Oxley Act of 2002. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(x) <I>Regulation M</I>. If the Company has reason to
believe that the exemptive provisions set forth in Rule 101(c)(1) of Regulation M under the Exchange Act are not satisfied with respect to the Company or the Common Stock, it shall promptly notify Citigroup and sales of the Placement Securities
under this Agreement shall be suspended until that or other exemptive provisions have been satisfied in the judgment of each party. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(y)
<I>REIT Treatment</I>. The Company currently intends to continue to elect to qualify as a REIT under the Code and will use its best efforts to enable the Company to continue to meet the requirements for qualification and taxation as a REIT under the
Code for subsequent tax years that include any portion of the term of this Agreement; unless the Company&#146;s Board in good faith determines by resolution that it is in the best interests of the Company&#146;s stockholders not to meet such
requirements. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">24 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 8. <U>Payment of Expenses</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Expenses</I>. The Company will pay all expenses incident to the performance of its obligations under this Agreement, including
(i)&nbsp;the preparation, printing and filing of the Registration Statement (including financial statements and exhibits) as originally filed and of each amendment and supplement thereto, (ii)&nbsp;the word processing, printing and delivery to
Citigroup of this Agreement and such other documents as may be required in connection with the offering, purchase, sale, issuance or delivery of the Placement Securities, (iii)&nbsp;the preparation, issuance and delivery of the certificates for the
Placement Securities to Citigroup, including any stock or other transfer taxes and any capital duties, stamp duties or other duties or taxes payable upon the sale, issuance or delivery of the Placement Securities to Citigroup, (iv)&nbsp;the fees and
disbursements of the counsel, accountants and other advisors to the Company, (v)&nbsp;the qualification or exemption of the Placement Securities under securities laws in accordance with the provisions of Section&nbsp;7(e) hereof, including filing
fees and the reasonable fees and disbursements of counsel for Citigroup in connection therewith and in connection with the preparation of the Blue Sky Survey and any supplements thereto (not to exceed $10,000), (vi) the printing and delivery to
Citigroup of copies of any permitted Free Writing Prospectus and the Prospectus and any amendments or supplements thereto and any costs associated with electronic delivery of any of the foregoing by Citigroup to investors, (vii)&nbsp;the
preparation, printing and delivery to Citigroup of copies of the Blue Sky Survey and any Canadian &#147;wrapper&#148; and any supplements thereto, (viii)&nbsp;the fees and expenses of the custodian and the transfer agent and registrar for the
Securities, (ix)&nbsp;the filing fees incident to, and the reasonable fees and disbursements of counsel to Citigroup in connection with, any review by FINRA of the terms of the sale of the Securities, (x)&nbsp;the fees and expenses incurred in
connection with the listing of the Placement Securities on the NYSE, and (xi)&nbsp;if Securities having an aggregate offering price of $25,000,000 or more have not been offered and sold under this Agreement and the Alternative Equity Distribution
Agreements by the eighteen month anniversary of the date of this Agreement (or such earlier date at which the Company terminates this Agreement) (the &#147;<U>Determination Date</U>&#148;), the Company shall reimburse Citigroup and the Alternative
Placement Agents for all of their reasonable <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">out-of-pocket</FONT></FONT> expenses, including the reasonable fees and disbursements of counsel for Citigroup and the Alternative
Placement Agents incurred by Citigroup and the Alternative Placement Agents in connection with the transactions contemplated by this Agreement (the &#147;<U>Expenses</U>&#148;); provided that the Company shall not be obligated to reimburse any such
Expenses pursuant to this Agreement and pursuant to the Alternative Equity Distribution Agreements in excess of $150,000 in the aggregate (and such $150,000 limit shall be reduced pro rata for any portion of such $25,000,000 of Securities actually
sold pursuant to this Agreement and the Alternative Distribution Agreements during such eighteen-month period (i.e., if, for example $6,250,000 of Securities are sold, such limit shall be $112,500; if, for example, $12,500,000 of Securities are
sold, such limit shall be $75,000; and if, for example, $18,750,000 of Securities are sold, such limit shall be $37,500)). The Expenses shall be due and payable by the Company to Citigroup and the Alternative Placement Agents within five
(5)&nbsp;business days of the Determination Date. The Agents shall be solely responsible for allocating any reimbursement pursuant to this subsection among themselves. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">25 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <I>Termination of Agreement</I>. If this Agreement is terminated by Citigroup in accordance
with the provisions of Section&nbsp;9(m) or Section&nbsp;13(a)(i) hereof, the Company shall reimburse Citigroup for all of their out of pocket expenses, including the reasonable fees and disbursements of counsel for Citigroup, unless Securities
having an aggregate offering price of $25,000,000 or more have previously been offered and sold under this Agreement and/or the Alternative Distribution Agreements. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 9. <U>Conditions of Citigroup</U><U>&#146;</U><U>s Obligations</U>. The obligations of Citigroup hereunder with respect to a Placement
will be subject to the continuing accuracy and completeness of the representations and warranties of the Company contained in this Agreement and in certificates of any officer of the Company or any subsidiary of the Company delivered pursuant to the
provisions hereof, to the performance by the Company of its covenants and other obligations hereunder, and to the following further conditions: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Effectiveness of Registration Statement</I>. The Registration Statement and any Rule 462(b) Registration Statement shall have become
effective and shall be available for (i)&nbsp;all sales of Placement Securities issued pursuant to all prior Placement Notices (each as amended by a corresponding Acceptance, if applicable) and (ii)&nbsp;the sale of all Placement Securities
contemplated to be issued by any Placement Notice (each as amended by a corresponding Acceptance, if applicable). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <I>No Material
Notices</I>. None of the following events shall have occurred and be continuing: (i)&nbsp;receipt by the Company or any of its subsidiaries of any request for additional information from the Commission or any other federal or state governmental
authority during the period of effectiveness of the Registration Statement, the response to which would require any post-effective amendments or supplements to the Registration Statement or the Prospectus; (ii)&nbsp;the issuance by the Commission or
any other federal or state governmental authority of any stop order suspending the effectiveness of the Registration Statement or the initiation of any proceedings for that purpose; (iii)&nbsp;receipt by the Company of any notification with respect
to the suspension of the qualification or exemption from qualification of any of the Placement Securities for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; or (iv)&nbsp;the occurrence of any event that
makes any material statement made in the Registration Statement or the Prospectus, or any Issuer Free Writing Prospectus, or any material document incorporated or deemed to be incorporated therein by reference untrue in any material respect or that
requires the making of any changes in the Registration Statement, related Prospectus, or any Issuer Free Writing Prospectus, or such documents so that, in the case of the Registration Statement, it will not contain any materially untrue statement of
a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading and, that in the case of the Prospectus and any Issuer Free Writing Prospectus, it will not contain any
materially untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <I>No Material Misstatement or Omission</I>. Citigroup shall not have advised the Company that the Registration Statement or Prospectus,
or any Issuer Free Writing Prospectus, or any amendment or supplement thereto, contains an untrue statement of fact that in Citigroup&#146;s reasonable opinion is material, or omits to state a fact that in Citigroup&#146;s opinion is material and is
required to be stated therein or is necessary to make the statements therein not misleading. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">26 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <I>Material Changes</I>. Except as contemplated in the Prospectus, or disclosed in the
Company&#146;s reports filed with the Commission, there shall not have been any material adverse change in the condition, financial or otherwise, or in the results of operations, business affairs or business prospects of the Company and its
subsidiaries considered as one enterprise, whether or not arising in the ordinary course of business. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) <I>Opinions of Counsel for
Company</I>. Citigroup shall have received the favorable opinions of Company Counsel, required to be delivered pursuant to Section&nbsp;7(o) on or before the date on which such delivery of such opinions is required pursuant to Section&nbsp;7(o).
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) <I>Representation Certificate</I>. Citigroup shall have received the certificate required to be delivered pursuant to
Section&nbsp;7(n) on or before the date on which delivery of such certificate is required pursuant to Section&nbsp;7(n). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g)
<I>Accountant&#146;s Comfort Letter</I>. Citigroup shall have received the Comfort Letter required to be delivered pursuant Section&nbsp;7(p) on or before the date on which such delivery of such opinion is required pursuant to Section&nbsp;7(p).
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) <I>Opinion of Counsel for Citigroup</I>. On or prior to the date that the first Securities are sold pursuant to the terms of this
Agreement, within two (2)&nbsp;Trading Days of each Representation Date with respect to which the Company is obligated to deliver a certificate in the form attached hereto as <U>Exhibit F</U> for which no waiver is applicable, Citigroup shall have
received the favorable written opinion or opinions of Goodwin Procter LLP, counsel for Citigroup, dated such date, with respect to such matters as Citigroup may reasonably request. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) <I>Approval for Listing</I>. The Placement Securities shall either have been (i)&nbsp;approved for listing on NYSE, subject only to notice
of issuance, or (ii)&nbsp;the Company shall have filed an application for listing of the Placement Securities on NYSE at, or prior to, the issuance of any Placement Notice. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) <I>No Suspension</I>. Trading in the Securities shall not have been suspended on the NYSE. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k) <I>Additional Documents</I>. On each date on which the Company is required to deliver a certificate pursuant to Section&nbsp;7(n), counsel
for Citigroup shall have been furnished with such documents and opinions as they may reasonably require for the purpose of enabling them to pass upon the issuance and sale of the Securities as herein contemplated, or in order to evidence the
accuracy of any of the representations or warranties, or the fulfillment of any of the conditions, contained in this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(l)
<I>Securities Act Filings Made</I>. All filings with the Commission required by Rule 424 under the Securities Act to have been filed prior to the issuance of any Placement Notice hereunder shall have been made within the applicable time period
prescribed for such filing by Rule 424. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">27 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(m) <I>Termination of Agreement</I>. If any condition specified in this Section&nbsp;9 shall not
have been fulfilled when and as required to be fulfilled, this Agreement may be terminated by Citigroup by notice to the Company, and such termination shall be without liability of any party to any other party except as provided in Section&nbsp;8
hereof and except that, in the case of any termination of this Agreement, Sections&nbsp;5, 10, 11, 12 and 22 hereof shall survive such termination and remain in full force and effect. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 10. <U>Indemnification</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Indemnification by the Company</I>. The Company agrees to indemnify and hold harmless Citigroup, its affiliates (as such term is
defined in Rule 501(b) of the Securities Act), and each person, if any, who controls Citigroup within the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) against any and all loss, liability, claim, damage and expense whatsoever, as incurred, arising out of any untrue statement
or alleged untrue statement of a material fact contained in the Registration Statement (or any amendment thereto), including any information deemed to be a part thereof pursuant to Rule 430B, or the omission or alleged omission therefrom of a
material fact required to be stated therein or necessary to make the statements therein not misleading, or arising out of any untrue statement or alleged untrue statement of a material fact included (A)&nbsp;in any Issuer Free Writing Prospectus or
the Prospectus (or any amendment or supplement thereto) or (B)&nbsp;in any materials or information provided to investors by, or with the approval of, the Company in connection with the marketing of any offering of Securities (&#147;<U>Marketing
Materials&#148;)</U>, including any roadshow or investor presentations made to investors by the Company (whether in person or electronically), or the omission or alleged omission therefrom of a material fact necessary in order to make the statements
therein, in the light of the circumstances under which they were made, not misleading; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) against any and all loss,
liability, claim, damage and expense whatsoever, as incurred, to the extent of the aggregate amount paid in settlement of any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or of any claim
whatsoever based upon any such untrue statement or omission, or any such alleged untrue statement or omission; provided that (subject to Section&nbsp;10(d) below) any such settlement is effected with the written consent of the Company; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) against any and all expense whatsoever, as incurred (including the fees and disbursements of counsel chosen by
Citigroup), reasonably incurred in investigating, preparing or defending against any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or any claim whatsoever based upon any such untrue
statement or omission, or any such alleged untrue statement or omission, to the extent that any such expense is not paid under (i)&nbsp;or (ii) above, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">28 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>provided</I>, <I>however</I>, that this indemnity agreement shall not apply to any loss, liability, claim,
damage or expense to the extent arising out of any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with information furnished to the Company in writing by Citigroup expressly for use
therein, it being understood and agreed that the only such information furnished by Citigroup as of the date hereof consists of the Agent Information. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <I>Indemnification by Citigroup</I>. Citigroup agrees to indemnify and hold harmless the Company, its trustees, each of its officers who
signed the Registration Statement, and each person, if any, who controls the Company within the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act against any and all loss, liability, claim, damage and expense
described in the indemnity contained in subsection (a)&nbsp;of this Section&nbsp;10, as incurred, but only with respect to untrue statements or omissions, or alleged untrue statements or omissions, made in the Registration Statement (or any
amendment thereto), any Issuer Free Writing Prospectus or the Prospectus (or any amendment or supplement thereto) in reliance upon and in conformity with information furnished to the Company in writing by Citigroup expressly for use therein, it
being understood and agreed that the only such information furnished by Citigroup as of the date hereof consists of the Agent Information. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <I>Actions against Parties; Notification</I>. Each indemnified party shall give notice as promptly as reasonably practicable to each
indemnifying party of any action commenced against it in respect of which indemnity may be sought hereunder, but failure to so notify an indemnifying party shall not relieve such indemnifying party from any liability hereunder to the extent it is
not materially prejudiced as a result thereof and in any event shall not relieve it from any liability which it may have otherwise than on account of this indemnity agreement. Counsel to the indemnified parties shall be selected as follows: counsel
to Citigroup and each person, if any, who controls Citigroup within the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act shall be selected by Citigroup; and counsel to the Company, its trustees, each of its
officers who signed the Registration Statement and each person, if any, who controls the Company within the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act shall be selected by the Company. An indemnifying
party may participate at its own expense in the defense of any such action; <I>provided</I>, <I>however</I>, that counsel to the indemnifying party shall not (except with the consent of the indemnified party) also be counsel to the indemnified
party. In no event shall the indemnifying parties be liable for the fees and expenses of more than one counsel (in addition to any local counsel) separate from their own counsel for Citigroup and each person, if any, who controls Citigroup within
the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act, and the fees and expenses of more than one counsel (in addition to any local counsel) separate from their own counsel for the Company, its trustees, each of
its officers who signed the Registration Statement and each person, if any, who controls the Company within the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act, in each case in connection with any one action
or separate but similar or related actions in the same jurisdiction arising out of the same general allegations or circumstances. No indemnifying party shall, without the prior written consent of the indemnified parties, settle or compromise or
consent to the entry of any judgment with respect to any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or any claim whatsoever in respect of which indemnification or contribution could be
sought under this Section&nbsp;10 or Section&nbsp;11 hereof (whether or not the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">29 </P>


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indemnified parties are actual or potential parties thereto), unless such settlement, compromise or consent (i)&nbsp;includes an unconditional release of each indemnified party from all liability
arising out of such litigation, investigation, proceeding or claim and (ii)&nbsp;does not include a statement as to or an admission of fault, culpability or a failure to act by or on behalf of any indemnified party. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <I>Settlement Without Consent if Failure to Reimburse</I>. If at any time an indemnified party shall have requested an indemnifying party
to reimburse the indemnified party for fees and expenses of counsel, such indemnifying party agrees that it shall be liable for any settlement of the nature contemplated by Section&nbsp;10(a)(ii) effected without its written consent if (i)&nbsp;such
settlement is entered into more than 45 days after receipt by such indemnifying party of the aforesaid request, (ii)&nbsp;such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement
being entered into and (iii)&nbsp;such indemnifying party shall not have reimbursed such indemnified party in accordance with such request prior to the date of such settlement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 11. <U>Contribution</U>. If the indemnification provided for in Section&nbsp;10 hereof is for any reason unavailable to or
insufficient to hold harmless an indemnified party in respect of any losses, liabilities, claims, damages or expenses referred to therein, then each indemnifying party shall contribute to the aggregate amount of such losses, liabilities, claims,
damages and expenses incurred by such indemnified party, as incurred, (i)&nbsp;in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and Citigroup on the other hand from the offering of the
Securities pursuant to this Agreement or (ii)&nbsp;if the allocation provided by clause (i)&nbsp;is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i)&nbsp;above
but also the relative fault of the Company on the one hand and of Citigroup on the other hand in connection with the statements or omissions. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The relative benefits received by the Company on the one hand and Citigroup on the other hand in connection with the offering of the
Securities pursuant to this Agreement shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Securities pursuant to this Agreement (before deducting expenses) received by the Company and the total
commissions received by Citigroup, in each case as set forth on the cover of the Prospectus, bear to the aggregate public offering price of the Securities as set forth on such cover. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The relative fault of the Company on the one hand and Citigroup on the other hand shall be determined by reference to, among other things,
whether the untrue or the alleged untrue statement of a material fact or omission or alleged omission to state a material fact relates to information supplied by the Company or by Citigroup and the parties&#146; relative intent, knowledge, access to
information and opportunity to correct or prevent such statement or omission. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company and Citigroup agree that it would not be just
and equitable if contribution pursuant to this Section&nbsp;11 were determined by pro rata allocation or by any other method of allocation which does not take account of the equitable considerations referred to above in this Section&nbsp;11. The
aggregate amount of losses, liabilities, claims, damages and expenses incurred </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">30 </P>


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by an indemnified party and referred to above in this Section&nbsp;11 shall be deemed to include any legal or other expenses reasonably incurred by such indemnified party in investigating,
preparing or defending against any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or any claim whatsoever based upon any such untrue or alleged untrue statement or omission or alleged
omission. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Notwithstanding the provisions of this Section&nbsp;11, Citigroup shall not be required to contribute any amount in excess of
the amount by which the total price at which the Securities underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages which Citigroup has otherwise been required to pay by reason of any such untrue
or alleged untrue statement or omission or alleged omission. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">No person guilty of fraudulent misrepresentation (within the meaning of
Section&nbsp;11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">For purposes of this Section&nbsp;11, each person, if any, who controls Citigroup within the meaning of Section&nbsp;15 of the Securities Act
or Section&nbsp;20 of the Exchange Act shall have the same rights to contribution as Citigroup, and each trustee of the Company, each officer of the Company who signed the Registration Statement, and each person, if any, who controls the Company
within the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act shall have the same rights to contribution as the Company. The Alternative Placement Agents&#146; respective obligations to contribute pursuant to
this Section&nbsp;11 are several in proportion to the number of Securities placed or underwritten by it in the applicable offering.<U> </U> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 12. <U>Representations, Warranties and Agreements to Survive Delivery</U>. All representations, warranties and agreements contained in
this Agreement or in certificates of officers of the Company or any of its subsidiaries submitted pursuant hereto, shall remain operative and in full force and effect, regardless of any investigation made by or on behalf of Citigroup or controlling
person, or by or on behalf of the Company, and shall survive delivery of the Securities to Citigroup. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 13. <U>Termination of
Agreement</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Termination; General</I>. Citigroup may terminate this Agreement, by notice to the Company, as hereinafter
specified at any time (i)&nbsp;if there has been, since the time of execution of this Agreement or since the date as of which information is given in the Prospectus, any material adverse change in the condition, financial or otherwise, or in the
results of operations, business affairs or business prospects of the Company and its subsidiaries considered as one enterprise, whether or not arising in the ordinary course of business, or (ii)&nbsp;if there has occurred any material adverse change
in the financial markets in the United States or the international financial markets, any outbreak of hostilities or escalation thereof or other calamity or crisis or any change or development involving a prospective change in national or
international political, financial or economic conditions, in each case the effect of which is such as to make it, in the judgment of Citigroup, impracticable or inadvisable to market the Securities or to enforce contracts for the sale of the
Securities, or (iii)&nbsp;if trading in the Placement Securities has been suspended or limited </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">31 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
by the Commission or the NYSE, or if trading generally on the NYSE American, the NYSE or the Nasdaq Stock Market has been suspended or limited, or minimum or maximum prices for trading have been
fixed, or maximum ranges for prices have been required, by any of said exchanges or by order of the Commission, the FINRA or any other governmental authority, or a material disruption has occurred in commercial banking or securities settlement or
clearance services in the United States or in Europe, or (iv)&nbsp;if a banking moratorium has been declared by either Federal or New York authorities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <I>Termination by the Company</I>. The Company shall have the right, by giving three (3)&nbsp;days&#146; notice as hereinafter specified
to terminate this Agreement in their sole discretion at any time after the date of this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <I>Termination by Citigroup</I>.
Citigroup shall have the right, by giving three (3)&nbsp;days&#146; notice as hereinafter specified to terminate this Agreement in its sole discretion at any time after the date of this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <I>Automatic Termination</I>. Unless earlier terminated pursuant to this Section&nbsp;13, this Agreement shall automatically terminate
upon the issuance and sale of all of the Placement Securities through Citigroup and the Alternative Placement Agents on the terms and subject to the conditions set forth herein and in the Alternative Equity Distribution Agreements with an aggregate
sale price equal to the amount set forth in Section&nbsp;1 of this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) <I>Continued Force and Effect</I>. This Agreement shall
remain in full force and effect unless terminated pursuant to Sections&nbsp;13(a), (b), (c) or (d)&nbsp;above or otherwise by mutual agreement of the parties. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) <I>Effectiveness of Termination</I>. Any termination of this Agreement shall be effective on the date specified in such notice of
termination; <I>provided</I>, <I>however</I>, that such termination shall not be effective until the close of business on the date of receipt of such notice by Citigroup or the Company, as the case may be. If such termination shall occur prior to
the Settlement Date for any sale of Placement Securities, such Placement Securities shall settle in accordance with the provisions of this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) <I>Liabilities</I>. If this Agreement is terminated pursuant to this Section&nbsp;13, such termination shall be without liability of any
party to any other party except as provided in Section&nbsp;8 hereof, and except that, in the case of any termination of this Agreement, Section&nbsp;5, Section&nbsp;10, Section&nbsp;11, Section&nbsp;12, and Section&nbsp;22 hereof shall survive such
termination and remain in full force and effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 14. <U>Notices</U>. Except as otherwise provided in this Agreement, all notices
and other communications hereunder shall be in writing and shall be deemed to have been duly given if mailed or transmitted by any standard form of telecommunication. Notices to Citigroup shall be directed to Citigroup at Citigroup Global Markets
Inc., 388 Greenwich Street, New York, New York 10013 (fax no. <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">646-291-1469),</FONT></FONT> Attention: General Counsel; notices to the Company shall be directed to it at 1775 Eye
Street NW, Suite 1000, Washington, D.C. 20006, fax no. (212) <FONT STYLE="white-space:nowrap">379-3554,</FONT> Attention of Stephen E. Riffee, Chief Financial Officer, cc: Taryn D. Fielder, General Counsel. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">32 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 15. <U>Parties</U>. This Agreement shall inure to the benefit of and be binding upon
Citigroup, the Company and their respective successors. Nothing expressed or mentioned in this Agreement is intended or shall be construed to give any person, firm or corporation, other than Citigroup, the Company and their respective successors and
the controlling persons and officers and trustees referred to in Sections&nbsp;10 and 11 and their heirs and legal representatives, any legal or equitable right, remedy or claim under or in respect of this Agreement or any provision herein
contained. This Agreement and all conditions and provisions hereof are intended to be for the sole and exclusive benefit of Citigroup, the Company and their respective successors, and said controlling persons and officers and trustees and their
heirs and legal representatives, and for the benefit of no other person, firm or corporation. No purchaser of Securities from Citigroup shall be deemed to be a successor by reason merely of such purchase. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 16. <U>Adjustments for Stock Splits</U>. The parties acknowledge and agree that all stock-related numbers contained in this Agreement
shall be adjusted to take into account any stock split, stock dividend or similar event effected with respect to the Securities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION
17. <U>Governing Law; Time and Jurisdiction</U>. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. <B></B>SPECIFIED TIMES OF DAY REFER TO NEW YORK CITY TIME. Any action, suit or proceeding to
enforce any provision of, or based on any matter arising out of or in connection with, this Agreement or the transactions contemplated hereby shall be brought in any federal court located in the Southern District of the State of New York or any New
York state court located in the Borough of Manhattan, and the Company agrees to the exclusive jurisdiction of such courts (and of the appropriate appellate courts therefrom) and each party waives (to the full extent permitted by law) any objection
it may have to the laying of venue of any such suit, action or proceeding in any such court or that any such suit, action or proceeding has been brought in an inconvenient forum. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 18. <U>Effect of Headings</U>. The Section and Exhibit headings herein are for convenience only and shall not affect the construction
hereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 19. <U>Counterparts</U>. This Agreement may be executed in two or more counterparts, each of which shall be deemed an
original, but all of which together shall constitute one and the same instrument. Delivery of an executed Agreement by one party to the other may be made by facsimile or <FONT STYLE="white-space:nowrap">e-mail</FONT> transmission. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 20. <U>Definitions</U>. As used in this Agreement, the following terms have the respective meanings set forth below: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Applicable Time</U>&#148; means the time of each sale of any Securities or any securities pursuant to this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Commission</U>&#148; means the Securities and Exchange Commission. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">33 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>EDGAR</U>&#148; means the Commission&#146;s Electronic Data Gathering, Analysis and
Retrieval system. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Exchange Act</U>&#148; means the Securities Exchange Act of 1934, as amended, and the rules and regulations of
the Commission thereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>FINRA</U>&#148; means the Financial Industry Regulatory Authority, Inc. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>GAAP</U>&#148; means generally accepted accounting principles. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Investment Company Act</U>&#148; means the Investment Company Act of 1940, as amended. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Issuer Free Writing Prospectus</U>&#148; means any &#147;issuer free writing prospectus,&#148; as defined in Rule 433, relating to
the Securities that (i)&nbsp;is required to be filed with the Commission by the Company, (ii)&nbsp;is a &#147;road show&#148; that is a &#147;written communication&#148; within the meaning of Rule 433(d)(8)(i) whether or not required to be filed
with the Commission, or (iii)&nbsp;is exempt from filing pursuant to Rule 433(d)(5)(i) because it contains a description of the Securities or of the offering that does not reflect the final terms, and all free writing prospectuses that are listed in
<U>Exhibit G</U> hereto, in each case in the form furnished (electronically or otherwise) to Citigroup for use in connection with the offering of the Securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>NYSE</U>&#148; means the New York Stock Exchange. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Rule 163</U>,&#148; &#147;<U>Rule 164</U>,&#148; &#147;<U>Rule 172</U>,&#148; &#147;<U>Rule 405</U>,&#148; &#147;<U>Rule
415</U>,&#148; &#147;<U>Rule 424(b)</U>,&#148; &#147;<U>Rule 430B</U>,&#148; &#147;<U>Rule 433</U>&#148; and &#147;<U>Rule 462(b)</U>&#148; refer to such rules under the Securities Act. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Rule 462(b) Registration Statement</U>&#148; means a registration statement filed by the Company pursuant to Rule 462(b) for the
purpose of registering any of the Securities under the Securities Act, including the documents incorporated by reference therein and the Rule 430A Information. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Sarbanes-Oxley Act</U>&#148; means the Sarbanes-Oxley Act of 2002 and the rules and regulations promulgated thereunder or
implementing the provisions thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Securities Act</U>&#148; means the Securities Act of 1933, as amended, and the rules and
regulations of the Commission thereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">All references in this Agreement to financial statements and schedules and other information
that is &#147;contained,&#148; &#147;included&#148; or &#147;stated&#148; in the Registration Statement or the Prospectus (and all other references of like import) shall be deemed to mean and include all such financial statements and schedules and
other information that is incorporated by reference in the Registration Statement or the Prospectus, as the case may be. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">All references
in this Agreement to the Registration Statement, any Rule 462(b) Registration Statement, the Prospectus or any amendment or supplement to any of the foregoing shall be deemed to include the copy filed with the Commission pursuant to EDGAR; all
references in this Agreement to any Issuer Free Writing Prospectus (other than any Issuer Free Writing Prospectuses that, pursuant to Rule 433, are not required to be filed with the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">34 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Commission) shall be deemed to include the copy thereof filed with the Commission pursuant to EDGAR; and all references in this Agreement to &#147;supplements&#148; to the Prospectus shall
include, without limitation, any supplements, &#147;wrappers&#148; or similar materials prepared in connection with any offering, sale or private placement of any Placement Securities by Citigroup outside of the United States. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 21. <U>Permitted Free Writing Prospectuses</U>. The Company represents, warrants and agrees that, unless it obtains the prior consent
of Citigroup, and Citigroup represents, warrants and agrees that, unless it obtains the prior consent of the Company, it has not made and will not make any offer relating to the Securities that would constitute an Issuer Free Writing Prospectus, or
that would otherwise constitute a &#147;free writing prospectus,&#148; as defined in Rule 405, required to be filed with the Commission. Any such free writing prospectus consented to by Citigroup or by the Company, as the case may be, is hereinafter
referred to as a &#147;Permitted Free Writing Prospectus.&#148; The Company represents and warrants that it has treated and agrees that it will treat each Permitted Free Writing Prospectus as an &#147;issuer free writing prospectus,&#148; as defined
in Rule 433, and has complied and will comply with the requirements of Rule 433 applicable to any Permitted Free Writing Prospectus, including timely filing with the Commission where required, legending and record keeping. For the purposes of
clarity, the parties hereto agree that all free writing prospectuses, if any, listed in <U>Exhibit G</U> hereto are Permitted Free Writing Prospectuses. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 22. <U>Absence of Fiduciary Relationship</U>. The Company acknowledges and agrees that: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Citigroup is acting solely as agent and/or principal in connection with the public offering of the Securities and in connection with each
transaction contemplated by this Agreement and the process leading to such transactions, and no fiduciary or advisory relationship between the Company or any of its respective affiliates, stockholders (or other equity holders), creditors or
employees or any other party, on the one hand, and Citigroup, on the other hand, has been or will be created in respect of any of the transactions contemplated by this Agreement, irrespective of whether or not Citigroup has advised or is advising
the Company on other matters, and Citigroup has no obligation to the Company with respect to the transactions contemplated by this Agreement except the obligations expressly set forth in this Agreement; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) any public offering price of the Securities set forth in this Agreement was not established by Citigroup; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) it is capable of evaluating and understanding, and understands and accepts, the terms, risks and conditions of the transactions
contemplated by this Agreement; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Citigroup has not provided any legal, accounting, regulatory or tax advice with respect to the
transactions contemplated by this Agreement and it has consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">35 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) it is aware that Citigroup and its respective affiliates are engaged in a broad range of
transactions which may involve interests that differ from those of the Company and Citigroup has no obligation to disclose such interests and transactions to the Company by virtue of any fiduciary, advisory or agency relationship or otherwise; and
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) it waives, to the fullest extent permitted by law, any claims it may have against Citigroup for breach of fiduciary duty or alleged
breach of fiduciary duty and agrees that Citigroup shall not have any liability (whether direct or indirect, in contract, tort or otherwise) to it in respect of such a fiduciary duty claim or to any person asserting a fiduciary duty claim on its
behalf or in right of it or the Company, employees or creditors of Company. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">36 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If the foregoing is in accordance with your understanding of our agreement, please sign and
return to the Company a counterpart hereof, whereupon this instrument, along with all counterparts, will become a binding agreement between Citigroup and the Company in accordance with its terms. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Very truly yours,</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">WASHINGTON REAL ESTATE INVESTMENT TRUST</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Stephen E. Riffee</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Stephen E. Riffee</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Executive Vice President and</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Chief Financial
Officer</P></TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">CONFIRMED AND ACCEPTED, as of the date first above written: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="5%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="93%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">CITIGROUP GLOBAL MARKETS INC.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Adam C. Pozza</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Authorized Signatory&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">37 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT A </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>FORM OF PLACEMENT NOTICE </U></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="5%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="16%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="75%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">From:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">[</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">]</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Cc:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">[`</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">]</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">To:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">[</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">]</TD></TR>
</TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Subject: Equity Distribution&#151;Placement Notice </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Gentlemen: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the terms and subject
to the conditions contained in the Equity Distribution Agreement between Washington Real Estate Investment Trust (the &#147;<U>Company</U>&#148;) and Citigroup Global Markets Inc. (&#147;<U>Citigroup</U>&#148;) dated May&nbsp;4, 2018 (the
&#147;<U>Agreement</U>&#148;), I hereby request on behalf of the Company that Citigroup sell up to [&#149;] [or $[&#149;] in aggregate offering price of] Common Shares of Beneficial Interest, par value $0.01 per share (the
&#147;<U>Securities</U>&#148;), at a minimum market price of $[&#149;] per share. The Company shall pay Citigroup compensation equal to [&#149;]% of the gross proceeds from the sale of the Securities set forth in this Placement Notice. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>[ADDITIONAL SALES PARAMETERS MAY BE ADDED, SUCH AS THE TIME PERIOD IN WHICH SALES ARE REQUESTED TO BE MADE, SPECIFIC DATES THE SHARES MAY NOT BE SOLD ON,
THE MANNER IN WHICH SALES ARE TO BE MADE BY CITIGROUP, AND/OR THE CAPACITY IN WHICH CITIGROUP MAY ACT IN SELLING SHARES (AS PRINCIPAL, AGENT, OR BOTH)] </B></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A-1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT B </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>AUTHORIZED INDIVIDUALS FOR PLACEMENT NOTICES AND ACCEPTANCES </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Citigroup Global Markets Inc. </U></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Bob Leonard </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email: <U>robert.g.leonard@citi.com</U> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Matthew Morris </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email: <U>matthew.t.morris@citi.com</U> </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Washington Real
Estate Investment Trust </U></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Stephen E. Riffee </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email:
<U>sriffee@washreit.com</U> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Paul T. McDermott </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email:
<U>pmcdermott@washreit.com</U> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Taryn D. Fielder </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email:
<U>tfielder@washreit.com</U> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">B-1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT C </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>COMPENSATION </U></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Citigroup
shall be paid compensation equal to up to 2.0% of the gross proceeds from the sales of Securities pursuant to the terms of this Agreement. The actual compensation paid to Citigroup shall be set forth in the applicable Placement Notice. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">C-1 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT D </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>SIGNIFICANT SUBSIDIARIES OF THE COMPANY </U></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="35%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="30%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="30%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:20.00pt; display:inline; font-size:8pt; font-family:Times New Roman; "><B>Name</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman"><B>Jurisdiction of</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1.00pt solid #000000; width:49.45pt; display:inline; font-size:8pt; font-family:Times New Roman; "><B>Organization</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:49.30pt; display:inline; font-size:8pt; font-family:Times New Roman; "><B>Type of Entity</B></P></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">WashREIT OP LLC</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Delaware</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Limited Liability Company</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">WashREIT OP Sub DC LLC</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Delaware</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Limited Liability Company</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">D-1 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT E </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>FORM OF OPINIONS OF COMPANY COUNSEL </U></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">E-1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT F </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>OFFICER CERTIFICATE </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The
undersigned [&#149;], the duly qualified and elected [&#149;] of Washington Real Estate Investment Trust (&#147;<U>Company</U>&#148;), a Maryland real estate investment trust, does hereby certify in such capacity and on behalf of the Company,
pursuant to Section&nbsp;7(n) of each of the Equity Distribution Agreements dated May&nbsp;4, 2018 (collectively, the &#147;<U>Agreements</U>&#148;) between the Company and each of Wells Fargo Securities, LLC, BNY Mellon Capital Markets, LLC,
Capital One Securities, Inc., Citigroup Global Markets Inc., Goldman Sachs&nbsp;&amp; Co. LLC, J.P. Morgan Securities LLC, KeyBanc Capital Markets Inc. and SunTrust Robinson Humphrey, Inc. (collectively, the &#147;<U>Agents</U>&#148;) that to the
knowledge of the undersigned: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The representations and warranties of the Company in Section&nbsp;5 of each of the Agreements (A)&nbsp;to
the extent such representations and warranties are subject to qualifications and exceptions contained therein relating to materiality or Material Adverse Effect, are true and correct on and as of the date hereof with the same force and effect as if
expressly made on and as of the date hereof, except for those representations and warranties that speak solely as of a specific date and which were true and correct as of such date, and (B)&nbsp;to the extent such representations and warranties are
not subject to any qualifications or exceptions, are true and correct in all material respects as of the date hereof as if made on and as of the date hereof with the same force and effect as if expressly made on and as of the date hereof except for
those representations and warranties that speak solely as of a specific date and which were true and correct as of such date; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The
Company has complied in all material respects with all agreements and satisfied all conditions on their part to be performed or satisfied pursuant to each of the Agreements at or prior to the date hereof (other than those conditions waived by the
Agents). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-1 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT G </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>ISSUER FREE WRITING PROSPECTUSES </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">None </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">G-1 </P>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-1.5
<SEQUENCE>6
<FILENAME>d582540dex15.htm
<DESCRIPTION>EX-1.5
<TEXT>
<HTML><HEAD>
<TITLE>EX-1.5</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 1.5 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Washington Real Estate Investment Trust </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">$250,000,000 of Common Shares of Beneficial Interest </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EQUITY DISTRIBUTION AGREEMENT </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dated:
May&nbsp;4, 2018 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TABLE OF CONTENTS </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="96%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Page</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 1. Description of Securities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2. Placements</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 3. Sale of Placement Securities by Goldman Sachs</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4. Suspension of Sales</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 5. Representations and Warranties</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6. Sale and Delivery to Goldman Sachs; Settlement</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7. Covenants of the Company</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 8. Payment of Expenses</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 9. Conditions of Goldman Sachs&#146; Obligations</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 10. Indemnification</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">28</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11. Contribution</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">30</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 12. Representations, Warranties and Agreements to Survive Delivery</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">31</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 13. Termination of Agreement</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">31</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 14. Notices</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 15. Parties</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 16. Adjustments for Stock Splits</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 17. Governing Law; Time and Jurisdiction</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 18. Effect of Headings</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 19. Counterparts</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 20. Definitions</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 21. Permitted Free Writing Prospectuses</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 22. Absence of Fiduciary Relationship</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">i </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXHIBITS </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD></TD>
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<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Exhibit&nbsp;A</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">&nbsp;&nbsp;&nbsp;&nbsp;&#150;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Form of Placement Notice</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Exhibit B</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">&#150;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Authorized Individuals for Placement Notices and Acceptances</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Exhibit C</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">&#150;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Compensation</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Exhibit D</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">&#150;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Significant Subsidiaries of the Company</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Exhibit E</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">&#150;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Form of Opinions of Company Counsel</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Exhibit F</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">&#150;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Officer Certificate</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Exhibit G</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">&#150;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Issuer Free Writing Prospectus</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ii </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Washington Real Estate Investment Trust </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">$250,000,000 of Common Shares of Beneficial Interest </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>EQUITY DISTRIBUTION AGREEMENT </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">May&nbsp;4, 2018 </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Goldman Sachs&nbsp;&amp; Co. LLC
</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">200 West Street </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">New York, New York 10282 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ladies and Gentlemen: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Washington Real Estate
Investment Trust, a Maryland real estate investment trust (the &#147;<U>Company</U>&#148;), confirms its agreement (this &#147;<U>Agreement</U>&#148;) with Goldman Sachs&nbsp;&amp; Co. LLC (&#147;<U>Goldman Sachs</U>&#148;), as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 1. <U>Description of Securities</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company agrees that, from time to time during the term of this Agreement, on the terms and subject to the conditions set forth herein, it
may issue and sell through Goldman Sachs, acting as agent and/or principal, Common Shares of Beneficial Interest, par value $0.01 per share (the &#147;<U>Common Stock</U>&#148;), having an aggregate sale price of up to $250,000,000 (such Common
Shares, the &#147;Securities&#148;, and such maximum amount, the &#147;<U>Maximum Amount</U>&#148;). Notwithstanding anything to the contrary contained herein, the parties hereto agree that compliance with the limitations set forth in this
Section&nbsp;1 regarding the aggregate sale price of the Securities issued and sold under this Agreement shall be the sole responsibility of the Company, and Goldman Sachs shall have no obligation in connection with such compliance. The issuance and
sale of the Securities through Goldman Sachs will be effected pursuant to the Registration Statement (as defined below) filed by the Company with the Securities and Exchange Commission (the &#147;<U>Commission</U>&#148;), which became effective upon
filing, although nothing in this Agreement shall be construed as requiring the Company to use the Registration Statement to issue the Securities. The Company agrees that whenever it determines to sell Securities directly to Goldman Sachs as
principal it will enter into a separate written agreement containing the terms and conditions of such sale. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company has also entered
into separate equity distribution agreements with respect to the Securities (each, an &#147;<U>Alternative Equity Distribution Agreement</U>&#148; and collectively, the &#147;<U>Alternative Equity Distribution Agreements</U>&#148;), each dated as of
the date hereof, with Wells Fargo Securities, LLC, BNY Mellon Capital Markets, LLC, Capital One Securities, Inc., Citigroup Global Markets Inc., J.P. Morgan&nbsp;Securities LLC, KeyBanc&nbsp;Capital Markets Inc. and SunTrust Robinson&nbsp;Humphrey,
Inc. (each, an &#147;<U>Alternative Placement Agent</U>&#148; and collectively, the &#147;<U>Alternative Placement Agents</U>&#148;, and, together with Goldman Sachs, the &#147;<U>Agents</U>&#148;). The aggregate offering price of the Securities
that may be sold pursuant to this Agreement and the Alternative Equity Distribution Agreements collectively shall not exceed the Maximum Amount. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company has filed, in accordance with the provisions of the Securities Act, with the
Commission a registration statement on Form <FONT STYLE="white-space:nowrap">S-3</FONT> (File <FONT STYLE="white-space:nowrap">No.&nbsp;333-224135),</FONT> including a base prospectus, relating to certain securities, including the Securities to be
issued from time to time by the Company, and which incorporates by reference documents that the Company has filed or will file in accordance with the provisions of the Securities Exchange Act of 1934, as amended, and the rules and regulations
thereunder (collectively, the &#147;<U>Exchange Act</U>&#148;). The Company has prepared a prospectus supplement specifically relating to the Securities (the &#147;<U>Prospectus Supplement</U>&#148;) to the base prospectus included as part of such
registration statement. The Company will furnish to Goldman Sachs, for use by Goldman Sachs, copies of the prospectus included as part of such registration statement, as supplemented by the Prospectus Supplement, relating to the Securities. The
&#147;<U>Registration Statement</U>&#148;, as of any time, means such registration statement as amended by any post-effective amendments thereto at such time, including the exhibits and any schedules thereto at such time, the documents incorporated
or deemed to be incorporated by reference therein at such time pursuant to Item 12 of Form <FONT STYLE="white-space:nowrap">S-3</FONT> under the Securities Act and the documents and information otherwise deemed to be a part thereof as of such time
pursuant to Rule 430B of the Securities Act (&#147;<U>Rule 430B</U>&#148;); <I>provided</I>, <I>however</I>, that the &#147;Registration Statement&#148; without reference to a time means such registration statement as amended by any post-effective
amendments thereto as of the time of the first contract of sale for the Securities, which time shall be considered the &#147;new effective date&#148; of the Registration Statement with respect to the Securities within the meaning of paragraph (f)(2)
of Rule 430B, including the exhibits and schedules thereto at such time, the documents and information incorporated or deemed to be incorporated by reference therein at such time pursuant to Item 12 of Form
<FONT STYLE="white-space:nowrap">S-3</FONT> under the Securities Act and the documents otherwise deemed to be a part thereof as of such time pursuant to Rule 430B. The base prospectus, including all documents incorporated therein by reference,
included in the Registration Statement, as it may be supplemented by the Prospectus Supplement, in the form in which such prospectus and/or Prospectus Supplement have most recently been filed by the Company with the Commission pursuant to Rule
424(b) under the Securities Act is herein called the &#147;<U>Prospectus</U>.&#148; Any reference herein to the Registration Statement, the Prospectus or any amendment or supplement thereto shall be deemed to refer to and include the documents
incorporated by reference therein, and any reference herein to the terms &#147;amend,&#148; &#147;amendment&#148; or &#147;supplement&#148; with respect to the Registration Statement or the Prospectus shall be deemed to refer to and include the
filing after the execution hereof of any document with the Commission deemed to be incorporated by reference therein. For purposes of this Agreement, all references to the Registration Statement, the Prospectus or to any amendment or supplement
thereto shall be deemed to include any copy filed with the Commission pursuant to EDGAR. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 2. <U>Placements</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each time that the Company wishes to issue and sell the Securities hereunder (each, a &#147;<U>Placement</U>&#148;), it will notify Goldman
Sachs by email notice (or other method mutually agreed to in writing by the parties) containing the parameters in accordance with which it desires the Securities to be sold, which shall at a minimum include the number or dollar amount of Securities
to be issued (the &#147;<U>Placement Securities</U>&#148;), the time period during which sales are requested to be made, any limitation on the number or dollar amount of Securities that may be sold in any one day and any minimum price below which
sales may not be made (a &#147;<U>Placement </U> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
<U>Notice</U>&#148;), a form of which containing such minimum sales parameters necessary is attached hereto as <U>Exhibit A</U>. The Placement Notice shall originate from any of the individuals
from the Company set forth on <U>Exhibit B</U> (with a copy to each of the other individuals from the Company listed on such schedule), and shall be addressed to each of the individuals from Goldman Sachs set forth on <U>Exhibit B</U>, as such
<U>Exhibit B</U> may be amended from time to time. If Goldman Sachs wishes to accept such proposed terms included in the Placement Notice (which it may decline to do so for any reason in its sole discretion) or, following discussion with the
Company, wishes to accept amended terms, Goldman Sachs will, prior to 4:30 p.m. (New York City time) on the Business Day following the Business Day on which such Placement Notice is delivered to Goldman Sachs, issue to the Company a notice by email
(or other method mutually agreed to in writing by the parties) addressed to all of the individuals from the Company and Goldman Sachs set forth on <U>Exhibit B</U>) setting forth the terms that Goldman Sachs is willing to accept. Where the terms
provided in the Placement Notice are amended as provided for in the immediately preceding sentence, such terms will not be binding on the Company or Goldman Sachs until the Company delivers to Goldman Sachs an acceptance by email (or other method
mutually agreed to in writing by the parties) of all of the terms of such Placement Notice, as amended (the &#147;<U>Acceptance</U>&#148;), which email shall be addressed to all of the individuals from the Company and Goldman Sachs set forth on
<U>Exhibit B</U>. The Placement Notice (as amended by the corresponding Acceptance, if applicable) shall be effective upon receipt by the Company of Goldman Sachs&#146; acceptance of the terms of the Placement Notice or upon receipt by Goldman Sachs
of the Company&#146;s Acceptance, as the case may be, unless and until (i)&nbsp;the entire amount of the Placement Securities has been sold, (ii)&nbsp;in accordance with the notice requirements set forth in the second sentence of this paragraph, the
Company terminates the Placement Notice, (iii)&nbsp;the Company issues a subsequent Placement Notice with parameters superseding those on the earlier dated Placement Notice, (iv)&nbsp;this Agreement has been terminated under the provisions of
Section&nbsp;13 or (v)&nbsp;either party shall have suspended the sale of the Placement Securities in accordance with Section&nbsp;4 below. The amount of any discount, commission or other compensation to be paid by the Company to Goldman Sachs in
connection with the sale of the Placement Securities shall be calculated in accordance with the terms set forth in <U>Exhibit C</U>. It is expressly acknowledged and agreed that neither the Company nor Goldman Sachs will have any obligation
whatsoever with respect to a Placement or any Placement Securities unless and until the Company delivers a Placement Notice to Goldman Sachs and either (i)&nbsp;Goldman Sachs accepts the terms of such Placement Notice or (ii)&nbsp;where the terms of
such Placement Notice are amended, the Company accepts such amended terms by means of an Acceptance pursuant to the terms set forth above, and then only upon the terms specified in the Placement Notice (as amended by the corresponding Acceptance, if
applicable) and herein. In the event of a conflict between the terms of this Agreement and the terms of a Placement Notice (as amended by the corresponding Acceptance, if applicable), the terms of the Placement Notice (as amended by the
corresponding Acceptance, if applicable) will control. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company agrees that any offer to sell or any sales of Securities pursuant to
this Agreement or any Alternative Equity Distribution Agreement shall only be effected by or through only one of Goldman Sachs or an Alternative Placement Agent on any single given day, and the Company shall in no event request that Goldman Sachs
and an Alternative Placement Agent sell Securities on the same day; <I>provided, however, </I>that the foregoing limitation shall only apply with respect to an agency transaction and shall not apply to any&nbsp;principal transaction effected at any
time by any Agent and, provided further, such limitation shall not apply on any </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
day during which no sales are made pursuant to this Agreement. Notwithstanding the foregoing or anything to the contrary contained herein, the Company shall be permitted, at any time and from
time to time, to engage one or more additional agents and/or principals, subject to such additional agents and/or principals executing the expense reimbursement agreement then in effect among the Agents relating only to the sale of the Securities
and the transactions contemplated by this Agreement and the Alternative Distribution Agreements, that, once engaged, may offer to sell, solicit an offer to buy or sell the Securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 3. <U>Sale of Placement Securities by Goldman Sachs</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Subject to the provisions of Section&nbsp;6(a), Goldman Sachs, for the period specified in the Placement Notice, will use its commercially
reasonable efforts consistent with its normal trading and sales practices to sell the Placement Securities up to the amount specified, and otherwise in accordance with the terms of such Placement Notice (as amended by the corresponding Acceptance,
if applicable). Goldman Sachs will provide written confirmation to the Company no later than the opening of the Trading Day (as defined below) immediately following the Trading Day on which it has made sales of Placement Securities hereunder setting
forth the number of Placement Securities sold on such day, the compensation payable by the Company to Goldman Sachs pursuant to Section&nbsp;2 with respect to such sales, and the Net Proceeds (as defined below) payable to the Company, with an
itemization of the deductions made by Goldman Sachs (as set forth in Section&nbsp;6(b)) from the gross proceeds that it receives from such sales. Subject to the terms of the Placement Notice (as amended by the corresponding Acceptance, if
applicable), Goldman Sachs may sell Placement Securities by any method permitted by law deemed to be an &#147;at the market&#148; offering as defined in Rule 415 under the Securities Act, including without limitation sales made directly on the NYSE,
on any other existing trading market for the Common Stock or to or through a market maker. Subject to the terms of the Placement Notice (as amended by the corresponding Acceptance, if applicable), Goldman Sachs may also sell Placement Securities by
any other method permitted by law, including but not limited to in privately negotiated transactions, which may include block trades. The Company acknowledges and agrees that (i)&nbsp;there can be no assurance that Goldman Sachs will be successful
in selling Placement Securities, and (ii)&nbsp;Goldman Sachs will incur no liability or obligation to the Company or any other person or entity if it does not sell Placement Securities for any reason other than a failure by Goldman Sachs to use its
commercially reasonable efforts consistent with its normal trading and sales practices to sell such Placement Securities as required under this Section&nbsp;3. For the purposes hereof, &#147;<U>Trading Day</U>&#148; means any day on which shares of
Common Stock are purchased and sold on the principal market on which the Common Stock is listed or quoted. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 4. <U>Suspension of
Sales</U>. The Company or Goldman Sachs may, upon notice to the other party in writing (including by email correspondence to each of the individuals of the other party set forth on <U>Exhibit B</U>, if receipt of such correspondence is actually
acknowledged by any of the individuals to whom the notice is sent, other than via auto-reply) or by telephone (confirmed immediately by verifiable facsimile transmission or email correspondence to each of the individuals of the other party set forth
on <U>Exhibit B</U>), suspend any sale of Placement Securities; <I>provided</I>, <I>however</I>, that such suspension shall not affect or impair either party&#146;s </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>


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obligations with respect to any Placement Securities sold hereunder prior to the receipt of such notice or any Placement Securities sold under the Alternative Equity Distribution Agreements. Each
of the parties agrees that no such notice under this Section&nbsp;4 shall be effective against the other unless it is made to one of the individuals named on <U>Exhibit B</U> hereto, as such <U>Exhibit B</U> may be amended from time to time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 5. <U>Representations and Warranties</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Representations and Warranties by the Company</I>. The Company represents and warrants to Goldman Sachs as of the date hereof and as of
each Representation Date (as defined below) on which a certificate is required to be delivered pursuant to Section&nbsp;7(n) of this Agreement, as of each Applicable Time and as of each Settlement Date (as defined below), and agrees with Goldman
Sachs, as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) <U>Compliance with Registration Requirements</U>. The Securities have been duly registered under
the Securities Act pursuant to the Registration Statement. The Registration Statement has become effective under the Securities Act, or, with respect to any registration statement to be filed to register the offer and sale of the Securities pursuant
to Rule 462(b) under the Securities Act (a &#147;<U>Rule 462(b) Registration Statement</U>&#148;), will be filed with the Commission and become effective under the Securities Act no later than 10:00 p.m. (New York City time), on the date of
determination of the public offering price for the Securities, and no stop order preventing or suspending the use of any base prospectus, the Prospectus Supplement, the Prospectus or any Permitted Free Writing Prospectus (as defined below), or the
effectiveness of the Registration Statement or any Rule 462(b) Registration Statement and no proceedings for such purpose have been instituted or are pending or, to the knowledge of the Company, are contemplated by the Commission, and any request on
the part of the Commission for additional information has been complied with. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">At the respective times each of the
Registration Statement, any Rule 462(b) Registration Statement and any post-effective amendments thereto became or becomes effective and as of the date hereof, the Registration Statement, any Rule 462(b) Registration Statement and any amendments and
supplements thereto complied and will comply in all material respects with the requirements of the Securities Act. The conditions for the use of Form <FONT STYLE="white-space:nowrap">S-3,</FONT> as set forth in the General Instructions thereto, and
the Registration Statement meets, and the offering and sale of the Securities as contemplated hereby complies with, the requirements of Rule 415 under the Securities Act (including, without limitation, Rule 415(a)(5)). The Registration Statement, as
of the date hereof and each effective date with respect thereto, did not and will not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not
misleading. Neither the Prospectus nor any amendments or supplements thereto, as of their respective dates, and at each Applicable Time and Settlement Date, as the case may be, included or will include an untrue statement of a material fact or
omitted or will omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">The representations and warranties set forth in the immediately preceding
paragraph shall not apply to statements in or omissions from the Registration Statement or the Prospectus, as amended or supplemented, made in reliance upon and in conformity with information furnished to the Company in writing by Goldman Sachs
expressly for use therein. For purposes of this Agreement, the only information so furnished as of the date hereof shall be Goldman Sachs&#146; name (the &#147;<U>Agent Information</U>&#148;). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">The copies of the Registration Statement and any Rule 462(b) Registration Statement and any amendments thereto, any other
preliminary prospectus, each Issuer Free Writing Prospectus that is required to be filed with the Commission pursuant to Rule 433 and the Prospectus and any amendments or supplements thereto delivered and to be delivered to Goldman Sachs
(electronically or otherwise) in connection with the offering of the Securities were and will be identical to the electronically transmitted copies thereof filed with the Commission pursuant to EDGAR, except to the extent permitted by Regulation <FONT
STYLE="white-space:nowrap">S-T.</FONT> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each Issuer Free Writing Prospectus relating to the Securities, as of its issue
date and as of each Applicable Time and Settlement Date, did not, does not and will not include any information that conflicted, conflicts or will conflict with the information contained in the Registration Statement or the Prospectus, including any
incorporated document deemed to be a part thereof that has not been superseded or modified, or included, includes or will include an untrue statement of a material fact or omitted, omits or will omit to state a material fact necessary in order to
make the statements therein, in light of the circumstances, prevailing at that subsequent time, not misleading. The foregoing sentence does not apply to statements in or omissions from any Issuer Free Writing Prospectus based upon and in conformity
with written information furnished to the Company by Goldman Sachs specifically for use therein. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">At the time of the
initial filing of the Registration Statement, at the time of the most recent amendment thereto for the purposes of complying with Section&nbsp;10(a)(3) of the Securities Act (whether such amendment was by post-effective amendment, incorporated
report filed pursuant to Section&nbsp;13 or 15(d) of the Exchange Act or form of prospectus), at the time the Company or another offering participant made a bona fide offer (within the meaning, for this paragraph only, of Rule 164(h)(2) of the
Securities Act), the Company was and is a &#147;well-known seasoned issuer&#148; as defined in Rule 405 of the Securities Act, including not having been and not being an &#147;ineligible issuer,&#148; as defined in Rule 405 of the Securities Act;
and, without limitation to the foregoing, the Company has at all relevant times met, meets and will at all relevant times meet the requirements of Rule 164 for the use of a free writing prospectus (as defined in Rule 405) in connection with the
offering contemplated hereby. The Company agrees to pay the fees required by the Commission relating to the Securities within the time required by Rule 456(b)(1) without regard to the proviso therein and otherwise in accordance with Rules 456(b) and
457(r). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each document incorporated by reference in the Registration Statement or the
Prospectus heretofore filed, when it was filed (or, if any amendment with respect to any such document was filed, when such amendment was filed), conformed in all material respects with the requirements of the Exchange Act, and any further documents
so filed and incorporated after the date of this Agreement will, when they are filed, conform in all material respects with the requirements of the Exchange Act; no such document when it was filed (or, if an amendment with respect to any such
document was filed, when such amendment was filed), contained an untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make the statements therein not misleading; and no such
document, when it is filed, will contain an untrue statement of a material fact or will omit to state a material fact required to be stated therein or necessary in order to make the statements therein not misleading. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) <U>Prior Written Communications</U>. Any offer that is a written communication relating to the Securities made prior to the
initial filing of the Registration Statement by the Company or any person acting on its behalf (within the meaning, for this paragraph only, of Rule 163(c) of the Securities Act) has been filed with the Commission in accordance with the exemption
provided by Rule 163 of the Securities Act and otherwise complied with the requirements of Rule 163 of the Securities Act, including without limitation the legending requirement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) <U>Good Standing of Company</U>. The Company has been duly organized and is validly existing as a real estate investment
trust of unlimited duration with transferable shares of beneficial interest in good standing under the laws of the State of Maryland, with full power and authority to own, lease and operate its properties and to conduct its business as described in
the Registration Statement and the Prospectus and to enter into this Agreement and to consummate the transactions contemplated by the Registration Statement and the Prospectus. The Company is duly qualified to transact business and is in good
standing in each jurisdiction in which such qualification is required, whether by reason of the ownership or leasing of property or the conduct of business, except where the failure to so qualify or be in good standing would not result in a material
adverse change in the condition, financial or otherwise, or the results of operations, business, properties or prospects of the Company and its subsidiaries considered as one enterprise, whether or not arising in the ordinary course of business (a
&#147;<U>Material Adverse Effect</U>&#148;). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) <U>Subsidiaries</U>. Each &#147;significant subsidiary&#148; of the
Company (as such term is defined in Rule <FONT STYLE="white-space:nowrap">1-02</FONT> of Regulation <FONT STYLE="white-space:nowrap">S-X</FONT> promulgated under the Securities Act) (each, a &#147;Subsidiary&#148; and, collectively, the
&#147;Subsidiaries&#148;) (which term includes corporations, limited and general partnerships, limited liability companies, joint ventures and other entities, and includes direct and indirect subsidiaries), has been duly organized and is validly
existing as a corporation, limited liability company or partnership, as the case may be, in good standing under the laws of the jurisdiction of its incorporation or organization, has power and authority to own, lease and operate its properties and
to conduct its business as described in the Registration Statement and the Prospectus and is duly qualified to transact business and is in good standing in each jurisdiction in which such qualification is required, whether by reason of the ownership
or leasing of property or the conduct of business, except where the failure to so qualify or be in good standing would not result in a Material Adverse Effect. Except as otherwise stated in the Registration Statement or the Prospectus, all of the
issued and outstanding capital stock or other ownership interests of each subsidiary have been duly authorized and validly </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>


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issued, are fully paid and <FONT STYLE="white-space:nowrap">non-assessable</FONT> and are owned by the Company, directly or through subsidiaries, free and clear of any security interest,
mortgage, pledge, lien, encumbrance, claim or equity; and none of the outstanding shares of capital stock of any subsidiary was issued in violation of preemptive or other similar rights of any security holder of such subsidiary. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(5) <U>Capitalization</U>. The Securities and all other outstanding Common Stock have been duly authorized; the authorized
equity capitalization of the Company is as set forth in the Prospectus; all outstanding Common Stock is, and, when the Securities have been delivered and paid for in accordance with this Agreement or any Alternative Equity Distribution Agreement,
such Securities will have been, validly issued, fully paid and nonassessable, will be consistent with the information in the Prospectus and will conform to the description thereof contained in the Prospectus; the shareholders of the Company have no
preemptive rights with respect to the Securities; and none of the outstanding Common Stock has been issued in violation of any preemptive or similar rights of any security holder. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(6) <U>Absence of Further Requirements</U>. No consent, approval, authorization, or order of, or filing or registration with,
any person (including any governmental agency or body or any court) is required for the consummation by the Company of the transactions contemplated by this Agreement in connection with the offering, issuance and sale of the Securities by the
Company, except such as have been obtained under the Securities Act, and such as may be required under state securities laws. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(7) <U>Title to Property</U>. The Company and its subsidiaries have good and marketable title to, or valid and enforceable
leasehold estates in, all items of real and personal property referred to in the Registration Statement and the Prospectus as owned or leased by them, in each case free and clear of all liens, encumbrances, claims, security interests and defects,
other than those disclosed in the Registration Statement or the Prospectus or that would not, individually or in the aggregate, have a Material Adverse Effect. The Company has no reasonable basis to believe that the lessee under any lease calling
for annual lease payments in excess of one percent of the Company&#146;s annual revenue for its last fiscal year is not financially capable of performing its obligations thereunder (excluding leases for which rent payments due for the remainder of
such lease are less than such amount). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(8) <U>Absence of Defaults and Conflicts Resulting from Transaction</U>. The
execution, delivery and performance of this Agreement, and the issuance and sale of the Securities and compliance with the terms and provisions thereof will not result in a breach or violation of any of the terms and provisions of, or constitute a
default or a Debt Repayment Triggering Event (as defined below) under, or result in the imposition of any lien, charge or encumbrance upon any property or assets of the Company or any of its subsidiaries pursuant to, the declaration of trust,
partnership agreement, charter or bylaws or other organizational documents of the Company or any of its subsidiaries, any statute, rule, regulation or order of any governmental agency or body or any court, domestic or foreign, having jurisdiction
over the Company or any of its subsidiaries or any of their properties, or any agreement or instrument to which the Company or any of its </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>


