Document:

Exhibit 10.59

  

DST PURCHASE AND SALE AGREEMENT

 

Lippincott Delaware Statutory Trust
(17% Ownership)

 

DATED AS OF May 29, 2018,

 

by and among

 

FIRST CAPITAL REAL ESTATE OPERATING
PARTNERSHIP, L. P.

 

a Delaware Limited Partnership

 

and

 

GADSDEN GROWTH PROPERTIES, INC.,

 

a Maryland corporation

 

    	 

     

    

 

TABLE OF CONTENTS

 

	 	 	 	Page
	 	 	 	 
	I.	THE SALE	2
	 	 	 	 
	 	Section 1.01	Sale of the Subject DST (17% OWNERSHIP)	2
	 	 	 	 
	 	Section 1.02	Consideration by the REIT	3
	 	 	 	 
	 	Section 1.03	Charter Documents	3
	 	 	 	 
	 	Section 1.04	Directors and Officers	3
	 	 	 	 
	II.	CONDITIONS PRECEDENT	3
	 	 	 	 
	 	Section 2.01	Conditions Precedent	3
	 	 	 	 
	 	Section 2.02	Conditions in Favor of the REIT	4
	 	 	 	 
	 	Section 2.03	Conditions in Favor of the Seller	4
	 	 	 	 
	III.	CLOSING	4
	 	 	 	 
	 	Section 3.01	Closing	4
	 	 	 	 
	 	Section 3.02	Delivery of Documents	4
	 	 	 	 
	IV.	COVENANTS	5
	 	 	 	 
	 	Section 4.01	Covenants of Seller	5
	 	 	 	 
	 	Section 4.02	Covenants of the REIT	6
	 	 	 	 
	V.	MISCELLANEOUS	6
	 	 	 	 
	 	Section 5.01	Further Actions	6
	 	 	 	 
	 	Section 5.02	Notices	6
	 	 	 	 
	 	Section 5.03	Availability of Equitable Remedies	6
	 	 	 	 
	 	Section 5.04	Modification	6
	 	 	 	 
	 	Section 5.05	Waiver	7
	 	 	 	 
	 	Section 5.06	Binding Effect	7
	 	 	 	 
	 	Section 5.07	No Third-Party Beneficiaries	7
	 	 	 	 
	 	Section 5.08	Headings	7
	 	 	 	 
	 	Section 5.09	Governing Law	7
	 	 	 	 
	 	Section 5.10	WAIVER OF JURY TRIAL	8
	 	 	 	 
	 	Section 5.11	Attorney’s Fees	8
	 	 	 	 
	 	Section 5.12	Execution	8
	 	 	 	 
	 	Section 5.13	Severability	8

 

		Annex A	Defined Terms

		Exhibit I	Mortgages and other Indebtedness Regarding the Subject
DST (17% OWNERSHIP)

 

    	i

     

    

 

OMNIBUS SALE AGREEMENT,
dated as of May 29, 2018 (this “Agreement”), by and among FIRST CAPITAL REAL ESTATE OPERATING PARTNERSHIP,
LP, a Delaware Limited Partnership, and GADSDEN GROWTH PROPERTIES, INC., a Maryland corporation (the “REIT”),
and GADSDEN GROWTH PROPERTIES, LP, a Delaware limited partnership (“OPCO”).

 

WHEREAS, the REIT desires
to acquire the direct or indirect interests in certain real property and related assets and interests, including the Subject Delaware
Statutory Trust 17% OWNERSHIP described below;

 

WHEREAS, the REIT intends
to file a registration statement on Form S-4 (the “Registration Statement”) under the Securities Act of 1933,
as amended (the “Securities Act”), with the Securities and Exchange Commission (the “SEC”) and list
its shares on the OTC Markets such as the OTCQB market so that its shares of common stock, par value $0.01 (“Common Stock”)
are eligible for listing and listed and traded on such market;

 

WHEREAS, the Seller
intends to distribute the shares of Common Stock that it will receive in connection with the transfer and conveyance of the Subject
DST (17% OWNERSHIP)

 

WHEREAS, Seller desires
to convey and transfer the Subject DST 17% OWNERSHIP;

 

Subject DST (17%
OWNERSHIP)

 

WHEREAS the DST (17%
OWNERSHIP) related assets and interests (collectively, the “Subject DST (17% OWNERSHIP”) consists of the following:

 

		●	17% of the Lippincott Delaware Statutory Trust, which title is good and marketable,
and free and clear of encumbrances except only non-monetary matters of record The entity interest that is being transferred and
assign is called the “Sold Entity”

 

		●	Each subsidiary is called a “Sold Entity Subsidiary”

 

DST (17%
OWNERSHIP) DST (17% OWNERSHIP)100% of the accrued and unpaid interest and/or dividends owed to the Seller

 

The right to
enforce the contractual provisions of and to receive 100% of the accrued and unpaid interest and/or dividends owed to the Seller
but withheld by the manager and/or the trustee of the DST

 

Consideration
to by paid by REIT

 

WHEREAS, the consideration
for the purchase of the Subject DST (17% OWNERSHIP) is the number of shares described in Section 1.02(b) (the “Transaction
Shares”);

 

    	 

     

    

 

Ownership of
the Lippincott DST

 

WHEREAS, the DST (17%
OWNERSHIP) is currently, wholly owned by Seller, directly or indirectly.

 

Ownership of
Seller

 

WHEREAS, the Seller
is wholly owned, directly or indirectly, by First Capital Real Estate Trust, a Maryland corporation (the “Seller Owner”);

 

Capitalized Terms

 

WHEREAS, certain capitalized
terms that are used in this Agreement shall have the respective meanings ascribed thereto as set forth in Annex A.

 

		I.	THE SALE

 

Section
1.01         Sale of the Subject DST (17% OWNERSHIP)

 

(a)          On
the Closing Date, the Seller, convey, transfer and assign (the “Sale”) all rights in, to and under the Subject
DST (17% OWNERSHIP to Gadsden Realty Investments, in exchange for the Transaction Shares. All of the rights in, to and under shall
include, but not be limited to 100% of the accrued and unpaid interest and/or dividends owed to the Seller, the right to enforce
the contractual provisions of and to receive 100% of the accrued and unpaid interest and/or dividends owed to the Seller but withheld
by the manager and/or the trustee of the DST.

 

(b)          The
sale, conveyance, transfer and assignment of the Subject DST (17% OWNERSHIP))shall be subject to the obligations and liabilities
of the Subject DST (17% OWNERSHIP) as reasonably determined by the REIT, and in accordance with one or more definitive documents
and instruments that are required to fully effect the Sale as may be reasonably required by the REIT, including the deed or other
transfer of marketable title to the Subject DST (17% OWNERSHIP) free and clear of all liens other than the Seller Mortgage and
other customary liens (collectively, the “Definitive Documents”), in each case, as reasonably determined by
the REIT. The Definitive Documents will include the loan pay off letter or similar document from the lender of the Seller Mortgage
showing a payment to discharge Seller Mortgage of not more than Maximum Seller Mortgage Amount, which loan will be repaid by the
REIT or its subsidiary at the closing of the Sale of the Subject DST (17% OWNERSHIP). It is acknowledged and agreed that any principal
balance in excess of such amount shall be paid by Seller or, reduce ‘first, the Cash Consideration (but not, after considerations
all adjustments to the Cash Consideration, below zero) that would be otherwise be payable to Seller and then’ the number
of Transaction Shares that are otherwise payable, valued at the estimated initial trading price of the Common Stock on the first
trading day of such shares following the effective date of the Registration Statement (“Effective Date Trading Price”).
Further, any accrued and unpaid interest on the Seller Mortgage will be included as a proration and such amount shall be paid by
Seller or, reduce [first the Cash Consideration (but not, after considerations all adjustments to the Cash Consideration, below
zero) and then the number of Transaction Shares, valued at the Effective Date Trading Price] the that would be otherwise be payable
to Seller.

 

    	2

     

    

 

Section
1.02         Consideration by the REIT.

 

(a)          In
consideration for the contributions or other conveyance, transfer and assignments, the REIT shall issue and deliver the following:

 

(i)          The
Transaction Shares.

 

(b)          Computation
of the Number of Transaction Shares. For the purposes of this Agreement, the number of Transaction Shares that are issued with
respect to the Subject DST (17% OWNERSHIP) shall be the number of shares of Common Stock based on the Effective Date Trading Price
that in the aggregate that, subject to any adjustments as provided in this Agreement, are substantially equal to:

 

(i)          The
sum of the following: $615,000 gross purchase price in Series B convertible stock.

