Common use of No Rights as Stockholders Clause in Contracts

No Rights as Stockholders. Nothing contained in this Agreement shall be construed as conferring upon the holders of the Partnership Units any rights whatsoever as stockholders of the General Partner, including, without limitation, any right to receive dividends or other distributions made to shareholders or to vote or to consent or receive notice as shareholders in respect to any meeting or shareholders for the election of directors of the General Partner or any other matter. Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LP, by and among the undersigned and the other parties thereto. GENERAL PARTNER: LIGHTSTONE VALUE PLUS REAL ESTATE INVESTMENT TRUST II , INC. By: Name: Xxxxx Xxxxxxxxxxxx Title: Chief Executive Officer, President and Chairman of the Board of Directors LIMITED PARTNER: LIGHTSTONE VALUE PLUS REIT II LLC By: Name: Xxxxx Xxxxxxxxxxxx Title: Authorized Person ASSOCIATE GENERAL PARTNER: LIGHTSTONE SLP II, LLC By: Name: Xxxxx Xxxxxxxxxxxx Title: Authorized Person 40 Corporate/Limited Liability Company Additional Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LP, by and among the undersigned and the other parties thereto. Dated: , 200 [Name of Corporation/LLC] By: Name: Title: Individual Additional Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LP, by and among the undersigned and the other parties thereto. By: Name: Dated: , 200 42 Partnership Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LP, by and among the undersigned and the other parties thereto. Dated: , 200 [Name of LP] By: Name: Title: Exhibit A Partners’ Contributions and Partnership Interests Name and Address of Partner Type of Interest Capital Contribution Number of Partnership Units (“OPUs”) Percentage Interest Security Interests Lightstone Value Plus Real Estate Investment Trust II, Inc. General Partnership Interest $200,000 20,000 99.01% Lightstone Value Plus REIT II LLC Limited Partnership Interest $2,000 200 0.99% Lightstone SLP II, LLC Associate General Partnership Interest Amount will equal the offering expenses of Lightstone Value Plus Real Estate Investment Trust II, Inc. 1 Associate Partnership Unit For each $100,000 Contributed Not applicable

No Rights as Stockholders. Nothing contained in this Agreement shall be construed as conferring upon the holders of the Partnership Units any rights whatsoever as stockholders of the General Partner, including, without limitation, any right to receive dividends or other distributions made to shareholders or to vote or to consent or receive notice as shareholders in respect to any meeting or shareholders for the election of directors of the General Partner or any other matter. Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPAmerican Realty Capital Healthcare Trust Operating Partnership, by and L.P., among the undersigned and the other parties thereto. GENERAL PARTNER: LIGHTSTONE VALUE PLUS REAL ESTATE INVESTMENT TRUST II AMERICAN REALTY CAPITAL HEALTHCARE TRUST, INC. By: Name: Xxxxx Xxxxxxxxxxxx Title: Chief Executive Officer, President and Chairman of the Board of Directors INITIAL LIMITED PARTNER: LIGHTSTONE VALUE PLUS REIT II AMERICAN REALTY CAPITAL HEALTHCARE ADVISORS, LLC By: American Realty Capital Healthcare Special Limited Partnership, LLC, its Member By: American Realty Capital V, LLC, its Managing Member By: Name: Xxxxx Xxxxxxxxxxxx Title: Authorized Person ASSOCIATE GENERAL SPECIAL LIMITED PARTNER: LIGHTSTONE SLP IIAMERICAN REALTY CAPITAL HEALTHCARE SPECIAL LIMITED PARTNERSHIP, LLC By: American Realty Capital V, LLC, its Managing Member By: Name: Xxxxx Xxxxxxxxxxxx Title: Authorized Person 40 Corporate/Limited Liability Company Additional Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPAmerican Realty Capital Healthcare Trust Operating Partnership, by and L.P., among the undersigned and the other parties thereto. Dated: , 200 [Name of Corporation/LLC] Dated: ____________ __, 20___ By: Name: Title: Individual Additional Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPAmerican Realty Capital Healthcare Trust Operating Partnership, by and L.P., among the undersigned and the other parties thereto. By: Name: Dated: ____________ __, 200 42 20___ Partnership Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPAmerican Realty Capital Healthcare Trust Operating Partnership, by and L.P., among the undersigned and the other parties thereto. Dated: , 200 [Name of LP] Dated: ____________ __, 20___ By: Name: Title: Exhibit A Partners’ Contributions and Partnership Interests Name and Address of Partner Type of Interest Capital Contribution Number of Partnership Units (“OPUs”) Percentage Interest Security Interests Lightstone Value Plus Real Estate Investment Trust IIAmerican Realty Capital Healthcare Trust, Inc. 400 Xxxx Xxxxxx Xxx Xxxx, Xxx Xxxx 00000 General Partnership Partner Interest $200,000 20,000 99.0199% Lightstone Value Plus REIT II American Realty Capital Healthcare Advisors, LLC 400 Xxxx Xxxxxx Xxx Xxxx, Xxx Xxxx 00000 Limited Partnership Partner Interest $2,000 200 0.992,020 202 1% Lightstone SLP IIAmerican Realty Capital Healthcare Special Limited Partnership, LLC Associate General Partnership 400 Xxxx Xxxxxx Xxx Xxxx, Xxx Xxxx 00000 Special Limited Partner Interest Amount will equal None Not applicable Not applicable Exhibit B Allocations For purposes of this Exhibit B, the offering expenses of Lightstone Value Plus Real Estate Investment Trust II, Inc. 1 Associate Partnership Unit For each $100,000 Contributed Not applicableterm “Partner” shall include the Special Limited Partner.

No Rights as Stockholders. Nothing contained in this Agreement shall be construed as conferring upon the holders of the Partnership Units any rights whatsoever as stockholders of the General Partner, including, without limitation, any right to receive dividends or other distributions made to shareholders or to vote or to consent or receive notice as shareholders in respect to any meeting or shareholders for the election of directors of the General Partner or any other matter. Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LP, by and among the undersigned and the other parties thereto. GENERAL PARTNER: LIGHTSTONE VALUE PLUS REAL ESTATE INVESTMENT TRUST II , INC. By: / S / Dxxxx Xxxxxxxxxxxx Name: Xxxxx Dxxxx Xxxxxxxxxxxx Title: Chief Executive Officer, President and Chairman of the Board of Directors LIMITED PARTNER: LIGHTSTONE VALUE PLUS REIT II LLC By: / S / Dxxxx Xxxxxxxxxxxx Name: Xxxxx Dxxxx Xxxxxxxxxxxx Title: Authorized Person ASSOCIATE GENERAL PARTNER: LIGHTSTONE SLP II, LLC By: / S / Dxxxx Xxxxxxxxxxxx Name: Xxxxx Dxxxx Xxxxxxxxxxxx Title: Authorized Person 40 Corporate/Limited Liability Company Additional Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LP, by and among the undersigned and the other parties thereto. Dated: , 200 [Name of Corporation/LLC] By: Name: Title: Individual Additional Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LP, by and among the undersigned and the other parties thereto. By: Name: Dated: , 200 42 Partnership Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LP, by and among the undersigned and the other parties thereto. Dated: , 200 [Name of LP] By: Name: Title: Exhibit A Partners’ Contributions and Partnership Interests Name and Address of Partner Type of Interest Capital Contribution Number of Partnership Units (“OPUs”) Percentage Interest Security Interests Lightstone Value Plus Real Estate Investment Trust II, Inc. General Partnership Interest $200,000 20,000 99.01% Lightstone Value Plus REIT II LLC Limited Partnership Interest $2,000 200 0.99% Lightstone SLP II, LLC Associate General Partnership Interest [Amount will equal the offering expenses of Lightstone Value Plus Real Estate Investment Trust II, Inc. Inc.] 1 Associate Partnership Unit For each $100,000 Contributed Not applicable