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subsidiaries is a party or by which the Company or any of its subsidiaries is bound or to which any of the properties of the Company or any of its subsidiaries is subject; a &#147;Debt Repayment
Triggering Event&#148; means any event or condition that gives, or with the giving of notice or lapse of time would give, the holder of any note, debenture, or other evidence of indebtedness (or any person acting on such holder&#146;s behalf) the
right to require the repurchase, redemption or repayment of all or a portion of such indebtedness by the Company or any of its subsidiaries. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(9) <U>Absence of Existing Defaults and Conflicts</U>. Neither the Company nor any of its subsidiaries is (i)&nbsp;in violation
of its respective declaration of trust, partnership agreement, charter or bylaws or other organizational document or (ii)&nbsp;in default (or with the giving of notice or lapse of time would be in default) under any existing obligation, agreement,
covenant or condition contained in any indenture, loan agreement, mortgage, lease or other agreement or instrument to which any of them is a party or by which any of them is bound or to which any of the properties of any of them is subject or
(iii)&nbsp;in violation of any law or statute or any judgment, order, rule or regulation of any court or arbitrator or governmental or regulatory authority, except, in the case of clauses (ii)&nbsp;and (iii) above, for any such default or violation
that would not, individually or in the aggregate, have a Material Adverse Effect or materially and adversely affect the ability of the Company to perform its obligations under this Agreement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(10) <U>Authorization of Agreement</U>. This Agreement has been duly authorized, executed and delivered by the Company. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(11) <U>Possession of Licenses and Permits</U>. The Company and its subsidiaries possess, and are in compliance with the terms
of, all certificates, authorizations, franchises, licenses and permits (&#147;<U>Licenses</U>&#148;) necessary or material to the conduct of the business now conducted or proposed in the Registration Statement and the Prospectus to be conducted by
them and have not received any notice of proceedings relating to the revocation or modification of any Licenses that, if determined adversely to the Company or any of its subsidiaries, would individually or in the aggregate have a Material Adverse
Effect. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(12) <U>Absence of Labor Dispute</U>. No labor dispute with the employees of the Company or any of its
subsidiaries exists or, to the knowledge of the Company, is imminent, and the Company is not aware of any existing or imminent labor disturbance by the employees of any of its or its subsidiaries&#146; principal suppliers, contractors or customers,
that, in any such case, would have a Material Adverse Effect. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(13) <U>Possession of Intellectual Property</U>. The Company
and its subsidiaries own, possess or can acquire on reasonable terms, adequate trademarks, trade names and other rights to inventions, <FONT STYLE="white-space:nowrap">know-how,</FONT> patents, copyrights, confidential information and other
intellectual property (collectively, &#147;intellectual property rights&#148;) necessary to conduct the business now operated by them, or presently employed by them, and have not received any notice of infringement of or conflict with asserted
rights of others with respect to any intellectual property rights that, if determined adversely to the Company or any of its subsidiaries, would individually or in the aggregate have a Material Adverse Effect. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">9 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(14) <U>Environmental Laws</U>. Except as disclosed in the Registration Statement
and the Prospectus, neither the Company nor any of its subsidiaries is in violation of any statute, any rule, regulation, decision or order of any governmental agency or body or any court, domestic or foreign, relating to the use, disposal or
release of hazardous or toxic substances or relating to the protection or restoration of the environment or human exposure to hazardous or toxic substances (collectively, &#147;environmental laws&#148;), owns or operates any real property
contaminated with any substance that is subject to any environmental laws, is liable for any <FONT STYLE="white-space:nowrap">off-site</FONT> disposal or contamination pursuant to any environmental laws, or is subject to any claim relating to any
environmental laws, which violation, contamination, liability or claim would individually or in the aggregate have a Material Adverse Effect; and the Company is not aware of any pending investigation which might lead to such a claim. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(15) <U>Accurate Disclosure</U>. The statements in, or incorporated by reference into, the Registration Statement and the
Prospectus under the headings &#147;Description of Shares,&#148; &#147;Description of Common Shares,&#148; &#147;Material U.S. Federal Income Tax Considerations&#148; and &#147;Risk Factors&#148; and the statements in the Registration Statement
under Item 15 insofar as such statements summarize legal matters, agreements, documents or proceedings discussed therein, are accurate and fair summaries of such legal matters, agreements, documents or proceedings and present the information
required to be shown in all material respects. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(16) <U>REIT Status</U>. With respect to all tax periods regarding which
the Internal Revenue Service is or will be entitled to assert any claim, the Company has met the requirements for qualification as a real estate investment trust (&#147;<U>REIT</U>&#148;) under Sections 856 through 860 of the Internal Revenue Code,
as amended (the &#147;<U>Code</U>&#148;), and the Company&#146;s current organization and present and contemplated operations, assets and income as described in the Registration Statement and the Prospectus will permit the Company to continue to
meet such requirements. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(17) <U>Insurance</U>. The Company and its subsidiaries are insured by insurers of recognized
financial responsibility against such losses and risks and in such amounts as are prudent and customary in the businesses in which they are engaged; the Company has no reason to believe that it or any of its subsidiaries will not be able to renew
its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business at a cost that would not have a Material Adverse Effect; and the Company and each of
its subsidiaries has obtained title insurance on all of the properties owned by each of them in an amount at least equal to the original purchase price to acquire land and improvements and such title insurance is in full force and effect. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(18) <U>Taxes</U>. The Company has filed all federal, state and foreign income tax returns that have been required to be filed
and has paid all taxes indicated by said returns and all assessments, fines and penalties received by it to the extent that such taxes, assessments, fines or penalties have become due. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">10 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(19) <U>Statistical and Market-Related Data</U>. Any third-party statistical and
market-related data included or incorporated by reference in the Registration Statement or the Prospectus are based on or derived from sources that the Company believes to be reliable and accurate. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(20) <U>Compliance with Sarbanes-Oxley Act</U>. Except as set forth in the Registration Statement and the Prospectus,
(i)&nbsp;the Company, its subsidiaries and the Company&#146;s Board of Trustees (the &#147;<U>Board</U>&#148;) are in compliance in all material respects with Sarbanes-Oxley (as defined below) and all applicable Exchange Rules (as defined below);
(ii)&nbsp;the Company has adopted and disclosed corporate governance guidelines; (iii)&nbsp;the Company maintains a system of internal controls, including, but not limited to, disclosure controls and procedures, internal control over financial
reporting, an internal audit function and legal and regulatory compliance controls (collectively, &#147;<U>Internal Controls</U>&#148;), which complies with the Securities Laws (as defined below) and is overseen by the Audit Committee (the
&#147;<U>Audit Committee</U>&#148;) of the Board in accordance with Exchange Rules; (iv)&nbsp;since December&nbsp;31, 2009, the Company has not publicly disclosed or reported to the Audit Committee or the Board, and within the next 90 days the
Company does not reasonably expect to publicly disclose or report to the Audit Committee or the Board, a significant deficiency, material weakness, change in Internal Controls or fraud involving management or other employees who have a significant
role in Internal Controls (each, an &#147;<U>Internal Control Event</U>&#148;), any violation of, or failure to comply with, the Securities Laws, or any matter which, if determined adversely, would have a Material Adverse Effect; and
(v)&nbsp;&#147;Securities Laws&#148; means, collectively, the Sarbanes-Oxley Act of 2002 (&#147;<U>Sarbanes-Oxley</U>&#148;), the Securities Act, the Exchange Act, the rules and regulations of the Commission, the auditing principles, rules,
standards and practices applicable to auditors of &#147;issuers&#148; (as defined in Sarbanes-Oxley) promulgated or approved by the Public Company Accounting Oversight Board (&#147;<U>PCAOB Rules</U>&#148; and &#147;<U>PCAOB</U>,&#148;
respectively), and, as applicable, the rules of the New York Stock Exchange (&#147;<U>Exchange Rules</U>&#148;). There is and has been no failure on the part of the Company and any of the Company&#146;s trustees or officers, in their capacities as
such, to comply with Sarbanes-Oxley Section&nbsp;402 relating to loans and there is and has been no material failure on the part of the Company and any of the Company&#146;s trustees or officers, in their capacities as such to comply with
Sarbanes-Oxley Sections 302 and 906 relating to certifications. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(21) <U>Litigation</U>. Except as disclosed in the
Registration Statement and the Prospectus, there are no pending actions, suits or proceedings (including any inquiries or investigations by any court or governmental agency or body, domestic or foreign) against or affecting the Company, any of its
subsidiaries or any of their respective properties that, if determined adversely to the Company or any of its subsidiaries, would individually or in the aggregate have a Material Adverse Effect, or would materially and adversely affect the ability
of the Company to perform its obligations under this Agreement, or which are otherwise material in the context of the sale of the Securities; and no such actions, suits or proceedings (including any inquiries or investigations by any court or
governmental agency or body, domestic or foreign) are threatened or, to the Company&#146;s knowledge, contemplated. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">11 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(22) <U>No Registration Rights</U>. No holders of securities of the Company have
rights to the registration of such securities under the Registration Statement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(23) <U>Financial Statements</U>. The
consolidated historical financial statements and schedules of the Company and its consolidated subsidiaries included in the Registration Statement and the Prospectus present fairly the financial condition, results of operations, shareholders&#146;
equity and cash flows of the Company as of the dates and for the periods indicated, comply as to form with the applicable accounting requirements of the Securities Act and have been prepared in conformity with generally accepted accounting
principles applied on a consistent basis throughout the periods involved (except as otherwise noted therein). The selected financial data set forth under the caption &#147;Selected Financial Information&#148; in the Registration Statement and the
Prospectus fairly present, on the basis stated in the Registration Statement and the Prospectus, the information included therein. The pro forma financial statements included in Registration Statement and the Prospectus include assumptions that
provide a reasonable basis for presenting the significant effects directly attributable to the transactions and events described therein, the related pro forma adjustments give appropriate effect to those assumptions, and the pro forma adjustments
reflect the proper application of those adjustments to the historical financial statement amounts in the pro forma financial statements included in the Registration Statement and the Prospectus. The pro forma financial statements included in the
Registration Statement and the Prospectus comply as to form in all material respects with the applicable accounting requirements of Regulation <FONT STYLE="white-space:nowrap">S-X</FONT> under the Securities Act and the pro forma adjustments have
been properly applied to the historical amounts in the compilation of those statements. The historical summaries of revenue and certain operating expenses included in the Registration Statement and the Prospectus present fairly the revenue and those
operating expenses included in such summaries of the properties related thereto for the periods specified in conformity with GAAP. Any information contained in the Registration Statement or the Prospectus regarding
<FONT STYLE="white-space:nowrap">&#147;non-GAAP</FONT> financial measures&#148; (as defined in Regulation G of the Commission) complies with Regulation G and Item 10 of Regulation <FONT STYLE="white-space:nowrap">S-K</FONT> of the Commission, to the
extent applicable. The interactive data in eXtensible Business Reporting Language included or incorporated by reference in the Registration Statement and the Prospectus fairly presents the information called for in all material respects and is
prepared in accordance with the Commission&#146;s rules and guidelines applicable thereto. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(24) <U>Independent
Accountants</U>. The accountants, who certified the financial statements and delivered their reports with respect to the audited consolidated financial statements and supporting schedules included in the Registration Statement and the Prospectus,
are independent registered public accountants with respect to the Company within the meaning of the Securities Act and the applicable published rules and regulations thereunder. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">12 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(25) <U>No Prohibition on Dividends by Subsidiaries</U>. Except as otherwise
provided in a secured loan document relating to a property owned by a subsidiary, no Subsidiary of the Company is currently prohibited, directly or indirectly, from paying any dividends to the Company, from making any other distribution on such
Subsidiary&#146;s capital stock, from repaying to the Company any loans or advances to such subsidiary from the Company or from transferring any of such Subsidiary&#146;s property or assets to the Company or any other subsidiary of the Company,
except as described in or contemplated by the Registration Statement and the Prospectus (exclusive of any supplement thereto). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(26) <U>Absence of Manipulation</U>. The Company has not taken, directly or indirectly, any action designed to or that would
constitute or that might reasonably be expected to cause or result in stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Securities. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(27) <U>ERISA</U>. None of the following events has occurred or exists that would have a Material Adverse Effect: (i)&nbsp;a
failure to fulfill the obligations, if any, under the minimum funding standards of Section&nbsp;302 of the United States Employee Retirement Income Security Act of 1974, as amended (&#147;<U>ERISA</U>&#148;), and the regulations and published
interpretations thereunder with respect to a Plan, determined without regard to any waiver of such obligations or extension of any amortization period; (ii)&nbsp;an audit or investigation by the Internal Revenue Service, the U.S. Department of
Labor, the Pension Benefit Guaranty Corporation or any other federal or state governmental agency or any foreign regulatory agency with respect to the employment or compensation of employees by any of the Company or any of its subsidiaries;
(iii)&nbsp;any breach of any contractual obligation, or any violation of law or applicable qualification standards, with respect to the employment or compensation of employees by the Company or any of its subsidiaries. None of the following events
has occurred or is reasonably likely to occur: (i)&nbsp;a material increase in the aggregate amount of contributions required to be made to all Plans in the current fiscal year of the Company and its subsidiaries compared to the amount of such
contributions made in the most recently completed fiscal year of the Company and its subsidiaries; (ii)&nbsp;a material increase in the &#147;accumulated post-retirement benefit obligations&#148; (within the meaning of Statement of Financial
Accounting Standards 106) of the Company and its subsidiaries compared to the amount of such obligations in the most recently completed fiscal year of the Company and its subsidiaries; (iii)&nbsp;any event or condition giving rise to a liability
under Title IV of ERISA that would have a Material Adverse Effect; or (iv)&nbsp;the filing of a claim by one or more employees or former employees of the Company or any of its subsidiaries related to their employment that would have a Material
Adverse Effect. For purposes of this paragraph, the term &#147;Plan&#148; means a plan (within the meaning of Section&nbsp;3(3) of ERISA) subject to Title IV of ERISA with respect to which the Company or any of its subsidiaries may have any
liability. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(28) <U>Foreign Corrupt Practices Act</U>. Neither the Company nor any of its subsidiaries nor, to the
knowledge of the Company, any trustee, officer, agent, employee or affiliate of the Company or any of its subsidiaries is aware of or has taken any action, directly or indirectly, that would result in a violation by such persons of the Foreign
Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder (the &#147;<U>FCPA</U>&#148;), including, without limitation, making use of the mails or any means or </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">13 </P>


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instrumentality of interstate commerce corruptly in furtherance of an offer, payment, promise to pay or authorization of the payment of any money, or other property, gift, promise to give, or
authorization of the giving of anything of value to any &#147;foreign official&#148; (as such term is defined in the FCPA) or any foreign political party or official thereof or any candidate for foreign political office, in contravention of the
FCPA; and the Company, its subsidiaries and, to the knowledge of the Company, its other affiliates have conducted their businesses in compliance with the FCPA. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(29) <U>Money Laundering Laws</U>. The operations of the Company and its subsidiaries are and have been conducted at all times
in compliance with applicable financial recordkeeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended, the money laundering statutes of all applicable jurisdictions, the rules and regulations
thereunder and any related or similar applicable rules, regulations or guidelines, issued, administered or enforced by any governmental agency (collectively, &#147;<U>Money Laundering Laws</U>&#148;) and no action, suit or proceeding by or before
any court or governmental agency, authority or body or any arbitrator involving the Company or any of its subsidiaries with respect to the Money Laundering Laws is pending or, to the knowledge of the Company, threatened. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(30) <U>OFAC</U>. Neither the Company nor any of its subsidiaries nor, to the knowledge of the Company, any trustee, officer,
agent, employee, affiliate or person acting on behalf of the Company or any of its subsidiaries is currently subject to any U.S. sanctions administered by the Office of Foreign Assets Control of the U.S. Treasury Department
(&#147;<U>OFAC</U>&#148;); and the Company will not directly or indirectly use any of the proceeds received by the Company from the sale of Securities contemplated by this Agreement, or lend, contribute or otherwise make available any such proceeds
to any subsidiary, joint venture partner or other person or entity, for the purpose of financing the activities of any person currently subject to any U.S. sanctions administered by OFAC. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(31) <U>Significant Subsidiaries</U>. The subsidiaries listed on <U>Exhibit D</U> attached hereto are the only significant
subsidiaries of the Company as defined by <FONT STYLE="white-space:nowrap">Rule&nbsp;1-02</FONT> of Regulation <FONT STYLE="white-space:nowrap">S-X.</FONT> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(32) <U>Lending Relationship</U>. Except as disclosed in the Registration Statement and the Prospectus, neither the Company nor
any of its subsidiaries has any outstanding borrowings from, or is a party to any line of credit, credit agreement or other credit facility or otherwise has a borrowing relationship with, any bank or other lending institution affiliated with Goldman
Sachs, and, except as disclosed in the Registration Statement and the Prospectus, the Company does not intend to use any of the proceeds from the sale of the Securities to repay any debt owed to Goldman Sachs or any affiliate thereof. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(33) <U>No Other Contracts</U>. There are no contracts or documents that are required to be described in the Registration
Statement or the Prospectus or the documents incorporated by reference therein or to be filed as exhibits thereto that have not been so described and filed as required. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">14 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(34) <U>Investment Company Act</U>. The Company is not and, after giving effect
to the offering and sale of the Securities and the application of the proceeds thereof as described in the Registration Statement and the Prospectus, will not be an &#147;investment company&#148; as defined in the Investment Company Act of 1940 (the
&#147;<U>Investment Company Act</U>&#148;). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(35) <U>Finder&#146;s Fee</U>. Other than this Agreement, there are no
contracts, agreements or understandings between the Company and any person that would give rise to a valid claim against the Company or Goldman Sachs for a brokerage commission, finder&#146;s fee or other like payment as a result of any transactions
contemplated by this Agreement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(36) <U>Proprietary Trading by Goldman Sachs</U>. The Company acknowledges and agrees that
Goldman Sachs has informed the Company that Goldman Sachs may, to the extent permitted under the Securities Act and the Exchange Act, purchase and sell shares of Common Stock for its own account and for the account of its clients while this
Agreement is in effect, and shall be under no obligation to purchase Securities on a principal basis pursuant to this Agreement, except as otherwise agreed by Goldman Sachs in the Placement Notice (as amended by the corresponding Acceptance, if
applicable); provided, that no such purchase or sales for Goldman Sachs&#146; own account shall take place while a Placement Notice is in effect (except (i)&nbsp;as agreed by Goldman Sachs in the Placement Notice (as amended by the corresponding
Acceptance, if applicable) or (ii)&nbsp;to the extent Goldman Sachs may engage in sales of Placement Securities purchased or deemed purchased from the Company as a &#147;riskless principal&#148; or in a similar capacity). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(37) <U>No Material Adverse Change in Business</U>. Except as disclosed in the Prospectus, since the end of the period covered
by the latest audited financial statements included in the Prospectus (i)&nbsp;there has been no change, nor any development or event involving a prospective change, in the condition (financial or otherwise), results of operations, business,
properties or prospects of the Company and its subsidiaries, taken as a whole that is material and adverse, (ii)&nbsp;except for ordinary quarterly dividends, there has been no dividend or distribution of any kind declared, paid or made by the
Company on any class of its capital stock and (iii)&nbsp;there has been no material adverse change in the capital stock, short-term indebtedness, long-term indebtedness, net current assets or net assets of the Company and its subsidiaries. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(38) <U>Actively Traded Security</U>. Except under circumstances where the Company has provided Goldman Sachs with the notice
required pursuant to Section&nbsp;7(x) of this Agreement, the Common Stock is an &#147;actively traded security&#148; excepted from the requirements of Rule 101 of Regulation M under the Exchange Act by subsection&nbsp;(c)(1) of such rule. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(39) <U>NYSE</U>. The outstanding shares of Common Stock have been and the Securities to be sold by the Company hereunder will
have been approved for listing, subject only to official notice of issuance, on the NYSE, and are registered pursuant to Section&nbsp;12(b) of the Exchange Act, and the Company has taken no action designed to, or likely to have the effect of,
terminating the registration of the Securities under the Exchange Act or delisting any such securities from the NYSE, nor has the Company received any notification that the Commission or the NYSE is contemplating terminating such registration or
listing. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">15 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <I>Certificates</I>. Any certificate signed by any officer of the Company or any of its
subsidiaries and delivered to Goldman Sachs or to counsel for Goldman Sachs shall be deemed a representation and warranty by the Company to Goldman Sachs as to the matters covered thereby. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 6. <U>Sale and Delivery to Goldman Sachs; Settlement</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Sale of Placement Securities</I>. On the basis of the representations and warranties herein contained and subject to the terms and
conditions herein set forth, upon Goldman Sachs&#146; acceptance of the terms of a Placement Notice or upon receipt by Goldman Sachs of an Acceptance, as the case may be, and unless the sale of the Placement Securities described therein has been
declined, suspended, or otherwise terminated in accordance with the terms of this Agreement, Goldman Sachs, for the period specified in the Placement Notice (as amended by the corresponding Acceptance, if applicable), will use its commercially
reasonable efforts consistent with its normal trading and sales practices to sell such Placement Securities up to the amount specified, and otherwise in accordance with the terms of such Placement Notice (as amended by the corresponding Acceptance,
if applicable). The Company acknowledges and agrees that (i)&nbsp;there can be no assurance that Goldman Sachs will be successful in selling Placement Securities, (ii)&nbsp;Goldman Sachs will incur no liability or obligation to the Company or any
other person or entity if it does not sell Placement Securities for any reason other than a failure by Goldman Sachs to use its commercially reasonable efforts consistent with its normal trading and sales practices to sell such Placement Securities
as required under this Section&nbsp;6 and (iii)&nbsp;Goldman Sachs shall be under no obligation to purchase Securities on a principal basis pursuant to this Agreement, except as otherwise agreed by Goldman Sachs in the Placement Notice (as amended
by the corresponding Acceptance, if applicable). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <I>Settlement of Placement Securities</I>. Unless otherwise specified in the
applicable Placement Notice (as amended by the corresponding Acceptance, if applicable), settlement for sales of Placement Securities will occur on the second (2<SUP STYLE="font-size:85%; vertical-align:top">nd</SUP>) Trading Day (or such earlier
day as is industry practice for <FONT STYLE="white-space:nowrap">regular-way</FONT> trading) following the date on which such sales are made (each, a &#147;<U>Settlement Date</U>&#148;). The amount of proceeds to be delivered to the Company on a
Settlement Date against receipt of the Placement Securities sold (the &#147;<U>Net Proceeds</U>&#148;) will be equal to the aggregate sales price received by Goldman Sachs at which such Placement Securities were sold, after deduction for
(i)&nbsp;Goldman Sachs&#146; commission, discount or other compensation for such sales payable by the Company pursuant to Section&nbsp;2 hereof, (ii)&nbsp;any other amounts due and payable by the Company to Goldman Sachs hereunder pursuant to
Section&nbsp;8(a) hereof, and (iii)&nbsp;any transaction fees imposed by any governmental or self-regulatory organization in respect of such sales. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <I>Delivery of Placement Securities</I>. On or before each Settlement Date, the Company will, or will cause its transfer agent to,
electronically transfer the Placement Securities being sold by crediting Goldman Sachs&#146; or its designee&#146;s account (provided Goldman Sachs </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">16 </P>


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shall have given the Company written notice of such designee prior to the Settlement Date) at The Depository Trust Company through its Deposit and Withdrawal at Custodian System or by such other
means of delivery as may be mutually agreed upon by the parties hereto which in all cases shall be freely tradable, transferable, registered shares in good deliverable form. On each Settlement Date, Goldman Sachs will deliver the related Net
Proceeds in same day funds to an account designated by the Company on, or prior to, the Settlement Date. The Company agrees that if the Company, or its transfer agent (if applicable), defaults in its obligation to deliver Placement Securities on a
Settlement Date, the Company agrees that in addition to and in no way limiting the rights and obligations set forth in Section&nbsp;10(a) hereto, it will (i)&nbsp;hold Goldman Sachs harmless against any loss, liability, claim, damage, or expense
whatsoever (including reasonable legal fees and expenses), as incurred, arising out of or in connection with such default by the Company or its transfer agent and (ii)&nbsp;pay to Goldman Sachs any commission, discount, or other compensation to
which it would otherwise have been entitled absent such default. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <I>Denominations; Registration</I>. Certificates for the Securities
shall be in such denominations and registered in such names as Goldman Sachs may request in writing at least one full business day before the Settlement Date. The Company shall deliver the Securities, if any, through the facilities of The Depository
Trust Company unless Goldman Sachs shall otherwise instruct. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) <I>Limitations on Offering Size</I>. Under no circumstances shall the
Company cause or request the offer or sale of any Securities, if after giving effect to the sale of such Securities, the aggregate offering price of the Securities sold pursuant to this Agreement would exceed the lesser of (A)&nbsp;together with all
sales of Securities under the Alternative Equity Distribution Agreements, the Maximum Amount, (B)&nbsp;the amount available for offer and sale under the currently effective Registration Statement and (C)&nbsp;the amount authorized from time to time
to be issued and sold under this Agreement and the Alternative Equity Distribution Agreements by the Company (which authorized amount shall be notified to Goldman Sachs in writing at any time upon Goldman Sachs&#146; written request during the
pendency of an active Placement Notice). Under no circumstances shall the Company cause or request the offer or sale of any Securities pursuant to this Agreement and the Alternative Equity Distribution Agreements at a price lower than the minimum
price authorized from time to time by the Company (which minimum price shall be notified to Goldman Sachs in writing at any time upon Goldman Sachs&#146; written request during the pendency of an active Placement Notice). Further, under no
circumstances shall the aggregate offering price of Securities sold pursuant to this Agreement and the Alternative Equity Distribution Agreements, including any separate underwriting or similar agreement covering principal transactions described in
Section&nbsp;1 of this Agreement, exceed the Maximum Amount. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) <I><FONT STYLE="white-space:nowrap">Black-out</FONT> Limitations</I>.
Notwithstanding any other provision of this Agreement, the Company shall not offer or sell, or instruct Goldman Sachs to offer or sell, any Securities through Goldman Sachs as agent (and, by notice to Goldman Sachs given by telephone (confirmed
promptly by telecopy or email), shall cancel any instructions for any such offer or sale of any Securities prior to the commencement of the periods referenced below), and Goldman Sachs shall not be obligated to make any such offer or sale of
Securities, (i)&nbsp;during any period in which the Company is, or could be deemed to be, in possession of material <FONT STYLE="white-space:nowrap">non-public</FONT> information or (ii)&nbsp;except as provided in Section&nbsp;6(f)(1) hereof, at any
time from and including the date on which the Company issues a press release containing, or shall otherwise publicly </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">17 </P>


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announce, its earnings, revenues or other operating results for a fiscal period or periods (each, an &#147;<U>Earnings Announcement</U>&#148;) through and including the time that is 24 hours
after the time that the Company files a Quarterly Report on Form <FONT STYLE="white-space:nowrap">10-Q</FONT> or an Annual Report on Form <FONT STYLE="white-space:nowrap">10-K</FONT> (a &#147;<U>Filing Time</U>&#148;) that includes consolidated
financial statements as of and for the same fiscal period or periods, as the case may be, covered by such Earnings Announcement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) If the Company wishes to offer or sell Securities to Goldman Sachs as agent at any time during the period from and
including an Earnings Announcement through and including the time that is 24 hours after the corresponding Filing Time, the Company shall first (i)&nbsp;prepare and deliver to Goldman Sachs (with a copy to counsel to Goldman Sachs) a Current Report
on Form <FONT STYLE="white-space:nowrap">8-K</FONT> that includes substantially the same financial and related information (together with management&#146;s discussion and analysis thereof) that was included in such Earnings Announcement (other than
any earnings projections and similar forward-looking data and officers&#146; quotations) (each, an &#147;<U>Earnings <FONT STYLE="white-space:nowrap">8-K</FONT></U>&#148;), in form and substance reasonably satisfactory to Goldman Sachs, and, prior
to its filing, obtain the written consent of Goldman Sachs to such filing (which consent shall not be unreasonably withheld or delayed), (ii) provide Goldman Sachs with the officers&#146; certificate, opinions and letters of counsel and
accountants&#146; letter specified in Section&nbsp;7(o), (p) and (q), respectively, hereof, (iii)&nbsp;afford Goldman Sachs the opportunity to conduct a due diligence review in accordance with Section&nbsp;7(m) hereof prior to filing such Earnings <FONT
STYLE="white-space:nowrap">8-K</FONT> and (iv)&nbsp;file such Earnings <FONT STYLE="white-space:nowrap">8-K</FONT> with the Commission, then the provision of clause (ii)&nbsp;of Section&nbsp;6(f) shall not be applicable for the period from and after
the time at which the foregoing conditions shall have been satisfied (or, if later, the time that is 24 hours after the time that the relevant Earnings Announcement was first publicly released) through and including the time that is 24 hours after
the Filing Time of the relevant Quarterly Report on Form <FONT STYLE="white-space:nowrap">10-Q</FONT> or Annual Report on Form <FONT STYLE="white-space:nowrap">10-K,</FONT> as the case may be. For purposes of clarity, the parties hereto agree that
(A)&nbsp;the delivery of any officers&#146; certificate, opinion or letter of counsel or accountants&#146; letter pursuant to this Section&nbsp;6(f) shall not relieve the Company from any of its obligations under this Agreement with respect to any
Quarterly Report on Form <FONT STYLE="white-space:nowrap">10-Q</FONT> or Annual Report on Form <FONT STYLE="white-space:nowrap">10-K,</FONT> as the case may be, including, without limitation, the obligation to deliver officers&#146; certificates,
opinions and letters of counsel and accountants&#146; letters as provided in Section&nbsp;7(o), (p) and (q), respectively, hereof, and (B)&nbsp;this Section&nbsp;6(f) shall in no way affect or limit the operation of clause (i)&nbsp;of
Section&nbsp;6(f) hereof, which shall have independent application. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 7. <U>Covenants of the Company</U>. The Company covenants
with Goldman Sachs as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Registration Statement Amendments; Payment of Fees</I>. After the date of this Agreement and during
any period in which a Prospectus relating to any Placement Securities is required to be delivered by Goldman Sachs under the Securities Act (including in circumstances where such requirement may be satisfied pursuant to Rule 172 under the Securities
Act), (i) the Company will notify Goldman Sachs promptly of the time when any subsequent amendment to the Registration Statement, other than documents incorporated by reference, has been filed with the Commission and/or has become effective or any
subsequent supplement to the Prospectus </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">18 </P>


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has been filed and of any comment letter from the Commission or any request by the Commission for any amendment or supplement to the Registration Statement or Prospectus or for additional
information; (ii)&nbsp;the Company will prepare and file with the Commission, promptly upon Goldman Sachs&#146; request, any amendments or supplements to the Registration Statement or Prospectus that, in Goldman Sachs&#146; reasonable opinion, may
be necessary or advisable in connection with the distribution of the Placement Securities by Goldman Sachs (<I>provided</I>, <I>however</I>, that the failure of Goldman Sachs to make such request shall not relieve the Company of any obligation or
liability hereunder, or affect Goldman Sachs&#146; right to rely on the representations and warranties made by the Company in this Agreement); (iii) the Company will not file any amendment or supplement to the Registration Statement or Prospectus,
other than documents incorporated by reference, relating to the Placement Securities or a security convertible into the Placement Securities unless a copy thereof has been submitted to Goldman Sachs within a reasonable period of time before the
filing and Goldman Sachs has not reasonably objected thereto (<I>provided</I>, <I>however</I>, that the failure of Goldman Sachs to make such objection shall not relieve the Company of any obligation or liability hereunder, or affect Goldman
Sachs&#146; right to rely on the representations and warranties made by the Company in this Agreement) and the Company will furnish to Goldman Sachs at the time of filing thereof a copy of any document that upon filing is deemed to be incorporated
by reference into the Registration Statement or Prospectus, except for those documents available via EDGAR; and (iv)&nbsp;the Company will cause each amendment or supplement to the Prospectus, other than documents incorporated by reference, to be
filed with the Commission as required pursuant to the applicable paragraph of Rule 424(b) of the Securities Act (without reliance on Rule 424(b)(8) of the Securities Act). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <I>Notice of Commission Stop Orders</I>. The Company will advise Goldman Sachs, promptly after it receives notice or obtains knowledge
thereof, of the issuance or threatened issuance by the Commission of any stop order suspending the effectiveness of the Registration Statement or of any other order preventing or suspending the use of the Prospectus or any Issuer Free Writing
Prospectus, or of the suspension of the qualification of the Placement Securities for offering or sale in any jurisdiction or of the loss or suspension of any exemption from any such qualification, or of the initiation or threatening of any
proceedings for any of such purposes, or of any examination pursuant to Section&nbsp;8(e) of the Securities Act concerning the Registration Statement or if the Company becomes the subject of a proceeding under Section&nbsp;8A of the Securities Act
in connection with the offering of the Securities. The Company will make every reasonable effort to prevent the issuance of any stop order, the suspension of any qualification of the Securities for offering or sale and any loss or suspension of any
exemption from any such qualification, and if any such stop order is issued or any such suspension or loss occurs, to obtain the lifting thereof at the earliest possible moment. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <I>Delivery of Registration Statement and Prospectus</I>. The Company will furnish to Goldman Sachs and its counsel (at the expense of the
Company) copies of the Registration Statement, the Prospectus (including all documents incorporated by reference therein) and all amendments and supplements to the Registration Statement or Prospectus, and any Issuer Free Writing Prospectuses, that
are filed with the Commission during any period in which a Prospectus relating to the Placement Securities is required to be delivered under the Securities Act (including all documents filed with the Commission during such period that are deemed to
be incorporated by reference therein), in each case as soon as reasonably practicable and in such quantities and at such locations as Goldman Sachs may from time to time reasonably request. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">19 </P>


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The copies of the Registration Statement and the Prospectus and any supplements or amendments thereto furnished to Goldman Sachs will be identical to the electronically transmitted copies thereof
filed with the Commission pursuant to EDGAR, except to the extent permitted by Regulation <FONT STYLE="white-space:nowrap">S-T.</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <I>Continued Compliance with Securities Laws</I>. If at any time when a Prospectus is required by the Securities Act or the Exchange Act
to be delivered in connection with a pending sale of the Placement Securities (including, without limitation, pursuant to Rule 172), any event shall occur or condition shall exist as a result of which it is necessary, in the opinion of counsel for
Goldman Sachs or for the Company, to amend the Registration Statement or amend or supplement the Prospectus in order that the Prospectus will not include any untrue statement of a material fact or omit to state a material fact necessary in order to
make the statements therein not misleading in the light of the circumstances existing at the time it is delivered to a purchaser, or if it shall be necessary, in the opinion of such counsel, at any such time to amend the Registration Statement or
amend or supplement the Prospectus in order to comply with the requirements of the Securities Act, the Company will promptly notify Goldman Sachs to suspend the offering of Placement Securities during such period and the Company will promptly
prepare and file with the Commission such amendment or supplement as may be necessary to correct such statement or omission or to make the Registration Statement or the Prospectus comply with such requirements, and the Company will furnish to
Goldman Sachs such number of copies of such amendment or supplement as Goldman Sachs may reasonably request. If at any time following issuance of an Issuer Free Writing Prospectus there occurred or occurs an event or development as a result of which
such Issuer Free Writing Prospectus conflicted, conflicts or would conflict with the information contained in the Registration Statement or the Prospectus or included, includes or would include an untrue statement of a material fact or omitted,
omits or would omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances, prevailing at that subsequent time, not misleading, the Company will promptly notify Goldman Sachs to suspend the
offering of Placement Securities during such period and the Company will, subject to Section&nbsp;7(a) hereof, promptly amend or supplement such Issuer Free Writing Prospectus to eliminate or correct such conflict, untrue statement or omission. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) <I>Blue Sky and Other Qualifications</I>. The Company will use its best efforts, in cooperation with Goldman Sachs, to qualify the
Placement Securities for offering and sale, or to obtain an exemption for the Securities to be offered and sold, under the applicable securities laws of such states and other jurisdictions (domestic or foreign) as Goldman Sachs may designate and to
maintain such qualifications and exemptions in effect for so long as required for the distribution of the Securities (but in no event for less than one year from the date of this Agreement); <I>provided</I>, <I>however</I>, that the Company shall
not be obligated to file any general consent to service of process or to qualify as a foreign corporation or as a dealer in securities in any jurisdiction in which it is not so qualified or to subject itself to taxation in respect of doing business
in any jurisdiction in which it is not otherwise so subject. In each jurisdiction in which the Placement Securities have been so qualified or exempt, the Company will file such statements and reports as may be required by the laws of such
jurisdiction to continue such qualification or exemption, as the case may be, in effect for so long as required for the distribution of the Placement Securities (but in no event for less than one year from the date of this Agreement). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">20 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) <I>Rule 158</I>. The Company will timely file such reports pursuant to the Exchange Act as
are necessary in order to make generally available to its securityholders as soon as reasonably practicable an earnings statement for the purposes of, and to provide to Goldman Sachs the benefits contemplated by, the last paragraph of
Section&nbsp;11(a) of the Securities Act. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) <I>Use of Proceeds</I>. The Company will use the net proceeds received by it from the sale
of the Securities in the manner specified in the Prospectus under &#147;Use of Proceeds.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) <I>Listing</I>. During any period in
which the Prospectus relating to the Placement Securities is required to be delivered by Goldman Sachs under the Securities Act with respect to a pending sale of the Placement Securities (including in circumstances where such requirement may be
satisfied pursuant to Rule 172 under the Securities Act), the Company will use its commercially reasonable efforts to cause the Placement Securities to be listed on the NYSE. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) <I>Filings with the NYSE</I>. The Company will timely file with the NYSE all material documents and notices required by the NYSE of
companies that have or will issue securities that are traded on the NYSE. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) <I>Reporting Requirements</I>. The Company, during any
period when the Prospectus is required to be delivered under the Securities Act and the Exchange Act (including in circumstances where such requirement may be satisfied pursuant to Rule 172 under the Securities Act), will file all documents required
to be filed with the Commission pursuant to the Exchange Act within the time periods required by the Exchange Act. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k) <I>Notice of Other
Sales</I>. During the pendency of any Placement Notice delivered hereunder (as amended by the corresponding Acceptance, if applicable), the Company will not, without giving Goldman Sachs at least one (1)&nbsp;business day prior written notice
specifying the nature of the proposed sale and the date of such proposed sale , (A) offer, pledge, announce the intention to sell, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any
option, right or warrant for the sale of, lend or otherwise transfer or dispose of, directly or indirectly, any Common Stock or securities convertible into or exchangeable or exercisable for or repayable with Common Stock, or file any registration
statement under the 1933 Act with respect to any of the foregoing (other than a shelf registration statement under Rule 415 under the 1933 Act, a registration statement on Form <FONT STYLE="white-space:nowrap">S-8</FONT> or post-effective amendment
to the Registration Statement) or (B)&nbsp;enter into any swap or other agreement or any transaction that transfers in whole or in part, directly or indirectly, any of the economic consequence of ownership of the Common Stock, or any securities
convertible into or exchangeable or exercisable for or repayable with Common Stock, whether any such swap or transaction described in clause (A)&nbsp;or (B) above is to be settled by delivery of Common Stock or such other securities, in cash or
otherwise. The foregoing sentence shall not apply to (i)&nbsp;the Common Stock to be offered and sold through Goldman Sachs and the Alternative Placement Agents pursuant to this Agreement and the Alternative Equity Distribution Agreements,
(ii)&nbsp;any shares of Common Stock issued by the Company upon the exercise of an option or warrant or the conversion, redemption or exchange of a security outstanding at the time such Placement Notice is delivered, including Common Stock issuable
upon exchange of operating partnership units of any operating partnership subsidiary of the Company (&#147;OP Units&#148;), (iii) any issuances of OP Units, (iv)&nbsp;Common Stock issuable pursuant to the Company&#146;s direct dividend reinvestment
plan as it may be amended or replaced from time to time, and (v)&nbsp;equity incentive awards approved by the Board or the compensation committee thereof or the issuance of Common Stock upon exercise thereof. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">21 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(l) <I>Change of Circumstances</I>. The Company will, at any time during a fiscal quarter in
which the Company intends to tender a Placement Notice or sell Placement Securities, advise Goldman Sachs promptly after it shall have received notice or obtained knowledge thereof, of any information or fact that would alter or affect in any
material respect any opinion, certificate, letter or other document provided to Goldman Sachs pursuant to this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(m) <I>Due
Diligence Cooperation</I>. The Company will cooperate with any reasonable due diligence review conducted by Goldman Sachs or its agents in connection with the transactions contemplated hereby, including, without limitation, providing information and
making available documents and senior officers, during regular business hours and at the Company&#146;s principal offices, as Goldman Sachs may reasonably request. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(n) <I>Representation Dates; Certificate</I>. On or prior to the date that the first Securities are sold pursuant to the terms of this
Agreement and: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) each time the Company: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) files the Prospectus relating to the Placement Securities or amends or supplements the Registration Statement or the
Prospectus relating to the Placement Securities by means of a post-effective amendment, sticker, or supplement but not by means of incorporation of documents by reference into the Registration Statement or the Prospectus relating to the Placement
Securities; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) files an annual report on Form <FONT STYLE="white-space:nowrap">10-K</FONT> under the Exchange Act; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) files a quarterly report on Form <FONT STYLE="white-space:nowrap">10-Q</FONT> under the Exchange Act; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) files a report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> containing amended financial information (other than an
earnings release, to &#147;furnish&#148; information pursuant to Items 2.02 or 7.01 of Form <FONT STYLE="white-space:nowrap">8-K)</FONT> under the Exchange Act; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) at any other time reasonably requested by Goldman Sachs (each such date of filing of one or more of the documents referred
to in clauses (1)(i) through (iv)&nbsp;and any time of request pursuant to this Section&nbsp;7(n) shall be a &#147;<U>Representation Date</U>&#148;), </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">the Company shall furnish Goldman Sachs with a certificate, in the form attached hereto as <U>Exhibit F</U> within two (2)&nbsp;Trading Days
of any Representation Date. Except as otherwise notified by Goldman Sachs with respect to a Representation Date on which the Company files its Form <FONT STYLE="white-space:nowrap">10-K,</FONT> the requirement to provide a certificate under this
Section&nbsp;7(n) shall be waived for any Representation Date occurring at a time at which no Placement Notice (as amended by the corresponding Acceptance, if applicable) is pending, which waiver shall continue until the earlier to occur of the date
the Company delivers a Placement Notice hereunder (which for such calendar quarter shall be considered a Representation Date) and the next occurring Representation Date. Notwithstanding the foregoing, if the Company subsequently decides to
</P>
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sell Placement Securities following a Representation Date when the Company relied on such waiver and did not provide Goldman Sachs with a certificate under this Section&nbsp;7(n), then before the
Company delivers the Placement Notice or Goldman Sachs sells any Placement Securities, the Company shall provide Goldman Sachs with a certificate, in the form attached hereto as <U>Exhibit F</U>, dated the date of the Placement Notice. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(o) <I>Legal Opinions.</I> On or prior to the date that the first Securities are sold pursuant to the terms of this Agreement, within two
(2)&nbsp;Trading Days of each Representation Date with respect to which the Company is obligated to deliver a certificate in the form attached hereto as <U>Exhibit F</U> for which no waiver is applicable, the Company shall cause to be furnished to
Goldman Sachs written opinions of Hogan Lovells US LLP (&#147;<U>Company Counsel</U>&#148;), or other counsel satisfactory to Goldman Sachs, in form and substance satisfactory to Goldman Sachs and its counsel, dated the date that the opinions are
required to be delivered, substantially similar to the forms attached hereto as <U>Exhibit E</U>, modified, as necessary, to relate to the Registration Statement and the Prospectus as then amended or supplemented; <I>provided</I>, <I>however</I>,
that in lieu of such opinions for subsequent Representation Dates, counsel may furnish Goldman Sachs with a letter (a &#147;<U>Reliance Letter</U>&#148;) to the effect that Goldman Sachs may rely on a prior opinion delivered under this
Section&nbsp;7(o) to the same extent as if it were dated the date of such letter (except that statements in such prior opinion shall be deemed to relate to the Registration Statement and the Prospectus as amended or supplemented at such
Representation Date). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(p) <I>Comfort Letter</I>. On or prior to the date that the first Securities are sold pursuant to the terms of this
Agreement, within two (2)&nbsp;Trading Days of each Representation Date with respect to which the Company is obligated to deliver a certificate substantially in the form attached hereto as <U>Exhibit F</U> for which no waiver is applicable, the
Company shall cause its independent accountants (and any other independent accountants whose report is included in the Registration Statement or the Prospectus) to furnish Goldman Sachs letters (the &#147;<U>Comfort Letters</U>&#148;), dated the
date of the Comfort Letter is delivered, in form and substance satisfactory to Goldman Sachs, (i)&nbsp;confirming that they are an independent registered public accounting firm within the meaning of the Securities Act, the Exchange Act and the
PCAOB, (ii)&nbsp;stating, as of such date, the conclusions and findings of such firm with respect to the financial information and other matters ordinarily covered by accountants&#146; &#147;comfort letters&#148; to underwriters in connection with
registered public offerings (the first such letter, the &#147;<U>Initial Comfort Letter</U>&#148;) and (iii)&nbsp;updating the Initial Comfort Letter with any information that would have been included in the Initial Comfort Letter had it been given
on such date and modified as necessary to relate to the Registration Statement and the Prospectus, as amended and supplemented to the date of such letter. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(q) <I>Market Activities</I>. The Company will not, directly or indirectly, (i)&nbsp;take any action designed to cause or result in, or that
constitutes or might reasonably be expected to constitute, the stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Securities or (ii)&nbsp;sell, bid for, or purchase the Securities to be
issued and sold pursuant to this Agreement, or pay anyone any compensation for soliciting purchases of the Securities to be issued and sold pursuant to this Agreement other than Goldman Sachs; <I>provided</I>, <I>however</I>, that the Company may
bid for and purchase its Common Stock in accordance with Rule <FONT STYLE="white-space:nowrap">10b-18</FONT> under the Exchange Act; and provided further, that no such bids or purchases shall be made by the Company during the two (2)&nbsp;Trading
Days before or after any sale of any Securities pursuant to this Agreement. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(r) <I>Insurance</I>. The Company and its subsidiaries shall maintain, or caused to be
maintained, insurance in such amounts and covering such risks as is reasonable and customary for companies engaged in similar businesses in similar industries, except where the failure to maintain such insurance would not have a Material Adverse
Effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(s) <I>Compliance with Laws</I>. The Company and each of its subsidiaries shall maintain, or cause to be maintained, all material
environmental permits, licenses and other authorizations required by federal, state and local law in order to conduct their businesses as described in the Prospectus, and the Company and each of its subsidiaries shall conduct their businesses, or
cause their businesses to be conducted, in substantial compliance with such permits, licenses and authorizations and with applicable environmental laws, except where the failure to maintain or be in compliance with such permits, licenses and
authorizations could not reasonably be expected to have a Material Adverse Effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(t) <I>Investment Company Act</I>. The Company will
conduct its affairs in such a manner so as to reasonably ensure that neither it nor its subsidiaries will be or become, at any time prior to the termination of this Agreement, an &#147;investment company,&#148; as such term is defined in the
Investment Company Act, assuming no change in the Commission&#146;s current interpretation as to entities that are not considered an investment company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(u) <I>Securities Act and Exchange Act</I>. The Company will use its best efforts to comply with all requirements imposed upon it by the
Securities Act and the Exchange Act as from time to time in force, so far as necessary to permit the continuance of sales of, or dealings in, the Placement Securities as contemplated by the provisions hereof and the Prospectus. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) <I>No Offer to Sell</I>. Other than a free writing prospectus (as defined in Rule 405 under the Securities Act) approved in advance in
writing by the Company and the Agents in their respective capacities as a principal or agent hereunder or under the Alternative Equity Distribution Agreements, the Company (including its agents and representatives, other than the Agents in their
respective capacities as such) will not, directly or indirectly, make, use, prepare, authorize, approve or refer to any free writing prospectus relating to the Securities to be sold by the Agents as principal or agent hereunder or under an
Alternative Equity Distribution Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(w) <I>Sarbanes-Oxley Act</I>. The Company and its subsidiaries will use their best efforts to
comply with all effective applicable provisions of the Sarbanes-Oxley Act of 2002. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(x) <I>Regulation M</I>. If the Company has reason to
believe that the exemptive provisions set forth in Rule 101(c)(1) of Regulation M under the Exchange Act are not satisfied with respect to the Company or the Common Stock, it shall promptly notify Goldman Sachs and sales of the Placement Securities
under this Agreement shall be suspended until that or other exemptive provisions have been satisfied in the judgment of each party. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">24 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(y) <I>REIT Treatment</I>. The Company currently intends to continue to elect to qualify as a
REIT under the Code and will use its best efforts to enable the Company to continue to meet the requirements for qualification and taxation as a REIT under the Code for subsequent tax years that include any portion of the term of this Agreement;
unless the Company&#146;s Board in good faith determines by resolution that it is in the best interests of the Company&#146;s stockholders not to meet such requirements. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 8. <U>Payment of Expenses</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Expenses</I>. The Company will pay all expenses incident to the performance of its obligations under this Agreement, including
(i)&nbsp;the preparation, printing and filing of the Registration Statement (including financial statements and exhibits) as originally filed and of each amendment and supplement thereto, (ii)&nbsp;the word processing, printing and delivery to
Goldman Sachs of this Agreement and such other documents as may be required in connection with the offering, purchase, sale, issuance or delivery of the Placement Securities, (iii)&nbsp;the preparation, issuance and delivery of the certificates for
the Placement Securities to Goldman Sachs, including any stock or other transfer taxes and any capital duties, stamp duties or other duties or taxes payable upon the sale, issuance or delivery of the Placement Securities to Goldman Sachs,
(iv)&nbsp;the fees and disbursements of the counsel, accountants and other advisors to the Company, (v)&nbsp;the qualification or exemption of the Placement Securities under securities laws in accordance with the provisions of Section&nbsp;7(e)
hereof, including filing fees and the reasonable fees and disbursements of counsel for Goldman Sachs in connection therewith and in connection with the preparation of the Blue Sky Survey and any supplements thereto (not to exceed $10,000), (vi) the
printing and delivery to Goldman Sachs of copies of any permitted Free Writing Prospectus and the Prospectus and any amendments or supplements thereto and any costs associated with electronic delivery of any of the foregoing by Goldman Sachs to
investors, (vii)&nbsp;the preparation, printing and delivery to Goldman Sachs of copies of the Blue Sky Survey and any Canadian &#147;wrapper&#148; and any supplements thereto, (viii)&nbsp;the fees and expenses of the custodian and the transfer
agent and registrar for the Securities, (ix)&nbsp;the filing fees incident to, and the reasonable fees and disbursements of counsel to Goldman Sachs in connection with, any review by FINRA of the terms of the sale of the Securities, (x)&nbsp;the
fees and expenses incurred in connection with the listing of the Placement Securities on the NYSE, and (xi)&nbsp;if Securities having an aggregate offering price of $25,000,000 or more have not been offered and sold under this Agreement and the
Alternative Equity Distribution Agreements by the eighteen month anniversary of the date of this Agreement (or such earlier date at which the Company terminates this Agreement) (the &#147;<U>Determination Date</U>&#148;), the Company shall reimburse
Goldman Sachs and the Alternative Placement Agents for all of their reasonable <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">out-of-pocket</FONT></FONT> expenses, including the reasonable fees and disbursements of counsel for
Goldman Sachs and the Alternative Placement Agents incurred by Goldman Sachs and the Alternative Placement Agents in connection with the transactions contemplated by this Agreement (the &#147;<U>Expenses</U>&#148;); provided that the Company shall
not be obligated to reimburse any such Expenses pursuant to this Agreement and pursuant to the Alternative Equity Distribution Agreements in excess of $150,000 in the aggregate (and such $150,000 limit shall be reduced pro rata for any portion of
such $25,000,000 of Securities actually sold pursuant to this Agreement and the Alternative Distribution Agreements during such eighteen-month period (i.e., if, for example $6,250,000 of Securities are sold, such limit shall be $112,500; if, for
example, $12,500,000 of Securities are sold, such limit shall be $75,000; and if, for example, $18,750,000 of Securities are sold, such limit shall be $37,500)). The Expenses shall be due and payable by the Company to Goldman
</P>
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Sachs and the Alternative Placement Agents within five (5)&nbsp;business days of the Determination Date. The Agents shall be solely responsible for allocating any reimbursement pursuant to this
subsection among themselves. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <I>Termination of Agreement</I>. If this Agreement is terminated by Goldman Sachs in accordance with the
provisions of Section&nbsp;9(m) or Section&nbsp;13(a)(i) hereof, the Company shall reimburse Goldman Sachs for all of their out of pocket expenses, including the reasonable fees and disbursements of counsel for Goldman Sachs, unless Securities
having an aggregate offering price of $25,000,000 or more have previously been offered and sold under this Agreement and/or the Alternative Distribution Agreements. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 9. <U>Conditions of Goldman Sachs</U><U>&#146;</U><U> Obligations</U>. The obligations of Goldman Sachs hereunder with respect to a
Placement will be subject to the continuing accuracy and completeness of the representations and warranties of the Company contained in this Agreement and in certificates of any officer of the Company or any subsidiary of the Company delivered
pursuant to the provisions hereof, to the performance by the Company of its covenants and other obligations hereunder, and to the following further conditions: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Effectiveness of Registration Statement</I>. The Registration Statement and any Rule 462(b) Registration Statement shall have become
effective and shall be available for (i)&nbsp;all sales of Placement Securities issued pursuant to all prior Placement Notices (each as amended by a corresponding Acceptance, if applicable) and (ii)&nbsp;the sale of all Placement Securities
contemplated to be issued by any Placement Notice (each as amended by a corresponding Acceptance, if applicable). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <I>No Material
Notices</I>. None of the following events shall have occurred and be continuing: (i)&nbsp;receipt by the Company or any of its subsidiaries of any request for additional information from the Commission or any other federal or state governmental
authority during the period of effectiveness of the Registration Statement, the response to which would require any post-effective amendments or supplements to the Registration Statement or the Prospectus; (ii)&nbsp;the issuance by the Commission or
any other federal or state governmental authority of any stop order suspending the effectiveness of the Registration Statement or the initiation of any proceedings for that purpose; (iii)&nbsp;receipt by the Company of any notification with respect
to the suspension of the qualification or exemption from qualification of any of the Placement Securities for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; or (iv)&nbsp;the occurrence of any event that
makes any material statement made in the Registration Statement or the Prospectus, or any Issuer Free Writing Prospectus, or any material document incorporated or deemed to be incorporated therein by reference untrue in any material respect or that
requires the making of any changes in the Registration Statement, related Prospectus, or any Issuer Free Writing Prospectus, or such documents so that, in the case of the Registration Statement, it will not contain any materially untrue statement of
a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading and, that in the case of the Prospectus and any Issuer Free Writing Prospectus, it will not contain any
materially untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">26 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <I>No Material Misstatement or Omission</I>. Goldman Sachs shall not have advised the Company
that the Registration Statement or Prospectus, or any Issuer Free Writing Prospectus, or any amendment or supplement thereto, contains an untrue statement of fact that in Goldman Sachs&#146; reasonable opinion is material, or omits to state a fact
that in Goldman Sachs&#146; opinion is material and is required to be stated therein or is necessary to make the statements therein not misleading. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <I>Material Changes</I>. Except as contemplated in the Prospectus, or disclosed in the Company&#146;s reports filed with the Commission,
there shall not have been any material adverse change in the condition, financial or otherwise, or in the results of operations, business affairs or business prospects of the Company and its subsidiaries considered as one enterprise, whether or not
arising in the ordinary course of business. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) <I>Opinions of Counsel for Company</I>. Goldman Sachs shall have received the favorable
opinions of Company Counsel, required to be delivered pursuant to Section&nbsp;7(o) on or before the date on which such delivery of such opinions is required pursuant to Section&nbsp;7(o). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) <I>Representation Certificate</I>. Goldman Sachs shall have received the certificate required to be delivered pursuant to
Section&nbsp;7(n) on or before the date on which delivery of such certificate is required pursuant to Section&nbsp;7(n). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g)
<I>Accountant&#146;s Comfort Letter</I>. Goldman Sachs shall have received the Comfort Letter required to be delivered pursuant Section&nbsp;7(p) on or before the date on which such delivery of such opinion is required pursuant to Section&nbsp;7(p).
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) <I>Opinion of Counsel for Goldman Sachs</I>. On or prior to the date that the first Securities are sold pursuant to the terms of this
Agreement, within two (2)&nbsp;Trading Days of each Representation Date with respect to which the Company is obligated to deliver a certificate in the form attached hereto as <U>Exhibit F</U> for which no waiver is applicable, Goldman Sachs shall
have received the favorable written opinion or opinions of Goodwin Procter LLP, counsel for Goldman Sachs, dated such date, with respect to such matters as Goldman Sachs may reasonably request. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) <I>Approval for Listing</I>. The Placement Securities shall either have been (i)&nbsp;approved for listing on NYSE, subject only to notice
of issuance, or (ii)&nbsp;the Company shall have filed an application for listing of the Placement Securities on NYSE at, or prior to, the issuance of any Placement Notice. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) <I>No Suspension</I>. Trading in the Securities shall not have been suspended on the NYSE. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k) <I>Additional Documents</I>. On each date on which the Company is required to deliver a certificate pursuant to Section&nbsp;7(n), counsel
for Goldman Sachs shall have been furnished with such documents and opinions as they may reasonably require for the purpose of enabling them to pass upon the issuance and sale of the Securities as herein contemplated, or in order to evidence the
accuracy of any of the representations or warranties, or the fulfillment of any of the conditions, contained in this Agreement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">27 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(l) <I>Securities Act Filings Made</I>. All filings with the Commission required by Rule 424
under the Securities Act to have been filed prior to the issuance of any Placement Notice hereunder shall have been made within the applicable time period prescribed for such filing by Rule 424. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(m) <I>Termination of Agreement</I>. If any condition specified in this Section&nbsp;9 shall not have been fulfilled when and as required to
be fulfilled, this Agreement may be terminated by Goldman Sachs by notice to the Company, and such termination shall be without liability of any party to any other party except as provided in Section&nbsp;8 hereof and except that, in the case of any
termination of this Agreement, Sections&nbsp;5, 10, 11, 12 and 22 hereof shall survive such termination and remain in full force and effect. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 10. <U>Indemnification</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Indemnification by the Company</I>. The Company agrees to indemnify and hold harmless Goldman Sachs, its affiliates (as such term is
defined in Rule 501(b) of the Securities Act), and each person, if any, who controls Goldman Sachs within the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) against any and all loss, liability, claim, damage and expense whatsoever, as incurred, arising out of any untrue statement
or alleged untrue statement of a material fact contained in the Registration Statement (or any amendment thereto), including any information deemed to be a part thereof pursuant to Rule 430B, or the omission or alleged omission therefrom of a
material fact required to be stated therein or necessary to make the statements therein not misleading, or arising out of any untrue statement or alleged untrue statement of a material fact included (A)&nbsp;in any Issuer Free Writing Prospectus or
the Prospectus (or any amendment or supplement thereto) or (B)&nbsp;in any materials or information provided to investors by, or with the approval of, the Company in connection with the marketing of any offering of Securities (&#147;<U>Marketing
Materials&#148;)</U>, including any roadshow or investor presentations made to investors by the Company (whether in person or electronically), or the omission or alleged omission therefrom of a material fact necessary in order to make the statements
therein, in the light of the circumstances under which they were made, not misleading; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) against any and all loss,
liability, claim, damage and expense whatsoever, as incurred, to the extent of the aggregate amount paid in settlement of any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or of any claim
whatsoever based upon any such untrue statement or omission, or any such alleged untrue statement or omission; provided that (subject to Section&nbsp;10(d) below) any such settlement is effected with the written consent of the Company; and </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">28 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) against any and all expense whatsoever, as incurred (including the fees and
disbursements of counsel chosen by Goldman Sachs), reasonably incurred in investigating, preparing or defending against any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or any claim
whatsoever based upon any such untrue statement or omission, or any such alleged untrue statement or omission, to the extent that any such expense is not paid under (i)&nbsp;or (ii) above, </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>provided</I>, <I>however</I>, that this indemnity agreement shall not apply to any loss, liability, claim, damage or expense to the extent arising out of
any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with information furnished to the Company in writing by Goldman Sachs expressly for use therein, it being understood and agreed that the
only such information furnished by Goldman Sachs as of the date hereof consists of the Agent Information. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <I>Indemnification by
Goldman Sachs</I>. Goldman Sachs agrees to indemnify and hold harmless the Company, its trustees, each of its officers who signed the Registration Statement, and each person, if any, who controls the Company within the meaning of Section&nbsp;15 of
the Securities Act or Section&nbsp;20 of the Exchange Act against any and all loss, liability, claim, damage and expense described in the indemnity contained in subsection (a)&nbsp;of this Section&nbsp;10, as incurred, but only with respect to
untrue statements or omissions, or alleged untrue statements or omissions, made in the Registration Statement (or any amendment thereto), any Issuer Free Writing Prospectus or the Prospectus (or any amendment or supplement thereto) in reliance upon
and in conformity with information furnished to the Company in writing by Goldman Sachs expressly for use therein, it being understood and agreed that the only such information furnished by Goldman Sachs as of the date hereof consists of the Agent
Information. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <I>Actions against Parties; Notification</I>. Each indemnified party shall give notice as promptly as reasonably
practicable to each indemnifying party of any action commenced against it in respect of which indemnity may be sought hereunder, but failure to so notify an indemnifying party shall not relieve such indemnifying party from any liability hereunder to
the extent it is not materially prejudiced as a result thereof and in any event shall not relieve it from any liability which it may have otherwise than on account of this indemnity agreement. Counsel to the indemnified parties shall be selected as
follows: counsel to Goldman Sachs and each person, if any, who controls Goldman Sachs within the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act shall be selected by Goldman Sachs; and counsel to the Company,
its trustees, each of its officers who signed the Registration Statement and each person, if any, who controls the Company within the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act shall be selected by the
Company. An indemnifying party may participate at its own expense in the defense of any such action; <I>provided</I>, <I>however</I>, that counsel to the indemnifying party shall not (except with the consent of the indemnified party) also be counsel
to the indemnified party. In no event shall the indemnifying parties be liable for the fees and expenses of more than one counsel (in addition to any local counsel) separate from their own counsel for Goldman Sachs and each person, if any, who
controls Goldman Sachs within the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act, and the fees and expenses of more than one counsel (in addition to any local counsel) separate from their own counsel for the
Company, its trustees, each of its officers who signed the Registration Statement and each person, if any, who controls the Company within the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act, in each case in
connection with any one </P>
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action or separate but similar or related actions in the same jurisdiction arising out of the same general allegations or circumstances. No indemnifying party shall, without the prior written
consent of the indemnified parties, settle or compromise or consent to the entry of any judgment with respect to any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or any claim whatsoever
in respect of which indemnification or contribution could be sought under this Section&nbsp;10 or Section&nbsp;11 hereof (whether or not the indemnified parties are actual or potential parties thereto), unless such settlement, compromise or consent
(i)&nbsp;includes an unconditional release of each indemnified party from all liability arising out of such litigation, investigation, proceeding or claim and (ii)&nbsp;does not include a statement as to or an admission of fault, culpability or a
failure to act by or on behalf of any indemnified party. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <I>Settlement Without Consent if Failure to Reimburse</I>. If at any time an
indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel, such indemnifying party agrees that it shall be liable for any settlement of the nature contemplated by
Section&nbsp;10(a)(ii) effected without its written consent if (i)&nbsp;such settlement is entered into more than 45 days after receipt by such indemnifying party of the aforesaid request, (ii)&nbsp;such indemnifying party shall have received notice
of the terms of such settlement at least 30 days prior to such settlement being entered into and (iii)&nbsp;such indemnifying party shall not have reimbursed such indemnified party in accordance with such request prior to the date of such
settlement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 11. <U>Contribution</U>. If the indemnification provided for in Section&nbsp;10 hereof is for any reason unavailable
to or insufficient to hold harmless an indemnified party in respect of any losses, liabilities, claims, damages or expenses referred to therein, then each indemnifying party shall contribute to the aggregate amount of such losses, liabilities,
claims, damages and expenses incurred by such indemnified party, as incurred, (i)&nbsp;in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and Goldman Sachs on the other hand from the
offering of the Securities pursuant to this Agreement or (ii)&nbsp;if the allocation provided by clause (i)&nbsp;is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause
(i)&nbsp;above but also the relative fault of the Company on the one hand and of Goldman Sachs on the other hand in connection with the statements or omissions. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The relative benefits received by the Company on the one hand and Goldman Sachs on the other hand in connection with the offering of the
Securities pursuant to this Agreement shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Securities pursuant to this Agreement (before deducting expenses) received by the Company and the total
commissions received by Goldman Sachs, in each case as set forth on the cover of the Prospectus, bear to the aggregate public offering price of the Securities as set forth on such cover. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The relative fault of the Company on the one hand and Goldman Sachs on the other hand shall be determined by reference to, among other things,
whether the untrue or the alleged untrue statement of a material fact or omission or alleged omission to state a material fact relates to information supplied by the Company or by Goldman Sachs and the parties&#146; relative intent, knowledge,
access to information and opportunity to correct or prevent such statement or omission. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">30 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company and Goldman Sachs agree that it would not be just and equitable if contribution
pursuant to this Section&nbsp;11 were determined by pro rata allocation or by any other method of allocation which does not take account of the equitable considerations referred to above in this Section&nbsp;11. The aggregate amount of losses,
liabilities, claims, damages and expenses incurred by an indemnified party and referred to above in this Section&nbsp;11 shall be deemed to include any legal or other expenses reasonably incurred by such indemnified party in investigating, preparing
or defending against any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or any claim whatsoever based upon any such untrue or alleged untrue statement or omission or alleged omission. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Notwithstanding the provisions of this Section&nbsp;11, Goldman Sachs shall not be required to contribute any amount in excess of the amount
by which the total price at which the Securities underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages which Goldman Sachs has otherwise been required to pay by reason of any such untrue or
alleged untrue statement or omission or alleged omission. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">No person guilty of fraudulent misrepresentation (within the meaning of
Section&nbsp;11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">For purposes of this Section&nbsp;11, each person, if any, who controls Goldman Sachs within the meaning of Section&nbsp;15 of the Securities
Act or Section&nbsp;20 of the Exchange Act shall have the same rights to contribution as Goldman Sachs, and each trustee of the Company, each officer of the Company who signed the Registration Statement, and each person, if any, who controls the
Company within the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act shall have the same rights to contribution as the Company. The Alternative Placement Agents&#146; respective obligations to contribute
pursuant to this Section&nbsp;11 are several in proportion to the number of Securities placed or underwritten by it in the applicable offering.<U> </U> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 12. <U>Representations, Warranties and Agreements to Survive Delivery</U>. All representations, warranties and agreements contained in
this Agreement or in certificates of officers of the Company or any of its subsidiaries submitted pursuant hereto, shall remain operative and in full force and effect, regardless of any investigation made by or on behalf of Goldman Sachs or
controlling person, or by or on behalf of the Company, and shall survive delivery of the Securities to Goldman Sachs. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 13.
<U>Termination of Agreement</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Termination; General</I>. Goldman Sachs may terminate this Agreement, by notice to the Company,
as hereinafter specified at any time (i)&nbsp;if there has been, since the time of execution of this Agreement or since the date as of which information is given in the Prospectus, any material adverse change in the condition, financial or
otherwise, or in the results of operations, business affairs or business prospects of the Company and its subsidiaries considered </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">31 </P>


