Exhibit
10.3


 


GUARANTY


 


THIS
GUARANTY (“Guaranty”), dated as of November 14, 2022, is made by Lemon Glow Company, Inc., a California corporation
(the “Guarantor”), in favor of Mast Hill Fund, L.P., a Delaware limited partnership (the “Lender”) (together
with the Guarantor, the “Parties”).


 


W
I T N E S S E T H:


 


WHEREAS,
Lender is making a loan (the “Loan”) to SUGARMADE, INC., a Delaware corporation (“Borrower”), pursuant to that
certain promissory note in the principal amount of $532,000.00 (the “Note”) (as the same may be amended, replaced, renewed,
extended or otherwise modified from time to time) (a copy of which is attached hereto as Exhibit “A”), by and between Lender
and Borrower, dated on or around November 14, 2022 (as the same may be amended or modified from time to time, the “Loan Agreements”).


 


WHEREAS,
as a condition to making the Loan and accepting the Note, Lender has required that Guarantor execute and deliver this Guaranty. Guarantor
is willing to execute and deliver this Guaranty for the express and intended purpose of inducing Lender to make the Loan and accept the
Note.


 


WHEREAS,
Guarantor acknowledges that it expects to benefit from Lender’s making of the Loan and acceptance of the Note because of Guarantor’s
relationship with Borrower and that it is executing this Guaranty in consideration of that anticipated benefit.


 


NOW,
THEREFORE, in order to induce the Lender to make the Loan to the Borrower and accept the Note, and in consideration thereof, the
foregoing recitals, as well as mutual covenants contained herein, the Parties hereby agrees as follows:


 


1.
Guaranty; Grant of Security Interest. Guarantor hereby absolutely and unconditionally guarantees to Lender and its successors
and assigns the payment of the entire principal balance of the Loan, all accrued interest thereon, all penalties therein, and all costs
and expenses incurred by Lender, including without limitation, the costs and expenses of Lender’s outside counsel, in connection
with the enforcement of Borrower’s obligations under the Note, as and when the same shall be due and payable (collectively, the
“Obligations”), if an Event of Default (as defined in the Note) occurs under the Note. Guarantor hereby irrevocably and unconditionally
covenants and agrees that it is liable for the Obligations as a primary obligor and that it shall fully perform each and every term and
provision hereof.


 


The
Guarantor hereby grants, pledges and collaterally assigns to the Lender a security interest in all of the Guarantor’s right, title
and interest in all of the Pledged Collateral (as defined below), now owned or at any time hereafter acquired by the Guarantor or in
which the Guarantor now has or at any time in the future may acquire any right, title or interest, and wherever located or deemed located
as collateral security for the prompt and complete payment and performance when due (whether at the stated maturity, by acceleration
or otherwise) of the Obligations. To this end, the Guarantor hereby pledges with, hypothecates, transfers and assigns to the Lender all
of the Pledged Collateral, which shall be defined as:


 


(i)
All capital stock and equity securities and all general intangibles relating to the ownership of such capital stock and equity securities
of the Borrower now or at any time or times hereafter owned by Guarantor comprised of all of such equity securities (and general intangibles
related thereto), as well as all indebtedness and promissory notes owed by the Borrower to the Guarantor (collectively, the “Pledged
Interests”); and


 


(ii)
All warrants, options and other rights to acquire, and rights in and to, the capital stock or other equity securities of the Borrower
now or at any time or times hereafter owned by Guarantor with respect to the Pledged Interests (collectively, the “Rights”);
and


 






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(iii)
All other property now or at any time or times hereafter received, receivable or otherwise distributed in respect of or in exchange or
substitution for any or all of the Pledged Interests and/or the Rights, and all of Guarantor’s rights thereto, including, without
limitation, any shares and other securities into which such Pledged Interests may be convertible or exchangeable and any dividends or
other distributions in connection therewith; and


 


