<SEC-DOCUMENT>0001140361-20-009254.txt : 20200420
<SEC-HEADER>0001140361-20-009254.hdr.sgml : 20200420
<ACCEPTANCE-DATETIME>20200420124827
ACCESSION NUMBER:		0001140361-20-009254
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20200420
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20200420
DATE AS OF CHANGE:		20200420

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			RW HOLDINGS NNN REIT, INC.
		CENTRAL INDEX KEY:			0001645873
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				474156046
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-55776
		FILM NUMBER:		20801997

	BUSINESS ADDRESS:	
		STREET 1:		3090 BRISTOL STREET, SUITE 550
		CITY:			COSTA MESA
		STATE:			CA
		ZIP:			92626
		BUSINESS PHONE:		512-499-3626

	MAIL ADDRESS:	
		STREET 1:		3090 BRISTOL STREET, SUITE 550
		CITY:			COSTA MESA
		STATE:			CA
		ZIP:			92626

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Rich Uncles NNN REIT, Inc.
		DATE OF NAME CHANGE:	20151209

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Rich Uncles REIT, Inc.
		DATE OF NAME CHANGE:	20150623

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Rich Uncles Reit, Inc.
		DATE OF NAME CHANGE:	20150622
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>nc10011128x1_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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      <hr style="border: none; border-bottom: 1px solid black; border-top: 4px solid black; height: 10px; color: #ffffff; background-color: #ffffff; margin-left: auto; margin-right: auto;" align="center"><font style="background-color: rgb(255, 255, 255); font-weight: bold; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 14pt; font-style: normal; font-variant: normal; text-transform: none;">UNITED STATES</font></div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 14pt; font-weight: bold; background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;">SECURITIES
      AND EXCHANGE COMMISSION</div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold; background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;">Washington,
      D.C. 20549</div>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 18pt; font-weight: bold; background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;">FORM
      8-K</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">CURRENT REPORT</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">Pursuant to Section 13 or 15(d) of</div>
    <div style="text-align: center; font-weight: bold;">The Securities Exchange Act of 1934</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">Date of Report (Date of earliest event reported): April 20, 2020</div>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 24pt; font-weight: bold; background-color: rgb(255, 255, 255); color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;">RW
      Holdings NNN REIT, Inc.</div>
    <div style="text-align: center; font-weight: bold;">(Exact name of registrant as specified in its charter)</div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z22583612aa584198b8116daf274a49cc" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 35%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-weight: bold;">Maryland</div>
          </td>
          <td style="width: 2%; vertical-align: middle;">&#160;</td>
          <td style="width: 26%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-weight: bold;">000-55776</div>
          </td>
          <td style="width: 2%; vertical-align: middle;">&#160;</td>
          <td style="width: 35%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-weight: bold;">47-4156046</div>
          </td>
        </tr>
        <tr>
          <td style="width: 35%; vertical-align: middle;">
            <div style="text-align: center; font-weight: bold;">(State or other jurisdiction</div>
          </td>
          <td style="width: 2%; vertical-align: middle;">&#160;</td>
          <td style="width: 26%; vertical-align: middle;">
            <div style="text-align: center; font-weight: bold;">(Commission</div>
          </td>
          <td style="width: 2%; vertical-align: middle;">&#160;</td>
          <td style="width: 35%; vertical-align: middle;">
            <div style="text-align: center; font-weight: bold;">(I.R.S. Employer</div>
          </td>
        </tr>
        <tr>
          <td style="width: 35%; vertical-align: middle;">
            <div style="text-align: center; font-weight: bold;">of incorporation)</div>
          </td>
          <td style="width: 2%; vertical-align: middle;">&#160;</td>
          <td style="width: 26%; vertical-align: middle;">
            <div style="text-align: center; font-weight: bold;">File Number)</div>
          </td>
          <td style="width: 2%; vertical-align: middle;">&#160;</td>
          <td style="width: 35%; vertical-align: middle;">
            <div style="text-align: center; font-weight: bold;">Identification No.)</div>
          </td>
        </tr>

    </table>
    <div style="text-align: center;"> <br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z3d468bfb811541d8abe165a07cd0649e" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 35%; vertical-align: middle;">
            <div style="text-align: center; font-weight: bold;">3090 Bristol Street, Suite 550</div>
          </td>
          <td style="width: 30%; vertical-align: middle;">&#160;</td>
          <td style="width: 35%; vertical-align: middle;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 35%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-weight: bold;">Costa Mesa, California</div>
          </td>