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as one enterprise, whether or not arising in the ordinary course of business, or (ii)&nbsp;if there has occurred any material adverse change in the financial markets in the United States or the
international financial markets, any outbreak of hostilities or escalation thereof or other calamity or crisis or any change or development involving a prospective change in national or international political, financial or economic conditions, in
each case the effect of which is such as to make it, in the judgment of Goldman Sachs, impracticable or inadvisable to market the Securities or to enforce contracts for the sale of the Securities, or (iii)&nbsp;if trading in the Placement Securities
has been suspended or limited by the Commission or the NYSE, or if trading generally on the NYSE American, the NYSE or the Nasdaq Stock Market has been suspended or limited, or minimum or maximum prices for trading have been fixed, or maximum ranges
for prices have been required, by any of said exchanges or by order of the Commission, the FINRA or any other governmental authority, or a material disruption has occurred in commercial banking or securities settlement or clearance services in the
United States or in Europe, or (iv)&nbsp;if a banking moratorium has been declared by either Federal or New York authorities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b)
<I>Termination by the Company</I>. The Company shall have the right, by giving three (3)&nbsp;days&#146; notice as hereinafter specified to terminate this Agreement in their sole discretion at any time after the date of this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <I>Termination by Goldman Sachs</I>. Goldman Sachs shall have the right, by giving three (3)&nbsp;days&#146; notice as hereinafter
specified to terminate this Agreement in its sole discretion at any time after the date of this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <I>Automatic
Termination</I>. Unless earlier terminated pursuant to this Section&nbsp;13, this Agreement shall automatically terminate upon the issuance and sale of all of the Placement Securities through Goldman Sachs and the Alternative Placement Agents on the
terms and subject to the conditions set forth herein and in the Alternative Equity Distribution Agreements with an aggregate sale price equal to the amount set forth in Section&nbsp;1 of this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) <I>Continued Force and Effect</I>. This Agreement shall remain in full force and effect unless terminated pursuant to Sections&nbsp;13(a),
(b), (c) or (d)&nbsp;above or otherwise by mutual agreement of the parties. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) <I>Effectiveness of Termination</I>. Any termination of
this Agreement shall be effective on the date specified in such notice of termination; <I>provided</I>, <I>however</I>, that such termination shall not be effective until the close of business on the date of receipt of such notice by Goldman Sachs
or the Company, as the case may be. If such termination shall occur prior to the Settlement Date for any sale of Placement Securities, such Placement Securities shall settle in accordance with the provisions of this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) <I>Liabilities</I>. If this Agreement is terminated pursuant to this Section&nbsp;13, such termination shall be without liability of any
party to any other party except as provided in Section&nbsp;8 hereof, and except that, in the case of any termination of this Agreement, Section&nbsp;5, Section&nbsp;10, Section&nbsp;11, Section&nbsp;12, and Section&nbsp;22 hereof shall survive such
termination and remain in full force and effect. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">32 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 14. <U>Notices</U>. Except as otherwise provided in this Agreement, all notices and other
communications hereunder shall be in writing and shall be deemed to have been duly given if mailed or transmitted by any standard form of telecommunication. Notices to Goldman Sachs shall be directed to Goldman Sachs at Goldman Sachs&nbsp;&amp; Co.
LLC, 200 West Street, New York, New York 10282-2198, Attention: Registration Department; notices to the Company shall be directed to it at 1775 Eye Street NW, Suite 1000, Washington, D.C. 20006, fax no. (212)
<FONT STYLE="white-space:nowrap">379-3554,</FONT> Attention of Stephen E. Riffee, Chief Financial Officer, cc: Taryn D. Fielder, General Counsel. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 15. <U>Parties</U>. This Agreement shall inure to the benefit of and be binding upon Goldman Sachs, the Company and their respective
successors. Nothing expressed or mentioned in this Agreement is intended or shall be construed to give any person, firm or corporation, other than Goldman Sachs, the Company and their respective successors and the controlling persons and officers
and trustees referred to in Sections&nbsp;10 and 11 and their heirs and legal representatives, any legal or equitable right, remedy or claim under or in respect of this Agreement or any provision herein contained. This Agreement and all conditions
and provisions hereof are intended to be for the sole and exclusive benefit of Goldman Sachs, the Company and their respective successors, and said controlling persons and officers and trustees and their heirs and legal representatives, and for the
benefit of no other person, firm or corporation. No purchaser of Securities from Goldman Sachs shall be deemed to be a successor by reason merely of such purchase. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 16. <U>Adjustments for Stock Splits</U>. The parties acknowledge and agree that all stock-related numbers contained in this Agreement
shall be adjusted to take into account any stock split, stock dividend or similar event effected with respect to the Securities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION
17. <U>Governing Law; Time and Jurisdiction</U>. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. <B></B>SPECIFIED TIMES OF DAY REFER TO NEW YORK CITY TIME. Any action, suit or proceeding to
enforce any provision of, or based on any matter arising out of or in connection with, this Agreement or the transactions contemplated hereby shall be brought in any federal court located in the Southern District of the State of New York or any New
York state court located in the Borough of Manhattan, and the Company agrees to the exclusive jurisdiction of such courts (and of the appropriate appellate courts therefrom) and each party waives (to the full extent permitted by law) any objection
it may have to the laying of venue of any such suit, action or proceeding in any such court or that any such suit, action or proceeding has been brought in an inconvenient forum. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 18. <U>Effect of Headings</U>. The Section and Exhibit headings herein are for convenience only and shall not affect the construction
hereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 19. <U>Counterparts</U>. This Agreement may be executed in two or more counterparts, each of which shall be deemed an
original, but all of which together shall constitute one and the same instrument. Delivery of an executed Agreement by one party to the other may be made by facsimile or <FONT STYLE="white-space:nowrap">e-mail</FONT> transmission. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">33 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 20. <U>Definitions</U>. As used in this Agreement, the following terms have the
respective meanings set forth below: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Applicable Time</U>&#148; means the time of each sale of any Securities or any securities
pursuant to this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Commission</U>&#148; means the Securities and Exchange Commission. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>EDGAR</U>&#148; means the Commission&#146;s Electronic Data Gathering, Analysis and Retrieval system. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Exchange Act</U>&#148; means the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission
thereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>FINRA</U>&#148; means the Financial Industry Regulatory Authority, Inc. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>GAAP</U>&#148; means generally accepted accounting principles. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Investment Company Act</U>&#148; means the Investment Company Act of 1940, as amended. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Issuer Free Writing Prospectus</U>&#148; means any &#147;issuer free writing prospectus,&#148; as defined in Rule 433, relating to
the Securities that (i)&nbsp;is required to be filed with the Commission by the Company, (ii)&nbsp;is a &#147;road show&#148; that is a &#147;written communication&#148; within the meaning of Rule 433(d)(8)(i) whether or not required to be filed
with the Commission, or (iii)&nbsp;is exempt from filing pursuant to Rule 433(d)(5)(i) because it contains a description of the Securities or of the offering that does not reflect the final terms, and all free writing prospectuses that are listed in
<U>Exhibit G</U> hereto, in each case in the form furnished (electronically or otherwise) to Goldman Sachs for use in connection with the offering of the Securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>NYSE</U>&#148; means the New York Stock Exchange. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Rule 163</U>,&#148; &#147;<U>Rule 164</U>,&#148; &#147;<U>Rule 172</U>,&#148; &#147;<U>Rule 405</U>,&#148; &#147;<U>Rule
415</U>,&#148; &#147;<U>Rule 424(b)</U>,&#148; &#147;<U>Rule 430B</U>,&#148; &#147;<U>Rule 433</U>&#148; and &#147;<U>Rule 462(b)</U>&#148; refer to such rules under the Securities Act. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Rule 462(b) Registration Statement</U>&#148; means a registration statement filed by the Company pursuant to Rule 462(b) for the
purpose of registering any of the Securities under the Securities Act, including the documents incorporated by reference therein and the Rule 430A Information. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Sarbanes-Oxley Act</U>&#148; means the Sarbanes-Oxley Act of 2002 and the rules and regulations promulgated thereunder or
implementing the provisions thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Securities Act</U>&#148; means the Securities Act of 1933, as amended, and the rules and
regulations of the Commission thereunder. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">34 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">All references in this Agreement to financial statements and schedules and other information that
is &#147;contained,&#148; &#147;included&#148; or &#147;stated&#148; in the Registration Statement or the Prospectus (and all other references of like import) shall be deemed to mean and include all such financial statements and schedules and other
information that is incorporated by reference in the Registration Statement or the Prospectus, as the case may be. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">All references in this
Agreement to the Registration Statement, any Rule 462(b) Registration Statement, the Prospectus or any amendment or supplement to any of the foregoing shall be deemed to include the copy filed with the Commission pursuant to EDGAR; all references in
this Agreement to any Issuer Free Writing Prospectus (other than any Issuer Free Writing Prospectuses that, pursuant to Rule 433, are not required to be filed with the Commission) shall be deemed to include the copy thereof filed with the Commission
pursuant to EDGAR; and all references in this Agreement to &#147;supplements&#148; to the Prospectus shall include, without limitation, any supplements, &#147;wrappers&#148; or similar materials prepared in connection with any offering, sale or
private placement of any Placement Securities by Goldman Sachs outside of the United States. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 21. <U>Permitted Free Writing
Prospectuses</U>. The Company represents, warrants and agrees that, unless it obtains the prior consent of Goldman Sachs, and Goldman Sachs represents, warrants and agrees that, unless it obtains the prior consent of the Company, it has not made and
will not make any offer relating to the Securities that would constitute an Issuer Free Writing Prospectus, or that would otherwise constitute a &#147;free writing prospectus,&#148; as defined in Rule 405, required to be filed with the Commission.
Any such free writing prospectus consented to by Goldman Sachs or by the Company, as the case may be, is hereinafter referred to as a &#147;Permitted Free Writing Prospectus.&#148; The Company represents and warrants that it has treated and agrees
that it will treat each Permitted Free Writing Prospectus as an &#147;issuer free writing prospectus,&#148; as defined in Rule 433, and has complied and will comply with the requirements of Rule 433 applicable to any Permitted Free Writing
Prospectus, including timely filing with the Commission where required, legending and record keeping. For the purposes of clarity, the parties hereto agree that all free writing prospectuses, if any, listed in <U>Exhibit G</U> hereto are Permitted
Free Writing Prospectuses. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 22. <U>Absence of Fiduciary Relationship</U>. The Company acknowledges and agrees that: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Goldman Sachs is acting solely as agent and/or principal in connection with the public offering of the Securities and in connection with
each transaction contemplated by this Agreement and the process leading to such transactions, and no fiduciary or advisory relationship between the Company or any of its respective affiliates, stockholders (or other equity holders), creditors or
employees or any other party, on the one hand, and Goldman Sachs, on the other hand, has been or will be created in respect of any of the transactions contemplated by this Agreement, irrespective of whether or not Goldman Sachs has advised or is
advising the Company on other matters, and Goldman Sachs has no obligation to the Company with respect to the transactions contemplated by this Agreement except the obligations expressly set forth in this Agreement; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">35 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) any public offering price of the Securities set forth in this Agreement was not established
by Goldman Sachs; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) it is capable of evaluating and understanding, and understands and accepts, the terms, risks and conditions of the
transactions contemplated by this Agreement; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Goldman Sachs has not provided any legal, accounting, regulatory or tax advice with
respect to the transactions contemplated by this Agreement and it has consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) it is aware that Goldman Sachs and its respective affiliates are engaged in a broad range of transactions which may involve interests that
differ from those of the Company and Goldman Sachs has no obligation to disclose such interests and transactions to the Company by virtue of any fiduciary, advisory or agency relationship or otherwise; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) it waives, to the fullest extent permitted by law, any claims it may have against Goldman Sachs for breach of fiduciary duty or alleged
breach of fiduciary duty and agrees that Goldman Sachs shall not have any liability (whether direct or indirect, in contract, tort or otherwise) to it in respect of such a fiduciary duty claim or to any person asserting a fiduciary duty claim on its
behalf or in right of it or the Company, employees or creditors of Company. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">36 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If the foregoing is in accordance with your understanding of our agreement, please sign and
return to the Company a counterpart hereof, whereupon this instrument, along with all counterparts, will become a binding agreement between Goldman Sachs and the Company in accordance with its terms. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Very truly yours,</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">WASHINGTON REAL ESTATE INVESTMENT TRUST</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Stephen E. Riffee</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Stephen E. Riffee</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Executive Vice President and</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Chief Financial
Officer</P></TD></TR>
</TABLE></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="5%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="93%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-2.00em; font-size:10pt; font-family:Times New Roman">CONFIRMED AND ACCEPTED, as of the date first above written:</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">GOLDMAN SACHS&nbsp;&amp; CO. LLC</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Ian Taylor</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Authorized Signatory&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">37 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT A </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>FORM OF PLACEMENT NOTICE </U></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="5%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="93%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">From:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">[&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;]</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Cc:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">[` &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;]</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">To:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">[&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;]</TD></TR>
</TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Subject: Equity Distribution&#151;Placement Notice </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Gentlemen: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the terms and subject
to the conditions contained in the Equity Distribution Agreement between Washington Real Estate Investment Trust (the &#147;<U>Company</U>&#148;) and Goldman Sachs&nbsp;&amp; Co. LLC (&#147;<U>Goldman Sachs</U>&#148;) dated May&nbsp;4, 2018 (the
&#147;<U>Agreement</U>&#148;), I hereby request on behalf of the Company that Goldman Sachs sell up to [&#149;] [or $[&#149;] in aggregate offering price of] Common Shares of Beneficial Interest, par value $0.01 per share (the
&#147;<U>Securities</U>&#148;), at a minimum market price of $[&#149;] per share. The Company shall pay Goldman Sachs compensation equal to [&#149;]% of the gross proceeds from the sale of the Securities set forth in this Placement Notice. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>[ADDITIONAL SALES PARAMETERS MAY BE ADDED, SUCH AS THE TIME PERIOD IN WHICH SALES ARE REQUESTED TO BE MADE, SPECIFIC DATES THE SHARES MAY NOT BE SOLD ON,
THE MANNER IN WHICH SALES ARE TO BE MADE BY GOLDMAN SACHS, AND/OR THE CAPACITY IN WHICH GOLDMAN SACHS MAY ACT IN SELLING SHARES (AS PRINCIPAL, AGENT, OR BOTH)] </B></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A-1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT B </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>AUTHORIZED INDIVIDUALS FOR PLACEMENT NOTICES AND ACCEPTANCES </U></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Goldman Sachs&nbsp;&amp; Co. LLC </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ian Taylor </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email: <U>ian.taylor@gs.com</U> </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Washington Real Estate
Investment Trust </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Stephen E. Riffee </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email:
<U>sriffee@washreit.com</U> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Paul T. McDermott </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email:
<U>pmcdermott@washreit.com</U> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Taryn D. Fielder </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email:
<U>tfielder@washreit.com</U> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">B-1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT C </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>COMPENSATION </U></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Goldman
Sachs shall be paid compensation equal to up to 2.0% of the gross proceeds from the sales of Securities pursuant to the terms of this Agreement. The actual compensation paid to Goldman Sachs shall be set forth in the applicable Placement Notice.
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">C-1 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT D </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>SIGNIFICANT SUBSIDIARIES OF THE COMPANY </U></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="35%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="30%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="30%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:20.00pt; display:inline; font-size:8pt; font-family:Times New Roman; "><B>Name</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman"><B>Jurisdiction of</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1.00pt solid #000000; width:49.45pt; display:inline; font-size:8pt; font-family:Times New Roman; "><B>Organization</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:49.30pt; display:inline; font-size:8pt; font-family:Times New Roman; "><B>Type of Entity</B></P></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">WashREIT OP LLC</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Delaware</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Limited Liability Company</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">WashREIT OP Sub DC LLC</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Delaware</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Limited Liability Company</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">D-1 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT E </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>FORM OF OPINIONS OF COMPANY COUNSEL </U></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">E-1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT F </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>OFFICER CERTIFICATE </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The
undersigned [&#149;], the duly qualified and elected [&#149;] of Washington Real Estate Investment Trust (&#147;<U>Company</U>&#148;), a Maryland real estate investment trust, does hereby certify in such capacity and on behalf of the Company,
pursuant to Section&nbsp;7(n) of each of the Equity Distribution Agreements dated May&nbsp;4, 2018 (collectively, the &#147;<U>Agreements</U>&#148;) between the Company and each of Wells Fargo Securities, LLC, BNY Mellon Capital Markets, LLC,
Capital One Securities, Inc., Citigroup Global Markets Inc., Goldman Sachs&nbsp;&amp; Co. LLC, J.P. Morgan Securities LLC, KeyBanc Capital Markets Inc. and SunTrust Robinson Humphrey, Inc. (collectively, the &#147;<U>Agents</U>&#148;) that to the
knowledge of the undersigned: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The representations and warranties of the Company in Section&nbsp;5 of each of the Agreements (A)&nbsp;to
the extent such representations and warranties are subject to qualifications and exceptions contained therein relating to materiality or Material Adverse Effect, are true and correct on and as of the date hereof with the same force and effect as if
expressly made on and as of the date hereof, except for those representations and warranties that speak solely as of a specific date and which were true and correct as of such date, and (B)&nbsp;to the extent such representations and warranties are
not subject to any qualifications or exceptions, are true and correct in all material respects as of the date hereof as if made on and as of the date hereof with the same force and effect as if expressly made on and as of the date hereof except for
those representations and warranties that speak solely as of a specific date and which were true and correct as of such date; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The
Company has complied in all material respects with all agreements and satisfied all conditions on their part to be performed or satisfied pursuant to each of the Agreements at or prior to the date hereof (other than those conditions waived by the
Agents). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT G </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>ISSUER FREE WRITING PROSPECTUSES </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">None </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">G-1 </P>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-1.6
<SEQUENCE>7
<FILENAME>d582540dex16.htm
<DESCRIPTION>EX-1.6
<TEXT>
<HTML><HEAD>
<TITLE>EX-1.6</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 1.6 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Washington Real Estate Investment Trust </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">$250,000,000 of Common Shares of Beneficial Interest </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EQUITY DISTRIBUTION AGREEMENT </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dated:
May&nbsp;4, 2018 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TABLE OF CONTENTS </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="96%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Page</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 1. Description of Securities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2. Placements</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 3. Sale of Placement Securities by J.P. Morgan Securities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4. Suspension of Sales</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 5. Representations and Warranties</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6. Sale and Delivery to J.P. Morgan Securities; Settlement</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7. Covenants of the Company</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 8. Payment of Expenses</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 9. Conditions of J.P. Morgan Securities&#146; Obligations</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 10. Indemnification</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">28</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11. Contribution</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">31</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 12. Representations, Warranties and Agreements to Survive Delivery</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">32</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 13. Termination of Agreement</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">32</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 14. Notices</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 15. Parties</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 16. Adjustments for Stock Splits</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 17. Governing Law; Time and Jurisdiction</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 18. Effect of Headings</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 19. Counterparts</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 20. Definitions</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 21. Permitted Free Writing Prospectuses</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 22. Absence of Fiduciary Relationship</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">36</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">i </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXHIBITS </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="7%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="89%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Exhibit&nbsp;A</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">&#150;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Form of Placement Notice</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Exhibit B</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">&#150;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Authorized Individuals for Placement Notices and Acceptances</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Exhibit C</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">&#150;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Compensation</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Exhibit D</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">&#150;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Significant Subsidiaries of the Company</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Exhibit E</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">&#150;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Form of Opinions of Company Counsel</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Exhibit F</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">&#150;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Officer Certificate</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Exhibit G</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">&#150;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Issuer Free Writing Prospectus</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ii </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Washington Real Estate Investment Trust </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">$250,000,000 of Common Shares of Beneficial Interest </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>EQUITY DISTRIBUTION AGREEMENT </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">May&nbsp;4, 2018 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">J.P. Morgan&nbsp;Securities LLC
</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">383 Madison Avenue </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">New York, New York 10179 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ladies and Gentlemen: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Washington Real Estate
Investment Trust, a Maryland real estate investment trust (the &#147;<U>Company</U>&#148;), confirms its agreement (this &#147;<U>Agreement</U>&#148;) with J.P. Morgan&nbsp;Securities LLC (&#147;<U>J.P. Morgan Securities</U>&#148;), as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 1. <U>Description of Securities</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company agrees that, from time to time during the term of this Agreement, on the terms and subject to the conditions set forth herein, it
may issue and sell through J.P. Morgan Securities, acting as agent and/or principal, Common Shares of Beneficial Interest, par value $0.01 per share (the &#147;<U>Common Stock</U>&#148;), having an aggregate sale price of up to $250,000,000 (such
Common Shares, the &#147;Securities&#148;, and such maximum amount, the &#147;<U>Maximum Amount</U>&#148;). Notwithstanding anything to the contrary contained herein, the parties hereto agree that compliance with the limitations set forth in this
Section&nbsp;1 regarding the aggregate sale price of the Securities issued and sold under this Agreement shall be the sole responsibility of the Company, and J.P. Morgan Securities shall have no obligation in connection with such compliance. The
issuance and sale of the Securities through J.P. Morgan Securities will be effected pursuant to the Registration Statement (as defined below) filed by the Company with the Securities and Exchange Commission (the &#147;<U>Commission</U>&#148;), which
became effective upon filing, although nothing in this Agreement shall be construed as requiring the Company to use the Registration Statement to issue the Securities. The Company agrees that whenever it determines to sell Securities directly to
J.P. Morgan Securities as principal it will enter into a separate written agreement containing the terms and conditions of such sale. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The
Company has also entered into separate equity distribution agreements with respect to the Securities (each, an &#147;<U>Alternative Equity Distribution Agreement</U>&#148; and collectively, the &#147;<U>Alternative Equity Distribution
Agreements</U>&#148;), each dated as of the date hereof, with Wells Fargo Securities, LLC, BNY Mellon Capital Markets, LLC, Capital One Securities, Inc., Citigroup Global Markets Inc., Goldman Sachs&nbsp;&amp; Co. LLC, KeyBanc&nbsp;Capital Markets
Inc. and SunTrust Robinson&nbsp;Humphrey, Inc. (each, an &#147;<U>Alternative Placement Agent</U>&#148; and collectively, the &#147;<U>Alternative Placement Agents</U>&#148;, and, together with J.P. Morgan Securities, the &#147;<U>Agents</U>&#148;).
The aggregate offering price of the Securities that may be sold pursuant to this Agreement and the Alternative Equity Distribution Agreements collectively shall not exceed the Maximum Amount. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company has filed, in accordance with the provisions of the Securities Act, with the
Commission a registration statement on Form <FONT STYLE="white-space:nowrap">S-3</FONT> (File <FONT STYLE="white-space:nowrap">No.&nbsp;333-224135),</FONT> including a base prospectus, relating to certain securities, including the Securities to be
issued from time to time by the Company, and which incorporates by reference documents that the Company has filed or will file in accordance with the provisions of the Securities Exchange Act of 1934, as amended, and the rules and regulations
thereunder (collectively, the &#147;<U>Exchange Act</U>&#148;). The Company has prepared a prospectus supplement specifically relating to the Securities (the &#147;<U>Prospectus Supplement</U>&#148;) to the base prospectus included as part of such
registration statement. The Company will furnish to J.P. Morgan Securities, for use by J.P. Morgan Securities, copies of the prospectus included as part of such registration statement, as supplemented by the Prospectus Supplement, relating to the
Securities. The &#147;<U>Registration Statement</U>&#148;, as of any time, means such registration statement as amended by any post-effective amendments thereto at such time, including the exhibits and any schedules thereto at such time, the
documents incorporated or deemed to be incorporated by reference therein at such time pursuant to Item 12 of Form <FONT STYLE="white-space:nowrap">S-3</FONT> under the Securities Act and the documents and information otherwise deemed to be a part
thereof as of such time pursuant to Rule 430B of the Securities Act (&#147;<U>Rule 430B</U>&#148;); <I>provided</I>, <I>however</I>, that the &#147;Registration Statement&#148; without reference to a time means such registration statement as amended
by any post-effective amendments thereto as of the time of the first contract of sale for the Securities, which time shall be considered the &#147;new effective date&#148; of the Registration Statement with respect to the Securities within the
meaning of paragraph (f)(2) of Rule 430B, including the exhibits and schedules thereto at such time, the documents and information incorporated or deemed to be incorporated by reference therein at such time pursuant to Item 12 of Form <FONT
STYLE="white-space:nowrap">S-3</FONT> under the Securities Act and the documents otherwise deemed to be a part thereof as of such time pursuant to Rule 430B. The base prospectus, including all documents incorporated therein by reference, included in
the Registration Statement, as it may be supplemented by the Prospectus Supplement, in the form in which such prospectus and/or Prospectus Supplement have most recently been filed by the Company with the Commission pursuant to Rule 424(b) under the
Securities Act is herein called the &#147;<U>Prospectus</U>.&#148; Any reference herein to the Registration Statement, the Prospectus or any amendment or supplement thereto shall be deemed to refer to and include the documents incorporated by
reference therein, and any reference herein to the terms &#147;amend,&#148; &#147;amendment&#148; or &#147;supplement&#148; with respect to the Registration Statement or the Prospectus shall be deemed to refer to and include the filing after the
execution hereof of any document with the Commission deemed to be incorporated by reference therein. For purposes of this Agreement, all references to the Registration Statement, the Prospectus or to any amendment or supplement thereto shall be
deemed to include any copy filed with the Commission pursuant to EDGAR. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 2. <U>Placements</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each time that the Company wishes to issue and sell the Securities hereunder (each, a &#147;<U>Placement</U>&#148;), it will notify J.P.
Morgan Securities by email notice (or other method mutually agreed to in writing by the parties) containing the parameters in accordance with which it desires the Securities to be sold, which shall at a minimum include the number or dollar amount of
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Securities to be issued (the &#147;<U>Placement Securities</U>&#148;), the time period during which sales are requested to be made, any limitation on the number or dollar amount of Securities
that may be sold in any one day and any minimum price below which sales may not be made (a &#147;<U>Placement Notice</U>&#148;), a form of which containing such minimum sales parameters necessary is attached hereto as <U>Exhibit A</U>. The Placement
Notice shall originate from any of the individuals from the Company set forth on <U>Exhibit B</U> (with a copy to each of the other individuals from the Company listed on such schedule), and shall be addressed to each of the individuals from J.P.
Morgan Securities set forth on <U>Exhibit B</U>, as such <U>Exhibit B</U> may be amended from time to time. If J.P. Morgan Securities wishes to accept such proposed terms included in the Placement Notice (which it may decline to do so for any reason
in its sole discretion) or, following discussion with the Company, wishes to accept amended terms, J.P. Morgan Securities will, prior to 4:30 p.m. (New York City time) on the Business Day following the Business Day on which such Placement Notice is
delivered to J.P. Morgan Securities, issue to the Company a notice by email (or other method mutually agreed to in writing by the parties) addressed to all of the individuals from the Company and J.P. Morgan Securities set forth on <U>Exhibit B</U>)
setting forth the terms that J.P. Morgan Securities is willing to accept. Where the terms provided in the Placement Notice are amended as provided for in the immediately preceding sentence, such terms will not be binding on the Company or J.P.
Morgan Securities until the Company delivers to J.P. Morgan Securities an acceptance by email (or other method mutually agreed to in writing by the parties) of all of the terms of such Placement Notice, as amended (the
&#147;<U>Acceptance</U>&#148;), which email shall be addressed to all of the individuals from the Company and J.P. Morgan Securities set forth on <U>Exhibit B</U>. The Placement Notice (as amended by the corresponding Acceptance, if applicable)
shall be effective upon receipt by the Company of J.P. Morgan Securities&#146; acceptance of the terms of the Placement Notice or upon receipt by J.P. Morgan Securities of the Company&#146;s Acceptance, as the case may be, unless and until
(i)&nbsp;the entire amount of the Placement Securities has been sold, (ii)&nbsp;in accordance with the notice requirements set forth in the second sentence of this paragraph, the Company terminates the Placement Notice, (iii)&nbsp;the Company issues
a subsequent Placement Notice with parameters superseding those on the earlier dated Placement Notice, (iv)&nbsp;this Agreement has been terminated under the provisions of Section&nbsp;13 or (v)&nbsp;either party shall have suspended the sale of the
Placement Securities in accordance with Section&nbsp;4 below. The amount of any discount, commission or other compensation to be paid by the Company to J.P. Morgan Securities in connection with the sale of the Placement Securities shall be
calculated in accordance with the terms set forth in <U>Exhibit C</U>. It is expressly acknowledged and agreed that neither the Company nor J.P. Morgan Securities will have any obligation whatsoever with respect to a Placement or any Placement
Securities unless and until the Company delivers a Placement Notice to J.P. Morgan Securities and either (i)&nbsp;J.P. Morgan Securities accepts the terms of such Placement Notice or (ii)&nbsp;where the terms of such Placement Notice are amended,
the Company accepts such amended terms by means of an Acceptance pursuant to the terms set forth above, and then only upon the terms specified in the Placement Notice (as amended by the corresponding Acceptance, if applicable) and herein. In the
event of a conflict between the terms of this Agreement and the terms of a Placement Notice (as amended by the corresponding Acceptance, if applicable), the terms of the Placement Notice (as amended by the corresponding Acceptance, if applicable)
will control. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company agrees that any offer to sell or any sales of Securities pursuant to this Agreement
or any Alternative Equity Distribution Agreement shall only be effected by or through only one of J.P. Morgan Securities or an Alternative Placement Agent on any single given day, and the Company shall in no event request that J.P. Morgan Securities
and an Alternative Placement Agent sell Securities on the same day; <I>provided, however, </I>that the foregoing limitation shall only apply with respect to an agency transaction and shall not apply to any&nbsp;principal transaction effected at any
time by any Agent and, provided further, such limitation shall not apply on any day during which no sales are made pursuant to this Agreement. Notwithstanding the foregoing or anything to the contrary contained herein, the Company shall be
permitted, at any time and from time to time, to engage one or more additional agents and/or principals, subject to such additional agents and/or principals executing the expense reimbursement agreement then in effect among the Agents relating only
to the sale of the Securities and the transactions contemplated by this Agreement and the Alternative Distribution Agreements, that, once engaged, may offer to sell, solicit an offer to buy or sell the Securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 3. <U>Sale of Placement Securities by J.P. Morgan Securities</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Subject to the provisions of Section&nbsp;6(a), J.P. Morgan Securities, for the period specified in the Placement Notice, will use its
commercially reasonable efforts consistent with its normal trading and sales practices to sell the Placement Securities up to the amount specified, and otherwise in accordance with the terms of such Placement Notice (as amended by the corresponding
Acceptance, if applicable). J.P. Morgan Securities will provide written confirmation to the Company no later than the opening of the Trading Day (as defined below) immediately following the Trading Day on which it has made sales of Placement
Securities hereunder setting forth the number of Placement Securities sold on such day, the compensation payable by the Company to J.P. Morgan Securities pursuant to Section&nbsp;2 with respect to such sales, and the Net Proceeds (as defined below)
payable to the Company, with an itemization of the deductions made by J.P. Morgan Securities (as set forth in Section&nbsp;6(b)) from the gross proceeds that it receives from such sales. Subject to the terms of the Placement Notice (as amended by
the corresponding Acceptance, if applicable), J.P. Morgan Securities may sell Placement Securities by any method permitted by law deemed to be an &#147;at the market&#148; offering as defined in Rule 415 under the Securities Act, including without
limitation sales made directly on the NYSE, on any other existing trading market for the Common Stock or to or through a market maker. Subject to the terms of the Placement Notice (as amended by the corresponding Acceptance, if applicable), J.P.
Morgan Securities may also sell Placement Securities by any other method permitted by law, including but not limited to in privately negotiated transactions, which may include block trades. The Company acknowledges and agrees that (i)&nbsp;there can
be no assurance that J.P. Morgan Securities will be successful in selling Placement Securities, and (ii)&nbsp;J.P. Morgan Securities will incur no liability or obligation to the Company or any other person or entity if it does not sell Placement
Securities for any reason other than a failure by J.P. Morgan Securities to use its commercially reasonable efforts consistent with its normal trading and sales practices to sell such Placement Securities as required under this Section&nbsp;3. For
the purposes hereof, &#147;<U>Trading Day</U>&#148; means any day on which shares of Common Stock are purchased and sold on the principal market on which the Common Stock is listed or quoted. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 4. <U>Suspension of Sales</U>. The Company or J.P. Morgan Securities may, upon notice to
the other party in writing (including by email correspondence to each of the individuals of the other party set forth on <U>Exhibit B</U>, if receipt of such correspondence is actually acknowledged by any of the individuals to whom the notice is
sent, other than via auto-reply) or by telephone (confirmed immediately by verifiable facsimile transmission or email correspondence to each of the individuals of the other party set forth on <U>Exhibit B</U>), suspend any sale of Placement
Securities; <I>provided</I>, <I>however</I>, that such suspension shall not affect or impair either party&#146;s obligations with respect to any Placement Securities sold hereunder prior to the receipt of such notice or any Placement Securities sold
under the Alternative Equity Distribution Agreements. Each of the parties agrees that no such notice under this Section&nbsp;4 shall be effective against the other unless it is made to one of the individuals named on <U>Exhibit B</U> hereto, as such
<U>Exhibit B</U> may be amended from time to time. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 5. <U>Representations and Warranties</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Representations and Warranties by the Company</I>. The Company represents and warrants to J.P. Morgan Securities as of the date hereof
and as of each Representation Date (as defined below) on which a certificate is required to be delivered pursuant to Section&nbsp;7(n) of this Agreement, as of each Applicable Time and as of each Settlement Date (as defined below), and agrees with
J.P. Morgan Securities, as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) <U>Compliance with Registration Requirements</U>. The Securities have been duly
registered under the Securities Act pursuant to the Registration Statement. The Registration Statement has become effective under the Securities Act, or, with respect to any registration statement to be filed to register the offer and sale of the
Securities pursuant to Rule 462(b) under the Securities Act (a &#147;<U>Rule 462(b) Registration Statement</U>&#148;), will be filed with the Commission and become effective under the Securities Act no later than 10:00 p.m. (New York City time), on
the date of determination of the public offering price for the Securities, and no stop order preventing or suspending the use of any base prospectus, the Prospectus Supplement, the Prospectus or any Permitted Free Writing Prospectus (as defined
below), or the effectiveness of the Registration Statement or any Rule 462(b) Registration Statement and no proceedings for such purpose have been instituted or are pending or, to the knowledge of the Company, are contemplated by the Commission, and
any request on the part of the Commission for additional information has been complied with. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">At the respective times each
of the Registration Statement, any Rule 462(b) Registration Statement and any post-effective amendments thereto became or becomes effective and as of the date hereof, the Registration Statement, any Rule 462(b) Registration Statement and any
amendments and supplements thereto complied and will comply in all material respects with the requirements of the Securities Act. The conditions for the use of Form <FONT STYLE="white-space:nowrap">S-3,</FONT> as set forth in the General
Instructions thereto, and the Registration Statement meets, and the offering and sale of the Securities as contemplated hereby complies with, the requirements of Rule 415 under the Securities Act (including, without limitation, Rule 415(a)(5)). The
Registration Statement, as of the date hereof and each effective date with respect thereto, did not and will not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the
statements therein not misleading. Neither the Prospectus nor any amendments or supplements thereto, as of their respective dates, and at each Applicable </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
Time and Settlement Date, as the case may be, included or will include an untrue statement of a material fact or omitted or will omit to state a material fact necessary in order to make the
statements therein, in the light of the circumstances under which they were made, not misleading. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">The representations and
warranties set forth in the immediately preceding paragraph shall not apply to statements in or omissions from the Registration Statement or the Prospectus, as amended or supplemented, made in reliance upon and in conformity with information
furnished to the Company in writing by J.P. Morgan Securities expressly for use therein. For purposes of this Agreement, the only information so furnished as of the date hereof shall be J.P. Morgan Securities&#146; name (the &#147;<U>Agent
Information</U>&#148;). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">The copies of the Registration Statement and any Rule 462(b) Registration Statement and any
amendments thereto, any other preliminary prospectus, each Issuer Free Writing Prospectus that is required to be filed with the Commission pursuant to Rule 433 and the Prospectus and any amendments or supplements thereto delivered and to be
delivered to J.P. Morgan Securities (electronically or otherwise) in connection with the offering of the Securities were and will be identical to the electronically transmitted copies thereof filed with the Commission pursuant to EDGAR, except to
the extent permitted by Regulation <FONT STYLE="white-space:nowrap">S-T.</FONT> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each Issuer Free Writing Prospectus
relating to the Securities, as of its issue date and as of each Applicable Time and Settlement Date, did not, does not and will not include any information that conflicted, conflicts or will conflict with the information contained in the
Registration Statement or the Prospectus, including any incorporated document deemed to be a part thereof that has not been superseded or modified, or included, includes or will include an untrue statement of a material fact or omitted, omits or
will omit to state a material fact necessary in order to make the statements therein, in light of the circumstances, prevailing at that subsequent time, not misleading. The foregoing sentence does not apply to statements in or omissions from any
Issuer Free Writing Prospectus based upon and in conformity with written information furnished to the Company by J.P. Morgan Securities specifically for use therein. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">At the time of the initial filing of the Registration Statement, at the time of the most recent amendment thereto for the
purposes of complying with Section&nbsp;10(a)(3) of the Securities Act (whether such amendment was by post-effective amendment, incorporated report filed pursuant to Section&nbsp;13 or 15(d) of the Exchange Act or form of prospectus), at the time
the Company or another offering participant made a bona fide offer (within the meaning, for this paragraph only, of Rule 164(h)(2) of the Securities Act), the Company was and is a &#147;well-known seasoned issuer&#148; as defined in Rule 405 of the
Securities Act, including not having been and not being an &#147;ineligible issuer,&#148; as defined in Rule 405 of the Securities Act; and, without limitation to the foregoing, the Company has at all relevant times met, meets and will at all
relevant times meet the requirements of Rule 164 for the use of a free writing prospectus (as defined in Rule 405) in connection with the offering contemplated hereby. The Company agrees to pay the fees required by the Commission relating to the
Securities within the time required by Rule 456(b)(1) without regard to the proviso therein and otherwise in accordance with Rules 456(b) and 457(r). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each document incorporated by reference in the Registration Statement or the
Prospectus heretofore filed, when it was filed (or, if any amendment with respect to any such document was filed, when such amendment was filed), conformed in all material respects with the requirements of the Exchange Act, and any further documents
so filed and incorporated after the date of this Agreement will, when they are filed, conform in all material respects with the requirements of the Exchange Act; no such document when it was filed (or, if an amendment with respect to any such
document was filed, when such amendment was filed), contained an untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make the statements therein not misleading; and no such
document, when it is filed, will contain an untrue statement of a material fact or will omit to state a material fact required to be stated therein or necessary in order to make the statements therein not misleading. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) <U>Prior Written Communications</U>. Any offer that is a written communication relating to the Securities made prior to the
initial filing of the Registration Statement by the Company or any person acting on its behalf (within the meaning, for this paragraph only, of Rule 163(c) of the Securities Act) has been filed with the Commission in accordance with the exemption
provided by Rule 163 of the Securities Act and otherwise complied with the requirements of Rule 163 of the Securities Act, including without limitation the legending requirement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) <U>Good Standing of Company</U>. The Company has been duly organized and is validly existing as a real estate investment
trust of unlimited duration with transferable shares of beneficial interest in good standing under the laws of the State of Maryland, with full power and authority to own, lease and operate its properties and to conduct its business as described in
the Registration Statement and the Prospectus and to enter into this Agreement and to consummate the transactions contemplated by the Registration Statement and the Prospectus. The Company is duly qualified to transact business and is in good
standing in each jurisdiction in which such qualification is required, whether by reason of the ownership or leasing of property or the conduct of business, except where the failure to so qualify or be in good standing would not result in a material
adverse change in the condition, financial or otherwise, or the results of operations, business, properties or prospects of the Company and its subsidiaries considered as one enterprise, whether or not arising in the ordinary course of business (a
&#147;<U>Material Adverse Effect</U>&#148;). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) <U>Subsidiaries</U>. Each &#147;significant subsidiary&#148; of the
Company (as such term is defined in Rule <FONT STYLE="white-space:nowrap">1-02</FONT> of Regulation <FONT STYLE="white-space:nowrap">S-X</FONT> promulgated under the Securities Act) (each, a &#147;Subsidiary&#148; and, collectively, the
&#147;Subsidiaries&#148;) (which term includes corporations, limited and general partnerships, limited liability companies, joint ventures and other entities, and includes direct and indirect subsidiaries), has been duly organized and is validly
existing as a corporation, limited liability company or partnership, as the case may be, in good standing under the laws of the jurisdiction of its incorporation or organization, has power and authority to own, lease and operate its properties and
to conduct its business as described in the Registration Statement and the Prospectus and is </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>