No Rights as Stockholders. Nothing contained in this Agreement shall be construed as conferring upon the holders of the Partnership Units any rights whatsoever as stockholders of the General Partner, including, without limitation, any right to receive dividends or other distributions made to shareholders or to vote or to consent or receive notice as shareholders in respect to any meeting or shareholders for the election of directors of the General Partner or any other matter. Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPNew York Recovery Operating Partnership, L.P., by and among the undersigned and the other parties thereto. GENERAL PARTNER: LIGHTSTONE VALUE PLUS REAL ESTATE INVESTMENT TRUST II AMERICAN REALTY CAPITAL NEW YORK RECOVERY REIT, INC. By: Name: Xxxxx Xxxxxxxxxxxx Title: Chief Executive Officer, President and Chairman of the Board of Directors LIMITED PARTNER: LIGHTSTONE VALUE PLUS REIT II NEW YORK RECOVERY ADVISORS, LLC By: New York Recovery Special Limited Partnership, LLC, its Member By: American Realty Capital III, LLC, its Managing Member By: Name: Xxxxx Xxxxxxxxxxxx Title: Authorized Person ASSOCIATE GENERAL SPECIAL LIMITED PARTNER: LIGHTSTONE SLP IINEW YORK RECOVERY SPECIAL LIMITED PARTNERSHIP, LLC By: American Realty Capital III, LLC, its Managing Member By: Name: Xxxxx Xxxxxxxxxxxx Title: Authorized Person 40 Corporate/Limited Liability Company Additional Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPNew York Recovery Operating Partnership, L.P., by and among the undersigned and the other parties thereto. Dated: ____________ __, 200 20___ [Name of Corporation/LLC] By: Name: Title: Individual Additional Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPNew York Recovery Operating Partnership, by and among the undersigned and the other parties thereto. By: Name: Dated: , 200 42 Partnership Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPL.P., by and among the undersigned and the other parties thereto. Dated: ____________ __, 200 20___ Partnership Limited Partner Signature Page to Agreement of Limited Partnership of New York Recovery Operating Partnership, L.P., by and among the undersigned and the other parties thereto. Dated: ____________ __, 20___ [Name of LP] By: Name: Title: Exhibit A Partners’ Contributions and Partnership Interests Name and Address of Partner Type of Interest Capital Contribution Number of Partnership Units (“OPUs”) Percentage Interest Security Interests Lightstone Value Plus Real Estate Investment Trust IIAmerican Realty Capital New York Recovery REIT, Inc. 400 Xxxx Xxxxxx Xxx Xxxx, Xxx Xxxx 00000 General Partnership Interest $$ 200,000 20,000 99.0199.01 % Lightstone Value Plus REIT II New York Recovery Advisors, LLC 400 Xxxx Xxxxxx Xxx Xxxx, Xxx Xxxx 00000 Limited Partnership Interest $$ 2,000 200 0.990.99 % Lightstone SLP IINew York Recovery Special Limited Partnership, LLC Associate General Partnership Interest Amount will equal the offering expenses of Lightstone Value Plus Real Estate Investment Trust II400 Xxxx Xxxxxx Xxx Xxxx, Inc. 1 Associate Partnership Unit For each $100,000 Contributed Xxx Xxxx 00000 Subordinated 15% interest in distributions described in Section 5.1(b)(ii)(A) None Not applicableapplicable Not applicable Exhibit B Allocations

No Rights as Stockholders. Nothing contained in this Agreement shall be construed as conferring upon the holders of the Partnership Units any rights whatsoever as stockholders of the General Partner, including, without limitation, any right to receive dividends or other distributions made to shareholders or to vote or to consent or receive notice as shareholders in respect to any meeting or shareholders for the election of directors of the General Partner or any other matter. Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPARC Realty Finance Operating Partnership, by and L.P., among the undersigned and the other parties thereto. GENERAL PARTNER: LIGHTSTONE VALUE PLUS REAL ESTATE INVESTMENT TRUST II ARC REALTY FINANCE TRUST, INC. By: Name: Xxxxx Xxxxxxxxxxxx Nxxxxxxx X. Xxxxxxxx Title: Chief Executive OfficerChairman, President and Chairman of the Board of Directors Chief Executive Officer INITIAL LIMITED PARTNER: LIGHTSTONE VALUE PLUS REIT II ARC REALTY FINANCE SPECIAL LIMITED PARTNERSHIP, LLC By: AR Capital, LLC, its Member By: Name: Xxxxx Xxxxxxxxxxxx Nxxxxxxx X. Xxxxxxxx Title: Authorized Person ASSOCIATE GENERAL Signatory SPECIAL LIMITED PARTNER: LIGHTSTONE SLP IIARC REALTY FINANCE SPECIAL LIMITED PARTNERSHIP, LLC By: AR Capital, LLC, its Member By: Name: Xxxxx Xxxxxxxxxxxx Nxxxxxxx X. Xxxxxxxx Title: Authorized Person 40 Signatory Corporate/Limited Liability Company Additional Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPARC Realty Finance Operating Partnership, by and L.P., among the undersigned and the other parties thereto. Dated: ____________ __, 200 20___ [Name of Corporation/LLC] By: Name: Title: Individual Additional Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPARC Realty Finance Operating Partnership, by and L.P., among the undersigned and the other parties thereto. By: Name: Dated: ____________ __, 200 42 20___ Partnership Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPARC Realty Finance Operating Partnership, by and L.P., among the undersigned and the other parties thereto. Dated: ____________ __, 200 20___ [Name of LP] By: Name: Title: Exhibit A Partners’ Contributions and Partnership Interests Name and Address of Partner Type of Interest Capital Contribution Number of Partnership Units (“OPUs”) Percentage Interest Security Interests Lightstone Value Plus Real Estate Investment Trust IIARC Realty Finance Trust, Inc. 405 Park Avenue New York, New York 10022 General Partnership Interest $$ 200,000 20,000 99.018,888 100% Lightstone Value Plus REIT II ARC Realty Finance Special Limited Partnership, LLC 405 Park Avenue New York, New York 10022 Special Limited Partnership Interest $2,000 200 0.99% Lightstone SLP II, LLC Associate General Partnership Interest Amount will equal the offering expenses of Lightstone Value Plus Real Estate Investment Trust II, Inc. 1 Associate Partnership Unit For each $100,000 Contributed None Not applicableapplicable Not applicable Exhibit B Allocations

No Rights as Stockholders. Nothing contained in this Agreement shall be construed as conferring upon the holders of the Partnership Units any rights whatsoever as stockholders of the General Partner, including, without limitation, any right to receive dividends or other distributions made to shareholders or to vote or to consent or receive notice as shareholders in respect to any meeting or shareholders for the election of directors of the General Partner or any other matter. Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LP, by and among the undersigned and the other parties thereto. GENERAL PARTNER: LIGHTSTONE VALUE PLUS REAL ESTATE INVESTMENT TRUST II TRUST, INC. By: Name: Xxxxx Xxxxxxxxxxxx Title: Chief Executive Officer, President and Chairman of the Board of Directors LIMITED PARTNER: LIGHTSTONE VALUE PLUS REIT II LLC By: Name: Xxxxx Xxxxxxxxxxxx Title: Authorized Person ASSOCIATE SPECIAL GENERAL PARTNER: LIGHTSTONE SLP IISLP, LLC By: Name: Xxxxx Xxxxxxxxxxxx Title: Authorized Person 40 Member Corporate/Limited Liability Company Additional Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LP, by and among the undersigned and the other parties thereto. Dated: , 200 [Name of Corporation/LLC] By: Name: Title: Individual Additional Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LP, by and among the undersigned and the other parties thereto. By: Name: Dated: , 200 42 Partnership Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LP, by and among the undersigned and the other parties thereto. Dated: , 200 [Name of LP] By: Name: Title: Exhibit A Partners’ Contributions and Partnership Interests Name and Address of Partner Type of Interest Capital Contribution Number of Partnership Units (“OPUs”) Percentage Interest Security Interests Lightstone Value Plus Real Estate Investment Trust IITrust, Inc. General Partnership Interest $200,000 20,000 99.01% Lightstone Value Plus REIT II LLC Limited Partnership Interest $2,000 200 0.99% Lightstone SLP IISLP, LLC Associate Special General Partnership Interest [Amount will equal the offering expenses of Lightstone Value Plus Real Estate Investment Trust IITrust, Inc. Inc.] 1 Associate Special Partnership Unit For each $100,000 Contributed Not applicableapplicable Allocations

No Rights as Stockholders. Nothing contained in this Agreement shall be construed as conferring upon the holders of the Partnership Units any rights whatsoever as stockholders of the General Partner, including, without limitation, any right to receive dividends or other distributions made to shareholders or to vote or to consent or receive notice as shareholders in respect to any meeting or shareholders for the election of directors of the General Partner or any other matter. Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LP, by and among the undersigned and the other parties thereto. GENERAL PARTNER: LIGHTSTONE VALUE PLUS REAL ESTATE INVESTMENT TRUST II TRUST, INC. By: Name: Xxxxx Xxxxxxxxxxxx Title: Chief Executive Officer, President and Chairman of the Board of Directors LIMITED PARTNER: LIGHTSTONE VALUE PLUS REIT II LLC By: Name: Xxxxx Xxxxxxxxxxxx Title: Authorized Person ASSOCIATE GENERAL SPECIAL LIMITED PARTNER: THE LIGHTSTONE SLP II, GROUP LLC By: Name: Xxxxx Xxxxxxxxxxxx Title: Authorized Person 40 Chief Executive Officer, President and Chairman of the Board of Directors Corporate/Limited Liability Company Additional Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LP, by and among the undersigned and the other parties thereto. Dated: , 200 [Name of Corporation/LLC] By: Name: Title: Individual Additional Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LP, by and among the undersigned and the other parties thereto. By: Name: Dated: , 200 42 Partnership Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LP, by and among the undersigned and the other parties thereto. Dated: , 200 [Name of LP] By: Name: Title: Exhibit A Partners’ Contributions and Partnership Interests Name and Address of Partner Type of Interest Capital Contribution Number of Partnership Units (“OPUs”) Percentage Interest Security Interests Lightstone Value Plus Real Estate Investment Trust IITrust, Inc. General Partnership Interest $200,000 20,000 99.01% Lightstone Value Plus REIT II LLC Limited Partnership Interest $2,000 200 0.99% The Lightstone SLP II, Group LLC Associate General Special Limited Partnership Interest [Amount will equal the offering expenses of Lightstone Value Plus Real Estate Investment Trust IITrust, Inc. Inc.] 1 Associate Special Partnership Unit For each $100,000 Contributed Not applicableapplicable Exhibit B Allocations

