Document:

Exhibit 10.17

 

MODIFICATION AGREEMENT

 

This MODIFICATION AGREEMENT
(“Agreement”) is entered into effective as of March __, 2022, by and between FIRSTBANK, a Tennessee banking corporation
(“Lender”), and GVEST SPRINGLAKE HOMES LLC, a Delaware limited liability company (“Borrower”),
GVEST FINANCE LLC, a North Carolina limited liability company (“GVEST Finance”), and RAYMOND M. GEE (individually
each a “Guarantor” and, collectively, the “Guarantors”).

 

A. Lender
previously made a loan to Borrower on November 12, 2021, in the maximum principal amount of $2,000,000.00 (as increased herein, the “Loan”),
which Loan is evidenced, governed, and/or secured by the following (collectively, the “Original Loan Documents”): (a)
that certain Loan and Security Agreement dated November 12, 2021 by and between Lender, Borrower, and the Guarantors (the “Loan
Agreement”); (b) that certain Promissory Note dated November 12, 2021 made by Borrower payable to the order of Lender in the
original principal amount of $2,000,000.00 (the “Note”); (c) those certain Guaranties each dated November 12, 2021 executed
by each Guarantor for the benefit of Lender (each a “Guaranty” and, collectively, the “Guaranties”);
(d) that certain Assignment of Ownership Interest dated November 12, 2021 by and between Lender and GVEST Finance (the “Assignment”);
(e) that certain Assignment of Management Agreement dated November 12, 2021 by and between Lender and Mobile Homes Rentals LLC, a North
Carolina limited liability company (the “Acknowledgement”); (f) that certain Remarketing Agreement dated November 12,
2021 by and between Lender and the other parties thereto (the “Remarketing Agreement”); and (g) the other related documents
executed by Borrower, a Guarantor, or third parties pertaining to, evidencing, and/or securing the Loan.

 

B. Lender,
Borrower, and each Guarantor now propose to (a) increase the principal amount of the Loan and (b) modify certain of the terms and provisions
of the Original Loan Documents.

 

NOW, THEREFORE, for and in
consideration of the premises and the mutual covenants and agreements contained herein, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, Lender, Borrower, and each Guarantor hereby agree as follows:

 

1. Recitals.
The above recitals serve as the basis for this Agreement and are incorporated herein and made a part hereof for all purposes. Borrower,
Guarantors, and Lender each hereby acknowledge the above recitals to be true and correct as of the date hereof are incorporated herein
and made a part hereof for all purposes. The recitals are a substantive, contractual part of this Agreement.

 

2. Loan
Documents. “Loan Documents” means, collectively, the Original Loan Documents, as amended herein, this Agreement,
and each document, paper or certificate executed, furnished or delivered in connection with this Agreement, including, without limitation,
those documents referenced in Section 3 herein, and all other documents, certificates, reports, and instruments that this Agreement
requires or that were executed or delivered (or both) at Lender’s request, all as the same may be amended, modified or supplemented from
time to time. Capitalized terms not otherwise defined herein shall have such meaning as set forth in the applicable Loan Documents.

 

3. Conditions
Precedent. The obligation of Lender to increase the principal amount of the Loan, modify certain of the terms and provisions of the
Original Loan Documents, or make any additional advances hereunder or under the Loan (as amended, modified, or extended hereby) is subject
to the conditions precedent that Lender shall have received all of the following, duly executed and in form and substance satisfactory
to Lender and its legal counsel:

 

(a) the
Renewal Note.

 

(b) this
Agreement.

 

    Modification Agreement - Page 1 of 9 

     

    

 

(c) an
Amended and Restated Guaranty from each Guarantor in favor of Lender, dated as of the date hereof.

 

(d) a
Modification Agreement by Lender, Land Borrower, and the Guarantors (as defined in the Land Loan Agreement).

 

(e) a
closing statement dated as of the date hereof by and between Lender and Borrower.

 

(f) a
copy of the resolutions or written consents of Borrower authorizing the execution and delivery of the Renewal Note, this Agreement, and
the execution and delivery of the Loan Documents.

 

(g) a
copy of the resolutions or written consents of GVEST Finance, authorizing the execution and delivery of this Agreement, an Amended and
Restated Guaranty, and the execution and delivery of the Loan Documents.

 

(h) a
current certificate of good standing for Borrower and GVEST Finance from their respective states of formation.

 

(i) UCC,
bankruptcy, judgment, tax, and Lien search on Borrower, satisfactory to Lender.

 

(j) all
fees and expenses (including attorneys’ fees) incurred by Lender in connection with this Agreement and the Loan Documents.

