# EDGAR Filing Document

**Accession Number:** 0000895665
**File Stem:** 0001493152-23-001070
**Filing Date:** 2023-1
**Character Count:** 67843
**Document Hash:** dcb08042d91761e99c7710f4d15004b3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-23-001070.hdr.sgml**: 20230110

**ACCESSION NUMBER**: 0001493152-23-001070

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 31

**CONFORMED PERIOD OF REPORT**: 20230110

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230110

**DATE AS OF CHANGE**: 20230110

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Clearday, Inc.
- **CENTRAL INDEX KEY:** 0000895665
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-NURSING & PERSONAL CARE FACILITIES [8050]
- **IRS NUMBER:** 770158076
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-21074
- **FILM NUMBER:** 23521461

**BUSINESS ADDRESS:**
- **STREET 1:** 15511 W. STATE HWY 71
- **STREET 2:** SUITE 110-105
- **CITY:** AUSTIN
- **STATE:** TX
- **ZIP:** 78738
- **BUSINESS PHONE:** 512-650-7775

**MAIL ADDRESS:**
- **STREET 1:** 15511 W. STATE HWY 71
- **STREET 2:** SUITE 110-105
- **CITY:** AUSTIN
- **STATE:** TX
- **ZIP:** 78738

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SUPERCONDUCTOR TECHNOLOGIES INC
- **DATE OF NAME CHANGE:** 19940214

?xml version="1.0" encoding="utf-8"?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

Date of Report (Date of earliest event Reported): January 10, 2023 (January 4, 2023)

**Clearday, Inc.**

(Exact Name of Registrant as Specified in Charter)

---

| | | |
|:---|:---|:---|
| **Delaware** | **0-21074** | **77-0158076** |
| (State or Other Jurisdiction<br> of Incorporation) | (Commission<br> File Number) | (I.R.S. Employer<br> Identification Number) |

---

**8800 Village Drive, Suite 106, San Antonio, TX 78217**

(Address of Principal Executive Offices) (Zip Code)

**(210) 451-0839**

(Registrant's telephone number, including area code)

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Common Stock, par value $0.001 | CLRD | OTCQX |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

---

| | |
|:---|:---|
| **Item 1.01** | **Entry into a Material Definitive Agreement.** |

---

On January 4, 2023, Leander Associates, Ltd., a Texas limited partnership ("*<u>Seller</u>*") that is a subsidiary of Clearday, Inc. (the "*<u>Company</u>*"), entered into a Commercial Contract for Unimproved Property (the "*<u>Leander Sale Agreement</u>*") to sell one of Clearday's non-core assets: a land parcel located in Leander, Texas (the "*<u>Property</u>*"). The gross purchase price is approximately $1,700,000, subject to customary apportionments, and includes the price applicable to third party reporting and engineering documentation and other studies and analysis delivered by Seller to the purchaser. Seller will pay aggregate brokerage commissions of six percent of the sale price. The purchaser has made an initial deposit of $17,500 and paid an initial non-refundable fee of $1,000, which fee will be applied to the payment of the purchase price upon a closing. The Leander Sale Agreement provides a 60-day period following the January 4, 2023 effective date, or until March 5, 2023 (the "*<u>Feasibility Period</u>*"), for the purchaser to inspect the Property and conduct their analysis, appraisals and other examination of the Property, including environmental inspections. Onsite testing by the purchaser is subject to customary conditions including notice, indemnification and maintenance of commercial liability insurance naming Seller as an additional insured party. The purchaser may conduct a Phase II environmental inspection subject to Seller's prior written consent. The purchaser may terminate the Leander Sale Agreement on or prior to the expiration of the Feasibility Period. The Seller will repay its obligations under its previously reported Property Sale Advance Agreement in which it received $500,000 and distribute the net proceeds from the sale of the Property to the Company. The Company expects to use such net proceeds for its general working capital, including the further development of its robotic services business.

Within 20 days after the effective date, or January 24, 2023, Seller will provide the purchaser with a title insurance commitment and related title documents. The Leander Sale Agreement provides for a customary process for the purchaser to raise, and for the parties to resolve, any purchaser objections to any title issues, which shall not include customary permitted title exceptions, and adjust the purchase price based on the survey. Seller will provide a survey of the Property to Buyer on or prior to 20 days after the effective date, or January 24, 2023 (the "*<u>Survey</u>*"). If the Survey is not acceptable to Buyer, then Seller will provide an updated survey within 30 days. Buyer will have a 10 day period to object to any matters. The Leander Sale Agreement provides customary provisions regarding resolution of survey and title matters or the right of the Buyer to terminate the contract.

The closing of the purchase and sale of the Property is on the date that is not later than 15 days after the expiration of the feasibility period, subject to any adjournment.

The Leander Sale Agreement includes customary terms and conditions including representations and warranties, payment of brokers, conditions to closing, risk of loss, condemnation, remedies, environmental conditions, and indemnification.

The foregoing description of the Leander Sale Agreement is not complete and is qualified in its entirety by reference to the full text of such agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Forward Looking Statements

This communication contains forward-looking statements (including within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended) concerning the Company. These statements may discuss goals, intentions and expectations as to future plans, trends, events, results of operations or financial condition, or otherwise, based on current beliefs of the management of the Company, as well as assumptions made by, and information currently available to, management. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as "may," "will," "should," "would," "expect," "anticipate," "plan," "likely," "believe," "estimate," "project," "intend," and other similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation: the risks regarding the Company and its business, generally; risks related to the Company's ability to correctly estimate and manage its operating expenses and develop its innovate non-acute care businesses and the acceptance of its proposed products and services, including with respect to future financial and operating results; the ability of the Company to protect its intellectual property rights; competitive responses to the Company's businesses including its innovative non-acute care business; unexpected costs, charges or expenses; regulatory requirements or developments; changes in capital resource requirements; and legislative, regulatory, political and economic developments. The foregoing review of important factors that could cause actual events to differ from expectations should not be construed as exhaustive and should be read in conjunction with statements that are included herein and elsewhere, including the risk factors included in the Company's most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the SEC and the registration statement regarding the Company's previously announced merger, that was filed and declared effective. The Company can give no assurance that the actual results will not be materially different than those based on the forward looking statements. Except as required by applicable law, the Company undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

---

| | |
|:---|:---|
| **Item 9.01** | **Financial Statements and Exhibits.** |

---

(d) Exhibits.

---

| | |
|:---|:---|
| **No.** | **Description** |
| 10.1 | [Commercial Contract for Unimproved Property, effective January 4, 2023, by and between Leander Associates, Ltd., a Texas limited partnership ("Seller"), and the purchaser specified therein.](ex10-1.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

---

**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | **CLEARDAY, INC.** | **CLEARDAY, INC.** |
|  | By: | ***/s/ James Walesa*** |
|  | Name: | James Walesa |
|  | Title: | Chief Executive Officer |
| Dated January 10, 2023 |  |  |

---

## Exhibit 10.1

**Exhibit 10.1**

![](ex10-1_001.jpg)

**COMMERCIAL CONTRACT - UNIMPROVED PROPERTY**

USE OF THIS FORM BY PERSONS WHO ARE NOT MEMBERS OF THE TEXAS ASSOCIATION OF

REALTORS, INC. IS NOT AUTHORIZED.