          <td style="width: 30%; vertical-align: middle;">&#160;</td>
          <td style="width: 35%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-weight: bold;">92626</div>
          </td>
        </tr>
        <tr>
          <td style="width: 35%; vertical-align: middle;">
            <div style="text-align: center; font-weight: bold;">(Address of principal executive offices)</div>
          </td>
          <td style="width: 30%; vertical-align: middle;">&#160;</td>
          <td style="width: 35%; vertical-align: middle;">
            <div style="text-align: center; font-weight: bold;">(Zip Code)</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">Registrant&#8217;s telephone number, including area code: (855) 742-4862</div>
    <div><br>
    </div>
    <div style="text-align: justify;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the
      following provisions:</div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zdbbc2b37ef9d4fa6bd7255875d8786cb" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">&#9744;</td>
          <td style="width: auto; vertical-align: top;">
            <div>Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z789498ded7f5417ea58f95b18d4ce1ab" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">&#9744;</td>
          <td style="width: auto; vertical-align: top;">
            <div>Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z94c211855b9c42978280fc175e205c61" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">&#9744;</td>
          <td style="width: auto; vertical-align: top;">
            <div>Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zfb9baeb21fb044b1bd5cb41b4650d23e" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">&#9744;</td>
          <td style="width: auto; vertical-align: top;">
            <div>Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify;">&#160;Securities registered pursuant to Section 12(b) of the Act:</div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z679fdd0b4bea4011a9b4c50f173e2bf9" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 28.12%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-weight: bold;">Title of each class</div>
          </td>
          <td style="width: 2.08%; vertical-align: bottom;">&#160;</td>
          <td style="width: 23.8%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-weight: bold;">Trading Symbol(s)</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">&#160;</td>
          <td style="width: 45%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-weight: bold;">Name of each exchange on which registered</div>
          </td>
        </tr>
        <tr>
          <td style="width: 28.12%; vertical-align: top; border-top: #000000 2px solid;">
            <div style="text-align: center;">None</div>
          </td>
          <td style="width: 2.08%; vertical-align: bottom;">&#160;</td>
          <td style="width: 23.8%; vertical-align: bottom; border-top: #000000 2px solid;">
            <div style="text-align: center;">None</div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">&#160;</td>
          <td style="width: 45%; vertical-align: bottom; border-top: #000000 2px solid;">
            <div style="text-align: center;">None</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter)
      or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</div>
    <div><br>
    </div>
    <div>Emerging growth company &#9746;</div>
    <div><br>
    </div>
    <div style="text-align: justify;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or
      revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. &#9746;</div>
    <div style="text-align: justify;">
      <hr style="border: none; border-bottom: 4px solid black; border-top: 1px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;" align="center"> </div>
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    </div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z135dc10495b04bc3a42a62709f3915c3" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 72pt; vertical-align: top; align: right; font-weight: bold;">Item 8.01</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-weight: bold;">Other Events.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="color: #000000; font-weight: bold;">Amended and Restated Share Repurchase Programs</div>
    <div><br>
    </div>
    <div style="text-indent: 24.5pt;"><font style="color: #000000;">RW Holdings NNN REIT, Inc. (the &#8220;Company&#8221;)
        maintains share repurchase programs (the &#8220;SRPs&#8221;) to provide limited liquidity to holders of shares of the Company&#8217;s Class C and Class S common stock.&#160; Notwithstanding these SRPs, </font><font style="background-color: #FFFFFF; color: #222222;">real estate programs, such as the Company, represent an illiquid asset class and there is no guarantee that liquidity will be available, particularly over the short term.</font></div>
    <div><br>
    </div>
    <div style="text-indent: 24.5pt;"><font style="color: #000000;">On April 20, 2020, the Company&#8217;s board of
        directors approved amended and restated SRPs for shares of its Class C and Class S common stock.&#160; </font>The principal change reflected in the amended and restated SRPs is as follows:</div>
    <div><br>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z35086769067444119f32729918c22b48" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 72pt; vertical-align: top; align: right;">
              <div style="margin-left: 36pt; color: #000000;">&#8226;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div><font style="font-style: italic;">Procedures for Repurchase</font> were amended to