 

(k) if
required by Lender, a post-closing obligations letter dated as of the date hereof from Borrower for the benefit of Lender.

 

4. Current
Note Balance. As of the date hereof, the current outstanding principal balance of the Note is $1,892,481.

 

5. Increase
of Note and Loan. The stated principal amount of the Loan is increased by the amount of One Million Three Hundred Thousand AND NO/l00
DOLLARS ($1,300,000.00), to the amount of Three Million Three Hundred Thousand and No/100 Dollars ($3,300,000.00). Borrower hereby promises
to pay to the order of Lender the principal sum of the Note, as hereby increased, or so much thereof as may be advanced, less any repayments
of the principal thereof heretofore made, together with interest thereon at the rate, on the dates and in the manner specified in the
Note as modified hereby.

 

6. Renewal
Promissory Note. Contemporaneously with the execution and delivery of this Agreement, Borrower shall execute and deliver to Lender
that certain Amended and Restated Promissory Note (“Renewal Note”) in the principal amount of Three Million Three Hundred
Thousand and No/100 Dollars ($3,300,000.00) to evidence the indebtedness originally evidenced by the Note as increased herein. The Renewal
Note shall be in renewal and restatement of the terms and provisions governing the repayment of the indebtedness evidenced by the Note.
Notwithstanding such renewal and restatement, Borrower acknowledges that the indebtedness originally evidenced by the Note shall be renewed
by and continued in full force and effect (and the Renewal Note shall not extinguish, be substituted for, or effect a novation of the
Note) in accordance with the terms and conditions of the Renewal Note, and the Renewal Note shall be secured by the liens and security
interests of the Loan Documents as modified herein.

 

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7. Amendments
to Loan Agreement. The Loan Agreement is hereby amended, modified, or restated as follows:

 

(a) Section
2.2 of the Loan Agreement is hereby deleted in its entirety and replaced with the following:

 

Promissory Note.
The Loan is evidenced by that certain Promissory Note dated as of November 12, 2021 made by Borrower payable to the order of Lender in
the original principal amount of $2,000,000.00, as amended and restated pursuant to that certain Amended and Restated Promissory Note
dated as of March 29, 2022 made by Borrower payable to the order of Lender in the original principal amount of $3,300,000.00 (and all
amendments, restatements, renewals, modifications, and extensions thereof, the “Note”). Interest on the principal amount
outstanding from time to time shall be charged as provided in the Note and, should the rate of interest as calculated thereunder exceed
that allowed by law, the applicable rate of interest will be the maximum rate of interest allowed by applicable law.

 

(b) The
year “2021” set forth in Section 8.23(a)(i) and (a)(ii), is hereby deleted and replaced with “2022.”

 

(c) Exhibit
A, Section 5 of the Loan Agreement is hereby amended by deleting the phrase “Two Million Three Hundred Thousand and No/100 Dollars
($2,000,000.00)” and replacing with “Three Million Three Hundred Thousand and No/100 Dollars ($3,300,000.00).”

 

8. Additional
Modifications. All references to the Note in any of the Loan Documents shall hereinafter hereby refer to the Renewal Note, as the
same may be amended, extended and modified from time to time. All references to the Loan Agreement in any of the Loan Documents shall
hereinafter hereby refer to the Loan Agreement, as amended by this Agreement, and as the same may be amended, extended and modified from
time to time. All references in any of the Loan Documents to the Loan, the amount constituting the Loan, any defined terms, or to any
of the other Loan Documents shall be deemed, from and after the date hereof, to refer to the Loan, the amount constituting the Loan, defined
terms and to such other Loan Documents, as modified herein, within the Renewal Note, or within the Loan Documents. All references to the
Loan Documents in any of the Loan Documents shall hereinafter hereby refer to the Loan Documents, as amended by this Agreement, and as
the same may be amended, extended and modified from time to time.

 

9. Grant.
If the increase in the Note and Loan pursuant hereto or the Renewal Note is ever deemed or construed not to constitute a debt or obligation
which is included within the scope of the Loan Agreement, the Borrower and Lender hereby agree that, from and after the date hereof, the
lien of the Loan Agreement shall secure the payment of the aggregate amount of the Loan, the Note, the Renewal Note as increased hereby,
and the Land Loan. To effectuate same, Borrower does hereby GRANT, BARGAIN, SELL and CONVEY, under and pursuant to the terms and provisions
of the Loan Agreement, unto Lender and Lender’s successors and assigns, forever, all and singular, the Collateral, TO HAVE AND TO HOLD
the Collateral, forever, upon and subject to each and every term and provision contained in the Loan Agreement, all of which are incorporated
herein by reference to secure the repayment of the Note, as herein increased and modified, the Renewal Note, the performance by the Borrower
and other parties of the terms, covenants and provisions of the Loan Documents, as hereby modified, and the Land Loan.