**©Texas Association of REALTORS®, Inc. 2022**

------

**1.** **PARTIES:** Seller agrees to sell and convey to Buyer the Property described in Paragraph 2. Buyer
 agrees to buy the Property from Seller for the sales price stated in Paragraph 3. The parties
 to this contract are:

---

| | | |
|:---|:---|:---|
| Seller: | **LEANDER ASSOCIATES LTD** | |
| Address: | **8800 Village D, San Antonio, TX 78217** | **8800 Village D, San Antonio, TX 78217** |
| Phone: | | E-mail: |
| Mobile: | | Fax or Other: |

---

---

| | | | |
|:---|:---|:---|:---|
| Buyer: | **PN9 Realty LLC and/or assigns** | **PN9 Realty LLC and/or assigns** | **PN9 Realty LLC and/or assigns** |
| Address: | |  |  |
| Phone: | | E-mail: | **pguduru@yahoo.com** |
| Mobile: | | Fax or Other: | Fax or Other: |

---

**2.** **PROPERTY:** 

---

| | | | |
|:---|:---|:---|:---|
| A. | "Property" means that real property situated in | **Williamson** | **County, Texas at** |
|  | **301 S BAGDAD RD, LEANDER, TX 78641** | **301 S BAGDAD RD, LEANDER, TX 78641** | **301 S BAGDAD RD, LEANDER, TX 78641** |
|  | *(address)* and that is legally described on the attached Exhibit  | **N/A** | or as follows:<br>|
|  | **S9412 - VISTA RIDGE COMMERCIAL (INCLUDING THE REPLAT OF LOT 1 SHIN OAK ESTATES SECTION 1), Lot 1, ACRES 4.7054** | **S9412 - VISTA RIDGE COMMERCIAL (INCLUDING THE REPLAT OF LOT 1 SHIN OAK ESTATES SECTION 1), Lot 1, ACRES 4.7054** | **S9412 - VISTA RIDGE COMMERCIAL (INCLUDING THE REPLAT OF LOT 1 SHIN OAK ESTATES SECTION 1), Lot 1, ACRES 4.7054** |

---

B. Seller will sell and convey the Property together with:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) all rights, privileges, and appurtenances pertaining to the Property, including Seller's right, title, and interest in any minerals, utilities, adjacent streets, alleys, strips, gores, and rights-of-way;

(2) Seller's interest in all leases, rents, and security deposits for all or part of the Property; and

(3) Seller's interest in all licenses and permits related to the Property.

 

*(Describe any exceptions, reservations, or restrictions in Paragraph 12 or an addendum.)*

*(If mineral rights are to be reserved an appropriate addendum should be attached.)*

 

**3.** **SALES PRICE:** 

&nbsp;&nbsp;&nbsp;&nbsp;A. At
 or before closing, Buyer will pay the following sales price for the Property:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Cash
 portion payable by Buyer at closing $**1,700,000.00** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Sum
 of all financing described in Paragraph 4 $

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) Sales
 price (sum of 3A(1) and 3A(2)) $**1,700,000.00** 

---

| | |
|:---|:---|
| Commercial Contract - Unimproved Property concerning | **301 S BAGDAD RD, LEANDER, TX 78641** |

---

&nbsp;&nbsp;&nbsp;&nbsp;B. <u>Adjustment to Sales Price</u>: *(Check (1) or (2) only.)* 

☐ (1) The sales price will not be adjusted based on a survey. <br> ☒ (2) The sales price will be adjusted based on the latest survey obtained under Paragraph 6B.

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| | | |
|:---|:---|:---|
| (a) | The sales price is calculated on the basis of $**<u>8.294</u>** per: | The sales price is calculated on the basis of $**<u>8.294</u>** per: |
| ☒ | (i) | square foot of ☒ total area ☐ net area. |
| ☐ | (ii) | acre of ☐ total area ☐ net area. |

---

---

| | |
|:---|:---|
| (b) | "Total area" means all land area within the perimeter boundaries of the Property. "Net area" means total area less any area of the Property within: |
| ☐ (i) | public roadways; |
| ☐ (ii) | rights-of-way and easements other than those that directly provide utility services to the Property; and |
| ☐ (iii) |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) If
 the sales price is adjusted by more than  **<u>10.000</u>** % of the stated sales price, either party may terminate this contract by providing
 written notice to the other party within  **<u>7</u>** days after the terminating party receives the survey. If neither party terminates
 this contract or if the variance is less than the stated percentage, the adjustment to the
 sales price will be made to the cash portion of the sales price payable by Buyer.

**4.** **FINANCING:** Buyer will finance the portion of the sales price under Paragraph 3A(2) as follows:

---

| | | |
|:---|:---|:---|
| ☐ | A. | <u>Third Party Financing</u>: One or more third party loans in the total amount of $_____________. This contract: |

---

---

| | | |
|:---|:---|:---|
| ☐ | (1) | is <u>not</u> contingent upon Buyer obtaining third party financing. |
| ☐ | (2) | is contingent upon Buyer obtaining third party financing in accordance with the attached Commercial Contract Financing Addendum (TXR-1931). |

---

---

| | | |
|:---|:---|:---|
| ☐ | B. | <u>Assumption</u>: In accordance with the attached Commercial Contract Financing Addendum (TXR-1931), Buyer will assume the existing promissory note secured by the Property, which balance at closing will be $_________. |
| ☐ | C. | <u>Seller Financing</u>: Buyer will deliver a promissory note and deed of trust to Seller under the terms of the attached Commercial Contract Financing Addendum (TXR-1931) in the amount of $____________<u>.</u> |

---

**5.** **EARNEST MONEY:** 

&nbsp;&nbsp;&nbsp;&nbsp;A. Not
 later than 3 days after the effective date, Buyer must deposit **$<u>$17,500.00</u>** as earnest money with  **<u>Presidio Title LLC-</u>** (title company) at  **<u>7373 Broadway, #105,San Antonio, TX 78209</u>** (address)  **<u>Danita Sherrill</u>** (closer). If Buyer fails to timely deposit the earnest money, Seller may terminate this contract or exercise any of Seller's
 other remedies under Paragraph 15 by providing written notice to Buyer before Buyer deposits the earnest money.

&nbsp;&nbsp;&nbsp;&nbsp;B. Buyer
will deposit an additional amount of $_________________with the title company to be made part of the earnest money on or before:

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| | |
|:---|:---|
| ☐(i) | ______days after Buyer's right to terminate under Paragraph 7B expires; or |
| ☐ (ii) | _______________________________________________________________________. |
|  | Buyer will be in default if Buyer fails to deposit the additional amount required by this Paragraph 5B within 3 days after Seller notifies Buyer that Buyer has not timely deposited the additional amount. |

---

![](ex10-1_003.jpg)

---

| | |
|:---|:---|
| Commercial Contract - Unimproved Property concerning | **301 S BAGDAD RD, LEANDER, TX 78641** |

---

&nbsp;&nbsp;&nbsp;&nbsp;C. Buyer
 may instruct the title company to deposit the earnest money in an interest-bearing account
 at a federally insured financial institution and to credit any interest to Buyer.