(iv)
All accounts, chattel paper, contracts, contract rights, accounts receivable, tax refunds, note receivable, documents, other choses in
action and general intangibles, including, but not limited to, proceeds of inventory and returned goods and proceeds from the sale of
goods and services, and all rights, liens, securities, guaranties, remedies and privileges related thereto, including the right of stoppage
in transit and rights and property of any kind forming the subject matter of any of the foregoing; and


 


(v)
All assets of any type or description that may at any time be assigned or delivered to or come into possession of Guarantor for any purpose
or as to which Guarantor may have any right, title, interest or power (including but not limited to the property located at 8845 High
Valley Road, Clearlake Oaks, CA 95423, and a true and correct copy of the grant deed with respect to the aforementioned property is attached
hereto as Exhibit “B”, and excluding the property located at 8895 High Valley Road, Clearlake Oaks, CA 95423), and property
in the possession or custody of or in transit to anyone for the account of Guarantor, as well as all proceeds and products thereof and
accessions and annexations thereto; and


 


(vi)
All proceeds of all of the foregoing.


 


Any
Pledged Collateral received by the Guarantor on or after the date hereof shall be immediately delivered to the Lender together with any
executed stock powers or other transfer documents requested by the Lender, which request may be made at any time prior to the date when
the Obligations shall have been paid and otherwise satisfied in full.


 


Guarantor
agrees to execute and deliver to Lender (i) assignments separate from certificate, undated and appropriately endorsed in blank, with
respect to any certificated Pledged Interests and any warrants or options for the purchase of capital stock or other equity securities
of issuer included in the Rights and (ii) such other documents of transfer as Lender may from time to time reasonably request to enable
Lender to transfer the Pledged Collateral into its name or the name of its nominee.


 


The
Guarantor shall (and is hereby authorized to) file with the applicable filing office(s) such financing statements, amendments, addenda,
continuations, terminations, assignments and other records (whether or not executed by Guarantor) to perfect and to maintain perfected
security interests in the Pledged Collateral by the Lender, including but not limited to (a) promptly upon the execution of this Guaranty,
a Financing Statement on Form UCC-1 shall be filed with all applicable jurisdictions on behalf of the Lender with respect to the Pledged
Collateral; The financing statement shall designate the Lender as a secured party and Guarantor as the guarantor, shall identify the
security interest in the Pledged Collateral, and contain any other items required by law. In addition to the foregoing, Guarantor hereby
irrevocably authorizes Lender at any time and from time to time to file in any filing office in any Uniform Commercial Code jurisdiction
any initial financing statements and amendments thereto that (a) indicate the Pledged Collateral (i) as all assets of Guarantor or words
of similar effect, regardless of whether any particular asset comprised in the Pledged Collateral falls within the scope of Article 9
of the Uniform Commercial Code of the respective state or such jurisdiction, or (ii) as being of an equal or lesser scope or with greater
detail; and (b) provide any other information required by part 5 of Article 9 of the Uniform Commercial Code of the respective state,
or such other jurisdiction, for the sufficiency or filing office acceptance of any financing statement or amendment. The Guarantor agrees
to furnish any such information to the Lender promptly upon such Lender’s request.


 






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2.
Guaranty Absolute; Unsecured Recourse Obligations.


 


(a)
The Guarantor guarantees that the Obligations will be paid and performed strictly in accordance with the terms of the Note and the Loan
Agreements, regardless of any law, regulation or order now or hereafter in effect in any jurisdiction affecting any of such terms or
the rights of the Lender with respect thereto. The liability of the Guarantor under this Guaranty shall be absolute and unconditional
irrespective of:


 


		(i)	any
                                            lack of validity or enforceability of any of the Loan Agreements; 



 


		(ii)	any
                                            change in the time, manner or place of payment of, or in any other term of, all or any of
                                            the Obligations, or any other amendment or waiver of or any consent to departure from any
                                            of the Loan Agreements, including, without limitation, changes in the terms of disbursement
                                            of the Loan proceeds or repayment thereof, modifications, extensions (including extensions
                                            beyond and after the original term) or renewals of payment dates, changes in interest rate
                                            or the advancement of additional funds by the Lender in its discretion; 