                provide the Company <font style="color: #000000;">the discretion, but not the obligation, under extraordinary market or economic circumstances, to make a special repurchase in
                  equal, nominal quantities of shares from all stockholders who have submitted share repurchase requests during the period (&#8220;Extraordinary Circumstance Repurchase&#8221;). Extraordinary Circumstance Repurchases will precede any pro rata share
                  repurchases that may be made during the period.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="text-indent: 24.5pt;">No other provisions of the SRPs were materially changed.&#160; The amended and restated SRPs will become effective on April 30, 2020.</div>
    <div><br>
    </div>
    <div style="text-indent: 24.5pt;">The material terms of the amended and restated SRPs are qualified in their entirety by the amended and restated SRPs attached as Exhibits
      4.1 and 4.2 to this Current Report on Form 8-K and incorporated herein by reference.</div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zfb710c044b624b0080463e1ae6017c3a" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 72pt; vertical-align: top; align: right; color: #000000; font-weight: bold;">Item 9.01</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="color: #000000; font-weight: bold;">Financial Statements and Exhibits.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify;"><font style="color: #000000;">(d)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000;">Exhibits.</font></div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z3338863b8dcb470b8c0320375055691a" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 15.73%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">Exhibit No.</div>
          </td>
          <td style="width: 2.02%; vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td style="width: 82.26%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="font-weight: bold;">Description</div>
          </td>
        </tr>
        <tr>
          <td style="width: 15.73%; vertical-align: bottom;">&#160;</td>
          <td style="width: 2.02%; vertical-align: bottom;">&#160;</td>
          <td style="width: 82.26%; vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 15.73%; vertical-align: bottom;">
            <div style="text-align: center;"><a href="nc10011128x1_ex4-1.htm">4.1</a></div>
          </td>
          <td style="width: 2.02%; vertical-align: bottom;">&#160;</td>
          <td style="width: 82.26%; vertical-align: bottom;">
            <div style="color: #000000;">Amended and Restated Share Repurchase Program (Class C Common Stock)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 15.73%; vertical-align: bottom;">&#160;</td>
          <td style="width: 2.02%; vertical-align: bottom;">&#160;</td>
          <td style="width: 82.26%; vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 15.73%; vertical-align: bottom;">
            <div style="text-align: center;"><a href="nc10011128x1_ex4-2.htm">4.2</a></div>
          </td>
          <td style="width: 2.02%; vertical-align: bottom;">&#160;</td>
          <td style="width: 82.26%; vertical-align: bottom;">
            <div style="color: #000000;">Amended and Restated Share Repurchase Program (Class S Common Stock)</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
    </div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">SIGNATURE</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 27pt;">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.</div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z8595cdf2355948579e064da81248a239" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 49.19%; vertical-align: top;">&#160;</td>
          <td colspan="3" style="width: 50.81%; vertical-align: middle;">
            <div>RW HOLDINGS NNN REIT, INC.</div>
            <div style="font-style: italic;">(Registrant)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 49.19%; vertical-align: top;">&#160;</td>
          <td colspan="3" style="width: 50.81%; vertical-align: middle;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 49.19%; vertical-align: middle;">&#160;</td>
          <td style="width: 2.68%; vertical-align: top;">
            <div>By:</div>
          </td>
          <td colspan="2" style="width: 48.14%; vertical-align: middle; border-bottom: #000000 2px solid;">
            <div>/s/ Raymond J. Pacini</div>
          </td>
        </tr>
        <tr>
          <td style="width: 49.19%; vertical-align: middle;">&#160;</td>
          <td style="width: 2.68%; vertical-align: middle;">&#160;</td>
          <td style="width: 4.94%; vertical-align: top;">
            <div>Name:</div>
          </td>
          <td style="width: 43.19%; vertical-align: middle;">
            <div>Raymond J. Pacini</div>
          </td>
        </tr>
        <tr>
          <td style="width: 49.19%; vertical-align: middle;">&#160;</td>
          <td style="width: 2.68%; vertical-align: middle;">&#160;</td>
          <td style="width: 4.94%; vertical-align: top;">
            <div>Title:</div>
          </td>
          <td style="width: 43.19%; vertical-align: middle;">
            <div>Chief Financial Officer</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div>Date: April 20, 2020</div>
    <div> <br>
    </div>
    <div>
      <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"> </div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.1
<SEQUENCE>2
<FILENAME>nc10011128x1_ex4-1.htm
<DESCRIPTION>EXHIBIT 4.1
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Broadridge Financial Soultions, Inc.