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duly qualified to transact business and is in good standing in each jurisdiction in which such qualification is required, whether by reason of the ownership or leasing of property or the conduct
of business, except where the failure to so qualify or be in good standing would not result in a Material Adverse Effect. Except as otherwise stated in the Registration Statement or the Prospectus, all of the issued and outstanding capital stock or
other ownership interests of each subsidiary have been duly authorized and validly issued, are fully paid and <FONT STYLE="white-space:nowrap">non-assessable</FONT> and are owned by the Company, directly or through subsidiaries, free and clear of
any security interest, mortgage, pledge, lien, encumbrance, claim or equity; and none of the outstanding shares of capital stock of any subsidiary was issued in violation of preemptive or other similar rights of any security holder of such
subsidiary. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(5) <U>Capitalization</U>. The Securities and all other outstanding Common Stock have been duly authorized;
the authorized equity capitalization of the Company is as set forth in the Prospectus; all outstanding Common Stock is, and, when the Securities have been delivered and paid for in accordance with this Agreement or any Alternative Equity
Distribution Agreement, such Securities will have been, validly issued, fully paid and nonassessable, will be consistent with the information in the Prospectus and will conform to the description thereof contained in the Prospectus; the shareholders
of the Company have no preemptive rights with respect to the Securities; and none of the outstanding Common Stock has been issued in violation of any preemptive or similar rights of any security holder. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(6) <U>Absence of Further Requirements</U>. No consent, approval, authorization, or order of, or filing or registration with,
any person (including any governmental agency or body or any court) is required for the consummation by the Company of the transactions contemplated by this Agreement in connection with the offering, issuance and sale of the Securities by the
Company, except such as have been obtained under the Securities Act, and such as may be required under state securities laws. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(7) <U>Title to Property</U>. The Company and its subsidiaries have good and marketable title to, or valid and enforceable
leasehold estates in, all items of real and personal property referred to in the Registration Statement and the Prospectus as owned or leased by them, in each case free and clear of all liens, encumbrances, claims, security interests and defects,
other than those disclosed in the Registration Statement or the Prospectus or that would not, individually or in the aggregate, have a Material Adverse Effect. The Company has no reasonable basis to believe that the lessee under any lease calling
for annual lease payments in excess of one percent of the Company&#146;s annual revenue for its last fiscal year is not financially capable of performing its obligations thereunder (excluding leases for which rent payments due for the remainder of
such lease are less than such amount). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(8) <U>Absence of Defaults and Conflicts Resulting from Transaction</U>. The
execution, delivery and performance of this Agreement, and the issuance and sale of the Securities and compliance with the terms and provisions thereof will not result in a breach or violation of any of the terms and provisions of, or constitute a
default or a Debt Repayment Triggering Event (as defined below) under, or result in the imposition of any </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
lien, charge or encumbrance upon any property or assets of the Company or any of its subsidiaries pursuant to, the declaration of trust, partnership agreement, charter or bylaws or other
organizational documents of the Company or any of its subsidiaries, any statute, rule, regulation or order of any governmental agency or body or any court, domestic or foreign, having jurisdiction over the Company or any of its subsidiaries or any
of their properties, or any agreement or instrument to which the Company or any of its subsidiaries is a party or by which the Company or any of its subsidiaries is bound or to which any of the properties of the Company or any of its subsidiaries is
subject; a &#147;Debt Repayment Triggering Event&#148; means any event or condition that gives, or with the giving of notice or lapse of time would give, the holder of any note, debenture, or other evidence of indebtedness (or any person acting on
such holder&#146;s behalf) the right to require the repurchase, redemption or repayment of all or a portion of such indebtedness by the Company or any of its subsidiaries. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(9) <U>Absence of Existing Defaults and Conflicts</U>. Neither the Company nor any of its subsidiaries is (i)&nbsp;in violation
of its respective declaration of trust, partnership agreement, charter or bylaws or other organizational document or (ii)&nbsp;in default (or with the giving of notice or lapse of time would be in default) under any existing obligation, agreement,
covenant or condition contained in any indenture, loan agreement, mortgage, lease or other agreement or instrument to which any of them is a party or by which any of them is bound or to which any of the properties of any of them is subject or
(iii)&nbsp;in violation of any law or statute or any judgment, order, rule or regulation of any court or arbitrator or governmental or regulatory authority, except, in the case of clauses (ii)&nbsp;and (iii) above, for any such default or violation
that would not, individually or in the aggregate, have a Material Adverse Effect or materially and adversely affect the ability of the Company to perform its obligations under this Agreement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(10) <U>Authorization of Agreement</U>. This Agreement has been duly authorized, executed and delivered by the Company. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(11) <U>Possession of Licenses and Permits</U>. The Company and its subsidiaries possess, and are in compliance with the terms
of, all certificates, authorizations, franchises, licenses and permits (&#147;<U>Licenses</U>&#148;) necessary or material to the conduct of the business now conducted or proposed in the Registration Statement and the Prospectus to be conducted by
them and have not received any notice of proceedings relating to the revocation or modification of any Licenses that, if determined adversely to the Company or any of its subsidiaries, would individually or in the aggregate have a Material Adverse
Effect. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(12) <U>Absence of Labor Dispute</U>. No labor dispute with the employees of the Company or any of its
subsidiaries exists or, to the knowledge of the Company, is imminent, and the Company is not aware of any existing or imminent labor disturbance by the employees of any of its or its subsidiaries&#146; principal suppliers, contractors or customers,
that, in any such case, would have a Material Adverse Effect. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">9 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(13) <U>Possession of Intellectual Property</U>. The Company and its subsidiaries
own, possess or can acquire on reasonable terms, adequate trademarks, trade names and other rights to inventions, <FONT STYLE="white-space:nowrap">know-how,</FONT> patents, copyrights, confidential information and other intellectual property
(collectively, &#147;intellectual property rights&#148;) necessary to conduct the business now operated by them, or presently employed by them, and have not received any notice of infringement of or conflict with asserted rights of others with
respect to any intellectual property rights that, if determined adversely to the Company or any of its subsidiaries, would individually or in the aggregate have a Material Adverse Effect. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(14) <U>Environmental Laws</U>. Except as disclosed in the Registration Statement and the Prospectus, neither the Company nor
any of its subsidiaries is in violation of any statute, any rule, regulation, decision or order of any governmental agency or body or any court, domestic or foreign, relating to the use, disposal or release of hazardous or toxic substances or
relating to the protection or restoration of the environment or human exposure to hazardous or toxic substances (collectively, &#147;environmental laws&#148;), owns or operates any real property contaminated with any substance that is subject to any
environmental laws, is liable for any <FONT STYLE="white-space:nowrap">off-site</FONT> disposal or contamination pursuant to any environmental laws, or is subject to any claim relating to any environmental laws, which violation, contamination,
liability or claim would individually or in the aggregate have a Material Adverse Effect; and the Company is not aware of any pending investigation which might lead to such a claim. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(15) <U>Accurate Disclosure</U>. The statements in, or incorporated by reference into, the Registration Statement and the
Prospectus under the headings &#147;Description of Shares,&#148; &#147;Description of Common Shares,&#148; &#147;Material U.S. Federal Income Tax Considerations&#148; and &#147;Risk Factors&#148; and the statements in the Registration Statement
under Item 15 insofar as such statements summarize legal matters, agreements, documents or proceedings discussed therein, are accurate and fair summaries of such legal matters, agreements, documents or proceedings and present the information
required to be shown in all material respects. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(16) <U>REIT Status</U>. With respect to all tax periods regarding which
the Internal Revenue Service is or will be entitled to assert any claim, the Company has met the requirements for qualification as a real estate investment trust (&#147;<U>REIT</U>&#148;) under Sections 856 through 860 of the Internal Revenue Code,
as amended (the &#147;<U>Code</U>&#148;), and the Company&#146;s current organization and present and contemplated operations, assets and income as described in the Registration Statement and the Prospectus will permit the Company to continue to
meet such requirements. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(17) <U>Insurance</U>. The Company and its subsidiaries are insured by insurers of recognized
financial responsibility against such losses and risks and in such amounts as are prudent and customary in the businesses in which they are engaged; the Company has no reason to believe that it or any of its subsidiaries will not be able to renew
its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business at a cost that would not have a Material Adverse Effect; and the Company and each of
its subsidiaries has obtained title insurance on all of the properties owned by each of them in an amount at least equal to the original purchase price to acquire land and improvements and such title insurance is in full force and effect. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">10 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(18) <U>Taxes</U>. The Company has filed all federal, state and foreign income
tax returns that have been required to be filed and has paid all taxes indicated by said returns and all assessments, fines and penalties received by it to the extent that such taxes, assessments, fines or penalties have become due. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(19) <U>Statistical and Market-Related Data</U>. Any third-party statistical and market-related data included or incorporated
by reference in the Registration Statement or the Prospectus are based on or derived from sources that the Company believes to be reliable and accurate. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(20) <U>Compliance with Sarbanes-Oxley Act</U>. Except as set forth in the Registration Statement and the Prospectus,
(i)&nbsp;the Company, its subsidiaries and the Company&#146;s Board of Trustees (the &#147;<U>Board</U>&#148;) are in compliance in all material respects with Sarbanes-Oxley (as defined below) and all applicable Exchange Rules (as defined below);
(ii)&nbsp;the Company has adopted and disclosed corporate governance guidelines; (iii)&nbsp;the Company maintains a system of internal controls, including, but not limited to, disclosure controls and procedures, internal control over financial
reporting, an internal audit function and legal and regulatory compliance controls (collectively, &#147;<U>Internal Controls</U>&#148;), which complies with the Securities Laws (as defined below) and is overseen by the Audit Committee (the
&#147;<U>Audit Committee</U>&#148;) of the Board in accordance with Exchange Rules; (iv)&nbsp;since December&nbsp;31, 2009, the Company has not publicly disclosed or reported to the Audit Committee or the Board, and within the next 90 days the
Company does not reasonably expect to publicly disclose or report to the Audit Committee or the Board, a significant deficiency, material weakness, change in Internal Controls or fraud involving management or other employees who have a significant
role in Internal Controls (each, an &#147;<U>Internal Control Event</U>&#148;), any violation of, or failure to comply with, the Securities Laws, or any matter which, if determined adversely, would have a Material Adverse Effect; and
(v)&nbsp;&#147;Securities Laws&#148; means, collectively, the Sarbanes-Oxley Act of 2002 (&#147;<U>Sarbanes-Oxley</U>&#148;), the Securities Act, the Exchange Act, the rules and regulations of the Commission, the auditing principles, rules,
standards and practices applicable to auditors of &#147;issuers&#148; (as defined in Sarbanes-Oxley) promulgated or approved by the Public Company Accounting Oversight Board (&#147;<U>PCAOB Rules</U>&#148; and &#147;<U>PCAOB</U>,&#148;
respectively), and, as applicable, the rules of the New York Stock Exchange (&#147;<U>Exchange Rules</U>&#148;). There is and has been no failure on the part of the Company and any of the Company&#146;s trustees or officers, in their capacities as
such, to comply with Sarbanes-Oxley Section&nbsp;402 relating to loans and there is and has been no material failure on the part of the Company and any of the Company&#146;s trustees or officers, in their capacities as such to comply with
Sarbanes-Oxley Sections 302 and 906 relating to certifications. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(21) <U>Litigation</U>. Except as disclosed in the
Registration Statement and the Prospectus, there are no pending actions, suits or proceedings (including any inquiries or investigations by any court or governmental agency or body, domestic or foreign) against or affecting the Company, any of its
subsidiaries or any of their respective properties that, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">11 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
if determined adversely to the Company or any of its subsidiaries, would individually or in the aggregate have a Material Adverse Effect, or would materially and adversely affect the ability of
the Company to perform its obligations under this Agreement, or which are otherwise material in the context of the sale of the Securities; and no such actions, suits or proceedings (including any inquiries or investigations by any court or
governmental agency or body, domestic or foreign) are threatened or, to the Company&#146;s knowledge, contemplated. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(22)
<U>No Registration Rights</U>. No holders of securities of the Company have rights to the registration of such securities under the Registration Statement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(23) <U>Financial Statements</U>. The consolidated historical financial statements and schedules of the Company and its
consolidated subsidiaries included in the Registration Statement and the Prospectus present fairly the financial condition, results of operations, shareholders&#146; equity and cash flows of the Company as of the dates and for the periods indicated,
comply as to form with the applicable accounting requirements of the Securities Act and have been prepared in conformity with generally accepted accounting principles applied on a consistent basis throughout the periods involved (except as otherwise
noted therein). The selected financial data set forth under the caption &#147;Selected Financial Information&#148; in the Registration Statement and the Prospectus fairly present, on the basis stated in the Registration Statement and the Prospectus,
the information included therein. The pro forma financial statements included in Registration Statement and the Prospectus include assumptions that provide a reasonable basis for presenting the significant effects directly attributable to the
transactions and events described therein, the related pro forma adjustments give appropriate effect to those assumptions, and the pro forma adjustments reflect the proper application of those adjustments to the historical financial statement
amounts in the pro forma financial statements included in the Registration Statement and the Prospectus. The pro forma financial statements included in the Registration Statement and the Prospectus comply as to form in all material respects with the
applicable accounting requirements of Regulation <FONT STYLE="white-space:nowrap">S-X</FONT> under the Securities Act and the pro forma adjustments have been properly applied to the historical amounts in the compilation of those statements. The
historical summaries of revenue and certain operating expenses included in the Registration Statement and the Prospectus present fairly the revenue and those operating expenses included in such summaries of the properties related thereto for the
periods specified in conformity with GAAP. Any information contained in the Registration Statement or the Prospectus regarding <FONT STYLE="white-space:nowrap">&#147;non-GAAP</FONT> financial measures&#148; (as defined in Regulation G of the
Commission) complies with Regulation G and Item 10 of Regulation <FONT STYLE="white-space:nowrap">S-K</FONT> of the Commission, to the extent applicable. The interactive data in eXtensible Business Reporting Language included or incorporated by
reference in the Registration Statement and the Prospectus fairly presents the information called for in all material respects and is prepared in accordance with the Commission&#146;s rules and guidelines applicable thereto. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(24) <U>Independent Accountants</U>. The accountants, who certified the financial statements and delivered their reports with
respect to the audited consolidated financial statements and supporting schedules included in the Registration Statement and the Prospectus, are independent registered public accountants with respect to the Company within the meaning of the
Securities Act and the applicable published rules and regulations thereunder. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">12 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(25) <U>No Prohibition on Dividends by Subsidiaries</U>. Except as otherwise
provided in a secured loan document relating to a property owned by a subsidiary, no Subsidiary of the Company is currently prohibited, directly or indirectly, from paying any dividends to the Company, from making any other distribution on such
Subsidiary&#146;s capital stock, from repaying to the Company any loans or advances to such subsidiary from the Company or from transferring any of such Subsidiary&#146;s property or assets to the Company or any other subsidiary of the Company,
except as described in or contemplated by the Registration Statement and the Prospectus (exclusive of any supplement thereto). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(26) <U>Absence of Manipulation</U>. The Company has not taken, directly or indirectly, any action designed to or that would
constitute or that might reasonably be expected to cause or result in stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Securities. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(27) <U>ERISA</U>. None of the following events has occurred or exists that would have a Material Adverse Effect: (i)&nbsp;a
failure to fulfill the obligations, if any, under the minimum funding standards of Section&nbsp;302 of the United States Employee Retirement Income Security Act of 1974, as amended (&#147;<U>ERISA</U>&#148;), and the regulations and published
interpretations thereunder with respect to a Plan, determined without regard to any waiver of such obligations or extension of any amortization period; (ii)&nbsp;an audit or investigation by the Internal Revenue Service, the U.S. Department of
Labor, the Pension Benefit Guaranty Corporation or any other federal or state governmental agency or any foreign regulatory agency with respect to the employment or compensation of employees by any of the Company or any of its subsidiaries;
(iii)&nbsp;any breach of any contractual obligation, or any violation of law or applicable qualification standards, with respect to the employment or compensation of employees by the Company or any of its subsidiaries. None of the following events
has occurred or is reasonably likely to occur: (i)&nbsp;a material increase in the aggregate amount of contributions required to be made to all Plans in the current fiscal year of the Company and its subsidiaries compared to the amount of such
contributions made in the most recently completed fiscal year of the Company and its subsidiaries; (ii)&nbsp;a material increase in the &#147;accumulated post-retirement benefit obligations&#148; (within the meaning of Statement of Financial
Accounting Standards 106) of the Company and its subsidiaries compared to the amount of such obligations in the most recently completed fiscal year of the Company and its subsidiaries; (iii)&nbsp;any event or condition giving rise to a liability
under Title IV of ERISA that would have a Material Adverse Effect; or (iv)&nbsp;the filing of a claim by one or more employees or former employees of the Company or any of its subsidiaries related to their employment that would have a Material
Adverse Effect. For purposes of this paragraph, the term &#147;Plan&#148; means a plan (within the meaning of Section&nbsp;3(3) of ERISA) subject to Title IV of ERISA with respect to which the Company or any of its subsidiaries may have any
liability. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">13 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(28) <U>Foreign Corrupt Practices Act</U>. Neither the Company nor any of its
subsidiaries nor, to the knowledge of the Company, any trustee, officer, agent, employee or affiliate of the Company or any of its subsidiaries is aware of or has taken any action, directly or indirectly, that would result in a violation by such
persons of the Foreign Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder (the &#147;<U>FCPA</U>&#148;), including, without limitation, making use of the mails or any means or instrumentality of interstate commerce
corruptly in furtherance of an offer, payment, promise to pay or authorization of the payment of any money, or other property, gift, promise to give, or authorization of the giving of anything of value to any &#147;foreign official&#148; (as such
term is defined in the FCPA) or any foreign political party or official thereof or any candidate for foreign political office, in contravention of the FCPA; and the Company, its subsidiaries and, to the knowledge of the Company, its other affiliates
have conducted their businesses in compliance with the FCPA. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(29) <U>Money Laundering Laws</U>. The operations of the
Company and its subsidiaries are and have been conducted at all times in compliance with applicable financial recordkeeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended, the money laundering
statutes of all applicable jurisdictions, the rules and regulations thereunder and any related or similar applicable rules, regulations or guidelines, issued, administered or enforced by any governmental agency (collectively, &#147;<U>Money
Laundering Laws</U>&#148;) and no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the Company or any of its subsidiaries with respect to the Money Laundering Laws is pending or,
to the knowledge of the Company, threatened. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(30) <U>OFAC</U>. Neither the Company nor any of its subsidiaries nor, to the
knowledge of the Company, any trustee, officer, agent, employee, affiliate or person acting on behalf of the Company or any of its subsidiaries is currently subject to any U.S. sanctions administered by the Office of Foreign Assets Control of the
U.S. Treasury Department (&#147;<U>OFAC</U>&#148;); and the Company will not directly or indirectly use any of the proceeds received by the Company from the sale of Securities contemplated by this Agreement, or lend, contribute or otherwise make
available any such proceeds to any subsidiary, joint venture partner or other person or entity, for the purpose of financing the activities of any person currently subject to any U.S. sanctions administered by OFAC. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(31) <U>Significant Subsidiaries</U>. The subsidiaries listed on <U>Exhibit D</U> attached hereto are the only significant
subsidiaries of the Company as defined by <FONT STYLE="white-space:nowrap">Rule&nbsp;1-02</FONT> of Regulation <FONT STYLE="white-space:nowrap">S-X.</FONT> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(32) <U>Lending Relationship</U>. Except as disclosed in the Registration Statement and the Prospectus, neither the Company nor
any of its subsidiaries has any outstanding borrowings from, or is a party to any line of credit, credit agreement or other credit facility or otherwise has a borrowing relationship with, any bank or other lending institution affiliated with J.P.
Morgan Securities, and, except as disclosed in the Registration Statement and the Prospectus, the Company does not intend to use any of the proceeds from the sale of the Securities to repay any debt owed to J.P. Morgan Securities or any affiliate
thereof. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">14 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(33) <U>No Other Contracts</U>. There are no contracts or documents that are
required to be described in the Registration Statement or the Prospectus or the documents incorporated by reference therein or to be filed as exhibits thereto that have not been so described and filed as required. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(34) <U>Investment Company Act</U>. The Company is not and, after giving effect to the offering and sale of the Securities and
the application of the proceeds thereof as described in the Registration Statement and the Prospectus, will not be an &#147;investment company&#148; as defined in the Investment Company Act of 1940 (the &#147;<U>Investment Company Act</U>&#148;).
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(35) <U>Finder&#146;s Fee</U>. Other than this Agreement, there are no contracts, agreements or understandings between the
Company and any person that would give rise to a valid claim against the Company or J.P. Morgan Securities for a brokerage commission, finder&#146;s fee or other like payment as a result of any transactions contemplated by this Agreement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(36) <U>Proprietary Trading by J.P. Morgan Securities</U>. The Company acknowledges and agrees that J.P. Morgan Securities has
informed the Company that J.P. Morgan Securities may, to the extent permitted under the Securities Act and the Exchange Act, purchase and sell shares of Common Stock for its own account and for the account of its clients while this Agreement is in
effect, and shall be under no obligation to purchase Securities on a principal basis pursuant to this Agreement, except as otherwise agreed by J.P. Morgan Securities in the Placement Notice (as amended by the corresponding Acceptance, if
applicable); provided, that no such purchase or sales for J.P. Morgan Securities&#146; own account shall take place while a Placement Notice is in effect (except (i)&nbsp;as agreed by J.P. Morgan Securities in the Placement Notice (as amended by the
corresponding Acceptance, if applicable) or (ii)&nbsp;to the extent J.P. Morgan Securities may engage in sales of Placement Securities purchased or deemed purchased from the Company as a &#147;riskless principal&#148; or in a similar capacity). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(37) <U>No Material Adverse Change in Business</U>. Except as disclosed in the Prospectus, since the end of the period covered
by the latest audited financial statements included in the Prospectus (i)&nbsp;there has been no change, nor any development or event involving a prospective change, in the condition (financial or otherwise), results of operations, business,
properties or prospects of the Company and its subsidiaries, taken as a whole that is material and adverse, (ii)&nbsp;except for ordinary quarterly dividends, there has been no dividend or distribution of any kind declared, paid or made by the
Company on any class of its capital stock and (iii)&nbsp;there has been no material adverse change in the capital stock, short-term indebtedness, long-term indebtedness, net current assets or net assets of the Company and its subsidiaries. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(38) <U>Actively Traded Security</U>. Except under circumstances where the Company has provided J.P. Morgan Securities with the
notice required pursuant to Section&nbsp;7(x) of this Agreement, the Common Stock is an &#147;actively traded security&#148; excepted from the requirements of Rule 101 of Regulation M under the Exchange Act by subsection&nbsp;(c)(1) of such rule.
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">15 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(39) <U>NYSE</U>. The outstanding shares of Common Stock have been and the
Securities to be sold by the Company hereunder will have been approved for listing, subject only to official notice of issuance, on the NYSE, and are registered pursuant to Section&nbsp;12(b) of the Exchange Act, and the Company has taken no action
designed to, or likely to have the effect of, terminating the registration of the Securities under the Exchange Act or delisting any such securities from the NYSE, nor has the Company received any notification that the Commission or the NYSE is
contemplating terminating such registration or listing. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <I>Certificates</I>. Any certificate signed by any officer of the Company or
any of its subsidiaries and delivered to J.P. Morgan Securities or to counsel for J.P. Morgan Securities shall be deemed a representation and warranty by the Company to J.P. Morgan Securities as to the matters covered thereby. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 6. <U>Sale and Delivery to J.P. Morgan Securities; Settlement</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Sale of Placement Securities</I>. On the basis of the representations and warranties herein contained and subject to the terms and
conditions herein set forth, upon J.P. Morgan Securities&#146; acceptance of the terms of a Placement Notice or upon receipt by J.P. Morgan Securities of an Acceptance, as the case may be, and unless the sale of the Placement Securities described
therein has been declined, suspended, or otherwise terminated in accordance with the terms of this Agreement, J.P. Morgan Securities, for the period specified in the Placement Notice (as amended by the corresponding Acceptance, if applicable), will
use its commercially reasonable efforts consistent with its normal trading and sales practices to sell such Placement Securities up to the amount specified, and otherwise in accordance with the terms of such Placement Notice (as amended by the
corresponding Acceptance, if applicable). The Company acknowledges and agrees that (i)&nbsp;there can be no assurance that J.P. Morgan Securities will be successful in selling Placement Securities, (ii)&nbsp;J.P. Morgan Securities will incur no
liability or obligation to the Company or any other person or entity if it does not sell Placement Securities for any reason other than a failure by J.P. Morgan Securities to use its commercially reasonable efforts consistent with its normal trading
and sales practices to sell such Placement Securities as required under this Section&nbsp;6 and (iii)&nbsp;J.P. Morgan Securities shall be under no obligation to purchase Securities on a principal basis pursuant to this Agreement, except as
otherwise agreed by J.P. Morgan Securities in the Placement Notice (as amended by the corresponding Acceptance, if applicable). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b)
<I>Settlement of Placement Securities</I>. Unless otherwise specified in the applicable Placement Notice (as amended by the corresponding Acceptance, if applicable), settlement for sales of Placement Securities will occur on the second (2<SUP
STYLE="font-size:85%; vertical-align:top">nd</SUP>) Trading Day (or such earlier day as is industry practice for <FONT STYLE="white-space:nowrap">regular-way</FONT> trading) following the date on which such sales are made (each, a
&#147;<U>Settlement Date</U>&#148;). The amount of proceeds to be delivered to the Company on a Settlement Date against receipt of the Placement Securities sold (the &#147;<U>Net Proceeds</U>&#148;) will be equal to the aggregate sales price
received by J.P. Morgan Securities at which such Placement Securities were sold, after deduction for (i)&nbsp;J.P. Morgan Securities&#146; commission, discount or other compensation for such sales payable by the Company pursuant to Section&nbsp;2
hereof, (ii)&nbsp;any other amounts due and payable by the Company to J.P. Morgan Securities hereunder pursuant to Section&nbsp;8(a) hereof, and (iii)&nbsp;any transaction fees imposed by any governmental or self-regulatory organization in respect
of such sales. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">16 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <I>Delivery of Placement Securities</I>. On or before each Settlement Date, the Company will,
or will cause its transfer agent to, electronically transfer the Placement Securities being sold by crediting J.P. Morgan Securities&#146; or its designee&#146;s account (provided J.P. Morgan Securities shall have given the Company written notice of
such designee prior to the Settlement Date) at The Depository Trust Company through its Deposit and Withdrawal at Custodian System or by such other means of delivery as may be mutually agreed upon by the parties hereto which in all cases shall be
freely tradable, transferable, registered shares in good deliverable form. On each Settlement Date, J.P. Morgan Securities will deliver the related Net Proceeds in same day funds to an account designated by the Company on, or prior to, the
Settlement Date. The Company agrees that if the Company, or its transfer agent (if applicable), defaults in its obligation to deliver Placement Securities on a Settlement Date, the Company agrees that in addition to and in no way limiting the rights
and obligations set forth in Section&nbsp;10(a) hereto, it will (i)&nbsp;hold J.P. Morgan Securities harmless against any loss, liability, claim, damage, or expense whatsoever (including reasonable legal fees and expenses), as incurred, arising out
of or in connection with such default by the Company or its transfer agent and (ii)&nbsp;pay to J.P. Morgan Securities any commission, discount, or other compensation to which it would otherwise have been entitled absent such default. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <I>Denominations; Registration</I>. Certificates for the Securities shall be in such denominations and registered in such names as J.P.
Morgan Securities may request in writing at least one full business day before the Settlement Date. The Company shall deliver the Securities, if any, through the facilities of The Depository Trust Company unless J.P. Morgan Securities shall
otherwise instruct. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) <I>Limitations on Offering Size</I>. Under no circumstances shall the Company cause or request the offer or sale
of any Securities, if after giving effect to the sale of such Securities, the aggregate offering price of the Securities sold pursuant to this Agreement would exceed the lesser of (A)&nbsp;together with all sales of Securities under the Alternative
Equity Distribution Agreements, the Maximum Amount, (B)&nbsp;the amount available for offer and sale under the currently effective Registration Statement and (C)&nbsp;the amount authorized from time to time to be issued and sold under this Agreement
and the Alternative Equity Distribution Agreements by the Company (which authorized amount shall be notified to J.P. Morgan Securities in writing at any time upon J.P. Morgan Securities&#146; written request during the pendency of an active
Placement Notice). Under no circumstances shall the Company cause or request the offer or sale of any Securities pursuant to this Agreement and the Alternative Equity Distribution Agreements at a price lower than the minimum price authorized from
time to time by the Company (which minimum price shall be notified to J.P. Morgan Securities in writing at any time upon J.P. Morgan Securities&#146; written request during the pendency of an active Placement Notice). Further, under no circumstances
shall the aggregate offering price of Securities sold pursuant to this Agreement and the Alternative Equity Distribution Agreements, including any separate underwriting or similar agreement covering principal transactions described in Section&nbsp;1
of this Agreement, exceed the Maximum Amount. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">17 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) <I><FONT STYLE="white-space:nowrap">Black-out</FONT> Limitations</I>. Notwithstanding any
other provision of this Agreement, the Company shall not offer or sell, or instruct J.P. Morgan Securities to offer or sell, any Securities through J.P. Morgan Securities as agent (and, by notice to J.P. Morgan Securities given by telephone
(confirmed promptly by telecopy or email), shall cancel any instructions for any such offer or sale of any Securities prior to the commencement of the periods referenced below), and J.P. Morgan Securities shall not be obligated to make any such
offer or sale of Securities, (i)&nbsp;during any period in which the Company is, or could be deemed to be, in possession of material <FONT STYLE="white-space:nowrap">non-public</FONT> information or (ii)&nbsp;except as provided in
Section&nbsp;6(f)(1) hereof, at any time from and including the date on which the Company issues a press release containing, or shall otherwise publicly announce, its earnings, revenues or other operating results for a fiscal period or periods
(each, an &#147;<U>Earnings Announcement</U>&#148;) through and including the time that is 24 hours after the time that the Company files a Quarterly Report on Form <FONT STYLE="white-space:nowrap">10-Q</FONT> or an Annual Report on Form <FONT
STYLE="white-space:nowrap">10-K</FONT> (a &#147;<U>Filing Time</U>&#148;) that includes consolidated financial statements as of and for the same fiscal period or periods, as the case may be, covered by such Earnings Announcement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) If the Company wishes to offer or sell Securities to J.P. Morgan Securities as agent at any time during the period from and
including an Earnings Announcement through and including the time that is 24 hours after the corresponding Filing Time, the Company shall first (i)&nbsp;prepare and deliver to J.P. Morgan Securities (with a copy to counsel to J.P. Morgan Securities)
a Current Report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> that includes substantially the same financial and related information (together with management&#146;s discussion and analysis thereof) that was included in such Earnings
Announcement (other than any earnings projections and similar forward-looking data and officers&#146; quotations) (each, an &#147;<U>Earnings <FONT STYLE="white-space:nowrap">8-K</FONT></U>&#148;), in form and substance reasonably satisfactory to
J.P. Morgan Securities, and, prior to its filing, obtain the written consent of J.P. Morgan Securities to such filing (which consent shall not be unreasonably withheld or delayed), (ii) provide J.P. Morgan Securities with the officers&#146;
certificate, opinions and letters of counsel and accountants&#146; letter specified in Section&nbsp;7(o), (p) and (q), respectively, hereof, (iii)&nbsp;afford J.P. Morgan Securities the opportunity to conduct a due diligence review in accordance
with Section&nbsp;7(m) hereof prior to filing such Earnings <FONT STYLE="white-space:nowrap">8-K</FONT> and (iv)&nbsp;file such Earnings <FONT STYLE="white-space:nowrap">8-K</FONT> with the Commission, then the provision of clause (ii)&nbsp;of
Section&nbsp;6(f) shall not be applicable for the period from and after the time at which the foregoing conditions shall have been satisfied (or, if later, the time that is 24 hours after the time that the relevant Earnings Announcement was first
publicly released) through and including the time that is 24 hours after the Filing Time of the relevant Quarterly Report on Form <FONT STYLE="white-space:nowrap">10-Q</FONT> or Annual Report on Form <FONT STYLE="white-space:nowrap">10-K,</FONT> as
the case may be. For purposes of clarity, the parties hereto agree that (A)&nbsp;the delivery of any officers&#146; certificate, opinion or letter of counsel or accountants&#146; letter pursuant to this Section&nbsp;6(f) shall not relieve the
Company from any of its obligations under this Agreement with respect to any Quarterly Report on Form <FONT STYLE="white-space:nowrap">10-Q</FONT> or Annual Report on Form <FONT STYLE="white-space:nowrap">10-K,</FONT> as the case may be, including,
without limitation, the obligation to deliver officers&#146; certificates, opinions and letters of counsel and accountants&#146; letters as provided in Section&nbsp;7(o), (p) and (q), respectively, hereof, and (B)&nbsp;this Section&nbsp;6(f) shall
in no way affect or limit the operation of clause (i)&nbsp;of Section&nbsp;6(f) hereof, which shall have independent application. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">18 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 7. <U>Covenants of the Company</U>. The Company covenants with J.P. Morgan Securities as
follows: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Registration Statement Amendments; Payment of Fees</I>. After the date of this Agreement and during any period in which a
Prospectus relating to any Placement Securities is required to be delivered by J.P. Morgan Securities under the Securities Act (including in circumstances where such requirement may be satisfied pursuant to Rule 172 under the Securities Act), (i)
the Company will notify J.P. Morgan Securities promptly of the time when any subsequent amendment to the Registration Statement, other than documents incorporated by reference, has been filed with the Commission and/or has become effective or any
subsequent supplement to the Prospectus has been filed and of any comment letter from the Commission or any request by the Commission for any amendment or supplement to the Registration Statement or Prospectus or for additional information;
(ii)&nbsp;the Company will prepare and file with the Commission, promptly upon J.P. Morgan Securities&#146; request, any amendments or supplements to the Registration Statement or Prospectus that, in J.P. Morgan Securities&#146; reasonable opinion,
may be necessary or advisable in connection with the distribution of the Placement Securities by J.P. Morgan Securities (<I>provided</I>, <I>however</I>, that the failure of J.P. Morgan Securities to make such request shall not relieve the Company
of any obligation or liability hereunder, or affect J.P. Morgan Securities&#146; right to rely on the representations and warranties made by the Company in this Agreement); (iii) the Company will not file any amendment or supplement to the
Registration Statement or Prospectus, other than documents incorporated by reference, relating to the Placement Securities or a security convertible into the Placement Securities unless a copy thereof has been submitted to J.P. Morgan Securities
within a reasonable period of time before the filing and J.P. Morgan Securities has not reasonably objected thereto (<I>provided</I>, <I>however</I>, that the failure of J.P. Morgan Securities to make such objection shall not relieve the Company of
any obligation or liability hereunder, or affect J.P. Morgan Securities&#146; right to rely on the representations and warranties made by the Company in this Agreement) and the Company will furnish to J.P. Morgan Securities at the time of filing
thereof a copy of any document that upon filing is deemed to be incorporated by reference into the Registration Statement or Prospectus, except for those documents available via EDGAR; and (iv)&nbsp;the Company will cause each amendment or
supplement to the Prospectus, other than documents incorporated by reference, to be filed with the Commission as required pursuant to the applicable paragraph of Rule 424(b) of the Securities Act (without reliance on Rule 424(b)(8) of the Securities
Act). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <I>Notice of Commission Stop Orders</I>. The Company will advise J.P. Morgan Securities, promptly after it receives notice or
obtains knowledge thereof, of the issuance or threatened issuance by the Commission of any stop order suspending the effectiveness of the Registration Statement or of any other order preventing or suspending the use of the Prospectus or any Issuer
Free Writing Prospectus, or of the suspension of the qualification of the Placement Securities for offering or sale in any jurisdiction or of the loss or suspension of any exemption from any such qualification, or of the initiation or threatening of
any proceedings for any of such purposes, or of any examination pursuant to Section&nbsp;8(e) of the Securities Act concerning the Registration Statement or if the Company becomes the subject of a proceeding under Section&nbsp;8A of the Securities
Act in connection with the offering of the Securities. The Company will make every reasonable effort to prevent the issuance of any stop order, the suspension of any qualification of the Securities for offering or sale and any loss or suspension of
any exemption from any such qualification, and if any such stop order is issued or any such suspension or loss occurs, to obtain the lifting thereof at the earliest possible moment. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">19 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <I>Delivery of Registration Statement and Prospectus</I>. The Company will furnish to J.P.
Morgan Securities and its counsel (at the expense of the Company) copies of the Registration Statement, the Prospectus (including all documents incorporated by reference therein) and all amendments and supplements to the Registration Statement or
Prospectus, and any Issuer Free Writing Prospectuses, that are filed with the Commission during any period in which a Prospectus relating to the Placement Securities is required to be delivered under the Securities Act (including all documents filed
with the Commission during such period that are deemed to be incorporated by reference therein), in each case as soon as reasonably practicable and in such quantities and at such locations as J.P. Morgan Securities may from time to time reasonably
request. The copies of the Registration Statement and the Prospectus and any supplements or amendments thereto furnished to J.P. Morgan Securities will be identical to the electronically transmitted copies thereof filed with the Commission pursuant
to EDGAR, except to the extent permitted by Regulation <FONT STYLE="white-space:nowrap">S-T.</FONT> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <I>Continued Compliance with
Securities Laws</I>. If at any time when a Prospectus is required by the Securities Act or the Exchange Act to be delivered in connection with a pending sale of the Placement Securities (including, without limitation, pursuant to Rule 172), any
event shall occur or condition shall exist as a result of which it is necessary, in the opinion of counsel for J.P. Morgan Securities or for the Company, to amend the Registration Statement or amend or supplement the Prospectus in order that the
Prospectus will not include any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein not misleading in the light of the circumstances existing at the time it is delivered to a
purchaser, or if it shall be necessary, in the opinion of such counsel, at any such time to amend the Registration Statement or amend or supplement the Prospectus in order to comply with the requirements of the Securities Act, the Company will
promptly notify J.P. Morgan Securities to suspend the offering of Placement Securities during such period and the Company will promptly prepare and file with the Commission such amendment or supplement as may be necessary to correct such statement
or omission or to make the Registration Statement or the Prospectus comply with such requirements, and the Company will furnish to J.P. Morgan Securities such number of copies of such amendment or supplement as J.P. Morgan Securities may reasonably
request. If at any time following issuance of an Issuer Free Writing Prospectus there occurred or occurs an event or development as a result of which such Issuer Free Writing Prospectus conflicted, conflicts or would conflict with the information
contained in the Registration Statement or the Prospectus or included, includes or would include an untrue statement of a material fact or omitted, omits or would omit to state a material fact necessary in order to make the statements therein, in
the light of the circumstances, prevailing at that subsequent time, not misleading, the Company will promptly notify J.P. Morgan Securities to suspend the offering of Placement Securities during such period and the Company will, subject to
Section&nbsp;7(a) hereof, promptly amend or supplement such Issuer Free Writing Prospectus to eliminate or correct such conflict, untrue statement or omission. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">20 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) <I>Blue Sky and Other Qualifications</I>. The Company will use its best efforts, in
cooperation with J.P. Morgan Securities, to qualify the Placement Securities for offering and sale, or to obtain an exemption for the Securities to be offered and sold, under the applicable securities laws of such states and other jurisdictions
(domestic or foreign) as J.P. Morgan Securities may designate and to maintain such qualifications and exemptions in effect for so long as required for the distribution of the Securities (but in no event for less than one year from the date of this
Agreement); <I>provided</I>, <I>however</I>, that the Company shall not be obligated to file any general consent to service of process or to qualify as a foreign corporation or as a dealer in securities in any jurisdiction in which it is not so
qualified or to subject itself to taxation in respect of doing business in any jurisdiction in which it is not otherwise so subject. In each jurisdiction in which the Placement Securities have been so qualified or exempt, the Company will file such
statements and reports as may be required by the laws of such jurisdiction to continue such qualification or exemption, as the case may be, in effect for so long as required for the distribution of the Placement Securities (but in no event for less
than one year from the date of this Agreement). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) <I>Rule 158</I>. The Company will timely file such reports pursuant to the Exchange
Act as are necessary in order to make generally available to its securityholders as soon as reasonably practicable an earnings statement for the purposes of, and to provide to J.P. Morgan Securities the benefits contemplated by, the last paragraph
of Section&nbsp;11(a) of the Securities Act. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) <I>Use of Proceeds</I>. The Company will use the net proceeds received by it from the
sale of the Securities in the manner specified in the Prospectus under &#147;Use of Proceeds.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) <I>Listing</I>. During any period
in which the Prospectus relating to the Placement Securities is required to be delivered by J.P. Morgan Securities under the Securities Act with respect to a pending sale of the Placement Securities (including in circumstances where such requirement
may be satisfied pursuant to Rule 172 under the Securities Act), the Company will use its commercially reasonable efforts to cause the Placement Securities to be listed on the NYSE. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) <I>Filings with the NYSE</I>. The Company will timely file with the NYSE all material documents and notices required by the NYSE of
companies that have or will issue securities that are traded on the NYSE. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) <I>Reporting Requirements</I>. The Company, during any
period when the Prospectus is required to be delivered under the Securities Act and the Exchange Act (including in circumstances where such requirement may be satisfied pursuant to Rule 172 under the Securities Act), will file all documents required
to be filed with the Commission pursuant to the Exchange Act within the time periods required by the Exchange Act. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k) <I>Notice of Other
Sales</I>. During the pendency of any Placement Notice delivered hereunder (as amended by the corresponding Acceptance, if applicable), the Company will not, without giving J.P. Morgan Securities at least one (1)&nbsp;business day prior written
notice specifying the nature of the proposed sale and the date of such proposed sale , (A) offer, pledge, announce the intention to sell, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant
any option, right or warrant for the sale of, lend or otherwise transfer or dispose of, directly or indirectly, any Common Stock or securities convertible into or exchangeable or exercisable for or repayable with Common Stock, or file any
registration statement under the 1933 Act with respect to any of the foregoing (other than a shelf </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">21 </P>


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registration statement under Rule 415 under the 1933 Act, a registration statement on Form <FONT STYLE="white-space:nowrap">S-8</FONT> or post-effective amendment to the Registration Statement)
or (B)&nbsp;enter into any swap or other agreement or any transaction that transfers in whole or in part, directly or indirectly, any of the economic consequence of ownership of the Common Stock, or any securities convertible into or exchangeable or
exercisable for or repayable with Common Stock, whether any such swap or transaction described in clause (A)&nbsp;or (B) above is to be settled by delivery of Common Stock or such other securities, in cash or otherwise. The foregoing sentence shall
not apply to (i)&nbsp;the Common Stock to be offered and sold through J.P. Morgan Securities and the Alternative Placement Agents pursuant to this Agreement and the Alternative Equity Distribution Agreements, (ii)&nbsp;any shares of Common Stock
issued by the Company upon the exercise of an option or warrant or the conversion, redemption or exchange of a security outstanding at the time such Placement Notice is delivered, including Common Stock issuable upon exchange of operating
partnership units of any operating partnership subsidiary of the Company (&#147;OP Units&#148;), (iii) any issuances of OP Units, (iv)&nbsp;Common Stock issuable pursuant to the Company&#146;s direct dividend reinvestment plan as it may be amended
or replaced from time to time, and (v)&nbsp;equity incentive awards approved by the Board or the compensation committee thereof or the issuance of Common Stock upon exercise thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(l) <I>Change of Circumstances</I>. The Company will, at any time during a fiscal quarter in which the Company intends to tender a Placement
Notice or sell Placement Securities, advise J.P. Morgan Securities promptly after it shall have received notice or obtained knowledge thereof, of any information or fact that would alter or affect in any material respect any opinion, certificate,
letter or other document provided to J.P. Morgan Securities pursuant to this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(m) <I>Due Diligence Cooperation</I>. The Company
will cooperate with any reasonable due diligence review conducted by J.P. Morgan Securities or its agents in connection with the transactions contemplated hereby, including, without limitation, providing information and making available documents
and senior officers, during regular business hours and at the Company&#146;s principal offices, as J.P. Morgan Securities may reasonably request. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(n) <I>Representation Dates; Certificate</I>. On or prior to the date that the first Securities are sold pursuant to the terms of this
Agreement and: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) each time the Company: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) files the Prospectus relating to the Placement Securities or amends or supplements the Registration Statement or the
Prospectus relating to the Placement Securities by means of a post-effective amendment, sticker, or supplement but not by means of incorporation of documents by reference into the Registration Statement or the Prospectus relating to the Placement
Securities; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) files an annual report on Form <FONT STYLE="white-space:nowrap">10-K</FONT> under the Exchange Act; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) files a quarterly report on Form <FONT STYLE="white-space:nowrap">10-Q</FONT> under the Exchange Act; or </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">22 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) files a report on Form <FONT STYLE="white-space:nowrap">8-K</FONT>
containing amended financial information (other than an earnings release, to &#147;furnish&#148; information pursuant to Items 2.02 or 7.01 of Form <FONT STYLE="white-space:nowrap">8-K)</FONT> under the Exchange Act; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) at any other time reasonably requested by J.P. Morgan Securities (each such date of filing of one or more of the documents
referred to in clauses (1)(i) through (iv)&nbsp;and any time of request pursuant to this Section&nbsp;7(n) shall be a &#147;<U>Representation Date</U>&#148;), </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">the Company shall furnish J.P. Morgan Securities with a certificate, in the form attached hereto as <U>Exhibit F</U> within two
(2)&nbsp;Trading Days of any Representation Date. Except as otherwise notified by J.P. Morgan Securities with respect to a Representation Date on which the Company files its Form <FONT STYLE="white-space:nowrap">10-K,</FONT> the requirement to
provide a certificate under this Section&nbsp;7(n) shall be waived for any Representation Date occurring at a time at which no Placement Notice (as amended by the corresponding Acceptance, if applicable) is pending, which waiver shall continue until
the earlier to occur of the date the Company delivers a Placement Notice hereunder (which for such calendar quarter shall be considered a Representation Date) and the next occurring Representation Date. Notwithstanding the foregoing, if the Company
subsequently decides to sell Placement Securities following a Representation Date when the Company relied on such waiver and did not provide J.P. Morgan Securities with a certificate under this Section&nbsp;7(n), then before the Company delivers the
Placement Notice or J.P. Morgan Securities sells any Placement Securities, the Company shall provide J.P. Morgan Securities with a certificate, in the form attached hereto as <U>Exhibit F</U>, dated the date of the Placement Notice. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(o) <I>Legal Opinions.</I> On or prior to the date that the first Securities are sold pursuant to the terms of this Agreement, within two
(2)&nbsp;Trading Days of each Representation Date with respect to which the Company is obligated to deliver a certificate in the form attached hereto as <U>Exhibit F</U> for which no waiver is applicable, the Company shall cause to be furnished to
J.P. Morgan Securities written opinions of Hogan Lovells US LLP (&#147;<U>Company Counsel</U>&#148;), or other counsel satisfactory to J.P. Morgan Securities, in form and substance satisfactory to J.P. Morgan Securities and its counsel, dated the
date that the opinions are required to be delivered, substantially similar to the forms attached hereto as <U>Exhibit E</U>, modified, as necessary, to relate to the Registration Statement and the Prospectus as then amended or supplemented;
<I>provided</I>, <I>however</I>, that in lieu of such opinions for subsequent Representation Dates, counsel may furnish J.P. Morgan Securities with a letter (a &#147;<U>Reliance Letter</U>&#148;) to the effect that J.P. Morgan Securities may rely on
a prior opinion delivered under this Section&nbsp;7(o) to the same extent as if it were dated the date of such letter (except that statements in such prior opinion shall be deemed to relate to the Registration Statement and the Prospectus as amended
or supplemented at such Representation Date). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(p) <I>Comfort Letter</I>. On or prior to the date that the first Securities are sold
pursuant to the terms of this Agreement, within two (2)&nbsp;Trading Days of each Representation Date with respect to which the Company is obligated to deliver a certificate substantially in the form attached hereto as <U>Exhibit F</U> for which no
waiver is applicable, the Company shall cause its independent accountants (and any other independent accountants whose report is included in the Registration Statement or the Prospectus) to furnish J.P. Morgan Securities letters (the
&#147;<U>Comfort Letters</U>&#148;), dated the date of the Comfort Letter is delivered, in form and substance satisfactory to </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">23 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
J.P. Morgan Securities, (i)&nbsp;confirming that they are an independent registered public accounting firm within the meaning of the Securities Act, the Exchange Act and the PCAOB,
(ii)&nbsp;stating, as of such date, the conclusions and findings of such firm with respect to the financial information and other matters ordinarily covered by accountants&#146; &#147;comfort letters&#148; to underwriters in connection with
registered public offerings (the first such letter, the &#147;<U>Initial Comfort Letter</U>&#148;) and (iii)&nbsp;updating the Initial Comfort Letter with any information that would have been included in the Initial Comfort Letter had it been given
on such date and modified as necessary to relate to the Registration Statement and the Prospectus, as amended and supplemented to the date of such letter. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(q) <I>Market Activities</I>. The Company will not, directly or indirectly, (i)&nbsp;take any action designed to cause or result in, or that
constitutes or might reasonably be expected to constitute, the stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Securities or (ii)&nbsp;sell, bid for, or purchase the Securities to be
issued and sold pursuant to this Agreement, or pay anyone any compensation for soliciting purchases of the Securities to be issued and sold pursuant to this Agreement other than J.P. Morgan Securities; <I>provided</I>, <I>however</I>, that the
Company may bid for and purchase its Common Stock in accordance with Rule <FONT STYLE="white-space:nowrap">10b-18</FONT> under the Exchange Act; and provided further, that no such bids or purchases shall be made by the Company during the two
(2)&nbsp;Trading Days before or after any sale of any Securities pursuant to this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(r) <I>Insurance</I>. The Company and its
subsidiaries shall maintain, or caused to be maintained, insurance in such amounts and covering such risks as is reasonable and customary for companies engaged in similar businesses in similar industries, except where the failure to maintain such
insurance would not have a Material Adverse Effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(s) <I>Compliance with Laws</I>. The Company and each of its subsidiaries shall
maintain, or cause to be maintained, all material environmental permits, licenses and other authorizations required by federal, state and local law in order to conduct their businesses as described in the Prospectus, and the Company and each of its
subsidiaries shall conduct their businesses, or cause their businesses to be conducted, in substantial compliance with such permits, licenses and authorizations and with applicable environmental laws, except where the failure to maintain or be in
compliance with such permits, licenses and authorizations could not reasonably be expected to have a Material Adverse Effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(t)
<I>Investment Company Act</I>. The Company will conduct its affairs in such a manner so as to reasonably ensure that neither it nor its subsidiaries will be or become, at any time prior to the termination of this Agreement, an &#147;investment
company,&#148; as such term is defined in the Investment Company Act, assuming no change in the Commission&#146;s current interpretation as to entities that are not considered an investment company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(u) <I>Securities Act and Exchange Act</I>. The Company will use its best efforts to comply with all requirements imposed upon it by the
Securities Act and the Exchange Act as from time to time in force, so far as necessary to permit the continuance of sales of, or dealings in, the Placement Securities as contemplated by the provisions hereof and the Prospectus. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">24 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) <I>No Offer to Sell</I>. Other than a free writing prospectus (as defined in Rule 405 under
the Securities Act) approved in advance in writing by the Company and the Agents in their respective capacities as a principal or agent hereunder or under the Alternative Equity Distribution Agreements, the Company (including its agents and
representatives, other than the Agents in their respective capacities as such) will not, directly or indirectly, make, use, prepare, authorize, approve or refer to any free writing prospectus relating to the Securities to be sold by the Agents as
principal or agent hereunder or under an Alternative Equity Distribution Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(w) <I>Sarbanes-Oxley Act</I>. The Company and its
subsidiaries will use their best efforts to comply with all effective applicable provisions of the Sarbanes-Oxley Act of 2002. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(x)
<I>Regulation M</I>. If the Company has reason to believe that the exemptive provisions set forth in Rule 101(c)(1) of Regulation M under the Exchange Act are not satisfied with respect to the Company or the Common Stock, it shall promptly notify
J.P. Morgan Securities and sales of the Placement Securities under this Agreement shall be suspended until that or other exemptive provisions have been satisfied in the judgment of each party. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(y) <I>REIT Treatment</I>. The Company currently intends to continue to elect to qualify as a REIT under the Code and will use its best
efforts to enable the Company to continue to meet the requirements for qualification and taxation as a REIT under the Code for subsequent tax years that include any portion of the term of this Agreement; unless the Company&#146;s Board in good faith
determines by resolution that it is in the best interests of the Company&#146;s stockholders not to meet such requirements. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 8.
<U>Payment of Expenses</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Expenses</I>. The Company will pay all expenses incident to the performance of its obligations under
this Agreement, including (i)&nbsp;the preparation, printing and filing of the Registration Statement (including financial statements and exhibits) as originally filed and of each amendment and supplement thereto, (ii)&nbsp;the word processing,
printing and delivery to J.P. Morgan Securities of this Agreement and such other documents as may be required in connection with the offering, purchase, sale, issuance or delivery of the Placement Securities, (iii)&nbsp;the preparation, issuance and
delivery of the certificates for the Placement Securities to J.P. Morgan Securities, including any stock or other transfer taxes and any capital duties, stamp duties or other duties or taxes payable upon the sale, issuance or delivery of the
Placement Securities to J.P. Morgan Securities, (iv)&nbsp;the fees and disbursements of the counsel, accountants and other advisors to the Company, (v)&nbsp;the qualification or exemption of the Placement Securities under securities laws in
accordance with the provisions of Section&nbsp;7(e) hereof, including filing fees and the reasonable fees and disbursements of counsel for J.P. Morgan Securities in connection therewith and in connection with the preparation of the Blue Sky Survey
and any supplements thereto (not to exceed $10,000), (vi) the printing and delivery to J.P. Morgan Securities of copies of any permitted Free Writing Prospectus and the Prospectus and any amendments or supplements thereto and any costs associated
with electronic delivery of any of the foregoing by J.P. Morgan Securities to investors, (vii)&nbsp;the preparation, printing and delivery to J.P. Morgan Securities of copies of the Blue Sky Survey and any Canadian &#147;wrapper&#148; and any
supplements </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">25 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
thereto, (viii)&nbsp;the fees and expenses of the custodian and the transfer agent and registrar for the Securities, (ix)&nbsp;the filing fees incident to, and the reasonable fees and
disbursements of counsel to J.P. Morgan Securities in connection with, any review by FINRA of the terms of the sale of the Securities, (x)&nbsp;the fees and expenses incurred in connection with the listing of the Placement Securities on the NYSE,
and (xi)&nbsp;if Securities having an aggregate offering price of $25,000,000 or more have not been offered and sold under this Agreement and the Alternative Equity Distribution Agreements by the eighteen month anniversary of the date of this
Agreement (or such earlier date at which the Company terminates this Agreement) (the &#147;<U>Determination Date</U>&#148;), the Company shall reimburse J.P. Morgan Securities and the Alternative Placement Agents for all of their reasonable <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">out-of-pocket</FONT></FONT> expenses, including the reasonable fees and disbursements of counsel for J.P. Morgan Securities and the Alternative Placement Agents incurred by J.P. Morgan
Securities and the Alternative Placement Agents in connection with the transactions contemplated by this Agreement (the &#147;<U>Expenses</U>&#148;); provided that the Company shall not be obligated to reimburse any such Expenses pursuant to this
Agreement and pursuant to the Alternative Equity Distribution Agreements in excess of $150,000 in the aggregate (and such $150,000 limit shall be reduced pro rata for any portion of such $25,000,000 of Securities actually sold pursuant to this
Agreement and the Alternative Distribution Agreements during such eighteen-month period (i.e., if, for example $6,250,000 of Securities are sold, such limit shall be $112,500; if, for example, $12,500,000 of Securities are sold, such limit shall be
$75,000; and if, for example, $18,750,000 of Securities are sold, such limit shall be $37,500)). The Expenses shall be due and payable by the Company to J.P. Morgan Securities and the Alternative Placement Agents within five (5)&nbsp;business days
of the Determination Date. The Agents shall be solely responsible for allocating any reimbursement pursuant to this subsection among themselves. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <I>Termination of Agreement</I>. If this Agreement is terminated by J.P. Morgan Securities in accordance with the provisions of
Section&nbsp;9(m) or Section&nbsp;13(a)(i) hereof, the Company shall reimburse J.P. Morgan Securities for all of their out of pocket expenses, including the reasonable fees and disbursements of counsel for J.P. Morgan Securities, unless Securities
having an aggregate offering price of $25,000,000 or more have previously been offered and sold under this Agreement and/or the Alternative Distribution Agreements. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 9. <U>Conditions of J.P. Morgan Securities</U><U>&#146;</U><U> Obligations</U>. The obligations of J.P. Morgan Securities hereunder
with respect to a Placement will be subject to the continuing accuracy and completeness of the representations and warranties of the Company contained in this Agreement and in certificates of any officer of the Company or any subsidiary of the
Company delivered pursuant to the provisions hereof, to the performance by the Company of its covenants and other obligations hereunder, and to the following further conditions: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Effectiveness of Registration Statement</I>. The Registration Statement and any Rule 462(b) Registration Statement shall have become
effective and shall be available for (i)&nbsp;all sales of Placement Securities issued pursuant to all prior Placement Notices (each as amended by a corresponding Acceptance, if applicable) and (ii)&nbsp;the sale of all Placement Securities
contemplated to be issued by any Placement Notice (each as amended by a corresponding Acceptance, if applicable). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">26 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <I>No Material Notices</I>. None of the following events shall have occurred and be
continuing: (i)&nbsp;receipt by the Company or any of its subsidiaries of any request for additional information from the Commission or any other federal or state governmental authority during the period of effectiveness of the Registration
Statement, the response to which would require any post-effective amendments or supplements to the Registration Statement or the Prospectus; (ii)&nbsp;the issuance by the Commission or any other federal or state governmental authority of any stop
order suspending the effectiveness of the Registration Statement or the initiation of any proceedings for that purpose; (iii)&nbsp;receipt by the Company of any notification with respect to the suspension of the qualification or exemption from
qualification of any of the Placement Securities for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; or (iv)&nbsp;the occurrence of any event that makes any material statement made in the Registration
Statement or the Prospectus, or any Issuer Free Writing Prospectus, or any material document incorporated or deemed to be incorporated therein by reference untrue in any material respect or that requires the making of any changes in the Registration
Statement, related Prospectus, or any Issuer Free Writing Prospectus, or such documents so that, in the case of the Registration Statement, it will not contain any materially untrue statement of a material fact or omit to state any material fact
required to be stated therein or necessary to make the statements therein not misleading and, that in the case of the Prospectus and any Issuer Free Writing Prospectus, it will not contain any materially untrue statement of a material fact or omit
to state any material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <I>No Material Misstatement or Omission</I>. J.P. Morgan Securities shall not have advised the Company that the Registration Statement or
Prospectus, or any Issuer Free Writing Prospectus, or any amendment or supplement thereto, contains an untrue statement of fact that in J.P. Morgan Securities&#146; reasonable opinion is material, or omits to state a fact that in J.P. Morgan
Securities&#146; opinion is material and is required to be stated therein or is necessary to make the statements therein not misleading. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <I>Material Changes</I>. Except as contemplated in the Prospectus, or disclosed in the Company&#146;s reports filed with the Commission,
there shall not have been any material adverse change in the condition, financial or otherwise, or in the results of operations, business affairs or business prospects of the Company and its subsidiaries considered as one enterprise, whether or not
arising in the ordinary course of business. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) <I>Opinions of Counsel for Company</I>. J.P. Morgan Securities shall have received the
favorable opinions of Company Counsel, required to be delivered pursuant to Section&nbsp;7(o) on or before the date on which such delivery of such opinions is required pursuant to Section&nbsp;7(o). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) <I>Representation Certificate</I>. J.P. Morgan Securities shall have received the certificate required to be delivered pursuant to
Section&nbsp;7(n) on or before the date on which delivery of such certificate is required pursuant to Section&nbsp;7(n). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g)
<I>Accountant&#146;s Comfort Letter</I>. J.P. Morgan Securities shall have received the Comfort Letter required to be delivered pursuant Section&nbsp;7(p) on or before the date on which such delivery of such opinion is required pursuant to
Section&nbsp;7(p). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">27 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) <I>Opinion of Counsel for J.P. Morgan Securities</I>. On or prior to the date that the first
Securities are sold pursuant to the terms of this Agreement, within two (2)&nbsp;Trading Days of each Representation Date with respect to which the Company is obligated to deliver a certificate in the form attached hereto as <U>Exhibit F</U> for
which no waiver is applicable, J.P. Morgan Securities shall have received the favorable written opinion or opinions of Goodwin Procter LLP, counsel for J.P. Morgan Securities, dated such date, with respect to such matters as J.P. Morgan Securities
may reasonably request. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) <I>Approval for Listing</I>. The Placement Securities shall either have been (i)&nbsp;approved for listing on
NYSE, subject only to notice of issuance, or (ii)&nbsp;the Company shall have filed an application for listing of the Placement Securities on NYSE at, or prior to, the issuance of any Placement Notice. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) <I>No Suspension</I>. Trading in the Securities shall not have been suspended on the NYSE. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k) <I>Additional Documents</I>. On each date on which the Company is required to deliver a certificate pursuant to Section&nbsp;7(n), counsel
for J.P. Morgan Securities shall have been furnished with such documents and opinions as they may reasonably require for the purpose of enabling them to pass upon the issuance and sale of the Securities as herein contemplated, or in order to
evidence the accuracy of any of the representations or warranties, or the fulfillment of any of the conditions, contained in this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(l) <I>Securities Act Filings Made</I>. All filings with the Commission required by Rule 424 under the Securities Act to have been filed prior
to the issuance of any Placement Notice hereunder shall have been made within the applicable time period prescribed for such filing by Rule 424. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(m) <I>Termination of Agreement</I>. If any condition specified in this Section&nbsp;9 shall not have been fulfilled when and as required to
be fulfilled, this Agreement may be terminated by J.P. Morgan Securities by notice to the Company, and such termination shall be without liability of any party to any other party except as provided in Section&nbsp;8 hereof and except that, in the
case of any termination of this Agreement, Sections&nbsp;5, 10, 11, 12 and 22 hereof shall survive such termination and remain in full force and effect. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 10. <U>Indemnification</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Indemnification by the Company</I>. The Company agrees to indemnify and hold harmless J.P. Morgan Securities, its affiliates (as such
term is defined in Rule 501(b) of the Securities Act), and each person, if any, who controls J.P. Morgan Securities within the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) against any and all loss, liability, claim, damage and expense whatsoever, as incurred, arising out of any untrue statement
or alleged untrue statement of a material fact contained in the Registration Statement (or any amendment thereto), including any information deemed to be a part thereof pursuant to Rule 430B, or the omission or alleged omission therefrom of a
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">28 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">
material fact required to be stated therein or necessary to make the statements therein not misleading, or arising out of any untrue statement or alleged untrue statement of a material fact
included (A)&nbsp;in any Issuer Free Writing Prospectus or the Prospectus (or any amendment or supplement thereto) or (B)&nbsp;in any materials or information provided to investors by, or with the approval of, the Company in connection with the
marketing of any offering of Securities (&#147;<U>Marketing Materials&#148;)</U>, including any roadshow or investor presentations made to investors by the Company (whether in person or electronically), or the omission or alleged omission therefrom
of a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) against any and all loss, liability, claim, damage and expense whatsoever, as incurred, to the extent of the aggregate
amount paid in settlement of any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or of any claim whatsoever based upon any such untrue statement or omission, or any such alleged untrue
statement or omission; provided that (subject to Section&nbsp;10(d) below) any such settlement is effected with the written consent of the Company; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) against any and all expense whatsoever, as incurred (including the fees and disbursements of counsel chosen by J.P.
Morgan Securities), reasonably incurred in investigating, preparing or defending against any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or any claim whatsoever based upon any such
untrue statement or omission, or any such alleged untrue statement or omission, to the extent that any such expense is not paid under (i)&nbsp;or (ii) above, </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>provided</I>, <I>however</I>, that this indemnity agreement shall not apply to any loss, liability, claim, damage or expense to the extent arising out of
any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with information furnished to the Company in writing by J.P. Morgan Securities expressly for use therein, it being understood and agreed
that the only such information furnished by J.P. Morgan Securities as of the date hereof consists of the Agent Information. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b)
<I>Indemnification by J.P. Morgan Securities</I>. J.P. Morgan Securities agrees to indemnify and hold harmless the Company, its trustees, each of its officers who signed the Registration Statement, and each person, if any, who controls the Company
within the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act against any and all loss, liability, claim, damage and expense described in the indemnity contained in subsection (a)&nbsp;of this Section&nbsp;10, as
incurred, but only with respect to untrue statements or omissions, or alleged untrue statements or omissions, made in the Registration Statement (or any amendment thereto), any Issuer Free Writing Prospectus or the Prospectus (or any amendment or
supplement thereto) in reliance upon and in conformity with information furnished to the Company in writing by J.P. Morgan Securities expressly for use therein, it being understood and agreed that the only such information furnished by J.P. Morgan
Securities as of the date hereof consists of the Agent Information. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">29 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <I>Actions against Parties; Notification</I>. Each indemnified party shall give notice as
promptly as reasonably practicable to each indemnifying party of any action commenced against it in respect of which indemnity may be sought hereunder, but failure to so notify an indemnifying party shall not relieve such indemnifying party from any
liability hereunder to the extent it is not materially prejudiced as a result thereof and in any event shall not relieve it from any liability which it may have otherwise than on account of this indemnity agreement. Counsel to the indemnified
parties shall be selected as follows: counsel to J.P. Morgan Securities and each person, if any, who controls J.P. Morgan Securities within the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act shall be selected
by J.P. Morgan Securities; and counsel to the Company, its trustees, each of its officers who signed the Registration Statement and each person, if any, who controls the Company within the meaning of Section&nbsp;15 of the Securities Act or
Section&nbsp;20 of the Exchange Act shall be selected by the Company. An indemnifying party may participate at its own expense in the defense of any such action; <I>provided</I>, <I>however</I>, that counsel to the indemnifying party shall not
(except with the consent of the indemnified party) also be counsel to the indemnified party. In no event shall the indemnifying parties be liable for the fees and expenses of more than one counsel (in addition to any local counsel) separate from
their own counsel for J.P. Morgan Securities and each person, if any, who controls J.P. Morgan Securities within the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act, and the fees and expenses of more than one
counsel (in addition to any local counsel) separate from their own counsel for the Company, its trustees, each of its officers who signed the Registration Statement and each person, if any, who controls the Company within the meaning of
Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act, in each case in connection with any one action or separate but similar or related actions in the same jurisdiction arising out of the same general allegations or
circumstances. No indemnifying party shall, without the prior written consent of the indemnified parties, settle or compromise or consent to the entry of any judgment with respect to any litigation, or any investigation or proceeding by any
governmental agency or body, commenced or threatened, or any claim whatsoever in respect of which indemnification or contribution could be sought under this Section&nbsp;10 or Section&nbsp;11 hereof (whether or not the indemnified parties are actual
or potential parties thereto), unless such settlement, compromise or consent (i)&nbsp;includes an unconditional release of each indemnified party from all liability arising out of such litigation, investigation, proceeding or claim and
(ii)&nbsp;does not include a statement as to or an admission of fault, culpability or a failure to act by or on behalf of any indemnified party. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <I>Settlement Without Consent if Failure to Reimburse</I>. If at any time an indemnified party shall have requested an indemnifying party
to reimburse the indemnified party for fees and expenses of counsel, such indemnifying party agrees that it shall be liable for any settlement of the nature contemplated by Section&nbsp;10(a)(ii) effected without its written consent if (i)&nbsp;such
settlement is entered into more than 45 days after receipt by such indemnifying party of the aforesaid request, (ii)&nbsp;such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement
being entered into and (iii)&nbsp;such indemnifying party shall not have reimbursed such indemnified party in accordance with such request prior to the date of such settlement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">30 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 11. <U>Contribution</U>. If the indemnification provided for in Section&nbsp;10 hereof is
for any reason unavailable to or insufficient to hold harmless an indemnified party in respect of any losses, liabilities, claims, damages or expenses referred to therein, then each indemnifying party shall contribute to the aggregate amount of such
losses, liabilities, claims, damages and expenses incurred by such indemnified party, as incurred, (i)&nbsp;in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and J.P. Morgan Securities on
the other hand from the offering of the Securities pursuant to this Agreement or (ii)&nbsp;if the allocation provided by clause (i)&nbsp;is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative
benefits referred to in clause (i)&nbsp;above but also the relative fault of the Company on the one hand and of J.P. Morgan Securities on the other hand in connection with the statements or omissions. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The relative benefits received by the Company on the one hand and J.P. Morgan Securities on the other hand in connection with the offering of
the Securities pursuant to this Agreement shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Securities pursuant to this Agreement (before deducting expenses) received by the Company and the
total commissions received by J.P. Morgan Securities, in each case as set forth on the cover of the Prospectus, bear to the aggregate public offering price of the Securities as set forth on such cover. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The relative fault of the Company on the one hand and J.P. Morgan Securities on the other hand shall be determined by reference to, among
other things, whether the untrue or the alleged untrue statement of a material fact or omission or alleged omission to state a material fact relates to information supplied by the Company or by J.P. Morgan Securities and the parties&#146; relative
intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company and J.P. Morgan
Securities agree that it would not be just and equitable if contribution pursuant to this Section&nbsp;11 were determined by pro rata allocation or by any other method of allocation which does not take account of the equitable considerations
referred to above in this Section&nbsp;11. The aggregate amount of losses, liabilities, claims, damages and expenses incurred by an indemnified party and referred to above in this Section&nbsp;11 shall be deemed to include any legal or other
expenses reasonably incurred by such indemnified party in investigating, preparing or defending against any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or any claim whatsoever based
upon any such untrue or alleged untrue statement or omission or alleged omission. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Notwithstanding the provisions of this Section&nbsp;11,
J.P. Morgan Securities shall not be required to contribute any amount in excess of the amount by which the total price at which the Securities underwritten by it and distributed to the public were offered to the public exceeds the amount of any
damages which J.P. Morgan Securities has otherwise been required to pay by reason of any such untrue or alleged untrue statement or omission or alleged omission. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">No person guilty of fraudulent misrepresentation (within the meaning of Section&nbsp;11(f) of the Securities Act) shall be entitled to
contribution from any person who was not guilty of such fraudulent misrepresentation. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">31 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">For purposes of this Section&nbsp;11, each person, if any, who controls J.P. Morgan Securities
within the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act shall have the same rights to contribution as J.P. Morgan Securities, and each trustee of the Company, each officer of the Company who signed the
Registration Statement, and each person, if any, who controls the Company within the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act shall have the same rights to contribution as the Company. The Alternative
Placement Agents&#146; respective obligations to contribute pursuant to this Section&nbsp;11 are several in proportion to the number of Securities placed or underwritten by it in the applicable offering.<U> </U> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 12. <U>Representations, Warranties and Agreements to Survive Delivery</U>. All representations, warranties and agreements contained in
this Agreement or in certificates of officers of the Company or any of its subsidiaries submitted pursuant hereto, shall remain operative and in full force and effect, regardless of any investigation made by or on behalf of J.P. Morgan Securities or
controlling person, or by or on behalf of the Company, and shall survive delivery of the Securities to J.P. Morgan Securities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION
13. <U>Termination of Agreement</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Termination; General</I>. J.P. Morgan Securities may terminate this Agreement, by notice to
the Company, as hereinafter specified at any time (i)&nbsp;if there has been, since the time of execution of this Agreement or since the date as of which information is given in the Prospectus, any material adverse change in the condition, financial
or otherwise, or in the results of operations, business affairs or business prospects of the Company and its subsidiaries considered as one enterprise, whether or not arising in the ordinary course of business, or (ii)&nbsp;if there has occurred any
material adverse change in the financial markets in the United States or the international financial markets, any outbreak of hostilities or escalation thereof or other calamity or crisis or any change or development involving a prospective change
in national or international political, financial or economic conditions, in each case the effect of which is such as to make it, in the judgment of J.P. Morgan Securities, impracticable or inadvisable to market the Securities or to enforce
contracts for the sale of the Securities, or (iii)&nbsp;if trading in the Placement Securities has been suspended or limited by the Commission or the NYSE, or if trading generally on the NYSE American, the NYSE or the Nasdaq Stock Market has been
suspended or limited, or minimum or maximum prices for trading have been fixed, or maximum ranges for prices have been required, by any of said exchanges or by order of the Commission, the FINRA or any other governmental authority, or a material
disruption has occurred in commercial banking or securities settlement or clearance services in the United States or in Europe, or (iv)&nbsp;if a banking moratorium has been declared by either Federal or New York authorities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <I>Termination by the Company</I>. The Company shall have the right, by giving three (3)&nbsp;days&#146; notice as hereinafter specified
to terminate this Agreement in their sole discretion at any time after the date of this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <I>Termination by J.P. Morgan
Securities</I>. J.P. Morgan Securities shall have the right, by giving three (3)&nbsp;days&#146; notice as hereinafter specified to terminate this Agreement in its sole discretion at any time after the date of this Agreement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">32 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <I>Automatic Termination</I>. Unless earlier terminated pursuant to this Section&nbsp;13,
this Agreement shall automatically terminate upon the issuance and sale of all of the Placement Securities through J.P. Morgan Securities and the Alternative Placement Agents on the terms and subject to the conditions set forth herein and in the
Alternative Equity Distribution Agreements with an aggregate sale price equal to the amount set forth in Section&nbsp;1 of this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) <I>Continued Force and Effect</I>. This Agreement shall remain in full force and effect unless terminated pursuant to Sections&nbsp;13(a),
(b), (c) or (d)&nbsp;above or otherwise by mutual agreement of the parties. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) <I>Effectiveness of Termination</I>. Any termination of
this Agreement shall be effective on the date specified in such notice of termination; <I>provided</I>, <I>however</I>, that such termination shall not be effective until the close of business on the date of receipt of such notice by J.P. Morgan
Securities or the Company, as the case may be. If such termination shall occur prior to the Settlement Date for any sale of Placement Securities, such Placement Securities shall settle in accordance with the provisions of this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) <I>Liabilities</I>. If this Agreement is terminated pursuant to this Section&nbsp;13, such termination shall be without liability of any
party to any other party except as provided in Section&nbsp;8 hereof, and except that, in the case of any termination of this Agreement, Section&nbsp;5, Section&nbsp;10, Section&nbsp;11, Section&nbsp;12, and Section&nbsp;22 hereof shall survive such
termination and remain in full force and effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 14. <U>Notices</U>. Except as otherwise provided in this Agreement, all notices
and other communications hereunder shall be in writing and shall be deemed to have been duly given if mailed or transmitted by any standard form of telecommunication. Notices to J.P. Morgan Securities shall be directed to J. P. Morgan Securities at
J.P. Morgan Securities LLC, 383 Madison Avenue, 6<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> Floor, New&nbsp;York, NY 10179, Attention: Adam Rosenbluth (fax no.: (646) <FONT STYLE="white-space:nowrap">441-4870);</FONT> notices to the
Company shall be directed to it at 1775 Eye Street NW, Suite 1000, Washington, D.C. 20006, fax no. (212) <FONT STYLE="white-space:nowrap">379-3554,</FONT> Attention of Stephen E. Riffee, Chief Financial Officer, cc: Taryn D. Fielder, General
Counsel. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 15. <U>Parties</U>. This Agreement shall inure to the benefit of and be binding upon J.P. Morgan Securities, the Company
and their respective successors. Nothing expressed or mentioned in this Agreement is intended or shall be construed to give any person, firm or corporation, other than J.P. Morgan Securities, the Company and their respective successors and the
controlling persons and officers and trustees referred to in Sections&nbsp;10 and 11 and their heirs and legal representatives, any legal or equitable right, remedy or claim under or in respect of this Agreement or any provision herein contained.
This Agreement and all conditions and provisions hereof are intended to be for the sole and exclusive benefit of J.P. Morgan Securities, the Company and their respective successors, and said controlling persons and officers and trustees and their
heirs and legal representatives, and for the benefit of no other person, firm or corporation. No purchaser of Securities from J.P. Morgan Securities shall be deemed to be a successor by reason merely of such purchase. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">33 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 16. <U>Adjustments for Stock Splits</U>. The parties acknowledge and agree that all
stock-related numbers contained in this Agreement shall be adjusted to take into account any stock split, stock dividend or similar event effected with respect to the Securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 17. <U>Governing Law; Time and Jurisdiction</U>. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE
STATE OF NEW YORK. <B></B>SPECIFIED TIMES OF DAY REFER TO NEW YORK CITY TIME. Any action, suit or proceeding to enforce any provision of, or based on any matter arising out of or in connection with, this Agreement or the transactions contemplated
hereby shall be brought in any federal court located in the Southern District of the State of New York or any New York state court located in the Borough of Manhattan, and the Company agrees to the exclusive jurisdiction of such courts (and of the
appropriate appellate courts therefrom) and each party waives (to the full extent permitted by law) any objection it may have to the laying of venue of any such suit, action or proceeding in any such court or that any such suit, action or proceeding
has been brought in an inconvenient forum. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 18. <U>Effect of Headings</U>. The Section and Exhibit headings herein are for
convenience only and shall not affect the construction hereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 19. <U>Counterparts</U>. This Agreement may be executed in two or
more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Delivery of an executed Agreement by one party to the other may be made by facsimile or <FONT
STYLE="white-space:nowrap">e-mail</FONT> transmission. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 20. <U>Definitions</U>. As used in this Agreement, the following terms
have the respective meanings set forth below: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Applicable Time</U>&#148; means the time of each sale of any Securities or any
securities pursuant to this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Commission</U>&#148; means the Securities and Exchange Commission. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>EDGAR</U>&#148; means the Commission&#146;s Electronic Data Gathering, Analysis and Retrieval system. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Exchange Act</U>&#148; means the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission
thereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>FINRA</U>&#148; means the Financial Industry Regulatory Authority, Inc. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>GAAP</U>&#148; means generally accepted accounting principles. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Investment Company Act</U>&#148; means the Investment Company Act of 1940, as amended. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">34 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Issuer Free Writing Prospectus</U>&#148; means any &#147;issuer free writing
prospectus,&#148; as defined in Rule 433, relating to the Securities that (i)&nbsp;is required to be filed with the Commission by the Company, (ii)&nbsp;is a &#147;road show&#148; that is a &#147;written communication&#148; within the meaning of
Rule 433(d)(8)(i) whether or not required to be filed with the Commission, or (iii)&nbsp;is exempt from filing pursuant to Rule 433(d)(5)(i) because it contains a description of the Securities or of the offering that does not reflect the final
terms, and all free writing prospectuses that are listed in <U>Exhibit G</U> hereto, in each case in the form furnished (electronically or otherwise) to J.P. Morgan Securities for use in connection with the offering of the Securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>NYSE</U>&#148; means the New York Stock Exchange. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Rule 163</U>,&#148; &#147;<U>Rule 164</U>,&#148; &#147;<U>Rule 172</U>,&#148; &#147;<U>Rule 405</U>,&#148; &#147;<U>Rule
415</U>,&#148; &#147;<U>Rule 424(b)</U>,&#148; &#147;<U>Rule 430B</U>,&#148; &#147;<U>Rule 433</U>&#148; and &#147;<U>Rule 462(b)</U>&#148; refer to such rules under the Securities Act. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Rule 462(b) Registration Statement</U>&#148; means a registration statement filed by the Company pursuant to Rule 462(b) for the
purpose of registering any of the Securities under the Securities Act, including the documents incorporated by reference therein and the Rule 430A Information. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Sarbanes-Oxley Act</U>&#148; means the Sarbanes-Oxley Act of 2002 and the rules and regulations promulgated thereunder or
implementing the provisions thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Securities Act</U>&#148; means the Securities Act of 1933, as amended, and the rules and
regulations of the Commission thereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">All references in this Agreement to financial statements and schedules and other information
that is &#147;contained,&#148; &#147;included&#148; or &#147;stated&#148; in the Registration Statement or the Prospectus (and all other references of like import) shall be deemed to mean and include all such financial statements and schedules and
other information that is incorporated by reference in the Registration Statement or the Prospectus, as the case may be. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">All references
in this Agreement to the Registration Statement, any Rule 462(b) Registration Statement, the Prospectus or any amendment or supplement to any of the foregoing shall be deemed to include the copy filed with the Commission pursuant to EDGAR; all
references in this Agreement to any Issuer Free Writing Prospectus (other than any Issuer Free Writing Prospectuses that, pursuant to Rule 433, are not required to be filed with the Commission) shall be deemed to include the copy thereof filed with
the Commission pursuant to EDGAR; and all references in this Agreement to &#147;supplements&#148; to the Prospectus shall include, without limitation, any supplements, &#147;wrappers&#148; or similar materials prepared in connection with any
offering, sale or private placement of any Placement Securities by J.P. Morgan Securities outside of the United States. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 21.
<U>Permitted Free Writing Prospectuses</U>. The Company represents, warrants and agrees that, unless it obtains the prior consent of J.P. Morgan Securities, and J.P. Morgan Securities represents, warrants and agrees that, unless it obtains the prior
consent of the Company, it has not made and will not make any offer relating to the Securities that would constitute an Issuer Free Writing Prospectus, or that would otherwise constitute a &#147;free writing
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">35 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
prospectus,&#148; as defined in Rule 405, required to be filed with the Commission. Any such free writing prospectus consented to by J.P. Morgan Securities or by the Company, as the case may be,
is hereinafter referred to as a &#147;Permitted Free Writing Prospectus.&#148; The Company represents and warrants that it has treated and agrees that it will treat each Permitted Free Writing Prospectus as an &#147;issuer free writing
prospectus,&#148; as defined in Rule 433, and has complied and will comply with the requirements of Rule 433 applicable to any Permitted Free Writing Prospectus, including timely filing with the Commission where required, legending and record
keeping. For the purposes of clarity, the parties hereto agree that all free writing prospectuses, if any, listed in <U>Exhibit G</U> hereto are Permitted Free Writing Prospectuses. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 22. <U>Absence of Fiduciary Relationship</U>. The Company acknowledges and agrees that: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) J.P. Morgan Securities is acting solely as agent and/or principal in connection with the public offering of the Securities and in
connection with each transaction contemplated by this Agreement and the process leading to such transactions, and no fiduciary or advisory relationship between the Company or any of its respective affiliates, stockholders (or other equity holders),
creditors or employees or any other party, on the one hand, and J.P. Morgan Securities, on the other hand, has been or will be created in respect of any of the transactions contemplated by this Agreement, irrespective of whether or not J.P. Morgan
Securities has advised or is advising the Company on other matters, and J.P. Morgan Securities has no obligation to the Company with respect to the transactions contemplated by this Agreement except the obligations expressly set forth in this
Agreement; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) any public offering price of the Securities set forth in this Agreement was not established by J.P. Morgan Securities;
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) it is capable of evaluating and understanding, and understands and accepts, the terms, risks and conditions of the transactions
contemplated by this Agreement; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) J.P. Morgan Securities has not provided any legal, accounting, regulatory or tax advice with respect
to the transactions contemplated by this Agreement and it has consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) it is aware that J.P. Morgan Securities and its respective affiliates are engaged in a broad range of transactions which may involve
interests that differ from those of the Company and J.P. Morgan Securities has no obligation to disclose such interests and transactions to the Company by virtue of any fiduciary, advisory or agency relationship or otherwise; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) it waives, to the fullest extent permitted by law, any claims it may have against J.P. Morgan Securities for breach of fiduciary duty or
alleged breach of fiduciary duty and agrees that J.P. Morgan Securities shall not have any liability (whether direct or indirect, in contract, tort or otherwise) to it in respect of such a fiduciary duty claim or to any person asserting a fiduciary
duty claim on its behalf or in right of it or the Company, employees or creditors of Company. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">36 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If the foregoing is in accordance with your understanding of our agreement, please sign and
return to the Company a counterpart hereof, whereupon this instrument, along with all counterparts, will become a binding agreement between J.P. Morgan Securities and the Company in accordance with its terms. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Very truly yours,</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">WASHINGTON REAL ESTATE INVESTMENT TRUST</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Stephen E. Riffee</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Name: Stephen E. Riffee</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Title: &nbsp;&nbsp;Executive Vice President and</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; text-indent:2.40em; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;Chief Financial Officer</P></TD></TR>
</TABLE></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="5%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="93%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:2.00em; text-indent:-2.00em; font-size:10pt; font-family:Times New Roman">CONFIRMED AND ACCEPTED, as of the date first above written:</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">J.P. MORGAN&nbsp;SECURITIES LLC</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Adam S. Rosenbluth</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Authorized Signatory</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Adam Rosenbluth</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Executive Director</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">37 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT A </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>FORM OF PLACEMENT NOTICE </U></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="5%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="16%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="75%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">From:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">[</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">]</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Cc:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">[`</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">]</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">To:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">[</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">]</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Subject: Equity Distribution&#151;Placement Notice </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Gentlemen: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the terms and subject to
the conditions contained in the Equity Distribution Agreement between Washington Real Estate Investment Trust (the &#147;<U>Company</U>&#148;) and J.P. Morgan&nbsp;Securities LLC (&#147;<U>J.P. Morgan Securities</U>&#148;) dated May&nbsp;4, 2018
(the &#147;<U>Agreement</U>&#148;), I hereby request on behalf of the Company that J.P. Morgan Securities sell up to [&#149;] [or $[&#149;] in aggregate offering price of] Common Shares of Beneficial Interest, par value $0.01 per share (the
&#147;<U>Securities</U>&#148;), at a minimum market price of $[&#149;] per share. The Company shall pay J.P. Morgan Securities compensation equal to [&#149;]% of the gross proceeds from the sale of the Securities set forth in this Placement Notice.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>[ADDITIONAL SALES PARAMETERS MAY BE ADDED, SUCH AS THE TIME PERIOD IN WHICH SALES ARE REQUESTED TO BE MADE, SPECIFIC DATES THE SHARES MAY NOT BE SOLD
ON, THE MANNER IN WHICH SALES ARE TO BE MADE BY J.P. MORGAN SECURITIES, AND/OR THE CAPACITY IN WHICH J.P. MORGAN SECURITIES MAY ACT IN SELLING SHARES (AS PRINCIPAL, AGENT, OR BOTH)] </B></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A-1 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT B </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>AUTHORIZED INDIVIDUALS FOR PLACEMENT NOTICES AND ACCEPTANCES </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>J.P. Morgan&nbsp;Securities LLC </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Adam Rosenbluth
</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email: <U>adam.s.rosenbluth@jpmorgan.com</U> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ara H.
Movsesian </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email: <U>ara.movsesian@jpmorgan.com</U> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Jemil
D. Salih </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email: <U>jemil.d.salih@jpmorgan.com</U> </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Washington Real Estate Investment Trust </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Stephen
E. Riffee </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email: <U>sriffee@washreit.com</U> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Paul T.
McDermott </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email: <U>pmcdermott@washreit.com</U> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Taryn D.
Fielder </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email: <U>tfielder@washreit.com</U> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">B-1 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT C </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>COMPENSATION </U></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">J.P. Morgan
Securities shall be paid compensation equal to up to 2.0% of the gross proceeds from the sales of Securities pursuant to the terms of this Agreement. The actual compensation paid to J.P. Morgan Securities shall be set forth in the applicable
Placement Notice. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">C-1 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT D </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>SIGNIFICANT SUBSIDIARIES OF THE COMPANY </U></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="35%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="30%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="30%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:20.00pt; display:inline; font-size:8pt; font-family:Times New Roman; "><B>Name</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman"><B>Jurisdiction of</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1.00pt solid #000000; width:49.45pt; display:inline; font-size:8pt; font-family:Times New Roman; "><B>Organization</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:49.30pt; display:inline; font-size:8pt; font-family:Times New Roman; "><B>Type of Entity</B></P></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">WashREIT OP LLC</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Delaware</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Limited Liability Company</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">WashREIT OP Sub DC LLC</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Delaware</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Limited Liability Company</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">D-1 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT E </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>FORM OF OPINIONS OF COMPANY COUNSEL </U></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">E-1 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT F </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>OFFICER CERTIFICATE </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The
undersigned [&#149;], the duly qualified and elected [&#149;] of Washington Real Estate Investment Trust (&#147;<U>Company</U>&#148;), a Maryland real estate investment trust, does hereby certify in such capacity and on behalf of the Company,
pursuant to Section&nbsp;7(n) of each of the Equity Distribution Agreements dated May&nbsp;4, 2018 (collectively, the &#147;<U>Agreements</U>&#148;) between the Company and each of Wells Fargo Securities, LLC, BNY Mellon Capital Markets, LLC,
Capital One Securities, Inc., Citigroup Global Markets Inc., Goldman Sachs&nbsp;&amp; Co. LLC, J.P. Morgan Securities LLC, KeyBanc Capital Markets Inc. and SunTrust Robinson Humphrey, Inc. (collectively, the &#147;<U>Agents</U>&#148;) that to the
knowledge of the undersigned: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The representations and warranties of the Company in Section&nbsp;5 of each of the Agreements (A)&nbsp;to
the extent such representations and warranties are subject to qualifications and exceptions contained therein relating to materiality or Material Adverse Effect, are true and correct on and as of the date hereof with the same force and effect as if
expressly made on and as of the date hereof, except for those representations and warranties that speak solely as of a specific date and which were true and correct as of such date, and (B)&nbsp;to the extent such representations and warranties are
not subject to any qualifications or exceptions, are true and correct in all material respects as of the date hereof as if made on and as of the date hereof with the same force and effect as if expressly made on and as of the date hereof except for
those representations and warranties that speak solely as of a specific date and which were true and correct as of such date; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The
Company has complied in all material respects with all agreements and satisfied all conditions on their part to be performed or satisfied pursuant to each of the Agreements at or prior to the date hereof (other than those conditions waived by the
Agents). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-1 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT G </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>ISSUER FREE WRITING PROSPECTUSES </U></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">None </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">G-1 </P>

