Document:

ex_388011.htm

Exhibit 10.2

 

 

CERTAIN INDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS BOTH NOT MATERIAL AND IS THE TYPE THAT THE REGISTRATION TREATS AS PRIVATE OR CONFIDENTIAL

 

 

 

LOCK-UP AGREEMENT

 

 

 

- Among -

 

 

 

URANIUM ENERGY CORP.

 

 

- And -

 

 

UEC 2022 ACQUISITION CORP.

 

 

- And -

 

 

CONSENTING SHAREHOLDER

 

 

 

Dated as of June 13, 2022

 

 

 

 

 

 

LOCK-UP AGREEMENT

 

This lock-up agreement (the “Agreement”) dated as of June 13, 2022 sets out the agreement among Uranium Energy Corp. (“UEC”), UEC 2022 Acquisition Corp. (the “Purchaser”), a wholly-owned subsidiary of UEC and the undersigned (the “Consenting Shareholder”), regarding the proposed acquisition transaction among UEX Corporation (the “Company”), UEC and the Purchaser, as more fully described in the arrangement agreement that has been entered into among the Company, UEC and the Purchaser (the “Arrangement Agreement”, and with the terms agreed to and set out therein being the “Arrangement Terms”).

 

WHEREAS:

 

	
			(A)

				
			the Company, UEC and the Purchaser have entered into the Arrangement Agreement, which is the basis of the plan of arrangement attached as an exhibit to the Arrangement Agreement (the “Plan”), and related transactions (collectively, the “Transaction”), involving the acquisition by the Purchaser of all of the issued and outstanding common shares of the Company (the “Company Common Shares”) by way of proceedings (the “Arrangement Proceedings”) under the Canada Business Corporations Act;

			

 

	
			(B)

				
			the Consenting Shareholder wishes to support the Transaction subject to the terms and conditions contained herein and in the Arrangement Agreement;

			

 

	
			(C)

				
			the Parties have agreed to enter into this Agreement to provide for the support by the Consenting Shareholder of the Transaction;

			

 

NOW THEREFORE this Agreement witnesses that, in consideration of the premises and the covenants and agreement herein contained, the Parties hereto agree as follows:

 

	
			1.

				
			Interpretation

			

 

	 	
			(a)

				
			Capitalized terms used herein and not otherwise defined shall have the meaning to be ascribed thereto in the Arrangement Agreement.

			

 

	
			 

				
			(b)

				
			The Consenting Shareholder and the Purchaser are collectively referred to as the “Parties” and each a “Party”.

			

 

	 	
			(c)

				
			The headings in this Agreement are for reference only and shall not affect the meaning or interpretation of this Agreement.

			

 

	 	
			(d)

				
			Unless the context otherwise requires, words importing the singular shall include the plural and vice versa and words importing any gender shall include all genders.

			

 

 

- 2 -

 

	
			2.

				
			Representations and Warranties of the Consenting Shareholder

			

 

The Consenting Shareholder hereby represents and warrants to the Purchaser (and acknowledges that the Purchaser is relying upon such representations and warranties) that:

 

	 	
			(a)

				
			the Consenting Shareholder is the legal and beneficial owner, directly or indirectly, of or exercises control or direction over the number of (i) Company Common Shares, (ii) stock options exercisable for Company Common Shares (the “Options”), and/or (iii) restricted share units entitling the Consenting Shareholder to Company Common Shares (the “RSUs”) as set forth in Schedule “A” hereto;

			

 

	 	
			(b)

				
			the Relevant Securities are the only securities in the capital of the Company for which the Consenting Shareholder has legal or beneficial ownership, directly or indirectly, or exercises control or direction over, other than any warrants convertible or exchangeable into securities in the capital of the Company, and the Relevant Securities are free and clear from all Encumbrances;

			

 

	 	
			(c)

				
			no person has any agreement or option, or any right or privilege (whether by law, pre-emptive or contractual) capable of becoming an agreement or option, for the purchase, acquisition or transfer of any of the Relevant Securities, or any interest therein or right thereto, except pursuant to this Agreement, and none of the Relevant Securities are subject to any proxy, voting trust, vote pooling or other agreement with respect to the right to vote the Relevant Securities, call meetings of holders of the Company Common Shares or give consents or approvals of any kind;

			

 

	 	
			(d)

				
			(i) the Consenting Shareholder has the authority and capacity to vote or direct the voting of the Relevant Securities, to give a proxy for the Relevant Securities in connection with the meeting of shareholders of the Company held in respect of the Transaction (the “Company Meeting”) and any class meeting of holders of Relevant Securities, and has the power to dispose of the entire legal and beneficial interest in the Company Common Shares representing the Relevant Securities; (ii) the Consenting Shareholder has conducted its own analysis and made its own decision to enter in this Agreement and has obtained such independent advice in this regard as it deemed appropriate; and (iii) the Consenting Shareholder has not relied on such analysis or decision on any person other than its own independent advisors;

			

 

	 	
			(e)

				
			this Agreement has been duly executed and delivered by the Consenting Shareholder, and, assuming the due authorization, execution and delivery by the Purchaser, this Agreement constitutes the legal, valid and binding obligation of the Consenting Shareholder, enforceable in accordance with its terms, subject to laws of general application and bankruptcy, insolvency and other similar laws affecting creditors’ rights generally and general principles of equity;

			

 

	 	
			(f)

				
			the execution and delivery of this Agreement by the Consenting Shareholder and the performance by the Consenting Shareholder of its obligations contemplated herein do not and will not: (i) violate or conflict with any judgment, order, notice, decree, statute, law, ordinance, rule or regulation applicable to the Consenting Shareholder or any of its properties or assets, or (ii) constitute a default, violation or breach under any contract, commitment, agreement, arrangement, understanding or restriction that the Consenting Shareholder is a party to, except such violations, conflicts, defaults or breaches which could not, individually or in the aggregate, impair the ability of the Consenting Shareholder to perform its obligations under this Agreement; and

			

 

 

- 3 -

 

	 	
			(g)

				
			to the best of its knowledge, there is no proceeding, claim or investigation in existence, pending or threatened before any Governmental Authority against the Consenting Shareholder that, individually or in the aggregate, can reasonably be expected to have an adverse effect on the Consenting Shareholder’s ability to execute and deliver this Agreement and to perform its obligations contemplated by this Agreement.

			

 

	
			3.