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  <div>
    <div style="text-align: right; font-weight: bold;">
      <hr style="height: 4px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"><u>Exhibit 4.1</u></div>
    <div><br>
    </div>
    <div style="text-align: center; text-indent: -18pt; margin-left: 18pt; font-weight: bold;">Amended and Restated Share Repurchase Program (Class C Common Stock)</div>
    <div style="text-align: center; font-weight: bold;">Effective April 30, 2020</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">The shares of Class C common stock (the &#8220;Shares&#8221;) of RW Holdings NNN REIT, Inc. (the &#8220;Corporation&#8221; or &#8220;our&#8221; or &#8220;we&#8221;) are currently not
      listed on a national securities exchange or included for quotation on a national securities market, and currently there is no intention to list the Shares. In order to provide the Corporation&#8217;s stockholders with some liquidity, this Share Repurchase
      Program (the &#8220;Program&#8221;) has been adopted to enable stockholders to sell their Shares to the Corporation in limited circumstances. Stockholders may present for repurchase all or a portion of their Shares to the Corporation in accordance with the
      procedures outlined in this Program. Shares must be held for 90 days after they have been issued to the applicable stockholder before the Corporation will accept requests for repurchase, except for Shares acquired pursuant to the Corporation&#8217;s
      distribution reinvestment plan or automatic investment program if the applicable stockholder has held their initial investment for at least 90 days. Upon such presentation, the Corporation may, subject to the conditions and limitations described
      below, repurchase the Shares presented for cash to the extent there are sufficient funds available for the repurchase.</div>
    <div><br>
    </div>
    <div style="text-indent: 18pt; font-weight: bold;">Repurchase Price</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">The prices at which Shares will be repurchased are as follows:</div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zd0c2410ec4a542368ec8ff3adf444f32" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">&#8226;</td>
          <td style="width: auto; vertical-align: top;">
            <div>For those Shares held by the stockholder for less than one year, 97% of the most recently published net asset value (&#8220;NAV&#8220;) per Share;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z22e4e775ef39435b85c7ece6f292a183" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">&#8226;</td>
          <td style="width: auto; vertical-align: top;">
            <div>For those Shares held by the stockholder for at least one year but less than two years, 98% of the most recently published NAV per Share;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zf0fe45d9b976462da63034a86bf3b686" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">&#8226;</td>
          <td style="width: auto; vertical-align: top;">
            <div>For those Shares held by the stockholder for at least two years but less than three years, 99% of the most recently published NAV per Share; and</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zbdb792871f084bbb9401a2e108ee824b" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">&#8226;</td>
          <td style="width: auto; vertical-align: top;">
            <div>For those Shares held by the stockholders for at least three years, 100% of the most recently published NAV per Share.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-indent: 36pt; font-style: italic; font-weight: bold;">However, at any time we are engaged in an offering of shares, the price at which we will repurchase
      shares will never be greater than the applicable per-share offering price.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">For purposes of determining the time period a stockholder has held each Share, the time period begins as of the date the stockholder
      acquired the Share. As described above, the Shares owned by a stockholder may be repurchased at different prices depending on how long the stockholder has held each Share submitted for repurchase, provided the stockholder has held the Shares for at
      least 90 days (other than Shares acquired pursuant to the Corporation&#8217;s distribution reinvestment plan or automatic investment program if the applicable stockholder has held their initial investment for at least 90 days).&#160; Shares acquired pursuant to
      the distribution reinvestment plan will be repurchased for 100% of the most recently published NAV per share.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">Further, in extraordinary circumstances, if the 90-day holding requirement described above would place an undue hardship on a stockholder,
      the Company may, in its sole discretion, make exceptions to the 90-day holding requirement.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">The NAV and NAV per Share generally will be determined annually in the first quarter of each year as of December 31 of the prior year. In
      addition, the NAV may be updated at any time between annual calculations of NAV to reflect significant events that have been determined to have had a material impact on NAV.</div>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
    </div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">NAV per Share will be published as follows:</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;in a
        Current Report on Form 8-K or in our annual or quarterly reports, all publicly filed with the U.S. Securities and Exchange Commission (the &#8220;SEC&#8221;), or</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;in a
        separate written notice to the stockholders; and</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;during
        any primary offering stage, the NAV information will be set forth in a prospectus supplement or post-effective amendment, as required under federal securities laws; and</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;information