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<DOCUMENT>
<TYPE>EX-1.7
<SEQUENCE>8
<FILENAME>d582540dex17.htm
<DESCRIPTION>EX-1.7
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 1.7 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Washington Real Estate Investment Trust </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">$250,000,000 of Common Shares of Beneficial Interest </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EQUITY DISTRIBUTION AGREEMENT </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dated:
May&nbsp;4, 2018 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TABLE OF CONTENTS </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="96%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Page</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 1. Description of Securities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2. Placements</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 3. Sale of Placement Securities by KeyBanc</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4. Suspension of Sales</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 5. Representations and Warranties</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6. Sale and Delivery to KeyBanc; Settlement</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7. Covenants of the Company</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 8. Payment of Expenses</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 9. Conditions of KeyBanc&#146;s Obligations</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 10. Indemnification</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">28</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11. Contribution</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">30</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 12. Representations, Warranties and Agreements to Survive Delivery</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">31</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 13. Termination of Agreement</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">31</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 14. Notices</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">32</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 15. Parties</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 16. Adjustments for Stock Splits</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 17. Governing Law; Time and Jurisdiction</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 18. Effect of Headings</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 19. Counterparts</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 20. Definitions</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 21. Permitted Free Writing Prospectuses</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 22. Absence of Fiduciary Relationship</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">i </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXHIBITS </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Exhibit&nbsp;A</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">&#150;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Form of Placement Notice</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Exhibit B</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">&#150;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Authorized Individuals for Placement Notices and Acceptances</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Exhibit C</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">&#150;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Compensation</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Exhibit D</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">&#150;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Significant Subsidiaries of the Company</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Exhibit E</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">&#150;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Form of Opinions of Company Counsel</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Exhibit F</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">&#150;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Officer Certificate</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Exhibit G</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">&#150;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Issuer Free Writing Prospectus</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ii </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Washington Real Estate Investment Trust </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">$250,000,000 of Common Shares of Beneficial Interest </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>EQUITY DISTRIBUTION AGREEMENT </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">May&nbsp;4, 2018 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">KeyBanc Capital Markets Inc.
</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">127 Public Square, 4th Floor </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Cleveland, Ohio 44114 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ladies and Gentlemen: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Washington Real Estate
Investment Trust, a Maryland real estate investment trust (the &#147;<U>Company</U>&#148;), confirms its agreement (this &#147;<U>Agreement</U>&#148;) with KeyBanc&nbsp;Capital Markets Inc. (&#147;<U>KeyBanc</U>&#148;), as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 1. <U>Description of Securities</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company agrees that, from time to time during the term of this Agreement, on the terms and subject to the conditions set forth herein, it
may issue and sell through KeyBanc, acting as agent and/or principal, Common Shares of Beneficial Interest, par value $0.01 per share (the &#147;<U>Common Stock</U>&#148;), having an aggregate sale price of up to $250,000,000 (such Common Shares,
the &#147;Securities&#148;, and such maximum amount, the &#147;<U>Maximum Amount</U>&#148;). Notwithstanding anything to the contrary contained herein, the parties hereto agree that compliance with the limitations set forth in this Section&nbsp;1
regarding the aggregate sale price of the Securities issued and sold under this Agreement shall be the sole responsibility of the Company, and KeyBanc shall have no obligation in connection with such compliance. The issuance and sale of the
Securities through KeyBanc will be effected pursuant to the Registration Statement (as defined below) filed by the Company with the Securities and Exchange Commission (the &#147;<U>Commission</U>&#148;), which became effective upon filing, although
nothing in this Agreement shall be construed as requiring the Company to use the Registration Statement to issue the Securities. The Company agrees that whenever it determines to sell Securities directly to KeyBanc as principal it will enter into a
separate written agreement containing the terms and conditions of such sale. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company has also entered into separate equity
distribution agreements with respect to the Securities (each, an &#147;<U>Alternative Equity Distribution Agreement</U>&#148; and collectively, the &#147;<U>Alternative Equity Distribution Agreements</U>&#148;), each dated as of the date hereof,
with Wells Fargo Securities, LLC, BNY Mellon Capital Markets, LLC, Capital One Securities, Inc., Citigroup Global Markets Inc., Goldman Sachs&nbsp;&amp; Co. LLC, J.P. Morgan&nbsp;Securities LLC and SunTrust Robinson&nbsp;Humphrey, Inc. (each, an
&#147;<U>Alternative Placement Agent</U>&#148; and collectively, the &#147;<U>Alternative Placement Agents</U>&#148;, and, together with KeyBanc, the &#147;<U>Agents</U>&#148;). The aggregate offering price of the Securities that may be sold
pursuant to this Agreement and the Alternative Equity Distribution Agreements collectively shall not exceed the Maximum Amount. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company has filed, in accordance with the provisions of the Securities Act, with the
Commission a registration statement on Form <FONT STYLE="white-space:nowrap">S-3</FONT> (File <FONT STYLE="white-space:nowrap">No.&nbsp;333-224135),</FONT> including a base prospectus, relating to certain securities, including the Securities to be
issued from time to time by the Company, and which incorporates by reference documents that the Company has filed or will file in accordance with the provisions of the Securities Exchange Act of 1934, as amended, and the rules and regulations
thereunder (collectively, the &#147;<U>Exchange Act</U>&#148;). The Company has prepared a prospectus supplement specifically relating to the Securities (the &#147;<U>Prospectus Supplement</U>&#148;) to the base prospectus included as part of such
registration statement. The Company will furnish to KeyBanc, for use by KeyBanc, copies of the prospectus included as part of such registration statement, as supplemented by the Prospectus Supplement, relating to the Securities. The
&#147;<U>Registration Statement</U>&#148;, as of any time, means such registration statement as amended by any post-effective amendments thereto at such time, including the exhibits and any schedules thereto at such time, the documents incorporated
or deemed to be incorporated by reference therein at such time pursuant to Item 12 of Form <FONT STYLE="white-space:nowrap">S-3</FONT> under the Securities Act and the documents and information otherwise deemed to be a part thereof as of such time
pursuant to Rule 430B of the Securities Act (&#147;<U>Rule 430B</U>&#148;); <I>provided</I>, <I>however</I>, that the &#147;Registration Statement&#148; without reference to a time means such registration statement as amended by any post-effective
amendments thereto as of the time of the first contract of sale for the Securities, which time shall be considered the &#147;new effective date&#148; of the Registration Statement with respect to the Securities within the meaning of paragraph (f)(2)
of Rule 430B, including the exhibits and schedules thereto at such time, the documents and information incorporated or deemed to be incorporated by reference therein at such time pursuant to Item 12 of Form
<FONT STYLE="white-space:nowrap">S-3</FONT> under the Securities Act and the documents otherwise deemed to be a part thereof as of such time pursuant to Rule 430B. The base prospectus, including all documents incorporated therein by reference,
included in the Registration Statement, as it may be supplemented by the Prospectus Supplement, in the form in which such prospectus and/or Prospectus Supplement have most recently been filed by the Company with the Commission pursuant to Rule
424(b) under the Securities Act is herein called the &#147;<U>Prospectus</U>.&#148; Any reference herein to the Registration Statement, the Prospectus or any amendment or supplement thereto shall be deemed to refer to and include the documents
incorporated by reference therein, and any reference herein to the terms &#147;amend,&#148; &#147;amendment&#148; or &#147;supplement&#148; with respect to the Registration Statement or the Prospectus shall be deemed to refer to and include the
filing after the execution hereof of any document with the Commission deemed to be incorporated by reference therein. For purposes of this Agreement, all references to the Registration Statement, the Prospectus or to any amendment or supplement
thereto shall be deemed to include any copy filed with the Commission pursuant to EDGAR. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 2. <U>Placements</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each time that the Company wishes to issue and sell the Securities hereunder (each, a &#147;<U>Placement</U>&#148;), it will notify KeyBanc by
email notice (or other method mutually agreed to in writing by the parties) containing the parameters in accordance with which it desires the Securities to be sold, which shall at a minimum include the number or dollar amount of Securities to be
issued (the &#147;<U>Placement Securities</U>&#148;), the time period during which sales are requested to be made, any limitation on the number or dollar amount of Securities that may be sold in any one day and any minimum price below which sales
may not be made (a &#147;<U>Placement </U> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
<U>Notice</U>&#148;), a form of which containing such minimum sales parameters necessary is attached hereto as <U>Exhibit A</U>. The Placement Notice shall originate from any of the individuals
from the Company set forth on <U>Exhibit B</U> (with a copy to each of the other individuals from the Company listed on such schedule), and shall be addressed to each of the individuals from KeyBanc set forth on <U>Exhibit B</U>, as such <U>Exhibit
B</U> may be amended from time to time. If KeyBanc wishes to accept such proposed terms included in the Placement Notice (which it may decline to do so for any reason in its sole discretion) or, following discussion with the Company, wishes to
accept amended terms, KeyBanc will, prior to 4:30 p.m. (New York City time) on the Business Day following the Business Day on which such Placement Notice is delivered to KeyBanc, issue to the Company a notice by email (or other method mutually
agreed to in writing by the parties) addressed to all of the individuals from the Company and KeyBanc set forth on <U>Exhibit B</U>) setting forth the terms that KeyBanc is willing to accept. Where the terms provided in the Placement Notice are
amended as provided for in the immediately preceding sentence, such terms will not be binding on the Company or KeyBanc until the Company delivers to KeyBanc an acceptance by email (or other method mutually agreed to in writing by the parties) of
all of the terms of such Placement Notice, as amended (the &#147;<U>Acceptance</U>&#148;), which email shall be addressed to all of the individuals from the Company and KeyBanc set forth on <U>Exhibit B</U>. The Placement Notice (as amended by the
corresponding Acceptance, if applicable) shall be effective upon receipt by the Company of KeyBanc&#146;s acceptance of the terms of the Placement Notice or upon receipt by KeyBanc of the Company&#146;s Acceptance, as the case may be, unless and
until (i)&nbsp;the entire amount of the Placement Securities has been sold, (ii)&nbsp;in accordance with the notice requirements set forth in the second sentence of this paragraph, the Company terminates the Placement Notice, (iii)&nbsp;the Company
issues a subsequent Placement Notice with parameters superseding those on the earlier dated Placement Notice, (iv)&nbsp;this Agreement has been terminated under the provisions of Section&nbsp;13 or (v)&nbsp;either party shall have suspended the sale
of the Placement Securities in accordance with Section&nbsp;4 below. The amount of any discount, commission or other compensation to be paid by the Company to KeyBanc in connection with the sale of the Placement Securities shall be calculated in
accordance with the terms set forth in <U>Exhibit C</U>. It is expressly acknowledged and agreed that neither the Company nor KeyBanc will have any obligation whatsoever with respect to a Placement or any Placement Securities unless and until the
Company delivers a Placement Notice to KeyBanc and either (i)&nbsp;KeyBanc accepts the terms of such Placement Notice or (ii)&nbsp;where the terms of such Placement Notice are amended, the Company accepts such amended terms by means of an Acceptance
pursuant to the terms set forth above, and then only upon the terms specified in the Placement Notice (as amended by the corresponding Acceptance, if applicable) and herein. In the event of a conflict between the terms of this Agreement and the
terms of a Placement Notice (as amended by the corresponding Acceptance, if applicable), the terms of the Placement Notice (as amended by the corresponding Acceptance, if applicable) will control. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company agrees that any offer to sell or any sales of Securities pursuant to this Agreement or any Alternative Equity Distribution
Agreement shall only be effected by or through only one of KeyBanc or an Alternative Placement Agent on any single given day, and the Company shall in no event request that KeyBanc and an Alternative Placement Agent sell Securities on the same day;
<I>provided, however, </I>that the foregoing limitation shall only apply with respect to an agency transaction and shall not apply to any&nbsp;principal transaction effected at any time by any Agent and, provided further, such limitation shall not
apply on any day during which no sales are made pursuant to this Agreement. Notwithstanding the foregoing or anything </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
to the contrary contained herein, the Company shall be permitted, at any time and from time to time, to engage one or more additional agents and/or principals, subject to such additional agents
and/or principals executing the expense reimbursement agreement then in effect among the Agents relating only to the sale of the Securities and the transactions contemplated by this Agreement and the Alternative Distribution Agreements, that, once
engaged, may offer to sell, solicit an offer to buy or sell the Securities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 3. <U>Sale of Placement Securities by KeyBanc</U>.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Subject to the provisions of Section&nbsp;6(a), KeyBanc, for the period specified in the Placement Notice, will use its commercially
reasonable efforts consistent with its normal trading and sales practices to sell the Placement Securities up to the amount specified, and otherwise in accordance with the terms of such Placement Notice (as amended by the corresponding Acceptance,
if applicable). KeyBanc will provide written confirmation to the Company no later than the opening of the Trading Day (as defined below) immediately following the Trading Day on which it has made sales of Placement Securities hereunder setting forth
the number of Placement Securities sold on such day, the compensation payable by the Company to KeyBanc pursuant to Section&nbsp;2 with respect to such sales, and the Net Proceeds (as defined below) payable to the Company, with an itemization of the
deductions made by KeyBanc (as set forth in Section&nbsp;6(b)) from the gross proceeds that it receives from such sales. Subject to the terms of the Placement Notice (as amended by the corresponding Acceptance, if applicable), KeyBanc may sell
Placement Securities by any method permitted by law deemed to be an &#147;at the market&#148; offering as defined in Rule 415 under the Securities Act, including without limitation sales made directly on the NYSE, on any other existing trading
market for the Common Stock or to or through a market maker. Subject to the terms of the Placement Notice (as amended by the corresponding Acceptance, if applicable), KeyBanc may also sell Placement Securities by any other method permitted by law,
including but not limited to in privately negotiated transactions, which may include block trades. The Company acknowledges and agrees that (i)&nbsp;there can be no assurance that KeyBanc will be successful in selling Placement Securities, and
(ii)&nbsp;KeyBanc will incur no liability or obligation to the Company or any other person or entity if it does not sell Placement Securities for any reason other than a failure by KeyBanc to use its commercially reasonable efforts consistent with
its normal trading and sales practices to sell such Placement Securities as required under this Section&nbsp;3. For the purposes hereof, &#147;<U>Trading Day</U>&#148; means any day on which shares of Common Stock are purchased and sold on the
principal market on which the Common Stock is listed or quoted. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 4. <U>Suspension of Sales</U>. The Company or KeyBanc may, upon
notice to the other party in writing (including by email correspondence to each of the individuals of the other party set forth on <U>Exhibit B</U>, if receipt of such correspondence is actually acknowledged by any of the individuals to whom the
notice is sent, other than via auto-reply) or by telephone (confirmed immediately by verifiable facsimile transmission or email correspondence to each of the individuals of the other party set forth on <U>Exhibit B</U>), suspend any sale of
Placement Securities; <I>provided</I>, <I>however</I>, that such suspension shall not affect or impair either party&#146;s obligations with respect to any Placement Securities sold hereunder prior to the receipt of such notice or any Placement
Securities sold under the Alternative Equity Distribution Agreements. Each of the parties agrees that no such notice under this Section&nbsp;4 shall be effective against the other unless it is made to one of the individuals named on <U>Exhibit B</U>
hereto, as such <U>Exhibit B</U> may be amended from time to time. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 5. <U>Representations and Warranties</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Representations and Warranties by the Company</I>. The Company represents and warrants to KeyBanc as of the date hereof and as of each
Representation Date (as defined below) on which a certificate is required to be delivered pursuant to Section&nbsp;7(n) of this Agreement, as of each Applicable Time and as of each Settlement Date (as defined below), and agrees with KeyBanc, as
follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) <U>Compliance with Registration Requirements</U>. The Securities have been duly registered under the
Securities Act pursuant to the Registration Statement. The Registration Statement has become effective under the Securities Act, or, with respect to any registration statement to be filed to register the offer and sale of the Securities pursuant to
Rule 462(b) under the Securities Act (a &#147;<U>Rule 462(b) Registration Statement</U>&#148;), will be filed with the Commission and become effective under the Securities Act no later than 10:00 p.m. (New York City time), on the date of
determination of the public offering price for the Securities, and no stop order preventing or suspending the use of any base prospectus, the Prospectus Supplement, the Prospectus or any Permitted Free Writing Prospectus (as defined below), or the
effectiveness of the Registration Statement or any Rule 462(b) Registration Statement and no proceedings for such purpose have been instituted or are pending or, to the knowledge of the Company, are contemplated by the Commission, and any request on
the part of the Commission for additional information has been complied with. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">At the respective times each of the
Registration Statement, any Rule 462(b) Registration Statement and any post-effective amendments thereto became or becomes effective and as of the date hereof, the Registration Statement, any Rule 462(b) Registration Statement and any amendments and
supplements thereto complied and will comply in all material respects with the requirements of the Securities Act. The conditions for the use of Form <FONT STYLE="white-space:nowrap">S-3,</FONT> as set forth in the General Instructions thereto, and
the Registration Statement meets, and the offering and sale of the Securities as contemplated hereby complies with, the requirements of Rule 415 under the Securities Act (including, without limitation, Rule 415(a)(5)). The Registration Statement, as
of the date hereof and each effective date with respect thereto, did not and will not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not
misleading. Neither the Prospectus nor any amendments or supplements thereto, as of their respective dates, and at each Applicable Time and Settlement Date, as the case may be, included or will include an untrue statement of a material fact or
omitted or will omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">The representations and warranties set forth in the immediately preceding
paragraph shall not apply to statements in or omissions from the Registration Statement or the Prospectus, as amended or supplemented, made in reliance upon and in conformity with information furnished to the Company in writing by KeyBanc expressly
for use therein. For purposes of this Agreement, the only information so furnished as of the date hereof shall be KeyBanc&#146;s name (the &#147;<U>Agent Information</U>&#148;). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">The copies of the Registration Statement and any Rule 462(b) Registration Statement and any amendments thereto, any other
preliminary prospectus, each Issuer Free Writing Prospectus that is required to be filed with the Commission pursuant to Rule 433 and the Prospectus and any amendments or supplements thereto delivered and to be delivered to KeyBanc (electronically
or otherwise) in connection with the offering of the Securities were and will be identical to the electronically transmitted copies thereof filed with the Commission pursuant to EDGAR, except to the extent permitted by Regulation <FONT
STYLE="white-space:nowrap">S-T.</FONT> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each Issuer Free Writing Prospectus relating to the Securities, as of its issue
date and as of each Applicable Time and Settlement Date, did not, does not and will not include any information that conflicted, conflicts or will conflict with the information contained in the Registration Statement or the Prospectus, including any
incorporated document deemed to be a part thereof that has not been superseded or modified, or included, includes or will include an untrue statement of a material fact or omitted, omits or will omit to state a material fact necessary in order to
make the statements therein, in light of the circumstances, prevailing at that subsequent time, not misleading. The foregoing sentence does not apply to statements in or omissions from any Issuer Free Writing Prospectus based upon and in conformity
with written information furnished to the Company by KeyBanc specifically for use therein. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">At the time of the initial
filing of the Registration Statement, at the time of the most recent amendment thereto for the purposes of complying with Section&nbsp;10(a)(3) of the Securities Act (whether such amendment was by post-effective amendment, incorporated report filed
pursuant to Section&nbsp;13 or 15(d) of the Exchange Act or form of prospectus), at the time the Company or another offering participant made a bona fide offer (within the meaning, for this paragraph only, of Rule 164(h)(2) of the Securities Act),
the Company was and is a &#147;well-known seasoned issuer&#148; as defined in Rule 405 of the Securities Act, including not having been and not being an &#147;ineligible issuer,&#148; as defined in Rule 405 of the Securities Act; and, without
limitation to the foregoing, the Company has at all relevant times met, meets and will at all relevant times meet the requirements of Rule 164 for the use of a free writing prospectus (as defined in Rule 405) in connection with the offering
contemplated hereby. The Company agrees to pay the fees required by the Commission relating to the Securities within the time required by Rule 456(b)(1) without regard to the proviso therein and otherwise in accordance with Rules 456(b) and 457(r).
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each document incorporated by reference in the Registration Statement or the
Prospectus heretofore filed, when it was filed (or, if any amendment with respect to any such document was filed, when such amendment was filed), conformed in all material respects with the requirements of the Exchange Act, and any further documents
so filed and incorporated after the date of this Agreement will, when they are filed, conform in all material respects with the requirements of the Exchange Act; no such document when it was filed (or, if an amendment with respect to any such
document was filed, when such amendment was filed), contained an untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make the statements therein not misleading; and no such
document, when it is filed, will contain an untrue statement of a material fact or will omit to state a material fact required to be stated therein or necessary in order to make the statements therein not misleading. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) <U>Prior Written Communications</U>. Any offer that is a written communication relating to the Securities made prior to the
initial filing of the Registration Statement by the Company or any person acting on its behalf (within the meaning, for this paragraph only, of Rule 163(c) of the Securities Act) has been filed with the Commission in accordance with the exemption
provided by Rule 163 of the Securities Act and otherwise complied with the requirements of Rule 163 of the Securities Act, including without limitation the legending requirement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) <U>Good Standing of Company</U>. The Company has been duly organized and is validly existing as a real estate investment
trust of unlimited duration with transferable shares of beneficial interest in good standing under the laws of the State of Maryland, with full power and authority to own, lease and operate its properties and to conduct its business as described in
the Registration Statement and the Prospectus and to enter into this Agreement and to consummate the transactions contemplated by the Registration Statement and the Prospectus. The Company is duly qualified to transact business and is in good
standing in each jurisdiction in which such qualification is required, whether by reason of the ownership or leasing of property or the conduct of business, except where the failure to so qualify or be in good standing would not result in a material
adverse change in the condition, financial or otherwise, or the results of operations, business, properties or prospects of the Company and its subsidiaries considered as one enterprise, whether or not arising in the ordinary course of business (a
&#147;<U>Material Adverse Effect</U>&#148;). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) <U>Subsidiaries</U>. Each &#147;significant subsidiary&#148; of the
Company (as such term is defined in Rule <FONT STYLE="white-space:nowrap">1-02</FONT> of Regulation <FONT STYLE="white-space:nowrap">S-X</FONT> promulgated under the Securities Act) (each, a &#147;Subsidiary&#148; and, collectively, the
&#147;Subsidiaries&#148;) (which term includes corporations, limited and general partnerships, limited liability companies, joint ventures and other entities, and includes direct and indirect subsidiaries), has been duly organized and is validly
existing as a corporation, limited liability company or partnership, as the case may be, in good standing under the laws of the jurisdiction of its incorporation or organization, has power and authority to own, lease and operate its properties and
to conduct its business as described in the Registration Statement and the Prospectus and is duly qualified to transact business and is in good standing in each jurisdiction in which such qualification is required, whether by reason of the ownership
or leasing of property or the conduct of business, except where the failure to so qualify or be in good standing would not result in a Material Adverse Effect. Except as otherwise stated in the Registration Statement or the Prospectus, all of the
issued and outstanding capital stock or other ownership interests of each subsidiary have been duly authorized and validly </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
issued, are fully paid and <FONT STYLE="white-space:nowrap">non-assessable</FONT> and are owned by the Company, directly or through subsidiaries, free and clear of any security interest,
mortgage, pledge, lien, encumbrance, claim or equity; and none of the outstanding shares of capital stock of any subsidiary was issued in violation of preemptive or other similar rights of any security holder of such subsidiary. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(5) <U>Capitalization</U>. The Securities and all other outstanding Common Stock have been duly authorized; the authorized
equity capitalization of the Company is as set forth in the Prospectus; all outstanding Common Stock is, and, when the Securities have been delivered and paid for in accordance with this Agreement or any Alternative Equity Distribution Agreement,
such Securities will have been, validly issued, fully paid and nonassessable, will be consistent with the information in the Prospectus and will conform to the description thereof contained in the Prospectus; the shareholders of the Company have no
preemptive rights with respect to the Securities; and none of the outstanding Common Stock has been issued in violation of any preemptive or similar rights of any security holder. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(6) <U>Absence of Further Requirements</U>. No consent, approval, authorization, or order of, or filing or registration with,
any person (including any governmental agency or body or any court) is required for the consummation by the Company of the transactions contemplated by this Agreement in connection with the offering, issuance and sale of the Securities by the
Company, except such as have been obtained under the Securities Act, and such as may be required under state securities laws. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(7) <U>Title to Property</U>. The Company and its subsidiaries have good and marketable title to, or valid and enforceable
leasehold estates in, all items of real and personal property referred to in the Registration Statement and the Prospectus as owned or leased by them, in each case free and clear of all liens, encumbrances, claims, security interests and defects,
other than those disclosed in the Registration Statement or the Prospectus or that would not, individually or in the aggregate, have a Material Adverse Effect. The Company has no reasonable basis to believe that the lessee under any lease calling
for annual lease payments in excess of one percent of the Company&#146;s annual revenue for its last fiscal year is not financially capable of performing its obligations thereunder (excluding leases for which rent payments due for the remainder of
such lease are less than such amount). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(8) <U>Absence of Defaults and Conflicts Resulting from Transaction</U>. The
execution, delivery and performance of this Agreement, and the issuance and sale of the Securities and compliance with the terms and provisions thereof will not result in a breach or violation of any of the terms and provisions of, or constitute a
default or a Debt Repayment Triggering Event (as defined below) under, or result in the imposition of any lien, charge or encumbrance upon any property or assets of the Company or any of its subsidiaries pursuant to, the declaration of trust,
partnership agreement, charter or bylaws or other organizational documents of the Company or any of its subsidiaries, any statute, rule, regulation or order of any governmental agency or body or any court, domestic or foreign, having jurisdiction
over the Company or any of its subsidiaries or any of their properties, or any agreement or instrument to which the Company or any of its </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>


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subsidiaries is a party or by which the Company or any of its subsidiaries is bound or to which any of the properties of the Company or any of its subsidiaries is subject; a &#147;Debt Repayment
Triggering Event&#148; means any event or condition that gives, or with the giving of notice or lapse of time would give, the holder of any note, debenture, or other evidence of indebtedness (or any person acting on such holder&#146;s behalf) the
right to require the repurchase, redemption or repayment of all or a portion of such indebtedness by the Company or any of its subsidiaries. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(9) <U>Absence of Existing Defaults and Conflicts</U>. Neither the Company nor any of its subsidiaries is (i)&nbsp;in violation
of its respective declaration of trust, partnership agreement, charter or bylaws or other organizational document or (ii)&nbsp;in default (or with the giving of notice or lapse of time would be in default) under any existing obligation, agreement,
covenant or condition contained in any indenture, loan agreement, mortgage, lease or other agreement or instrument to which any of them is a party or by which any of them is bound or to which any of the properties of any of them is subject or
(iii)&nbsp;in violation of any law or statute or any judgment, order, rule or regulation of any court or arbitrator or governmental or regulatory authority, except, in the case of clauses (ii)&nbsp;and (iii) above, for any such default or violation
that would not, individually or in the aggregate, have a Material Adverse Effect or materially and adversely affect the ability of the Company to perform its obligations under this Agreement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(10) <U>Authorization of Agreement</U>. This Agreement has been duly authorized, executed and delivered by the Company. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(11) <U>Possession of Licenses and Permits</U>. The Company and its subsidiaries possess, and are in compliance with the terms
of, all certificates, authorizations, franchises, licenses and permits (&#147;<U>Licenses</U>&#148;) necessary or material to the conduct of the business now conducted or proposed in the Registration Statement and the Prospectus to be conducted by
them and have not received any notice of proceedings relating to the revocation or modification of any Licenses that, if determined adversely to the Company or any of its subsidiaries, would individually or in the aggregate have a Material Adverse
Effect. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(12) <U>Absence of Labor Dispute</U>. No labor dispute with the employees of the Company or any of its
subsidiaries exists or, to the knowledge of the Company, is imminent, and the Company is not aware of any existing or imminent labor disturbance by the employees of any of its or its subsidiaries&#146; principal suppliers, contractors or customers,
that, in any such case, would have a Material Adverse Effect. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(13) <U>Possession of Intellectual Property</U>. The Company
and its subsidiaries own, possess or can acquire on reasonable terms, adequate trademarks, trade names and other rights to inventions, <FONT STYLE="white-space:nowrap">know-how,</FONT> patents, copyrights, confidential information and other
intellectual property (collectively, &#147;intellectual property rights&#148;) necessary to conduct the business now operated by them, or presently employed by them, and have not received any notice of infringement of or conflict with asserted
rights of others with respect to any intellectual property rights that, if determined adversely to the Company or any of its subsidiaries, would individually or in the aggregate have a Material Adverse Effect. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">9 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(14) <U>Environmental Laws</U>. Except as disclosed in the Registration Statement
and the Prospectus, neither the Company nor any of its subsidiaries is in violation of any statute, any rule, regulation, decision or order of any governmental agency or body or any court, domestic or foreign, relating to the use, disposal or
release of hazardous or toxic substances or relating to the protection or restoration of the environment or human exposure to hazardous or toxic substances (collectively, &#147;environmental laws&#148;), owns or operates any real property
contaminated with any substance that is subject to any environmental laws, is liable for any <FONT STYLE="white-space:nowrap">off-site</FONT> disposal or contamination pursuant to any environmental laws, or is subject to any claim relating to any
environmental laws, which violation, contamination, liability or claim would individually or in the aggregate have a Material Adverse Effect; and the Company is not aware of any pending investigation which might lead to such a claim. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(15) <U>Accurate Disclosure</U>. The statements in, or incorporated by reference into, the Registration Statement and the
Prospectus under the headings &#147;Description of Shares,&#148; &#147;Description of Common Shares,&#148; &#147;Material U.S. Federal Income Tax Considerations&#148; and &#147;Risk Factors&#148; and the statements in the Registration Statement
under Item 15 insofar as such statements summarize legal matters, agreements, documents or proceedings discussed therein, are accurate and fair summaries of such legal matters, agreements, documents or proceedings and present the information
required to be shown in all material respects. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(16) <U>REIT Status</U>. With respect to all tax periods regarding which
the Internal Revenue Service is or will be entitled to assert any claim, the Company has met the requirements for qualification as a real estate investment trust (&#147;<U>REIT</U>&#148;) under Sections 856 through 860 of the Internal Revenue Code,
as amended (the &#147;<U>Code</U>&#148;), and the Company&#146;s current organization and present and contemplated operations, assets and income as described in the Registration Statement and the Prospectus will permit the Company to continue to
meet such requirements. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(17) <U>Insurance</U>. The Company and its subsidiaries are insured by insurers of recognized
financial responsibility against such losses and risks and in such amounts as are prudent and customary in the businesses in which they are engaged; the Company has no reason to believe that it or any of its subsidiaries will not be able to renew
its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business at a cost that would not have a Material Adverse Effect; and the Company and each of
its subsidiaries has obtained title insurance on all of the properties owned by each of them in an amount at least equal to the original purchase price to acquire land and improvements and such title insurance is in full force and effect. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(18) <U>Taxes</U>. The Company has filed all federal, state and foreign income tax returns that have been required to be filed
and has paid all taxes indicated by said returns and all assessments, fines and penalties received by it to the extent that such taxes, assessments, fines or penalties have become due. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">10 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(19) <U>Statistical and Market-Related Data</U>. Any third-party statistical and
market-related data included or incorporated by reference in the Registration Statement or the Prospectus are based on or derived from sources that the Company believes to be reliable and accurate. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(20) <U>Compliance with Sarbanes-Oxley Act</U>. Except as set forth in the Registration Statement and the Prospectus,
(i)&nbsp;the Company, its subsidiaries and the Company&#146;s Board of Trustees (the &#147;<U>Board</U>&#148;) are in compliance in all material respects with Sarbanes-Oxley (as defined below) and all applicable Exchange Rules (as defined below);
(ii)&nbsp;the Company has adopted and disclosed corporate governance guidelines; (iii)&nbsp;the Company maintains a system of internal controls, including, but not limited to, disclosure controls and procedures, internal control over financial
reporting, an internal audit function and legal and regulatory compliance controls (collectively, &#147;<U>Internal Controls</U>&#148;), which complies with the Securities Laws (as defined below) and is overseen by the Audit Committee (the
&#147;<U>Audit Committee</U>&#148;) of the Board in accordance with Exchange Rules; (iv)&nbsp;since December&nbsp;31, 2009, the Company has not publicly disclosed or reported to the Audit Committee or the Board, and within the next 90 days the
Company does not reasonably expect to publicly disclose or report to the Audit Committee or the Board, a significant deficiency, material weakness, change in Internal Controls or fraud involving management or other employees who have a significant
role in Internal Controls (each, an &#147;<U>Internal Control Event</U>&#148;), any violation of, or failure to comply with, the Securities Laws, or any matter which, if determined adversely, would have a Material Adverse Effect; and
(v)&nbsp;&#147;Securities Laws&#148; means, collectively, the Sarbanes-Oxley Act of 2002 (&#147;<U>Sarbanes-Oxley</U>&#148;), the Securities Act, the Exchange Act, the rules and regulations of the Commission, the auditing principles, rules,
standards and practices applicable to auditors of &#147;issuers&#148; (as defined in Sarbanes-Oxley) promulgated or approved by the Public Company Accounting Oversight Board (&#147;<U>PCAOB Rules</U>&#148; and &#147;<U>PCAOB</U>,&#148;
respectively), and, as applicable, the rules of the New York Stock Exchange (&#147;<U>Exchange Rules</U>&#148;). There is and has been no failure on the part of the Company and any of the Company&#146;s trustees or officers, in their capacities as
such, to comply with Sarbanes-Oxley Section&nbsp;402 relating to loans and there is and has been no material failure on the part of the Company and any of the Company&#146;s trustees or officers, in their capacities as such to comply with
Sarbanes-Oxley Sections 302 and 906 relating to certifications. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(21) <U>Litigation</U>. Except as disclosed in the
Registration Statement and the Prospectus, there are no pending actions, suits or proceedings (including any inquiries or investigations by any court or governmental agency or body, domestic or foreign) against or affecting the Company, any of its
subsidiaries or any of their respective properties that, if determined adversely to the Company or any of its subsidiaries, would individually or in the aggregate have a Material Adverse Effect, or would materially and adversely affect the ability
of the Company to perform its obligations under this Agreement, or which are otherwise material in the context of the sale of the Securities; and no such actions, suits or proceedings (including any inquiries or investigations by any court or
governmental agency or body, domestic or foreign) are threatened or, to the Company&#146;s knowledge, contemplated. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">11 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(22) <U>No Registration Rights</U>. No holders of securities of the Company have
rights to the registration of such securities under the Registration Statement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(23) <U>Financial Statements</U>. The
consolidated historical financial statements and schedules of the Company and its consolidated subsidiaries included in the Registration Statement and the Prospectus present fairly the financial condition, results of operations, shareholders&#146;
equity and cash flows of the Company as of the dates and for the periods indicated, comply as to form with the applicable accounting requirements of the Securities Act and have been prepared in conformity with generally accepted accounting
principles applied on a consistent basis throughout the periods involved (except as otherwise noted therein). The selected financial data set forth under the caption &#147;Selected Financial Information&#148; in the Registration Statement and the
Prospectus fairly present, on the basis stated in the Registration Statement and the Prospectus, the information included therein. The pro forma financial statements included in Registration Statement and the Prospectus include assumptions that
provide a reasonable basis for presenting the significant effects directly attributable to the transactions and events described therein, the related pro forma adjustments give appropriate effect to those assumptions, and the pro forma adjustments
reflect the proper application of those adjustments to the historical financial statement amounts in the pro forma financial statements included in the Registration Statement and the Prospectus. The pro forma financial statements included in the
Registration Statement and the Prospectus comply as to form in all material respects with the applicable accounting requirements of Regulation <FONT STYLE="white-space:nowrap">S-X</FONT> under the Securities Act and the pro forma adjustments have
been properly applied to the historical amounts in the compilation of those statements. The historical summaries of revenue and certain operating expenses included in the Registration Statement and the Prospectus present fairly the revenue and those
operating expenses included in such summaries of the properties related thereto for the periods specified in conformity with GAAP. Any information contained in the Registration Statement or the Prospectus regarding
<FONT STYLE="white-space:nowrap">&#147;non-GAAP</FONT> financial measures&#148; (as defined in Regulation G of the Commission) complies with Regulation G and Item 10 of Regulation <FONT STYLE="white-space:nowrap">S-K</FONT> of the Commission, to the
extent applicable. The interactive data in eXtensible Business Reporting Language included or incorporated by reference in the Registration Statement and the Prospectus fairly presents the information called for in all material respects and is
prepared in accordance with the Commission&#146;s rules and guidelines applicable thereto. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(24) <U>Independent
Accountants</U>. The accountants, who certified the financial statements and delivered their reports with respect to the audited consolidated financial statements and supporting schedules included in the Registration Statement and the Prospectus,
are independent registered public accountants with respect to the Company within the meaning of the Securities Act and the applicable published rules and regulations thereunder. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">12 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(25) <U>No Prohibition on Dividends by Subsidiaries</U>. Except as otherwise
provided in a secured loan document relating to a property owned by a subsidiary, no Subsidiary of the Company is currently prohibited, directly or indirectly, from paying any dividends to the Company, from making any other distribution on such
Subsidiary&#146;s capital stock, from repaying to the Company any loans or advances to such subsidiary from the Company or from transferring any of such Subsidiary&#146;s property or assets to the Company or any other subsidiary of the Company,
except as described in or contemplated by the Registration Statement and the Prospectus (exclusive of any supplement thereto). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(26) <U>Absence of Manipulation</U>. The Company has not taken, directly or indirectly, any action designed to or that would
constitute or that might reasonably be expected to cause or result in stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Securities. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(27) <U>ERISA</U>. None of the following events has occurred or exists that would have a Material Adverse Effect: (i)&nbsp;a
failure to fulfill the obligations, if any, under the minimum funding standards of Section&nbsp;302 of the United States Employee Retirement Income Security Act of 1974, as amended (&#147;<U>ERISA</U>&#148;), and the regulations and published
interpretations thereunder with respect to a Plan, determined without regard to any waiver of such obligations or extension of any amortization period; (ii)&nbsp;an audit or investigation by the Internal Revenue Service, the U.S. Department of
Labor, the Pension Benefit Guaranty Corporation or any other federal or state governmental agency or any foreign regulatory agency with respect to the employment or compensation of employees by any of the Company or any of its subsidiaries;
(iii)&nbsp;any breach of any contractual obligation, or any violation of law or applicable qualification standards, with respect to the employment or compensation of employees by the Company or any of its subsidiaries. None of the following events
has occurred or is reasonably likely to occur: (i)&nbsp;a material increase in the aggregate amount of contributions required to be made to all Plans in the current fiscal year of the Company and its subsidiaries compared to the amount of such
contributions made in the most recently completed fiscal year of the Company and its subsidiaries; (ii)&nbsp;a material increase in the &#147;accumulated post-retirement benefit obligations&#148; (within the meaning of Statement of Financial
Accounting Standards 106) of the Company and its subsidiaries compared to the amount of such obligations in the most recently completed fiscal year of the Company and its subsidiaries; (iii)&nbsp;any event or condition giving rise to a liability
under Title IV of ERISA that would have a Material Adverse Effect; or (iv)&nbsp;the filing of a claim by one or more employees or former employees of the Company or any of its subsidiaries related to their employment that would have a Material
Adverse Effect. For purposes of this paragraph, the term &#147;Plan&#148; means a plan (within the meaning of Section&nbsp;3(3) of ERISA) subject to Title IV of ERISA with respect to which the Company or any of its subsidiaries may have any
liability. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(28) <U>Foreign Corrupt Practices Act</U>. Neither the Company nor any of its subsidiaries nor, to the
knowledge of the Company, any trustee, officer, agent, employee or affiliate of the Company or any of its subsidiaries is aware of or has taken any action, directly or indirectly, that would result in a violation by such persons of the Foreign
Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder (the &#147;<U>FCPA</U>&#148;), including, without limitation, making use of the mails or any means or </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">13 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
instrumentality of interstate commerce corruptly in furtherance of an offer, payment, promise to pay or authorization of the payment of any money, or other property, gift, promise to give, or
authorization of the giving of anything of value to any &#147;foreign official&#148; (as such term is defined in the FCPA) or any foreign political party or official thereof or any candidate for foreign political office, in contravention of the
FCPA; and the Company, its subsidiaries and, to the knowledge of the Company, its other affiliates have conducted their businesses in compliance with the FCPA. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(29) <U>Money Laundering Laws</U>. The operations of the Company and its subsidiaries are and have been conducted at all times
in compliance with applicable financial recordkeeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended, the money laundering statutes of all applicable jurisdictions, the rules and regulations
thereunder and any related or similar applicable rules, regulations or guidelines, issued, administered or enforced by any governmental agency (collectively, &#147;<U>Money Laundering Laws</U>&#148;) and no action, suit or proceeding by or before
any court or governmental agency, authority or body or any arbitrator involving the Company or any of its subsidiaries with respect to the Money Laundering Laws is pending or, to the knowledge of the Company, threatened. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(30) <U>OFAC</U>. Neither the Company nor any of its subsidiaries nor, to the knowledge of the Company, any trustee, officer,
agent, employee, affiliate or person acting on behalf of the Company or any of its subsidiaries is currently subject to any U.S. sanctions administered by the Office of Foreign Assets Control of the U.S. Treasury Department
(&#147;<U>OFAC</U>&#148;); and the Company will not directly or indirectly use any of the proceeds received by the Company from the sale of Securities contemplated by this Agreement, or lend, contribute or otherwise make available any such proceeds
to any subsidiary, joint venture partner or other person or entity, for the purpose of financing the activities of any person currently subject to any U.S. sanctions administered by OFAC. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(31) <U>Significant Subsidiaries</U>. The subsidiaries listed on <U>Exhibit D</U> attached hereto are the only significant
subsidiaries of the Company as defined by <FONT STYLE="white-space:nowrap">Rule&nbsp;1-02</FONT> of Regulation <FONT STYLE="white-space:nowrap">S-X.</FONT> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(32) <U>Lending Relationship</U>. Except as disclosed in the Registration Statement and the Prospectus, neither the Company nor
any of its subsidiaries has any outstanding borrowings from, or is a party to any line of credit, credit agreement or other credit facility or otherwise has a borrowing relationship with, any bank or other lending institution affiliated with
KeyBanc, and, except as disclosed in the Registration Statement and the Prospectus, the Company does not intend to use any of the proceeds from the sale of the Securities to repay any debt owed to KeyBanc or any affiliate thereof. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(33) <U>No Other Contracts</U>. There are no contracts or documents that are required to be described in the Registration
Statement or the Prospectus or the documents incorporated by reference therein or to be filed as exhibits thereto that have not been so described and filed as required. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">14 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(34) <U>Investment Company Act</U>. The Company is not and, after giving effect
to the offering and sale of the Securities and the application of the proceeds thereof as described in the Registration Statement and the Prospectus, will not be an &#147;investment company&#148; as defined in the Investment Company Act of 1940 (the
&#147;<U>Investment Company Act</U>&#148;). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(35) <U>Finder&#146;s Fee</U>. Other than this Agreement, there are no
contracts, agreements or understandings between the Company and any person that would give rise to a valid claim against the Company or KeyBanc for a brokerage commission, finder&#146;s fee or other like payment as a result of any transactions
contemplated by this Agreement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(36) <U>Proprietary Trading by KeyBanc</U>. The Company acknowledges and agrees that
KeyBanc has informed the Company that KeyBanc may, to the extent permitted under the Securities Act and the Exchange Act, purchase and sell shares of Common Stock for its own account and for the account of its clients while this Agreement is in
effect, and shall be under no obligation to purchase Securities on a principal basis pursuant to this Agreement, except as otherwise agreed by KeyBanc in the Placement Notice (as amended by the corresponding Acceptance, if applicable); provided,
that no such purchase or sales for KeyBanc&#146;s own account shall take place while a Placement Notice is in effect (except (i)&nbsp;as agreed by KeyBanc in the Placement Notice (as amended by the corresponding Acceptance, if applicable) or
(ii)&nbsp;to the extent KeyBanc may engage in sales of Placement Securities purchased or deemed purchased from the Company as a &#147;riskless principal&#148; or in a similar capacity). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(37) <U>No Material Adverse Change in Business</U>. Except as disclosed in the Prospectus, since the end of the period covered
by the latest audited financial statements included in the Prospectus (i)&nbsp;there has been no change, nor any development or event involving a prospective change, in the condition (financial or otherwise), results of operations, business,
properties or prospects of the Company and its subsidiaries, taken as a whole that is material and adverse, (ii)&nbsp;except for ordinary quarterly dividends, there has been no dividend or distribution of any kind declared, paid or made by the
Company on any class of its capital stock and (iii)&nbsp;there has been no material adverse change in the capital stock, short-term indebtedness, long-term indebtedness, net current assets or net assets of the Company and its subsidiaries. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(38) <U>Actively Traded Security</U>. Except under circumstances where the Company has provided KeyBanc with the notice
required pursuant to Section&nbsp;7(x) of this Agreement, the Common Stock is an &#147;actively traded security&#148; excepted from the requirements of Rule 101 of Regulation M under the Exchange Act by subsection&nbsp;(c)(1) of such rule. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(39) <U>NYSE</U>. The outstanding shares of Common Stock have been and the Securities to be sold by the Company hereunder will
have been approved for listing, subject only to official notice of issuance, on the NYSE, and are registered pursuant to Section&nbsp;12(b) of the Exchange Act, and the Company has taken no action designed to, or likely to have the effect of,
terminating the registration of the Securities under the Exchange Act or delisting any such securities from the NYSE, nor has the Company received any notification that the Commission or the NYSE is contemplating terminating such registration or
listing. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">15 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <I>Certificates</I>. Any certificate signed by any officer of the Company or any of its
subsidiaries and delivered to KeyBanc or to counsel for KeyBanc shall be deemed a representation and warranty by the Company to KeyBanc as to the matters covered thereby. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 6. <U>Sale and Delivery to KeyBanc; Settlement</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Sale of Placement Securities</I>. On the basis of the representations and warranties herein contained and subject to the terms and
conditions herein set forth, upon KeyBanc&#146;s acceptance of the terms of a Placement Notice or upon receipt by KeyBanc of an Acceptance, as the case may be, and unless the sale of the Placement Securities described therein has been declined,
suspended, or otherwise terminated in accordance with the terms of this Agreement, KeyBanc, for the period specified in the Placement Notice (as amended by the corresponding Acceptance, if applicable), will use its commercially reasonable efforts
consistent with its normal trading and sales practices to sell such Placement Securities up to the amount specified, and otherwise in accordance with the terms of such Placement Notice (as amended by the corresponding Acceptance, if applicable). The
Company acknowledges and agrees that (i)&nbsp;there can be no assurance that KeyBanc will be successful in selling Placement Securities, (ii)&nbsp;KeyBanc will incur no liability or obligation to the Company or any other person or entity if it does
not sell Placement Securities for any reason other than a failure by KeyBanc to use its commercially reasonable efforts consistent with its normal trading and sales practices to sell such Placement Securities as required under this Section&nbsp;6
and (iii)&nbsp;KeyBanc shall be under no obligation to purchase Securities on a principal basis pursuant to this Agreement, except as otherwise agreed by KeyBanc in the Placement Notice (as amended by the corresponding Acceptance, if applicable).
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <I>Settlement of Placement Securities</I>. Unless otherwise specified in the applicable Placement Notice (as amended by the
corresponding Acceptance, if applicable), settlement for sales of Placement Securities will occur on the second (2<SUP STYLE="font-size:85%; vertical-align:top">nd</SUP>) Trading Day (or such earlier day as is industry practice for <FONT
STYLE="white-space:nowrap">regular-way</FONT> trading) following the date on which such sales are made (each, a &#147;<U>Settlement Date</U>&#148;). The amount of proceeds to be delivered to the Company on a Settlement Date against receipt of the
Placement Securities sold (the &#147;<U>Net Proceeds</U>&#148;) will be equal to the aggregate sales price received by KeyBanc at which such Placement Securities were sold, after deduction for (i)&nbsp;KeyBanc&#146;s commission, discount or other
compensation for such sales payable by the Company pursuant to Section&nbsp;2 hereof, (ii)&nbsp;any other amounts due and payable by the Company to KeyBanc hereunder pursuant to Section&nbsp;8(a) hereof, and (iii)&nbsp;any transaction fees imposed
by any governmental or self-regulatory organization in respect of such sales. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <I>Delivery of Placement Securities</I>. On or before
each Settlement Date, the Company will, or will cause its transfer agent to, electronically transfer the Placement Securities being sold by crediting KeyBanc&#146;s or its designee&#146;s account (provided KeyBanc shall have given the Company
written notice of such designee prior to the Settlement Date) at The Depository Trust Company through its Deposit and Withdrawal at Custodian System or by such other means </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">16 </P>