				
			Purchaser’s Representations and Warranties 

			

 

The Purchaser hereby represents and warrants to the Consenting Shareholder (and acknowledges that the Consenting Shareholder is relying upon such representations and warranties) that this Agreement has been duly executed and delivered by the Purchaser, and, assuming the due authorization, execution and delivery by the Consenting Shareholder, this Agreement constitutes a legal, valid and binding obligation of the Purchaser, enforceable in accordance with its terms, subject to laws of general application and bankruptcy, insolvency and other similar laws affecting creditors’ rights generally and general principles of equity.

 

	
			4.

				
			Consenting Shareholder Covenants

			

 

	 	
			(a)

				
			Except as contemplated in this Agreement or pursuant to the exercise or settlement, as applicable, in accordance with their respective terms, of any Options or RSUs, the Consenting Shareholder agrees with the Purchaser that it shall not, directly or indirectly, in any manner:

			

 

	 	
			(i)

				
			sell, transfer, gift, assign, pledge, hypothecate, encumber, convert or otherwise dispose of any of the Relevant Securities or any interest therein or enter into any agreement, arrangement or understanding in connection therewith; or

			

 

	 	
			(ii)

				
			deposit any of the Relevant Securities into a voting trust, or grant (or permit to be granted) any proxies or powers of attorney or attorney in fact, or enter into a voting agreement, understanding or arrangement, with respect to the voting of its Relevant Securities;

			

 

in each case, without having first obtained the prior written consent of the Purchaser, which consent is within the sole discretion of the Purchaser and may be unreasonably withheld.

 

 

- 4 -

 

	 	
			(b)

				
			Except if the Consenting Shareholder is a director or officer of the Company and in such capacity and to the extent permitted by the Arrangement Agreement, agrees that it shall not, directly or indirectly:

			

 

	 	
			(i)

				
			solicit, initiate, encourage or facilitate (including by way of furnishing non-public information of the Company or the Consenting Shareholder) any Acquisition Proposal;

			

 

	 	
			(ii)

				
			(A) participate in any discussions, conversations, negotiations or other communications with any person with respect to an Acquisition Proposal; (B) furnish any information to any person in connection with an Acquisition Proposal; or (C) otherwise assist, facilitate or encourage the making of, or cooperate in any way regarding, any Acquisition Proposal;

			

 

	 	
			(iii)

				
			continue any existing negotiations, discussions, conversations or other communications with respect to any Acquisition Proposal;

			

 

	 	
			(iv)

				
			otherwise cooperate in or knowingly facilitate any effort or attempt to make, implement or accept any proposal or offer that constitutes, or may reasonably be expected to lead to, any Acquisition Proposal; or

			

 

	 	
			(v)

				
			accept or enter into or propose publicly to accept or enter into a Contract with any person relating to an Acquisition Proposal.

			

 

	 	
			(c)

				
			The Consenting Shareholder hereby irrevocably covenants, undertakes and agrees that it shall:

			

 

	 	
			(i)

				
			vote (or cause to be voted) all of the Relevant Securities:

			

 

	 	
			(A)

				
			in favour of the approval, consent, ratification and adoption of the Arrangement Agreement and the Plan (and any actions required in furtherance thereof), and not withdraw any proxies or change its vote in respect thereof;

			

 

	 	
			(B)

				
			against any resolution or action by the Company or any other person that may in any way adversely affect or reduce the likelihood of the successful completion of the Arrangement or the Transaction, or delay or interfere with, the completion of the Arrangement or the Transaction;

			

 

	 	
			(ii)

				
			not vote or grant to any person other than the Purchaser a proxy to vote or enter into any voting trust, vote pooling or other agreement with respect to the right to vote the Relevant Securities (and will cause such Relevant Securities not to be voted) in favour of any Acquisition Proposal.

			

 

 

- 5 -

 

	 	
			(iii)

				
			deliver, or cause to be delivered, to the Company’s transfer agent, or as otherwise directed by the Company, after receipt of proxy materials for, and no later than five (5) Business Days before the date of, the Company Meeting or any other meeting of holders of Company Common Shares called for the purpose of approving the Transaction, a duly executed proxy directing that the Relevant Securities be voted at such meeting in favour of the Transaction and all related matters. The Consenting Shareholder hereby revokes any and all previous proxies granted that may conflict or be inconsistent with the matters set forth in this Agreement and the Consenting Shareholder agrees not to, directly or indirectly, grant any proxy or power of attorney with respect to the matters set forth in this Agreement; and

			

 

	 	
			(iv)

				
			not support any action that is intended or would reasonably be expected to impede, interfere with, delay, postpone or discourage consummation of the Transaction or the Plan.

			

 

	 	
			(d)

				
			The Consenting Shareholder shall not, and hereby agrees not to:

			

 

	 	
			(i)

				
			assert or exercise any dissent rights and waives any rights of appraisal, or rights to dissent from the Arrangement or the Transaction that the Consenting Shareholder may have; or

			

 

	 	
			(ii)

				
			commence or participate in, and shall, and hereby agrees to, take all actions necessary to opt out of any class action with respect to, any claim, derivative or otherwise, against the Company or the Purchaser or any of their Subsidiaries (or any of their respective successors) relating to the negotiation, execution and delivery of the Arrangement Agreement or the consummation of the Transaction.

			

 

	 	
			(e)

				
			The Consenting Shareholder further agrees:

			

 

	 	
			(i)

				
			To the existence and factual details of this Agreement being set out in any public disclosure, including, without limitation, press releases and court materials, produced by the Company or the Purchaser, at the discretion of the Company or the Purchaser, in connection with the Transaction and the Plan, and

			

 

	 	
			(ii)

				
			to this Agreement being filed and/or available for inspection by the public to the extent required by law or stock exchange rules.

			

 

	
			5.

				
			Change in Nature of Transaction

			

 

	 	
			(a)

				
			In the event that: (i) the Company, with the agreement of the Purchaser, determines in its good faith judgment that it is necessary or desirable to proceed with an alternative transaction structure, including, without limitation, a takeover bid or asset or share purchase, in conjunction with or instead of the Plan; and (ii) such alternative transaction provides the same, or better, financial treatment to all affected parties and the financial implications (including tax) for the Consenting Shareholder are the same or better and the alternative transaction is on terms that are not more adverse than those contained in the Arrangement Agreement (as described in each of the foregoing clauses (i) and (ii), a “Revised Transaction”), the Consenting Shareholder shall support the completion of the Revised Transaction in the same manner and to the same extent that it has agreed to support the Transaction and the Plan under this Agreement.