 

(A)         the
applicable net fair value of the Subject DST (17% OWNERSHIP) as of the Closing Date as reasonably determined by the REIT based
on the valuation of the Subject DST (17% OWNERSHIP) set forth on Exhibit I as of the date of this Agreement, subject to pro rations
(which will reduce the number of Transaction Shares, based on the Effective Date Trading Price).

 

Section
1.03         Charter Documents. INTENTIONALLY DELETED.

 

Section
1.04         Directors and Officers. The directors and officers
of the REIT and its subsidiaries as of the Effective Date shall be such individuals as designated by the REIT.

 

		II.	CONDITIONS PRECEDENT

 

Section
2.01         Conditions Precedent. The respective obligations
of each party to effect the transactions described in ARTICLE I and the other transactions contemplated by this Agreement shall
be subject to the satisfaction at or prior to the Closing Date of the following conditions, any or all of which may be waived,
in whole or in part by the mutual consent of Seller and the REIT:

 

(a)          The
parties have received all consents necessary to effectuate the transactions contemplated by this Agreement, including without limitation:

 

(i)          The
consent of the Seller Owner to take such actions to consummate the transactions contemplated by Article I, including any consents
required under the applicable trust agreement; and

 

(ii)         The
consent of the REIT for it, and OPCO and its subsidiaries, to take such actions to consummate the transactions contemplated by
Article I.

 

    	3

     

    

 

Section
2.02         Conditions in Favor of the REIT. The respective
obligations of the REIT to effect the transactions described in ARTICLE I and the other transactions contemplated by this Agreement
shall be subject to the satisfaction at or prior to the Closing Date of the following conditions, any or all of which may be waived,
in whole or in part by the REIT:

 

(a)          
The Underlying DST (17% OWNERSHIP), and each indirect interest therein to be acquired as part of the Subject DST (17% OWNERSHIP),
shall not be subject to any liens or encumbrances or restrictions other than the Seller Mortgage and customary title encumbrances
that do not materially decrease the estimated fair value of the Underlying DST (17% OWNERSHIP) as of the date of this Agreement;

 

(b)          The
amount of the liabilities and obligations assumed with respect to the Subject DST (17% OWNERSHIP), including entity level payables,
liabilities, or assumed obligations, shall be acceptable to the REIT;

 

(c)          There
shall not have been any material adverse change with respect to the Underlying DST (17% OWNERSHIP), or any events that are expected
to materially change the operating expenses of the Underlying DST (17% OWNERSHIP), it being acknowledged that any change that would
change the value or the annual operating expenses by 3% or more shall be deemed to be material for the purposes of this Agreement.

 

Section
2.03         Conditions in Favor of the Seller. The respective
obligations of the Seller to effect the transactions described in ARTICLE I and the other transactions contemplated by this Agreement
shall be subject to the satisfaction at or prior to the Closing Date of the following conditions, any or all of which may be waived,
in whole or in part by the Seller:

 

(a)          The
REIT shall have issued the Transaction Shares.

 

		III.	CLOSING

 

Section
3.01         Closing. The closing of the transactions described
in Section 1.01 and the issuance of the Transaction Shares effective on the Closing Date described in Section 1.02 (the “Closing”)
shall take place on the Effective Date, it being acknowledged that the closing shall be scheduled on the settlement date of the
offering of Common Stock described in the Registration Statement, after the satisfaction or waiver of the conditions (excluding
conditions that, by their nature, cannot be satisfied until after the Closing, but subject to the satisfaction or waiver of those
conditions as of the Closing) set forth in Article II, unless this Agreement has been theretofore terminated pursuant to
its terms or unless another time or date is agreed to in writing by the parties hereto (the date and time of the Closing being
referred to in this Agreement as the “Closing Date”). The Closing shall be held at the offices of Herrick, Feinstein
LLP, 2 Park Avenue, New York, NY 10016, unless another place is agreed to in writing by the parties hereto. For the avoidance of
doubt, there is no obligation that any representative of Seller or the Seller Owner be physically present at the Closing and, rather,
such parties, through their authorized representatives, may participate in the Closing remotely.

 

Section
3.02         Delivery of Documents. As soon as practicable
on the Closing Date, the parties hereto shall cause the transactions described in Article Ito be consummated by the execution of
each of the Definitive Documents.