        about the NAV per Share will be posted on the Corporation&#8217;s website (such information may be provided by means of a link to our public filings on the SEC&#8217;s website, www.sec.gov) and on the Corporation&#8217;s toll-free information line: (1-855-742-4862).</div>
    <div><br>
    </div>
    <div style="text-indent: 18pt; font-weight: bold;">Limitations on Repurchase</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">The Corporation may, but is not required to, use available cash not otherwise dedicated to a particular use to pay the repurchase price,
      including cash proceeds generated from the distribution reinvestment plan, securities offerings, operating cash flow not intended for distributions, borrowings, and capital transactions such as asset sales or refinancings. The Corporation cannot
      guarantee that it will have sufficient available cash to accommodate all or any repurchase requests made in any given month.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">In addition, the Corporation may not repurchase shares in an amount that would violate the restrictions on distributions under Maryland
      law, which prohibits distributions that would cause a corporation to fail to meet statutory tests of solvency.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">The Program will be subject to the following additional limitations on the number of Shares that may be repurchased:</div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z6bd156a715bc4e3ba899864a6154e273" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">&#8226;</td>
          <td style="width: auto; vertical-align: top;">
            <div>Repurchases per month will be limited to no more than 2% of our most recently determined aggregate NAV, and for any calendar quarter will be limited to no more than 5%
              of the most recently determined aggregate NAV, which means the Corporation will be permitted to repurchase Shares with a value of up to an aggregate limit of approximately 20% of aggregate NAV in any 12-month period.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb2f58e837dd5450cb04a2f3f384e6190" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">&#8226;</td>
          <td style="width: auto; vertical-align: top;">
            <div>The foregoing repurchase limitations will be based on &#8220;net repurchases&#8221; during a quarter or month, as applicable. The term &#8220;net repurchases&#8221; means the excess of Share
              repurchases (capital outflows) over the proceeds from the sale of Shares (capital inflows) for a given period. Thus, for any given calendar quarter or month, the maximum amount of repurchases during that quarter or month will be equal to (1)
              5% or 2% (as applicable) of the most recently determined aggregate NAV, plus (2) proceeds from sales of new Shares in the current offering (including purchases pursuant to our distribution reinvestment plan) since the beginning of a current
              calendar quarter or month, less (3) repurchase proceeds paid since the beginning of the current calendar quarter or month.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="ze23a80938f374949b898741e07f73b64" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">&#8226;</td>
          <td style="width: auto; vertical-align: top;">
            <div>Alternatively, the Corporation&#8217;s board of directors (the &#8220;Board&#8221;) may choose whether the 5% quarterly limit will be applied to &#8220;gross repurchases,&#8221; meaning that amounts
              paid to repurchase Shares would not be netted against capital inflows. If repurchases for a given quarter are measured on a gross basis rather than on a net basis, the 5% quarterly limit could limit the amount of Shares redeemed in a given
              quarter despite the Corporation receiving a net capital inflow for that quarter.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb282cbff7ee94225bbc88d9466e009cd" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right;">&#8226;</td>
          <td style="width: auto; vertical-align: top;">
            <div>In order for the Board to change the basis of repurchases from net to gross, or vice versa, the Corporation will provide notice to stockholders (i) in a prospectus
              supplement or current or periodic report filed with the SEC; and (ii) in a press release or on our website, at least ten (10) days before the first business day of the quarter for which the new test will apply. The determination to measure
              repurchases on a gross basis, or vice versa, will only be made for an entire quarter, and not particular months within a quarter.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
    </div>
    <div><br>
    </div>
    <div style="text-indent: 18pt; font-style: italic; font-weight: bold;">Procedures for Repurchase</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">Qualifying stockholders who desire to have their Shares repurchased must give notice as provided on their personal on-line dashboard at <u>www.RichUncles.com</u>. All requests for repurchase must be received by the Corporation at least two (2) business days prior to the end of a month in order for the
      redemption request to be considered in the following month. Shares repurchase requests may be withdrawn, provided they are received by the Corporation at least two (2) business days prior to the end of a month. Approved repurchase requests will be
      processed by the third business day after the end of a month in which a request for repurchase was received and not withdrawn.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">If, as a result of a request for repurchase, a stockholder will own Shares having a value of less than $500 (based on the Corporation&#8217;s
      most-recently published offering price per Share), the Corporation reserves the right to repurchase all of the Shares owned by such stockholder.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;"><font style="color: #000000;">As noted above, </font>the Corporation <font style="color: #000000;">may use cash not otherwise dedicated to a particular use to fund repurchases under the Program. However, </font>the Corporation<font style="color: #000000;"> has the discretion to repurchase fewer shares than have been requested to be repurchased in a particular month or quarter, or to repurchase no shares at all, in the event that </font>the