			

 

 

- 6 -

 

	 	
			(b)

				
			In the event of any proposed Revised Transaction, the references in this Agreement to the Transaction shall be deemed to be changed to “Revised Transaction” and all terms, covenants, representations and warranties of this Agreement shall be and shall be deemed to have been made in the context of the Revised Transaction.

			

 

	
			6.

				
			Meaning of Relevant Securities

			

 

The term “Relevant Securities” means that number of Company Common Shares, Options and RSUs set forth in Appendix “A” hereto, being all of the securities of the Company owned legally or beneficially, either directly or indirectly, by such Consenting Shareholder or over which the Consenting Shareholder exercises direct or indirect control or direction, and will be deemed to also include (a) any Company Common Shares, Options and RSUs issued to the Consenting Shareholder pursuant to any stock dividend, stock split, recapitalization, reclassification, combination or exchange of Company Common Shares, Options or RSUs on, of, or affecting the Relevant Securities on or after the date of this Agreement, and (b) any Company Common Shares, Options and RSUs acquired by the Consenting Shareholder, or issued to the Consenting Shareholder, on or after the date of this Agreement (including pursuant to the exercise, conversion or vesting of any securities of the Company that are exercisable for, convertible into or vest as Company Common Shares (including all Relevant Securities)), and all such acquired Company Common Shares, Options and RSUs shall be deemed Relevant Securities and subject to the terms of this Agreement as though owned by the Consenting Shareholder as of the date hereof.

 

	
			7.

				
			Termination

			

 

This Agreement and the obligations of the Parties to this Agreement shall terminate upon the earliest to occur of:

 

	 	
			(a)

				
			the termination of the Arrangement Agreement in accordance with its terms;

			

 

	 	
			(b)

				
			at any time, by mutual agreement in writing executed by the Parties; or

			

 

	 	
			(c)

				
			the Effective Time of the Transaction.

			

 

Each Party shall be responsible and shall remain liable for any breach of this Agreement by such Party occurring prior to the termination of this Agreement.

 

 

- 7 -

 

	
			8.

				
			Confidentiality Obligations 

			

 

The Consenting Shareholder agrees to keep the Transaction as well as the existence and contents of this Agreement confidential and not to disclose the Transaction or the existence or contents of this Agreement to any person except as is required by law. It is understood and agreed that any disclosure with respect to the Transaction and this Agreement will be made only by the Company and the Purchaser.

 

	
			9.

				
			Miscellaneous

			

 

	 	
			(a)

				
			If the Consenting Shareholder acquires additional Company Common Shares or other securities of the Company (“Additional Shares”) after the date hereof, whether from the Company or from another shareholder of the Company, any and all rights and claims obtained by the Consenting Shareholder with respect to, on account of or pursuant to any Additional Shares shall automatically be subject to this Agreement.

			

 

	 	
			(b)

				
			This Agreement (including the schedule attached to this Agreement) constitutes the entire agreement and supersede all prior agreements and understandings, both oral and written, among the Parties with respect to the subject matter hereof.

			

 

	 	
			(c)

				
			Any provision in this Agreement may be amended or waived if, and only if, such amendment or waiver is in writing and signed, in the case of an amendment, by the Consenting Shareholder, and the Purchaser, or in the case of a waiver, by the Party against whom the waiver is to be effective. No failure or delay by any Party in exercising any right, power or privilege hereunder shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise.

			

 

	 	
			(d)

				
			Any date, time or period referred to in this Agreement shall be of the essence except to the extent to which the Parties agree in writing to vary any date, time or period, in which event the varied date, time or period shall be of the essence.

			

 

	 	
			(e)

				
			All notices and other communications which may be or are required to be given pursuant to any provision of this Agreement shall be given or made in writing and shall be deemed to be validly given if served personally or by facsimile transmission, in each case addressed to the particular Party:

			

 

	 	
			(i)

				
			If to the Purchaser, at:

			

 

Uranium Energy Corp.

Suite 1830, 1030 West Hastings Street,

Vancouver, British Columbia, Canada, V6E 2Y3

Attention: Amir Adnani, President and CEO

Main: [****]

Facsimile: [****]

Email:[****]; and

 

 

- 8 -

 

	 	
			(ii)

				
			If to the Consenting Shareholder, at:

			

 

___________________________________________ (name)

c/o UEX Corporation

Unit 200 – 3530 Millar Avenue

Saskatoon, Saskatchewan, Canada, S7P 0B6

Attention:         Roger Lemaitre, Chief Executive Officer

Email:               [****];

 

or at such other address of which any Party may, from time to time, advise the other Parties by notice in writing given in accordance with the foregoing. The date of receipt of any such notice shall be deemed to be the date of delivery or transmission thereof.

 

	 	
			(f)

				
			If any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any rule of law or public policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the Parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible in a mutually acceptable manner in order that the terms of this Agreement remain as originally contemplated to the fullest extent possible.

			

 

	 	
			(g)

				
			The provisions of this Agreement shall be binding upon and enure to the benefit of the Parties hereto and their respective successors and permitted assigns, provided that no Party may assign, delegate or otherwise transfer any of its rights, interests or obligations under this Agreement without the prior written consent of the other Party hereto, except that the Purchaser may assign this Agreement to an affiliate, without reducing its own obligations hereunder, without the consent of the Consenting Shareholder.

			

 

	 	
			(h)

				
			This Agreement is governed by the laws of the Province of British Columbia and the federal laws of Canada applicable therein. Each Party submits to the jurisdiction of the courts of competent jurisdiction in the Province of British Columbia in respect of any action or proceeding relating to this Agreement. The Parties shall not raise any objection to the venue of any proceedings in any such court, including the objection that the proceedings have been brought in an inconvenient forum.

			

 

	 	
			(i)

				
			The Consenting Shareholder recognizes and acknowledges that this Agreement is an integral part of the Transaction, that the Purchaser would not enter into the Arrangement Agreement and the Plan unless this Agreement was executed, and accordingly acknowledges and agrees that a breach by the Consenting Shareholder of any covenants or other commitments contained in this Agreement will cause the Purchaser to sustain injury for which they may not have an adequate remedy at law for monetary damages. Therefore, the Parties agree that in the event of any such breach the Purchaser shall be entitled to the remedy of specific performance of such covenants or commitments and preliminary and permanent injunctive and other equitable relief in addition to any other remedy to which it may be entitled, at law or in equity, and the Parties further agree to waive any requirement for the securing or posting of any bond in connection with the obtaining of any such injunctive or other equitable relief.