 

    	4

     

    

 

		IV.	COVENANTS

 

Section
4.01        Covenants of Seller. Seller agrees that, unless
the REIT agrees in writing or otherwise stated in this Agreement:

 

(a)           Until
the earlier of the Closing Date and the abandonment or termination of this Agreement pursuant to Article — or otherwise (the
“Release Time”), no amendment will be made in the charter documents of Seller or Seller Owner.

 

(b)          Until
the Release Time, no equity interest or any other security or contractual commitment to issue any security of any of Seller, shall
be issued or sold by Seller and there shall not be any transfer or assignment or pledge of any such equity interest in Seller.

 

(c)          Unless
the REIT otherwise consents (which consent shall not be unreasonably withheld, delayed or conditioned with respect to the Cash
Reserve Requirement), until the Release Time, no dividend or liquidating or other distribution shall be authorized, declared, paid,
or effected by Seller other than as provided in this Agreement or as done in the ordinary course of business.

 

(d)           Seller
shall use its commercially reasonable efforts to insure that all confidential information which Seller or any of its respective
officers, directors, employees, counsel, agents, investment bankers, or accountants may now possess or may hereafter create or
obtain relating to the financial condition, results of operations, businesses, properties, assets, liabilities, or future prospects
of Seller or the Subject DST (17% OWNERSHIP) shall not be published, disclosed, or made accessible by any of them to any other
Person at any time or used by any of them except in the ordinary course of business and for the benefit of Seller; provided, however,
that the restrictions of this sentence shall not apply (A) after the Closing Date or the date that this Agreement is terminated
in accordance with Article — or otherwise, (B) as may otherwise be required by law, (C) as may be necessary or appropriate
in connection with the enforcement of this Agreement, (D) to the extent the information shall have otherwise become publicly available,
or (E) to the extent that it may be necessary or appropriate to share such information with attorneys, accountants and/or other
professional advisors.

 

(e)           Before
Seller releases any information concerning this Agreement, or any of the transactions contemplated by this Agreement which is intended
for, or may result in, public dissemination thereof, Seller shall cooperate with the REIT, shall furnish drafts of all documents
or proposed oral statements to the REIT for comment, and shall not release any such information without the consent of the REIT,
which consent shall not be unreasonably withheld. Nothing contained herein shall prevent Seller from releasing any info information
if required to do so by law.

 

(f)           Seller
shall not make any agreement or reach any understanding not approved by the REIT as a condition for obtaining any consent, authorization,
approval, order, license, certificate, or permit required for the consummation of the transactions contemplated by this Agreement.
Notwithstanding the foregoing, all negotiations for the refinancing of the Seller Mortgage shall be directed by the REIT.

 

    	5

     

    

 

(g)           Seller
shall timely prepare and file any declaration or filing necessary to comply with any transfer tax statutes that require any such
filing before the Closing Date, it being understood that Seller is expected to take direction regarding these matters from REIT
or its counsel.

 

(h)           For
the purposes of this Agreement, the term “Cash Reserve Requirement” shall mean that Seller has sufficient cash
and cash equivalents to pay the prorations and other obligations regarding the Subject DST (17% OWNERSHIP) that have accrued prior
to the Closing Date.

 

Section
4.02         Covenants of the REIT. The REIT agrees that,
unless Seller agrees in writing or otherwise stated in this Agreement, the REIT will use its commercially reasonable efforts to
file the Registration Statement and have the Registration Statement declared effective in accordance with the Securities Act in
a manner that does not cause liability under Section 11 of the Securities Act.

 

	V.	MISCELLANEOUS

 

Section
5.01         Further Actions. At any time and from time to
time, each party agrees to take such actions and to execute and deliver such documents as may be reasonably necessary to effectuate
the purposes of this Agreement.

 

Section
5.02         Notices. Any and all notices or other communications
or deliveries required or permitted to be provided hereunder shall be in writing and shall be deemed given and effective on the
earliest of: (a) the date of transmission, if such notice or communication is delivered via facsimile at the facsimile number set
forth on the signature pages attached hereto at or prior to 5:30 p.m. (New York City time) on a business day, (b) the next business
day after the date of transmission, if such notice or communication is delivered via facsimile at the facsimile number set forth
on the signature pages attached hereto on a day that is not a business day or later than 5:30 p.m. (New York City time) on any
business day, (c) the second (2nd) business day following the date of delivery to a United States internationally recognized
overnight courier service, or (d) upon actual receipt or refusal by the party to whom such notice is required to be given. The
address for such notices and communications shall be as set forth on the signature pages attached hereto. For the purposes herein,
“business day- means a day on which the Federal Reserve Bank of New York is open for regular business.