**6.** **TITLE POLICY AND SURVEY:** 

&nbsp;&nbsp;&nbsp;&nbsp;A. <u>Title Policy</u>:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Seller,
 at Seller's expense, will furnish Buyer an Owner's Policy of Title insurance
 (the title policy) issued by any underwriter of the title company in the amount of the
 sales price, dated at or after closing, insuring Buyer against loss under the title policy,
 subject only to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) those
 title exceptions permitted by this contract or as may be approved by Buyer in writing; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the
 standard printed exceptions contained in the promulgated form of title policy unless this
 contract provides otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The
 standard printed exception as to discrepancies, conflicts, or shortages in area and boundary
 lines, or any encroachments or protrusions, or any overlapping improvements:

☐ (a) will not be amended or deleted from the title policy. <br> ☒ (b) will be amended to read "shortages in areas" at the expense of ☐ Buyer ☒ Seller.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) Within  **<u>15</u>** days after the effective date, Seller will furnish Buyer a commitment for
 title insurance (the commitment) including legible copies of recorded documents evidencing
 title exceptions. Seller authorizes the title company to deliver the commitment and related
 documents to Buyer at Buyer's address.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. <u>Survey</u>:
 Within  **<u>20</u>** days after the effective date:

---

| | | |
|:---|:---|:---|
| ☐ | (1) | Buyer will obtain a survey of the Property at Buyer's expense and deliver a copy of the survey to Seller. The survey must be made in accordance with the: (i) ALTA/NSPS Land Title Survey standards, or (ii) Texas Society of Professional Surveyors' standards for a Category 1A survey under the appropriate condition. Seller will reimburse Buyer___________________*(insert amount)* of the cost of the survey at closing, if closing occurs. |
| ☐ | (2) | Seller, at Seller's expense, will furnish Buyer a survey of the Property dated after the effective date. The survey must be made in accordance with the: (i) ALTA/NSPS Land Title Survey standards, or (ii) Texas Society of Professional Surveyors' standards for a Category 1A survey under the appropriate condition. |
| ☒ | (3) | Seller will deliver to Buyer and the title company a true and correct copy of Seller's most recent survey of the Property along with an affidavit required by the title company for approval of the existing survey. If the existing survey is not acceptable to the title company, ☐ Seller ☒ Buyer (updating party), will, at the updating party's expense, obtain a new or updated survey acceptable to the title company and deliver the acceptable survey to the other party and the title company within 30 days after the title company notifies the parties that the existing survey is not acceptable to the title company. The closing date will be extended daily up to 30 days if necessary for the updating party to deliver an acceptable survey within the time required. The other party will reimburse the updating party **<u>50%</u>** *(insert amount or percentage)* of the cost of the new or updated survey at closing, if closing occurs. |

---

&nbsp;&nbsp;&nbsp;&nbsp;C. <u>Buyer's Objections to the Commitment and Survey</u>:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Within  **<u>10</u>** days after Buyer receives the last of
 the commitment, copies of the documents evidencing the title exceptions, and any required
 survey, Buyer may object in writing to matters disclosed in the items if: (a) the matters
 disclosed are a restriction upon the Property or constitute a defect or encumbrance to title
 other than those permitted by this contract or liens that Seller will satisfy at closing
 or Buyer will assume at closing; or (b) the items show that any part of the Property lies
 in a special flood hazard area (an "A" or "V" zone as defined by
 FEMA). If the commitment or survey is revised or any new document evidencing a title exception
 is delivered, Buyer may object in writing to any new matter revealed in such revision or
 new document. Buyer's objection must be made within the same number of days stated
 in this paragraph, beginning when the revision or new document is delivered to Buyer. If
 Paragraph 6B(1) applies, Buyer is deemed to receive the survey on the earlier of: (i) the
 date Buyer actually receives the survey; or (ii) of the deadline specified in Paragraph 6B.

![](ex10-1_004.jpg)

---

| | |
|:---|:---|
| Commercial Contract - Unimproved Property concerning | **301 S BAGDAD RD, LEANDER, TX 78641** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Seller
 may, but is not obligated to, cure Buyer's timely objections within 15 days after Seller
 receives the objections. The closing date will be extended as necessary to provide such time
 to cure the objections. If Seller fails to cure the objections by the time required, Buyer
 may terminate this contract by providing written notice to Seller within 5 days after the
 time by which Seller must cure the objections. If Buyer terminates, the earnest money, less
 any independent consideration under Paragraph 7B(1), will be refunded to Buyer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) Buyer's
 failure to timely object or terminate under this Paragraph 6C is a waiver of Buyer's
 right to object except that Buyer will not waive the requirements in Schedule C of the commitment.

**7.** **PROPERTY CONDITION:** 

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| | |
|:---|:---|
| A. | <u>Present Condition</u>: Buyer accepts the Property in its present condition except that Seller, at Seller's expense, will complete the following before closing:<u> </u> |
|  | ________________________________________________________________________________________. |

---

&nbsp;&nbsp;&nbsp;&nbsp;B. <u>Feasibility Period</u>: Buyer may terminate this contract for any reason within  **<u>60</u>** days after the effective date (feasibility period) by providing Seller written notice
 of termination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) <u>Independent Consideration</u>. *(Check only one box and insert amounts.)* 

---

| | |
|:---|:---|
| ☒(a) | If Buyer terminates under this Paragraph 7B, the earnest money will be refunded to Buyer less $**<u>1,000.00</u>** that Seller will retain as independent consideration for Buyer's unrestricted right to terminate. Buyer has tendered the independent consideration to Seller upon payment of the amount specified in Paragraph 5A to the title company. The independent consideration is to be credited to the sales price only upon closing of the sale. <u>If no dollar amount is stated in this Paragraph 7B(1) or if Buyer fails to deposit the earnest money, Buyer will not have the right to terminate under this Paragraph 7B</u>. |
| ☐ (b) | Not later than 3 days after the effective date, Buyer must pay $___________as independent consideration for Buyer's right to terminate by tendering such amount to the title company. Buyer authorizes escrow agent to release and deliver the independent consideration to Seller at any time upon Seller's request without further notice to or consent from Buyer. If Buyer terminates under this Paragraph 7B, the earnest money will be refunded to Buyer and Seller will retain the independent consideration. The independent consideration will be credited to the sales price only upon closing of the sale. <u>If no dollar amount is stated in this Paragraph 7B(2) or if Buyer fails to pay the independent consideration, Buyer will not have the right to terminate under this Paragraph 7B</u>. |

---

---

| | | |
|:---|:---|:---|
| ☐ | (2) | <u>Feasibility Period Extension</u>: Prior to the expiration of the initial feasibility period, Buyer may extend the feasibility period for a single additional period of days by delivering $________to the title company as additional earnest money. |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) $<u> </u> of the additional earnest money will be retained by Seller as additional independent
 consideration for Buyer's unrestricted right to terminate, but will be credited to
 the sales price only upon closing of the sale. If Buyer terminates under this Paragraph 7B,
 the additional earnest money will be refunded to Buyer and Seller will retain the additional
 independent consideration.

![](ex10-1_005.jpg)

---

| | |
|:---|:---|
| Commercial Contract - Unimproved Property concerning | **301 S BAGDAD RD, LEANDER, TX 78641** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Buyer
 authorizes escrow agent to release and deliver to Seller the following at any time upon Seller's request without further notice
 to or consent from Buyer:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The
 additional independent consideration.

(ii) *(Check no boxes or only one box.)* 

☐ all or $☐______________ of the remaining portion of the additional earnest money, which will be refunded to Buyer if Buyer terminates under this Paragraph 7B or if Seller defaults under this contract.