			

 

 

- 9 -

 

	 	
			(j)

				
			The Parties confirm that it is their wish that this Agreement, as well as any other documents relating to this Agreement, including notices, schedules and authorizations, have been and shall be drawn up in the English language only.

			

 

	 	
			(k)

				
			This Agreement may be executed by facsimile or other electronic means and in one or more counterparts, all of which shall be considered one and the same agreement.

			

 

 

- 10 -

 

This Agreement has been agreed and accepted on the date first written above.

 

	 	 	
			URANIUM ENERGY CORP.

			
	 	 	 	 
	 	 	
			By:

				 
	 	 	 	
			Name:       Amir Adnani

			
	 	 	 	
			Title:         President and CEO

			
	 	 	 	 
	 	 	 	 
	 	 	
			UEC 2022 ACQUISITION CORP.

			
	 	 	 
	 	 	 
	 	 	
			By:

				 
	 	 	 	
			Name:       Amir Adnani

			
	 	 	 	
			Title:         President and CEO

			

 

 

	
			SIGNED AND DELIVERED in the presence of:

			 

			                                                                              

			Witness Signature

			 

			                                                                              

			Witness Name (Printed)

			 

			                                                                              

			Witness Address

				
			)

			)

			)

			)

			)

			)

			)

			)

			)

				
			 

			                                                                              

			Signature of Consenting Shareholder

			 

			                                                                              

			Print Name of Consenting Shareholder:

			

 

 

- 11 -

 

SCHEDULE A - RELEVANT SECURITIES

 

	
			REGISTERED HOLDER

				
			BENEFICIAL HOLDER

				
			NUMBER AND TYPE OF SECURITY

			
	 	 	
			_________ Common Shares

			
	 	 	
			_________ Stock Options

			
	 	 	
			__________ RSUsExhibit 10.1

 

COGNOVIT PROMISSORY NOTE

 

$10,500,000.00

 

June 16, 2022

 

FOR VALUE RECEIVED,
HALL OF FAME ENTERTAINMENT & RESORT COMPANY, a Delaware corporation, HOF VILLAGE RETAIL I, LLC, a Delaware limited liability company,
and HOF VILLAGE RETAIL II, LLC, a Delaware limited liability company (collectively, “Borrower”), as makers, jointly
and severally hereby unconditionally promise to pay to CH CAPITAL LENDING, LLC, a Delaware limited liability company (together with its
successors and/or assigns, “Lender”), or order, the principal sum of TEN MILLION FIVE HUNDRED THOUSAND and 00/100 Dollars
($10,500,000.00) (the “Maximum Principal Amount”), or so much thereof as may be advanced to or for the benefit of Borrower,
in lawful money of the United States of America, with interest thereon computed in accordance with Paragraph 1(b), all to
be paid in accordance with the terms of this Promissory Note (as amended, restated, supplemented, waived, or otherwise modified from time
to time, this “Note”).

 

1. Payment
Terms; Advances; Interest; Origination Fee.

 

(a) Borrower
agrees to pay the principal sum of this Note, interest on the unpaid principal sum of this Note, and all other amounts due under this
Note from time to time outstanding, in accordance with the terms of this Note.

 

(b) Interest
shall accrue on the outstanding balance of this Note at the greater of (i) twelve percent (12%) per annum, compounded monthly, or
(ii) if applicable, the Default Rate (as defined in Paragraph 3(e)(iii)) (such greater rate, the “Interest Rate”).
Interest on funds advanced by Lender to Borrower pursuant to this Note shall accrue from the date such advance is made to Borrower (or
is made on behalf of Borrower, at Borrower’s request, to third parties). Interest payable pursuant to this Note shall be computed
on the basis of a 360-day year and the actual number of days elapsed in any portion of a month in which interest is due. Interest shall
be paid by Borrower to Lender on the Note Maturity Date. Whenever any payment to be made hereunder shall be stated to be due on a day
that is not a Business Day (as defined in Paragraph 3(e)(i)), such payment shall be made on the next succeeding Business Day
and such extension of time shall be included in the computation of the interest due hereunder.

 

(c) The
outstanding principal balance of this Note, all accrued and unpaid interest thereon, and all other amounts due under this Note shall be
due and payable on or before the applicable Note Maturity Date (as defined in Paragraph 3(e)(vi)).

 

(d) All
payments under this Note shall be made to Lender at the following address, or at such other place as Lender may from time to time designate
in writing: 11111 Santa Monica Blvd., Suite 800, Los Angeles, California 90025.

 

(e) Principal
and interest shall be paid without deduction or offset in lawful money of the United States. Borrower shall have the right to prepay all
or any portion of the principal amount of this Note at any time before the Note Maturity Date without penalty or premium for prepayment.
Payments shall be applied first to interest, Late Charges, and other costs due to Lender hereunder, and the balance to principal.

 

    1

     

    

 

2. Expenses; Indemnification.

 

(a) Borrower
agrees to pay promptly: (i) all the actual and reasonable documented costs and expenses of Lender, including reasonable attorneys’
fees, in connection with the negotiation, preparation, and execution of this Note and the transactions contemplated hereby, (ii) all
fees, costs, and expenses incurred by Lender (including during the pendency of any bankruptcy, insolvency, receivership, or other similar
proceeding, regardless of whether allowed or allowable in such proceeding) to maintain, protect, or preserve Lender’s rights under
this Note or with respect to any collateral that secures this Note, (iii) all the actual and reasonable costs and expenses of creating
and perfecting liens on any collateral that secures this Note in favor of Lender, including filing and recording fees, expenses, and taxes,
stamp or documentary taxes, search fees, title insurance premiums, and reasonable fees, expenses, and disbursements of counsel to Lender,
(iv) all the actual and reasonable costs and fees, expenses, and disbursements of any auditors, accountants, consultants, or appraisers
engaged by Lender in connection with the transactions contemplated by this Note, (v) all the actual and reasonable costs and expenses
(including the reasonable fees, expenses, and disbursements of any appraisers, consultants, advisors, and agents employed or retained
by Lender) in connection with the custody or preservation of any of collateral that secures this Note, and (vi) after the occurrence
of a Default (as defined in Paragraph 4(e)(ii)) or an Event of Default (as defined in Paragraph 4(e)(iv)), all
documented costs and expenses, including reasonable attorneys’ fees and costs of settlement, incurred by Lender in enforcing any
obligations under this Note or under any other agreement executed in connection with or securing this Note, or in collecting any payments
due from Borrower under this Note or under any other agreement executed in connection with or securing this Note by reason of such Default
or Event of Default (including in connection with the sale of, collection from, or other realization upon any of collateral securing this
Note) or in connection with any refinancing or restructuring of the credit arrangements provided hereunder in the nature of a “work-out”
or pursuant to any insolvency or bankruptcy cases or proceedings.