 

Section
5.03         Availability of Equitable Remedies. Since a
breach of the provisions of this Agreement could not adequately be compensated by money damages, any party shall be entitled, either
before or after the Closing Date, in addition to any other right or remedy available to it, to seek an injunction restraining such
breach or threatened breach and to seek specific performance of any such provision of this Agreement, and, in either case, no bond
or other security shall be required in connection therewith.

 

Section
5.04         Modification. This Agreement sets forth the
entire understanding of the parties with respect to the subject matter hereof and supersedes all existing agreements among them
concerning such subject matter. This Agreement shall only be modified by the written agreement of all parties.

 

    	6

     

    

 

Section
5.05         Waiver. Any waiver by any party of a breach
of any term of this Agreement shall not operate as or be construed to be a waiver of any other breach of that term or of any breach
of any other term of this Agreement. The failure of a party to insist upon strict adherence to any term of this Agreement on one
or more occasions will not be considered a waiver or deprive that party of the right thereafter to insist upon strict adherence
to that term or any other term of this Agreement. Any waiver must be in writing and be authorized by a resolution of the Board
of Directors or by an officer of, or other authorized person with respect to, the waiving party.

 

Section
5.06         Binding Effect. The provisions of this Agreement
shall be binding upon and inure to the benefit of the parties and their respective successors and assigns.

 

Section
5.07         No Third-Party Beneficiaries. Except as otherwise
expressly provided in this Agreement, this Agreement does not create, and shall not be construed as creating, any rights enforceable
by any person not a party to this Agreement.

 

Section
5.08         Headings. The headings in this Agreement are
solely for convenience of reference and shall be given no effect in the construction or interpretation of this Agreement.

 

Section
5.09         Governing Law.

 

(a)          All
questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed by and construed
and enforced in accordance with the internal laws of the State of Delaware. Each party agrees that all legal proceedings concerning
the interpretations, enforcement and defense of the transactions contemplated by this Agreement (whether brought against a party
hereto or its respective affiliates, directors, officers, shareholders, partners, members, employees or agents) shall be, except
to the extent otherwise required by applicable law, commenced exclusively in the state and federal courts sitting in the City of
New York. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in the City
of New York, Borough of Manhattan for the adjudication of any dispute hereunder or in connection herewith or with any transaction
contemplated hereby or discussed herein (including with respect to the enforcement of any provision of this Agreement), and hereby
irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to
the jurisdiction of any such court, that such suit, action or proceeding is improper or is an inconvenient venue for such proceeding.

 

(b)          Each
party hereby irrevocably waives personal service of process and consents to process being served in any such suit, action or proceeding
by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the
address in effect for notices to it under this Agreement and agrees that such service shall constitute good and sufficient service
of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any other
manner permitted by law.

 

(c)          If
one or more parties shall commence an action, suit or proceeding to enforce any provision of this Agreement, the prevailing party
or parties in such action, suit or proceeding shall be reimbursed by the other party or parties to such action, suit or proceeding
for the reasonable attorneys’ fees and other costs and expenses incurred by the prevailing party or parties with the investigation,
preparation and prosecution of such action, suit or proceeding.

 

    	7

     

    

 

Section
5.10         WAIVER OF JURY TRIAL. IN ANY ACTION, SUIT,
OR PROCEEDING IN ANY JURISDICTION BROUGHT BY ANY PARTY AGAINST ANY OTHER PARTY, THE PARTIES EACH KNOWINGLY AND INTENTIONALLY, TO
THE GREATEST EXTENT PERMITTED BY APPLICABLE LAW, HEREBY ABSOLUTELY, UNCONDITIONALLY, IRREVOCABLY AND EXPRESSLY WAIVES FOREVER TRIAL
BY JURY.

 

Section
5.11         Attorney’s Fees. Should any litigation
be commenced between the parties concerning this Agreement, then the party prevailing in the litigation will be entitled, in addition
to any other relief that may be granted, to a reasonable sum of money for attorney’s fees arising during the litigation.
That sum will be determined either: (1) by the court presiding over the litigation; or (2) in a separate action brought for that
purpose.