<u>If no dollar amount is stated in this Paragraph 7B(2) as additional earnest money or as additional independent consideration, or if Buyer fails to timely deliver the additional earnest money, the extension of the feasibility period will not be effective.</u>

&nbsp;&nbsp;&nbsp;&nbsp;C. <u>Inspections, Studies, or Assessments</u>:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) During
 the feasibility period, Buyer, at Buyer's expense, may complete or cause to be completed any and all inspections, studies,
 or assessments of the Property (including all improvements and fixtures) desired by Buyer.

(2) Buyer
 must:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) employ
 only trained and qualified inspectors and assessors;

(b) notify
 Seller, in advance, of when the inspectors or assessors will be on the Property;

(c) abide
 by any reasonable entry rules or requirements of Seller;

(d) not
 interfere with existing operations or occupants of the Property; and

(e) restore
 the Property to its original condition if altered due to inspections, studies, or assessments that Buyer completes or causes to be
 completed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) Except
 for those matters that arise from the negligence of Seller or Seller's agents, Buyer is responsible for any claim, liability,
 encumbrance, cause of action, and expense resulting from Buyer's inspections, studies, or assessments, including any property
 damage or personal injury. Buyer will indemnify, hold harmless, and defend Seller and Seller's agents against any claim involving
 a matter for which Buyer is responsible under this paragraph. This paragraph survives termination of this contract.

&nbsp;&nbsp;&nbsp;&nbsp;D. <u>Property Information</u>:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) <u>Delivery of Property information</u>: Within  **<u>_____7_____</u>** days after the effective date, Seller will deliver
 to Buyer the following to the extent in Seller's possession or control: *(Check all that apply.)* 

---

| | |
|:---|:---|
| ☒(a) | copies of all current leases, including any mineral leases, pertaining to the Property, including any modifications, supplements, or amendments to the leases; |
| ☒ (b) | copies of all notes and deeds of trust against the Property that Buyer will assume or that Seller will not pay in full on or before closing; |
| ☒ (c) | copies of all previous environmental assessments, geotechnical reports, studies, or analyses made on or relating to the Property; |
| ☒ (d) | copies property tax statements for the Property for the previous 2 calendar years; |
| ☒ (e) | plats of the Property; |
| ☒ (f) | copies of current utility capacity letters from the Property's water and sewer service provider; and |
| ☐ (g) |  |

---

![](ex10-1_006.jpg)

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|:---|:---|
| Commercial Contract - Unimproved Property concerning | **301 S BAGDAD RD, LEANDER, TX 78641** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) <u>Return of Property information</u>: If this contract terminates for any reason, Buyer will, not later than 10 days after the
 termination date: *(Check all that apply.)* 

---

| | |
|:---|:---|
| ☒(a) | return to Seller all those items described in Paragraph 7D(1) that Seller delivered to Buyer in other than an electronic format and all copies that Buyer made of those items; |
| ☒ (b) | delete or destroy all electronic versions of those items described in Paragraph 7D(1) that Seller delivered to Buyer or Buyer copied in any format; and |
| ☒ (c) | deliver to Seller copies of all inspection and assessment reports related to the Property that Buyer completed or caused to be completed. |
|  | This Paragraph 7D(2) survives termination of this contract. |

---

&nbsp;&nbsp;&nbsp;&nbsp;E. <u>Contracts Affecting Operations</u>: Until closing, Seller: (1) will operate the Property in the same manner as on the effective date under
 reasonably prudent business standards; and (2) will not transfer or dispose of any part of the Property, any interest or right in
 the Property, or any of the personal property or other items described in Paragraph 2B or sold under this contract. After the feasibility
 period ends, Seller may not enter into, amend, or terminate any other contract that affects the operations of the Property without
 Buyer's written approval.

**8.** **LEASES:** 

&nbsp;&nbsp;&nbsp;&nbsp;A. Each
 written lease Seller is to assign to Buyer under this contract must be in full force and effect according to its terms. Seller may
 not enter into any new lease, fail to comply with any existing lease, or make any amendment or modification to any existing lease
 without Buyer's written consent. Seller must disclose, in writing, if any of the following exist at the time Seller provides
 the leases to the Buyer or subsequently occur before closing:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) any
 failure by Seller to comply with Seller's obligations under the leases;

(2) any
 circumstances under any lease that entitle the tenant to terminate the lease or seek any offsets or damages;

(3) any
 advance sums paid by a tenant under any lease;

(4) any
 concessions, bonuses, free rents, rebates, brokerage commissions, or other matters that affect any lease; and

(5) any
 amounts payable under the leases that have been assigned or encumbered, except as security for loan(s) assumed or taken subject to
 under this contract.

&nbsp;&nbsp;&nbsp;&nbsp;B. <u>Estoppel Certificates</u>: Within ________ days after the effective date, Seller will deliver to Buyer estoppel certificates signed not earlier
 than ______________________ by each tenant that leases space in the Property. The estoppel certificates must include the certifications contained
 in the current version of TXR Form 1938 - Commercial Tenant Estoppel Certificate and any additional information requested by a third
 party lender providing financing under Paragraph 4 if the third party lender requests such additional information at least 10 days
 prior to the earliest date that Seller may deliver the signed estoppel certificates.

![](ex10-1_007.jpg)

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| | |
|:---|:---|
| Commercial Contract - Unimproved Property concerning | **301 S BAGDAD RD, LEANDER, TX 78641** |

---

**9.** **BROKERS:** 

&nbsp;&nbsp;&nbsp;&nbsp;A. The
 brokers to this sale are:

---

| | | | |
|:---|:---|:---|:---|
| **Principal Broker:** | **MSL Investments** | **Cooperating Broker:** | **Dreamz Realty LLC** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Agent:** | **Sarah Teel** | **Agent:** | **Saradhi Vallabhajosyula** |
| **Address:** | **P.O. Box 592178** | **Address:** | **9704 Spanish Wells Dr.** |
|  | **San Antonio, Texas 78259** |  | **Austin, TX 78717** |
| **Phone & Fax:** | **(210) 323-6999** | **Phone & Fax:** | **(512)791-3984** |
| **E-mail:** | **sarah@mslinvestments.com** | **E-mail:** | **saradhipardha06@gmail.com** |
| **License No.:** | **495680** | **License No.:** | **743783** |

---

---

| | |
|:---|:---|
| **Principal Broker: *(Check only one box)*** | **Cooperating Broker represents Buyer.** |
| **☒ represents Seller only.** |  |
| **☐ represents Buyer only.** |  |
| **☐ is an intermediary between Seller and Buyer.** |  |

---

B. <u>Fees</u>: *(Check only (1) or (2) below.)* <br> *(Complete the Agreement Between Brokers on page 14 only if (1) is selected.)*

 

---

| | | |
|:---|:---|:---|
| ☐ | (1) | Seller will pay Principal Broker the fee specified by separate written commission agreement between Principal Broker and Seller. Principal Broker will pay Cooperating Broker the fee specified in the Agreement Between Brokers found below the parties' signatures to this contract. |
| ☒ | (2) | At the closing of this sale, Seller will pay: |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal Broker a total cash fee of:** | **Principal Broker a total cash fee of:** | **Cooperating Broker a total cash fee of:** | **Cooperating Broker a total cash fee of:** |
| **☒** | **<u>3.000</u> % of the sales price.** | **☒** | **<u>3.000</u>% of the sales price.** |
| **☐** |  | **☐** |  |

---

The cash fees will be paid in  **<u>Williamson</u>** County, Texas. Seller authorizes the title company to pay the brokers from the Seller's proceeds at closing.