  

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10. Acknowledgment
by Borrower. Except as otherwise specified herein, the terms and provisions hereof shall in no manner impair, limit, restrict or otherwise
affect the obligations of Borrower or any third party to Lender, as evidenced by the Loan Documents. Borrower hereby acknowledges, agrees
and represents that (a) Borrower is indebted to Lender pursuant to the terms of the Note as amended and restated pursuant to the Renewal
Note; (b) the liens, security interests and assignments created and evidenced by the Loan Documents are, respectively, valid and subsisting
liens, security interests and assignments of the respective dignity and priority recited in the Loan Documents; (c) there are no claims
or offsets against, or defenses or counterclaims to, the terms or provisions of the Loan Documents, and the other obligations created
or evidenced by the Loan Documents; (d) Borrower has no claims, offsets, defenses or counterclaims arising from any of Lender’s acts or
omissions with respect to the Collateral, the Loan Documents or Lender’s performance under the Loan Documents or with respect to the Collateral;
(e) the representations and warranties contained in the Loan Documents are true and correct representations and warranties of Borrower
in all material respects, as of the date hereof; and (f) Borrower is not in default and no event has occurred which, with the passage
of time, giving of notice, or both, would constitute a default by Borrower of Borrower’s obligations under the terms and provisions of
the Loan Documents. To the extent Borrower has, any claims, offsets, defenses or counterclaims against Lender or the repayment of all
or a portion of the Loan, whether known or unknown, fixed or contingent, same are hereby forever irrevocably waived and released in their
entirety.

 

11. Release.
Borrower and each Guarantor, individually and collectively, hereby release, acquit, waive, and forever discharge Lender, and each and
every past and present subsidiary, affiliate, stockholder, officer, director, agent, servant, employee, representative, and attorney of
Lender, from any and all claims, causes of action, suits, debts, liens, obligations, liabilities, demands, losses, costs and expenses
(including attorneys’ fees) of any kind, character, or nature whatsoever, known or unknown, fixed or contingent, which Borrower or any
Guarantor may have or claim to have now or which may hereafter arise out of or connected with any act of commission or omission of Lender
existing or occurring prior to the date of this Agreement or any instrument executed prior to the date of this Agreement including, without
limitation, any claims, liabilities or obligations arising with respect to the indebtedness evidenced by the Note. Borrower and each Guarantor,
individually and collectively, waive any claim contesting the existence and the adequacy of the consideration given with respect to this
Agreement.

 

12. Miscellaneous
Provisions.

 

(a) No
Waiver of Remedies. Except as may be expressly set forth herein, nothing contained in this Agreement shall prejudice, act as, or be
deemed to be a waiver of any right or remedy available to Lender by reason of the occurrence or existence of any fact, circumstance or
event constituting a default under the Note, the Renewal Note, or the other Loan Documents.

 

(b) Notices.
Notices or other communications required or permitted under this Agreement or the Loan Documents shall be provided in accordance with
the requirements therefor as set forth in the Loan Documents.

 

(c) Costs
and Expenses. Contemporaneously with the execution and delivery hereof, Borrower shall pay, or cause to be paid, all costs and expenses
incident to the preparation, execution and recordation hereof and the consummation of the transaction contemplated hereby, including,
but not limited to, search fees, recording fees, and reasonable fees and expenses of legal counsel to Lender.

 

(d) Additional
Documentation. From time to time, Borrower shall execute or procure and deliver to Lender such other and further documents and instruments
evidencing, securing or pertaining to the Loan or the Loan Documents as shall be reasonably requested by Lender so as to evidence or effect
the terms and provisions hereof.

 

(e) Effectiveness of the
Loan Documents. Except as expressly modified by the terms and provisions hereof, each of the terms and provisions of the Loan Documents
are hereby ratified and shall remain in full force and effect.

 

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(f) Governing
Law; Jurisdiction. This Agreement shall be governed by and construed in accordance with the laws of the State of Tennessee without
regard to provisions regarding conflicts of law, except as otherwise expressly stated herein. Borrower hereby submits to the jurisdiction
and venue of any United States Federal or Tennessee State court sitting in Knoxville, Tennessee, and agrees that all claims in respect
of any such suit, action or proceeding shall be heard and determined in such courts.