      Corporation <font style="color: #000000;">lacks readily available funds to do so due to market conditions beyond its control, the need to maintain liquidity for its operations or because
      </font>the Corporation<font style="color: #000000;"> determines that investing in real property or other illiquid investments is a better use of its capital than repurchasing </font>S<font style="color: #000000;">hares. Any determination to repurchase fewer shares than have been requested to be repurchased, or to repurchase no shares at all, may be made immediately prior
        to the applicable date of repurchase.</font></div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">In the event that some but not all of the Shares submitted are repurchased in a given period, Shares submitted for repurchase during such
      period will be repurchased on a pro rata basis, subject to any Extraordinary Circumstance Repurchase (defined below). If, in each of the first two (2) months of a quarter, the 2% monthly repurchase limit is reached and repurchases are reduced pro
      rata for such months, then in the third and final month of that quarter, the applicable limit for such month will be less than 2% of NAV because repurchases for that month, combined with repurchases for the two previous months, cannot exceed 5% of
      aggregate NAV.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; color: #000000;">The Corporation has the discretion, but not the obligation, under extraordinary market or economic circumstances, to make a
      special repurchase in equal, nominal quantities of shares from all stockholders who have submitted share repurchase requests during the period (&#8220;Extraordinary Circumstance Repurchase&#8221;). Extraordinary Circumstance Repurchases will precede any pro rata
      share repurchases that may be made during the period.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">All unsatisfied repurchase requests must be resubmitted at the start of the next month or quarter, or upon the recommencement of the
      Program (in the event of its suspension), as applicable, to be eligible for repurchase in a later month.<font style="color: #000000;"> Within three business days after a stockholder
        repurchase requests becomes fully or partially unsatisfied, the Corporation will notify the stockholder by email that the unsatisfied portion of the request must be resubmitted.</font></div>
    <div><br>
    </div>
    <div style="text-indent: 18pt; font-style: italic; font-weight: bold;">Amendment, Suspension or Termination of Program and Notice</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">The Board may amend, suspend or terminate the Program without stockholder approval upon 10 days&#8217; notice, if the Board believes such action
      is in the best interests of stockholders and the Corporation, including because Share repurchases place an undue burden on our liquidity, adversely affect our operations, adversely affect stockholders whose Shares are not repurchased, or if the Board
      determines that the funds otherwise available to fund our Share repurchases are needed for other purposes. In addition, the Board may amend, suspend or terminate the Program for any reason, including due to changes in law or regulation, or if the
      Board becomes aware of undisclosed material information that it believes should be publicly disclosed before Shares are repurchased. Material modifications, including any reduction to the monthly or quarterly limitations on repurchases, and
      suspensions of the Program, will be promptly disclosed (i) in a prospectus supplement (or post-effective amendment), or (ii) in a current or periodic report filed with SEC; and (iii) on the Corporation&#8217;s website.</div>
    <div><br>
    </div>
    <div>
      <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
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<DOCUMENT>
<TYPE>EX-4.2
<SEQUENCE>3
<FILENAME>nc10011128x1_ex4-2.htm
<DESCRIPTION>EXHIBIT 4.2
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Broadridge Financial Soultions, Inc.
         Document created using EDGARfilings PROfile 7.0.0.0
         Copyright 1995 - 2020 Broadridge -->
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<body style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;" bgcolor="#ffffff">
  <div>
    <div style="text-align: right; text-indent: -18pt; margin-left: 18pt; color: #000000; font-weight: bold;">
      <hr style="height: 4px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"><u>Exhibit 4.2</u></div>
    <div><br>
    </div>
    <div style="text-align: center; text-indent: -18pt; margin-left: 18pt; color: #000000; font-weight: bold;">Amended and Restated Share Repurchase Program (Class S Common Stock)</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">Effective April 30, 2020</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; color: #000000;">The shares of Class S common stock (the &#8220;Shares&#8221;) of RW Holdings NNN REIT, Inc. (the &#8220;Corporation&#8221; or &#8220;our&#8221; or &#8220;we&#8221;) are
      currently not listed on a national securities exchange or included for quotation on a national securities market, and currently there is no intention to list the Shares. In order to provide the Corporation&#8217;s stockholders with some liquidity, this
      Share Repurchase Program (the &#8220;Program&#8221;) has been adopted to enable stockholders to sell their Shares to the Corporation in limited circumstances. Stockholders may present for repurchase all or a portion of their Shares to the Corporation in
      accordance with the procedures outlined in this Program.&#160; Upon such presentation, the Corporation may, subject to the conditions and limitations described below, repurchase the Shares presented for cash to the extent there are sufficient funds
      available for the repurchase.</div>
    <div><br>
    </div>
