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IMPORTANT NOTICE The Trust will furnish to any shareholder, on
request and without charge, a full statement of the information required by
Section 8-203(d) of the Corporations and Associations Article of the
Annotated Code of Maryland with respect to the designations and any
preferences, conversion and other rights, voting powers, restrictions, limitations
as to dividends and other distributions, qualifications, and terms and
conditions of redemption of the shares of each class of beneficial interest
which the Trust has authority to issue and, if the Trust is authorized to
issue any preferred or special class in series, (i) the differences in the
relative rights and preferences between the shares of each series to the
extent set, and (ii) the authority of the Board of Trustees to set such
rights and preferences of subsequent series. The foregoing summary does not
purport to be complete and is subject to and qualified in its entirety by
reference to the Declaration of Trust of the Trust, a copy of which will be
sent without charge to each shareholder who so requests. Such request must be
made to the Secretary of the Trust at its principal office or to the Transfer
Agent. The shares represented by this Certificate are subject to restrictions
on Beneficial Ownership, Constructive Ownership and Transfer for the purpose
of the Trust’s maintenance of its status as a real estate investment trust (a
“REIT”) under the Internal Revenue Code of 1986, as amended (the “Code”).
Subject to certain further restrictions and except as expressly provided in
the Declaration of Trust of the Trust, (i) no Person may Beneficially Own or
Constructively Own Common Shares of the Trust in excess of 9.8 percent (in
value or number of shares) of the outstanding Common Shares of the Trust
unless such Person is an Excepted Holder or a Permitted Holder (in which case
the Excepted Holder Limit shall be applicable); (ii) no Person may
Beneficially Own or Constructively Own Equity Shares of the Trust in excess
of 9.8 percent of the value of the total outstanding Equity Shares of the
Trust, unless such Person is an Excepted Holder or a Permitted Holder (in
which case the Excepted Holder Limit shall be applicable); (iii) no Person
may Beneficially Own or Constructively Own Equity Shares that would result in
the Trust being “closely held” under Section 856(h) of the Code or otherwise
cause the Trust to fail to qualify as a REIT; and (iv) no Person may Transfer
Equity Shares if such Transfer would result in Equity Shares of the Trust
being owned by fewer than 100 Persons. Any Person who Beneficially Owns or
Constructively Owns or attempts to Beneficially Own or Constructively Own
Equity Shares which cause or will cause a Person to Beneficially Own or
Constructively Own Equity Shares in excess or in violation of the above
limitations must immediately notify the Trust. If any of the restrictions on transfer
or ownership are violated, the Equity Shares represented hereby will be
automatically transferred to a Trustee of a Charitable Trust for the benefit
of one or more Charitable Beneficiaries. In addition, upon the occurrence of
certain events, attempted Transfers in violation of the restrictions
described above may be void ab initio. All capitalized terms in this legend
have the meanings defined in the Declaration of Trust of the Trust, as the
same may be amended from time to time, a copy of which, including the
restrictions on transfer and ownership, will be furnished to each holder of
Equity Shares of the Trust on request and without charge. Such request must
be made to the Secretary of the Trust at its principal office or to the
Transfer Agent. KEEP THIS CERTIFICATE IN A SAFE PLACE. IF LOST, STOLEN OR
DESTROYED, THE TRUST WILL REQUIRE A BOND OF INDEMNITY AS A CONDITION TO THE
ISSUANCE OF A REPLACEMENT CERTIFICATE. The following abbreviations, when used
in the inscription on the face of this Certificate, shall be construed as
though they were written out in full according to applicable laws or
regulations: TEN COM – as tenants in common UNIF
GIFT–_________Custodian_________ UNIF TRAN MIN
ACT–_________Custodian_________ TEN ENT – as tenants by the entireties (Cust)
(Minor) (Cust) (Minor) JT TEN – as joint tenants with right under Uniform
Gifts to Minors under Uniform Transfers to Minors of survivorship and not as
tenants Act of _____________ Act of ______________ in common State State
Additional abbreviations may also be used though not in above list. FOR VALUE
RECEIVED, ______________________________________ hereby sells, assigns, and
transfers unto (PLEASE PRINT OR TYEPWRITE NAME AND ADDRESS, INCLUDING ZIP
CODE, OF ASSIGNEE) (PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER
OF ASSIGNEE) ____________________________________
(____________________________) 7.375% Series L Cumulative Preferred Shares of
beneficial interest of the Trust represented by this Certificate and does
hereby irrevocably constitute and appoint _
___________________________________________________________________________________________
Attorney to transfer the said shares on the books of the Trust, with full
power of substitution in the premises. Dated: ______________________________________
NOTICE: THE SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME AS
WRITTEN UPON THE FACE OF THIS CERTIFICATE IN EVERY PARTICULAR, WITHOUT
ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATEVER. Signature(s) Guaranteed: By
THE SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION
(Banks, Stockbrokers, Savings and Loan Associations and Credit Unions) WITH
MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM PURSUANT TO
S.E.C. RULE 17Ad-15.
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