 

(g) Waiver
of Jury Trial. LENDER, BORROWER, AND EACH GUARANTOR HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE ANY RIGHTS THEY MAY HAVE
TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED HEREON, OR ARISING OUT OF, UNDER, OR IN CONNECTION WITH, THIS AGREEMENT, THE LOAN
DOCUMENTS, OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS (ORAL OR WRITTEN), OR ACTIONS OF LENDER OR BORROWER. THIS PROVISION
IS A MATERIAL INDUCEMENT FOR LENDER ENTERING INTO THIS AGREEMENT.

 

(h) Time.
Time is of the essence in the performance of the covenants contained herein and in the Loan Documents.

 

(i) Binding
Agreement. This Agreement shall be binding upon the heirs, executors, administrators, personal representatives, successors and assigns
of the parties hereto.

 

(j) Headings.
The section headings hereof are inserted for convenience of reference only and shall in no way alter, amend, define or be used in the
construction or interpretation of the text of such section.

 

(k) Construction.
Whenever the context hereof so requires, reference to the singular shall include the plural and likewise, the plural shall include the
singular; words denoting gender shall be construed to mean the masculine, feminine or neuter, as appropriate; and specific enumeration
shall not exclude the general, but shall be construed as cumulative of the general recitation. Capitalized terms not otherwise defined
herein shall have such meaning as set forth in the Loan Agreement.

 

(l) Severability.
If any clause or provision of this Agreement is or should ever be held to be illegal, invalid or unenforceable under any present or future
law applicable to the terms hereof, then and in that event, it is the intention of the parties hereto that the remainder of this Agreement
shall not be affected thereby, and that in lieu of each such clause or provision of this Agreement that is illegal, invalid or unenforceable,
such clause or provision shall be judicially construed and interpreted to be as similar in substance and content to such illegal, invalid
or unenforceable clause or provision, as the context thereof would reasonably suggest, so as to thereafter be legal, valid and enforceable.

 

(m) Counterparts.
To facilitate execution, this Agreement may be executed in as many counterparts as may be convenient or required. It shall not be necessary
that the signature and acknowledgment of, or on behalf of, each party, or that the signature and acknowledgment of all persons required
to bind any party, appear on each counterpart. All counterparts shall collectively constitute a single instrument. It shall not be necessary
in making proof of this Agreement to produce or account for more than a single counterpart containing the respective signatures and acknowledgment
of, or on behalf of, each of the parties hereto. Any signature and acknowledgment page to any counterpart may be detached from such counterpart
without impairing the legal effect of the signatures and acknowledgments thereon and thereafter attached to another counterpart identical
thereto except having attached to it additional signature and acknowledgment pages.

 

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(n) Electronic
Transmission. The parties agree that if a copy this Agreement executed by one or more of the parties (an “Executed Copy”)
is sent by electronic transmission, (i) the Executed Copy shall be treated in all respects as a paper original of this Agreement executed
by the same parties whose signatures appear on the Executed Copy and (ii) the Executed Copy shall have the same binding and legal effect
as a paper original of this Agreement executed by the same parties whose signatures appear on the Executed Copy. At the request of any
party who receives an Executed Copy, this Agreement shall be re-executed by the parties who signed the Executed Copy and the executed
paper original Agreement shall be sent to the requesting party by any method permitted herein other than by electronic transmission. Each
of the parties further agree that it will not raise the transmission of this Agreement or the Executed Copy by electronic transmission
as a defense in any proceeding or action in which the validity of this Agreement is at issue and hereby forever waives such defense. “Electronic
transmission” means any form of communication, such as facsimile or email, not directly involving the physical transmission of
actual paper, which creates a record of the actual paper that may be retained, retrieved, reviewed and printed by the recipient.

 

(o) Notice
of Final Agreement. THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS EMBODY THE FINAL, ENTIRE AGREEMENT AMONG THE PARTIES HERETO AND THERETO
AND SUPERSEDE ANY AND ALL PRIOR COMMITMENTS, AGREEMENTS, REPRESENTATIONS, AND UNDERSTANDINGS, WHETHER WRITTEN OR ORAL, RELATING TO THE
SUBJECT MATTER HEREOF AND THEREOF AND MAY NOT BE CONTRADICTED OR VARIED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS
OR DISCUSSIONS OF THE PARTIES HERETO OR THERETO. THERE ARE NO ORAL AGREEMENTS AMONG THE PARTIES HERETO OR THERETO. THE PROVISIONS OF THIS
AGREEMENT AND THE OTHER LOAN DOCUMENTS MAY BE AMENDED OR WAIVED ONLY BY AN INSTRUMENT IN WRITING SIGNED BY THE RESPECTIVE PARTIES TO SUCH
DOCUMENTS.