    <div style="text-indent: 18pt; color: #000000; font-weight: bold;">Repurchase Price</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; color: #000000;">Provided the Shares have been held by the stockholder for at least one year, the Shares will be repurchased at a price
      equal to 100% of the most recently published NAV per Share.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; color: #000000; font-style: italic; font-weight: bold;">However, at any time we are engaged in an offering of shares, the price at which we
      will repurchase shares will never be greater than the applicable per-share offering price.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; color: #000000;">For purposes of determining the time period a stockholder has held each Share, the time period begins as of the date the
      stockholder acquired the Share.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; color: #000000;">The NAV and NAV per Share generally will be determined annually in the first quarter of each year as of December 31 of the
      prior year. In addition, the NAV may be updated at any time between annual calculations of NAV to reflect significant events that have been determined have had a material impact on NAV.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; color: #000000;">NAV per Share will be published as follows:</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt; color: #000000;">(a)&#160; &#160; &#160;&#160; in a Current Report on Form 8-K or in our annual or quarterly reports, all publicly filed with
      the U.S. Securities and Exchange Commission (&#8220;SEC&#8221;), or</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt; color: #000000;">(b)&#160; &#160; &#160;&#160; in a supplement to the Offering Memorandum for the offering of the Shares; and</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt; color: #000000;">(c)&#160; &#160; &#160;&#160; in a separate written notice to the stockholders; and</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 36pt; color: #000000;">(d)&#160; &#160; &#160;&#160; information about the NAV per Share will be posted on the Corporation&#8217;s website (such
      information may be provided by means of a link to our public filings on the SEC&#8217;s website, www.sec.gov) and on the Corporation&#8217;s toll-free information line: (1-855-742-4862).</div>
    <div><br>
    </div>
    <div style="text-indent: 18pt; color: #000000; font-weight: bold;">Limitations on Repurchase</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;"><font style="color: #000000;">The Corporation may, but is not required to,
        use available cash not otherwise dedicated to a particular use to pay the repurchase price, including cash proceeds generated from the distribution reinvestment plan, securities offerings, operating cash flow not intended for distributions,
        borrowings and capital transactions, such as asset sales or refinancings. </font>The Corporation cannot guarantee that it will have sufficient available cash to accommodate all or any repurchase requests made in any given month.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; color: #000000;">In addition, the Corporation may not repurchase shares in an amount that would violate the restrictions on distributions
      under Maryland law, which prohibits distributions that would cause a corporation to fail to meet statutory tests of solvency.</div>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
    </div>
    <div><br>
    </div>
    <div>&#160;</div>
    <div style="text-indent: 36pt; color: #000000;">Additional limitations on Share repurchases under the Program are as follows:</div>
    <div><br>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z0ddde8c000cd48d8a19da9f985cf2084" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 72pt; vertical-align: top; align: right;">
              <div style="margin-left: 36pt;">&#8226;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div>Repurchases per month will be limited to no more than 2% of our most recently determined aggregate NAV, and for any calendar quarter will be limited
                to no more than 5% of the most recently determined aggregate NAV, which means the Corporation will be permitted to repurchase Shares with a value of up to an aggregate limit of approximately 20% of aggregate NAV in any 12-month period.</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zc36f3177d89647099c9adae9d044855a" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 72pt; vertical-align: top; align: right;">
              <div style="margin-left: 36pt;">&#8226;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div>The foregoing repurchase limitations will be based on &#8220;net repurchases&#8221; during a quarter or month, as applicable. The term &#8220;net repurchases&#8221; means
                the excess of Share repurchases (capital outflows) over the proceeds from the sale of Shares (capital inflows) for a given period. Thus, for any given calendar quarter or month, the maximum amount of repurchases during that quarter or month
                will be equal to (1) 5% or 2% (as applicable) of the most recently determined aggregate NAV, plus (2) proceeds from sales of new shares in the current offering (including purchases pursuant to our distribution reinvestment plan) since the
                beginning of a current calendar quarter or month, less (3) repurchase proceeds paid since the beginning of the current calendar quarter or month.</div>
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              <div>Alternatively, the Board may choose whether the 5% quarterly limit will be applied to &#8220;gross repurchases,&#8221; meaning that amounts paid to repurchase
                Shares would not be netted against capital inflows. If repurchases for a given quarter are measured on a gross basis rather than on a net basis, the 5% quarterly limit could limit the amount of shares redeemed in a given quarter despite the
                Corporation receiving a net capital inflow for that quarter.</div>
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              <div>In order for the Board to change the basis of repurchases from net to gross, or vice versa, the Corporation will provide notice to stockholders (i)