 

(b) Borrower
agrees to indemnify Lender and each of Lender’s employees, agents and representatives, and their respective successors and assigns
(each of the foregoing Persons (as defined in Paragraph 4(e)(vii)), an “Indemnitee”) against, and to hold
each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related costs and expenses, including reasonable counsel
fees, disbursements and other charges, incurred by or asserted against any Indemnitee arising out of, in any way connected with, or as
a result of (i) the execution or delivery of this Note or any other agreement executed in connection with or securing this Note,
the performance by the parties thereto of their respective obligations thereunder, or the consummation of the transactions contemplated
thereby, (ii) the use of the proceeds of this Note, (iii) any claim, litigation, investigation or proceeding relating to any
of the foregoing, whether or not any Indemnitee is a party thereto, or (iv) any actual release of hazardous materials on the Mortgaged
Property (as defined in Paragraph 4) in violation of applicable environmental laws; provided that such indemnity shall not, as
to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related costs and expenses are determined
by a court of competent jurisdiction by final and non-appealable judgment to have resulted primarily from the gross negligence or willful
misconduct of such Indemnitee (and, upon any such determination, any indemnification payments with respect to such losses, claims, damages,
liabilities or related costs and expenses previously received by such Indemnitee shall be subject to reimbursement by such Indemnitee).
To the extent that the undertakings to defend, indemnify, pay and hold harmless set forth in this Paragraph 2(b) may be unenforceable
in whole or in part because they are violative of any law or public policy, Borrower shall contribute the maximum portion that it is permitted
to pay and satisfy under applicable law to the payment and satisfaction of all indemnified liabilities incurred by Indemnitees or any
of them.

 

(c) To
the extent permitted by applicable law, Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory
of liability, for special, indirect, consequential, or punitive damages (as opposed to direct or actual damages) arising out of, in connection
with, or as a result of, this Note or any other agreement executed in connection with or securing this Note or any agreement or instrument
contemplated hereby, the transactions contemplated hereby or thereby, or the use of the proceeds of this Note.

 

    2

     

    

 

(d) Any
amounts payable to Lender under this Paragraph 2 shall accrue interest at the Interest Rate, calculated from the date of payment
or disbursement by Lender, until repaid in full.

 

3. Default
and Acceleration.

 

(a) Upon
the occurrence and during the continuance of any Event of Default, and at any time and from time to time thereafter, in addition to any
other rights or remedies available to Lender under this Note, at law, or in equity:

 

(i) Borrower
shall pay interest on the outstanding principal and interest at an interest rate equal to the Default Rate.

 

(ii) Lender
may, at its option, take such action, without notice or demand, that Lender deems advisable to protect and enforce its rights against
Borrower and/or in and to any collateral that secures this Note; including, without limitation, declaring Borrower’s obligations
under this Note to be immediately due and payable (including any accrued and unpaid interest and any other amounts owing by Borrower under
this Note).

 

(b) If
any payment owing from Borrower to Lender under this Note is not received by Lender within ten (10) days following its due date,
Borrower shall pay to Lender an additional sum equal to four percent (4%) of the overdue amount as a late charge (the “Late
Charge”). The Late Charge shall be paid to Lender within ten (10) days after the date incurred, and any failure to pay
the Late Charge within thirty (30) days after the date incurred shall be an Event of Default hereunder.

 

(c) Borrower
recognizes that any failure by Borrower to timely make the payments provided for herein, or any other Event of Default hereunder, will
cause Lender to incur costs not contemplated by this Note (including, without limitation, processing and accounting charges, loss of use
of funds, and frustration to Lender in meeting its other financial commitments), and that the damages caused thereby would be extremely
difficult and impractical to ascertain. Borrower hereby agrees that, if any such event should occur, the Default Rate (if applicable)
and the Late Charge (if applicable), represent a fair and reasonable estimate of the damages and costs to Lender, considering all the
circumstances existing on the date of this Note. The parties further agree that proof of actual damages would be costly or inconvenient.
Acceptance of the Late Charge (if applicable) will not be deemed a waiver of any Default or Event of Default (unless such Default or Event
of Default is cured in accordance with the provisions of this Note), and shall not prevent Lender from exercising any other rights and
remedies available to Lender.

 

(d) No
failure or delay on the part of Lender in exercising any right or remedy under this Note or under any other agreement executed in connection
with or securing this Note shall operate as a waiver of any such right or remedy. No right, power, or remedy given to Lender by the terms
of this Note or by the terms of any other agreement executed in connection with or securing this Note is intended to be exclusive of any
other right, power, or remedy, and each and every such right, power, or remedy shall be cumulative and in addition to every other right,
power, or remedy given to Lender by the terms of any instrument or by any statute or otherwise against Borrower or any other Person. No
single or partial exercise by Lender of any power hereunder, or under any other document executed in connection with or securing this
Note, shall preclude other or further exercise thereof or the exercising of any other power.

 

(e) For
purposes of this Note:

 

(i) “Business
Day” means any day other than Saturday, Sunday or other day on which commercial banks in Cleveland, Ohio are authorized or required
by law to remain closed; provided, however, for clarification, commercial banks shall not be deemed to be authorized or required
by law to remain closed due to “stay at home”, “shelter-in-place”, “non-essential employee” or any
other similar orders or restrictions or the closure of any physical branch locations at the direction of any governmental authority, so
long as the electronic funds transfer systems (including for wire transfers) of commercial banks in Cleveland, Ohio are generally are
open for use by customers on such day.

 

    3

     

    

 

(ii) “Default”
means any event or condition that, upon notice, lapse of time, or both, would constitute an Event of Default.

 

(iii) “Default
Rate” means the lesser of (A) five percentage points in excess of the Interest Rate, and (B) the Maximum Legal Rate
(as defined in Paragraph 6(a)).