 


		(iii)	any
                                            exchange, release or non perfection of any collateral, or any release or amendment or waiver
                                            of or consent to departure from any other guaranty, for all or any of the Obligations; or
                                            



 


		(iv)	any
                                            other circumstance which might otherwise constitute a defense available to, or a discharge
                                            of, the Borrower in respect of the Obligations or the Guarantor in respect of this Guaranty.
                                            



 


(b) Notwithstanding any termination of this Guaranty or the cancellation of the Note or any other agreement evidencing the Obligations,
if at any time any payment of any of the Obligations (from any source) is rescinded, repaid or must otherwise be returned by the Lender
(i) due to or upon the insolvency, bankruptcy or reorganization of the Borrower or the Guarantor, or (ii) for any other circumstance,
this Guaranty shall continue to be effective or be reinstated, as the case may be, all as though such payment had not been made.


 


3.
Subrogation. As a material inducement to Lender’s agreement to make the Loan and in view of the fact that Guarantor could
be considered an “insider” as defined in Section 101 of the United States Bankruptcy Code, Guarantor hereby irrevocably waives
any claim or other rights which it may now or hereafter acquire against Borrower that arises from the existence or performance of Guarantor’s
obligations under this Guaranty or any of the other Loan Agreements, including, without limitation, any right of subrogation, reimbursement,
exoneration, contribution, indemnification, any right to participate in any claim or remedy of Lender against Borrower or any collateral
security which Lender now has or hereafter acquires, whether or not such claim, remedy or right arises in equity or under contract, statute
or common law, by any payment made hereunder or otherwise, including, without limitation, the right to take or receive from Borrower,
directly or indirectly, in cash or other property or by setoff or in any other manner, payment or security on account of such claim or
other rights. An agreement between Guarantor and Borrower which is in any respect contrary to the foregoing shall be null and void and
of no force or effect. If any amount shall be paid to Guarantor in violation of the preceding sentences and the Obligations shall not
have been fully paid or performed, such amount shall be deemed to have been paid to Guarantor for the benefit of, and held in trust for
the benefit of, Lender, and shall forthwith be paid to Lender to be credited and applied upon the Obligations, whether matured or un-matured,
in accordance with the terms of the Loan Agreements.


 


4.
Guaranty Independent; Waivers.


 


(a)
The Guarantor agrees that:


 


		(i)	The
                                            Obligations hereunder are independent of and in addition to the undertakings of the Borrower
                                            pursuant to the Loan Agreements, any evidence of indebtedness issued in connection therewith,
                                            any deed of trust or security agreement given to secure the same, any other guaranties given
                                            in connection with the Loan and any other obligations of the Guarantor to the Lender, 



 






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		(ii)	A
                                            separate action may be brought to enforce the provisions hereof whether the Borrower is a
                                            party in any such action or not, 



 


		(iii)	The
                                            Lender may at any time, or from time to time to the extent that such is permited by the terms
                                            of the Loan, in its sole discretion (A) extend or change the time of payment and/or performance
                                            and/or the manner, place or terms of payment and/or performance of all or any of the Obligations;
                                            (B) exchange, release and/or surrender all or any of the collateral security, or any part
                                            thereof, by whomsoever deposited, which is now or may hereafter be held by the Lender in
                                            connection with all or any of the Obligations; (C) sell and/or purchase all or any such collateral
                                            at public or private sale, or at any broker’s board, in the manner permitted by law
                                            and after giving any notice which may be required, and after deducting all costs and expenses
                                            of every kind for collection, sale or delivery, the net proceeds of any such sale may be
                                            applied by the Lender upon all or any of the Obligations; and (D) settle or compromise with
                                            the Borrower, and/or any other person liable thereon, any and all of the Obligations, and/or
                                            subordinate the payment of same, or any part thereof, to the payment of any other debts or
                                            claims, which may at any time be due or owing to the Lender and/or any other person or corporation,
                                            and 



 


		(iv)	The
                                            Lender shall be under no obligation to marshal any assets in favor of the Guarantor or in
                                            payment of any or all of the Obligations. 