                in a supplement to the Offering Memorandum for the offering of the Shares or current or periodic report filed with the SEC; and (ii) in a press release or on our website, at least ten (10) days before the first business day of the quarter
                for which the new test will apply. The determination to measure repurchases on a gross basis, or vice versa, will only be made for an entire quarter, and not particular months within a quarter.</div>
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    <div><br>
    </div>
    <div style="text-indent: 18pt; color: #000000; font-style: italic; font-weight: bold;">Procedures for Repurchase</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; color: #000000;">Qualifying stockholders who desire to have their Shares repurchased must give notice as provided on their personal on-line
      dashboard at <u>www.RichUncles.com</u>. All requests for repurchase must be received by the Corporation at least two (2) business days prior to the end of a month in
      order for the redemption request to be considered for the following month. Shares repurchase requests may be withdrawn, provided they are received by the Corporation at least two (2) business days prior to the end of a month. Approved repurchase
      requests will be processed on the third business day after the end of a month in which a request for repurchase was received and not withdrawn.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">If, as a result of a request for repurchase, a stockholder will own Shares having a value of less than $500 (based on the Corporation&#8217;s
      most-recently published offering price per Share), the Corporation reserves the right to repurchase all of the Shares owned by such stockholder.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;"><font style="color: #000000;">As noted above, </font>the Corporation <font style="color: #000000;">may use cash not otherwise dedicated to a particular use to fund repurchases under the Program. However, </font>the Corporation<font style="color: #000000;"> has the discretion to repurchase fewer shares than have been requested to be repurchased in a particular month or quarter, or to repurchase no shares at all, in the event that </font>the
      Corporation <font style="color: #000000;">lacks readily available funds to do so due to market conditions beyond its control, the need to maintain liquidity for its operations or because
      </font>the Corporation<font style="color: #000000;"> determines that investing in real property or other illiquid investments is a better use of its capital than repurchasing </font>the
      S<font style="color: #000000;">hares. Any determination to repurchase fewer shares than have been requested to be repurchased, or to repurchase no shares at all, may be made immediately
        prior to the applicable date of repurchase.</font></div>
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    <div>&#160;</div>
    <div style="text-indent: 36pt; color: #000000;">In the event that some but not all of the Shares submitted are repurchased in a given period, Shares submitted for
      repurchase during such period will be repurchased on a pro rata basis, subject to any Extraordinary Circumstance Repurchase (defined below). If, in each of the first two (2) months of a quarter, the 2% monthly repurchase limit is reached and
      repurchases are reduced pro rata for such months, then in the third and final month of that quarter, the applicable limit for such month will be less than 2% of NAV because repurchases for that month, combined with repurchases for the two previous
      months, cannot exceed 5% of aggregate NAV.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; color: #000000;">The Corporation has the discretion, but not the obligation, under extraordinary market or economic circumstances, to make a
      special repurchase in equal, nominal quantities of shares from all stockholders who have submitted share repurchase requests during the period (&#8220;Extraordinary Circumstance Repurchase&#8221;). Extraordinary Circumstance Repurchases will precede any pro rata
      share repurchases that may be made during the period.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; color: #000000;">All unsatisfied repurchase requests must be resubmitted at the start of the next month or quarter, or upon the
      recommencement of the Program (in the event of its suspension), as applicable, to be eligible for repurchase in a later month. Within three business days after a stockholder repurchase requests becomes fully or partially unsatisfied, the Corporation
      will notify the stockholder by email that the unsatisfied portion of the request must be resubmitted.</div>
    <div><br>
    </div>
    <div style="text-indent: 18pt; color: #000000; font-style: italic; font-weight: bold;">Amendment, Suspension or Termination of Program and Notice</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; color: #000000;">The Board may amend, suspend or terminate the Program without stockholder approval upon 10 days&#8217; notice, if the Board
      believes such action is in the best interests of stockholders and the Corporation, including because Share repurchases place an undue burden on our liquidity, adversely affect our operations, adversely affect stockholders whose shares are not
      repurchased, or if the Board determines that the funds otherwise available to fund our Share repurchases are needed for other purposes. In addition, the Board may amend, suspend or terminate the Program for any reason, including due to changes in law
      or regulation, or if the Board becomes aware of undisclosed material information that it believes should be publicly disclosed before shares are repurchased. Material modifications, including any reduction to the monthly or quarterly limitations on
      repurchases, and suspensions of the stock repurchase program, will be promptly disclosed (i) in a supplement to the Offering Memorandum for the offering of the Shares, or (ii) in a current or periodic report filed with SEC; and (iii) on the
      Corporation&#8217;s website.</div>
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