 

(iv)
“Event of Default” means (A) Borrower’s failure to pay, on or before the due date thereof (subject to Paragraph 3(b)
with respect to Late Charges only and subject to Paragraph 3(c)), any amount owing to Lender under this Note or under any
other agreement executed in connection with this Note, or (B) Borrower’s failure, within five (5) days after written notice
from Lender to Borrower, to comply with any non-monetary covenant contained in this Note or in any other agreement executed in connection
with or securing this Note.

 

(v) “Financing”
means that Borrower or any other direct or indirect subsidiary of Hall of Fame Resort & Entertainment Company receives, or is entitled
to receive, proceeds of any financing, loan, extension of credit, equity issuance, or similar cash generating event. Examples of a Financing
include, but are not limited to, loans secured by mortgages on real property, loans secured by accounts receivable, personal property,
or cash or cash equivalents, tax increment financing, tourism development district bond financing, PACE financing, issuance of shares
or warrants for which a purchase price is paid, and unsecured loans and lines of credit.

 

(vi) “Net
Proceeds” means that amount which remains available for payout after payment of (1) liens (mortgage, judgment, and mechanic’s,
if any) encumbering the real, personal or intangible property which is the subject of the Financing, and (2) usual, customary and typical
costs for a transaction of the type which is the subject of the Financing.

 

(vii) “Note
Maturity Date” means September 10, 2022 unless an earlier payment is required pursuant to the provisions of Section 4 of this
Note.

 

(viii) “Person”
means any individual, partnership, limited liability company, corporation, joint venture, association, trust, or other entity

 

(ix) “Term”
means the period commencing on the date hereof and ending on the applicable Note Maturity Date.

 

4. Security;
Covenant to Pay Net Proceeds to Lender. This Note is secured by (a) a Mortgage (the “Mortgage”) encumbering
that certain real property known as Auditor Parcel Nos. 10015053, 10014342, 10015055, and 10014341 located in Canton, Ohio, commonly known
as the Retail Center I and Retail Center II parcels (the “Mortgaged Property”), as more particularly described therein;
and (b) a pledge and security interest (the “Pledge”) in all of the membership interests held by HOF Village Newco,
LLC, a Delaware limited liability company, in the following Delaware limited liability companies: (i) HOF Village Waterpark, LLC, and
(ii) HOF Village Hotel I, LLC. Notwithstanding anything contained in this Note or the Mortgage to the contrary, Borrower shall have no
right, without Lender’s consent, to enter into additional indebtedness and to grant liens on the Mortgaged Property or on the real
property or real property interests held or owned by HOF Village Waterpark, LLC or HOF Village Hotel I, LLC. Hall of Fame Entertainment
& Resort Company, for itself and each, every and all of its direct and indirect subsidiaries, covenants and agrees that the Net Proceeds
of a Financing which occurs after the date of this Note shall be paid to Lender to the extent of the aggregate of the then unpaid principal
balance, interest, Late Charges, and costs, expenses and fees which Borrower is or may have become obligated to pay under the several
provisions of this Note (collectively, the “Amount Due”). If the Net Proceeds are insufficient to pay the Amount Due in full,
the principal balance due hereunder shall be reduced by the amount of principal reflected on a Lender-approved closing or settlement statement
after the payment of all costs, fees and expenses of Lender, but otherwise all of the provisions of this Note, the Mortgage, and the Pledge
shall remain in full force and effect until the remaining Amount Due is paid in full.

 

    4

     

    

 

5. Savings
Clause. Notwithstanding anything to the contrary contained herein:

 

(a) All
agreements and communications between Borrower and Lender are hereby, and shall, automatically be limited so that, after taking into account
all amounts deemed to constitute interest, the interest contracted for, charged, or received by Lender shall never exceed the maximum
non-usurious interest rate (if any), that at any time or from time to time may be contracted for, taken, reserved, charged, or received
on the indebtedness evidenced by this Note, under the laws of any state whose laws are held by any court of competent jurisdiction to
govern the interest rate provisions of this Note (the “Maximum Legal Rate”).

 

(b) In
calculating whether any interest exceeds the Maximum Legal Rate, all such interest shall be amortized, prorated, allocated, and spread
over the full amount and term of all principal indebtedness of Borrower to Lender.

 

(c) If,
through any contingency or event, Lender receives or is deemed to receive interest in excess of the Maximum Legal Rate, any such excess
shall be deemed to have been applied toward the payment of the principal of any and all then outstanding indebtedness of Borrower to Lender,
or if there is no such indebtedness, shall immediately be returned to Borrower.

 

6. No
Oral Change. This Note may not be modified, amended, waived, extended, changed, discharged, or terminated orally or by any act
or failure to act on the part of Borrower or Lender, but only by an agreement in writing signed by the party against whom enforcement
of any modification, amendment, waiver, extension, change, discharge, or termination is sought.

 

7. Waivers.
Borrower and all others who may become liable for the payment of all or any part of the obligations evidenced by this Note do hereby jointly
and severally waive presentment and demand for payment, notice of dishonor, notice of intention to accelerate, notice of acceleration,
protest and notice of protest and non-payment, and all other notices of any kind, except as expressly provided herein. No release of any
security for the obligations evidenced by this Note, nor any extension of time for payment of this Note or any installment hereof, and
no alteration, amendment, or waiver of any provision of this Note or of any other agreement between Lender (on one hand) and any other
Person (on the other hand), shall release, modify, amend, waive, extend, change, discharge, terminate, or affect the liability of Borrower
or any other Person who may become liable for the payment of all or any part of the obligations evidenced by this Note. No notice to or
demand on Borrower shall be deemed to be a waiver of the obligation of Borrower or of the right of Lender to take further action without
further notice or demand, as provided for in this Note or in any other agreement executed in connection with or securing this Note.

 

8. Transfer;
Successors and Assigns.

 

(a) This
Note and any of Lender’s rights hereunder may be assigned by Lender, at any time, to any entity that is directly or indirectly controlling,
controlled by, or under common control with Lender. Any such assignee or transferee of Lender shall be entitled to all the benefits afforded
to Lender under this Note. Upon any such transfer of this Note by Lender, Lender may deliver its rights to all the collateral (if any)
mortgaged, granted, pledged, or assigned as security for this Note (or any part thereof) to the transferee, who shall thereupon become
vested with all the rights and obligations herein or under applicable law given to Lender with respect thereto, and Lender shall thereafter
forever be relieved and fully discharged from any liability or responsibility in the matter; but Lender shall retain all rights and obligations
hereby given to it with respect to any liabilities and the collateral not so transferred.