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of delivery as may be mutually agreed upon by the parties hereto which in all cases shall be freely tradable, transferable, registered shares in good deliverable form. On each Settlement Date,
KeyBanc will deliver the related Net Proceeds in same day funds to an account designated by the Company on, or prior to, the Settlement Date. The Company agrees that if the Company, or its transfer agent (if applicable), defaults in its obligation
to deliver Placement Securities on a Settlement Date, the Company agrees that in addition to and in no way limiting the rights and obligations set forth in Section&nbsp;10(a) hereto, it will (i)&nbsp;hold KeyBanc harmless against any loss,
liability, claim, damage, or expense whatsoever (including reasonable legal fees and expenses), as incurred, arising out of or in connection with such default by the Company or its transfer agent and (ii)&nbsp;pay to KeyBanc any commission,
discount, or other compensation to which it would otherwise have been entitled absent such default. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <I>Denominations;
Registration</I>. Certificates for the Securities shall be in such denominations and registered in such names as KeyBanc may request in writing at least one full business day before the Settlement Date. The Company shall deliver the Securities, if
any, through the facilities of The Depository Trust Company unless KeyBanc shall otherwise instruct. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) <I>Limitations on Offering
Size</I>. Under no circumstances shall the Company cause or request the offer or sale of any Securities, if after giving effect to the sale of such Securities, the aggregate offering price of the Securities sold pursuant to this Agreement would
exceed the lesser of (A)&nbsp;together with all sales of Securities under the Alternative Equity Distribution Agreements, the Maximum Amount, (B)&nbsp;the amount available for offer and sale under the currently effective Registration Statement and
(C)&nbsp;the amount authorized from time to time to be issued and sold under this Agreement and the Alternative Equity Distribution Agreements by the Company (which authorized amount shall be notified to KeyBanc in writing at any time upon
KeyBanc&#146;s written request during the pendency of an active Placement Notice). Under no circumstances shall the Company cause or request the offer or sale of any Securities pursuant to this Agreement and the Alternative Equity Distribution
Agreements at a price lower than the minimum price authorized from time to time by the Company (which minimum price shall be notified to KeyBanc in writing at any time upon KeyBanc&#146;s written request during the pendency of an active Placement
Notice). Further, under no circumstances shall the aggregate offering price of Securities sold pursuant to this Agreement and the Alternative Equity Distribution Agreements, including any separate underwriting or similar agreement covering principal
transactions described in Section&nbsp;1 of this Agreement, exceed the Maximum Amount. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f)
<I><FONT STYLE="white-space:nowrap">Black-out</FONT> Limitations</I>. Notwithstanding any other provision of this Agreement, the Company shall not offer or sell, or instruct KeyBanc to offer or sell, any Securities through KeyBanc as agent (and, by
notice to KeyBanc given by telephone (confirmed promptly by telecopy or email), shall cancel any instructions for any such offer or sale of any Securities prior to the commencement of the periods referenced below), and KeyBanc shall not be obligated
to make any such offer or sale of Securities, (i)&nbsp;during any period in which the Company is, or could be deemed to be, in possession of material <FONT STYLE="white-space:nowrap">non-public</FONT> information or (ii)&nbsp;except as provided in
Section&nbsp;6(f)(1) hereof, at any time from and including the date on which the Company issues a press release containing, or shall otherwise publicly announce, its earnings, revenues or other operating results for a fiscal period or periods
(each, an &#147;<U>Earnings Announcement</U>&#148;) through and including the time that is 24 hours after the time that the Company files a Quarterly Report on Form <FONT STYLE="white-space:nowrap">10-Q</FONT> or an Annual Report on Form <FONT
STYLE="white-space:nowrap">10-K</FONT> (a &#147;<U>Filing Time</U>&#148;) that includes consolidated financial statements as of and for the same fiscal period or periods, as the case may be, covered by such Earnings Announcement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">17 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) If the Company wishes to offer or sell Securities to KeyBanc as agent at any
time during the period from and including an Earnings Announcement through and including the time that is 24 hours after the corresponding Filing Time, the Company shall first (i)&nbsp;prepare and deliver to KeyBanc (with a copy to counsel to
KeyBanc) a Current Report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> that includes substantially the same financial and related information (together with management&#146;s discussion and analysis thereof) that was included in such Earnings
Announcement (other than any earnings projections and similar forward-looking data and officers&#146; quotations) (each, an &#147;<U>Earnings <FONT STYLE="white-space:nowrap">8-K</FONT></U>&#148;), in form and substance reasonably satisfactory to
KeyBanc, and, prior to its filing, obtain the written consent of KeyBanc to such filing (which consent shall not be unreasonably withheld or delayed), (ii) provide KeyBanc with the officers&#146; certificate, opinions and letters of counsel and
accountants&#146; letter specified in Section&nbsp;7(o), (p) and (q), respectively, hereof, (iii)&nbsp;afford KeyBanc the opportunity to conduct a due diligence review in accordance with Section&nbsp;7(m) hereof prior to filing such Earnings <FONT
STYLE="white-space:nowrap">8-K</FONT> and (iv)&nbsp;file such Earnings <FONT STYLE="white-space:nowrap">8-K</FONT> with the Commission, then the provision of clause (ii)&nbsp;of Section&nbsp;6(f) shall not be applicable for the period from and after
the time at which the foregoing conditions shall have been satisfied (or, if later, the time that is 24 hours after the time that the relevant Earnings Announcement was first publicly released) through and including the time that is 24 hours after
the Filing Time of the relevant Quarterly Report on Form <FONT STYLE="white-space:nowrap">10-Q</FONT> or Annual Report on Form <FONT STYLE="white-space:nowrap">10-K,</FONT> as the case may be. For purposes of clarity, the parties hereto agree that
(A)&nbsp;the delivery of any officers&#146; certificate, opinion or letter of counsel or accountants&#146; letter pursuant to this Section&nbsp;6(f) shall not relieve the Company from any of its obligations under this Agreement with respect to any
Quarterly Report on Form <FONT STYLE="white-space:nowrap">10-Q</FONT> or Annual Report on Form <FONT STYLE="white-space:nowrap">10-K,</FONT> as the case may be, including, without limitation, the obligation to deliver officers&#146; certificates,
opinions and letters of counsel and accountants&#146; letters as provided in Section&nbsp;7(o), (p) and (q), respectively, hereof, and (B)&nbsp;this Section&nbsp;6(f) shall in no way affect or limit the operation of clause (i)&nbsp;of
Section&nbsp;6(f) hereof, which shall have independent application. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 7. <U>Covenants of the Company</U>. The Company covenants
with KeyBanc as follows: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Registration Statement Amendments; Payment of Fees</I>. After the date of this Agreement and during any
period in which a Prospectus relating to any Placement Securities is required to be delivered by KeyBanc under the Securities Act (including in circumstances where such requirement may be satisfied pursuant to Rule 172 under the Securities Act), (i)
the Company will notify KeyBanc promptly of the time when any subsequent amendment to the Registration Statement, other than documents incorporated by reference, has been filed with the Commission and/or has become effective or any subsequent
supplement to the Prospectus has been filed and of any comment letter from the Commission or any request by the Commission for any amendment or supplement to the Registration Statement or Prospectus or for additional information; (ii)&nbsp;the
Company will prepare and file with the Commission, promptly upon KeyBanc&#146;s request, any amendments or supplements to the Registration Statement or Prospectus </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">18 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
that, in KeyBanc&#146;s reasonable opinion, may be necessary or advisable in connection with the distribution of the Placement Securities by KeyBanc (<I>provided</I>, <I>however</I>, that the
failure of KeyBanc to make such request shall not relieve the Company of any obligation or liability hereunder, or affect KeyBanc&#146;s right to rely on the representations and warranties made by the Company in this Agreement); (iii) the Company
will not file any amendment or supplement to the Registration Statement or Prospectus, other than documents incorporated by reference, relating to the Placement Securities or a security convertible into the Placement Securities unless a copy thereof
has been submitted to KeyBanc within a reasonable period of time before the filing and KeyBanc has not reasonably objected thereto (<I>provided</I>, <I>however</I>, that the failure of KeyBanc to make such objection shall not relieve the Company of
any obligation or liability hereunder, or affect KeyBanc&#146;s right to rely on the representations and warranties made by the Company in this Agreement) and the Company will furnish to KeyBanc at the time of filing thereof a copy of any document
that upon filing is deemed to be incorporated by reference into the Registration Statement or Prospectus, except for those documents available via EDGAR; and (iv)&nbsp;the Company will cause each amendment or supplement to the Prospectus, other than
documents incorporated by reference, to be filed with the Commission as required pursuant to the applicable paragraph of Rule 424(b) of the Securities Act (without reliance on Rule 424(b)(8) of the Securities Act). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <I>Notice of Commission Stop Orders</I>. The Company will advise KeyBanc, promptly after it receives notice or obtains knowledge thereof,
of the issuance or threatened issuance by the Commission of any stop order suspending the effectiveness of the Registration Statement or of any other order preventing or suspending the use of the Prospectus or any Issuer Free Writing Prospectus, or
of the suspension of the qualification of the Placement Securities for offering or sale in any jurisdiction or of the loss or suspension of any exemption from any such qualification, or of the initiation or threatening of any proceedings for any of
such purposes, or of any examination pursuant to Section&nbsp;8(e) of the Securities Act concerning the Registration Statement or if the Company becomes the subject of a proceeding under Section&nbsp;8A of the Securities Act in connection with the
offering of the Securities. The Company will make every reasonable effort to prevent the issuance of any stop order, the suspension of any qualification of the Securities for offering or sale and any loss or suspension of any exemption from any such
qualification, and if any such stop order is issued or any such suspension or loss occurs, to obtain the lifting thereof at the earliest possible moment. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <I>Delivery of Registration Statement and Prospectus</I>. The Company will furnish to KeyBanc and its counsel (at the expense of the
Company) copies of the Registration Statement, the Prospectus (including all documents incorporated by reference therein) and all amendments and supplements to the Registration Statement or Prospectus, and any Issuer Free Writing Prospectuses, that
are filed with the Commission during any period in which a Prospectus relating to the Placement Securities is required to be delivered under the Securities Act (including all documents filed with the Commission during such period that are deemed to
be incorporated by reference therein), in each case as soon as reasonably practicable and in such quantities and at such locations as KeyBanc may from time to time reasonably request. The copies of the Registration Statement and the Prospectus and
any supplements or amendments thereto furnished to KeyBanc will be identical to the electronically transmitted copies thereof filed with the Commission pursuant to EDGAR, except to the extent permitted by Regulation
<FONT STYLE="white-space:nowrap">S-T.</FONT> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">19 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <I>Continued Compliance with Securities Laws</I>. If at any time when a Prospectus is
required by the Securities Act or the Exchange Act to be delivered in connection with a pending sale of the Placement Securities (including, without limitation, pursuant to Rule 172), any event shall occur or condition shall exist as a result of
which it is necessary, in the opinion of counsel for KeyBanc or for the Company, to amend the Registration Statement or amend or supplement the Prospectus in order that the Prospectus will not include any untrue statement of a material fact or omit
to state a material fact necessary in order to make the statements therein not misleading in the light of the circumstances existing at the time it is delivered to a purchaser, or if it shall be necessary, in the opinion of such counsel, at any such
time to amend the Registration Statement or amend or supplement the Prospectus in order to comply with the requirements of the Securities Act, the Company will promptly notify KeyBanc to suspend the offering of Placement Securities during such
period and the Company will promptly prepare and file with the Commission such amendment or supplement as may be necessary to correct such statement or omission or to make the Registration Statement or the Prospectus comply with such requirements,
and the Company will furnish to KeyBanc such number of copies of such amendment or supplement as KeyBanc may reasonably request. If at any time following issuance of an Issuer Free Writing Prospectus there occurred or occurs an event or development
as a result of which such Issuer Free Writing Prospectus conflicted, conflicts or would conflict with the information contained in the Registration Statement or the Prospectus or included, includes or would include an untrue statement of a material
fact or omitted, omits or would omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances, prevailing at that subsequent time, not misleading, the Company will promptly notify KeyBanc to
suspend the offering of Placement Securities during such period and the Company will, subject to Section&nbsp;7(a) hereof, promptly amend or supplement such Issuer Free Writing Prospectus to eliminate or correct such conflict, untrue statement or
omission. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) <I>Blue Sky and Other Qualifications</I>. The Company will use its best efforts, in cooperation with KeyBanc, to qualify
the Placement Securities for offering and sale, or to obtain an exemption for the Securities to be offered and sold, under the applicable securities laws of such states and other jurisdictions (domestic or foreign) as KeyBanc may designate and to
maintain such qualifications and exemptions in effect for so long as required for the distribution of the Securities (but in no event for less than one year from the date of this Agreement); <I>provided</I>, <I>however</I>, that the Company shall
not be obligated to file any general consent to service of process or to qualify as a foreign corporation or as a dealer in securities in any jurisdiction in which it is not so qualified or to subject itself to taxation in respect of doing business
in any jurisdiction in which it is not otherwise so subject. In each jurisdiction in which the Placement Securities have been so qualified or exempt, the Company will file such statements and reports as may be required by the laws of such
jurisdiction to continue such qualification or exemption, as the case may be, in effect for so long as required for the distribution of the Placement Securities (but in no event for less than one year from the date of this Agreement). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) <I>Rule 158</I>. The Company will timely file such reports pursuant to the Exchange Act as are necessary in order to make generally
available to its securityholders as soon as reasonably practicable an earnings statement for the purposes of, and to provide to KeyBanc the benefits contemplated by, the last paragraph of Section&nbsp;11(a) of the Securities Act. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) <I>Use of Proceeds</I>. The Company will use the net proceeds received by it from the sale of
the Securities in the manner specified in the Prospectus under &#147;Use of Proceeds.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) <I>Listing</I>. During any period in
which the Prospectus relating to the Placement Securities is required to be delivered by KeyBanc under the Securities Act with respect to a pending sale of the Placement Securities (including in circumstances where such requirement may be satisfied
pursuant to Rule 172 under the Securities Act), the Company will use its commercially reasonable efforts to cause the Placement Securities to be listed on the NYSE. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) <I>Filings with the NYSE</I>. The Company will timely file with the NYSE all material documents and notices required by the NYSE of
companies that have or will issue securities that are traded on the NYSE. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) <I>Reporting Requirements</I>. The Company, during any
period when the Prospectus is required to be delivered under the Securities Act and the Exchange Act (including in circumstances where such requirement may be satisfied pursuant to Rule 172 under the Securities Act), will file all documents required
to be filed with the Commission pursuant to the Exchange Act within the time periods required by the Exchange Act. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k) <I>Notice of Other
Sales</I>. During the pendency of any Placement Notice delivered hereunder (as amended by the corresponding Acceptance, if applicable), the Company will not, without giving KeyBanc at least one (1)&nbsp;business day prior written notice specifying
the nature of the proposed sale and the date of such proposed sale , (A) offer, pledge, announce the intention to sell, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right
or warrant for the sale of, lend or otherwise transfer or dispose of, directly or indirectly, any Common Stock or securities convertible into or exchangeable or exercisable for or repayable with Common Stock, or file any registration statement under
the 1933 Act with respect to any of the foregoing (other than a shelf registration statement under Rule 415 under the 1933 Act, a registration statement on Form <FONT STYLE="white-space:nowrap">S-8</FONT> or post-effective amendment to the
Registration Statement) or (B)&nbsp;enter into any swap or other agreement or any transaction that transfers in whole or in part, directly or indirectly, any of the economic consequence of ownership of the Common Stock, or any securities convertible
into or exchangeable or exercisable for or repayable with Common Stock, whether any such swap or transaction described in clause (A)&nbsp;or (B) above is to be settled by delivery of Common Stock or such other securities, in cash or otherwise. The
foregoing sentence shall not apply to (i)&nbsp;the Common Stock to be offered and sold through KeyBanc and the Alternative Placement Agents pursuant to this Agreement and the Alternative Equity Distribution Agreements, (ii)&nbsp;any shares of Common
Stock issued by the Company upon the exercise of an option or warrant or the conversion, redemption or exchange of a security outstanding at the time such Placement Notice is delivered, including Common Stock issuable upon exchange of operating
partnership units of any operating partnership subsidiary of the Company (&#147;OP Units&#148;), (iii) any issuances of OP Units, (iv)&nbsp;Common Stock issuable pursuant to the Company&#146;s direct dividend reinvestment plan as it may be amended
or replaced from time to time, and (v)&nbsp;equity incentive awards approved by the Board or the compensation committee thereof or the issuance of Common Stock upon exercise thereof. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">21 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(l) <I>Change of Circumstances</I>. The Company will, at any time during a fiscal quarter in
which the Company intends to tender a Placement Notice or sell Placement Securities, advise KeyBanc promptly after it shall have received notice or obtained knowledge thereof, of any information or fact that would alter or affect in any material
respect any opinion, certificate, letter or other document provided to KeyBanc pursuant to this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(m) <I>Due Diligence
Cooperation</I>. The Company will cooperate with any reasonable due diligence review conducted by KeyBanc or its agents in connection with the transactions contemplated hereby, including, without limitation, providing information and making
available documents and senior officers, during regular business hours and at the Company&#146;s principal offices, as KeyBanc may reasonably request. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(n) <I>Representation Dates; Certificate</I>. On or prior to the date that the first Securities are sold pursuant to the terms of this
Agreement and: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) each time the Company: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) files the Prospectus relating to the Placement Securities or amends or supplements the Registration Statement or the
Prospectus relating to the Placement Securities by means of a post-effective amendment, sticker, or supplement but not by means of incorporation of documents by reference into the Registration Statement or the Prospectus relating to the Placement
Securities; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) files an annual report on Form <FONT STYLE="white-space:nowrap">10-K</FONT> under the Exchange Act; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) files a quarterly report on Form <FONT STYLE="white-space:nowrap">10-Q</FONT> under the Exchange Act; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) files a report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> containing amended financial information (other than an
earnings release, to &#147;furnish&#148; information pursuant to Items 2.02 or 7.01 of Form <FONT STYLE="white-space:nowrap">8-K)</FONT> under the Exchange Act; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) at any other time reasonably requested by KeyBanc (each such date of filing of one or more of the documents referred to in
clauses (1)(i) through (iv)&nbsp;and any time of request pursuant to this Section&nbsp;7(n) shall be a &#147;<U>Representation Date</U>&#148;), </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">the Company shall furnish KeyBanc with a certificate, in the form attached hereto as <U>Exhibit F</U> within two (2)&nbsp;Trading Days of any
Representation Date. Except as otherwise notified by KeyBanc with respect to a Representation Date on which the Company files its Form <FONT STYLE="white-space:nowrap">10-K,</FONT> the requirement to provide a certificate under this
Section&nbsp;7(n) shall be waived for any Representation Date occurring at a time at which no Placement Notice (as amended by the corresponding Acceptance, if applicable) is pending, which waiver shall continue until the earlier to occur of the date
the Company delivers a Placement Notice hereunder (which for such calendar quarter shall be considered a Representation Date) and the next occurring Representation Date. Notwithstanding the foregoing, if the Company subsequently decides to sell
Placement Securities following a Representation Date when the Company relied on such waiver and did not provide KeyBanc with a certificate under this Section&nbsp;7(n), then before the Company delivers the Placement Notice or KeyBanc sells any
Placement Securities, the Company shall provide KeyBanc with a certificate, in the form attached hereto as <U>Exhibit F</U>, dated the date of the Placement Notice. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">22 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(o) <I>Legal Opinions.</I> On or prior to the date that the first Securities are sold pursuant to
the terms of this Agreement, within two (2)&nbsp;Trading Days of each Representation Date with respect to which the Company is obligated to deliver a certificate in the form attached hereto as <U>Exhibit F</U> for which no waiver is applicable, the
Company shall cause to be furnished to KeyBanc written opinions of Hogan Lovells US LLP (&#147;<U>Company Counsel</U>&#148;), or other counsel satisfactory to KeyBanc, in form and substance satisfactory to KeyBanc and its counsel, dated the date
that the opinions are required to be delivered, substantially similar to the forms attached hereto as <U>Exhibit E</U>, modified, as necessary, to relate to the Registration Statement and the Prospectus as then amended or supplemented;
<I>provided</I>, <I>however</I>, that in lieu of such opinions for subsequent Representation Dates, counsel may furnish KeyBanc with a letter (a &#147;<U>Reliance Letter</U>&#148;) to the effect that KeyBanc may rely on a prior opinion delivered
under this Section&nbsp;7(o) to the same extent as if it were dated the date of such letter (except that statements in such prior opinion shall be deemed to relate to the Registration Statement and the Prospectus as amended or supplemented at such
Representation Date). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(p) <I>Comfort Letter</I>. On or prior to the date that the first Securities are sold pursuant to the terms of this
Agreement, within two (2)&nbsp;Trading Days of each Representation Date with respect to which the Company is obligated to deliver a certificate substantially in the form attached hereto as <U>Exhibit F</U> for which no waiver is applicable, the
Company shall cause its independent accountants (and any other independent accountants whose report is included in the Registration Statement or the Prospectus) to furnish KeyBanc letters (the &#147;<U>Comfort Letters</U>&#148;), dated the date of
the Comfort Letter is delivered, in form and substance satisfactory to KeyBanc, (i)&nbsp;confirming that they are an independent registered public accounting firm within the meaning of the Securities Act, the Exchange Act and the PCAOB,
(ii)&nbsp;stating, as of such date, the conclusions and findings of such firm with respect to the financial information and other matters ordinarily covered by accountants&#146; &#147;comfort letters&#148; to underwriters in connection with
registered public offerings (the first such letter, the &#147;<U>Initial Comfort Letter</U>&#148;) and (iii)&nbsp;updating the Initial Comfort Letter with any information that would have been included in the Initial Comfort Letter had it been given
on such date and modified as necessary to relate to the Registration Statement and the Prospectus, as amended and supplemented to the date of such letter. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(q) <I>Market Activities</I>. The Company will not, directly or indirectly, (i)&nbsp;take any action designed to cause or result in, or that
constitutes or might reasonably be expected to constitute, the stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Securities or (ii)&nbsp;sell, bid for, or purchase the Securities to be
issued and sold pursuant to this Agreement, or pay anyone any compensation for soliciting purchases of the Securities to be issued and sold pursuant to this Agreement other than KeyBanc; <I>provided</I>, <I>however</I>, that the Company may bid for
and purchase its Common Stock in accordance with Rule <FONT STYLE="white-space:nowrap">10b-18</FONT> under the Exchange Act; and provided further, that no such bids or purchases shall be made by the Company during the two (2)&nbsp;Trading Days
before or after any sale of any Securities pursuant to this Agreement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">23 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(r) <I>Insurance</I>. The Company and its subsidiaries shall maintain, or caused to be
maintained, insurance in such amounts and covering such risks as is reasonable and customary for companies engaged in similar businesses in similar industries, except where the failure to maintain such insurance would not have a Material Adverse
Effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(s) <I>Compliance with Laws</I>. The Company and each of its subsidiaries shall maintain, or cause to be maintained, all material
environmental permits, licenses and other authorizations required by federal, state and local law in order to conduct their businesses as described in the Prospectus, and the Company and each of its subsidiaries shall conduct their businesses, or
cause their businesses to be conducted, in substantial compliance with such permits, licenses and authorizations and with applicable environmental laws, except where the failure to maintain or be in compliance with such permits, licenses and
authorizations could not reasonably be expected to have a Material Adverse Effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(t) <I>Investment Company Act</I>. The Company will
conduct its affairs in such a manner so as to reasonably ensure that neither it nor its subsidiaries will be or become, at any time prior to the termination of this Agreement, an &#147;investment company,&#148; as such term is defined in the
Investment Company Act, assuming no change in the Commission&#146;s current interpretation as to entities that are not considered an investment company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(u) <I>Securities Act and Exchange Act</I>. The Company will use its best efforts to comply with all requirements imposed upon it by the
Securities Act and the Exchange Act as from time to time in force, so far as necessary to permit the continuance of sales of, or dealings in, the Placement Securities as contemplated by the provisions hereof and the Prospectus. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) <I>No Offer to Sell</I>. Other than a free writing prospectus (as defined in Rule 405 under the Securities Act) approved in advance in
writing by the Company and the Agents in their respective capacities as a principal or agent hereunder or under the Alternative Equity Distribution Agreements, the Company (including its agents and representatives, other than the Agents in their
respective capacities as such) will not, directly or indirectly, make, use, prepare, authorize, approve or refer to any free writing prospectus relating to the Securities to be sold by the Agents as principal or agent hereunder or under an
Alternative Equity Distribution Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(w) <I>Sarbanes-Oxley Act</I>. The Company and its subsidiaries will use their best efforts to
comply with all effective applicable provisions of the Sarbanes-Oxley Act of 2002. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(x) <I>Regulation M</I>. If the Company has reason to
believe that the exemptive provisions set forth in Rule 101(c)(1) of Regulation M under the Exchange Act are not satisfied with respect to the Company or the Common Stock, it shall promptly notify KeyBanc and sales of the Placement Securities under
this Agreement shall be suspended until that or other exemptive provisions have been satisfied in the judgment of each party. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(y) <I>REIT
Treatment</I>. The Company currently intends to continue to elect to qualify as a REIT under the Code and will use its best efforts to enable the Company to continue to meet the requirements for qualification and taxation as a REIT under the Code
for subsequent tax years that include any portion of the term of this Agreement; unless the Company&#146;s Board in good faith determines by resolution that it is in the best interests of the Company&#146;s stockholders not to meet such
requirements. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">24 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 8. <U>Payment of Expenses</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Expenses</I>. The Company will pay all expenses incident to the performance of its obligations under this Agreement, including
(i)&nbsp;the preparation, printing and filing of the Registration Statement (including financial statements and exhibits) as originally filed and of each amendment and supplement thereto, (ii)&nbsp;the word processing, printing and delivery to
KeyBanc of this Agreement and such other documents as may be required in connection with the offering, purchase, sale, issuance or delivery of the Placement Securities, (iii)&nbsp;the preparation, issuance and delivery of the certificates for the
Placement Securities to KeyBanc, including any stock or other transfer taxes and any capital duties, stamp duties or other duties or taxes payable upon the sale, issuance or delivery of the Placement Securities to KeyBanc, (iv)&nbsp;the fees and
disbursements of the counsel, accountants and other advisors to the Company, (v)&nbsp;the qualification or exemption of the Placement Securities under securities laws in accordance with the provisions of Section&nbsp;7(e) hereof, including filing
fees and the reasonable fees and disbursements of counsel for KeyBanc in connection therewith and in connection with the preparation of the Blue Sky Survey and any supplements thereto (not to exceed $10,000), (vi) the printing and delivery to
KeyBanc of copies of any permitted Free Writing Prospectus and the Prospectus and any amendments or supplements thereto and any costs associated with electronic delivery of any of the foregoing by KeyBanc to investors, (vii)&nbsp;the preparation,
printing and delivery to KeyBanc of copies of the Blue Sky Survey and any Canadian &#147;wrapper&#148; and any supplements thereto, (viii)&nbsp;the fees and expenses of the custodian and the transfer agent and registrar for the Securities,
(ix)&nbsp;the filing fees incident to, and the reasonable fees and disbursements of counsel to KeyBanc in connection with, any review by FINRA of the terms of the sale of the Securities, (x)&nbsp;the fees and expenses incurred in connection with the
listing of the Placement Securities on the NYSE, and (xi)&nbsp;if Securities having an aggregate offering price of $25,000,000 or more have not been offered and sold under this Agreement and the Alternative Equity Distribution Agreements by the
eighteen month anniversary of the date of this Agreement (or such earlier date at which the Company terminates this Agreement) (the &#147;<U>Determination Date</U>&#148;), the Company shall reimburse KeyBanc and the Alternative Placement Agents for
all of their reasonable <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">out-of-pocket</FONT></FONT> expenses, including the reasonable fees and disbursements of counsel for KeyBanc and the Alternative Placement Agents incurred by
KeyBanc and the Alternative Placement Agents in connection with the transactions contemplated by this Agreement (the &#147;<U>Expenses</U>&#148;); provided that the Company shall not be obligated to reimburse any such Expenses pursuant to this
Agreement and pursuant to the Alternative Equity Distribution Agreements in excess of $150,000 in the aggregate (and such $150,000 limit shall be reduced pro rata for any portion of such $25,000,000 of Securities actually sold pursuant to this
Agreement and the Alternative Distribution Agreements during such eighteen-month period (i.e., if, for example $6,250,000 of Securities are sold, such limit shall be $112,500; if, for example, $12,500,000 of Securities are sold, such limit shall be
$75,000; and if, for example, $18,750,000 of Securities are sold, such limit shall be $37,500)). The Expenses shall be due and payable by the Company to KeyBanc and the Alternative Placement Agents within five (5)&nbsp;business days of the
Determination Date. The Agents shall be solely responsible for allocating any reimbursement pursuant to this subsection among themselves. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <I>Termination of Agreement</I>. If this Agreement is terminated by KeyBanc in accordance
with the provisions of Section&nbsp;9(m) or Section&nbsp;13(a)(i) hereof, the Company shall reimburse KeyBanc for all of their out of pocket expenses, including the reasonable fees and disbursements of counsel for KeyBanc, unless Securities having
an aggregate offering price of $25,000,000 or more have previously been offered and sold under this Agreement and/or the Alternative Distribution Agreements. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 9. <U>Conditions of KeyBanc</U><U>&#146;</U><U>s Obligations</U>. The obligations of KeyBanc hereunder with respect to a Placement
will be subject to the continuing accuracy and completeness of the representations and warranties of the Company contained in this Agreement and in certificates of any officer of the Company or any subsidiary of the Company delivered pursuant to the
provisions hereof, to the performance by the Company of its covenants and other obligations hereunder, and to the following further conditions: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Effectiveness of Registration Statement</I>. The Registration Statement and any Rule 462(b) Registration Statement shall have become
effective and shall be available for (i)&nbsp;all sales of Placement Securities issued pursuant to all prior Placement Notices (each as amended by a corresponding Acceptance, if applicable) and (ii)&nbsp;the sale of all Placement Securities
contemplated to be issued by any Placement Notice (each as amended by a corresponding Acceptance, if applicable). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <I>No Material
Notices</I>. None of the following events shall have occurred and be continuing: (i)&nbsp;receipt by the Company or any of its subsidiaries of any request for additional information from the Commission or any other federal or state governmental
authority during the period of effectiveness of the Registration Statement, the response to which would require any post-effective amendments or supplements to the Registration Statement or the Prospectus; (ii)&nbsp;the issuance by the Commission or
any other federal or state governmental authority of any stop order suspending the effectiveness of the Registration Statement or the initiation of any proceedings for that purpose; (iii)&nbsp;receipt by the Company of any notification with respect
to the suspension of the qualification or exemption from qualification of any of the Placement Securities for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; or (iv)&nbsp;the occurrence of any event that
makes any material statement made in the Registration Statement or the Prospectus, or any Issuer Free Writing Prospectus, or any material document incorporated or deemed to be incorporated therein by reference untrue in any material respect or that
requires the making of any changes in the Registration Statement, related Prospectus, or any Issuer Free Writing Prospectus, or such documents so that, in the case of the Registration Statement, it will not contain any materially untrue statement of
a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading and, that in the case of the Prospectus and any Issuer Free Writing Prospectus, it will not contain any
materially untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <I>No Material Misstatement or Omission</I>. KeyBanc shall not have advised the Company that the Registration Statement or Prospectus, or
any Issuer Free Writing Prospectus, or any amendment or supplement thereto, contains an untrue statement of fact that in KeyBanc&#146;s reasonable opinion is material, or omits to state a fact that in KeyBanc&#146;s opinion is material and is
required to be stated therein or is necessary to make the statements therein not misleading. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">26 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <I>Material Changes</I>. Except as contemplated in the Prospectus, or disclosed in the
Company&#146;s reports filed with the Commission, there shall not have been any material adverse change in the condition, financial or otherwise, or in the results of operations, business affairs or business prospects of the Company and its
subsidiaries considered as one enterprise, whether or not arising in the ordinary course of business. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) <I>Opinions of Counsel for
Company</I>. KeyBanc shall have received the favorable opinions of Company Counsel, required to be delivered pursuant to Section&nbsp;7(o) on or before the date on which such delivery of such opinions is required pursuant to Section&nbsp;7(o). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) <I>Representation Certificate</I>. KeyBanc shall have received the certificate required to be delivered pursuant to Section&nbsp;7(n) on
or before the date on which delivery of such certificate is required pursuant to Section&nbsp;7(n). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) <I>Accountant&#146;s Comfort
Letter</I>. KeyBanc shall have received the Comfort Letter required to be delivered pursuant Section&nbsp;7(p) on or before the date on which such delivery of such opinion is required pursuant to Section&nbsp;7(p). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) <I>Opinion of Counsel for KeyBanc</I>. On or prior to the date that the first Securities are sold pursuant to the terms of this Agreement,
within two (2)&nbsp;Trading Days of each Representation Date with respect to which the Company is obligated to deliver a certificate in the form attached hereto as <U>Exhibit F</U> for which no waiver is applicable, KeyBanc shall have received the
favorable written opinion or opinions of Goodwin Procter LLP, counsel for KeyBanc, dated such date, with respect to such matters as KeyBanc may reasonably request. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) <I>Approval for Listing</I>. The Placement Securities shall either have been (i)&nbsp;approved for listing on NYSE, subject only to notice
of issuance, or (ii)&nbsp;the Company shall have filed an application for listing of the Placement Securities on NYSE at, or prior to, the issuance of any Placement Notice. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) <I>No Suspension</I>. Trading in the Securities shall not have been suspended on the NYSE. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k) <I>Additional Documents</I>. On each date on which the Company is required to deliver a certificate pursuant to Section&nbsp;7(n), counsel
for KeyBanc shall have been furnished with such documents and opinions as they may reasonably require for the purpose of enabling them to pass upon the issuance and sale of the Securities as herein contemplated, or in order to evidence the accuracy
of any of the representations or warranties, or the fulfillment of any of the conditions, contained in this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(l) <I>Securities
Act Filings Made</I>. All filings with the Commission required by Rule 424 under the Securities Act to have been filed prior to the issuance of any Placement Notice hereunder shall have been made within the applicable time period prescribed for such
filing by Rule 424. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">27 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(m) <I>Termination of Agreement</I>. If any condition specified in this Section&nbsp;9 shall not
have been fulfilled when and as required to be fulfilled, this Agreement may be terminated by KeyBanc by notice to the Company, and such termination shall be without liability of any party to any other party except as provided in Section&nbsp;8
hereof and except that, in the case of any termination of this Agreement, Sections&nbsp;5, 10, 11, 12 and 22 hereof shall survive such termination and remain in full force and effect. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 10. <U>Indemnification</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Indemnification by the Company</I>. The Company agrees to indemnify and hold harmless KeyBanc, its affiliates (as such term is defined
in Rule 501(b) of the Securities Act), and each person, if any, who controls KeyBanc within the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) against any and all loss, liability, claim, damage and expense whatsoever, as incurred, arising out of any untrue statement
or alleged untrue statement of a material fact contained in the Registration Statement (or any amendment thereto), including any information deemed to be a part thereof pursuant to Rule 430B, or the omission or alleged omission therefrom of a
material fact required to be stated therein or necessary to make the statements therein not misleading, or arising out of any untrue statement or alleged untrue statement of a material fact included (A)&nbsp;in any Issuer Free Writing Prospectus or
the Prospectus (or any amendment or supplement thereto) or (B)&nbsp;in any materials or information provided to investors by, or with the approval of, the Company in connection with the marketing of any offering of Securities (&#147;<U>Marketing
Materials&#148;)</U>, including any roadshow or investor presentations made to investors by the Company (whether in person or electronically), or the omission or alleged omission therefrom of a material fact necessary in order to make the statements
therein, in the light of the circumstances under which they were made, not misleading; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) against any and all loss,
liability, claim, damage and expense whatsoever, as incurred, to the extent of the aggregate amount paid in settlement of any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or of any claim
whatsoever based upon any such untrue statement or omission, or any such alleged untrue statement or omission; provided that (subject to Section&nbsp;10(d) below) any such settlement is effected with the written consent of the Company; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) against any and all expense whatsoever, as incurred (including the fees and disbursements of counsel chosen by KeyBanc),
reasonably incurred in investigating, preparing or defending against any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or any claim whatsoever based upon any such untrue statement or
omission, or any such alleged untrue statement or omission, to the extent that any such expense is not paid under (i)&nbsp;or (ii) above, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">28 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>provided</I>, <I>however</I>, that this indemnity agreement shall not apply to any loss, liability, claim,
damage or expense to the extent arising out of any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with information furnished to the Company in writing by KeyBanc expressly for use
therein, it being understood and agreed that the only such information furnished by KeyBanc as of the date hereof consists of the Agent Information. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <I>Indemnification by KeyBanc</I>. KeyBanc agrees to indemnify and hold harmless the Company, its trustees, each of its officers who
signed the Registration Statement, and each person, if any, who controls the Company within the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act against any and all loss, liability, claim, damage and expense
described in the indemnity contained in subsection (a)&nbsp;of this Section&nbsp;10, as incurred, but only with respect to untrue statements or omissions, or alleged untrue statements or omissions, made in the Registration Statement (or any
amendment thereto), any Issuer Free Writing Prospectus or the Prospectus (or any amendment or supplement thereto) in reliance upon and in conformity with information furnished to the Company in writing by KeyBanc expressly for use therein, it being
understood and agreed that the only such information furnished by KeyBanc as of the date hereof consists of the Agent Information. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c)
<I>Actions against Parties; Notification</I>. Each indemnified party shall give notice as promptly as reasonably practicable to each indemnifying party of any action commenced against it in respect of which indemnity may be sought hereunder, but
failure to so notify an indemnifying party shall not relieve such indemnifying party from any liability hereunder to the extent it is not materially prejudiced as a result thereof and in any event shall not relieve it from any liability which it may
have otherwise than on account of this indemnity agreement. Counsel to the indemnified parties shall be selected as follows: counsel to KeyBanc and each person, if any, who controls KeyBanc within the meaning of Section&nbsp;15 of the Securities Act
or Section&nbsp;20 of the Exchange Act shall be selected by KeyBanc; and counsel to the Company, its trustees, each of its officers who signed the Registration Statement and each person, if any, who controls the Company within the meaning of
Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act shall be selected by the Company. An indemnifying party may participate at its own expense in the defense of any such action; <I>provided</I>, <I>however</I>, that counsel
to the indemnifying party shall not (except with the consent of the indemnified party) also be counsel to the indemnified party. In no event shall the indemnifying parties be liable for the fees and expenses of more than one counsel (in addition to
any local counsel) separate from their own counsel for KeyBanc and each person, if any, who controls KeyBanc within the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act, and the fees and expenses of more than
one counsel (in addition to any local counsel) separate from their own counsel for the Company, its trustees, each of its officers who signed the Registration Statement and each person, if any, who controls the Company within the meaning of
Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act, in each case in connection with any one action or separate but similar or related actions in the same jurisdiction arising out of the same general allegations or
circumstances. No indemnifying party shall, without the prior written consent of the indemnified parties, settle or compromise or consent to the entry of any judgment with respect to any litigation, or any investigation or proceeding by any
governmental agency or body, commenced or threatened, or any claim whatsoever in respect of which indemnification or contribution could be sought under this Section&nbsp;10 or Section&nbsp;11 hereof (whether or not the
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">29 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
indemnified parties are actual or potential parties thereto), unless such settlement, compromise or consent (i)&nbsp;includes an unconditional release of each indemnified party from all liability
arising out of such litigation, investigation, proceeding or claim and (ii)&nbsp;does not include a statement as to or an admission of fault, culpability or a failure to act by or on behalf of any indemnified party. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <I>Settlement Without Consent if Failure to Reimburse</I>. If at any time an indemnified party shall have requested an indemnifying party
to reimburse the indemnified party for fees and expenses of counsel, such indemnifying party agrees that it shall be liable for any settlement of the nature contemplated by Section&nbsp;10(a)(ii) effected without its written consent if (i)&nbsp;such
settlement is entered into more than 45 days after receipt by such indemnifying party of the aforesaid request, (ii)&nbsp;such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement
being entered into and (iii)&nbsp;such indemnifying party shall not have reimbursed such indemnified party in accordance with such request prior to the date of such settlement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 11. <U>Contribution</U>. If the indemnification provided for in Section&nbsp;10 hereof is for any reason unavailable to or
insufficient to hold harmless an indemnified party in respect of any losses, liabilities, claims, damages or expenses referred to therein, then each indemnifying party shall contribute to the aggregate amount of such losses, liabilities, claims,
damages and expenses incurred by such indemnified party, as incurred, (i)&nbsp;in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and KeyBanc on the other hand from the offering of the
Securities pursuant to this Agreement or (ii)&nbsp;if the allocation provided by clause (i)&nbsp;is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i)&nbsp;above
but also the relative fault of the Company on the one hand and of KeyBanc on the other hand in connection with the statements or omissions. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The relative benefits received by the Company on the one hand and KeyBanc on the other hand in connection with the offering of the Securities
pursuant to this Agreement shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Securities pursuant to this Agreement (before deducting expenses) received by the Company and the total
commissions received by KeyBanc, in each case as set forth on the cover of the Prospectus, bear to the aggregate public offering price of the Securities as set forth on such cover. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The relative fault of the Company on the one hand and KeyBanc on the other hand shall be determined by reference to, among other things,
whether the untrue or the alleged untrue statement of a material fact or omission or alleged omission to state a material fact relates to information supplied by the Company or by KeyBanc and the parties&#146; relative intent, knowledge, access to
information and opportunity to correct or prevent such statement or omission. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company and KeyBanc agree that it would not be just and
equitable if contribution pursuant to this Section&nbsp;11 were determined by pro rata allocation or by any other method of allocation which does not take account of the equitable considerations referred to above in this Section&nbsp;11. The
aggregate amount of losses, liabilities, claims, damages and expenses incurred </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">30 </P>


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by an indemnified party and referred to above in this Section&nbsp;11 shall be deemed to include any legal or other expenses reasonably incurred by such indemnified party in investigating,
preparing or defending against any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or any claim whatsoever based upon any such untrue or alleged untrue statement or omission or alleged
omission. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Notwithstanding the provisions of this Section&nbsp;11, KeyBanc shall not be required to contribute any amount in excess of the
amount by which the total price at which the Securities underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages which KeyBanc has otherwise been required to pay by reason of any such untrue or
alleged untrue statement or omission or alleged omission. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">No person guilty of fraudulent misrepresentation (within the meaning of
Section&nbsp;11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">For purposes of this Section&nbsp;11, each person, if any, who controls KeyBanc within the meaning of Section&nbsp;15 of the Securities Act or
Section&nbsp;20 of the Exchange Act shall have the same rights to contribution as KeyBanc, and each trustee of the Company, each officer of the Company who signed the Registration Statement, and each person, if any, who controls the Company within
the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act shall have the same rights to contribution as the Company. The Alternative Placement Agents&#146; respective obligations to contribute pursuant to this
Section&nbsp;11 are several in proportion to the number of Securities placed or underwritten by it in the applicable offering. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION
12. <U>Representations, Warranties and Agreements to Survive Delivery</U>. All representations, warranties and agreements contained in this Agreement or in certificates of officers of the Company or any of its subsidiaries submitted pursuant hereto,
shall remain operative and in full force and effect, regardless of any investigation made by or on behalf of KeyBanc or controlling person, or by or on behalf of the Company, and shall survive delivery of the Securities to KeyBanc. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 13. <U>Termination of Agreement</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Termination; General</I>. KeyBanc may terminate this Agreement, by notice to the Company, as hereinafter specified at any time
(i)&nbsp;if there has been, since the time of execution of this Agreement or since the date as of which information is given in the Prospectus, any material adverse change in the condition, financial or otherwise, or in the results of operations,
business affairs or business prospects of the Company and its subsidiaries considered as one enterprise, whether or not arising in the ordinary course of business, or (ii)&nbsp;if there has occurred any material adverse change in the financial
markets in the United States or the international financial markets, any outbreak of hostilities or escalation thereof or other calamity or crisis or any change or development involving a prospective change in national or international political,
financial or economic conditions, in each case the effect of which is such as to make it, in the judgment of KeyBanc, impracticable or inadvisable to market the Securities or to enforce contracts for the sale of the Securities, or (iii)&nbsp;if
trading in the Placement Securities has been suspended or limited </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">31 </P>


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by the Commission or the NYSE, or if trading generally on the NYSE American, the NYSE or the Nasdaq Stock Market has been suspended or limited, or minimum or maximum prices for trading have been
fixed, or maximum ranges for prices have been required, by any of said exchanges or by order of the Commission, the FINRA or any other governmental authority, or a material disruption has occurred in commercial banking or securities settlement or
clearance services in the United States or in Europe, or (iv)&nbsp;if a banking moratorium has been declared by either Federal or New York authorities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <I>Termination by the Company</I>. The Company shall have the right, by giving three (3)&nbsp;days&#146; notice as hereinafter specified
to terminate this Agreement in their sole discretion at any time after the date of this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <I>Termination by KeyBanc</I>.
KeyBanc shall have the right, by giving three (3)&nbsp;days&#146; notice as hereinafter specified to terminate this Agreement in its sole discretion at any time after the date of this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <I>Automatic Termination</I>. Unless earlier terminated pursuant to this Section&nbsp;13, this Agreement shall automatically terminate
upon the issuance and sale of all of the Placement Securities through KeyBanc and the Alternative Placement Agents on the terms and subject to the conditions set forth herein and in the Alternative Equity Distribution Agreements with an aggregate
sale price equal to the amount set forth in Section&nbsp;1 of this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) <I>Continued Force and Effect</I>. This Agreement shall
remain in full force and effect unless terminated pursuant to Sections&nbsp;13(a), (b), (c) or (d)&nbsp;above or otherwise by mutual agreement of the parties. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) <I>Effectiveness of Termination</I>. Any termination of this Agreement shall be effective on the date specified in such notice of
termination; <I>provided</I>, <I>however</I>, that such termination shall not be effective until the close of business on the date of receipt of such notice by KeyBanc or the Company, as the case may be. If such termination shall occur prior to the
Settlement Date for any sale of Placement Securities, such Placement Securities shall settle in accordance with the provisions of this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) <I>Liabilities</I>. If this Agreement is terminated pursuant to this Section&nbsp;13, such termination shall be without liability of any
party to any other party except as provided in Section&nbsp;8 hereof, and except that, in the case of any termination of this Agreement, Section&nbsp;5, Section&nbsp;10, Section&nbsp;11, Section&nbsp;12, and Section&nbsp;22 hereof shall survive such
termination and remain in full force and effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 14. <U>Notices</U>. Except as otherwise provided in this Agreement, all notices
and other communications hereunder shall be in writing and shall be deemed to have been duly given if mailed or transmitted by any standard form of telecommunication. Notices to KeyBanc shall be directed to KeyBanc at KeyBanc Capital Markets Inc.,
127 Public Square, 4th Floor, Cleveland, Ohio 44114, Attention: Equity Syndicate Department, fax no.: (216) <FONT STYLE="white-space:nowrap">689-0845,</FONT> with a copy to Paul Hodermarsky (phodermarksy@key.com) and Mark Koster (mkoster@key.com);
notices to the Company shall be directed to it at 1775 Eye Street NW, Suite 1000, Washington, D.C. 20006, fax no. (212) <FONT STYLE="white-space:nowrap">379-3554,</FONT> Attention of Stephen E. Riffee, Chief Financial Officer, cc: Taryn D. Fielder,
General Counsel. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">32 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 15. <U>Parties</U>. This Agreement shall inure to the benefit of and be binding upon
KeyBanc, the Company and their respective successors. Nothing expressed or mentioned in this Agreement is intended or shall be construed to give any person, firm or corporation, other than KeyBanc, the Company and their respective successors and the
controlling persons and officers and trustees referred to in Sections&nbsp;10 and 11 and their heirs and legal representatives, any legal or equitable right, remedy or claim under or in respect of this Agreement or any provision herein contained.
This Agreement and all conditions and provisions hereof are intended to be for the sole and exclusive benefit of KeyBanc, the Company and their respective successors, and said controlling persons and officers and trustees and their heirs and legal
representatives, and for the benefit of no other person, firm or corporation. No purchaser of Securities from KeyBanc shall be deemed to be a successor by reason merely of such purchase. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 16. <U>Adjustments for Stock Splits</U>. The parties acknowledge and agree that all stock-related numbers contained in this Agreement
shall be adjusted to take into account any stock split, stock dividend or similar event effected with respect to the Securities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION
17. <U>Governing Law; Time and Jurisdiction</U>. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. <B></B>SPECIFIED TIMES OF DAY REFER TO NEW YORK CITY TIME. Any action, suit or proceeding to
enforce any provision of, or based on any matter arising out of or in connection with, this Agreement or the transactions contemplated hereby shall be brought in any federal court located in the Southern District of the State of New York or any New
York state court located in the Borough of Manhattan, and the Company agrees to the exclusive jurisdiction of such courts (and of the appropriate appellate courts therefrom) and each party waives (to the full extent permitted by law) any objection
it may have to the laying of venue of any such suit, action or proceeding in any such court or that any such suit, action or proceeding has been brought in an inconvenient forum. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 18. <U>Effect of Headings</U>. The Section and Exhibit headings herein are for convenience only and shall not affect the construction
hereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 19. <U>Counterparts</U>. This Agreement may be executed in two or more counterparts, each of which shall be deemed an
original, but all of which together shall constitute one and the same instrument. Delivery of an executed Agreement by one party to the other may be made by facsimile or <FONT STYLE="white-space:nowrap">e-mail</FONT> transmission. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">33 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 20. <U>Definitions</U>. As used in this Agreement, the following terms have the
respective meanings set forth below: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Applicable Time</U>&#148; means the time of each sale of any Securities or any securities
pursuant to this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Commission</U>&#148; means the Securities and Exchange Commission. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>EDGAR</U>&#148; means the Commission&#146;s Electronic Data Gathering, Analysis and Retrieval system. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Exchange Act</U>&#148; means the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission
thereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>FINRA</U>&#148; means the Financial Industry Regulatory Authority, Inc. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>GAAP</U>&#148; means generally accepted accounting principles. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Investment Company Act</U>&#148; means the Investment Company Act of 1940, as amended. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Issuer Free Writing Prospectus</U>&#148; means any &#147;issuer free writing prospectus,&#148; as defined in Rule 433, relating to
the Securities that (i)&nbsp;is required to be filed with the Commission by the Company, (ii)&nbsp;is a &#147;road show&#148; that is a &#147;written communication&#148; within the meaning of Rule 433(d)(8)(i) whether or not required to be filed
with the Commission, or (iii)&nbsp;is exempt from filing pursuant to Rule 433(d)(5)(i) because it contains a description of the Securities or of the offering that does not reflect the final terms, and all free writing prospectuses that are listed in
<U>Exhibit G</U> hereto, in each case in the form furnished (electronically or otherwise) to KeyBanc for use in connection with the offering of the Securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>NYSE</U>&#148; means the New York Stock Exchange. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Rule 163</U>,&#148; &#147;<U>Rule 164</U>,&#148; &#147;<U>Rule 172</U>,&#148; &#147;<U>Rule 405</U>,&#148; &#147;<U>Rule
415</U>,&#148; &#147;<U>Rule 424(b)</U>,&#148; &#147;<U>Rule 430B</U>,&#148; &#147;<U>Rule 433</U>&#148; and &#147;<U>Rule 462(b)</U>&#148; refer to such rules under the Securities Act. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Rule 462(b) Registration Statement</U>&#148; means a registration statement filed by the Company pursuant to Rule 462(b) for the
purpose of registering any of the Securities under the Securities Act, including the documents incorporated by reference therein and the Rule 430A Information. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Sarbanes-Oxley Act</U>&#148; means the Sarbanes-Oxley Act of 2002 and the rules and regulations promulgated thereunder or
implementing the provisions thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Securities Act</U>&#148; means the Securities Act of 1933, as amended, and the rules and
regulations of the Commission thereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">All references in this Agreement to financial statements and schedules and other information
that is &#147;contained,&#148; &#147;included&#148; or &#147;stated&#148; in the Registration Statement or the Prospectus (and all other references of like import) shall be deemed to mean and include all such financial statements and schedules and
other information that is incorporated by reference in the Registration Statement or the Prospectus, as the case may be. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">34 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">All references in this Agreement to the Registration Statement, any Rule 462(b) Registration
Statement, the Prospectus or any amendment or supplement to any of the foregoing shall be deemed to include the copy filed with the Commission pursuant to EDGAR; all references in this Agreement to any Issuer Free Writing Prospectus (other than any
Issuer Free Writing Prospectuses that, pursuant to Rule 433, are not required to be filed with the Commission) shall be deemed to include the copy thereof filed with the Commission pursuant to EDGAR; and all references in this Agreement to
&#147;supplements&#148; to the Prospectus shall include, without limitation, any supplements, &#147;wrappers&#148; or similar materials prepared in connection with any offering, sale or private placement of any Placement Securities by KeyBanc
outside of the United States. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 21. <U>Permitted Free Writing Prospectuses</U>. The Company represents, warrants and agrees that,
unless it obtains the prior consent of KeyBanc, and KeyBanc represents, warrants and agrees that, unless it obtains the prior consent of the Company, it has not made and will not make any offer relating to the Securities that would constitute an
Issuer Free Writing Prospectus, or that would otherwise constitute a &#147;free writing prospectus,&#148; as defined in Rule 405, required to be filed with the Commission. Any such free writing prospectus consented to by KeyBanc or by the Company,
as the case may be, is hereinafter referred to as a &#147;Permitted Free Writing Prospectus.&#148; The Company represents and warrants that it has treated and agrees that it will treat each Permitted Free Writing Prospectus as an &#147;issuer free
writing prospectus,&#148; as defined in Rule 433, and has complied and will comply with the requirements of Rule 433 applicable to any Permitted Free Writing Prospectus, including timely filing with the Commission where required, legending and
record keeping. For the purposes of clarity, the parties hereto agree that all free writing prospectuses, if any, listed in <U>Exhibit G</U> hereto are Permitted Free Writing Prospectuses. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 22. <U>Absence of Fiduciary Relationship</U>. The Company acknowledges and agrees that: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) KeyBanc is acting solely as agent and/or principal in connection with the public offering of the Securities and in connection with each
transaction contemplated by this Agreement and the process leading to such transactions, and no fiduciary or advisory relationship between the Company or any of its respective affiliates, stockholders (or other equity holders), creditors or
employees or any other party, on the one hand, and KeyBanc, on the other hand, has been or will be created in respect of any of the transactions contemplated by this Agreement, irrespective of whether or not KeyBanc has advised or is advising the
Company on other matters, and KeyBanc has no obligation to the Company with respect to the transactions contemplated by this Agreement except the obligations expressly set forth in this Agreement; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) any public offering price of the Securities set forth in this Agreement was not established by KeyBanc; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">35 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) it is capable of evaluating and understanding, and understands and accepts, the terms, risks
and conditions of the transactions contemplated by this Agreement; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) KeyBanc has not provided any legal, accounting, regulatory or tax
advice with respect to the transactions contemplated by this Agreement and it has consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) it is aware that KeyBanc and its respective affiliates are engaged in a broad range of transactions which may involve interests that
differ from those of the Company and KeyBanc has no obligation to disclose such interests and transactions to the Company by virtue of any fiduciary, advisory or agency relationship or otherwise; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) it waives, to the fullest extent permitted by law, any claims it may have against KeyBanc for breach of fiduciary duty or alleged breach
of fiduciary duty and agrees that KeyBanc shall not have any liability (whether direct or indirect, in contract, tort or otherwise) to it in respect of such a fiduciary duty claim or to any person asserting a fiduciary duty claim on its behalf or in
right of it or the Company, employees or creditors of Company. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">36 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If the foregoing is in accordance with your understanding of our agreement, please sign and
return to the Company a counterpart hereof, whereupon this instrument, along with all counterparts, will become a binding agreement between KeyBanc and the Company in accordance with its terms. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Very truly yours,</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">WASHINGTON REAL ESTATE INVESTMENT TRUST</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Stephen E. Riffee</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Name: Stephen E. Riffee</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Title: Executive Vice President and</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chief Financial Officer</TD></TR>
</TABLE></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="5%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="93%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">CONFIRMED AND ACCEPTED, as of the</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">date first above written:</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">KEYBANC&nbsp;CAPITAL MARKETS INC.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Mark J. Koster</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; text-indent:3.30em; font-size:10pt; font-family:Times New Roman">Authorized Signatory</P></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">37 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT A </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>FORM OF PLACEMENT NOTICE </U></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="5%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="93%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">From:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">[&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;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;]</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Cc:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">[`&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;&nbsp;&nbsp;
&nbsp;&nbsp;]</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">To:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">[&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;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;]</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Subject: Equity Distribution&#151;Placement Notice </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Gentlemen: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the terms and subject
to the conditions contained in the Equity Distribution Agreement between Washington Real Estate Investment Trust (the &#147;<U>Company</U>&#148;) and KeyBanc&nbsp;Capital Markets Inc. (&#147;<U>KeyBanc</U>&#148;) dated May&nbsp;4, 2018 (the
&#147;<U>Agreement</U>&#148;), I hereby request on behalf of the Company that KeyBanc sell up to [&#149;] [or $[&#149;] in aggregate offering price of] Common Shares of Beneficial Interest, par value $0.01 per share (the
&#147;<U>Securities</U>&#148;), at a minimum market price of $[&#149;] per share. The Company shall pay KeyBanc compensation equal to [&#149;]% of the gross proceeds from the sale of the Securities set forth in this Placement Notice. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>[ADDITIONAL SALES PARAMETERS MAY BE ADDED, SUCH AS THE TIME PERIOD IN WHICH SALES ARE REQUESTED TO BE MADE, SPECIFIC DATES THE SHARES MAY NOT BE SOLD ON,
THE MANNER IN WHICH SALES ARE TO BE MADE BY KEYBANC, AND/OR THE CAPACITY IN WHICH KEYBANC MAY ACT IN SELLING SHARES (AS PRINCIPAL, AGENT, OR BOTH)] </B></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A-1 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT B </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>AUTHORIZED INDIVIDUALS FOR PLACEMENT NOTICES AND ACCEPTANCES </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>KeyBanc&nbsp;Capital Markets Inc. </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Paul Hodermarsky </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email: <U>phodermarsky@key.com</U> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">David Gruber </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email: <U>dgruber@key.com</U> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Michael Jones </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email: <U>michael.c.jones@key.com</U> </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Washington Real
Estate Investment Trust </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Stephen E. Riffee </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email:
<U>sriffee@washreit.com</U> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Paul T. McDermott </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email:
<U>pmcdermott@washreit.com</U> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Taryn D. Fielder </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email:
<U>tfielder@washreit.com</U> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">B-1 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT C </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>COMPENSATION </U></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">KeyBanc
shall be paid compensation equal to up to 2.0% of the gross proceeds from the sales of Securities pursuant to the terms of this Agreement. The actual compensation paid to KeyBanc shall be set forth in the applicable Placement Notice. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">C-1 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT D </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>SIGNIFICANT SUBSIDIARIES OF THE COMPANY </U></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="35%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="30%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="30%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:20.00pt; display:inline; font-size:8pt; font-family:Times New Roman; "><B>Name</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman"><B>Jurisdiction&nbsp;of</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1.00pt solid #000000; width:49.45pt; display:inline; font-size:8pt; font-family:Times New Roman; "><B>Organization</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:49.30pt; display:inline; font-size:8pt; font-family:Times New Roman; "><B>Type of Entity</B></P></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">WashREIT&nbsp;OP&nbsp;LLC</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Delaware</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Limited Liability Company</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">WashREIT&nbsp;OP&nbsp;Sub&nbsp;DC&nbsp;LLC</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Delaware</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Limited Liability Company</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">D-1 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT E </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>FORM OF OPINIONS OF COMPANY COUNSEL </U></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">E-1 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT F </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>OFFICER CERTIFICATE </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The
undersigned [&#149;], the duly qualified and elected [&#149;] of Washington Real Estate Investment Trust (&#147;<U>Company</U>&#148;), a Maryland real estate investment trust, does hereby certify in such capacity and on behalf of the Company,
pursuant to Section&nbsp;7(n) of each of the Equity Distribution Agreements dated May&nbsp;4, 2018 (collectively, the &#147;<U>Agreements</U>&#148;) between the Company and each of Wells Fargo Securities, LLC, BNY Mellon Capital Markets, LLC,
Capital One Securities, Inc., Citigroup Global Markets Inc., Goldman Sachs&nbsp;&amp; Co. LLC, J.P. Morgan Securities LLC, KeyBanc Capital Markets Inc. and SunTrust Robinson Humphrey, Inc. (collectively, the &#147;<U>Agents</U>&#148;) that to the
knowledge of the undersigned: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The representations and warranties of the Company in Section&nbsp;5 of each of the Agreements (A)&nbsp;to
the extent such representations and warranties are subject to qualifications and exceptions contained therein relating to materiality or Material Adverse Effect, are true and correct on and as of the date hereof with the same force and effect as if
expressly made on and as of the date hereof, except for those representations and warranties that speak solely as of a specific date and which were true and correct as of such date, and (B)&nbsp;to the extent such representations and warranties are
not subject to any qualifications or exceptions, are true and correct in all material respects as of the date hereof as if made on and as of the date hereof with the same force and effect as if expressly made on and as of the date hereof except for
those representations and warranties that speak solely as of a specific date and which were true and correct as of such date; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The
Company has complied in all material respects with all agreements and satisfied all conditions on their part to be performed or satisfied pursuant to each of the Agreements at or prior to the date hereof (other than those conditions waived by the
Agents). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-1 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT G </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>ISSUER FREE WRITING PROSPECTUSES </U></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">None </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">G-1 </P>