 

[Signature page follows]

 

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This Modification Agreement is executed effective
as of the date first above written.

 

		LENDER:
	 	 	 
		FIRSTBANK
	 	 	 
	 	By:	/s/ Owen B. Ray II
	 	 	Owen B. Ray II, MH Relationship Manager, VP

 

    Modification Agreement - Page 7 of 9 

     

    

 

 

	 	BORROWER:
	 	 	 
	 	GVEST SPRINGLAKE HOMES LLC
	 	 
	 	By: 	/s/ Raymond M. Gee
	 	 	Raymond M. Gee, Manager
	 	 	 
	STATE OF North Carolina)	 	 
	
    COUNTY OF Mecklenburg) 
	 	 

 

Before me, the undersigned,
a Notary Public of said County and State, personally appeared Raymond M. Gee, with whom I am personally acquainted (or proved to
me on the basis of satisfactory evidence), and who, upon oath, acknowledged himself to be the Manager of GVEST SPRINGLAKE HOMES LLC,
a Delaware limited liability company, the within named bargainor, and that he in such capacity, being authorized so to do, executed the
foregoing instrument for the purposes therein contained, by signing the name of the bargainor in such capacity.

 

WITNESS my hand and seal as of March 21, 2022.

 

	 	/s/ Janalyn M. Bailey
	 	Notary Public
	 	 
	My Commission Expires: 03/25/2024	 

 

    Modification Agreement - Page 8 of 9 

     

    

 

	 	GUARANTORS:
	 	 
	 	/s/ Raymond M. Gee
	 	RAYMOND M. GEE
	 	 
	STATE OF North Carolina_	 
	COUNTY OF Mecklenburg	 

 

Personally appeared before
me, the undersigned Notary of said State and County, RAYMOND M. GEE, the within named bargainor, with whom I am personally acquainted
(or proved to me on the basis of satisfactory evidence), and who, upon oath, swore to and acknowledged that he executed the within instrument
for the purposes therein contained.

 

WITNESS my hand and seal as of March 21, 2022.

 

	 	/s/ Janalyn M. Bailey
	 	Notary Public
	 	 
	My Commission Expires: 03/25/2024	 

 

	 	GVEST FINANCE LLC
	 	 	 
	 	By:	/s/ Raymond M. Gee
	 	 	Raymond M. Gee, Manager
	 	 	 
	STATE OF North Carolina)		 
	COUNTY OF Mecklenburg)		 

 

Before me, the undersigned,
a Notary Public of said County and State, personally appeared Raymond M. Gee, with whom I am personally acquainted (or proved to
me on the basis of satisfactory evidence), and who, upon oath, acknowledged himself to be the Manager of GVEST FINANCE LLC, a North
Carolina limited liability company, the within named Grantor, and that he in such capacity, being authorized so to do, executed the foregoing
instrument for the purposes therein contained, by signing the name of the Grantor in such capacity.

 

WITNESS my hand and seal as of March 21, 2022.

 

	 	/s/ Janalyn M. Bailey
	 	Notary Public
	 	 
	My Commission Expires: 03/25/2024	 

 

 

Modification Agreement -
Page 9 of 9Exhibit 10.18

 

AMENDED AND RESTATED PROMISSORY NOTE

 

 

	$3,300,000.00	 	March 29, 2022

 

 

PROMISE TO PAY: GVEST SPRINGLAKE HOMES LLC,
a Delaware limited liability company (“Borrower”), promises to pay to FIRSTBANK, a Tennessee banking corporation
(“Lender”), at 520 W. Summit Hill Dr., Suite 801, Knoxville, Tennessee 37902 the aggregate outstanding balance of all
advances (each an “Advance” and collectively, the “Advances”) under this Amended and Restated Promissory
Note (the “Note”) which Advances shall not, unless otherwise agreed by the Lender, exceed the principal sum of Three
Million Three Hundred Thousand and No/100 Dollars ($3,300,000.00) (the “Maximum Amount”), together with all accrued but
unpaid interest thereon from time to time outstanding until fully paid, computed and payable in the manner set forth below.

 

The Borrower’s right and ability to obtain an
Advance shall at all times be subject to the requirements and conditions set forth in that certain Loan and Security Agreement of even
date herewith by and between Borrower, Guarantors, and Lender (the “Loan Agreement”), the terms of which are incorporated
herein by this reference. All capitalized terms used herein shall have the same meanings assigned in the Loan Agreement unless otherwise
defined herein. This Note constitutes a revolving credit facility on which the Borrower may make payments of outstanding principal from
time to time and the Borrower may borrow and re-borrow loan proceeds from time to time prior to the Commitment Termination Date (as defined
in the Loan Agreement) or any extension thereof as provided herein. The Borrower shall have no right to obtain an Advance and the Lender
shall have no obligation to fund any request for an Advance hereunder upon the occurrence of an Event of Default, which has not been cured
to the satisfaction of the Lender, in the Lender’s reasonable determination.

