Item 1.01 Entry into a Marital Definitive Agreement. On December 10, 2020, Gladstone Land Limited Partnership (the "Operating Partnership"), a wholly-owned subsidiary of Gladstone Land Corporation ("Gladstone Land"), through Gladstone Lending Company, LLC (the "Borrower"), a wholly-owned subsidiary of the Operating Partnership (the Borrower, together with the Operating Partnership and Gladstone Land, collectively, the "Company"), entered into an amended and restated bond purchase agreement (the "Amended and Restated Bond Purchase Agreement") with Federal Agricultural Mortgage Corporation ("Farmer Mac") and Farmer Mac Mortgage Securities Corporation (the "Bond Purchaser"), increasing the secured note purchase facility to provide for bond issuances up to an aggregate principal amount of $225.0 million (the "Farmer Mac Facility"). In addition, the Amended and Restated Bond Purchase Agreement extended the date up to which the Company can issue new bonds to May 31, 2023 and final maturity date for bonds issued under the Farmer Mac Facility to December 31, 2030. The Amended and Restated Bond Purchase Agreement also included certain adjustments to the Fixed Charge Coverage Ratio definition and the Fixed Charge Ratio Covenant. All other terms of the Bond Purchase Agreement remained the same. All capitalized terms not defined in this Current Report on Form 8-K are defined in the Amended and Restated Bond Purchase Agreement.

In connection with the Amended and Restated Bond Purchase Agreement, on December 10, 2020, the Borrower also entered into an amended and restated pledge and security agreement (the "Amended and Restated Pledge and Security Agreement") in favor of the Bond Purchaser and Farmer Mac, which provides for the Borrower to pledge, as collateral for bonds issued pursuant to the Farmer Mac Facility. All terms of the Pledge and Security Agreement remained the same.

The Amended and Restated Bond Purchase Agreement and the Amended and Restated Pledge Agreement continue to include customary events of default, the occurrence of any of which, after any applicable cure period, would permit the Bond Purchaser and Farmer Mac to, among other things, accelerate payment of all amounts outstanding under the Farmer Mac Facility and to exercise its remedies with respect to the pledged collateral, including foreclosure and sale of the agricultural real estate underlying the pledged mortgage loans.

The foregoing summaries of the Amended and Restated Bond Purchase Agreement and the Amended and Restated Pledge and Security Agreement are qualified in their entirety by reference to the Amended and Restated Bond Purchase Agreement and the Amended and Restated Pledge and Security Agreement, copies of which are attached as Exhibits 10.1 and 10.2 hereto and are incorporated herein by reference. Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information set forth in Item 1.01 is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.



(d) Exhibits.
 Exhibit No.                                    Description
     10.1           Amended and Restated AgVantage Bond Purchase Agreement, dated as of
                  December 10, 2020, by and among Gladstone Lending Company, LLC, as
                  Issuer, Farmer Mac Mortgage Securities Corporation, as Bond Purchaser,
                  and Federal Agricultural Mortgage Corporation, as Guarantor.
     10.2           Amended and Restated Pledge and Security Agreement, dated as of
                  December 10, 2020, by and among Gladstone Lending Company, LLC, as
                  Grantor, Farmer Mac Mortgage Securities Corporation, as Purchaser, and
                  Federal Agricultural Mortgage Corporation, as Collateral Agent and Bond
                  Guarantor.
     104          Cover Page Interactive Data File (embedded within the Inline XBRL
                  document)

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