 


(b)
The Guarantor hereby waives:


 


		(i)	Presentment,
                                            demand, protest, notice of acceptance, notice of dishonor, notice of nonperformance and any
                                            other notice with respect to any of the Obligations and this Guaranty, and promptness in
                                            commencing suit against any party thereto or liable thereon, and/or in giving any notice
                                            to or making any claim or demand hereunder upon the Guarantor; 



 


		(ii)	any
                                            right to require the Lender to (A) proceed against the Borrower, (B) proceed against or exhaust
                                            any security held from the Borrower, or (C) pursue any remedy in the Lender’s power
                                            whatsoever; 



 


		(iii)	any
                                            defense arising by reason of any disability or other defense of the Borrower or by reason
                                            of the cessation from any cause whatsoever of the liability of the Borrower other than full
                                            payment of the Obligations; 



 


		(iv)	any
                                            defense it may acquire by reason of the Lender’s election of any remedy against it
                                            or the Borrower or both, including, without limitation, election by the Lender to exercise
                                            its rights under the power of sale provisions set forth in the Loan Agreements; 



 


Without
limitation on the generality of the foregoing, if applicable, Guarantor waives (i) all rights and defenses arising out of an election
of remedies by the Lendor, even though that election of remedies, such as a nonjudicial foreclosure with respect to security for a guaranteed
obligation, has destroyed the guarantor’s rights of subrogation and reimbursement against the principal by the operation of law
or otherwise, and (ii) all rights and defenses that the Guarantor may have because Borrower’s debt to Lender is secured by real
property. This means, among other things: (a) Lender may collect from Guarantor without first foreclosing on any real or personal property
collateral pledges by Borrower; and (b) if Lender forecloses on any real property collateral pledged by Borrower, the amount of the debt
may be reduced only by the price for which that collateral is sold at the foreclosure sale, even if the collateral is worth more than
the sale price and Lender may collect from Guarantor even if Lender, by foreclosing on the real property collateral, has destroyed any
right Guarantor may have to collect from Borrower. This is an unconditional and irrevocable waiver of any rights and defenses that Guarantor
may have because Borrower’s debt is secured by real property.


 


5. Does Not Supersede Other Guaranties. The obligations of the Guarantor hereunder shall be in addition to any obligations of
the Guarantor under any other guaranties, and this Guaranty shall not affect or invalidate any such other guaranties. The liability of
the Guarantor to the Lender shall at all times be deemed to be the aggregate liability of the Guarantor under the terms of this Guaranty.


 






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6.
Representations And Warranties. The Guarantor hereby represents and warrants as follows:


 


(a)
Validity of Guaranty.


 


		(i)	The
                                            execution, delivery and performance by the Guarantor of this Guaranty (A) has received all
                                            necessary governmental approvals, and (B) will not violate any provision of law, any order
                                            of any court or agency of government, or any indenture, agreement or any other instrument
                                            to which the Guarantor is a party, or be in conflict with, result in a breach of or constitute
                                            (with due notice and/or lapse of time) a default under any such indenture, agreement or other
                                            instrument, or result in the creation or imposition of any lien, charge or encumbrance of
                                            any nature whatsoever upon any of its property or assets. 



 


		(ii)	This
                                            Guaranty, when delivered to the Lender, will constitute a legal, valid and binding obligation
                                            enforceable against the Guarantor in accordance with its terms. 



 


(b)
Financial Statements.


 


		(i)	All
                                            financial statements and data that have been given to the Lender by the Guarantor with respect
                                            to the Guarantor, (A) are complete and correct in all material respects as of the date given;
                                            and (B) accurately present the financial condition of the Guarantor on each date as of which
                                            the same have been furnished. 