 

INTEREST RATE: Interest will accrue on
the outstanding principal balance of this Note at a variable rate (the “Interest Rate”) equal to Wall Street Journal
Prime plus one percent (1.00%) per annum adjusted on the first day of each calendar quarter (each a “Change Date”);
provided, however, that the Interest Rate shall never be less than six and three-quarters percent (6.75%) per annum, nor shall the Interest
Rate exceed the maximum amount permitted by applicable law. Interest shall be calculated on the basis of a 360-day year and the actual
number of calendar days elapsed.

 

“Wall Street Journal Prime” means
the per annum rate of interest identified as the “Prime Rate” as published each day in The Wall Street Journal. If The Wall
Street Journal ceases to be published or if it ceases to publish a Prime Rate, then Lender will choose a substitute prime rate. If the
Wall Street Journal Prime is published as a range of rates, the highest rate will be considered the Wall Street Journal Prime for the
purposes of this Note. On such days that The Wall Street Journal is not published (such as holidays and weekends), the Wall Street Journal
Prime shall be the Wall Street Journal Prime stated in the most recently published edition of The Wall Street Journal.

 

DUE DATE: Each payment due hereunder shall
be due on the tenth (10th) day of each month (each a “Due Date”) during the term of this Note.

 

    1

     

    

 

PAYMENT:

 

		(a)	Beginning on April 10, 2022, and continuing on each Due Date thereafter until the Commitment Termination
Date, Borrower shall pay to Lender interest on the unpaid principal balance of this Note at the Interest Rate.
	 	 	 

		(b)	On each Due Date during the months of February, May, August, and November, Borrower shall pay Lender a
quarterly principal payment (each a “Quarterly Payment”) equal to the sum determined under subsection (b)(i) below, if
any.
	 	 	 

		(i)	the aggregate amount of principal that would be due and payable on each Advance allocated to each Home
during the immediately preceding Calendar Quarter, as shown on Lender’s records, had:
	 	 	 

		1.	each Advance allocated to each New Home been amortized over one hundred eighty (180) consecutive monthly
installments of principal and interest, at the then-current Interest Rate, and payable in consecutive monthly installments of principal
and interest;
	 	 	 

		2.	each Advance allocated to each Used Home greater than one year old but less than fifteen years old, as
shown on Lender’s records, been amortized over one hundred forty-four (144) consecutive monthly installments of principal and interest,
at the then-current Interest Rate, and payable in consecutive monthly installments of principal and interest;
	 	 	 

		3.	each Advance allocated to each Used Home greater than fourteen years old and but less than twenty years
old, as shown on Lender’s records, been amortized over ninety-six (96) consecutive monthly installments of principal and interest, at
the then-current Interest Rate, and payable in consecutive monthly installments of principal and interest;
	 	 	 

		4.	each Advance allocated to each Used Home greater than twenty years old and but less than forty years old,
as shown on Lender’s records, been amortized over sixty (60) consecutive monthly installments of principal and interest, at the then-current
Interest Rate, and payable in consecutive monthly installments of principal and interest; and
	 	 	 

		5.	each Advance allocated to each Home owned by Borrower as of the date hereof that is financed by Lender,
as shown on Lender’s records, been amortized over one hundred eighty (180) consecutive monthly installments of principal and interest,
beginning on that date that is six (6) months after the Advance allocated to each such Home was made at the then-current Interest Rate,
and payable in consecutive monthly installments of principal and interest.
	 	 	 

		(ii)	after giving credit to any payments made pursuant to subjection (b)(i) immediately above, the amount,
if any, by which the MH Contract Note Balance (as defined herein) exceeds the MH Contract Balance (as defined herein) as determined by
Lender as of the last day of the immediately preceding Calendar Quarter.
	 	 	 

		(c)	With respect to the mandatory prepayments of Section 2.6(a) of the Loan Agreement, Borrower shall immediately
pay to Lender a principal payment (plus all accrued interest, fees, costs and expenses) in an amount equal to any excess over the Maximum
Amount. With respect to the mandatory prepayments of Sections 2.6(b) & 2.6(c) of the Loan Agreement, Borrower shall immediately pay
to Lender a principal payment (plus all accrued interest, fees, costs and expenses) equal to that portion of the unpaid balance of this
Note allocated to the applicable Home as shown on Lender’s records.