 

(b) Borrower
shall not have the right to assign or transfer Borrower’s rights or obligations under this Note without Lender’s prior written
consent (which consent may be withheld in Lender’s sole discretion). Any attempted assignment or transfer by Borrower of Borrower’s
rights or obligations under this Note without Lender’s prior written consent shall be null and void.

 

(c) Subject
to the foregoing, this Note shall be binding upon, and shall inure to the benefit of, Borrower and Lender and their respective heirs,
successors and/or permitted assigns.

 

    5

     

    

 

9. Governing
Law; Jurisdiction; Service of Process.

 

(a) IN
ALL RESPECTS, INCLUDING MATTERS OF CONSTRUCTION, VALIDITY, AND PERFORMANCE, THIS NOTE AND THE OBLIGATIONS ARISING HEREUNDER SHALL BE GOVERNED
BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF OHIO, APPLICABLE TO CONTRACTS MADE AND PERFORMED IN SUCH STATE, AND ANY
APPLICABLE LAW OF THE UNITED STATES OF AMERICA. TO THE FULLEST EXTENT PERMITTED BY LAW, BORROWER HEREBY UNCONDITIONALLY AND IRREVOCABLY
WAIVES ANY CLAIM TO ASSERT THAT THE LAW OF ANY OTHER JURISDICTION GOVERNS THIS NOTE.

 

(b) ANY
LEGAL SUIT, ACTION, OR PROCEEDING AGAINST BORROWER ARISING OUT OF OR RELATING TO THIS NOTE SHALL BE INSTITUTED IN ANY FEDERAL OR STATE
COURT IN STARK COUNTY, OHIO. BORROWER HEREBY WAIVES ANY OBJECTION WHICH BORROWER MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY
SUCH SUIT, ACTION, OR PROCEEDING, AND BORROWER HEREBY IRREVOCABLY SUBMITS TO THE JURISDICTION OF ANY SUCH COURT IN ANY SUIT, ACTION, OR
PROCEEDING. BORROWER AGREES THAT SERVICE OF PROCESS UPON BORROWER AT THE ADDRESS FOR BORROWER SET FORTH IN PARAGRAPH 11, AND
WRITTEN NOTICE OF SAID SERVICE MAILED OR DELIVERED TO BORROWER IN THE MANNER PROVIDED IN PARAGRAPH 11, SHALL BE DEEMED IN
EVERY RESPECT EFFECTIVE SERVICE OF PROCESS UPON BORROWER IN ANY SUCH SUIT, ACTION, OR PROCEEDING. BORROWER SHALL GIVE PROMPT NOTICE TO
LENDER OF ANY CHANGE IN THE ADDRESS FOR BORROWER SET FORTH IN PARAGRAPH 11. NOTHING CONTAINED HEREIN SHALL AFFECT THE RIGHT
OF LENDER TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW. NOTWITHSTANDING THE FOREGOING, LENDER SHALL HAVE THE RIGHT TO INSTITUTE
ANY LEGAL SUIT, ACTION, OR PROCEEDING FOR THE ENFORCEMENT OR FORECLOSURE OF ANY LIEN ON ANY COLLATERAL FOR THIS NOTE AND THE OBLIGATIONS
EVIDENCED BY THIS NOTE IN ANY FEDERAL OR STATE COURT IN ANY JURISDICTION THAT LENDER MAY ELECT, IN ITS SOLE AND ABSOLUTE DISCRETION. BORROWER
WAIVES ANY OBJECTION WHICH BORROWER MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY SUCH SUIT, ACTION, OR PROCEEDING, AND BORROWER
HEREBY IRREVOCABLY SUBMITS TO THE JURISDICTION OF ANY SUCH COURT IN ANY SUIT, ACTION, OR PROCEEDING.

 

10. Waiver of Jury
Trial. BORROWER (AND LENDER, BY ITS ACCEPTANCE HEREOF) HEREBY AGREES NOT TO ELECT A TRIAL BY JURY OF ANY ISSUE TRIABLE OF RIGHT
BY JURY, AND WAIVES ANY RIGHT TO TRIAL BY JURY FULLY TO THE EXTENT THAT ANY SUCH RIGHT SHALL NOW OR HEREAFTER EXIST WITH REGARD TO THIS
NOTE, THE OBLIGATIONS EVIDENCED BY THIS NOTE, OR ANY CLAIM, COUNTERCLAIM, OR OTHER ACTION ARISING IN CONNECTION THEREWITH. THIS WAIVER
OF RIGHT TO TRIAL BY JURY IS GIVEN KNOWINGLY AND VOLUNTARILY BY BORROWER AND BY LENDER, AND IS INTENDED TO ENCOMPASS INDIVIDUALLY EACH
INSTANCE AND EACH ISSUE AS TO WHICH THE RIGHT TO A TRIAL BY JURY WOULD OTHERWISE ACCRUE. LENDER OR BORROWER IS HEREBY AUTHORIZED TO FILE
A COPY OF THIS PARAGRAPH IN ANY PROCEEDING AS CONCLUSIVE EVIDENCE OF THIS WAIVER.

 

    6

     

    

 

11. Notices.
Any notice, demand, consent, approval, or document that Borrower or Lender is required or may desire to give or deliver to the other party
shall be given in writing by (a) personal delivery; (b) certified mail, return receipt requested, postage prepaid; (c) a national overnight
courier service that provides written evidence of delivery; or (d) electronic mail transmission and addressed as to such other party at
its notice address set forth below:

 

(a) If
to Lender:

 

CH Capital Lending, LLC

11111 Santa Monica Blvd., Suite 800

Los Angeles, CA 90025

Email: jmase@industrialrealtygroup.com

 

With a copy to (which shall not constitute notice):

 

Fainsbert Mase Brown & Sussman, LLP

11111 Santa Monica Blvd., Suite 810

Los Angeles, CA 90025

Attention: Dean Sussman, Esq.

