Note N  Merger On May 26, 2017, the Company, MVP REIT II, MVP Merger Sub, LLC, a Delaware limited liability company and a wholly-owned subsidiary of MVP REIT II (Merger Sub), and the Advisor, entered into an agreement and plan of merger (the Merger Agreement). Subject to the terms and conditions of the Merger Agreement, the Company will merge with and into Merger Sub (the Merger), with Merger Sub surviving the Merger (the Surviving Entity), such that following the Merger, the Surviving Entity will continue as a wholly owned subsidiary of MVP REIT II. The Merger is intended to qualify as a reorganization under, and within the meaning of, Section 368(a) of the Internal Revenue Code of 1986, as amended (the Code). Subject to the terms and conditions of the Merger Agreement, at the effective time of the Merger, each outstanding share of the Companys common stock, $0.001 par value per share (the Company Common Stock), will be automatically cancelled and retired, and converted into the right to receive 0.365 shares of common stock, $0.0001 par value per share, of MVP REIT II (MVP REIT II Common Stock) (such ratio, as it may be adjusted pursuant to the Merger Agreement, the Exchange Ratio). Holders of shares of Company Common Stock will receive cash in lieu of fractional shares. At the effective time of the Merger each share of Company Common Stock, if any, then held by any wholly owned subsidiary of the Company or by MVP REIT II or any of its wholly owned subsidiaries will no longer be outstanding and will automatically be retired and will cease to exist, and no consideration will be paid, nor will any other payment or right inure or be made with respect to such shares of Company Common Stock in connection with or as a consequence of the Merger. In addition, each share of the Companys Non-Participating, Non-Voting Convertible Stock, $0.001 par value per share (Company Convertible Stock), all 1,000 of which are held by the Advisor, will automatically be retired and will cease to exist, and no cons