*NOTICE: Chapter 62, Texas Property Code, authorizes a broker to secure an earned commission with a lien against the Property.*

 

&nbsp;&nbsp;&nbsp;&nbsp;C. The
 parties may not amend this Paragraph 9 without the written consent of the brokers affected by the amendment.

**10.** **CLOSING:** 

&nbsp;&nbsp;&nbsp;&nbsp;A. The
 date of the closing of the sale (closing date) will be on or before the later of:

---

| | | | |
|:---|:---|:---|:---|
| (1) | **☒** | **15** | days after the expiration of the feasibility period. |
|  | ☐ |  | *______________________ (specific date)*. |
|  | ☐ |  | __________________________________________________________________________. |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) 7
 days after objections made under Paragraph 6C have been cured or waived.

&nbsp;&nbsp;&nbsp;&nbsp;B. If
 either party fails to close by the closing date, the non-defaulting party may exercise the remedies in Paragraph 15.

![](ex10-1_008.jpg)

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| | |
|:---|:---|
| Commercial Contract - Unimproved Property concerning | **301 S BAGDAD RD, LEANDER, TX 78641** |

---

&nbsp;&nbsp;&nbsp;&nbsp;C. At
 closing, Seller will execute and deliver, at Seller's expense, a ☐ general ☒ special warranty deed.

The deed must include a vendor's lien if any part of the sales price is financed. The deed must convey good and indefeasible title to the Property and show no exceptions other than those permitted under Paragraph 6 or other provisions of this contract. Seller must convey the Property:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) with
 no liens, assessments, or other security interests against the Property which will not be satisfied out of the sales price, unless
 securing loans Buyer assumes;

(2) without
 any assumed loans in default; and

(3) with
 no persons in possession of any part of the Property as lessees, tenants at sufferance, or trespassers except tenants under the written
 leases assigned to Buyer under this contract.

&nbsp;&nbsp;&nbsp;&nbsp;D. At
 closing, Seller, at Seller's expense, will also deliver to Buyer:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) tax
 statements showing no delinquent taxes on the Property;

(2) an
 assignment of all leases to or on the Property;

(3) to
 the extent assignable, an assignment to Buyer of any licenses and permits related to the Property;

(4) evidence
 that the person executing this contract is legally capable and authorized to bind Seller;

(5) an
 affidavit acceptable to the title company stating that Seller is not a foreign person or, if Seller is a foreign person, a written
 authorization for the title company to: (i) withhold from Seller's proceeds an amount sufficient to comply with applicable
 tax law; and (ii) deliver the amount to the Internal Revenue Service (RS) together with appropriate tax forms; and

(6) any
 notices, statements, certificates, affidavits, releases, and other documents required by this contract, the commitment, or law necessary
 for the closing of the sale and issuance of the title policy, all of which must be completed by Seller as necessary.

&nbsp;&nbsp;&nbsp;&nbsp;E. At
 closing, Buyer will:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) pay
 the sales price in good funds acceptable to the title company;

(2) deliver
 evidence that the person executing this contract is legally capable and authorized to bind Buyer;

(3) sign
 and send to each tenant in a lease for any part of the Property a written statement that:

(a) acknowledges
 Buyer has received and is responsible for the tenant's security deposit; and

(b) specifies
 the exact dollar amount of the security deposit;

(4) sign
 an assumption of all leases then in effect; and

(5) execute
 and deliver any notices, statements, certificates, or other documents required by this contract or law necessary to close the sale.

&nbsp;&nbsp;&nbsp;&nbsp;F. Unless
 the parties agree otherwise, the closing documents will be as found in the basic forms in the current edition of the State Bar of
 Texas Real Estate Forms Manual without any additional clauses.

**11.** **POSSESSION:** Seller will deliver possession of the Property to Buyer upon closing and funding of this sale in its present condition with any
 repairs Seller is obligated to complete under this contract, ordinary wear and tear excepted. Any possession by Buyer before closing
 or by Seller after closing that is not authorized by a separate written lease agreement is a landlord-tenant at sufferance relationship
 between the parties.

**12.** **SPECIAL PROVISIONS:** The following special provisions apply and will control in the event of a conflict with other provisions of this
 contract. *(If special provisions are contained in an Addendum, identify the Addendum here and reference the Addendum in Paragraph 22D.)* 

 

![](ex10-1_009.jpg) 

 

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|:---|:---|
| Commercial Contract - Unimproved Property concerning | **301 S BAGDAD RD, LEANDER, TX 78641** |

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**13.** **SALES EXPENSES:** 

&nbsp;&nbsp;&nbsp;&nbsp;A. <u>Seller's Expenses</u>: Seller will pay for the following at or before closing:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) releases
 of existing liens, other than those liens assumed by Buyer, including prepayment penalties and recording fees;

(2) release
 of Seller's loan liability, if applicable;

(3) tax
 statements or certificates;

(4) preparation
 of the deed;

(5) one-half
 of any escrow fee;

(6) costs
 to record any documents to cure title objections that Seller must cure; and

(7) other
 expenses that Seller will pay under other provisions of this contract.

&nbsp;&nbsp;&nbsp;&nbsp;B. <u>Buyer's Expenses</u>: Buyer will pay for the following at or before closing:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) all
 loan expenses and fees;

(2) preparation
 of any deed of trust;

(3) recording
 fees for the deed and any deed of trust;

(4) premiums
 for flood insurance as may be required by Buyer's lender;

(5) one-half
 of any escrow fee;

(6) other
 expenses that Buyer will pay under other provisions of this contract.

**14.** **PRORATIONS:** 

&nbsp;&nbsp;&nbsp;&nbsp;A. <u>Prorations</u>:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Interest
 on any assumed loan, taxes, rents, and any expense reimbursements from tenants will be prorated through the closing date.

(2) If
 the amount of ad valorem taxes for the year in which the sale closes is not available on the closing date, taxes will be prorated
 on the basis of taxes assessed in the previous year. If the taxes for the year in which the sale closes vary from the amount prorated
 at closing, the parties will adjust the prorations when the tax statements for the year in which the sale closes become available.
 This Paragraph 14A(2) survives closing.

(3) If
 Buyer assumes a loan or is taking the Property subject to an existing lien, Seller will transfer all reserve deposits held by the
 lender for the payment of taxes, insurance premiums, and other charges to Buyer at closing and Buyer will reimburse such amounts
 to Seller by an appropriate adjustment at closing.

&nbsp;&nbsp;&nbsp;&nbsp;B. <u>Rollback Taxes</u>: If Seller's use or change in use of the Property before closing results in the assessment of additional taxes, penalties,
 or interest (assessments) for periods before closing, the assessments will be the obligation of the Seller. If this sale or Buyer's
 use of the Property after closing results in additional assessments for periods before closing, the assessments will be the obligation
 of Buyer. This Paragraph 14B survives closing.

C. <u>Rent and Security Deposits</u>: At closing, Seller will tender to Buyer all security deposits and the following advance payments received
 by Seller for periods after closing: prepaid expenses, advance rental payments, and other advance payments paid by tenants. Rents
 prorated to one party but received by the other party will be remitted by the recipient to the party to whom it was prorated within
 5 days after the rent is received. This Paragraph 14C survives closing.

