STRATEGIC STUDENT & SENIOR HOUSING TRUST, INC.
June 21, 2019
Page 2
| 3. | the form of the Articles Supplementary to the Second Articles of Amendment and Restatement of the Company (the “Articles Supplementary,” and, together with the Charter, the “Amended Charter”), to be filed with the SDAT on or prior to the effective date of the above-referenced Registration Statement; |
| 4. | the bylaws of the Company, certified as of the date hereof by an officer of the Company; |
| 5. | a certificate of the SDAT as to the good standing of the Company, dated as of a recent date; |
| 6. | the Company’s Amended and Restated Distribution Reinvestment Plan dated May 1, 2018 (the “DRP”). |
| 7. | the form of the new Second Amended and Restated Distribution Reinvestment Plan (the “ Second Amended and Restated DRP”), attached as Appendix B to the prospectus in the Registration Statement; |
| 8. | resolutions adopted by the Board of Directors of the Company relating to the registration, sale and issuance of the Shares and the adoption of the DRP and the Second Amended and Restated DRP (the “Resolutions”), certified as of the date hereof by an officer of the Company; and |
| 9. | such other documents and matters, certified or otherwise identified to our satisfaction, as we have deemed necessary or appropriate to express the opinions set forth below, subject to the assumptions, limitations and qualifications stated in this Opinion Letter. |
In expressing the opinions set forth below, we have assumed, with your consent, the following:
A. We have assumed the completeness and authenticity of all documents submitted to us as originals, the completeness and conformity to the originals of all documents submitted to us as copies thereof, the genuineness of all signatures, the legal capacity and mental competence of natural persons, and that all information contained in all documents reviewed by us is true, correct and complete.
B. As to any facts material to our opinions, we have made no independent investigation or verification of such facts and have relied, to the extent that we deem such reliance proper, upon certificates and oral or written statements and other information of or from public officials and officers and representatives of the Company.
C. The Shares will not be issued or transferred in violation of any restriction or limitation on transfer and ownership of shares of stock of the Company contained in the Amended Charter.
D. The Articles Supplementary, in substantially the form examined by us, shall have been timely filed with the SDAT in the form and manner required by law.
E. The Second Amended and Restated DRP, in substantially the form examined by us, will become effective on or prior to the date that the first distributions are paid to a holder of Class Y common stock or Class Z common stock.
Based upon the foregoing, and subject to the assumptions, limitations and qualifications stated in this Opinion Letter, it is our opinion that the Shares have been duly authorized and, upon issuance and delivery of the Shares against payment therefor in the manner contemplated by the Resolutions, the Amended Charter, the DRP, the Second Amended and Restated DRP and the Registration Statement, and in accordance with applicable Blue Sky laws, will be validly issued, fully paid andnon-assessable. No opinion is expressed in this Opinion Letter as to any matter other than the legality of the Shares.