No Rights as Stockholders. Nothing contained in this Agreement shall be construed as conferring upon the holders of the Partnership Units any rights whatsoever as stockholders of the General Partner, including, without limitation, any right to receive dividends or other distributions made to shareholders or to vote or to consent or receive notice as shareholders in respect to any meeting or shareholders for the election of directors of the General Partner or any other matter. Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPAmerican Realty Capital Healthcare Trust Operating Partnership, by and L.P., among the undersigned and the other parties thereto. GENERAL PARTNER: LIGHTSTONE VALUE PLUS REAL ESTATE INVESTMENT TRUST II AMERICAN REALTY CAPITAL HEALTHCARE TRUST, INC. By: /s/ Xxxxxxx X. Xxxxxx Name: Xxxxx Xxxxxxxxxxxx Xxxxxxx X. Xxxxxx Title: Chief Executive Officer, President and Chairman of the Board of Directors INITIAL LIMITED PARTNER: LIGHTSTONE VALUE PLUS REIT II LLC By: Name: Xxxxx Xxxxxxxxxxxx Title: Authorized Person ASSOCIATE GENERAL PARTNER: LIGHTSTONE SLP IIAMERICAN REALTY CAPITAL HEALTHCARE ADVISORS, LLC By: American Realty Capital Healthcare Trust Special Limited Partnership, LLC, its Member By: American Realty Capital V, LLC, its Managing Member By: /s/ Xxxxxxxx X. Xxxxxxxx Name: Xxxxx Xxxxxxxxxxxx Xxxxxxxx X. Xxxxxxxx Title: Authorized Person 40 Chairman and CEO SPECIAL LIMITED PARTNER: AMERICAN REALTY CAPITAL HEALTHCARE TRUST SPECIAL LIMITED PARTNERSHIP, LLC By: American Realty Capital V, LLC, its Managing Member By: /s/ Xxxxxxxx X. Xxxxxxxx Name: Xxxxxxxx X. Xxxxxxxx Title: Chairman and CEO Corporate/Limited Liability Company Additional Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPAmerican Realty Capital Healthcare Trust Operating Partnership, by and L.P., among the undersigned and the other parties thereto. Dated: ____________ __, 200 20___ [Name of Corporation/LLC] By: Name: Title: Individual Additional Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPAmerican Realty Capital Healthcare Trust Operating Partnership, by and L.P., among the undersigned and the other parties thereto. By: Name: Dated: ____________ __, 200 42 20___ Partnership Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPAmerican Realty Capital Healthcare Trust Operating Partnership, by and L.P., among the undersigned and the other parties thereto. Dated: ____________ __, 200 20___ [Name of LP] By: Name: Title: Exhibit A Partners’ Contributions and Partnership Interests Name and Address of Partner Type of Interest Capital Contribution Number of Partnership Units (“OPUs”) Percentage Interest Security Interests Lightstone Value Plus Real Estate Investment Trust IIAmerican Realty Capital Healthcare Trust, Inc. 000 Xxxx Xxxxxx Xxx Xxxx, Xxx Xxxx 00000 General Partnership Partner Interest $$ 200,000 20,000 99.0199 % Lightstone Value Plus REIT II LLC Limited Partnership Interest $2,000 200 0.99% Lightstone SLP IIAmerican Realty Capital Healthcare Advisors, LLC Associate General Partnership 000 Xxxx Xxxxxx Xxx Xxxx, Xxx Xxxx 00000 Limited Partner Interest Amount will equal $ 2,020 202 1 % American Realty Capital Healthcare Special Limited Partnership, LLC Special Limited Partner Interest None Not applicable Not applicable 000 Xxxx Xxxxxx Xxx Xxxx, Xxx Xxxx 00000 Exhibit B Allocations For purposes of this Exhibit B, the offering expenses of Lightstone Value Plus Real Estate Investment Trust II, Inc. 1 Associate Partnership Unit For each $100,000 Contributed Not applicableterm “Partner” shall include the Special Limited Partner.

No Rights as Stockholders. Nothing contained in this Agreement shall be construed as conferring upon the holders of the Partnership Units any rights whatsoever as stockholders of the General Partner, including, without limitation, any right to receive dividends or other distributions made to shareholders or to vote or to consent or receive notice as shareholders in respect to any meeting or shareholders for the election of directors of the General Partner or any other matter. Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPAmerican Realty Capital Operating Partnership II, by and L.P., among the undersigned and the other parties thereto. GENERAL PARTNER: LIGHTSTONE AMERICAN REALTY CAPITAL DAILY NET ASSET VALUE PLUS REAL ESTATE INVESTMENT TRUST II TRUST, INC. By: /s/Wxxxxxx X. Xxxxxx Name: Xxxxx Xxxxxxxxxxxx Wxxxxxx X. Xxxxxx Title: Chief Executive Officer, President and Chairman of the Board of Directors INITIAL LIMITED PARTNER: LIGHTSTONE VALUE PLUS REIT II LLC By: Name: Xxxxx Xxxxxxxxxxxx Title: Authorized Person ASSOCIATE GENERAL PARTNER: LIGHTSTONE SLP AMERICAN REALTY CAPITAL ADVISORS II, LLC By: American Realty Capital Trust II Special Limited Partner, LLC, its Member By: American Realty Capital II, LLC, its Managing Member By: /s/Nxxxxxxx X. Xxxxxxxx Name: Xxxxx Xxxxxxxxxxxx Nxxxxxxx X. Xxxxxxxx Title: Authorized Person 40 Signatory SPECIAL LIMITED PARTNER: AMERICAN REALTY CAPITAL TRUST II SPECIAL LIMITED PARTNER, LLC By: American Realty Capital II, LLC, its Managing Member By: /s/Nxxxxxxx X. Xxxxxxxx Name: Nxxxxxxx X. Xxxxxxxx Title: Authorized Signatory Corporate/Limited Liability Company Additional Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPAmerican Realty Capital Operating Partnership II, by and L.P., among the undersigned and the other parties thereto. Dated: ____________ __, 200 20___ [Name of Corporation/LLC] By: Name: Title: Individual Additional Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPAmerican Realty Capital Operating Partnership II, by and L.P., among the undersigned and the other parties thereto. By: Name: Dated: ____________ __, 200 42 20___ Partnership Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPAmerican Realty Capital Operating Partnership II, by and L.P., among the undersigned and the other parties thereto. Dated: ____________ __, 200 20___ [Name of LP] By: Name: Title: Exhibit A Partners’ Contributions and Partnership Interests Name and Address of Partner Type of Interest Capital Contribution Number of Partnership Units (“OPUs”) Percentage Interest Security Interests Lightstone American Realty Capital Daily Net Asset Value Plus Real Estate Investment Trust IITrust, Inc. General Partnership 400 Xxxx Xxxxxx Xxxxxxx Xxxxxxxxxxx Xxx Xxxx, Xxx Xxxx 00000 Interest $$ 200,000 20,000 99.0199 % Lightstone Value Plus REIT II LLC Limited Partnership Interest $2,000 200 0.99% Lightstone SLP American Realty Capital Advisors II, LLC Associate General Partnership 400 Xxxx Xxxxxx Xxxxxxx Xxxxxxxxxxx Xxx Xxxx, Xxx Xxxx 00000 Interest Amount will equal the offering expenses of Lightstone Value Plus Real Estate Investment $ 2,020 202 1 % American Realty Capital Trust IIII Special Limited Partner, Inc. 1 Associate Partnership Unit For each $100,000 Contributed LLC 400 Xxxx Xxxxxx Xxx Xxxx, Xxx Xxxx 00000 Subordinated 15% interest in distributions described in Sections 5.1(b), 5.1(c) and 5.1(d) None Not applicableapplicable Not applicable Exhibit B Allocations

No Rights as Stockholders. Nothing contained in this Agreement shall be construed as conferring upon the holders of the Partnership Units any rights whatsoever as stockholders of the General Partner, including, without limitation, any right to receive dividends or other distributions made to shareholders or to vote or to consent or receive notice as shareholders in respect to any meeting or shareholders for the election of directors of the General Partner or any other matter. Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPAmerican Realty Capital Global Operating Partnership, by and L.P., among the undersigned and the other parties thereto. GENERAL PARTNER: LIGHTSTONE AMERICAN REALTY CAPITAL GLOBAL DAILY NET ASSET VALUE PLUS REAL ESTATE INVESTMENT TRUST II TRUST, INC. By: Name: Xxxxx Xxxxxxxxxxxx Nxxxxxxx X. Xxxxxxxx Title: Chief Executive OfficerChairman, President and Chairman of the Board of Directors Chief Executive Officer INITIAL LIMITED PARTNER: LIGHTSTONE VALUE PLUS REIT II AMERICAN REALTY CAPITAL GLOBAL SPECIAL LIMITED PARTNERSHIP, LLC By: AR Capital Global Holdings, LLC, its Member By: Name: Xxxxx Xxxxxxxxxxxx Title: Authorized Person ASSOCIATE GENERAL SPECIAL LIMITED PARTNER: LIGHTSTONE SLP IIAMERICAN REALTY CAPITAL GLOBAL SPECIAL LIMITED PARTNERSHIP, LLC By: AR Capital Global Holdings, LLC, its Member By: Name: Xxxxx Xxxxxxxxxxxx Title: Authorized Person 40 Corporate/Limited Liability Company Additional Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPAmerican Realty Capital Global Operating Partnership, by and L.P., among the undersigned and the other parties thereto. Dated: ____________ __, 200 20___ [Name of Corporation/LLC] By: Name: Title: Individual Additional Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPAmerican Realty Capital Global Operating Partnership, by and L.P., among the undersigned and the other parties thereto. By: Name: Dated: ____________ __, 200 42 20___ Partnership Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPAmerican Realty Capital Global Operating Partnership, by and L.P., among the undersigned and the other parties thereto. Dated: ____________ __, 200 20___ [Name of LP] By: Name: Title: Exhibit A Partners’ Contributions and Partnership Interests Name and Address of Partner Type of Interest Capital Contribution Number of Partnership Units (“OPUs”) Percentage Interest Security Interests Lightstone American Realty Capital Global Daily Net Asset Value Plus Real Estate Investment Trust IITrust, Inc. 400 Xxxx Xxxxxx Xxx Xxxx, Xxx Xxxx 00000 General Partnership Interest $$ 200,000 20,000 99.0122,222 100 % Lightstone Value Plus REIT II American Realty Capital Global Special Limited Partnership, LLC 400 Xxxx Xxxxxx Xxx Xxxx, Xxx Xxxx 00000 Special Limited Partnership Interest $2,000 200 0.99% Lightstone SLP II, LLC Associate General Partnership Interest Amount will equal the offering expenses of Lightstone Value Plus Real Estate Investment Trust II, Inc. 1 Associate Partnership Unit For each $100,000 Contributed None Not applicableapplicable Not applicable Exhibit B Allocations