 


		(ii)	There
                                            has been no adverse change in the financial condition or operations of the Guarantor since
                                            the date of the most recent financial statement given to the Lender with respect to the Guarantor.
                                            



 


(c)
Other Arrangements. The Guarantor is not a party to any agreement or instrument materially and adversely affecting the Guarantor’s
present or proposed business, properties or assets, or operations or conditions (whether financial or otherwise); and the Guarantor is
not in default in the performance, observance or fulfillment of any of the material obligations, covenants or conditions set forth in
any agreement or instrument to which the Guarantor is a party.


 


(d)
Litigation. There is not now pending against or affecting the Guarantor, nor to the knowledge of the Guarantor is there threatened, any
action, suit or proceeding at law or in equity or by or before any administrative agency that, if adversely determined, would materially
impair or affect the financial condition or operations of the Guarantor.


 


(e)
Taxes. The Guarantor has filed all national, state, provincial, county, municipal and other income tax returns required to have been
filed by the Guarantor and has paid all taxes that have become due pursuant to such returns or pursuant to any assessments received by
the Guarantor, and the Guarantor does not know of any basis for any material additional assessment against it in respect of such taxes.


 


7.
Affirmative Covenants. The Guarantor covenants and agrees that, so long as any part of the Note shall remain unpaid, the Guarantor
will, unless the Lender shall otherwise consent in writing:


 


(a) Taxes Affecting the Guarantor. File all tax returns required to be filed by it under the laws of any jurisdiction in which Guarantor
does business or is otherwise required to file tax returns and pay before the same become delinquent all taxes that become due pursuant
to such returns or pursuant to any assessments received by it.


 


(b)
Compliance with Law. Promptly and faithfully comply in all material respects with all laws, ordinances, rules, regulations and requirements,
both present and future, of every duly constituted governmental authority or agency having jurisdiction that may be applicable to it.


 


(c)
Litigation or Adverse Conditions. Promptly notify Lender in writing of any litigation, action, suit or proceeding at law or in equity
or by or before any administrative agency, or any other adverse condition, affecting Guarantor.


 






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8.
Amendments. No amendment or waiver of any provision of this Guaranty nor consent to any departure by the Guarantor therefrom shall
in any event be effective unless the same shall be in writing and signed by the Lender, and then such waiver or consent shall be effective
only in the specific instance and for the specific purpose for which given. No notice to or demand on the Guarantor shall in any case
entitle it to any other or further notice or demand in similar or other circumstances.


 


9.
Notices. All notices that may be required or otherwise provided for or contemplated under the terms of this Guaranty for any party
to serve upon or give to any other shall, whether or not so stated, be in writing, and if not so in writing shall not be deemed to have
been given, and be either (i) personally served, or (ii) sent by a nationally recognized commercial overnight service that provides a
receipt, (iii) sent with return receipt requested by registered or certified mail with postage (including registration or certification
charges) prepaid in a securely enclosed and sealed envelope, sent to the following addresses, or (iv) via electronic mail:


 


(a)
If to the Guarantor, addressed to:


 


Lemon
Glow Company, Inc.


750
Royal Oaks Dr., Suite 108


Monrovia,
CA 91016


e-mail:
jimmy@sugarmade.com


 


(b)
If to the Lender, addressed to:


 


Mast
Hill Fund, L.P.


48
Parker Road


Wellesley,
MA 02482


e-mail:
admin@masthillfund.com


 


Such
addresses may be changed from time to time by written notice to the other parties given in the same manner.


 


10.
No Waiver; Remedies. No failure on the part of the Lender to exercise and no delay in exercising any right or remedy hereunder
shall operate as a waiver thereof; nor shall the Lender be estopped to exercise any such right or remedy at any future time because of
any such failure or delay; nor shall any single or partial exercise of any right or remedy hereunder preclude any other or further exercise
thereof or the exercise of any other right or remedy. The remedies herein provided are cumulative and not exclusive of any remedies provided
by law.


