Letter Agreement dated September 28, 2017 by and among Cole Corporate Income Operating Partnership III, L.P., JPMorgan Chase Bank, N.A., as Administrative Agent and a Lender, and KeyBank National Association, as a Lender

Ladies and Gentlemen:

All capitalized terms in this letter that are not herein defined, shall be as defined in the Credit Agreement.

By this letter, the Borrower hereby requests the approval and agreement of the Administrative Agent and Lenders of the following:

By Borrower's signature below, Borrower hereby approves and agrees to the items set forth above. By your respective signatures below, you hereby approve and agree to the items set forth above. Our respective approvals and agreements shall be limited to only the foregoing items and shall not modify, amend or waive any other term or provision of the Credit Agreement or any of the other Loan Documents. The approvals and agreements of the Borrower, Administrative Agent and Lenders below, and the Acknowledgement and Agreement of Guarantors may be executed in counterparts.

Very truly yours,

Each of the undersigned hereby acknowledges and consents to the foregoing and agrees that that the foregoing shall not in any way limit or reduce any of its respective liabilities and obligations pursuant to the Mortgage Instrument, the Guaranty or any other Loan Document previously executed by the undersigned. Executed as of the date first set forth above.