No Rights as Stockholders. Nothing contained in this Agreement shall be construed as conferring upon the holders of the Partnership Units any rights whatsoever as stockholders of the General Partner, including, without limitation, any right to receive dividends or other distributions made to shareholders or to vote or to consent or receive notice as shareholders in respect to any meeting or shareholders for the election of directors of the General Partner or any other matter. Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPAmerican Realty Capital Operating Partnership III, by and L.P., among the undersigned and the other parties thereto. GENERAL PARTNER: LIGHTSTONE VALUE PLUS REAL ESTATE INVESTMENT AMERICAN REALTY CAPITAL TRUST II III, INC. By: Name: Xxxxx Xxxxxxxxxxxx Title: Chief Executive Officer, President and Chairman of the Board of Directors INITIAL LIMITED PARTNER: LIGHTSTONE VALUE PLUS REIT II AMERICAN REALTY CAPITAL ADVISORS III, LLC By: American Realty Capital Trust III Special Limited Partner, LLC, its Member By: American Realty Capital II, LLC, its Managing Member By: Name: Xxxxx Xxxxxxxxxxxx Title: Authorized Person ASSOCIATE GENERAL SPECIAL LIMITED PARTNER: LIGHTSTONE SLP IIAMERICAN REALTY CAPITAL TRUST III SPECIAL LIMITED PARTNER, LLC By: American Realty Capital II, LLC, its Managing Member By: Name: Xxxxx Xxxxxxxxxxxx Title: Authorized Person 40 66 Corporate/Limited Liability Company Additional Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPAmerican Realty Capital Operating Partnership III, by and L.P., among the undersigned and the other parties thereto. Dated: , 200 [Name of Corporation/LLC] Dated: ____________ __, 20___ By: Name: Title: Individual Additional Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPAmerican Realty Capital Operating Partnership III, by and L.P., among the undersigned and the other parties thereto. By: Name: Dated: ____________ __, 200 42 20___ Partnership Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPAmerican Realty Capital Operating Partnership III, by and L.P., among the undersigned and the other parties thereto. Dated: , 200 [Name of LP] Dated: ____________ __, 20___ By: Name: Title: Exhibit A Partners’ Contributions and Partnership Interests Name and Address of Partner Type of Interest Capital Contribution Number of Partnership Units (“OPUs”) Percentage Interest Security Interests Lightstone Value Plus Real Estate Investment American Realty Capital Trust IIIII, Inc. 000 Xxxx Xxxxxx Xxx Xxxx, Xxx Xxxx 00000 General Partnership Interest $200,000 20,000 99.0199% Lightstone Value Plus REIT II American Realty Capital Advisors III, LLC 000 Xxxx Xxxxxx Xxx Xxxx, Xxx Xxxx 00000 Limited Partnership Interest $2,000 200 0.992,020 202 1% Lightstone SLP IIAmerican Realty Capital Trust III Special Limited Partner, LLC Associate General Partnership Interest Amount will equal the offering expenses of Lightstone Value Plus Real Estate Investment Trust II000 Xxxx Xxxxxx Xxx Xxxx, Inc. 1 Associate Partnership Unit For each $100,000 Contributed Xxx Xxxx 00000 Subordinated 15% interest in distributions described in Sections 5.1(b), 5.1(c) and 5.1(d) None Not applicableapplicable Not applicable Exhibit B Allocations

No Rights as Stockholders. Nothing contained in this Agreement shall be construed as conferring upon the holders of the Partnership Units any rights whatsoever as stockholders of the General Partner, including, without limitation, any right to receive dividends or other distributions made to shareholders or to vote or to consent or receive notice as shareholders in respect to any meeting or shareholders for the election of directors of the General Partner or any other matter. Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II Empire American Realty Operating Partnership, LP, by and among the undersigned and the other parties thereto. GENERAL PARTNER: LIGHTSTONE VALUE PLUS REAL ESTATE INVESTMENT TRUST II EMPIRE AMERICAN REALTY TRUST, INC. By: /s/ XXXX XXXXXX Name: Xxxxx Xxxxxxxxxxxx Xxxx Xxxxxx Title: Chief Executive Officer, President and Chairman of the Board of Directors Officer LIMITED PARTNER: LIGHTSTONE VALUE PLUS REIT II LLC By: Name: Xxxxx Xxxxxxxxxxxx Title: Authorized Person ASSOCIATE GENERAL PARTNER: LIGHTSTONE SLP IIEMPIRE AMERICAN ADVISORS, LLC By: /s/ XXXX XXXXXX Name: Xxxxx Xxxxxxxxxxxx Xxxx Xxxxxx Title: Authorized Person 40 Chief Executive Officer ASSOCIATE LIMITED PARTNER: EMPIRE AMERICAN ALP, LLC By: EAH Holdings, LLC, its sole member By: Empire American Holdings, LLC, its sole member By: EAH MN Inc., its managing member By: /s/ XXXX XXXXXX Name: Xxxx Xxxxxx Title: President Corporate/Limited Liability Company Additional Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II Empire American Realty Operating Partnership, LP, by and among the undersigned and the other parties thereto. Dated: , 200 20 [Name of Corporation/LLC] By: Name: Title: Individual Additional Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPEmpire American Realty Operating Partnership, by and among the undersigned and the other parties thereto. By: Name: Dated: , 200 42 Partnership Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LP, by and among the undersigned and the other parties thereto. Dated: , 200 20 Partnership Limited Partner Signature Page to Agreement of Limited Partnership of Empire American Realty Operating Partnership, LP, by and among the undersigned and the other parties thereto. Dated: , 20 [Name of LP] By: Name: Title: Exhibit A Partners’ Contributions and Partnership Interests Name and Address of Partner Type of Interest Capital Contribution Number of Partnership Units (“OPUs”) Percentage Interest Security Interests Lightstone Value Plus Real Estate Investment Trust IIEmpire American Realty Trust, Inc. 00 Xxxxxxx Xxxxxxx Xxxxxxxx, Xxx Xxxxxx 00000 General Partnership Interest $$ 200,000 20,000 99.0199.01 % Lightstone Value Plus REIT II Empire American Advisors, LLC 00 Xxxxxxx Xxxxxxx Xxxxxxxx, Xxx Xxxxxx 00000 Limited Partnership Interest $$ 2,000 200 0.990.99 % Lightstone SLP IIEmpire American ALP, LLC Associate General Partnership Interest Amount will equal the offering expenses of Lightstone Value Plus Real Estate Investment Trust II00 Xxxxxxx Xxxxxxx Xxxxxxxx, Inc. 1 Associate Partnership Unit For each $100,000 Contributed Xxx Xxxxxx 00000 Subordinated 15% interest in distributions described in Section 5.1(b)(ii)(A) None Not applicableapplicable Not applicable Exhibit B Allocations