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<DOCUMENT>
<TYPE>EX-1.8
<SEQUENCE>9
<FILENAME>d582540dex18.htm
<DESCRIPTION>EX-1.8
<TEXT>
<HTML><HEAD>
<TITLE>EX-1.8</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 1.8 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Washington Real Estate Investment Trust </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">$250,000,000 of Common Shares of Beneficial Interest </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EQUITY DISTRIBUTION AGREEMENT </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dated:
May&nbsp;4, 2018 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TABLE OF CONTENTS </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="96%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Page</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 1. Description of Securities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2. Placements</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 3. Sale of Placement Securities by SunTrust</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4. Suspension of Sales</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 5. Representations and Warranties</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6. Sale and Delivery to SunTrust; Settlement</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7. Covenants of the Company</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 8. Payment of Expenses</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 9. Conditions of SunTrust&#146;s Obligations</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 10. Indemnification</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">28</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11. Contribution</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">31</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 12. Representations, Warranties and Agreements to Survive Delivery</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">32</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 13. Termination of Agreement</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">32</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 14. Notices</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 15. Parties</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 16. Adjustments for Stock Splits</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 17. Governing Law; Time and Jurisdiction</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 18. Effect of Headings</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 19. Counterparts</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 20. Definitions</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 21. Permitted Free Writing Prospectuses</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 22. Absence of Fiduciary Relationship</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">36</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">i </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXHIBITS </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Exhibit&nbsp;A</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">&#150;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Form of Placement Notice</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Exhibit&nbsp;B</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">&nbsp;&nbsp;&nbsp;&nbsp;&#150;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Authorized Individuals for Placement Notices and Acceptances</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Exhibit C</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">&#150;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Compensation</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Exhibit D</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">&#150;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Significant Subsidiaries of the Company</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Exhibit E</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">&#150;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Form of Opinions of Company Counsel</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Exhibit F</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">&#150;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Officer Certificate</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>Exhibit G</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">&#150;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Issuer Free Writing Prospectus</TD></TR>
</TABLE> <P STYLE="font-size:18pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ii </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Washington Real Estate Investment Trust </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">$250,000,000 of Common Shares of Beneficial Interest </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>EQUITY DISTRIBUTION AGREEMENT </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">May&nbsp;4, 2018 </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SunTrust Robinson Humphrey, Inc.
</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">3333 Peachtree Road NE, 11th Floor </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Atlanta, Georgia 30326
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ladies and Gentlemen: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Washington Real
Estate Investment Trust, a Maryland real estate investment trust (the &#147;<U>Company</U>&#148;), confirms its agreement (this &#147;<U>Agreement</U>&#148;) with SunTrust Robinson Humphrey, Inc. (&#147;<U>SunTrust</U>&#148;), as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 1. <U>Description of Securities</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company agrees that, from time to time during the term of this Agreement, on the terms and subject to the conditions set forth herein, it
may issue and sell through SunTrust, acting as agent and/or principal, Common Shares of Beneficial Interest, par value $0.01 per share (the &#147;<U>Common Stock</U>&#148;), having an aggregate sale price of up to $250,000,000 (such Common Shares,
the &#147;Securities&#148;, and such maximum amount, the &#147;<U>Maximum Amount</U>&#148;). Notwithstanding anything to the contrary contained herein, the parties hereto agree that compliance with the limitations set forth in this Section&nbsp;1
regarding the aggregate sale price of the Securities issued and sold under this Agreement shall be the sole responsibility of the Company, and SunTrust shall have no obligation in connection with such compliance. The issuance and sale of the
Securities through SunTrust will be effected pursuant to the Registration Statement (as defined below) filed by the Company with the Securities and Exchange Commission (the &#147;<U>Commission</U>&#148;), which became effective upon filing, although
nothing in this Agreement shall be construed as requiring the Company to use the Registration Statement to issue the Securities. The Company agrees that whenever it determines to sell Securities directly to SunTrust as principal it will enter into a
separate written agreement containing the terms and conditions of such sale. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company has also entered into separate equity
distribution agreements with respect to the Securities (each, an &#147;<U>Alternative Equity Distribution Agreement</U>&#148; and collectively, the &#147;<U>Alternative Equity Distribution Agreements</U>&#148;), each dated as of the date hereof,
with Wells Fargo Securities, LLC, BNY Mellon Capital Markets, LLC, Capital One Securities, Inc., Citigroup Global Markets Inc., Goldman Sachs&nbsp;&amp; Co. LLC, J.P. Morgan&nbsp;Securities LLC and KeyBanc&nbsp;Capital Markets Inc. (each, an
&#147;<U>Alternative Placement Agent</U>&#148; and collectively, the &#147;<U>Alternative Placement Agents</U>&#148;, and, together with SunTrust, the &#147;<U>Agents</U>&#148;). The aggregate offering price of the Securities that may be sold
pursuant to this Agreement and the Alternative Equity Distribution Agreements collectively shall not exceed the Maximum Amount. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company has filed, in accordance with the provisions of the Securities Act, with the
Commission a registration statement on Form <FONT STYLE="white-space:nowrap">S-3</FONT> (File <FONT STYLE="white-space:nowrap">No.&nbsp;333-224135),</FONT> including a base prospectus, relating to certain securities, including the Securities to be
issued from time to time by the Company, and which incorporates by reference documents that the Company has filed or will file in accordance with the provisions of the Securities Exchange Act of 1934, as amended, and the rules and regulations
thereunder (collectively, the &#147;<U>Exchange Act</U>&#148;). The Company has prepared a prospectus supplement specifically relating to the Securities (the &#147;<U>Prospectus Supplement</U>&#148;) to the base prospectus included as part of such
registration statement. The Company will furnish to SunTrust, for use by SunTrust, copies of the prospectus included as part of such registration statement, as supplemented by the Prospectus Supplement, relating to the Securities. The
&#147;<U>Registration Statement</U>&#148;, as of any time, means such registration statement as amended by any post-effective amendments thereto at such time, including the exhibits and any schedules thereto at such time, the documents incorporated
or deemed to be incorporated by reference therein at such time pursuant to Item 12 of Form <FONT STYLE="white-space:nowrap">S-3</FONT> under the Securities Act and the documents and information otherwise deemed to be a part thereof as of such time
pursuant to Rule 430B of the Securities Act (&#147;<U>Rule 430B</U>&#148;); <I>provided</I>, <I>however</I>, that the &#147;Registration Statement&#148; without reference to a time means such registration statement as amended by any post-effective
amendments thereto as of the time of the first contract of sale for the Securities, which time shall be considered the &#147;new effective date&#148; of the Registration Statement with respect to the Securities within the meaning of paragraph (f)(2)
of Rule 430B, including the exhibits and schedules thereto at such time, the documents and information incorporated or deemed to be incorporated by reference therein at such time pursuant to Item 12 of Form
<FONT STYLE="white-space:nowrap">S-3</FONT> under the Securities Act and the documents otherwise deemed to be a part thereof as of such time pursuant to Rule 430B. The base prospectus, including all documents incorporated therein by reference,
included in the Registration Statement, as it may be supplemented by the Prospectus Supplement, in the form in which such prospectus and/or Prospectus Supplement have most recently been filed by the Company with the Commission pursuant to Rule
424(b) under the Securities Act is herein called the &#147;<U>Prospectus</U>.&#148; Any reference herein to the Registration Statement, the Prospectus or any amendment or supplement thereto shall be deemed to refer to and include the documents
incorporated by reference therein, and any reference herein to the terms &#147;amend,&#148; &#147;amendment&#148; or &#147;supplement&#148; with respect to the Registration Statement or the Prospectus shall be deemed to refer to and include the
filing after the execution hereof of any document with the Commission deemed to be incorporated by reference therein. For purposes of this Agreement, all references to the Registration Statement, the Prospectus or to any amendment or supplement
thereto shall be deemed to include any copy filed with the Commission pursuant to EDGAR. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 2. <U>Placements</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each time that the Company wishes to issue and sell the Securities hereunder (each, a &#147;<U>Placement</U>&#148;), it will notify SunTrust
by email notice (or other method mutually agreed to in writing by the parties) containing the parameters in accordance with which it desires the Securities to be sold, which shall at a minimum include the number or dollar amount of Securities to be
issued (the &#147;<U>Placement Securities</U>&#148;), the time period during which sales are requested to be made, any limitation on the number or dollar amount of Securities that may be sold in any one day and any minimum price below which sales
may not be made (a &#147;<U>Placement </U> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
<U>Notice</U>&#148;), a form of which containing such minimum sales parameters necessary is attached hereto as <U>Exhibit A</U>. The Placement Notice shall originate from any of the individuals
from the Company set forth on <U>Exhibit B</U> (with a copy to each of the other individuals from the Company listed on such schedule), and shall be addressed to each of the individuals from SunTrust set forth on <U>Exhibit B</U>, as such <U>Exhibit
B</U> may be amended from time to time. If SunTrust wishes to accept such proposed terms included in the Placement Notice (which it may decline to do so for any reason in its sole discretion) or, following discussion with the Company, wishes to
accept amended terms, SunTrust will, prior to 4:30 p.m. (New York City time) on the Business Day following the Business Day on which such Placement Notice is delivered to SunTrust, issue to the Company a notice by email (or other method mutually
agreed to in writing by the parties) addressed to all of the individuals from the Company and SunTrust set forth on <U>Exhibit B</U>) setting forth the terms that SunTrust is willing to accept. Where the terms provided in the Placement Notice are
amended as provided for in the immediately preceding sentence, such terms will not be binding on the Company or SunTrust until the Company delivers to SunTrust an acceptance by email (or other method mutually agreed to in writing by the parties) of
all of the terms of such Placement Notice, as amended (the &#147;<U>Acceptance</U>&#148;), which email shall be addressed to all of the individuals from the Company and SunTrust set forth on <U>Exhibit B</U>. The Placement Notice (as amended by the
corresponding Acceptance, if applicable) shall be effective upon receipt by the Company of SunTrust&#146;s acceptance of the terms of the Placement Notice or upon receipt by SunTrust of the Company&#146;s Acceptance, as the case may be, unless and
until (i)&nbsp;the entire amount of the Placement Securities has been sold, (ii)&nbsp;in accordance with the notice requirements set forth in the second sentence of this paragraph, the Company terminates the Placement Notice, (iii)&nbsp;the Company
issues a subsequent Placement Notice with parameters superseding those on the earlier dated Placement Notice, (iv)&nbsp;this Agreement has been terminated under the provisions of Section&nbsp;13 or (v)&nbsp;either party shall have suspended the sale
of the Placement Securities in accordance with Section&nbsp;4 below. The amount of any discount, commission or other compensation to be paid by the Company to SunTrust in connection with the sale of the Placement Securities shall be calculated in
accordance with the terms set forth in <U>Exhibit C</U>. It is expressly acknowledged and agreed that neither the Company nor SunTrust will have any obligation whatsoever with respect to a Placement or any Placement Securities unless and until the
Company delivers a Placement Notice to SunTrust and either (i)&nbsp;SunTrust accepts the terms of such Placement Notice or (ii)&nbsp;where the terms of such Placement Notice are amended, the Company accepts such amended terms by means of an
Acceptance pursuant to the terms set forth above, and then only upon the terms specified in the Placement Notice (as amended by the corresponding Acceptance, if applicable) and herein. In the event of a conflict between the terms of this Agreement
and the terms of a Placement Notice (as amended by the corresponding Acceptance, if applicable), the terms of the Placement Notice (as amended by the corresponding Acceptance, if applicable) will control. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company agrees that any offer to sell or any sales of Securities pursuant to this Agreement or any Alternative Equity Distribution
Agreement shall only be effected by or through only one of SunTrust or an Alternative Placement Agent on any single given day, and the Company shall in no event request that SunTrust and an Alternative Placement Agent sell Securities on the same
day; <I>provided, however, </I>that the foregoing limitation shall only apply with respect to an agency transaction and shall not apply to any&nbsp;principal transaction effected at any time by any Agent and, provided further, such limitation shall
not apply on any day during which no sales are made pursuant to this Agreement. Notwithstanding the foregoing or anything </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
to the contrary contained herein, the Company shall be permitted, at any time and from time to time, to engage one or more additional agents and/or principals, subject to such additional agents
and/or principals executing the expense reimbursement agreement then in effect among the Agents relating only to the sale of the Securities and the transactions contemplated by this Agreement and the Alternative Distribution Agreements, that, once
engaged, may offer to sell, solicit an offer to buy or sell the Securities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 3. <U>Sale of Placement Securities by SunTrust</U>.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Subject to the provisions of Section&nbsp;6(a), SunTrust, for the period specified in the Placement Notice, will use its commercially
reasonable efforts consistent with its normal trading and sales practices to sell the Placement Securities up to the amount specified, and otherwise in accordance with the terms of such Placement Notice (as amended by the corresponding Acceptance,
if applicable). SunTrust will provide written confirmation to the Company no later than the opening of the Trading Day (as defined below) immediately following the Trading Day on which it has made sales of Placement Securities hereunder setting
forth the number of Placement Securities sold on such day, the compensation payable by the Company to SunTrust pursuant to Section&nbsp;2 with respect to such sales, and the Net Proceeds (as defined below) payable to the Company, with an itemization
of the deductions made by SunTrust (as set forth in Section&nbsp;6(b)) from the gross proceeds that it receives from such sales. Subject to the terms of the Placement Notice (as amended by the corresponding Acceptance, if applicable), SunTrust may
sell Placement Securities by any method permitted by law deemed to be an &#147;at the market&#148; offering as defined in Rule 415 under the Securities Act, including without limitation sales made directly on the NYSE, on any other existing trading
market for the Common Stock or to or through a market maker. Subject to the terms of the Placement Notice (as amended by the corresponding Acceptance, if applicable), SunTrust may also sell Placement Securities by any other method permitted by law,
including but not limited to in privately negotiated transactions, which may include block trades. The Company acknowledges and agrees that (i)&nbsp;there can be no assurance that SunTrust will be successful in selling Placement Securities, and
(ii)&nbsp;SunTrust will incur no liability or obligation to the Company or any other person or entity if it does not sell Placement Securities for any reason other than a failure by SunTrust to use its commercially reasonable efforts consistent with
its normal trading and sales practices to sell such Placement Securities as required under this Section&nbsp;3. For the purposes hereof, &#147;<U>Trading Day</U>&#148; means any day on which shares of Common Stock are purchased and sold on the
principal market on which the Common Stock is listed or quoted. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 4. <U>Suspension of Sales</U>. The Company or SunTrust may, upon
notice to the other party in writing (including by email correspondence to each of the individuals of the other party set forth on <U>Exhibit B</U>, if receipt of such correspondence is actually acknowledged by any of the individuals to whom the
notice is sent, other than via auto-reply) or by telephone (confirmed immediately by verifiable facsimile transmission or email correspondence to each of the individuals of the other party set forth on <U>Exhibit B</U>), suspend any sale of
Placement Securities; <I>provided</I>, <I>however</I>, that such suspension shall not affect or impair either party&#146;s obligations with respect to any Placement Securities sold hereunder prior to the receipt of such notice or any Placement
Securities sold under the Alternative Equity Distribution Agreements. Each of the parties agrees that no such notice under this Section&nbsp;4 shall be effective against the other unless it is made to one of the individuals named on <U>Exhibit B</U>
hereto, as such <U>Exhibit B</U> may be amended from time to time. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 5. <U>Representations and Warranties</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Representations and Warranties by the Company</I>. The Company represents and warrants to SunTrust as of the date hereof and as of each
Representation Date (as defined below) on which a certificate is required to be delivered pursuant to Section&nbsp;7(n) of this Agreement, as of each Applicable Time and as of each Settlement Date (as defined below), and agrees with SunTrust, as
follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) <U>Compliance with Registration Requirements</U>. The Securities have been duly registered under the
Securities Act pursuant to the Registration Statement. The Registration Statement has become effective under the Securities Act, or, with respect to any registration statement to be filed to register the offer and sale of the Securities pursuant to
Rule 462(b) under the Securities Act (a &#147;<U>Rule 462(b) Registration Statement</U>&#148;), will be filed with the Commission and become effective under the Securities Act no later than 10:00 p.m. (New York City time), on the date of
determination of the public offering price for the Securities, and no stop order preventing or suspending the use of any base prospectus, the Prospectus Supplement, the Prospectus or any Permitted Free Writing Prospectus (as defined below), or the
effectiveness of the Registration Statement or any Rule 462(b) Registration Statement and no proceedings for such purpose have been instituted or are pending or, to the knowledge of the Company, are contemplated by the Commission, and any request on
the part of the Commission for additional information has been complied with. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">At the respective times each of the
Registration Statement, any Rule 462(b) Registration Statement and any post-effective amendments thereto became or becomes effective and as of the date hereof, the Registration Statement, any Rule 462(b) Registration Statement and any amendments and
supplements thereto complied and will comply in all material respects with the requirements of the Securities Act. The conditions for the use of Form <FONT STYLE="white-space:nowrap">S-3,</FONT> as set forth in the General Instructions thereto, and
the Registration Statement meets, and the offering and sale of the Securities as contemplated hereby complies with, the requirements of Rule 415 under the Securities Act (including, without limitation, Rule 415(a)(5)). The Registration Statement, as
of the date hereof and each effective date with respect thereto, did not and will not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not
misleading. Neither the Prospectus nor any amendments or supplements thereto, as of their respective dates, and at each Applicable Time and Settlement Date, as the case may be, included or will include an untrue statement of a material fact or
omitted or will omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">The representations and warranties set forth in the immediately preceding
paragraph shall not apply to statements in or omissions from the Registration Statement or the Prospectus, as amended or supplemented, made in reliance upon and in conformity with information furnished to the Company in writing by SunTrust expressly
for use therein. For purposes of this Agreement, the only information so furnished as of the date hereof shall be SunTrust&#146;s name (the &#147;<U>Agent Information</U>&#148;). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">The copies of the Registration Statement and any Rule 462(b) Registration Statement and any amendments thereto, any other
preliminary prospectus, each Issuer Free Writing Prospectus that is required to be filed with the Commission pursuant to Rule 433 and the Prospectus and any amendments or supplements thereto delivered and to be delivered to SunTrust (electronically
or otherwise) in connection with the offering of the Securities were and will be identical to the electronically transmitted copies thereof filed with the Commission pursuant to EDGAR, except to the extent permitted by Regulation <FONT
STYLE="white-space:nowrap">S-T.</FONT> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each Issuer Free Writing Prospectus relating to the Securities, as of its issue
date and as of each Applicable Time and Settlement Date, did not, does not and will not include any information that conflicted, conflicts or will conflict with the information contained in the Registration Statement or the Prospectus, including any
incorporated document deemed to be a part thereof that has not been superseded or modified, or included, includes or will include an untrue statement of a material fact or omitted, omits or will omit to state a material fact necessary in order to
make the statements therein, in light of the circumstances, prevailing at that subsequent time, not misleading. The foregoing sentence does not apply to statements in or omissions from any Issuer Free Writing Prospectus based upon and in conformity
with written information furnished to the Company by SunTrust specifically for use therein. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">At the time of the initial
filing of the Registration Statement, at the time of the most recent amendment thereto for the purposes of complying with Section&nbsp;10(a)(3) of the Securities Act (whether such amendment was by post-effective amendment, incorporated report filed
pursuant to Section&nbsp;13 or 15(d) of the Exchange Act or form of prospectus), at the time the Company or another offering participant made a bona fide offer (within the meaning, for this paragraph only, of Rule 164(h)(2) of the Securities Act),
the Company was and is a &#147;well-known seasoned issuer&#148; as defined in Rule 405 of the Securities Act, including not having been and not being an &#147;ineligible issuer,&#148; as defined in Rule 405 of the Securities Act; and, without
limitation to the foregoing, the Company has at all relevant times met, meets and will at all relevant times meet the requirements of Rule 164 for the use of a free writing prospectus (as defined in Rule 405) in connection with the offering
contemplated hereby. The Company agrees to pay the fees required by the Commission relating to the Securities within the time required by Rule 456(b)(1) without regard to the proviso therein and otherwise in accordance with Rules 456(b) and 457(r).
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each document incorporated by reference in the Registration Statement or the
Prospectus heretofore filed, when it was filed (or, if any amendment with respect to any such document was filed, when such amendment was filed), conformed in all material respects with the requirements of the Exchange Act, and any further documents
so filed and incorporated after the date of this Agreement will, when they are filed, conform in all material respects with the requirements of the Exchange Act; no such document when it was filed (or, if an amendment with respect to any such
document was filed, when such amendment was filed), contained an untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make the statements therein not misleading; and no such
document, when it is filed, will contain an untrue statement of a material fact or will omit to state a material fact required to be stated therein or necessary in order to make the statements therein not misleading. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) <U>Prior Written Communications</U>. Any offer that is a written communication relating to the Securities made prior to the
initial filing of the Registration Statement by the Company or any person acting on its behalf (within the meaning, for this paragraph only, of Rule 163(c) of the Securities Act) has been filed with the Commission in accordance with the exemption
provided by Rule 163 of the Securities Act and otherwise complied with the requirements of Rule 163 of the Securities Act, including without limitation the legending requirement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) <U>Good Standing of Company</U>. The Company has been duly organized and is validly existing as a real estate investment
trust of unlimited duration with transferable shares of beneficial interest in good standing under the laws of the State of Maryland, with full power and authority to own, lease and operate its properties and to conduct its business as described in
the Registration Statement and the Prospectus and to enter into this Agreement and to consummate the transactions contemplated by the Registration Statement and the Prospectus. The Company is duly qualified to transact business and is in good
standing in each jurisdiction in which such qualification is required, whether by reason of the ownership or leasing of property or the conduct of business, except where the failure to so qualify or be in good standing would not result in a material
adverse change in the condition, financial or otherwise, or the results of operations, business, properties or prospects of the Company and its subsidiaries considered as one enterprise, whether or not arising in the ordinary course of business (a
&#147;<U>Material Adverse Effect</U>&#148;). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) <U>Subsidiaries</U>. Each &#147;significant subsidiary&#148; of the
Company (as such term is defined in Rule <FONT STYLE="white-space:nowrap">1-02</FONT> of Regulation <FONT STYLE="white-space:nowrap">S-X</FONT> promulgated under the Securities Act) (each, a &#147;Subsidiary&#148; and, collectively, the
&#147;Subsidiaries&#148;) (which term includes corporations, limited and general partnerships, limited liability companies, joint ventures and other entities, and includes direct and indirect subsidiaries), has been duly organized and is validly
existing as a corporation, limited liability company or partnership, as the case may be, in good standing under the laws of the jurisdiction of its incorporation or organization, has power and authority to own, lease and operate its properties and
to conduct its business as described in the Registration Statement and the Prospectus and is duly qualified to transact business and is in good standing in each jurisdiction in which such qualification is required, whether by reason of the ownership
or leasing of property or the conduct of business, except where the failure to so qualify or be in good standing would not result in a Material Adverse Effect. Except as otherwise stated in the Registration Statement or the Prospectus, all of the
issued and outstanding capital stock or other ownership interests of each subsidiary have been duly authorized and validly </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>


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issued, are fully paid and <FONT STYLE="white-space:nowrap">non-assessable</FONT> and are owned by the Company, directly or through subsidiaries, free and clear of any security interest,
mortgage, pledge, lien, encumbrance, claim or equity; and none of the outstanding shares of capital stock of any subsidiary was issued in violation of preemptive or other similar rights of any security holder of such subsidiary. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(5) <U>Capitalization</U>. The Securities and all other outstanding Common Stock have been duly authorized; the authorized
equity capitalization of the Company is as set forth in the Prospectus; all outstanding Common Stock is, and, when the Securities have been delivered and paid for in accordance with this Agreement or any Alternative Equity Distribution Agreement,
such Securities will have been, validly issued, fully paid and nonassessable, will be consistent with the information in the Prospectus and will conform to the description thereof contained in the Prospectus; the shareholders of the Company have no
preemptive rights with respect to the Securities; and none of the outstanding Common Stock has been issued in violation of any preemptive or similar rights of any security holder. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(6) <U>Absence of Further Requirements</U>. No consent, approval, authorization, or order of, or filing or registration with,
any person (including any governmental agency or body or any court) is required for the consummation by the Company of the transactions contemplated by this Agreement in connection with the offering, issuance and sale of the Securities by the
Company, except such as have been obtained under the Securities Act, and such as may be required under state securities laws. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(7) <U>Title to Property</U>. The Company and its subsidiaries have good and marketable title to, or valid and enforceable
leasehold estates in, all items of real and personal property referred to in the Registration Statement and the Prospectus as owned or leased by them, in each case free and clear of all liens, encumbrances, claims, security interests and defects,
other than those disclosed in the Registration Statement or the Prospectus or that would not, individually or in the aggregate, have a Material Adverse Effect. The Company has no reasonable basis to believe that the lessee under any lease calling
for annual lease payments in excess of one percent of the Company&#146;s annual revenue for its last fiscal year is not financially capable of performing its obligations thereunder (excluding leases for which rent payments due for the remainder of
such lease are less than such amount). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(8) <U>Absence of Defaults and Conflicts Resulting from Transaction</U>. The
execution, delivery and performance of this Agreement, and the issuance and sale of the Securities and compliance with the terms and provisions thereof will not result in a breach or violation of any of the terms and provisions of, or constitute a
default or a Debt Repayment Triggering Event (as defined below) under, or result in the imposition of any lien, charge or encumbrance upon any property or assets of the Company or any of its subsidiaries pursuant to, the declaration of trust,
partnership agreement, charter or bylaws or other organizational documents of the Company or any of its subsidiaries, any statute, rule, regulation or order of any governmental agency or body or any court, domestic or foreign, having jurisdiction
over the Company or any of its subsidiaries or any of their properties, or any agreement or instrument to which the Company or any of its </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>