 


11. Continuing Guaranty; Transfer of Note. This Guaranty is a continuing guaranty and shall remain in full force and effect until
payment and performance in full of the Loan and all other amounts payable under this Guaranty. The Lender may assign or otherwise transfer
the Loan Agreements to any person, corporation, firm, partnership, government, governmental agency or any other entity, whether acting
in an individual, fiduciary or other capacity (collectively, a “Person”), pursuant to the provisions of the Loan Agreements,
and such other Person shall thereupon become vested with all the rights in respect thereof granted to the Lender herein or otherwise.


 


12.
Subordination. Any indebtedness of the Borrower now or hereafter held by the Guarantor is hereby subordinated to the indebtedness
of the Borrower to the Lender, and such indebtedness of the Borrower to the Guarantor shall, if the Lender so requests, be collected,
enforced and received by the Guarantor as trustee for the Lender and be paid over to the Lender on account of the indebtedness of the
Borrower to the Lender, but without reducing or limiting in any manner the liability of the Guarantor under the other provisions of this
Guaranty.


 






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13.
No Duty. The Guarantor assumes the responsibility for keeping informed of the financial condition of the Borrower and of all other
circumstances bearing upon the risk of nonpayment of the Obligations, and agrees that the Lender shall have no duty to advise the Guarantor
of any information known to the Lender regarding any such financial condition or circumstances.


 


14. Waiver of Right To Trial By Jury. The Guarantor hereby waives any right to trial by jury with Person, relating to (A) the
Note and/or any understandings or prior dealings between the parties hereto, (B) this Guaranty or (C) the Loan Agreements, or (ii) to
which the Lender is a party. The Guarantor hereby respect to any action or proceeding (i) brought by the Guarantor, the Borrower, the
Lender or any other agrees that this Guaranty constitutes a written consent to waiver of trial by jury, and the Guarantor does hereby
constitute and appoint the Lender its true and lawful attorney-in-fact, which appointment is coupled with an interest, and the Guarantor
does hereby authorize and empower the Lender, in the name, place and stead of the Guarantor, to file this Guaranty with the clerk or
judge of any court of competent jurisdiction as a statutory written consent to waiver of trial by jury.


 


15.
Bankruptcy of Borrower. Notwithstanding any modification, discharge or extension of the Obligations or any amendment, modification,
stay or cure of the Lender’s rights which may occur in any bankruptcy or reorganization case or proceeding concerning the Borrower,
whether permanent or temporary, and whether assented to by the Lender, the Guarantor hereby agrees that it shall be obligated hereunder
to pay and perform the Obligations and discharge its other obligations in accordance with the terms of the Obligations and the terms
of this Guaranty in effect on the date hereof. The Guarantor understands and acknowledges that by virtue of this Guaranty, it has specifically
assumed any and all risks of a bankruptcy or reorganization case or proceeding with respect to the Borrower. As an example and not in
any way of limitation, a subsequent modification of the Obligations in any reorganization case concerning the Borrower shall not affect
the obligation of the Guarantor to pay and perform the Obligations in accordance with their original terms.


 


16.
Entire Agreement. This Guaranty is intended as a final expression of this agreement of guaranty and is intended also as a complete
and exclusive statement of the terms of this agreement. No course of prior dealings between the Guarantor and Lender, no usage of the
trade, and no parol or extrinsic evidence of any nature, shall be used or be relevant to supplement, explain, contradict or modify the
terms and/or provisions of this Guaranty.


 


17.
Governing Law. The validity of this Guaranty, its construction, interpretation and enforcement, and the rights of the parties
hereunder, shall be determined under, governed by, and construed in accordance with the laws of the state of Delaware as applied to contracts
made and to be fully performed in such state, without regard to the conflicts of laws provisions thereof. Any action brought by either
party against the other concerning the transactions contemplated by this Guaranty, the Loan Agreements, or any other agreement, certificate,
instrument or document contemplated hereby shall be brought only in the Court of Chancery of the State of Delaware or, to the extent
such court does not have subject matter jurisdiction, the United States District Court for the District of Delaware or, to the extent
that neither of the foregoing courts has jurisdiction, the Superior Court of the State of Delaware. The parties to this Note hereby irrevocably
waive any objection to jurisdiction and venue of any action instituted hereunder and shall not assert any defense based on lack of jurisdiction
or venue or based upon forum non conveniens.