No Rights as Stockholders. Nothing contained in this Agreement shall be construed as conferring upon the holders of the Partnership Units any rights whatsoever as stockholders of the General Partner, including, without limitation, any right to receive dividends or other distributions made to shareholders or to vote or to consent or receive notice as shareholders in respect to any meeting or shareholders for the election of directors of the General Partner or any other matter. Signature Page to Amended and Restated Agreement of Limited Partnership of Lightstone Value Plus REIT II LPNew York Recovery Operating Partnership, L.P., by and among the undersigned and the other parties thereto. GENERAL PARTNER: LIGHTSTONE VALUE PLUS REAL ESTATE INVESTMENT TRUST II AMERICAN REALTY CAPITAL NEW YORK RECOVERY REIT, INC. By: Name: Xxxxx Xxxxxxxxxxxx Title: Chief Executive Officer, President and Chairman of the Board of Directors LIMITED PARTNER: LIGHTSTONE VALUE PLUS REIT II NEW YORK RECOVERY ADVISORS, LLC By: New York Recovery Special Limited Partnership, LLC, its Member By: American Realty Capital III, LLC, its Managing Member By: Name: Xxxxx Xxxxxxxxxxxx Title: Authorized Person ASSOCIATE GENERAL SPECIAL LIMITED PARTNER: LIGHTSTONE SLP IINEW YORK RECOVERY SPECIAL LIMITED PARTNERSHIP, LLC By: American Realty Capital III, LLC, its Managing Member By: Name: Xxxxx Xxxxxxxxxxxx Title: Authorized Person 40 Corporate/Limited Liability Company Additional Limited Partner Signature Page to Amended and Restated Agreement of Limited Partnership of Lightstone Value Plus REIT II LPNew York Recovery Operating Partnership, L.P., by and among the undersigned and the other parties thereto. Dated: ____________ __, 200 20___ [Name of Corporation/LLC] By: Name: Title: Individual Additional Limited Partner Signature Page to Amended and Restated Agreement of Limited Partnership of Lightstone Value Plus REIT II LPNew York Recovery Operating Partnership, by and among the undersigned and the other parties thereto. By: Name: Dated: , 200 42 Partnership Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPL.P., by and among the undersigned and the other parties thereto. Dated: ____________ __, 200 20___ Partnership Limited Partner Signature Page to Amended and Restated Agreement of Limited Partnership of New York Recovery Operating Partnership, L.P., by and among the undersigned and the other parties thereto. Dated: ____________ __, 20___ [Name of LP] By: Name: Title: Exhibit A Partners’ Contributions and Partnership Interests Name and Address of Partner Type of Interest Capital Contribution Number of Partnership Units (“OPUs”) Percentage Interest Security Interests Lightstone Value Plus Real Estate Investment Trust IIAmerican Realty Capital New York Recovery REIT, Inc. 400 Xxxx Xxxxxx Xxx Xxxx, Xxx Xxxx 00000 General Partnership Interest $$ 200,000 20,000 99.0199.01 % Lightstone Value Plus REIT II New York Recovery Advisors, LLC 400 Xxxx Xxxxxx Xxx Xxxx, Xxx Xxxx 00000 Limited Partnership Interest $$ 2,000 200 0.990.99 % Lightstone SLP IINew York Recovery Special Limited Partnership, LLC Associate General Partnership Interest Amount will equal the offering expenses of Lightstone Value Plus Real Estate Investment Trust II400 Xxxx Xxxxxx Xxx Xxxx, Inc. 1 Associate Partnership Unit For each $100,000 Contributed Xxx Xxxx 00000 Subordinated 15% interest in distributions described in Section 5.1(b)(ii)(A) None Not applicableapplicable Not applicable Exhibit B Allocations

No Rights as Stockholders. Nothing contained in this Agreement shall be construed as conferring upon the holders of the Partnership Units any rights whatsoever as stockholders Stockholders of the General Partner, including, without limitation, including any right to receive dividends or other distributions made to shareholders Stockholders or to vote or to consent or receive notice as shareholders Stockholders in respect to any meeting or shareholders of Stockholders for the election of directors of the General Partner or any other matter. Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPInland Residential Operating Partnership, by and L.P., among the undersigned and the other parties thereto. GENERAL PARTNER: LIGHTSTONE VALUE PLUS REAL ESTATE INVESTMENT TRUST II INLAND RESIDENTIAL PROPERTIES TRUST, INC. By: Name: Xxxxx Xxxxxxxxxxxx Title: Chief Executive Officer, President and Chairman of the Board of Directors SPECIAL LIMITED PARTNER: LIGHTSTONE VALUE PLUS REIT II INLAND RESIDENTIAL PROPERTIES TRUST SPECIAL LIMITED PARTNER, LLC By: Inland Real Estate Investment Corporation, its Managing Member By: Name: Xxxxx Xxxxxxxxxxxx Title: Authorized Person ASSOCIATE GENERAL PARTNER: LIGHTSTONE SLP II, LLC By: Name: Xxxxx Xxxxxxxxxxxx Title: Authorized Person 40 Corporate/Limited Liability Company Additional Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPInland Residential Operating Partnership, by and L.P., among the undersigned and the other parties thereto. Dated: , 200 20 [Name of Corporation/LLC] By: Name: Title: Individual Additional Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPInland Residential Operating Partnership, by and among the undersigned and the other parties thereto. By: Name: Dated: L.P., 200 42 Partnership Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LP, by and among the undersigned and the other parties thereto. Dated: , 200 20 Partnership Limited Partner Signature Page to Agreement of Limited Partnership of Inland Residential Operating Partnership, L.P., among the undersigned and the other parties thereto. Dated: , 20 [Name of LP] By: Name: Title: Exhibit A Partners’ Contributions and Partnership Interests Name and Address of Partner Type of Interest Type of Unit Capital Contribution Number of Partnership Units (“OPUs”) Percentage Interest Security Interests Lightstone Value Plus Real Estate Investment Trust IIInland Residential Properties Trust, Inc. 0000 Xxxxxxxxxxx Xxxx Oak Brook, Illinois 60523 General Partnership Partner Interest $200,000 20,000 99.01GP Units $ [—] [—] [—] % Lightstone Value Plus REIT II LLC Limited Partnership Partner Interest $2,000 200 0.99Class A Units $ [—] [—] [—] % Lightstone SLP IILimited Partner Interest Class T Units $ [—] [—] [—] % Inland Residential Business Manager & Advisor, Inc. 0000 Xxxxxxxxxxx Xxxx Oak Brook, Illinois 60523 Limited Partner Xxxxxxxx Xxxxx X Xxxxx0 X/X [—] [—] % Inland Residential Properties Trust Special Limited Partner, LLC Associate General Partnership 0000 Xxxxxxxxxxx Xxxx Oak Brook, Illinois 60523 Special Limited Partner Interest Amount will equal the offering expenses of Lightstone Value Plus Real Estate Investment Trust IIN/A N/A N/A N/A 1 It is not expected that Inland Residential Business Manager & Advisor, Inc. 1 Associate Partnership Unit will be a limited partner until it is issued Class M Units in accordance with Article 15 of the Agreement. Exhibit B Allocations For each $100,000 Contributed Not applicablepurposes of this Exhibit B, the term “Partner” shall include the Special Limited Partner.

No Rights as Stockholders. Nothing contained in this Agreement shall be construed as conferring upon the holders of the Partnership Units any rights whatsoever as stockholders of the General Partner, including, without limitation, any right to receive dividends or other distributions made to shareholders or to vote or to consent or receive notice as shareholders in respect to any meeting or shareholders for the election of directors of the General Partner or any other matter. Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPAmerican Realty Capital Retail Operating Partnership, by and L.P., among the undersigned and the other parties thereto. GENERAL PARTNER: LIGHTSTONE VALUE PLUS REAL ESTATE INVESTMENT TRUST II AMERICAN REALTY CAPITAL – RETAIL CENTERS OF AMERICA, INC. By: /s/ Wxxxxxx X. Xxxxxx Name: Xxxxx Xxxxxxxxxxxx Wxxxxxx X. Xxxxxx Title: Chief Executive Officer, President and Chairman of the Board of Directors INITIAL LIMITED PARTNER: LIGHTSTONE VALUE PLUS REIT II LLC By: Name: Xxxxx Xxxxxxxxxxxx Title: Authorized Person ASSOCIATE GENERAL PARTNER: LIGHTSTONE SLP IIAMERICAN REALTY CAPITAL RETAIL ADVISOR, LLC By: American Realty Capital Retail Special Limited Partnership, LLC, its Member By: American Realty Capital IV, LLC, its Managing Member By: /s/ Nxxxxxxx X. Xxxxxxxx Name: Xxxxx Xxxxxxxxxxxx Nxxxxxxx X. Xxxxxxxx Title: Authorized Person 40 Signatory SPECIAL LIMITED PARTNER: AMERICAN REALTY CAPITAL RETAIL ADVISOR, LLC By: American Realty Capital Retail Special Limited Partnership, LLC, its Member By: American Realty Capital IV, LLC, its Managing Member By: /s/ Nxxxxxxx X. Xxxxxxxx Name: Nxxxxxxx X. Xxxxxxxx Title: Authorized Signatory Corporate/Limited Liability Company Additional Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPAmerican Realty Capital Retail Operating Partnership, by and L.P., among the undersigned and the other parties thereto. Dated: ____________ __, 200 20___ [Name of Corporation/LLC] By: Name: Title: Individual Additional Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPAmerican Realty Capital Retail Operating Partnership, by and L.P., among the undersigned and the other parties thereto. By: Name: Dated: ____________ __, 200 42 20___ Partnership Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPAmerican Realty Capital Retail Operating Partnership, by and L.P., among the undersigned and the other parties thereto. Dated: ____________ __, 200 20___ [Name of LP] By: Name: Title: Exhibit A Partners’ Contributions and Partnership Interests Name and Address of Partner Type of Interest Capital Contribution Number of Partnership Units (“OPUs”) Percentage Interest Security Interests Lightstone Value Plus Real Estate Investment Trust IIAmerican Realty Capital – Retail Centers of America, Inc. 400 Xxxx Xxxxxx General Partnership Partner Interest $$ 200,000 $ 20,000 99.0199 % Lightstone Value Plus REIT II LLC Limited Partnership Interest $2,000 200 0.99% Lightstone SLP IINxx Xxxx, Xxx Xxxx 00000 American Realty Capital Retail Advisor, LLC Associate General Partnership 400 Xxxx Xxxxxx Limited Partner Interest Amount will equal $ 2,020 202 1 % Nxx Xxxx, Xxx Xxxx 00000 American Realty Capital Retail Advisor, LLC Special Limited Partner None Not applicable Not applicable 400 Xxxx Xxxxxx Xxxxxxxx Xxx Xxxx, Xxx Xxxx 00000 Exhibit B Allocations For purposes of this Exhibit B, the offering expenses of Lightstone Value Plus Real Estate Investment Trust II, Inc. 1 Associate Partnership Unit For each $100,000 Contributed Not applicableterm “Partner” shall include the Special Limited Partner.