 

    2

     

    

 

		(d)	On the Commitment Termination Date, this Note shall mature and Borrower shall pay to Lender an amount
equal to all accrued interest, plus all outstanding principal, costs, fees and expenses as shown on Lender’s records.
	 	 	 

		(e)	Capitalized terms used herein shall have the meanings ascribed below:
	 	 	 

		(i)	“Calendar Quarter” shall mean one of the following three (3)-month periods of a calendar
year: January 1st – March 31st; April 1 – June 30th; July 1 – September 30th;
and October 1- December 31st.
	 	 	 

		(ii)	“MH Contract Note Balance” means the aggregate amount of principal outstanding under
this Note on each Advance allocated to each Home sold by Borrower pursuant to an MH Contract, as shown on Lender’s records.
	 	 	 

		(iii)	“MH Contract Balance” means the aggregate amount of the Individual MH Contract Balances
for each MH Contract secured by a Home that is the subject of an Advance, as shown on Lender’s records.
	 	 	 

		(iv)	“Individual MH Contract Balances” means, for each MH Contract, the amount of principal
outstanding with respect to such MH Contract as of such date of determination.
	 	 	 

PREPAYMENT: Borrower may pay the amount
owed earlier than it is due subject to the payment of the exit fees set out in the Loan Agreement.

 

LATE CHARGE: If a payment is eleven (11)
calendar days or more late, Borrower will be charged five percent (5%) of the regularly scheduled payment in addition to any interest
owing pursuant to this Note. Borrower acknowledges that such payment represents reimbursement to Lender for its administrative costs incurred
in connection with such late payment and that such payment is not to be construed as a penalty.

 

EVENT OF DEFAULT: Borrower shall be in
default under this Note if an Event of Default (as defined in the Loan Agreement) occurs (subject to the cure rights permitted in the
Loan Agreement), under the Loan Agreement or under any other Loan Document.

 

LENDER’S RIGHTS: Subject to any cure rights
permitted in the Loan Agreement, at any time after any Event of Default has occurred, Lender may, without presentment, demand, protest
or further notice of any kind (all of which are hereby expressly waived) and, notwithstanding the provisions contained in any other document
or instrument executed or to be executed by Borrower to Lender hereunder or contained in any other agreement, take any one or more of
the following actions:

 

		(a)	Declare the entire principal and any accrued interest owing hereunder, together with all costs and expenses,
to be immediately due and payable, and to enforce payment thereof by any means permitted by law or in equity;

 

		(b)	Without accelerating payment, enforce the payment of sums of principal and interest then due (including
any default interest or late payment charges); and

 

		(c)	Exercise any other remedy or right provided in law or in equity or permitted under this Note, the Loan
Agreement or any document securing this Note.

 

Upon the occurrence of an Event of Default, Lender,
at its option, may also, if permitted under applicable law, increase the interest rate on this Note to the maximum rate permitted by applicable
law (the “Default Rate”). Any and all remedies conferred upon Lender shall be deemed cumulative with, and nonexclusive
of any other remedy conferred hereby or by law, and Lender in the exercise of any one remedy shall not be precluded from the exercise
of any other. If this Note is placed in the hands of an attorney, for collection, by suit or otherwise, or to enforce its collection,
or to protect the security for its payment, the Borrower will pay all costs of collection and litigation, together with a reasonable attorney’s
fee.

 

    3

     

    

 

This Note shall be governed by and construed in
accordance with the laws of Tennessee. This Note has been delivered to Lender and accepted by Lender in the State of Tennessee. If there
is a lawsuit, Borrower agrees upon Lender’s request to submit to the jurisdiction and venue of all State or Federal courts within the
County of Knox, State of Tennessee. Borrower hereby waives any personal service of any and all process and agrees that all the service
of process may be made upon Borrower by certified or registered mail, return receipt requested, addressed to Borrower, at the address
set forth in the Loan Agreement and service so made shall be complete ten (10) days after the same has been posted. LENDER AND BORROWER
HEREBY WAIVE THE RIGHT TO ANY JURY TRIAL IN ANY ACTION, PROCEEDING, OR COUNTERCLAIM BROUGHT BY EITHER LENDER OR BORROWER AGAINST THE OTHER.

 

COLLATERAL: In order to secure payment
of this Note, Borrower and the members of Borrower have granted Lender a lien and security interest in the real and personal property
described in the Loan Agreement and in the other Loan Documents. Reference is made to these instruments for various rights and remedies
of the parties thereto.