 

Section
5.12         Execution. This Agreement may be executed in
two or more counterparts, all of which when taken together shall be considered one and the same agreement and shall become effective
when counterparts have been signed by each party and delivered to each other party, it being understood that the parties need not
sign the same counterpart. In the event that any signature is delivered by facsimile transmission or by e-mail delivery of a “.pdf’
format data file, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature
is executed) with the same force and effect as if such facsimile or “.pdf’ signature page was an original thereof.

 

Section
5.13         Severability. If any term, provision, covenant
or restriction of this Agreement is held by a court of competent jurisdiction to be invalid, illegal, void or unenforceable, the
remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full force and effect and shall
in no way be affected, impaired or invalidated, and the parties hereto shall use their commercially reasonable efforts to find
and employ an alternative means to achieve the same or substantially the same result as that contemplated by such term, provision,
covenant or restriction. It is hereby stipulated and declared to be the intention of the parties that they would have executed
the remaining term, provisions, covenants and restrictions without including any of such that may be hereafter declared invalid,
illegal, void or unenforceable.

 

    	8

     

    

 

IN WITNESS WHEREOF,
this Agreement has been executed by duly authorized individuals on behalf of each of the parties hereto as of the date first above
written.

 

SELLER

FIRST CAPITAL REAL ESTATE OPERATING PARTNERSHIP, LP

A Delaware limited Partnership

 

	By:  	/s/ Suneet Singal	 
	 	Name: Suneet Singal	 
	 	Title: CEO First Capital Real Estate Trust Inc.	 

 

GADSEN GROTH PROPERTIES, INC.

A Delaware limited Partnership

 

	By:	/s/ John Hartman	 
	 	Name:  John Hartman	 
	 	Title:  CEO	 

 

    	 

     

    

 

Annex A

 

	Defined Term	 	Section
	“Agreement”	 	Preamble
	“business day”	 	Section 5.02
	“Cash Consideration”	 	Section 1.02(a)
	“Cash Reserve Requirement”	 	Section 4.01(h)
	“Closing Date”	 	Section 3.01
	“Closing”	 	Section 3.01
	“Common Stock”	 	Recitals
	“Definitive Documents”	 	Section 1.01(b)
	“Effective Date Trading Price”	 	Section 1.01(b)
	“Effective Date”	 	—
	“Gadsden Holdings”	 	Recitals
	“Gadsden Realty Investments”	 	Recitals
	“Maximum Seller Mortgage Amount”	 	Recitals
	“OPCO”	 	Preamble
	“Partnership Agreement”	 	—
	“Registration Statement”	 	Recitals
	“REIT”	 	Preamble
	“Release Time”	 	Section 4.01(a)
	“Sale”	 	Section 1.01(a)
	“SEC”	 	Recitals
	“Securities Act”	 	Recitals
	“Seller Mortgage”	 	Section 1.02(b)
	“Seller Owner”	 	Recitals
	“Seller”	 	Preamble
	“Sold Entity Subsidiary”	 	Recitals
	“Sold Entity”	 	Recitals
	“Subject DST (17% OWNERSHIP)”	 	Recitals
	“Transaction Shares”	 	Recitals
	“Underlying DST (17% OWNERSHIP)”	 	RecitalsExhibit 10.60

 

CLAIMS PURCHASE AGREEMENT

 

THIS CLAIMS PURCHASE
AGREEMENT (the “Agreement”), dated as of May 29, 2018, by and between First Capital Real Estate Operating
Partnership, LP, a Limited Partnership organized under the laws of Delaware (the “Seller”), and Gadsden Growth
Properties, INC, a Maryland Corporation (the “Buyer”).

 

RECITALS

 

WHEREAS, the
Seller has incurred losses as a result of the events described on Schedule 1 hereto (the “Events”)
and has a number of claims, choses in action, causes of action, judgments and remedies relating to the Events which it has the
right to pursue against one or more third parties to recoup such losses (collectively, the “Claims”); and

 

WHEREAS, the
Seller wishes to sell to the Buyer, and the Buyer wishes to purchase from the Seller, all of the Seller's right, title and interest
in and to the Claims on the terms and subject to the conditions set forth herein.

 

NOW, THEREFORE,
based upon the foregoing recitals, the mutual promises and agreements contained herein, and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, agree as follows:

 

ARTICLE I.