No Rights as Stockholders. Nothing contained in this Agreement shall be construed as conferring upon the holders of the Partnership Units any rights whatsoever as stockholders of the General Partner, including, without limitation, any right to receive dividends or other distributions made to shareholders or to vote or to consent or receive notice as shareholders in respect to any meeting or shareholders for the election of directors of the General Partner or any other matter. Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II Empire American Realty Operating Partnership, LP, by and among the undersigned and the other parties thereto. GENERAL PARTNER: LIGHTSTONE VALUE PLUS REAL ESTATE INVESTMENT TRUST II EMPIRE AMERICAN REALTY TRUST, INC. By: ________________________________ Name: Xxxxx Xxxxxxxxxxxx Xxxx Xxxxxx Title: Chief Executive Officer, President and Chairman of the Board of Directors Officer LIMITED PARTNER: LIGHTSTONE VALUE PLUS REIT II LLC By: Name: Xxxxx Xxxxxxxxxxxx Title: Authorized Person ASSOCIATE GENERAL PARTNER: LIGHTSTONE SLP IIEMPIRE AMERICAN ADVISORS, LLC By: _________________________________ Name: Xxxxx Xxxxxxxxxxxx Xxxx Xxxxxx Title: Authorized Person 40 Chief Executive Officer ASSOCIATE LIMITED PARTNER: EMPIRE AMERICAN ALP, LLC By: EAH Holdings, LLC, its sole member By: Empire American Holdings, LLC, its sole member By: EAH MN Inc., its managing member By: ________________________ Name: Xxxx Xxxxxx Title: President Corporate/Limited Liability Company Additional Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II Empire American Realty Operating Partnership, LP, by and among the undersigned and the other parties thereto. Dated: ____________ __, 200 20___ [Name of Corporation/LLC] By: _____________________________ Name: Title: Individual Additional Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPEmpire American Realty Operating Partnership, by and among the undersigned and the other parties thereto. By: Name: Dated: , 200 42 Partnership Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LP, by and among the undersigned and the other parties thereto. Dated: ____________ __, 200 20___ ______________________________________ Partnership Limited Partner Signature Page to Agreement of Limited Partnership of Empire American Realty Operating Partnership, LP, by and among the undersigned and the other parties thereto. Dated: ____________ __, 20___ [Name of LP] By: _________________________________ Name: Title: Exhibit A Partners’ Contributions and Partnership Interests Name and Address of Partner Type of Interest Capital Contribution Number of Partnership Units (“OPUs”) Percentage Interest Security Interests Lightstone Value Plus Real Estate Investment Trust IIEmpire American Realty Trust, Inc. 00 Xxxxxxx Xxxxxxx Xxxxxxxx, Xxx Xxxxxx 00000 General Partnership Interest $200,000 20,000 99.01% Lightstone Value Plus REIT II Empire American Advisors, LLC 00 Xxxxxxx Xxxxxxx Xxxxxxxx, Xxx Xxxxxx 00000 Limited Partnership Interest $2,000 200 0.99% Lightstone SLP IIEmpire American ALP, LLC Associate General Partnership Interest Amount will equal the offering expenses of Lightstone Value Plus Real Estate Investment Trust II00 Xxxxxxx Xxxxxxx Xxxxxxxx, Inc. 1 Associate Partnership Unit For each $100,000 Contributed Xxx Xxxxxx 00000 Subordinated 15% interest in distributions described in Section 5.1(b)(ii)(A) None Not applicableapplicable Not applicable Exhibit B Allocations

No Rights as Stockholders. Nothing contained in this Agreement shall be construed as conferring upon the holders of the Partnership Units any rights whatsoever as stockholders Stockholders of the General Partner, including, without limitation, including any right to receive dividends or other distributions made to shareholders Stockholders or to vote or to consent or receive notice as shareholders Stockholders in respect to any meeting or shareholders Stockholders for the election of directors of the General Partner or any other matter. Signature Page to Amended and Restated Agreement of Limited Partnership of Lightstone Value Plus REIT II LPPreferred Apartment Communities Operating Partnership, by and L.P., among the undersigned and the other parties thereto. GENERAL PARTNER: LIGHTSTONE VALUE PLUS REAL ESTATE INVESTMENT TRUST II PREFERRED APARTMENT COMMUNITIES, INC. By: Name: Xxxxx Xxxxxxxxxxxx Title: INITIAL LIMITED PARTNER: PREFERRED APARTMENT ADVISORS, LLC By: XXXX Partners, Inc., its Member By: Name: Xxxx X. Xxxxxxxx Title: Chief Executive Officer, President and Chairman of the Board of Directors Officer SPECIAL LIMITED PARTNER: LIGHTSTONE VALUE PLUS REIT II PREFERRED APARTMENT ADVISORS, LLC By: XXXX Partners, Inc., its Member By: Name: Xxxxx Xxxxxxxxxxxx Xxxx X. Xxxxxxxx Title: Authorized Person ASSOCIATE GENERAL PARTNER: LIGHTSTONE SLP II, LLC By: Name: Xxxxx Xxxxxxxxxxxx Title: Authorized Person 40 Chief Executive Officer Corporate/Limited Liability Company Additional Limited Partner Signature Page to Amended and Restated Agreement of Limited Partnership of Lightstone Value Plus REIT II LPPreferred Apartment Communities Operating Partnership, by and L.P., among the undersigned and the other parties thereto. Dated: ____________ __, 200 20___ [Name of Corporation/LLC] By: Name: Title: Individual Additional Limited Partner Signature Page to Amended and Restated Agreement of Limited Partnership of Lightstone Value Plus REIT II LPPreferred Apartment Communities Operating Partnership, by and among the undersigned and the other parties thereto. By: Name: Dated: L.P., 200 42 Partnership Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LP, by and among the undersigned and the other parties thereto. Dated: ____________ __, 200 20___ Partnership Limited Partner Signature Page to Amended and Restated Agreement of Limited Partnership of Preferred Apartment Communities Operating Partnership, L.P., among the undersigned and the other parties thereto. Dated: ____________ __, 20___ [Name of LP] By: Name: Title: Exhibit A Partners’ Contributions and Partnership Interests Name and Address of Partner Type of Interest Capital Contribution Number of Partnership Units (“OPUs”) Percentage Interest Security Interests Lightstone Value Plus Real Estate Investment Trust IIPreferred Apartment Communities, Inc. 0000 Xxxxxxxxxx Xxxxxxxxx Xxxxx 000 Xxxxxxx, Xxxxxxx 00000 General Partnership Partner Interest $200,000 20,000 99.01$ 109,998 10,999.8 99.999 % Lightstone Value Plus REIT II LLC Limited Partnership Interest $2,000 200 0.99% Lightstone SLP IIPreferred Apartment Advisors, LLC Associate General Partnership 0000 Xxxxxxxxxx Xxxxxxxxx Xxxxx 000 Xxxxxxx, Xxxxxxx 00000 Limited Partner Interest Amount will equal $ 1 0.1 0.001 % Preferred Apartment Advisors, LLC 0000 Xxxxxxxxxx Xxxxxxxxx Xxxxx 000 Xxxxxxx, Xxxxxxx 00000 Special Limited Partner Interest None Not applicable Not applicable Exhibit B Allocations For purposes of this Exhibit B, the offering expenses of Lightstone Value Plus Real Estate Investment Trust II, Inc. 1 Associate Partnership Unit For each $100,000 Contributed Not applicableterm “Partner” shall include the Special Limited Partner.

No Rights as Stockholders. Nothing contained in this Agreement shall be construed as conferring upon the holders of the Partnership Units any rights whatsoever as stockholders of the General Partner, including, without limitation, any right to receive dividends or other distributions made to shareholders or to vote or to consent or receive notice as shareholders in respect to any meeting or shareholders for the election of directors of the General Partner or any other matter. Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPAmerican Realty Capital Operating Partnership II, by and L.P., among the undersigned and the other parties thereto. GENERAL PARTNER: LIGHTSTONE VALUE PLUS REAL ESTATE INVESTMENT AMERICAN REALTY CAPITAL TRUST II II, INC. By: Name: Xxxxx Xxxxxxxxxxxx Title: Chief Executive Officer, President and Chairman of the Board of Directors INITIAL LIMITED PARTNER: LIGHTSTONE VALUE PLUS REIT II LLC By: Name: Xxxxx Xxxxxxxxxxxx Title: Authorized Person ASSOCIATE GENERAL PARTNER: LIGHTSTONE SLP AMERICAN REALTY CAPITAL ADVISORS II, LLC By: American Realty Capital Trust II Special Limited Partner, LLC, its Member By: American Realty Capital II, LLC, its Managing Member By: Name: Xxxxx Xxxxxxxxxxxx Title: Authorized Person 40 SPECIAL LIMITED PARTNER: AMERICAN REALTY CAPITAL TRUST II SPECIAL LIMITED PARTNER, LLC By: American Realty Capital II, LLC, its Managing Member By: Name: Title: Corporate/Limited Liability Company Additional Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPAmerican Realty Capital Operating Partnership II, by and L.P., among the undersigned and the other parties thereto. Dated: ____________ __, 200 20___ [Name of Corporation/LLC] By: Name: Title: Individual Additional Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPAmerican Realty Capital Operating Partnership II, by and L.P., among the undersigned and the other parties thereto. By: Name: Dated: ____________ __, 200 42 20___ Partnership Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPAmerican Realty Capital Operating Partnership II, by and L.P., among the undersigned and the other parties thereto. Dated: ____________ __, 200 20___ [Name of LP] By: Name: Title: Exhibit A Partners’ Contributions and Partnership Interests Name and Address of Partner Type of Interest Capital Contribution Number of Partnership Units (“OPUs”) Percentage Interest Security Interests Lightstone Value Plus Real Estate Investment American Realty Capital Trust II, Inc. 000 Xxxx Xxxxxx Xxx Xxxx, Xxx Xxxx 00000 General Partnership Interest $$ 200,000 20,000 99.0199 % Lightstone Value Plus REIT II American Realty Capital Advisors II, LLC 000 Xxxx Xxxxxx Xxx Xxxx, Xxx Xxxx 00000 Limited Partnership Interest $2,000 200 0.99$ 2,020 202 1 % Lightstone SLP IIAmerican Realty Capital Trust II Special Limited Partner, LLC Associate General Partnership Interest Amount will equal the offering expenses of Lightstone Value Plus Real Estate Investment Trust II000 Xxxx Xxxxxx Xxx Xxxx, Inc. 1 Associate Partnership Unit For each $100,000 Contributed Xxx Xxxx 00000 Subordinated 15% interest in distributions described in Sections 5.1(b), 5.1(c) and 5.1(d) None Not applicableapplicable Not applicable Exhibit B Allocations

