NNN’s ability to amend loan documents, assign the loans, accept prepayments, exercise remedies and control decisions made  in bankruptcy proceedings relating to borrowers. Bankruptcy proceedings and litigation can significantly increase the time  needed for NNN to acquire underlying collateral, if any, in the event of a default, during which time the collateral may decline  in value. In addition, there are significant costs and delays associated with the foreclosure process. NNN’s rights and obligations with respect to its leases, mortgage loans or other loans are governed by written agreements. A  court could determine that one or more provisions of such an agreement are unenforceable, such as a particular remedy, a loan  prepayment provision or a provision governing NNN’s security interest in the underlying collateral of a borrower or lessee.  NNN could be adversely impacted if this were to happen with respect to an asset or group of assets. Joint ventures or partnerships involve risks not otherwise present for direct investments by NNN. It is possible that NNN’s co- venturers or partners may have different interests or goals than NNN at any time and they may take actions contrary to NNN’s  requests, policies or objectives, including NNN’s policy with respect to maintaining its qualification as a REIT. Other risks of  joint venture or partnership investments include impasses on decisions because in some instances no single co-venturer or  partner has full control over the joint venture or partnership, respectively, or the co-venturer or partner may become insolvent,  bankrupt or otherwise unable to contribute to the joint venture or partnership, respectively. Further, disputes may develop with  a co-venturer or partner over decisions affecting the property, joint venture or partnership that may result in litigation,  arbitration or some other form of dispute resolution. NNN may not complete suitable property acquisitions or developments on advantageous terms, if at all, due to competition for  such properties with others engaged in real estate investment activities or lack of properties for sale on terms deemed  acceptable to NNN. NNN’s inability to successfully acquire or develop new properties may affect NNN’s ability to achieve  anticipated return on investment or realize its investment strategy, which could have an adverse effect on its results of  operations. NNN is dependent on the efforts of its key management. Competition for senior management personnel can be intense and  NNN may not be able to retain its key management. Although NNN believes qualified replacements could be found for any  departures of key management, the loss of their services could adversely affect NNN's performance and the value of its  common stock. NNN’s properties are generally covered by comprehensive liability, fire, and extended insurance coverage. NNN believes that  the insurance carried on its properties is adequate and in accordance with industry standards. There are, however, types of  losses (such as from hurricanes, earthquakes or other types of natural disasters or wars or other acts of violence) which may be  uninsurable, or the cost of insuring against these losses may not be economically justifiable. If an uninsured loss occurs or a  loss exceeds policy limits, NNN could lose both its invested capital and anticipated revenues from the property, thereby  reducing NNN’s cash flow and asset value. Uninsured losses may adversely affect NNN’s operating results and asset values. NNN's loss of key management personnel could adversely affect performance and the value of its common stock. Competition from numerous other REITs, commercial developers, real estate limited partnerships and other investors may  impede NNN’s ability to grow. Property ownership through joint ventures and partnerships could limit NNN’s control of those investments. Certain provisions of NNN’s leases or loan agreements may be unenforceable.  10