DEFINED TERMS

 

As used in this Agreement, unless
the context requires a different meaning, the following terms shall have the following meanings:

 

“Adverse Claim” means
any lien, pledge, encumbrance, charge, assignment, privilege or security interest in or on the Claims not in favor of the Buyer.

 

“Business Day” means
any day that is not a Saturday, Sunday or other day on which banks are authorized or required to close in New York, New York.

 

ARTICLE II.

SALE, TRANSFER AND ASSIGNMENT

 

Section
2.1.          Sale, Transfer and Assignment. In consideration
of the Purchase Price and on the terms and subject to the conditions set forth in this Agreement, on the date of this Agreement,
the Seller hereby sells, transfers, assigns, sets over and otherwise conveys to the Buyer, and the Buyer hereby purchases and takes
from the Seller, all right, title and interest (whether now owned or hereafter acquired or arising and wherever located) of the
Seller in, to and under the Claims.

 

    	 

     

    

 

Section
2.2.          Purchase Price.

 

(b)          The
aggregate purchase price for the Claims (the “Purchase Price”) shall be Six hundred Fifteen Thousand ($615,000).

 

The sum of the following: $615,000 gross
purchase price in Series B convertible stock.

 

ARTICLE III.

REPRESENTATIONS AND WARRANTIES

 

Section
3.1.          Representations and Warranties of the Seller.

 

The Seller hereby represents
and warrants to the Buyer that:

 

(a)          Power
and Authority; Due Authorization and Approval; Execution and Delivery. The Seller (i) has all requisite power, authority and
legal right to (a) execute, deliver and perform this Agreement, (b) carry out the terms of this Agreement and (c) sell and assign
the Claims on the terms and conditions provided herein and (ii) has duly authorized by all requisite action the execution, delivery
and performance of this Agreement and the sale and assignment of the Claims on the terms and conditions herein provided. This Agreement
has been duly executed and delivered by the Seller. This Agreement has been unanimously approved by the Audit Committee of the
Board of Directors of Seller, including the independent director serving on the Audit Committee.

 

(b)          Authorization;
Contravention. The execution, delivery and performance by the Seller of this Agreement require no action by or in respect of,
or filing with, any governmental authority, and do not contravene, or constitute a default under, any provision of applicable law,
rule or regulation or of the organizational documents of the Seller or of any agreement or of any judgment, injunction, order,
writ, decree or other instrument binding upon the Seller or result in the creation or imposition of any Adverse Claim on the assets
of the Seller.

 

(c)          Validity
and Binding Nature. This Agreement, when duly executed and delivered by the Seller, will be the legal, valid and binding obligation
of the Seller enforceable against the Seller in accordance with its respective terms, except as enforceability may be limited by
applicable bankruptcy, insolvency, reorganization, moratorium or similar law affecting creditors' rights generally and by general
principles of equity.

 

(d)          No
Adverse Claims. Immediately upon the purchase hereunder, the Buyer shall be the owner of all of the Claims, free and clear
of all Adverse Claims.

 

(e)          Value
Given. The Buyer has given reasonably equivalent value to the Seller in consideration of the transfer to the Buyer of the Claims,
no such transfer shall have been made for or on account of an antecedent debt owed by the Seller to the Buyer.

 

    	 

     

    

 

Section
3.2.          Representations and Warranties of the Buyer.

 

The Buyer hereby represents
and warrants to the Seller that:

 

(a)          Power
and Authority; Due Authorization; Execution and Delivery. The Buyer (i) has all requisite power, authority and legal right
to (a) execute, deliver and perform this Agreement, (b) carry out the terms of this Agreement and (c) purchase the Claims on the
terms and conditions provided herein and (ii) has duly authorized by all requisite action the execution, delivery and performance
of this Agreement and the purchase of the Claims on the terms and conditions herein provided. This Agreement has been duly executed
and delivered by the Buyer.

 

(b)          Authorization;
Contravention. The execution, delivery and performance by the Buyer of this Agreement require no action by or in respect of,
or filing with, any governmental authority, and do not contravene, or constitute a default under, any provision of applicable law,
rule or regulation or of any agreement or of any judgment, injunction, order, writ, decree or other instrument binding upon the
Buyer.