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|:---|:---|
| Commercial Contract - Unimproved Property concerning | **301 S BAGDAD RD, LEANDER, TX 78641** |

---

**15.** **DEFAULT:** 

A. If Buyer fails to comply with this contract, Buyer is in default and Seller, as Seller's sole remedy(ies), may terminate this contract and receive the earnest money, as liquidated damages for Buyer's failure except for any damages resulting from Buyer's inspections, studies or assessments in accordance with Paragraph 7C(3) which Seller may pursue; or *(Check if applicable)*

☐ enforce specific performance, or seek such other relief as may be provided by law.

&nbsp;&nbsp;&nbsp;&nbsp;B. If,
 without fault, Seller is unable within the time allowed to deliver the estoppel certificates, survey or the commitment, Buyer may:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) terminate
 this contract and receive the earnest money, less any independent consideration under Paragraph 7B(1), as liquidated damages and
 as Buyer's sole remedy; or

(2) extend
 the time for performance up to 15 days and the closing will be extended as necessary.

&nbsp;&nbsp;&nbsp;&nbsp;C. Except
 as provided in Paragraph 15B, if Seller fails to comply with this contract, Seller is in default and Buyer may:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) terminate
 this contract and receive the earnest money, less any independent consideration under Paragraph 7B(1), as liquidated damages and
 as Buyer's sole remedy; or

(2) enforce
 specific performance, or seek such other relief as may be provided by law, or both.

**16.** **CONDEMNATION:** If before closing, condemnation proceedings are commenced against any part of the Property, Buyer may:

&nbsp;&nbsp;&nbsp;&nbsp;A. terminate
 this contract by providing written notice to Seller within 15 days after Buyer is advised of the condemnation proceedings and the
 earnest money, less any independent consideration paid under Paragraph 7B(1), will be refunded to Buyer; or

B. appear
 and defend in the condemnation proceedings and any award will, at Buyer's election, belong to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Seller
 and the sales price will be reduced by the same amount; or

(2) Buyer
 and the sales price will not be reduced.

**17.** **ATTORNEY'S FEES:** If Buyer, Seller, any broker, or the title company is a prevailing party in any legal proceeding brought under or with
 relation to this contract or this transaction, such party is entitled to recover from the non-prevailing parties all costs of such
 proceeding and reasonable attorney's fees. This Paragraph 17 survives termination of this contract.

**18.** **ESCROW:** 

&nbsp;&nbsp;&nbsp;&nbsp;A. At
 closing, the earnest money will be applied first to any cash down payment, then to Buyer's closing costs, and any excess will
 be refunded to Buyer. If no closing occurs, the title company may require payment of unpaid expenses incurred on behalf of the parties
 and a written release of liability of the title company from all parties.

B. If
 one party makes written demand for the earnest money, the title company will give notice of the demand by providing to the other
 party a copy of the demand. If the title company does not receive written objection to the demand from the other party within 15
 days after the date the title company sent the demand to the other party, the title company may disburse the earnest money to the
 party making demand, reduced by the amount of unpaid expenses incurred on behalf of the party receiving the earnest money and the
 title company may pay the same to the creditors.

C. The
 title company will deduct any independent consideration under Paragraph 7B(1) before disbursing any earnest money to Buyer and will
 pay the independent consideration to Seller.

D. If
 the title company complies with this Paragraph 18, each party hereby releases the title company from all claims related to the disbursal
 of the earnest money.

E. Notices
 under this Paragraph 18 must be sent by certified mail, return receipt requested. Notices to the title company are effective upon
 receipt by the title company.

![](ex10-1_011.jpg)

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| | |
|:---|:---|
| Commercial Contract - Unimproved Property concerning | **301 S BAGDAD RD, LEANDER, TX 78641** |

---

&nbsp;&nbsp;&nbsp;&nbsp;F. Any
 party who wrongfully fails or refuses to sign a release acceptable to the title company within 7 days after receipt of the request
 will be liable to the other party for: (i) damages; (ii) the earnest money; (iii) reasonable attorney's fees; and (iv) all
 costs of suit.

G. ☐
 Seller ☐ Buyer intend(s) to complete this transaction as a part of an exchange of like-kind properties in accordance with Section
 1031 of the Internal Revenue Code, as amended. All expenses in connection with the contemplated exchange will be paid by the
 exchanging party. The other party will not incur any expense or liability with respect to the exchange. The parties agree to cooperate
 fully and in good faith to arrange and consummate the exchange so as to comply to the maximum extent feasible with the provisions
 of Section 1031 of the Internal Revenue Code. The other provisions of this contract will not be affected in the event the
 contemplated exchange fails to occur.

**19.** **MATERIAL FACTS:** To the best of Seller's knowledge and belief: *(Check only one box.)* 

☐ A. Seller is not aware of any material defects to the Property except as stated in the attached Commercial Property Condition Statement (TXR-1408). <br>☒ B. Except as otherwise provided in this contract, Seller is not aware of:

---

| | |
|:---|:---|
| (1) | any subsurface: structures, pits, waste, springs, or improvements; |
| (2) | any pending or threatened litigation, condemnation, or assessment affecting the Property; |
| (3) | any environmental hazards or conditions that materially affect the Property; |
| (4) | whether the Property is or has been used for the storage or disposal of hazardous materials or toxic waste, a dump site or landfill, or any underground tanks or containers; |
| (5) | whether radon, asbestos containing materials, urea-formaldehyde foam insulation, lead-based paint, toxic mold (to the extent that it adversely affects the health of ordinary occupants), or other pollutants or contaminants of any nature now exist or ever existed on the Property; |
| (6) | any wetlands, as defined by federal or state law or regulation, on the Property; |
| (7) | any threatened or endangered species or their habitat on the Property; |
| (8) | any present or past infestation of wood-destroying insects in the Property's improvements; |
| (9) | any contemplated material changes to the Property or surrounding area that would materially and detrimentally affect the ordinary use of the Property; |
| (10) | any condition on the Property that violates any law or ordinance. |
| *(Describe any exceptions to (1)-(10) in Paragraph 12 or an addendum.)* | *(Describe any exceptions to (1)-(10) in Paragraph 12 or an addendum.)* |

---

**20.** **NOTICES:** All notices between the parties under this contract must be in writing and are effective when hand-delivered, mailed by certified
 mail return receipt requested, sent by a national or regional overnight delivery service that provides a delivery receipt, or sent
 by confirmed facsimile transmission to the parties addresses or facsimile numbers stated in Paragraph 1. The parties will send copies
 of any notices to the broker representing the party to whom the notices are sent.

☒ A. Seller
 also consents to receive any notices by e-mail at Seller's e-mail address stated in Paragraph 1.

☒ B. Buyer
 also consents to receive any notices by e-mail at Buyer's e-mail address stated in Paragraph 1.

**21.** **DISPUTE RESOLUTION:** The parties agree to negotiate in good faith in an effort to resolve any dispute related to this contract that may
 arise. If the dispute cannot be resolved by negotiation, the parties will submit the dispute to mediation before resorting to arbitration
 or litigation and will equally share the costs of a mutually acceptable mediator. This paragraph survives termination of this contract.
 This paragraph does not preclude a party from seeking equitable relief from a court of competent jurisdiction.