 

NOTICES: All notices or elections required
or permitted under this Note will be in writing and will be transmitted in the manner and to the addresses set forth in the Loan Agreement.

 

MISCELLANEOUS: Lender may delay or forego
enforcing any of its rights or remedies under this Note or under the other Loan Documents without waiving such rights and remedies. Borrower
understands and agrees that, with or without any notice to anyone other than Borrower, Lender may: (a) make one or more additional secured
or unsecured loans or otherwise extend additional credit; (b) alter, compromise, renew, extend, accelerate, or otherwise change one or
more times the time for payment or other terms any indebtedness, including increases or decreases of the rate of interest on the indebtedness;
(c) exchange, enforce, waive, subordinate, and release any security, with or without the substitution of new collateral; or (d) apply
such security and direct the order or manner of sale thereof, including without limitation, any nonjudicial sale permitted by the terms
of the controlling security agreements, as Lender in its discretion may determine. Borrower, to the extent allowed by law, waives presentment,
demand for payment, protest and notice of dishonor. Upon any change in the terms of this Note, and unless otherwise expressly stated in
writing, no party who signs this Note, whether as maker, guarantor, accommodation maker or endorser, shall be released from liability.
All such parties agree that Lender may renew or extend (repeatedly and for any length of time) this loan, or release any party or collateral,
or impair or fail to realize upon Lender’s security interest in the collateral; and take any other action deemed necessary by Lender without
the consent of or notice to anyone. All such parties also agree that Lender may modify this Note without the consent of or notice to anyone
other than Borrower.

 

ELECTRONIC TRANSMISSION: If a copy this
Note executed by Borrower (an “Executed Copy”) is sent by electronic transmission, (a) the Executed Copy shall be treated
in all respects as a paper original of this Note executed by the same parties whose signatures appear on the Executed Copy and (b) the
Executed Copy shall have the same binding and legal effect as a paper original of this Note executed by Borrower. At the request of Lender,
this Note shall be re-executed by Borrower and the executed paper original Note shall be sent to Lender by any method other than by electronic
transmission. Borrower agrees that it will not raise the transmission of this Note or the Executed Copy by electronic transmission as
a defense in any proceeding or action in which the validity of this Note is at issue and hereby forever waives such defense. “Electronic
transmission” means any form of communication, such as facsimile or email, not directly involving the physical transmission of
actual paper, which creates a record of the actual paper that may be retained, retrieved, reviewed and printed by the recipient.

 

NO NOVATION: This Note amends and restates
that certain Promissory Note made by Borrower, dated November 12, 2021, payable to the order of Lender in the original principal amount
of $2,000,000.00, (collectively, the “Prior Note”). This Note is not intended to, and will not, effect a novation, extinguishment,
or substitution of the Prior Note. This Note shall be entitled to the same benefit (and priority) of the Loan Documents, and the lien
of the Loan Documents is not intended to be released, altered or changed in any manner except as specifically stated herein or in the
documents executed by Borrower and Lender in connection with this Note.

 

BORROWER RECOGNIZES AND AGREES THAT THE PROCEEDS
OF THE LOAN WILL BE USED SOLELY FOR THE COMMERCIAL PURPOSES. PRIOR TO SIGNING THIS NOTE, BORROWER HAS READ AND UNDERSTANDS ALL OF THE
PROVISIONS OF THIS NOTE. BORROWER AGREES TO THE TERMS OF THE NOTE AND ACKNOWLEDGES RECEIPT OF A COMPLETED COPY OF THIS NOTE.

 

[Signature page follows]

 

    4

     

    

 

This Amended and Restated
Promissory Note is executed as of the day and year first written above:

 

	 	BORROWER:
	 	 	 
	 	GVEST SPRINGLAKE HOMES LLC
	 	 	 
	 	By:	/s/ Raymond M. Gee
	 	 	Raymond M. Gee, Manager

 

	STATE OF North Carolina)	
	COUNTY OF Mecklenburg)	

 

Before me, the undersigned,
a Notary Public of said County and State, personally appeared Raymond M. Gee, with whom I am personally acquainted (or proved to
me on the basis of satisfactory evidence), and who, upon oath, acknowledged himself to be the Manager of GVEST SPRINGLAKE HOMES LLC,
a Delaware limited liability company, the within named bargainor, and that he in such capacity, being authorized so to do, executed the
foregoing instrument for the purposes therein contained, by signing the name of the bargainor in such capacity.

 

	WITNESS my hand and seal as of March 21, 2022.	 
	 	 
	 	/s/ Janalyn M. Bailey
	 	Notary Public
	 	 
	My Commission Expires:  03/25/2024	 

 

 

5

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