 


18.
Attorney Fees. If either party hereto fails to perform any of its obligations under this Guaranty or if any dispute arises between
the parties hereto concerning the meaning or interpretation of any provision of this Guaranty, then the defaulting party or the party
not prevailing in such dispute, as the case may be, shall pay any and all costs and expenses incurred by the other party on account of
such default and/or in enforcing or establishing its rights hereunder, including, without limitation, court costs and reasonable attorney
fees and disbursements. Any such attorney fees and other expenses incurred by either party in enforcing a judgment in its favor under
this Guaranty shall be recoverable separately from and in addition to any other amount included in such judgment, and such attorney fees
obligation is intended to be severable from the other provisions of this Guaranty and to survive and not be merged into any such judgment.


 






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19.
Miscellaneous.


 


(a)
This Guaranty is made for the sole protection and benefit of Lender and its successors and assigns, and no other person shall have any
right of action hereon.


 


(b)
If any term, provision, covenant or condition hereof or any application thereof should be held by a court of competent jurisdiction to
be invalid, void or unenforceable, all provisions, covenants and conditions hereof, and all applications thereof not held invalid, void
or unenforceable, shall continue in full force and effect and shall in no way be affected, impaired or invalidated thereby.


 


(c)
This Guaranty may be executed in any number of counterparts and by different parties in separate counterparts, each of which when so
executed and delivered shall be deemed to be an original and all of such counterparts taken together shall constitute but one and the
same instrument.


 


(d)
Section headings in this Guaranty are included for convenience of reference only and do not constitute a part of this Guaranty for any
other purpose.


 


(e)
All accounting terms not specifically defined herein shall be construed in accordance with generally accepted accounting principles consistent
with those applied in the preparation of the financial statements referred to in Paragraph 6(b) above.


 


(f)
Until the Note is satisfied in its entirety, Guarantor shall not enforce Guarantor’s rights to any default under any loan made
by Guarantor to the Borrower.


 


(g)
Each party shall do and perform, or cause to be done and performed, all such further acts and things, and shall execute and deliver all
such other agreements, certificates, instruments and documents, as the other party may reasonably request in order to carry out the intent
and accomplish the purposes of this Guaranty and the consummation of the transactions contemplated hereby.


 


(h)
Notwithstanding anything to the contrary in this Agreement, the Parties acknowledge and are aware of the existence of the following two
(2) liens on the Guarantor’s property located at 8845 High Valley Road, Clearlake Oaks, CA 95423: (i) a lien in the amount of approximately
$300,000.00 held by Rezyfi Lending, Inc. and (ii) a lien in the amount of approximately $1,390,000 held by Darryl Kuecker, Trustee of
The 2002 Darryl Kuecker Revocable Trust, and Shirley Ann Hunt, Trustee of The 2002 Shirley Ann Hunt Revocable Trust.


 


[Signature
page to follow]


 




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IN
WITNESS WHEREOF, the undersigned has duly executed and delivered this Guaranty as of the date first above written.


 


	GUARANTOR:	 
	 	 
	Lemon Glow Company, Inc.	 
	 	 
	/s/ Jimmy Chan	 
	Name:	Jimmy Chan	 
	Title:	Chief Executive Officer	 
	 	 
	LENDER:	 
	 	 
	MAST HILL FUND, L.P.	 
	 	 
	/s/ Patrick Hassani	 
	Name:	Patrick Hassani	 
	Title:	Chief Investment Officer	 




 




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EXHIBIT
A


 


(see
attached)


 




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EXHIBIT
B


 


(see
attached)


 






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