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|:---|:---|
| Commercial Contract - Unimproved Property concerning | **301 S BAGDAD RD, LEANDER, TX 78641** |

---

**22.** **AGREEMENT OF THE PARTIES:** 

&nbsp;&nbsp;&nbsp;&nbsp;A. This
 contract is binding on the parties, their heirs, executors, representatives, successors, and permitted assigns. This contract is
 to be construed in accordance with the laws of the State of Texas. If any term or condition of this contract shall be held to be
 invalid or unenforceable, the remainder of this contract shall not be affected thereby. All individuals signing represent that they
 have the authority to sign on behalf of and bind the party for whom they are signing.

&nbsp;&nbsp;&nbsp;&nbsp;B. This
 contract contains the entire agreement of the parties and may not be changed except in writing.

C. If
 this contract is executed in a number of identical counterparts, each counterpart is an original and all counterparts, collectively,
 constitute one agreement.

D. Addenda
 which are part of this contract are: *(Check all that apply.)* 

 

---

| | | |
|:---|:---|:---|
| ☐ | (1) | Property Description Exhibit identified in Paragraph 2; |
| ☐ | (2) | Commercial Contract Financing Addendum (TXR-1931); |
| ☐ | (3) | Commercial Property Condition Statement (TXR-1408); |
| ☐ | (4) | Commercial Contract Addendum for Special Provisions (TXR-1940); |
| ☐ | (5) | Notice to Purchaser of Real Property in a Water District (MUD); |
| ☐ | (6) | Addendum for Coastal Area Property (TXR-1915); |
| ☐ | (7) | Addendum for Property Located Seaward of the Gulf intracoastal Waterway (TXR-1916); |
| ☒ | (8) | Information About Brokerage Services (TXR-2501); |
| ☐ | (9) | Information About Mineral Clauses in Contract Forms (TXR-2509); |
| ☐ | (10) | Notice of Obligation to Pay improvement District Assessment (TXR-1955, P D); and |
| ☐ | (11) |  |
|  |  | . |

---

 

*(Note: Counsel for Texas REALTORS® has determined that any of the foregoing addenda which are promulgated by the Texas Real Estate Commission (TREC) or published by Texas REALTORS® are appropriate for use with this form.)*

 

&nbsp;&nbsp;&nbsp;&nbsp;E. Buyer
 ☒ may ☐ may not assign this contract. If Buyer assigns this contract, Buyer will be relieved of any future liability
 under this contract only if the assignee assumes, in writing, all obligations and liability of Buyer under this
 contract.

**23.** **TIME:** Time is of the essence in this contract. The parties require strict compliance with the times for performance. If the last day
 to perform under a provision of this contract falls on a Saturday, Sunday, or federal reserve bank holiday, the time for performance
 is extended until the end of the next day which is not a Saturday, Sunday, or federal reserve bank holiday.

**24.** **EFFECTIVE DATE:** The effective date of this contract for the purpose of performance of all obligations is the date the title company receipts
 this contract after all parties execute this contract.

**25.** **ADDITIONAL NOTICES:** 

&nbsp;&nbsp;&nbsp;&nbsp;A. Buyer
 should have an abstract covering the Property examined by an attorney of Buyer's selection, or Buyer should be furnished with
 or obtain a title policy.

B. If
 the Property is situated in a utility or other statutorily created district providing water, sewer, drainage, or flood control facilities
 and services, Chapter 49, Texas Water Code, requires Seller to deliver and Buyer to sign the statutory notice relating to the tax
 rate, bonded indebtedness, or standby fees of the district before final execution of this contract.

C. Notice
 Required by §13.257, Water Code: "The real property, described below, that you are about to purchase may be located in
 a certificated water or sewer service area, which is authorized by law to provide water or sewer service to the properties in the
 certificated area. If your property is located in a certificated area there may be special costs or charges that you will be required
 to pay before you can receive water or sewer service. There may be a period required to construct lines or other facilities necessary
 to provide water or sewer service to your property. You are advised to determine if the property is in a certificated area and contact
 the utility service provider to determine the cost that you will be required to pay and the period, if any, that is required to provide
 water or sewer service to your property. The undersigned purchaser hereby acknowledges receipt of the foregoing notice at or before
 the execution of a binding contract for the purchase of the real property described in the notice or at closing of purchase of the
 real property." The real property is described in Paragraph 2 of this contract.

![](ex10-1_013.jpg)

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|:---|:---|
| Commercial Contract - Unimproved Property concerning | **301 S BAGDAD RD, LEANDER, TX 78641** |

---

&nbsp;&nbsp;&nbsp;&nbsp;D. If
 the Property adjoins or shares a common boundary with the tidally influenced submerged lands of the state, §33.135 of the Texas
 Natural Resources Code requires a notice regarding coastal area property to be included as part of this contract *(the Addendum for Coastal Area Property (TXR-1915) may be used).* 

E. If
 the Property is located seaward of the Gulf intracoastal Waterway, §61.025, Texas Natural Resources Code, requires a notice regarding
 the seaward location of the Property to be included as part of this contract *(the Addendum for Property Located Seaward of the Gulf Intracoastal Waterway (TXR-1916) may be used).* 

F. If
 the Property is located outside the limits of a municipality, the Property may now or later be included in the extra-territorial
 jurisdiction (ETJ) of a municipality and may now or later be subject to annexation by the municipality. Each municipality maintains
 a map that depicts its boundaries and ETJ. To determine if the Property is located within a municipality's ETJ, Buyer should
 contact all municipalities located in the general proximity of the Property for further information.

G. Brokers
 are not qualified to perform property inspections, surveys, engineering studies, environmental assessments, or inspections to determine
 compliance with zoning, governmental regulations, or laws. Buyer should seek experts to perform such services. Buyer should review
 local building codes, ordinances and other applicable laws to determine their effect on the Property. Selection of experts, inspectors,
 and repairmen is the responsibility of Buyer and not the brokers. Brokers are not qualified to determine the credit worthiness of
 the parties.

H. NOTICE OF WATER LEVEL FLUCTUATIONS: If the Property adjoins an impoundment of water, including a reservoir or lake, constructed and maintained
 under Chapter 11, Water Code, that has a storage capacity of at least 5,000 acre-feet at the impoundment's normal operating
 level, Seller hereby notifies Buyer: "The water level of the impoundment of water adjoining the Property fluctuates for various
 reasons, including as a result of: (1) an entity lawfully exercising its right to use the water stored in the impoundment; or (2)
 drought or flood conditions."

I. PUBLIC IMPROVEMENT DISTRICTS: If the Property is in a public improvement district, Seller is required by §5.014, Property Code to
 give Buyer a written notice concerning the obligation to pay assessments. The form of the required notice is available as a part
 of the Notice of Obligation to Pay improvement District Assessment (TXR-1955).

J. LICENSE HOLDER DISCLOSURE: Texas law requires a real estate license holder who is a party to a transaction or acting on behalf of a
 spouse, parent, child, business entity in which the license holder owns more than 10%, or a trust for which the license holder acts
 as a trustee or of which the license holder or the license holder's spouse, parent or child is a beneficiary, to notify the
 other party in writing before entering into a contract of sale. Disclose if applicable:  **<u>N/A</u>** .

**26.** **CONTRACT AS OFFER:** The execution of this contract by the first party constitutes an offer to buy or sell the Property. Unless the other
 party accepts the offer by 5:00 p.m., in the time zone in which the Property is located, on <u>January 4, 2023</u>, the offer
 will lapse and become null and void.