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subsidiaries is a party or by which the Company or any of its subsidiaries is bound or to which any of the properties of the Company or any of its subsidiaries is subject; a &#147;Debt Repayment
Triggering Event&#148; means any event or condition that gives, or with the giving of notice or lapse of time would give, the holder of any note, debenture, or other evidence of indebtedness (or any person acting on such holder&#146;s behalf) the
right to require the repurchase, redemption or repayment of all or a portion of such indebtedness by the Company or any of its subsidiaries. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(9) <U>Absence of Existing Defaults and Conflicts</U>. Neither the Company nor any of its subsidiaries is (i)&nbsp;in violation
of its respective declaration of trust, partnership agreement, charter or bylaws or other organizational document or (ii)&nbsp;in default (or with the giving of notice or lapse of time would be in default) under any existing obligation, agreement,
covenant or condition contained in any indenture, loan agreement, mortgage, lease or other agreement or instrument to which any of them is a party or by which any of them is bound or to which any of the properties of any of them is subject or
(iii)&nbsp;in violation of any law or statute or any judgment, order, rule or regulation of any court or arbitrator or governmental or regulatory authority, except, in the case of clauses (ii)&nbsp;and (iii) above, for any such default or violation
that would not, individually or in the aggregate, have a Material Adverse Effect or materially and adversely affect the ability of the Company to perform its obligations under this Agreement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(10) <U>Authorization of Agreement</U>. This Agreement has been duly authorized, executed and delivered by the Company. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(11) <U>Possession of Licenses and Permits</U>. The Company and its subsidiaries possess, and are in compliance with the terms
of, all certificates, authorizations, franchises, licenses and permits (&#147;<U>Licenses</U>&#148;) necessary or material to the conduct of the business now conducted or proposed in the Registration Statement and the Prospectus to be conducted by
them and have not received any notice of proceedings relating to the revocation or modification of any Licenses that, if determined adversely to the Company or any of its subsidiaries, would individually or in the aggregate have a Material Adverse
Effect. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(12) <U>Absence of Labor Dispute</U>. No labor dispute with the employees of the Company or any of its
subsidiaries exists or, to the knowledge of the Company, is imminent, and the Company is not aware of any existing or imminent labor disturbance by the employees of any of its or its subsidiaries&#146; principal suppliers, contractors or customers,
that, in any such case, would have a Material Adverse Effect. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(13) <U>Possession of Intellectual Property</U>. The Company
and its subsidiaries own, possess or can acquire on reasonable terms, adequate trademarks, trade names and other rights to inventions, <FONT STYLE="white-space:nowrap">know-how,</FONT> patents, copyrights, confidential information and other
intellectual property (collectively, &#147;intellectual property rights&#148;) necessary to conduct the business now operated by them, or presently employed by them, and have not received any notice of infringement of or conflict with asserted
rights of others with respect to any intellectual property rights that, if determined adversely to the Company or any of its subsidiaries, would individually or in the aggregate have a Material Adverse Effect. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">9 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(14) <U>Environmental Laws</U>. Except as disclosed in the Registration Statement
and the Prospectus, neither the Company nor any of its subsidiaries is in violation of any statute, any rule, regulation, decision or order of any governmental agency or body or any court, domestic or foreign, relating to the use, disposal or
release of hazardous or toxic substances or relating to the protection or restoration of the environment or human exposure to hazardous or toxic substances (collectively, &#147;environmental laws&#148;), owns or operates any real property
contaminated with any substance that is subject to any environmental laws, is liable for any <FONT STYLE="white-space:nowrap">off-site</FONT> disposal or contamination pursuant to any environmental laws, or is subject to any claim relating to any
environmental laws, which violation, contamination, liability or claim would individually or in the aggregate have a Material Adverse Effect; and the Company is not aware of any pending investigation which might lead to such a claim. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(15) <U>Accurate Disclosure</U>. The statements in, or incorporated by reference into, the Registration Statement and the
Prospectus under the headings &#147;Description of Shares,&#148; &#147;Description of Common Shares,&#148; &#147;Material U.S. Federal Income Tax Considerations&#148; and &#147;Risk Factors&#148; and the statements in the Registration Statement
under Item 15 insofar as such statements summarize legal matters, agreements, documents or proceedings discussed therein, are accurate and fair summaries of such legal matters, agreements, documents or proceedings and present the information
required to be shown in all material respects. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(16) <U>REIT Status</U>. With respect to all tax periods regarding which
the Internal Revenue Service is or will be entitled to assert any claim, the Company has met the requirements for qualification as a real estate investment trust (&#147;<U>REIT</U>&#148;) under Sections 856 through 860 of the Internal Revenue Code,
as amended (the &#147;<U>Code</U>&#148;), and the Company&#146;s current organization and present and contemplated operations, assets and income as described in the Registration Statement and the Prospectus will permit the Company to continue to
meet such requirements. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(17) <U>Insurance</U>. The Company and its subsidiaries are insured by insurers of recognized
financial responsibility against such losses and risks and in such amounts as are prudent and customary in the businesses in which they are engaged; the Company has no reason to believe that it or any of its subsidiaries will not be able to renew
its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business at a cost that would not have a Material Adverse Effect; and the Company and each of
its subsidiaries has obtained title insurance on all of the properties owned by each of them in an amount at least equal to the original purchase price to acquire land and improvements and such title insurance is in full force and effect. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(18) <U>Taxes</U>. The Company has filed all federal, state and foreign income tax returns that have been required to be filed
and has paid all taxes indicated by said returns and all assessments, fines and penalties received by it to the extent that such taxes, assessments, fines or penalties have become due. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">10 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(19) <U>Statistical and Market-Related Data</U>. Any third-party statistical and
market-related data included or incorporated by reference in the Registration Statement or the Prospectus are based on or derived from sources that the Company believes to be reliable and accurate. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(20) <U>Compliance with Sarbanes-Oxley Act</U>. Except as set forth in the Registration Statement and the Prospectus,
(i)&nbsp;the Company, its subsidiaries and the Company&#146;s Board of Trustees (the &#147;<U>Board</U>&#148;) are in compliance in all material respects with Sarbanes-Oxley (as defined below) and all applicable Exchange Rules (as defined below);
(ii)&nbsp;the Company has adopted and disclosed corporate governance guidelines; (iii)&nbsp;the Company maintains a system of internal controls, including, but not limited to, disclosure controls and procedures, internal control over financial
reporting, an internal audit function and legal and regulatory compliance controls (collectively, &#147;<U>Internal Controls</U>&#148;), which complies with the Securities Laws (as defined below) and is overseen by the Audit Committee (the
&#147;<U>Audit Committee</U>&#148;) of the Board in accordance with Exchange Rules; (iv)&nbsp;since December&nbsp;31, 2009, the Company has not publicly disclosed or reported to the Audit Committee or the Board, and within the next 90 days the
Company does not reasonably expect to publicly disclose or report to the Audit Committee or the Board, a significant deficiency, material weakness, change in Internal Controls or fraud involving management or other employees who have a significant
role in Internal Controls (each, an &#147;<U>Internal Control Event</U>&#148;), any violation of, or failure to comply with, the Securities Laws, or any matter which, if determined adversely, would have a Material Adverse Effect; and
(v)&nbsp;&#147;Securities Laws&#148; means, collectively, the Sarbanes-Oxley Act of 2002 (&#147;<U>Sarbanes-Oxley</U>&#148;), the Securities Act, the Exchange Act, the rules and regulations of the Commission, the auditing principles, rules,
standards and practices applicable to auditors of &#147;issuers&#148; (as defined in Sarbanes-Oxley) promulgated or approved by the Public Company Accounting Oversight Board (&#147;<U>PCAOB Rules</U>&#148; and &#147;<U>PCAOB</U>,&#148;
respectively), and, as applicable, the rules of the New York Stock Exchange (&#147;<U>Exchange Rules</U>&#148;). There is and has been no failure on the part of the Company and any of the Company&#146;s trustees or officers, in their capacities as
such, to comply with Sarbanes-Oxley Section&nbsp;402 relating to loans and there is and has been no material failure on the part of the Company and any of the Company&#146;s trustees or officers, in their capacities as such to comply with
Sarbanes-Oxley Sections 302 and 906 relating to certifications. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(21) <U>Litigation</U>. Except as disclosed in the
Registration Statement and the Prospectus, there are no pending actions, suits or proceedings (including any inquiries or investigations by any court or governmental agency or body, domestic or foreign) against or affecting the Company, any of its
subsidiaries or any of their respective properties that, if determined adversely to the Company or any of its subsidiaries, would individually or in the aggregate have a Material Adverse Effect, or would materially and adversely affect the ability
of the Company to perform its obligations under this Agreement, or which are otherwise material in the context of the sale of the Securities; and no such actions, suits or proceedings (including any inquiries or investigations by any court or
governmental agency or body, domestic or foreign) are threatened or, to the Company&#146;s knowledge, contemplated. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">11 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(22) <U>No Registration Rights</U>. No holders of securities of the Company have
rights to the registration of such securities under the Registration Statement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(23) <U>Financial Statements</U>. The
consolidated historical financial statements and schedules of the Company and its consolidated subsidiaries included in the Registration Statement and the Prospectus present fairly the financial condition, results of operations, shareholders&#146;
equity and cash flows of the Company as of the dates and for the periods indicated, comply as to form with the applicable accounting requirements of the Securities Act and have been prepared in conformity with generally accepted accounting
principles applied on a consistent basis throughout the periods involved (except as otherwise noted therein). The selected financial data set forth under the caption &#147;Selected Financial Information&#148; in the Registration Statement and the
Prospectus fairly present, on the basis stated in the Registration Statement and the Prospectus, the information included therein. The pro forma financial statements included in Registration Statement and the Prospectus include assumptions that
provide a reasonable basis for presenting the significant effects directly attributable to the transactions and events described therein, the related pro forma adjustments give appropriate effect to those assumptions, and the pro forma adjustments
reflect the proper application of those adjustments to the historical financial statement amounts in the pro forma financial statements included in the Registration Statement and the Prospectus. The pro forma financial statements included in the
Registration Statement and the Prospectus comply as to form in all material respects with the applicable accounting requirements of Regulation <FONT STYLE="white-space:nowrap">S-X</FONT> under the Securities Act and the pro forma adjustments have
been properly applied to the historical amounts in the compilation of those statements. The historical summaries of revenue and certain operating expenses included in the Registration Statement and the Prospectus present fairly the revenue and those
operating expenses included in such summaries of the properties related thereto for the periods specified in conformity with GAAP. Any information contained in the Registration Statement or the Prospectus regarding
<FONT STYLE="white-space:nowrap">&#147;non-GAAP</FONT> financial measures&#148; (as defined in Regulation G of the Commission) complies with Regulation G and Item 10 of Regulation <FONT STYLE="white-space:nowrap">S-K</FONT> of the Commission, to the
extent applicable. The interactive data in eXtensible Business Reporting Language included or incorporated by reference in the Registration Statement and the Prospectus fairly presents the information called for in all material respects and is
prepared in accordance with the Commission&#146;s rules and guidelines applicable thereto. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(24) <U>Independent
Accountants</U>. The accountants, who certified the financial statements and delivered their reports with respect to the audited consolidated financial statements and supporting schedules included in the Registration Statement and the Prospectus,
are independent registered public accountants with respect to the Company within the meaning of the Securities Act and the applicable published rules and regulations thereunder. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">12 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(25) <U>No Prohibition on Dividends by Subsidiaries</U>. Except as otherwise
provided in a secured loan document relating to a property owned by a subsidiary, no Subsidiary of the Company is currently prohibited, directly or indirectly, from paying any dividends to the Company, from making any other distribution on such
Subsidiary&#146;s capital stock, from repaying to the Company any loans or advances to such subsidiary from the Company or from transferring any of such Subsidiary&#146;s property or assets to the Company or any other subsidiary of the Company,
except as described in or contemplated by the Registration Statement and the Prospectus (exclusive of any supplement thereto). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(26) <U>Absence of Manipulation</U>. The Company has not taken, directly or indirectly, any action designed to or that would
constitute or that might reasonably be expected to cause or result in stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Securities. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(27) <U>ERISA</U>. None of the following events has occurred or exists that would have a Material Adverse Effect: (i)&nbsp;a
failure to fulfill the obligations, if any, under the minimum funding standards of Section&nbsp;302 of the United States Employee Retirement Income Security Act of 1974, as amended (&#147;<U>ERISA</U>&#148;), and the regulations and published
interpretations thereunder with respect to a Plan, determined without regard to any waiver of such obligations or extension of any amortization period; (ii)&nbsp;an audit or investigation by the Internal Revenue Service, the U.S. Department of
Labor, the Pension Benefit Guaranty Corporation or any other federal or state governmental agency or any foreign regulatory agency with respect to the employment or compensation of employees by any of the Company or any of its subsidiaries;
(iii)&nbsp;any breach of any contractual obligation, or any violation of law or applicable qualification standards, with respect to the employment or compensation of employees by the Company or any of its subsidiaries. None of the following events
has occurred or is reasonably likely to occur: (i)&nbsp;a material increase in the aggregate amount of contributions required to be made to all Plans in the current fiscal year of the Company and its subsidiaries compared to the amount of such
contributions made in the most recently completed fiscal year of the Company and its subsidiaries; (ii)&nbsp;a material increase in the &#147;accumulated post-retirement benefit obligations&#148; (within the meaning of Statement of Financial
Accounting Standards 106) of the Company and its subsidiaries compared to the amount of such obligations in the most recently completed fiscal year of the Company and its subsidiaries; (iii)&nbsp;any event or condition giving rise to a liability
under Title IV of ERISA that would have a Material Adverse Effect; or (iv)&nbsp;the filing of a claim by one or more employees or former employees of the Company or any of its subsidiaries related to their employment that would have a Material
Adverse Effect. For purposes of this paragraph, the term &#147;Plan&#148; means a plan (within the meaning of Section&nbsp;3(3) of ERISA) subject to Title IV of ERISA with respect to which the Company or any of its subsidiaries may have any
liability. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(28) <U>Foreign Corrupt Practices Act</U>. Neither the Company nor any of its subsidiaries nor, to the
knowledge of the Company, any trustee, officer, agent, employee or affiliate of the Company or any of its subsidiaries is aware of or has taken any action, directly or indirectly, that would result in a violation by such persons of the Foreign
Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder (the &#147;<U>FCPA</U>&#148;), including, without limitation, making use of the mails or any means or </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">13 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
instrumentality of interstate commerce corruptly in furtherance of an offer, payment, promise to pay or authorization of the payment of any money, or other property, gift, promise to give, or
authorization of the giving of anything of value to any &#147;foreign official&#148; (as such term is defined in the FCPA) or any foreign political party or official thereof or any candidate for foreign political office, in contravention of the
FCPA; and the Company, its subsidiaries and, to the knowledge of the Company, its other affiliates have conducted their businesses in compliance with the FCPA. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(29) <U>Money Laundering Laws</U>. The operations of the Company and its subsidiaries are and have been conducted at all times
in compliance with applicable financial recordkeeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended, the money laundering statutes of all applicable jurisdictions, the rules and regulations
thereunder and any related or similar applicable rules, regulations or guidelines, issued, administered or enforced by any governmental agency (collectively, &#147;<U>Money Laundering Laws</U>&#148;) and no action, suit or proceeding by or before
any court or governmental agency, authority or body or any arbitrator involving the Company or any of its subsidiaries with respect to the Money Laundering Laws is pending or, to the knowledge of the Company, threatened. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(30) <U>OFAC</U>. Neither the Company nor any of its subsidiaries nor, to the knowledge of the Company, any trustee, officer,
agent, employee, affiliate or person acting on behalf of the Company or any of its subsidiaries is currently subject to any U.S. sanctions administered by the Office of Foreign Assets Control of the U.S. Treasury Department
(&#147;<U>OFAC</U>&#148;); and the Company will not directly or indirectly use any of the proceeds received by the Company from the sale of Securities contemplated by this Agreement, or lend, contribute or otherwise make available any such proceeds
to any subsidiary, joint venture partner or other person or entity, for the purpose of financing the activities of any person currently subject to any U.S. sanctions administered by OFAC. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(31) <U>Significant Subsidiaries</U>. The subsidiaries listed on <U>Exhibit D</U> attached hereto are the only significant
subsidiaries of the Company as defined by <FONT STYLE="white-space:nowrap">Rule&nbsp;1-02</FONT> of Regulation <FONT STYLE="white-space:nowrap">S-X.</FONT> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(32) <U>Lending Relationship</U>. Except as disclosed in the Registration Statement and the Prospectus, neither the Company nor
any of its subsidiaries has any outstanding borrowings from, or is a party to any line of credit, credit agreement or other credit facility or otherwise has a borrowing relationship with, any bank or other lending institution affiliated with
SunTrust, and, except as disclosed in the Registration Statement and the Prospectus, the Company does not intend to use any of the proceeds from the sale of the Securities to repay any debt owed to SunTrust or any affiliate thereof. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(33) <U>No Other Contracts</U>. There are no contracts or documents that are required to be described in the Registration
Statement or the Prospectus or the documents incorporated by reference therein or to be filed as exhibits thereto that have not been so described and filed as required. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">14 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(34) <U>Investment Company Act</U>. The Company is not and, after giving effect
to the offering and sale of the Securities and the application of the proceeds thereof as described in the Registration Statement and the Prospectus, will not be an &#147;investment company&#148; as defined in the Investment Company Act of 1940 (the
&#147;<U>Investment Company Act</U>&#148;). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(35) <U>Finder&#146;s Fee</U>. Other than this Agreement, there are no
contracts, agreements or understandings between the Company and any person that would give rise to a valid claim against the Company or SunTrust for a brokerage commission, finder&#146;s fee or other like payment as a result of any transactions
contemplated by this Agreement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(36) <U>Proprietary Trading by SunTrust</U>. The Company acknowledges and agrees that
SunTrust has informed the Company that SunTrust may, to the extent permitted under the Securities Act and the Exchange Act, purchase and sell shares of Common Stock for its own account and for the account of its clients while this Agreement is in
effect, and shall be under no obligation to purchase Securities on a principal basis pursuant to this Agreement, except as otherwise agreed by SunTrust in the Placement Notice (as amended by the corresponding Acceptance, if applicable); provided,
that no such purchase or sales for SunTrust&#146;s own account shall take place while a Placement Notice is in effect (except (i)&nbsp;as agreed by SunTrust in the Placement Notice (as amended by the corresponding Acceptance, if applicable) or
(ii)&nbsp;to the extent SunTrust may engage in sales of Placement Securities purchased or deemed purchased from the Company as a &#147;riskless principal&#148; or in a similar capacity). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(37) <U>No Material Adverse Change in Business</U>. Except as disclosed in the Prospectus, since the end of the period covered
by the latest audited financial statements included in the Prospectus (i)&nbsp;there has been no change, nor any development or event involving a prospective change, in the condition (financial or otherwise), results of operations, business,
properties or prospects of the Company and its subsidiaries, taken as a whole that is material and adverse, (ii)&nbsp;except for ordinary quarterly dividends, there has been no dividend or distribution of any kind declared, paid or made by the
Company on any class of its capital stock and (iii)&nbsp;there has been no material adverse change in the capital stock, short-term indebtedness, long-term indebtedness, net current assets or net assets of the Company and its subsidiaries. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(38) <U>Actively Traded Security</U>. Except under circumstances where the Company has provided SunTrust with the notice
required pursuant to Section&nbsp;7(x) of this Agreement, the Common Stock is an &#147;actively traded security&#148; excepted from the requirements of Rule 101 of Regulation M under the Exchange Act by subsection&nbsp;(c)(1) of such rule. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(39) <U>NYSE</U>. The outstanding shares of Common Stock have been and the Securities to be sold by the Company hereunder will
have been approved for listing, subject only to official notice of issuance, on the NYSE, and are registered pursuant to Section&nbsp;12(b) of the Exchange Act, and the Company has taken no action designed to, or likely to have the effect of,
terminating the registration of the Securities under the Exchange Act or delisting any such securities from the NYSE, nor has the Company received any notification that the Commission or the NYSE is contemplating terminating such registration or
listing. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">15 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <I>Certificates</I>. Any certificate signed by any officer of the Company or any of its
subsidiaries and delivered to SunTrust or to counsel for SunTrust shall be deemed a representation and warranty by the Company to SunTrust as to the matters covered thereby. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 6. <U>Sale and Delivery to SunTrust; Settlement</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Sale of Placement Securities</I>. On the basis of the representations and warranties herein contained and subject to the terms and
conditions herein set forth, upon SunTrust&#146;s acceptance of the terms of a Placement Notice or upon receipt by SunTrust of an Acceptance, as the case may be, and unless the sale of the Placement Securities described therein has been declined,
suspended, or otherwise terminated in accordance with the terms of this Agreement, SunTrust, for the period specified in the Placement Notice (as amended by the corresponding Acceptance, if applicable), will use its commercially reasonable efforts
consistent with its normal trading and sales practices to sell such Placement Securities up to the amount specified, and otherwise in accordance with the terms of such Placement Notice (as amended by the corresponding Acceptance, if applicable). The
Company acknowledges and agrees that (i)&nbsp;there can be no assurance that SunTrust will be successful in selling Placement Securities, (ii)&nbsp;SunTrust will incur no liability or obligation to the Company or any other person or entity if it
does not sell Placement Securities for any reason other than a failure by SunTrust to use its commercially reasonable efforts consistent with its normal trading and sales practices to sell such Placement Securities as required under this
Section&nbsp;6 and (iii)&nbsp;SunTrust shall be under no obligation to purchase Securities on a principal basis pursuant to this Agreement, except as otherwise agreed by SunTrust in the Placement Notice (as amended by the corresponding Acceptance,
if applicable). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <I>Settlement of Placement Securities</I>. Unless otherwise specified in the applicable Placement Notice (as amended
by the corresponding Acceptance, if applicable), settlement for sales of Placement Securities will occur on the second (2<SUP STYLE="font-size:85%; vertical-align:top">nd</SUP>) Trading Day (or such earlier day as is industry practice for <FONT
STYLE="white-space:nowrap">regular-way</FONT> trading) following the date on which such sales are made (each, a &#147;<U>Settlement Date</U>&#148;). The amount of proceeds to be delivered to the Company on a Settlement Date against receipt of the
Placement Securities sold (the &#147;<U>Net Proceeds</U>&#148;) will be equal to the aggregate sales price received by SunTrust at which such Placement Securities were sold, after deduction for (i)&nbsp;SunTrust&#146;s commission, discount or other
compensation for such sales payable by the Company pursuant to Section&nbsp;2 hereof, (ii)&nbsp;any other amounts due and payable by the Company to SunTrust hereunder pursuant to Section&nbsp;8(a) hereof, and (iii)&nbsp;any transaction fees imposed
by any governmental or self-regulatory organization in respect of such sales. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <I>Delivery of Placement Securities</I>. On or before
each Settlement Date, the Company will, or will cause its transfer agent to, electronically transfer the Placement Securities being sold by crediting SunTrust&#146;s or its designee&#146;s account (provided SunTrust shall have given the Company
written notice of such designee prior to the Settlement Date) at The Depository Trust Company through its Deposit and Withdrawal at Custodian System or by such other means </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">16 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
of delivery as may be mutually agreed upon by the parties hereto which in all cases shall be freely tradable, transferable, registered shares in good deliverable form. On each Settlement Date,
SunTrust will deliver the related Net Proceeds in same day funds to an account designated by the Company on, or prior to, the Settlement Date. The Company agrees that if the Company, or its transfer agent (if applicable), defaults in its obligation
to deliver Placement Securities on a Settlement Date, the Company agrees that in addition to and in no way limiting the rights and obligations set forth in Section&nbsp;10(a) hereto, it will (i)&nbsp;hold SunTrust harmless against any loss,
liability, claim, damage, or expense whatsoever (including reasonable legal fees and expenses), as incurred, arising out of or in connection with such default by the Company or its transfer agent and (ii)&nbsp;pay to SunTrust any commission,
discount, or other compensation to which it would otherwise have been entitled absent such default. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <I>Denominations;
Registration</I>. Certificates for the Securities shall be in such denominations and registered in such names as SunTrust may request in writing at least one full business day before the Settlement Date. The Company shall deliver the Securities, if
any, through the facilities of The Depository Trust Company unless SunTrust shall otherwise instruct. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) <I>Limitations on Offering
Size</I>. Under no circumstances shall the Company cause or request the offer or sale of any Securities, if after giving effect to the sale of such Securities, the aggregate offering price of the Securities sold pursuant to this Agreement would
exceed the lesser of (A)&nbsp;together with all sales of Securities under the Alternative Equity Distribution Agreements, the Maximum Amount, (B)&nbsp;the amount available for offer and sale under the currently effective Registration Statement and
(C)&nbsp;the amount authorized from time to time to be issued and sold under this Agreement and the Alternative Equity Distribution Agreements by the Company (which authorized amount shall be notified to SunTrust in writing at any time upon
SunTrust&#146;s written request during the pendency of an active Placement Notice). Under no circumstances shall the Company cause or request the offer or sale of any Securities pursuant to this Agreement and the Alternative Equity Distribution
Agreements at a price lower than the minimum price authorized from time to time by the Company (which minimum price shall be notified to SunTrust in writing at any time upon SunTrust&#146;s written request during the pendency of an active Placement
Notice). Further, under no circumstances shall the aggregate offering price of Securities sold pursuant to this Agreement and the Alternative Equity Distribution Agreements, including any separate underwriting or similar agreement covering principal
transactions described in Section&nbsp;1 of this Agreement, exceed the Maximum Amount. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f)
<I><FONT STYLE="white-space:nowrap">Black-out</FONT> Limitations</I>. Notwithstanding any other provision of this Agreement, the Company shall not offer or sell, or instruct SunTrust to offer or sell, any Securities through SunTrust as agent (and,
by notice to SunTrust given by telephone (confirmed promptly by telecopy or email), shall cancel any instructions for any such offer or sale of any Securities prior to the commencement of the periods referenced below), and SunTrust shall not be
obligated to make any such offer or sale of Securities, (i)&nbsp;during any period in which the Company is, or could be deemed to be, in possession of material <FONT STYLE="white-space:nowrap">non-public</FONT> information or (ii)&nbsp;except as
provided in Section&nbsp;6(f)(1) hereof, at any time from and including the date on which the Company issues a press release containing, or shall otherwise publicly announce, its earnings, revenues or other operating results for a fiscal period or
periods (each, an &#147;<U>Earnings Announcement</U>&#148;) through and including the time that is 24 hours after the time that the Company files a Quarterly Report on Form <FONT STYLE="white-space:nowrap">10-Q</FONT> or an Annual Report on Form <FONT
STYLE="white-space:nowrap">10-K</FONT> (a &#147;<U>Filing Time</U>&#148;) that includes consolidated financial statements as of and for the same fiscal period or periods, as the case may be, covered by such Earnings Announcement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">17 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) If the Company wishes to offer or sell Securities to SunTrust as agent at any
time during the period from and including an Earnings Announcement through and including the time that is 24 hours after the corresponding Filing Time, the Company shall first (i)&nbsp;prepare and deliver to SunTrust (with a copy to counsel to
SunTrust) a Current Report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> that includes substantially the same financial and related information (together with management&#146;s discussion and analysis thereof) that was included in such
Earnings Announcement (other than any earnings projections and similar forward-looking data and officers&#146; quotations) (each, an &#147;<U>Earnings <FONT STYLE="white-space:nowrap">8-K</FONT></U>&#148;), in form and substance reasonably
satisfactory to SunTrust, and, prior to its filing, obtain the written consent of SunTrust to such filing (which consent shall not be unreasonably withheld or delayed), (ii) provide SunTrust with the officers&#146; certificate, opinions and letters
of counsel and accountants&#146; letter specified in Section&nbsp;7(o), (p) and (q), respectively, hereof, (iii)&nbsp;afford SunTrust the opportunity to conduct a due diligence review in accordance with Section&nbsp;7(m) hereof prior to filing such
Earnings <FONT STYLE="white-space:nowrap">8-K</FONT> and (iv)&nbsp;file such Earnings <FONT STYLE="white-space:nowrap">8-K</FONT> with the Commission, then the provision of clause (ii)&nbsp;of Section&nbsp;6(f) shall not be applicable for the period
from and after the time at which the foregoing conditions shall have been satisfied (or, if later, the time that is 24 hours after the time that the relevant Earnings Announcement was first publicly released) through and including the time that is
24 hours after the Filing Time of the relevant Quarterly Report on Form <FONT STYLE="white-space:nowrap">10-Q</FONT> or Annual Report on Form <FONT STYLE="white-space:nowrap">10-K,</FONT> as the case may be. For purposes of clarity, the parties
hereto agree that (A)&nbsp;the delivery of any officers&#146; certificate, opinion or letter of counsel or accountants&#146; letter pursuant to this Section&nbsp;6(f) shall not relieve the Company from any of its obligations under this Agreement
with respect to any Quarterly Report on Form <FONT STYLE="white-space:nowrap">10-Q</FONT> or Annual Report on Form <FONT STYLE="white-space:nowrap">10-K,</FONT> as the case may be, including, without limitation, the obligation to deliver
officers&#146; certificates, opinions and letters of counsel and accountants&#146; letters as provided in Section&nbsp;7(o), (p) and (q), respectively, hereof, and (B)&nbsp;this Section&nbsp;6(f) shall in no way affect or limit the operation of
clause (i)&nbsp;of Section&nbsp;6(f) hereof, which shall have independent application. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 7. <U>Covenants of the Company</U>. The
Company covenants with SunTrust as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Registration Statement Amendments; Payment of Fees</I>. After the date of this
Agreement and during any period in which a Prospectus relating to any Placement Securities is required to be delivered by SunTrust under the Securities Act (including in circumstances where such requirement may be satisfied pursuant to Rule 172
under the Securities Act), (i) the Company will notify SunTrust promptly of the time when any subsequent amendment to the Registration Statement, other than documents incorporated by reference, has been filed with the Commission and/or has become
effective or any subsequent supplement to the Prospectus has been filed and of any comment letter from the Commission or any request by the Commission for any amendment or supplement to the Registration Statement or Prospectus or for additional
information; (ii)&nbsp;the Company will prepare and file with the Commission, promptly upon SunTrust&#146;s request, any amendments or supplements to the Registration Statement or Prospectus </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">18 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
that, in SunTrust&#146;s reasonable opinion, may be necessary or advisable in connection with the distribution of the Placement Securities by SunTrust (<I>provided</I>, <I>however</I>, that the
failure of SunTrust to make such request shall not relieve the Company of any obligation or liability hereunder, or affect SunTrust&#146;s right to rely on the representations and warranties made by the Company in this Agreement); (iii) the Company
will not file any amendment or supplement to the Registration Statement or Prospectus, other than documents incorporated by reference, relating to the Placement Securities or a security convertible into the Placement Securities unless a copy thereof
has been submitted to SunTrust within a reasonable period of time before the filing and SunTrust has not reasonably objected thereto (<I>provided</I>, <I>however</I>, that the failure of SunTrust to make such objection shall not relieve the Company
of any obligation or liability hereunder, or affect SunTrust&#146;s right to rely on the representations and warranties made by the Company in this Agreement) and the Company will furnish to SunTrust at the time of filing thereof a copy of any
document that upon filing is deemed to be incorporated by reference into the Registration Statement or Prospectus, except for those documents available via EDGAR; and (iv)&nbsp;the Company will cause each amendment or supplement to the Prospectus,
other than documents incorporated by reference, to be filed with the Commission as required pursuant to the applicable paragraph of Rule 424(b) of the Securities Act (without reliance on Rule 424(b)(8) of the Securities Act). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <I>Notice of Commission Stop Orders</I>. The Company will advise SunTrust, promptly after it receives notice or obtains knowledge thereof,
of the issuance or threatened issuance by the Commission of any stop order suspending the effectiveness of the Registration Statement or of any other order preventing or suspending the use of the Prospectus or any Issuer Free Writing Prospectus, or
of the suspension of the qualification of the Placement Securities for offering or sale in any jurisdiction or of the loss or suspension of any exemption from any such qualification, or of the initiation or threatening of any proceedings for any of
such purposes, or of any examination pursuant to Section&nbsp;8(e) of the Securities Act concerning the Registration Statement or if the Company becomes the subject of a proceeding under Section&nbsp;8A of the Securities Act in connection with the
offering of the Securities. The Company will make every reasonable effort to prevent the issuance of any stop order, the suspension of any qualification of the Securities for offering or sale and any loss or suspension of any exemption from any such
qualification, and if any such stop order is issued or any such suspension or loss occurs, to obtain the lifting thereof at the earliest possible moment. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <I>Delivery of Registration Statement and Prospectus</I>. The Company will furnish to SunTrust and its counsel (at the expense of the
Company) copies of the Registration Statement, the Prospectus (including all documents incorporated by reference therein) and all amendments and supplements to the Registration Statement or Prospectus, and any Issuer Free Writing Prospectuses, that
are filed with the Commission during any period in which a Prospectus relating to the Placement Securities is required to be delivered under the Securities Act (including all documents filed with the Commission during such period that are deemed to
be incorporated by reference therein), in each case as soon as reasonably practicable and in such quantities and at such locations as SunTrust may from time to time reasonably request. The copies of the Registration Statement and the Prospectus and
any supplements or amendments thereto furnished to SunTrust will be identical to the electronically transmitted copies thereof filed with the Commission pursuant to EDGAR, except to the extent permitted by Regulation
<FONT STYLE="white-space:nowrap">S-T.</FONT> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">19 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <I>Continued Compliance with Securities Laws</I>. If at any time when a Prospectus is
required by the Securities Act or the Exchange Act to be delivered in connection with a pending sale of the Placement Securities (including, without limitation, pursuant to Rule 172), any event shall occur or condition shall exist as a result of
which it is necessary, in the opinion of counsel for SunTrust or for the Company, to amend the Registration Statement or amend or supplement the Prospectus in order that the Prospectus will not include any untrue statement of a material fact or omit
to state a material fact necessary in order to make the statements therein not misleading in the light of the circumstances existing at the time it is delivered to a purchaser, or if it shall be necessary, in the opinion of such counsel, at any such
time to amend the Registration Statement or amend or supplement the Prospectus in order to comply with the requirements of the Securities Act, the Company will promptly notify SunTrust to suspend the offering of Placement Securities during such
period and the Company will promptly prepare and file with the Commission such amendment or supplement as may be necessary to correct such statement or omission or to make the Registration Statement or the Prospectus comply with such requirements,
and the Company will furnish to SunTrust such number of copies of such amendment or supplement as SunTrust may reasonably request. If at any time following issuance of an Issuer Free Writing Prospectus there occurred or occurs an event or
development as a result of which such Issuer Free Writing Prospectus conflicted, conflicts or would conflict with the information contained in the Registration Statement or the Prospectus or included, includes or would include an untrue statement of
a material fact or omitted, omits or would omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances, prevailing at that subsequent time, not misleading, the Company will promptly notify
SunTrust to suspend the offering of Placement Securities during such period and the Company will, subject to Section&nbsp;7(a) hereof, promptly amend or supplement such Issuer Free Writing Prospectus to eliminate or correct such conflict, untrue
statement or omission. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) <I>Blue Sky and Other Qualifications</I>. The Company will use its best efforts, in cooperation with SunTrust,
to qualify the Placement Securities for offering and sale, or to obtain an exemption for the Securities to be offered and sold, under the applicable securities laws of such states and other jurisdictions (domestic or foreign) as SunTrust may
designate and to maintain such qualifications and exemptions in effect for so long as required for the distribution of the Securities (but in no event for less than one year from the date of this Agreement); <I>provided</I>, <I>however</I>, that the
Company shall not be obligated to file any general consent to service of process or to qualify as a foreign corporation or as a dealer in securities in any jurisdiction in which it is not so qualified or to subject itself to taxation in respect of
doing business in any jurisdiction in which it is not otherwise so subject. In each jurisdiction in which the Placement Securities have been so qualified or exempt, the Company will file such statements and reports as may be required by the laws of
such jurisdiction to continue such qualification or exemption, as the case may be, in effect for so long as required for the distribution of the Placement Securities (but in no event for less than one year from the date of this Agreement). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) <I>Rule 158</I>. The Company will timely file such reports pursuant to the Exchange Act as are necessary in order to make generally
available to its securityholders as soon as reasonably practicable an earnings statement for the purposes of, and to provide to SunTrust the benefits contemplated by, the last paragraph of Section&nbsp;11(a) of the Securities Act. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">20 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) <I>Use of Proceeds</I>. The Company will use the net proceeds received by it from the sale of
the Securities in the manner specified in the Prospectus under &#147;Use of Proceeds.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) <I>Listing</I>. During any period in
which the Prospectus relating to the Placement Securities is required to be delivered by SunTrust under the Securities Act with respect to a pending sale of the Placement Securities (including in circumstances where such requirement may be satisfied
pursuant to Rule 172 under the Securities Act), the Company will use its commercially reasonable efforts to cause the Placement Securities to be listed on the NYSE. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) <I>Filings with the NYSE</I>. The Company will timely file with the NYSE all material documents and notices required by the NYSE of
companies that have or will issue securities that are traded on the NYSE. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) <I>Reporting Requirements</I>. The Company, during any
period when the Prospectus is required to be delivered under the Securities Act and the Exchange Act (including in circumstances where such requirement may be satisfied pursuant to Rule 172 under the Securities Act), will file all documents required
to be filed with the Commission pursuant to the Exchange Act within the time periods required by the Exchange Act. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k) <I>Notice of Other
Sales</I>. During the pendency of any Placement Notice delivered hereunder (as amended by the corresponding Acceptance, if applicable), the Company will not, without giving SunTrust at least one (1)&nbsp;business day prior written notice specifying
the nature of the proposed sale and the date of such proposed sale , (A) offer, pledge, announce the intention to sell, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right
or warrant for the sale of, lend or otherwise transfer or dispose of, directly or indirectly, any Common Stock or securities convertible into or exchangeable or exercisable for or repayable with Common Stock, or file any registration statement under
the 1933 Act with respect to any of the foregoing (other than a shelf registration statement under Rule 415 under the 1933 Act, a registration statement on Form <FONT STYLE="white-space:nowrap">S-8</FONT> or post-effective amendment to the
Registration Statement) or (B)&nbsp;enter into any swap or other agreement or any transaction that transfers in whole or in part, directly or indirectly, any of the economic consequence of ownership of the Common Stock, or any securities convertible
into or exchangeable or exercisable for or repayable with Common Stock, whether any such swap or transaction described in clause (A)&nbsp;or (B) above is to be settled by delivery of Common Stock or such other securities, in cash or otherwise. The
foregoing sentence shall not apply to (i)&nbsp;the Common Stock to be offered and sold through SunTrust and the Alternative Placement Agents pursuant to this Agreement and the Alternative Equity Distribution Agreements, (ii)&nbsp;any shares of
Common Stock issued by the Company upon the exercise of an option or warrant or the conversion, redemption or exchange of a security outstanding at the time such Placement Notice is delivered, including Common Stock issuable upon exchange of
operating partnership units of any operating partnership subsidiary of the Company (&#147;OP Units&#148;), (iii) any issuances of OP Units, (iv)&nbsp;Common Stock issuable pursuant to the Company&#146;s direct dividend reinvestment plan as it may be
amended or replaced from time to time, and (v)&nbsp;equity incentive awards approved by the Board or the compensation committee thereof or the issuance of Common Stock upon exercise thereof. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">21 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(l) <I>Change of Circumstances</I>. The Company will, at any time during a fiscal quarter in
which the Company intends to tender a Placement Notice or sell Placement Securities, advise SunTrust promptly after it shall have received notice or obtained knowledge thereof, of any information or fact that would alter or affect in any material
respect any opinion, certificate, letter or other document provided to SunTrust pursuant to this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(m) <I>Due Diligence
Cooperation</I>. The Company will cooperate with any reasonable due diligence review conducted by SunTrust or its agents in connection with the transactions contemplated hereby, including, without limitation, providing information and making
available documents and senior officers, during regular business hours and at the Company&#146;s principal offices, as SunTrust may reasonably request. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(n) <I>Representation Dates; Certificate</I>. On or prior to the date that the first Securities are sold pursuant to the terms of this
Agreement and: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) each time the Company: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) files the Prospectus relating to the Placement Securities or amends or supplements the Registration Statement or the
Prospectus relating to the Placement Securities by means of a post-effective amendment, sticker, or supplement but not by means of incorporation of documents by reference into the Registration Statement or the Prospectus relating to the Placement
Securities; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) files an annual report on Form <FONT STYLE="white-space:nowrap">10-K</FONT> under the Exchange Act; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) files a quarterly report on Form <FONT STYLE="white-space:nowrap">10-Q</FONT> under the Exchange Act; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) files a report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> containing amended financial information (other than an
earnings release, to &#147;furnish&#148; information pursuant to Items 2.02 or 7.01 of Form <FONT STYLE="white-space:nowrap">8-K)</FONT> under the Exchange Act; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) at any other time reasonably requested by SunTrust (each such date of filing of one or more of the documents referred to in
clauses (1)(i) through (iv)&nbsp;and any time of request pursuant to this Section&nbsp;7(n) shall be a &#147;<U>Representation Date</U>&#148;), </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">the Company shall furnish SunTrust with a certificate, in the form attached hereto as <U>Exhibit F</U> within two (2)&nbsp;Trading Days of any
Representation Date. Except as otherwise notified by SunTrust with respect to a Representation Date on which the Company files its Form <FONT STYLE="white-space:nowrap">10-K,</FONT> the requirement to provide a certificate under this
Section&nbsp;7(n) shall be waived for any Representation Date occurring at a time at which no Placement Notice (as amended by the corresponding Acceptance, if applicable) is pending, which waiver shall continue until the earlier to occur of the date
the Company delivers a Placement Notice hereunder (which for such calendar quarter shall be considered a Representation Date) and the next occurring Representation Date. Notwithstanding the foregoing, if the Company subsequently decides to sell
Placement Securities following a Representation Date when the Company relied on such waiver and did not provide SunTrust with a certificate under this Section&nbsp;7(n), then before the Company delivers the Placement Notice or SunTrust sells any
Placement Securities, the Company shall provide SunTrust with a certificate, in the form attached hereto as <U>Exhibit F</U>, dated the date of the Placement Notice. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">22 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(o) <I>Legal Opinions.</I> On or prior to the date that the first Securities are sold pursuant to
the terms of this Agreement, within two (2)&nbsp;Trading Days of each Representation Date with respect to which the Company is obligated to deliver a certificate in the form attached hereto as <U>Exhibit F</U> for which no waiver is applicable, the
Company shall cause to be furnished to SunTrust written opinions of Hogan Lovells US LLP (&#147;<U>Company Counsel</U>&#148;), or other counsel satisfactory to SunTrust, in form and substance satisfactory to SunTrust and its counsel, dated the date
that the opinions are required to be delivered, substantially similar to the forms attached hereto as <U>Exhibit E</U>, modified, as necessary, to relate to the Registration Statement and the Prospectus as then amended or supplemented;
<I>provided</I>, <I>however</I>, that in lieu of such opinions for subsequent Representation Dates, counsel may furnish SunTrust with a letter (a &#147;<U>Reliance Letter</U>&#148;) to the effect that SunTrust may rely on a prior opinion delivered
under this Section&nbsp;7(o) to the same extent as if it were dated the date of such letter (except that statements in such prior opinion shall be deemed to relate to the Registration Statement and the Prospectus as amended or supplemented at such
Representation Date). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(p) <I>Comfort Letter</I>. On or prior to the date that the first Securities are sold pursuant to the terms of this
Agreement, within two (2)&nbsp;Trading Days of each Representation Date with respect to which the Company is obligated to deliver a certificate substantially in the form attached hereto as <U>Exhibit F</U> for which no waiver is applicable, the
Company shall cause its independent accountants (and any other independent accountants whose report is included in the Registration Statement or the Prospectus) to furnish SunTrust letters (the &#147;<U>Comfort Letters</U>&#148;), dated the date of
the Comfort Letter is delivered, in form and substance satisfactory to SunTrust, (i)&nbsp;confirming that they are an independent registered public accounting firm within the meaning of the Securities Act, the Exchange Act and the PCAOB,
(ii)&nbsp;stating, as of such date, the conclusions and findings of such firm with respect to the financial information and other matters ordinarily covered by accountants&#146; &#147;comfort letters&#148; to underwriters in connection with
registered public offerings (the first such letter, the &#147;<U>Initial Comfort Letter</U>&#148;) and (iii)&nbsp;updating the Initial Comfort Letter with any information that would have been included in the Initial Comfort Letter had it been given
on such date and modified as necessary to relate to the Registration Statement and the Prospectus, as amended and supplemented to the date of such letter. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(q) <I>Market Activities</I>. The Company will not, directly or indirectly, (i)&nbsp;take any action designed to cause or result in, or that
constitutes or might reasonably be expected to constitute, the stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Securities or (ii)&nbsp;sell, bid for, or purchase the Securities to be
issued and sold pursuant to this Agreement, or pay anyone any compensation for soliciting purchases of the Securities to be issued and sold pursuant to this Agreement other than SunTrust; <I>provided</I>, <I>however</I>, that the Company may bid for
and purchase its Common Stock in accordance with Rule <FONT STYLE="white-space:nowrap">10b-18</FONT> under the Exchange Act; and provided further, that no such bids or purchases shall be made by the Company during the two (2)&nbsp;Trading Days
before or after any sale of any Securities pursuant to this Agreement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">23 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(r) <I>Insurance</I>. The Company and its subsidiaries shall maintain, or caused to be
maintained, insurance in such amounts and covering such risks as is reasonable and customary for companies engaged in similar businesses in similar industries, except where the failure to maintain such insurance would not have a Material Adverse
Effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(s) <I>Compliance with Laws</I>. The Company and each of its subsidiaries shall maintain, or cause to be maintained, all material
environmental permits, licenses and other authorizations required by federal, state and local law in order to conduct their businesses as described in the Prospectus, and the Company and each of its subsidiaries shall conduct their businesses, or
cause their businesses to be conducted, in substantial compliance with such permits, licenses and authorizations and with applicable environmental laws, except where the failure to maintain or be in compliance with such permits, licenses and
authorizations could not reasonably be expected to have a Material Adverse Effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(t) <I>Investment Company Act</I>. The Company will
conduct its affairs in such a manner so as to reasonably ensure that neither it nor its subsidiaries will be or become, at any time prior to the termination of this Agreement, an &#147;investment company,&#148; as such term is defined in the
Investment Company Act, assuming no change in the Commission&#146;s current interpretation as to entities that are not considered an investment company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(u) <I>Securities Act and Exchange Act</I>. The Company will use its best efforts to comply with all requirements imposed upon it by the
Securities Act and the Exchange Act as from time to time in force, so far as necessary to permit the continuance of sales of, or dealings in, the Placement Securities as contemplated by the provisions hereof and the Prospectus. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) <I>No Offer to Sell</I>. Other than a free writing prospectus (as defined in Rule 405 under the Securities Act) approved in advance in
writing by the Company and the Agents in their respective capacities as a principal or agent hereunder or under the Alternative Equity Distribution Agreements, the Company (including its agents and representatives, other than the Agents in their
respective capacities as such) will not, directly or indirectly, make, use, prepare, authorize, approve or refer to any free writing prospectus relating to the Securities to be sold by the Agents as principal or agent hereunder or under an
Alternative Equity Distribution Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(w) <I>Sarbanes-Oxley Act</I>. The Company and its subsidiaries will use their best efforts to
comply with all effective applicable provisions of the Sarbanes-Oxley Act of 2002. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(x) <I>Regulation M</I>. If the Company has reason to
believe that the exemptive provisions set forth in Rule 101(c)(1) of Regulation M under the Exchange Act are not satisfied with respect to the Company or the Common Stock, it shall promptly notify SunTrust and sales of the Placement Securities under
this Agreement shall be suspended until that or other exemptive provisions have been satisfied in the judgment of each party. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(y) <I>REIT
Treatment</I>. The Company currently intends to continue to elect to qualify as a REIT under the Code and will use its best efforts to enable the Company to continue to meet the requirements for qualification and taxation as a REIT under the Code
for subsequent tax years that include any portion of the term of this Agreement; unless the Company&#146;s Board in good faith determines by resolution that it is in the best interests of the Company&#146;s stockholders not to meet such
requirements. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">24 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 8. <U>Payment of Expenses</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Expenses</I>. The Company will pay all expenses incident to the performance of its obligations under this Agreement, including
(i)&nbsp;the preparation, printing and filing of the Registration Statement (including financial statements and exhibits) as originally filed and of each amendment and supplement thereto, (ii)&nbsp;the word processing, printing and delivery to
SunTrust of this Agreement and such other documents as may be required in connection with the offering, purchase, sale, issuance or delivery of the Placement Securities, (iii)&nbsp;the preparation, issuance and delivery of the certificates for the
Placement Securities to SunTrust, including any stock or other transfer taxes and any capital duties, stamp duties or other duties or taxes payable upon the sale, issuance or delivery of the Placement Securities to SunTrust, (iv)&nbsp;the fees and
disbursements of the counsel, accountants and other advisors to the Company, (v)&nbsp;the qualification or exemption of the Placement Securities under securities laws in accordance with the provisions of Section&nbsp;7(e) hereof, including filing
fees and the reasonable fees and disbursements of counsel for SunTrust in connection therewith and in connection with the preparation of the Blue Sky Survey and any supplements thereto (not to exceed $10,000), (vi) the printing and delivery to
SunTrust of copies of any permitted Free Writing Prospectus and the Prospectus and any amendments or supplements thereto and any costs associated with electronic delivery of any of the foregoing by SunTrust to investors, (vii)&nbsp;the preparation,
printing and delivery to SunTrust of copies of the Blue Sky Survey and any Canadian &#147;wrapper&#148; and any supplements thereto, (viii)&nbsp;the fees and expenses of the custodian and the transfer agent and registrar for the Securities,
(ix)&nbsp;the filing fees incident to, and the reasonable fees and disbursements of counsel to SunTrust in connection with, any review by FINRA of the terms of the sale of the Securities, (x)&nbsp;the fees and expenses incurred in connection with
the listing of the Placement Securities on the NYSE, and (xi)&nbsp;if Securities having an aggregate offering price of $25,000,000 or more have not been offered and sold under this Agreement and the Alternative Equity Distribution Agreements by the
eighteen month anniversary of the date of this Agreement (or such earlier date at which the Company terminates this Agreement) (the &#147;<U>Determination Date</U>&#148;), the Company shall reimburse SunTrust and the Alternative Placement Agents for
all of their reasonable <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">out-of-pocket</FONT></FONT> expenses, including the reasonable fees and disbursements of counsel for SunTrust and the Alternative Placement Agents incurred by
SunTrust and the Alternative Placement Agents in connection with the transactions contemplated by this Agreement (the &#147;<U>Expenses</U>&#148;); provided that the Company shall not be obligated to reimburse any such Expenses pursuant to this
Agreement and pursuant to the Alternative Equity Distribution Agreements in excess of $150,000 in the aggregate (and such $150,000 limit shall be reduced pro rata for any portion of such $25,000,000 of Securities actually sold pursuant to this
Agreement and the Alternative Distribution Agreements during such eighteen-month period (i.e., if, for example $6,250,000 of Securities are sold, such limit shall be $112,500; if, for example, $12,500,000 of Securities are sold, such limit shall be
$75,000; and if, for example, $18,750,000 of Securities are sold, such limit shall be $37,500)). The Expenses shall be due and payable by the Company to SunTrust and the Alternative Placement Agents within five (5)&nbsp;business days of the
Determination Date. The Agents shall be solely responsible for allocating any reimbursement pursuant to this subsection among themselves. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">25 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <I>Termination of Agreement</I>. If this Agreement is terminated by SunTrust in accordance
with the provisions of Section&nbsp;9(m) or Section&nbsp;13(a)(i) hereof, the Company shall reimburse SunTrust for all of their out of pocket expenses, including the reasonable fees and disbursements of counsel for SunTrust, unless Securities having
an aggregate offering price of $25,000,000 or more have previously been offered and sold under this Agreement and/or the Alternative Distribution Agreements. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 9. <U>Conditions of SunTrust</U><U>&#146;</U><U>s Obligations</U>. The obligations of SunTrust hereunder with respect to a Placement
will be subject to the continuing accuracy and completeness of the representations and warranties of the Company contained in this Agreement and in certificates of any officer of the Company or any subsidiary of the Company delivered pursuant to the
provisions hereof, to the performance by the Company of its covenants and other obligations hereunder, and to the following further conditions: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Effectiveness of Registration Statement</I>. The Registration Statement and any Rule 462(b) Registration Statement shall have become
effective and shall be available for (i)&nbsp;all sales of Placement Securities issued pursuant to all prior Placement Notices (each as amended by a corresponding Acceptance, if applicable) and (ii)&nbsp;the sale of all Placement Securities
contemplated to be issued by any Placement Notice (each as amended by a corresponding Acceptance, if applicable). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <I>No Material
Notices</I>. None of the following events shall have occurred and be continuing: (i)&nbsp;receipt by the Company or any of its subsidiaries of any request for additional information from the Commission or any other federal or state governmental
authority during the period of effectiveness of the Registration Statement, the response to which would require any post-effective amendments or supplements to the Registration Statement or the Prospectus; (ii)&nbsp;the issuance by the Commission or
any other federal or state governmental authority of any stop order suspending the effectiveness of the Registration Statement or the initiation of any proceedings for that purpose; (iii)&nbsp;receipt by the Company of any notification with respect
to the suspension of the qualification or exemption from qualification of any of the Placement Securities for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; or (iv)&nbsp;the occurrence of any event that
makes any material statement made in the Registration Statement or the Prospectus, or any Issuer Free Writing Prospectus, or any material document incorporated or deemed to be incorporated therein by reference untrue in any material respect or that
requires the making of any changes in the Registration Statement, related Prospectus, or any Issuer Free Writing Prospectus, or such documents so that, in the case of the Registration Statement, it will not contain any materially untrue statement of
a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading and, that in the case of the Prospectus and any Issuer Free Writing Prospectus, it will not contain any
materially untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <I>No Material Misstatement or Omission</I>. SunTrust shall not have advised the Company that the Registration Statement or Prospectus, or
any Issuer Free Writing Prospectus, or any amendment or supplement thereto, contains an untrue statement of fact that in SunTrust&#146;s reasonable opinion is material, or omits to state a fact that in SunTrust&#146;s opinion is material and is
required to be stated therein or is necessary to make the statements therein not misleading. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">26 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <I>Material Changes</I>. Except as contemplated in the Prospectus, or disclosed in the
Company&#146;s reports filed with the Commission, there shall not have been any material adverse change in the condition, financial or otherwise, or in the results of operations, business affairs or business prospects of the Company and its
subsidiaries considered as one enterprise, whether or not arising in the ordinary course of business. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) <I>Opinions of Counsel for
Company</I>. SunTrust shall have received the favorable opinions of Company Counsel, required to be delivered pursuant to Section&nbsp;7(o) on or before the date on which such delivery of such opinions is required pursuant to Section&nbsp;7(o). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) <I>Representation Certificate</I>. SunTrust shall have received the certificate required to be delivered pursuant to Section&nbsp;7(n) on
or before the date on which delivery of such certificate is required pursuant to Section&nbsp;7(n). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) <I>Accountant&#146;s Comfort
Letter</I>. SunTrust shall have received the Comfort Letter required to be delivered pursuant Section&nbsp;7(p) on or before the date on which such delivery of such opinion is required pursuant to Section&nbsp;7(p). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) <I>Opinion of Counsel for SunTrust</I>. On or prior to the date that the first Securities are sold pursuant to the terms of this
Agreement, within two (2)&nbsp;Trading Days of each Representation Date with respect to which the Company is obligated to deliver a certificate in the form attached hereto as <U>Exhibit F</U> for which no waiver is applicable, SunTrust shall have
received the favorable written opinion or opinions of Goodwin Procter LLP, counsel for SunTrust, dated such date, with respect to such matters as SunTrust may reasonably request. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) <I>Approval for Listing</I>. The Placement Securities shall either have been (i)&nbsp;approved for listing on NYSE, subject only to notice
of issuance, or (ii)&nbsp;the Company shall have filed an application for listing of the Placement Securities on NYSE at, or prior to, the issuance of any Placement Notice. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) <I>No Suspension</I>. Trading in the Securities shall not have been suspended on the NYSE. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k) <I>Additional Documents</I>. On each date on which the Company is required to deliver a certificate pursuant to Section&nbsp;7(n), counsel
for SunTrust shall have been furnished with such documents and opinions as they may reasonably require for the purpose of enabling them to pass upon the issuance and sale of the Securities as herein contemplated, or in order to evidence the accuracy
of any of the representations or warranties, or the fulfillment of any of the conditions, contained in this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(l) <I>Securities
Act Filings Made</I>. All filings with the Commission required by Rule 424 under the Securities Act to have been filed prior to the issuance of any Placement Notice hereunder shall have been made within the applicable time period prescribed for such
filing by Rule 424. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">27 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(m) <I>Termination of Agreement</I>. If any condition specified in this Section&nbsp;9 shall not
have been fulfilled when and as required to be fulfilled, this Agreement may be terminated by SunTrust by notice to the Company, and such termination shall be without liability of any party to any other party except as provided in Section&nbsp;8
hereof and except that, in the case of any termination of this Agreement, Sections&nbsp;5, 10, 11, 12 and 22 hereof shall survive such termination and remain in full force and effect. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 10. <U>Indemnification</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Indemnification by the Company</I>. The Company agrees to indemnify and hold harmless SunTrust, its affiliates (as such term is defined
in Rule 501(b) of the Securities Act), and each person, if any, who controls SunTrust within the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) against any and all loss, liability, claim, damage and expense whatsoever, as incurred, arising out of any untrue statement
or alleged untrue statement of a material fact contained in the Registration Statement (or any amendment thereto), including any information deemed to be a part thereof pursuant to Rule 430B, or the omission or alleged omission therefrom of a
material fact required to be stated therein or necessary to make the statements therein not misleading, or arising out of any untrue statement or alleged untrue statement of a material fact included (A)&nbsp;in any Issuer Free Writing Prospectus or
the Prospectus (or any amendment or supplement thereto) or (B)&nbsp;in any materials or information provided to investors by, or with the approval of, the Company in connection with the marketing of any offering of Securities (&#147;<U>Marketing
Materials&#148;)</U>, including any roadshow or investor presentations made to investors by the Company (whether in person or electronically), or the omission or alleged omission therefrom of a material fact necessary in order to make the statements
therein, in the light of the circumstances under which they were made, not misleading; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) against any and all loss,
liability, claim, damage and expense whatsoever, as incurred, to the extent of the aggregate amount paid in settlement of any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or of any claim
whatsoever based upon any such untrue statement or omission, or any such alleged untrue statement or omission; provided that (subject to Section&nbsp;10(d) below) any such settlement is effected with the written consent of the Company; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) against any and all expense whatsoever, as incurred (including the fees and disbursements of counsel chosen by SunTrust),
reasonably incurred in investigating, preparing or defending against any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or any claim whatsoever based upon any such untrue statement or
omission, or any such alleged untrue statement or omission, to the extent that any such expense is not paid under (i)&nbsp;or (ii) above, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">28 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>provided</I>, <I>however</I>, that this indemnity agreement shall not apply to any loss, liability, claim,
damage or expense to the extent arising out of any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with information furnished to the Company in writing by SunTrust expressly for use
therein, it being understood and agreed that the only such information furnished by SunTrust as of the date hereof consists of the Agent Information. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <I>Indemnification by SunTrust</I>. SunTrust agrees to indemnify and hold harmless the Company, its trustees, each of its officers who
signed the Registration Statement, and each person, if any, who controls the Company within the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act against any and all loss, liability, claim, damage and expense
described in the indemnity contained in subsection (a)&nbsp;of this Section&nbsp;10, as incurred, but only with respect to untrue statements or omissions, or alleged untrue statements or omissions, made in the Registration Statement (or any
amendment thereto), any Issuer Free Writing Prospectus or the Prospectus (or any amendment or supplement thereto) in reliance upon and in conformity with information furnished to the Company in writing by SunTrust expressly for use therein, it being
understood and agreed that the only such information furnished by SunTrust as of the date hereof consists of the Agent Information. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c)
<I>Actions against Parties; Notification</I>. Each indemnified party shall give notice as promptly as reasonably practicable to each indemnifying party of any action commenced against it in respect of which indemnity may be sought hereunder, but
failure to so notify an indemnifying party shall not relieve such indemnifying party from any liability hereunder to the extent it is not materially prejudiced as a result thereof and in any event shall not relieve it from any liability which it may
have otherwise than on account of this indemnity agreement. Counsel to the indemnified parties shall be selected as follows: counsel to SunTrust and each person, if any, who controls SunTrust within the meaning of Section&nbsp;15 of the Securities
Act or Section&nbsp;20 of the Exchange Act shall be selected by SunTrust; and counsel to the Company, its trustees, each of its officers who signed the Registration Statement and each person, if any, who controls the Company within the meaning of
Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act shall be selected by the Company. An indemnifying party may participate at its own expense in the defense of any such action; <I>provided</I>, <I>however</I>, that counsel
to the indemnifying party shall not (except with the consent of the indemnified party) also be counsel to the indemnified party. In no event shall the indemnifying parties be liable for the fees and expenses of more than one counsel (in addition to
any local counsel) separate from their own counsel for SunTrust and each person, if any, who controls SunTrust within the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act, and the fees and expenses of more than
one counsel (in addition to any local counsel) separate from their own counsel for the Company, its trustees, each of its officers who signed the Registration Statement and each person, if any, who controls the Company within the meaning of
Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act, in each case in connection with any one action or separate but similar or related actions in the same jurisdiction arising out of the same general allegations or
circumstances. No indemnifying party shall, without the prior written consent of the indemnified parties, settle or compromise or consent to the entry of any judgment with respect to any litigation, or any investigation or proceeding by any
governmental agency or body, commenced or threatened, or any claim whatsoever in respect of which indemnification or contribution could be sought under this Section&nbsp;10 or Section&nbsp;11 hereof (whether or not the
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">29 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
indemnified parties are actual or potential parties thereto), unless such settlement, compromise or consent (i)&nbsp;includes an unconditional release of each indemnified party from all liability
arising out of such litigation, investigation, proceeding or claim and (ii)&nbsp;does not include a statement as to or an admission of fault, culpability or a failure to act by or on behalf of any indemnified party. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <I>Settlement Without Consent if Failure to Reimburse</I>. If at any time an indemnified party shall have requested an indemnifying party
to reimburse the indemnified party for fees and expenses of counsel, such indemnifying party agrees that it shall be liable for any settlement of the nature contemplated by Section&nbsp;10(a)(ii) effected without its written consent if (i)&nbsp;such
settlement is entered into more than 45 days after receipt by such indemnifying party of the aforesaid request, (ii)&nbsp;such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement
being entered into and (iii)&nbsp;such indemnifying party shall not have reimbursed such indemnified party in accordance with such request prior to the date of such settlement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 11. <U>Contribution</U>. If the indemnification provided for in Section&nbsp;10 hereof is for any reason unavailable to or
insufficient to hold harmless an indemnified party in respect of any losses, liabilities, claims, damages or expenses referred to therein, then each indemnifying party shall contribute to the aggregate amount of such losses, liabilities, claims,
damages and expenses incurred by such indemnified party, as incurred, (i)&nbsp;in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and SunTrust on the other hand from the offering of the
Securities pursuant to this Agreement or (ii)&nbsp;if the allocation provided by clause (i)&nbsp;is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i)&nbsp;above
but also the relative fault of the Company on the one hand and of SunTrust on the other hand in connection with the statements or omissions. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The relative benefits received by the Company on the one hand and SunTrust on the other hand in connection with the offering of the Securities
pursuant to this Agreement shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Securities pursuant to this Agreement (before deducting expenses) received by the Company and the total
commissions received by SunTrust, in each case as set forth on the cover of the Prospectus, bear to the aggregate public offering price of the Securities as set forth on such cover. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The relative fault of the Company on the one hand and SunTrust on the other hand shall be determined by reference to, among other things,
whether the untrue or the alleged untrue statement of a material fact or omission or alleged omission to state a material fact relates to information supplied by the Company or by SunTrust and the parties&#146; relative intent, knowledge, access to
information and opportunity to correct or prevent such statement or omission. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company and SunTrust agree that it would not be just
and equitable if contribution pursuant to this Section&nbsp;11 were determined by pro rata allocation or by any other method of allocation which does not take account of the equitable considerations referred to above in this Section&nbsp;11. The
aggregate amount of losses, liabilities, claims, damages and expenses incurred </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">30 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
by an indemnified party and referred to above in this Section&nbsp;11 shall be deemed to include any legal or other expenses reasonably incurred by such indemnified party in investigating,
preparing or defending against any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or any claim whatsoever based upon any such untrue or alleged untrue statement or omission or alleged
omission. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Notwithstanding the provisions of this Section&nbsp;11, SunTrust shall not be required to contribute any amount in excess of
the amount by which the total price at which the Securities underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages which SunTrust has otherwise been required to pay by reason of any such untrue
or alleged untrue statement or omission or alleged omission. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">No person guilty of fraudulent misrepresentation (within the meaning of
Section&nbsp;11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">For purposes of this Section&nbsp;11, each person, if any, who controls SunTrust within the meaning of Section&nbsp;15 of the Securities Act
or Section&nbsp;20 of the Exchange Act shall have the same rights to contribution as SunTrust, and each trustee of the Company, each officer of the Company who signed the Registration Statement, and each person, if any, who controls the Company
within the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act shall have the same rights to contribution as the Company. The Alternative Placement Agents&#146; respective obligations to contribute pursuant to
this Section&nbsp;11 are several in proportion to the number of Securities placed or underwritten by it in the applicable offering.<U> </U> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 12. <U>Representations, Warranties and Agreements to Survive Delivery</U>. All representations, warranties and agreements contained in
this Agreement or in certificates of officers of the Company or any of its subsidiaries submitted pursuant hereto, shall remain operative and in full force and effect, regardless of any investigation made by or on behalf of SunTrust or controlling
person, or by or on behalf of the Company, and shall survive delivery of the Securities to SunTrust. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 13. <U>Termination of
Agreement</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <I>Termination; General</I>. SunTrust may terminate this Agreement, by notice to the Company, as hereinafter specified
at any time (i)&nbsp;if there has been, since the time of execution of this Agreement or since the date as of which information is given in the Prospectus, any material adverse change in the condition, financial or otherwise, or in the results of
operations, business affairs or business prospects of the Company and its subsidiaries considered as one enterprise, whether or not arising in the ordinary course of business, or (ii)&nbsp;if there has occurred any material adverse change in the
financial markets in the United States or the international financial markets, any outbreak of hostilities or escalation thereof or other calamity or crisis or any change or development involving a prospective change in national or international
political, financial or economic conditions, in each case the effect of which is such as to make it, in the judgment of SunTrust, impracticable or inadvisable to market the Securities or to enforce contracts for the sale of the Securities, or
(iii)&nbsp;if trading in the Placement Securities has been suspended or limited </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">31 </P>


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by the Commission or the NYSE, or if trading generally on the NYSE American, the NYSE or the Nasdaq Stock Market has been suspended or limited, or minimum or maximum prices for trading have been
fixed, or maximum ranges for prices have been required, by any of said exchanges or by order of the Commission, the FINRA or any other governmental authority, or a material disruption has occurred in commercial banking or securities settlement or
clearance services in the United States or in Europe, or (iv)&nbsp;if a banking moratorium has been declared by either Federal or New York authorities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <I>Termination by the Company</I>. The Company shall have the right, by giving three (3)&nbsp;days&#146; notice as hereinafter specified
to terminate this Agreement in their sole discretion at any time after the date of this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <I>Termination by SunTrust</I>.
SunTrust shall have the right, by giving three (3)&nbsp;days&#146; notice as hereinafter specified to terminate this Agreement in its sole discretion at any time after the date of this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <I>Automatic Termination</I>. Unless earlier terminated pursuant to this Section&nbsp;13, this Agreement shall automatically terminate
upon the issuance and sale of all of the Placement Securities through SunTrust and the Alternative Placement Agents on the terms and subject to the conditions set forth herein and in the Alternative Equity Distribution Agreements with an aggregate
sale price equal to the amount set forth in Section&nbsp;1 of this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) <I>Continued Force and Effect</I>. This Agreement shall
remain in full force and effect unless terminated pursuant to Sections&nbsp;13(a), (b), (c) or (d)&nbsp;above or otherwise by mutual agreement of the parties. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) <I>Effectiveness of Termination</I>. Any termination of this Agreement shall be effective on the date specified in such notice of
termination; <I>provided</I>, <I>however</I>, that such termination shall not be effective until the close of business on the date of receipt of such notice by SunTrust or the Company, as the case may be. If such termination shall occur prior to the
Settlement Date for any sale of Placement Securities, such Placement Securities shall settle in accordance with the provisions of this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) <I>Liabilities</I>. If this Agreement is terminated pursuant to this Section&nbsp;13, such termination shall be without liability of any
party to any other party except as provided in Section&nbsp;8 hereof, and except that, in the case of any termination of this Agreement, Section&nbsp;5, Section&nbsp;10, Section&nbsp;11, Section&nbsp;12, and Section&nbsp;22 hereof shall survive such
termination and remain in full force and effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 14. <U>Notices</U>. Except as otherwise provided in this Agreement, all notices
and other communications hereunder shall be in writing and shall be deemed to have been duly given if mailed or transmitted by any standard form of telecommunication. Notices to SunTrust shall be directed to SunTrust at SunTrust Robinson Humphrey,
Inc., 3333 Peachtree Road NE, 11th Floor, Atlanta, Georgia 30326, Attention: Equity Capital Markets (fax no.: (404) <FONT STYLE="white-space:nowrap">926-5872);</FONT> notices to the Company shall be directed to it at 1775 Eye Street NW, Suite 1000,
Washington, D.C. 20006, fax no. (212) <FONT STYLE="white-space:nowrap">379-3554,</FONT> Attention of Stephen E. Riffee, Chief Financial Officer, cc: Taryn D. Fielder, General Counsel. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">32 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 15. <U>Parties</U>. This Agreement shall inure to the benefit of and be binding upon
SunTrust, the Company and their respective successors. Nothing expressed or mentioned in this Agreement is intended or shall be construed to give any person, firm or corporation, other than SunTrust, the Company and their respective successors and
the controlling persons and officers and trustees referred to in Sections&nbsp;10 and 11 and their heirs and legal representatives, any legal or equitable right, remedy or claim under or in respect of this Agreement or any provision herein
contained. This Agreement and all conditions and provisions hereof are intended to be for the sole and exclusive benefit of SunTrust, the Company and their respective successors, and said controlling persons and officers and trustees and their heirs
and legal representatives, and for the benefit of no other person, firm or corporation. No purchaser of Securities from SunTrust shall be deemed to be a successor by reason merely of such purchase. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 16. <U>Adjustments for Stock Splits</U>. The parties acknowledge and agree that all stock-related numbers contained in this Agreement
shall be adjusted to take into account any stock split, stock dividend or similar event effected with respect to the Securities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION
17. <U>Governing Law; Time and Jurisdiction</U>. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. <B></B>SPECIFIED TIMES OF DAY REFER TO NEW YORK CITY TIME. Any action, suit or proceeding to
enforce any provision of, or based on any matter arising out of or in connection with, this Agreement or the transactions contemplated hereby shall be brought in any federal court located in the Southern District of the State of New York or any New
York state court located in the Borough of Manhattan, and the Company agrees to the exclusive jurisdiction of such courts (and of the appropriate appellate courts therefrom) and each party waives (to the full extent permitted by law) any objection
it may have to the laying of venue of any such suit, action or proceeding in any such court or that any such suit, action or proceeding has been brought in an inconvenient forum. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 18. <U>Effect of Headings</U>. The Section and Exhibit headings herein are for convenience only and shall not affect the construction
hereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 19. <U>Counterparts</U>. This Agreement may be executed in two or more counterparts, each of which shall be deemed an
original, but all of which together shall constitute one and the same instrument. Delivery of an executed Agreement by one party to the other may be made by facsimile or <FONT STYLE="white-space:nowrap">e-mail</FONT> transmission. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 20. <U>Definitions</U>. As used in this Agreement, the following terms have the respective meanings set forth below: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Applicable Time</U>&#148; means the time of each sale of any Securities or any securities pursuant to this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Commission</U>&#148; means the Securities and Exchange Commission. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">33 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>EDGAR</U>&#148; means the Commission&#146;s Electronic Data Gathering, Analysis and
Retrieval system. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Exchange Act</U>&#148; means the Securities Exchange Act of 1934, as amended, and the rules and regulations of
the Commission thereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>FINRA</U>&#148; means the Financial Industry Regulatory Authority, Inc. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>GAAP</U>&#148; means generally accepted accounting principles. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Investment Company Act</U>&#148; means the Investment Company Act of 1940, as amended. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Issuer Free Writing Prospectus</U>&#148; means any &#147;issuer free writing prospectus,&#148; as defined in Rule 433, relating to
the Securities that (i)&nbsp;is required to be filed with the Commission by the Company, (ii)&nbsp;is a &#147;road show&#148; that is a &#147;written communication&#148; within the meaning of Rule 433(d)(8)(i) whether or not required to be filed
with the Commission, or (iii)&nbsp;is exempt from filing pursuant to Rule 433(d)(5)(i) because it contains a description of the Securities or of the offering that does not reflect the final terms, and all free writing prospectuses that are listed in
<U>Exhibit G</U> hereto, in each case in the form furnished (electronically or otherwise) to SunTrust for use in connection with the offering of the Securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>NYSE</U>&#148; means the New York Stock Exchange. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Rule 163</U>,&#148; &#147;<U>Rule 164</U>,&#148; &#147;<U>Rule 172</U>,&#148; &#147;<U>Rule 405</U>,&#148; &#147;<U>Rule
415</U>,&#148; &#147;<U>Rule 424(b)</U>,&#148; &#147;<U>Rule 430B</U>,&#148; &#147;<U>Rule 433</U>&#148; and &#147;<U>Rule 462(b)</U>&#148; refer to such rules under the Securities Act. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Rule 462(b) Registration Statement</U>&#148; means a registration statement filed by the Company pursuant to Rule 462(b) for the
purpose of registering any of the Securities under the Securities Act, including the documents incorporated by reference therein and the Rule 430A Information. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Sarbanes-Oxley Act</U>&#148; means the Sarbanes-Oxley Act of 2002 and the rules and regulations promulgated thereunder or
implementing the provisions thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Securities Act</U>&#148; means the Securities Act of 1933, as amended, and the rules and
regulations of the Commission thereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">All references in this Agreement to financial statements and schedules and other information
that is &#147;contained,&#148; &#147;included&#148; or &#147;stated&#148; in the Registration Statement or the Prospectus (and all other references of like import) shall be deemed to mean and include all such financial statements and schedules and
other information that is incorporated by reference in the Registration Statement or the Prospectus, as the case may be. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">All references
in this Agreement to the Registration Statement, any Rule 462(b) Registration Statement, the Prospectus or any amendment or supplement to any of the foregoing shall be deemed to include the copy filed with the Commission pursuant to EDGAR; all
references in this Agreement to any Issuer Free Writing Prospectus (other than any Issuer Free Writing Prospectuses that, pursuant to Rule 433, are not required to be filed with the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">34 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Commission) shall be deemed to include the copy thereof filed with the Commission pursuant to EDGAR; and all references in this Agreement to &#147;supplements&#148; to the Prospectus shall
include, without limitation, any supplements, &#147;wrappers&#148; or similar materials prepared in connection with any offering, sale or private placement of any Placement Securities by SunTrust outside of the United States. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 21. <U>Permitted Free Writing Prospectuses</U>. The Company represents, warrants and agrees that, unless it obtains the prior consent
of SunTrust, and SunTrust represents, warrants and agrees that, unless it obtains the prior consent of the Company, it has not made and will not make any offer relating to the Securities that would constitute an Issuer Free Writing Prospectus, or
that would otherwise constitute a &#147;free writing prospectus,&#148; as defined in Rule 405, required to be filed with the Commission. Any such free writing prospectus consented to by SunTrust or by the Company, as the case may be, is hereinafter
referred to as a &#147;Permitted Free Writing Prospectus.&#148; The Company represents and warrants that it has treated and agrees that it will treat each Permitted Free Writing Prospectus as an &#147;issuer free writing prospectus,&#148; as defined
in Rule 433, and has complied and will comply with the requirements of Rule 433 applicable to any Permitted Free Writing Prospectus, including timely filing with the Commission where required, legending and record keeping. For the purposes of
clarity, the parties hereto agree that all free writing prospectuses, if any, listed in <U>Exhibit G</U> hereto are Permitted Free Writing Prospectuses. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 22. <U>Absence of Fiduciary Relationship</U>. The Company acknowledges and agrees that: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) SunTrust is acting solely as agent and/or principal in connection with the public offering of the Securities and in connection with each
transaction contemplated by this Agreement and the process leading to such transactions, and no fiduciary or advisory relationship between the Company or any of its respective affiliates, stockholders (or other equity holders), creditors or
employees or any other party, on the one hand, and SunTrust, on the other hand, has been or will be created in respect of any of the transactions contemplated by this Agreement, irrespective of whether or not SunTrust has advised or is advising the
Company on other matters, and SunTrust has no obligation to the Company with respect to the transactions contemplated by this Agreement except the obligations expressly set forth in this Agreement; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) any public offering price of the Securities set forth in this Agreement was not established by SunTrust; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) it is capable of evaluating and understanding, and understands and accepts, the terms, risks and conditions of the transactions
contemplated by this Agreement; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) SunTrust has not provided any legal, accounting, regulatory or tax advice with respect to the
transactions contemplated by this Agreement and it has consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) it is aware that SunTrust and its respective affiliates are engaged in a broad range of transactions which may involve interests that
differ from those of the Company and SunTrust has no obligation to disclose such interests and transactions to the Company by virtue of any fiduciary, advisory or agency relationship or otherwise; and </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">35 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) it waives, to the fullest extent permitted by law, any claims it may have against SunTrust
for breach of fiduciary duty or alleged breach of fiduciary duty and agrees that SunTrust shall not have any liability (whether direct or indirect, in contract, tort or otherwise) to it in respect of such a fiduciary duty claim or to any person
asserting a fiduciary duty claim on its behalf or in right of it or the Company, employees or creditors of Company. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">36 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If the foregoing is in accordance with your understanding of our agreement, please sign and
return to the Company a counterpart hereof, whereupon this instrument, along with all counterparts, will become a binding agreement between SunTrust and the Company in accordance with its terms. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Very truly yours,</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">WASHINGTON REAL ESTATE</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">INVESTMENT
TRUST</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Stephen E. Riffee</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Name: Stephen E. Riffee</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Title: Executive Vice President and</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; text-indent:2.50em; font-size:10pt; font-family:Times New Roman">Chief Financial Officer</P></TD></TR>
</TABLE></DIV> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">CONFIRMED AND ACCEPTED, as of the </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">date first above written: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="5%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="93%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">SUNTRUST ROBINSON&nbsp;HUMPHREY, INC.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Keith Carpenter</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Authorized Signatory</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Keith Carpenter, Director</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">37 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT A </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>FORM OF PLACEMENT NOTICE </U></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="5%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="16%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="75%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">From:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">[</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">]</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Cc:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">[`</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">]</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">To:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">[</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">]</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Subject: Equity Distribution&#151;Placement Notice </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Gentlemen: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the terms and subject to
the conditions contained in the Equity Distribution Agreement between Washington Real Estate Investment Trust (the &#147;<U>Company</U>&#148;) and SunTrust Robinson&nbsp;Humphrey, Inc. (&#147;<U>SunTrust</U>&#148;) dated May&nbsp;4, 2018 (the
&#147;<U>Agreement</U>&#148;), I hereby request on behalf of the Company that SunTrust sell up to [&#149;] [or $[&#149;] in aggregate offering price of] Common Shares of Beneficial Interest, par value $0.01 per share (the
&#147;<U>Securities</U>&#148;), at a minimum market price of $[&#149;] per share. The Company shall pay SunTrust compensation equal to [&#149;]% of the gross proceeds from the sale of the Securities set forth in this Placement Notice. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>[ADDITIONAL SALES PARAMETERS MAY BE ADDED, SUCH AS THE TIME PERIOD IN WHICH SALES ARE REQUESTED TO BE MADE, SPECIFIC DATES THE SHARES MAY NOT BE SOLD ON,
THE MANNER IN WHICH SALES ARE TO BE MADE BY SUNTRUST, AND/OR THE CAPACITY IN WHICH SUNTRUST MAY ACT IN SELLING SHARES (AS PRINCIPAL, AGENT, OR BOTH)] </B></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A-1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT B </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>AUTHORIZED INDIVIDUALS FOR PLACEMENT NOTICES AND ACCEPTANCES </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>SunTrust Robinson&nbsp;Humphrey, Inc. </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Keith
Carpenter </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email: <U>keith.carpenter@suntrust.com</U> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Geoff
Fennel </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email: <U>geoff.fennel@suntrust.com</U> </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Washington Real Estate Investment Trust </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Stephen
E. Riffee </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email: <U>sriffee@washreit.com</U> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Paul T.
McDermott </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email: <U>pmcdermott@washreit.com</U> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Taryn D.
Fielder </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email: <U>tfielder@washreit.com</U> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">B-1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT C </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>COMPENSATION </U></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SunTrust
shall be paid compensation equal to up to 2.0% of the gross proceeds from the sales of Securities pursuant to the terms of this Agreement. The actual compensation paid to SunTrust shall be set forth in the applicable Placement Notice. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">C-1 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT D </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>SIGNIFICANT SUBSIDIARIES OF THE COMPANY </U></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="35%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="30%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="30%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:20.00pt; display:inline; font-size:8pt; font-family:Times New Roman; "><B>Name</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman"><B>Jurisdiction of</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1.00pt solid #000000; width:49.45pt; display:inline; font-size:8pt; font-family:Times New Roman; "><B>Organization</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:49.30pt; display:inline; font-size:8pt; font-family:Times New Roman; "><B>Type of Entity</B></P></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">WashREIT OP LLC</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Delaware</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Limited Liability Company</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">WashREIT OP Sub DC LLC</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Delaware</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Limited Liability Company</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">D-1 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT E </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>FORM OF OPINIONS OF COMPANY COUNSEL </U></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">E-1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT F </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>OFFICER CERTIFICATE </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The
undersigned [&#149;], the duly qualified and elected [&#149;] of Washington Real Estate Investment Trust (&#147;<U>Company</U>&#148;), a Maryland real estate investment trust, does hereby certify in such capacity and on behalf of the Company,
pursuant to Section&nbsp;7(n) of each of the Equity Distribution Agreements dated May&nbsp;4, 2018 (collectively, the &#147;<U>Agreements</U>&#148;) between the Company and each of Wells Fargo Securities, LLC, BNY Mellon Capital Markets, LLC,
Capital One Securities, Inc., Citigroup Global Markets Inc., Goldman Sachs&nbsp;&amp; Co. LLC, J.P. Morgan Securities LLC, KeyBanc Capital Markets Inc. and SunTrust Robinson Humphrey, Inc. (collectively, the &#147;<U>Agents</U>&#148;) that to the
knowledge of the undersigned: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The representations and warranties of the Company in Section&nbsp;5 of each of the Agreements (A)&nbsp;to
the extent such representations and warranties are subject to qualifications and exceptions contained therein relating to materiality or Material Adverse Effect, are true and correct on and as of the date hereof with the same force and effect as if
expressly made on and as of the date hereof, except for those representations and warranties that speak solely as of a specific date and which were true and correct as of such date, and (B)&nbsp;to the extent such representations and warranties are
not subject to any qualifications or exceptions, are true and correct in all material respects as of the date hereof as if made on and as of the date hereof with the same force and effect as if expressly made on and as of the date hereof except for
those representations and warranties that speak solely as of a specific date and which were true and correct as of such date; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The
Company has complied in all material respects with all agreements and satisfied all conditions on their part to be performed or satisfied pursuant to each of the Agreements at or prior to the date hereof (other than those conditions waived by the
Agents). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-1 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT G </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>ISSUER FREE WRITING PROSPECTUSES </U></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">None </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">G-1 </P>

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<FILENAME>d582540dex51.htm
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 5.1 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Hogan Lovells US LLP</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Columbia Square</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">555 Thirteenth Street, NW</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Washington, DC 20004</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">T +1 202 637 5600</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">F +1 202 637 5910</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">www.hoganlovells.com</P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">May&nbsp;4, 2018 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Board of
Trustees </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Washington Real Estate Investment Trust </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">1775 Eye
Street, NW </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Suite 1000 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Washington, DC 20006 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ladies and Gentlemen: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We are acting as counsel
to Washington Real Estate Investment Trust, a Maryland real estate investment trust (the &#147;<B>Company</B>&#148;), in connection with the public offering of up to $250,000,000 in aggregate value of the Company&#146;s common shares of beneficial
interest, par value $0.01 per share (the &#147;<B>Common Shares</B>&#148;), all of which Common Shares are to be offered and sold by the Company from time to time in accordance with the terms of the Equity Distribution Agreements, dated May&nbsp;4,
2018, between the Company and each of Wells Fargo Securities, LLC, BNY Mellon Capital Markets, LLC, Capital One Securities, Inc., Citigroup Global Markets Inc., Goldman Sachs&nbsp;&amp; Co. LLC, J.P. Morgan Securities LLC, KeyBanc Capital Markets
Inc. and SunTrust Robinson Humphrey, Inc., respectively (each, individually, an &#147;<B>Equity Distribution Agreement</B>&#148; and collectively, the &#147;<B>Equity Distribution Agreements&#148;</B>), and as described in the prospectus supplement
dated May&nbsp;4, 2018 (the &#147;<B>Prospectus Supplement</B>&#148;) and the accompanying prospectus dated April&nbsp;4, 2018 (together with Prospectus Supplement, collectively, the &#147;<B>Prospectus</B>&#148;) that form part of the
Company&#146;s effective registration statement on <FONT STYLE="white-space:nowrap">Form&nbsp;S-3,</FONT> as amended (No. <FONT STYLE="white-space:nowrap">333-224135)</FONT> (the &#147;<B>Registration Statement</B>&#148;). This opinion letter is
furnished to you at your request to enable you to fulfill the requirements of Item&nbsp;601(b)(5)&nbsp;of <FONT STYLE="white-space:nowrap">Regulation&nbsp;S-K,</FONT> 17 C.F.R. &#167; 229.601(b)(5), in connection with the Registration Statement.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">For purposes of this opinion letter, we have examined copies of such agreements, instruments and documents as we have deemed an
appropriate basis on which to render the opinions hereinafter expressed. In our examination of the aforesaid documents, we have assumed the genuineness of all signatures, the legal capacity of all natural persons, the accuracy and completeness of
all documents submitted to us, the authenticity of all original documents, and the conformity to authentic original documents of all documents submitted to us as copies (including pdfs). We also have assumed that the Common Shares will not be issued
in violation of the ownership limit contained in the Company&#146;s Articles of Amendment and Restatement, as amended. As to all matters of fact, we have relied on the representations and statements of fact made in the documents so reviewed, and we
have not independently established the facts so relied on. This opinion letter is given, and all statements herein are made, in the context of the foregoing. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Hogan Lovells US LLP is a limited liability partnership registered in the District of Columbia. &#147;Hogan Lovells&#148; is an international legal practice
that includes Hogan Lovells US LLP and Hogan Lovells International LLP, with offices in: Alicante Amsterdam Baltimore Beijing Birmingham Boston Brussels Colorado&nbsp;Springs Denver Dubai Dusseldorf Frankfurt Hamburg Hanoi
Ho&nbsp;Chi&nbsp;Minh&nbsp;City Hong&nbsp;Kong Houston Johannesburg London Los&nbsp;Angeles Luxembourg Madrid Mexico&nbsp;City Miami Milan Minneapolis Monterrey Moscow Munich New&nbsp;York Northern&nbsp;Virginia Paris Perth Philadelphia
Rio&nbsp;de&nbsp;Janeiro Rome San&nbsp;Francisco S&atilde;o&nbsp;Paulo Shanghai Silicon&nbsp;Valley Singapore Sydney Tokyo Warsaw Washington&nbsp;DC Associated offices: Budapest Jakarta Shanghai FTZ Ulaanbaatar Zagreb. Business Service Centers:
Johannesburg Louisville. For more information see www.hoganlovells.com </P>

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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Board of Trustees</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Washington Real Estate
Investment Trust</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right">May 4, 2018</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This opinion letter is based as to matters of law solely on the applicable provisions of Title 8 of the
Corporations and Associations Article of the Annotated Code of Maryland, as amended, and applicable provisions of the Maryland General Corporation Law, as amended, currently in effect. We express no opinion herein as to any other statutes, rules, or
regulations. For purposes of the opinion set forth below, we have assumed that the Common Shares are issued for a price per share equal to or greater than the minimum price authorized by the Company&#146;s board of trustees prior to the date hereof.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Based upon, subject to and limited by the foregoing, we are of the opinion that following (i)&nbsp;execution and delivery by the Company
of the Equity Distribution Agreements, (ii)&nbsp;authorization by the Company&#146;s Board of Trustees, or authorization by a duly authorized pricing committee thereof, within the limitations established by resolutions duly adopted by the
Company&#146;s Board of Trustees or duly authorized pricing committee thereof and in each case made available to us, of the terms pursuant to which the Common Shares may be sold pursuant to the Equity Distribution Agreements,
(iii)&nbsp;authorization by a duly authorized executive officer, designated by the pricing committee to approve placement notices under the Equity Distribution Agreements, of the terms of each placement notice issued consistent with the foregoing
and pursuant to which the Common Shares may be sold pursuant to the Equity Distribution Agreements, (iv)&nbsp;issuance of the Common Shares pursuant to the terms established by the Board of Trustees and the pricing committee thereof and the terms of
the applicable placement notice, and (v)&nbsp;receipt by the Company of the proceeds for the Common Shares sold pursuant to such terms and such applicable placement notice, the Common Shares will be validly issued, fully paid, and nonassessable.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This opinion letter has been prepared for your use in connection with the filing by the Company of a Current Report on <FONT
STYLE="white-space:nowrap">Form&nbsp;8-K</FONT> relating to the offer and sale of the Common Shares, which <FONT STYLE="white-space:nowrap">Form&nbsp;8-K</FONT> will be incorporated by reference into the Registration Statement and Prospectus, and
speaks as of the date hereof. We assume no obligation to advise of any changes in the foregoing subsequent to the delivery of this letter. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We hereby
consent to the filing of this opinion letter as Exhibit&nbsp;5.1 to the above-described <FONT STYLE="white-space:nowrap">Form&nbsp;8-K</FONT> and to the reference to this firm under the caption &#147;Legal Matters&#148; in the Prospectus Supplement.
In giving this consent, we do not thereby admit that we are an &#147;expert&#148; within the meaning of the Securities Act of 1933, as amended. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TD VALIGN="top">Very truly yours,</TD></TR>
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<TD VALIGN="top">/s/ Hogan Lovells US LLP</TD></TR>
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<TD VALIGN="top">HOGAN LOVELLS US LLP</TD></TR>
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 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>

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