On June 11, 2021, Power REIT, through a wholly owned subsidiary of the Trust, in connection with the acquisition of a 9.35 acre property located in Craig County, Oklahoma, entered into a 20 year triple-net lease with VinCann, LLC. The Lease provides that the Tenant is responsible for paying all expenses related to the Property, including maintenance expenses, insurance and taxes. The Lease requires the Tenant to maintain a medical cannabis license and operate in accordance with all Oklahoma regulations with respect to its operations. As part of the Lease, Power REIT agreed to fund approximately $550,000 of property improvements. The Lease is structured whereby after an initial deferred rent period, the rental payments provide PropCo with a full return of its original invested capital over the next three years and thereafter, provide an approximately 13.0% return increasing 3% rate per annum. The Lease requires VC to pay all property related expenses including maintenance, insurance, and taxes. After the initial 20-year term, the Lease provides two, five-year renewal options and has a personal guarantee from an owner of VC. As mandated by the Lease, VC will maintain a medical marijuana license and will operate in accordance with all Oklahoma and municipal regulations. The Lease also prohibits the retail sale of cannabis at the Property. After an initial deferred rent period to allow for renovations, the Lease stipulates rental payments that provide PropCo with a full return of its invested capital over the next three years, and thereafter, provides an approximately 13% yield increasing thereafter at a rate of 3% per annum. The Lease, as structured, provides straight-line annual rent of approximately $503,000, representing an unleveraged Core FFO yield of approximately 19% on the invested capital.