![](ex10-1_014.jpg)

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| | |
|:---|:---|
| Commercial Contract - Unimproved Property concerning | **301 S BAGDAD RD, LEANDER, TX 78641** |

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**READ THIS CONTRACT CAREFULLY. The brokers and agents make no representation or recommendation as to the legal sufficiency, legal effect, or tax consequences of this document or transaction. CONSULT your attorney BEFORE signing.**

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| | | | |
|:---|:---|:---|:---|
| **Seller:** | **LEANDER ASSOCIATES LTD** | **Buyer:** | **PN9 Realty LLC and/or assigns** |

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| | |
|:---|:---|
| By: | */s/ Praveen Guduru* |

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| | | | |
|:---|:---|:---|:---|
| By (signature): | */s/ BJ Parrish* | By (signature): | |
| Printed Name: | **BJ Parrish** | Printed Name: | **Praveen Guduru** |
| Title: | **Managing Member** | Title: | |

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By:   By:  

By (signature):   By (signature):   <br> Printed Name:   Printed Name:   <br> Title:   Title:  

![](ex10-1_018.jpg)

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| | |
|:---|:---|
| Commercial Contract - Unimproved Property concerning | **301 S BAGDAD RD, LEANDER, TX 78641** |

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**AGREEMENT BETWEEN BROKERS**

*(use only if Paragraph 9B(1) is effective)*

Principal Broker agrees to pay ____________________________________________ (Cooperating Broker) a fee when the Principal Broker's fee is received. The fee to be paid to Cooperating Broker will be:

☐ $_______________________________, or

☐ ____________________ % of the sales price, or

☐ ____________________ % of the Principal Broker's fee.

The title company is authorized and directed to pay Cooperating Broker from Principal Broker's fee at closing. This Agreement Between Brokers supersedes any prior offers and agreements for compensation between brokers.

Principal Broker:   Cooperating Broker:   <br>  

By:

**ATTORNEYS**

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| | |
|:---|:---|
| Seller's attorney: | Buyer's attorney: |
| Address: | Address: |
| Phone & Fax: | Phone & Fax: |
| E-mail: | E-mail: |

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| | | | |
|:---|:---|:---|:---|
| Seller's attorney requests copies of documents, notices, and other information: | Seller's attorney requests copies of documents, notices, and other information: | Buyer's attorney requests copies of documents, notices, and other information: | Buyer's attorney requests copies of documents, notices, and other information: |
| ☐ | the title company sends to Seller. | ☐ | the title company sends to Buyer. |
| ☐ | Buyer sends to Seller. | ☐ | Seller sends to Buyer. |

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**ESCROW RECEIPT**

The title company acknowledges receipt of:

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| | | |
|:---|:---|:---|
| ☐ | A. | the contract on this day __________January 4, 2023 __________ (effective date);  |
| ☐ | B. | earnest money in the amount of $______________________________ in the form of ____________________on. |

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Title company: <u>Presidio Title LLC</u> Address: <u> 7373 Broadway #105</u> <br> <u>San Antonio, TX 78209</u>

By: <u>Danita Sherrill for Don Walker</u> Phone & Fax:  

Assigned file number (GF#)   E-mail:  

![](ex10-1_015.jpg)

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| | | |
|:---|:---|:---|
| ![](ex10-1_016.jpg) | PROMULGATED BY THE TEXAS REAL ESTATE COMMISSION (TREC) |  |
| ![](ex10-1_016.jpg) |  | 11-18-14 |
| ![](ex10-1_016.jpg) | **ADDENDUM FOR RESERVATION OF OIL, GAS, AND OTHER MINERALS** |  |
| ![](ex10-1_016.jpg) |  |  |
| ![](ex10-1_016.jpg) | **ADDENDUM TO CONTRACT CONCERNING THE PROPERTY AT** |  |

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| |
|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**301 S BAGDAD RD, LEANDER, TX 78641** |
| (Street Address and City) |

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*NOTICE: For use ONLY if Seller reserves all or a portion of the Mineral Estate.*

A. "Mineral
 Estate" means all oil, gas, and other minerals in and under and that may be produced from the Property, any royalty under any
 existing or future mineral lease covering any part of the Property, executive rights (including the right to sign a mineral lease
 covering any part of the Property), implied rights of ingress and egress, exploration and development rights, production and drilling
 rights, mineral lease payments, and all related rights and benefits. The Mineral Estate does NOT include water, sand, gravel, limestone,
 building stone, caliche, surface shale, near-surface lignite, and iron, but DOES include the reasonable use of these surface materials
 for mining, drilling, exploring, operating, developing, or removing the oil, gas, and other minerals from the Property.

B. *Subject to Section C below*, the Mineral Estate owned by Seller, if any, will be conveyed unless reserved as follows (check one box only):

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| | | |
|:---|:---|:---|
| ☐ | (1) | Seller reserves all of the Mineral Estate owned by Seller. |
| ☒ | (2) | Seller reserves an undivided _________________ interest in the Mineral Estate owned by Seller*. NOTE: If Seller does not own all of the Mineral Estate, Seller reserves only this percentage or fraction of Seller's interest.* |

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C. Seller
 ☐ *does* ☒ *does not* reserve and retain implied rights of ingress and egress and of reasonable use of
 the Property (including surface materials) for mining, drilling, exploring, operating, developing, or removing the oil, gas, and
 other minerals. *NOTE: Surface rights that may be held by other owners of the Mineral Estate who are not parties to this transaction (including existing mineral lessees) will NOT be affected by Seller's election. Seller's failure to complete Section C will be deemed an election to convey all surface rights described herein.* 

D. If
 Seller does not reserve all of Seller's interest in the Mineral Estate, Seller shall, within 7 days after the Effective Date,
 provide Buyer with the contact information of any existing mineral lessee known to Seller.

**<u>IMPORTANT NOTICE</u>: The Mineral Estate affects important rights, the full extent of which may be unknown to Seller. A full examination of the title to the Property completed by an attorney with expertise in this area is the only proper means for determining title to the Mineral Estate with certainty. In addition, attempts to convey or reserve certain interest out of the Mineral Estate separately from other rights and benefits owned by Seller may have unintended consequences. Precise contract language is essential to preventing disagreements between present and future owners of the Mineral Estate. If Seller or Buyer has any questions about their respective rights and interests in the Mineral Estate and how such rights and interests may be affected by this contract, they are strongly encouraged to consult an attorney with expertise in this area.**

**CONSULT AN ATTORNEY BEFORE SIGNING:** TREC rules prohibit real estate licensees from giving legal advice. READ THIS FORM CAREFULLY.

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| | |
|:---|:---|
| */s/ Praveen Guduru* | */s/ BJ Parrish* |
| Buyer **Praveen Guduru** | Seller **LEANDER ASSOCIATES LTD** |
| Buyer | Seller |

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The form of this addendum has been approved by the Texas Real Estate Commission for use only with similarly approved or promulgated forms of contracts. Such approval relates to this contract form only. TREC forms are intended for use only by trained real estate licensees. No representation is made as to the legal validity or adequacy of any provision in any specific transactions. It is not intended for complex transactions. Texas Real Estate Commission, P.O. Box 12188, Austin, TX 78711-2188, 512-9@A-@000 (http:CCwww.trec.texas.gov) TREC No. 44-2. This form replaces TREC No. 44-1.

![](ex10-1_017.jpg)