No Rights as Stockholders. Nothing contained in this Agreement shall be construed as conferring upon the holders of the Partnership Units any rights whatsoever as stockholders Stockholders of the General Partner, including, without limitation, including any right to receive dividends or other distributions made to shareholders Stockholders or to vote or to consent or receive notice as shareholders Stockholders in respect to any meeting or shareholders of Stockholders for the election of directors of the General Partner or any other matter. Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPInland Residential Operating Partnership, by and L.P., among the undersigned and the other parties thereto. GENERAL PARTNER: LIGHTSTONE VALUE PLUS REAL ESTATE INVESTMENT TRUST II INLAND RESIDENTIAL PROPERTIES TRUST, INC. By: Name: Xxxxx Xxxxxxxxxxxx X. Xxxxxxxxxx Title: Vice President, Treasurer and Chief Executive Officer, President and Chairman of the Board of Directors Accounting Officer SPECIAL LIMITED PARTNER: LIGHTSTONE VALUE PLUS REIT II INLAND RESIDENTIAL PROPERTIES TRUST SPECIAL LIMITED PARTNER, LLC By: Inland Real Estate Investment Corporation, its Managing Member By: Name: Xxxxx Xxxxxxxxxxxx Title: Authorized Person ASSOCIATE GENERAL PARTNER: LIGHTSTONE SLP II, LLC By: Name: Xxxxx Xxxxxxxxxxxx Title: Authorized Person 40 Corporate/Limited Liability Company Additional Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPInland Residential Operating Partnership, by and L.P., among the undersigned and the other parties thereto. Dated: , 200 20 [Name of Corporation/LLC] By: Name: Title: Individual Additional Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPInland Residential Operating Partnership, by and among the undersigned and the other parties thereto. By: Name: Dated: L.P., 200 42 Partnership Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LP, by and among the undersigned and the other parties thereto. Dated: , 200 20 Partnership Limited Partner Signature Page to Agreement of Limited Partnership of Inland Residential Operating Partnership, L.P., among the undersigned and the other parties thereto. Dated: , 20 [Name of LP] By: Name: Title: Exhibit A Partners’ Contributions and Partnership Interests Name and Address of Partner Type of Interest Type of Unit Capital Contribution Number of Partnership Units (“OPUs”) Percentage Interest Security Interests Lightstone Value Plus Real Estate Investment Trust IIInland Residential Properties Trust, Inc. 0000 Xxxxxxxxxxx Xxxx Oak Brook, Illinois 60523 General Partnership Partner Interest $200,000 20,000 99.01GP Units $ [—] [—] [—] % Lightstone Value Plus REIT II LLC Limited Partnership Partner Interest $2,000 200 0.99Class A Units $ [—] [—] [—] % Lightstone SLP IILimited Partner Interest Class T Units $ [—] [—] [—] % Inland Residential Business Manager & Advisor, Inc. 0000 Xxxxxxxxxxx Xxxx Oak Brook, Illinois 60523 Limited Partner Xxxxxxxx Xxxxx X Xxxxx0 X/X [—] [—] % Inland Residential Properties Trust Special Limited Partner, LLC Associate General Partnership 0000 Xxxxxxxxxxx Xxxx Oak Brook, Illinois 60523 Special Limited Partner Interest Amount will equal the offering expenses of Lightstone Value Plus Real Estate Investment Trust IIN/A N/A N/A N/A 1 It is not expected that Inland Residential Business Manager & Advisor, Inc. 1 Associate Partnership Unit will be a limited partner until it is issued Class M Units in accordance with Article 15 of the Agreement. Exhibit B Allocations For each $100,000 Contributed Not applicablepurposes of this Exhibit B, the term “Partner” shall include the Special Limited Partner.

No Rights as Stockholders. Nothing contained in this Agreement shall be construed as conferring upon the holders of the Partnership Units any rights whatsoever as stockholders of the General Partner, including, without limitation, any right to receive dividends or other distributions made to shareholders or to vote or to consent or receive notice as shareholders in respect to any meeting or shareholders for the election of directors of the General Partner or any other matter. Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPNew York Recovery Operating Partnership, L.P., by and among the undersigned and the other parties thereto. GENERAL PARTNER: LIGHTSTONE VALUE PLUS REAL ESTATE INVESTMENT TRUST II AMERICAN REALTY CAPITAL NEW YORK RECOVERY REIT, INC. By: Name: Xxxxx Xxxxxxxxxxxx Title: Chief Executive Officer, President and Chairman of the Board of Directors LIMITED PARTNER: LIGHTSTONE VALUE PLUS REIT II LLC By: Name: Xxxxx Xxxxxxxxxxxx Title: Authorized Person ASSOCIATE GENERAL PARTNER: LIGHTSTONE SLP IINEW YORK RECOVERY ADVISORS, LLC By: Name: Xxxxx Xxxxxxxxxxxx Title: Authorized Person 40 SPECIAL LIMITED PARTNER: NEW YORK RECOVERY SPECIAL LIMITED PARTNERSHIP, LLC By: Name: Title: Corporate/Limited Liability Company Additional Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPNew York Recovery Operating Partnership, L.P., by and among the undersigned and the other parties thereto. Dated: ____________ __, 200 20___ [Name of Corporation/LLC] By: Name: Title: Individual Additional Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPNew York Recovery Operating Partnership, by and among the undersigned and the other parties thereto. By: Name: Dated: , 200 42 Partnership Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPL.P., by and among the undersigned and the other parties thereto. Dated: ____________ __, 200 20___ Partnership Limited Partner Signature Page to Agreement of Limited Partnership of New York Recovery Operating Partnership, L.P., by and among the undersigned and the other parties thereto. Dated: ____________ __, 20___ [Name of LP] By: Name: Title: Exhibit A Partners’ Contributions and Partnership Interests Name and Address of Partner Type of Interest Capital Contribution Number of Partnership Units (“OPUs”) Percentage Interest Security Interests Lightstone Value Plus Real Estate Investment Trust IIAmerican Realty Capital New York Recovery REIT, Inc. $ 200,000 20,000 99.01 % General Partnership Interest $200,000 20,000 99.01400 Xxxx Xxxxxx Xxxxxxxx Xxx Xxxx, Xxx Xxxx 00000 New York Recovery Advisors, LLC $ 2,000 200 0.99 % Lightstone Value Plus REIT II LLC Limited Partnership Interest $2,000 200 0.99400 Xxxx Xxxxxx Xxxxxxxx Xxx Xxxx, Xxx Xxxx 00000 New York Recovery Special Subordinated 15% Lightstone SLP IINone Not applicable Not applicable Limited Partnership, LLC Associate General Partnership Interest Amount will equal the offering expenses of Lightstone Value Plus Real Estate Investment Trust IIinterest in distributions described in Section 400 Xxxx Xxxxxx 0.0(x)(xx)(X) Xxx Xxxx, Inc. 1 Associate Partnership Unit For each $100,000 Contributed Not applicableXxx Xxxx 00000 Exhibit B Allocations