 

(c)          Validity
and Binding Nature. This Agreement, when duly executed and delivered by the Buyer will be, the legal, valid and binding obligation
of the Buyer enforceable against the Buyer in accordance with its respective terms, except as enforceability may be limited by
applicable bankruptcy, insolvency, reorganization, moratorium or similar law affecting creditors' rights generally and by general
principles of equity.

 

ARTICLE IV.

MISCELLANEOUS

 

Section
4.1.          Further Assurances. The Seller agrees
that from time to time, it will promptly execute and deliver all further instruments and documents, and take any and all further
action, that may be necessary or appropriate, or that the Buyer may reasonably request, in order to collect upon, perfect, protect
or more fully evidence the Claims purchased hereunder, or otherwise to enable the Buyer to exercise and enforce any of its rights
and remedies related to the Claims. Without limiting the generality of the foregoing, the Seller shall: (1) maintain all records
relating to the Claims and make such records available to the Buyer upon three (3) Business Days' prior notice, and the Buyer shall
be permitted to make and retain copies of all such records, (ii) upon the request of the Buyer, participate in any proceeding relating
to the Claims, (iii) hold in trust, and remit immediately (but in any event no later than three (3) Business Days following its
receipt thereof) to the Buyer any amounts received by the Seller in respect of the Claims and (iv) provide full cooperation in
all respects to the Buyer, its agents and representatives, and governmental and regulatory organizations to enable the Buyer to
collect upon the Claims. The parties hereto further agree that the Buyer may initiate Claims in the name of the Seller with the
consent of the Seller, which consent shall not be unreasonably withheld or delayed.

 

Section
4.2.          INTENTIONALLY DELETED.

 

Section
4.3.          Amendments. 

 

Any provision of this
Agreement may be amended, waived, supplemented or otherwise modified if, but only if, such amendment, waiver, supplement or other
modification is in writing and is signed by the parties hereto.

 

Section
4.4.          Binding Effect.

 

This Agreement shall
be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns.

 

    	 

     

    

 

Section
4.5.          Governing Law; Submission to Jurisdiction; Integration.

 

This Agreement shall
be governed by, and construed in accordance with the laws of the State of New York. Each of the parties hereto hereby submits to
the nonexclusive jurisdiction of the United States District Court for the Southern District of New York and of any New York state
court sitting in New York, New York for purposes of all legal proceedings arising out of or relating to this Agreement or the transactions
contemplated hereby. Each of the parties hereto hereby irrevocably waives, to the fullest extent it may effectively do so, any
objection which it may now or hereafter have to the laying of the venue of any such proceeding brought in such a court and any
claim that any such proceeding brought in such a court has been brought in an inconvenient forum. Each of the parties hereto hereby
waives, to the extent permitted by applicable law, any right to have a jury participate in resolving any dispute, arising out of,
connected with, relating to or incidental to the relationship between them in connection with this Agreement.

 

Section
4.6.          Integration; Counterparts; Severability.

 

This Agreement contains
the final and complete integration of all prior expressions by the parties hereto with respect to the subject matter hereof and
shall constitute the entire agreement among the parties hereto with respect to the subject matter hereof, superseding all prior
oral or written understandings. This Agreement may be executed in any number of counterparts and by different parties hereto in
separate counterparts, each of which when so executed shall be deemed to be an original and all of which when taken together shall
constitute one and the same Agreement. Any provisions of this Agreement which are prohibited or unenforceable in any jurisdiction
shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining
provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable
such provision in any other jurisdiction.

 

Section
4.7.          Headings.

 

    	 

     

    

 

The headings herein
are for purposes of references only and shall not otherwise affect the meaning or interpretation of any provision hereof.

 

IN WITNESS WHEREOF,
the Buyer and the Seller have caused this Agreement to be duly executed by their respective officers thereunto duly authorized,
as of the day and year first above written.

 

	 	SELLER:
	 	 
	 	First Capital Real Estate Operating Partnership, LP
	 	 
	 	By:	/s/ Suneet Singal
	 	Name:  	Suneet Singal
	 	Title:  	CEO First Capital Real Estate Trust Inc.
	 	 
	 	BUYER:
	 	 
	 	GADSDEN GROWTH PROPERTIES, INC
	 	 
	 	By:	/s/ John Hartman
	 	Name: 	 John Hartman
	 	Title: 	 CEO

 

    	 

     

    

 

SCHEDULE I.

 

Statement Regarding the Nature of the
Claims

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