Email: DSussman@fms-law.com

 

(b) If
to Borrower:

 

c/o Hall of Fame Entertainment & Resort Company

2626 Fulton Dr. NW

Canton, OH 44718

Attention: Benjamin Lee

Email: Benjamin.Lee@HOFVILLAGE.com

 

and

 

c/o Hall of Fame Entertainment & Resort Company

2626 Fulton Dr. NW

Canton, OH 44718

Attention: Tara Charnes

Email: tara.charnes@HOFVillage.com

 

Any party may change its notice
address (or any portion thereof) by giving written notice thereof in accordance with this paragraph. All notices hereunder shall be deemed
given: (i) if delivered personally, when delivered; (ii) if sent by certified mail, return receipt requested, postage prepaid, on the
third day after deposit in the U.S. mail; (iii) if sent by overnight courier, on the first Business Day after delivery to the courier;
and (iv) if sent by electronic mail, on the date of transmission if sent on a Business Day before 5:00 p.m. Eastern time, or on the next
Business Day, if sent on a day other than a Business Day or if sent after 5:00 p.m. Eastern time; provided that a hard copy of
any notice sent by electronic mail must also be sent by either a nationally recognized overnight courier or by U.S. mail, first class,
postage prepaid.

 

12. Time
of the Essence. Time is of the essence with respect to Borrower’s obligations under this Note.

 

13. Severability.
In the event any term or provision of this Note is held to be invalid, illegal, or unenforceable in any respect, such invalidity, illegality,
or unenforceability shall not affect any other term or provision of this Note, which terms and provision shall remain binding and enforceable.

 

14. Confession
of Judgment. The undersigned irrevocably authorizes and empowers any attorney-at-law (including, without limitation, any attorney
who has represented or does represent the holder of this Note) to appear for it, in the name and on behalf of the undersigned, before
any court in the State of Ohio or elsewhere having statutory jurisdiction to render a cognovit judgment against the undersigned and/or
any endorser, or surety, at any time after this obligation becomes due, and waive process and service thereof, and without notice, confess
judgment against the undersigned in favor of the payee or holder, for the amount that may appear to be due hereon for principal, interest,
damages and costs of suit, release all errors in any judgments so confessed, and waive all right and benefit of appeal and stay of execution.
In the event the attorney at law who confesses judgment hereon has represented or does represent the holder of this Note, the undersigned
specifically waives any conflict of interest on the part of such confessing attorney and specifically consents to the payment by the holder
of this Note of the legal fee of the confessing attorney for confessing judgment hereon. The undersigned expressly acknowledges that the
within warrant of attorney shall be deemed a continuing warrant of attorney and shall not be extinguished or terminated by reason of its
having been utilized once or more than once against one or more of the undersigned, and that the within warrant of attorney shall survive
the entry of any judgment hereon and shall remain in effect as long as any amounts due thereon remain unpaid. This provision and the rights
herein granted shall not be affected by the dissolution or liquidation of any of the undersigned. Each of the undersigned further acknowledge
and agree that, upon any acceleration of the indebtedness of the undersigned, for any reason, failure to pay the entire outstanding accelerated
indebtedness shall be a payment default under Ohio Revised Code Section 2323.13.

 

(Remainder of page intentionally left blank;
signature page follows)

 

    7

     

    

 

IN WITNESS WHEREOF, Borrower
and Lender have duly executed this Promissory Note as of the day and year first above written.

 

Borrower:

 

“WARNING: BY SIGNING
THIS PAPER, YOU GIVE UP YOUR RIGHT TO NOTICE AND COURT TRIAL. IF YOU DO NOT PAY ON TIME, A COURT JUDGMENT MAY BE TAKEN AGAINST YOU WITHOUT
YOUR PRIOR KNOWLEDGE AND THE POWERS OF A COURT CAN BE USED TO COLLECT FROM YOU REGARDLESS OF ANY CLAIMS YOU MAY HAVE AGAINST THE CREDITOR,
WHETHER FOR RETURNED GOODS, FAULTY GOODS, FAILURE ON HIS PART TO COMPLY WITH THE AGREEMENT, OR ANY OTHER CAUSE.”

 

	 	HALL OF FAME ENTERTAINMENT & RESORT COMPANY,
	 	a Delaware corporation
	 	 	 
	 	By:	/s/ Michael
    Crawford
	 	 	Name: 	Michael Crawford
	 	 	Title: 	President and Chief Executive Officer

 

Signature Page

Promissory Note

 

     

     

    

 

IN WITNESS WHEREOF, Borrower
and Lender have duly executed this Promissory Note as of the day and year first above written.

 

Borrower:

 

“WARNING: BY SIGNING
THIS PAPER, YOU GIVE UP YOUR RIGHT TO NOTICE AND COURT TRIAL. IF YOU DO NOT PAY ON TIME, A COURT JUDGMENT MAY BE TAKEN AGAINST YOU WITHOUT
YOUR PRIOR KNOWLEDGE AND THE POWERS OF A COURT CAN BE USED TO COLLECT FROM YOU REGARDLESS OF ANY CLAIMS YOU MAY HAVE AGAINST THE CREDITOR,
WHETHER FOR RETURNED GOODS, FAULTY GOODS, FAILURE ON HIS PART TO COMPLY WITH THE AGREEMENT, OR ANY OTHER CAUSE.”

 

	 	HOF VILLAGE RETAIL I, LLC,
	 	a Delaware limited liability company
	 	 	 
	 	By:	/s/ Michael Crawford 
	 	 	Name:	Michael Crawford 
	 	 	Title:	President and Chief Executive Officer

 

     

     

    

 

IN WITNESS WHEREOF, Borrower
and Lender have duly executed this Promissory Note as of the day and year first above written.

 

Borrower:

 

“WARNING: BY SIGNING
THIS PAPER, YOU GIVE UP YOUR RIGHT TO NOTICE AND COURT TRIAL. IF YOU DO NOT PAY ON TIME, A COURT JUDGMENT MAY BE TAKEN AGAINST YOU WITHOUT
YOUR PRIOR KNOWLEDGE AND THE POWERS OF A COURT CAN BE USED TO COLLECT FROM YOU REGARDLESS OF ANY CLAIMS YOU MAY HAVE AGAINST THE CREDITOR,
WHETHER FOR RETURNED GOODS, FAULTY GOODS, FAILURE ON HIS PART TO COMPLY WITH THE AGREEMENT, OR ANY OTHER CAUSE.”

 

	 	HOF VILLAGE RETAIL II, LLC,
	 	a Delaware limited liability company
	 	 	 
	 	By:	/s/ Michael Crawford
	 		Name:	Michael Crawford
	 		Title:	President and Chief Executive Officer

 

Signature Page

Promissory Note

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