No Rights as Stockholders. Nothing contained in this Agreement shall be construed as conferring upon the holders of the Partnership Units any rights whatsoever as stockholders of the General Partner, including, without limitation, any right to receive dividends or other distributions made to shareholders or to vote or to consent or receive notice as shareholders in with respect to any meeting or shareholders for the election of directors of the General Partner or any other matter. Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPCorporate Income Properties – ARC Operating Partnership, by and L.P., among the undersigned and the other parties thereto. GENERAL PARTNER: LIGHTSTONE VALUE PLUS REAL ESTATE INVESTMENT TRUST II CORPORATE INCOME PROPERTIES – ARC, INC. By: Name: Xxxxx Xxxxxxxxxxxx Gxxxxx X. XxXxx Title: Chairman and Chief Executive Officer, President and Chairman of the Board of Directors Officer INITIAL LIMITED PARTNER: LIGHTSTONE VALUE PLUS REIT II CORPORATE INCOME PROPERTIES – ARC SPECIAL LIMITED PARTNERSHIP, LLC By: Northcliffe Asset Management U.S., LLC, its Member By: Name: Xxxxx Xxxxxxxxxxxx Title: Authorized Person ASSOCIATE GENERAL By: American Realty Capital II, LLC, its Member By: Name: Title: SPECIAL LIMITED PARTNER: LIGHTSTONE SLP IICORPORATE INCOME PROPERTIES – ARC SPECIAL LIMITED PARTNERSHIP, LLC By: Northcliffe Asset Management U.S., LLC, its Member By: Name: Xxxxx Xxxxxxxxxxxx Gxxxxx X. XxXxx Title: Authorized Person 40 Chairman and Chief Executive Officer By: American Realty Capital II, LLC, its Member By: Name: Nxxxxxxx X. Xxxxxxxx Title: Corporate/Limited Liability Company Additional Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPCorporate Income Properties – ARC Operating Partnership, by and L.P., among the undersigned and the other parties thereto. Dated: ____________ __, 200 20___ [Name of Corporation/LLC] By: Name: Title: Individual Additional Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPCorporate Income Properties - ARC Operating Partnership, by and L.P., among the undersigned and the other parties thereto. By: Name: Dated: ____________ __, 200 42 20___ Partnership Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPCorporate Income Properties - ARC Operating Partnership, by and L.P., among the undersigned and the other parties thereto. Dated: ____________ __, 200 20___ [Name of LP] By: Name: Title: Exhibit A Partners’ Contributions and Partnership Interests Name and Address of Partner Type of Interest Capital Contribution Number of Partnership Units (“OPUs”) Percentage Interest Security Interests Lightstone Value Plus Real Estate Investment Trust IICorporate Income Properties – ARC, Inc. 400 Xxxx Xxxxxx Xxx Xxxx, Xxx Xxxx 00000 General Partnership Interest $$ 200,000 20,000 99.01100 % Lightstone Value Plus REIT II Corporate Income Properties – ARC Special Limited Partnership, LLC 400 Xxxx Xxxxxx Xxx Xxxx, Xxx Xxxx 00000 Special Limited Partnership Interest $2,000 200 0.99% Lightstone SLP II, LLC Associate General Partnership Interest Amount will equal the offering expenses of Lightstone Value Plus Real Estate Investment Trust II, Inc. 1 Associate Partnership Unit For each $100,000 Contributed None Not applicableapplicable Not applicable Exhibit B Allocations

No Rights as Stockholders. Nothing contained in this Agreement shall be construed as conferring upon the holders of the Partnership Units any rights whatsoever as stockholders of the General Partner, including, without limitation, any right to receive dividends or other distributions made to shareholders or to vote or to consent or receive notice as shareholders in respect to any meeting or shareholders for the election of directors of the General Partner or any other matter. Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPAmerican Realty Capital Global Operating Partnership, by and L.P., among the undersigned and the other parties thereto. GENERAL PARTNER: LIGHTSTONE AMERICAN REALTY CAPITAL GLOBAL DAILY NET ASSET VALUE PLUS REAL ESTATE INVESTMENT TRUST II TRUST, INC. By: Name: Xxxxx Xxxxxxxxxxxx Nxxxxxxx X. Xxxxxxxx Title: Chief Executive OfficerChairman, President and Chairman of the Board of Directors Chief Executive Officer INITIAL LIMITED PARTNER: LIGHTSTONE VALUE PLUS REIT II AMERICAN REALTY CAPITAL GLOBAL SPECIAL LIMITED PARTNERSHIP, LLC By: American Realty Capital II, LLC, its Member By: Name: Xxxxx Xxxxxxxxxxxx Title: Authorized Person ASSOCIATE GENERAL SPECIAL LIMITED PARTNER: LIGHTSTONE SLP IIAMERICAN REALTY CAPITAL GLOBAL SPECIAL LIMITED PARTNERSHIP, LLC By: American Realty Capital II, LLC, its Member By: Name: Xxxxx Xxxxxxxxxxxx Title: Authorized Person 40 Corporate/Limited Liability Company Additional Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPAmerican Realty Capital Global Operating Partnership, by and L.P., among the undersigned and the other parties thereto. Dated: ____________ __, 200 20___ [Name of Corporation/LLC] By: Name: Title: Individual Additional Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPAmerican Realty Capital Global Operating Partnership, by and L.P., among the undersigned and the other parties thereto. By: Name: Dated: ____________ __, 200 42 20___ Partnership Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPAmerican Realty Capital Global Operating Partnership, by and L.P., among the undersigned and the other parties thereto. Dated: ____________ __, 200 20___ [Name of LP] By: Name: Title: Exhibit A Partners’ Contributions and Partnership Interests Name and Address of Partner Type of Interest Capital Contribution Number of Partnership Units (“OPUs”) Percentage Interest Security Interests Lightstone American Realty Capital Global Daily Net Asset Value Plus Real Estate Investment Trust IITrust, Inc. 400 Xxxx Xxxxxx Xxx Xxxx, Xxx Xxxx 00000 General Partnership Interest $$ 200,000 20,000 99.01100 % Lightstone Value Plus REIT II American Realty Capital Global Special Limited Partnership, LLC 400 Xxxx Xxxxxx Xxx Xxxx, Xxx Xxxx 00000 Special Limited Partnership Interest $2,000 200 0.99% Lightstone SLP II, LLC Associate General Partnership Interest Amount will equal the offering expenses of Lightstone Value Plus Real Estate Investment Trust II, Inc. 1 Associate Partnership Unit For each $100,000 Contributed None Not applicableapplicable Not applicable Exhibit B Allocations

No Rights as Stockholders. Nothing contained in this Agreement shall be construed as conferring upon the holders of the Partnership Units any rights whatsoever as stockholders of the General Partner, including, without limitation, any right to receive dividends or other distributions made to shareholders or to vote or to consent or receive notice as shareholders in respect to any meeting or shareholders for the election of directors of the General Partner or any other matter. Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPAmerican Realty Capital Healthcare Trust Operating Partnership, by and L.P., among the undersigned and the other parties thereto. GENERAL PARTNER: LIGHTSTONE VALUE PLUS REAL ESTATE INVESTMENT TRUST II AMERICAN REALTY CAPITAL HEALTHCARE TRUST, INC. By: Name: Xxxxx Xxxxxxxxxxxx Title: Chief Executive Officer, President and Chairman of the Board of Directors INITIAL LIMITED PARTNER: LIGHTSTONE VALUE PLUS REIT II AMERICAN REALTY CAPITAL HEALTHCARE ADVISORS, LLC By: American Realty Capital Healthcare Special Limited Partnership, LLC, its Member By: American Realty Capital V, LLC, its Managing Member By: Name: Xxxxx Xxxxxxxxxxxx Title: Authorized Person ASSOCIATE GENERAL SPECIAL LIMITED PARTNER: LIGHTSTONE SLP IIAMERICAN REALTY CAPITAL HEALTHCARE SPECIAL LIMITED PARTNERSHIP, LLC By: American Realty Capital V, LLC, its Managing Member By: Name: Xxxxx Xxxxxxxxxxxx Title: Authorized Person 40 Corporate/Limited Liability Company Additional Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPAmerican Realty Capital Healthcare Trust Operating Partnership, by and L.P., among the undersigned and the other parties thereto. Dated: , 200 [Name of Corporation/LLC] Dated: ____________ __, 20___ By: Name: Title: Individual Additional Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPAmerican Realty Capital Healthcare Trust Operating Partnership, by and L.P., among the undersigned and the other parties thereto. By: Name: Dated: ____________ __, 200 42 20___ Partnership Limited Partner Signature Page to Agreement of Limited Partnership of Lightstone Value Plus REIT II LPAmerican Realty Capital Healthcare Trust Operating Partnership, by and L.P., among the undersigned and the other parties thereto. Dated: , 200 [Name of LP] Dated: ____________ __, 20___ By: Name: Title: Exhibit A Partners’ Contributions and Partnership Interests Name and Address of Partner Type of Interest Capital Contribution Number of Partnership Units (“OPUs”) Percentage Interest Security Interests Lightstone Value Plus Real Estate Investment Trust IIAmerican Realty Capital Healthcare Trust, Inc. 400 Xxxx Xxxxxx Xxx Xxxx, Xxx Xxxx 00000 General Partnership Interest $200,000 20,000 99.0199% Lightstone Value Plus REIT II American Realty Capital Healthcare Advisors, LLC 400 Xxxx Xxxxxx Xxx Xxxx, Xxx Xxxx 00000 Limited Partnership Interest $2,000 200 0.992,020 202 1% Lightstone SLP IIAmerican Realty Capital Healthcare Special Limited Partnership, LLC Associate General Partnership Interest Amount will equal 400 Xxxx Xxxxxx Xxx Xxxx, Xxx Xxxx 00000 Subordinated 15% interest in distributions described in Sections 5.1(b), 5.1(c) and 5.1(d) None Not applicable Not applicable Exhibit B Allocations For purposes of this Exhibit B, the offering expenses of Lightstone Value Plus Real Estate Investment Trust II, Inc. 1 Associate Partnership Unit For each $100,000 Contributed Not applicableterm “Partner” shall include the Special Limited Partner.