Document:

EX-10.44

 Exhibit 10.44 

TENANTS IN COMMON AGREEMENT 
 This TENANTS
IN COMMON AGREEMENT (the “Agreement”), dated effective as of August 2, 2021 (the “Effective Date”), is entered into between GIPIL 525 S PERRYVILLE RD, LLC, a Delaware limited liability company
(“GIPIL”), and SUNNY RIDGE MHP, LLC, a Florida limited liability company (“Sunny Ridge”) (each sometimes hereinafter also referred to as a “Tenant in Common”, and collectively referred to herein as
the “Tenants in Common”). 
 WHEREAS, the Tenants in Common will acquire as tenants in common, and not as partners
or joint venturers, the percentage undivided interests (each, an “Interest”) set forth in Exhibit A in certain real property and improvements, as more particularly described in Exhibit B attached hereto and
incorporated herein (the “Property”); 
 WHEREAS, the Tenants in Common desire to enter into this Agreement to
provide for the orderly administration of their rights and responsibilities as to each other and as to others and to delegate authority and responsibility for the intended further operation and management of the Property; and 

WHEREAS, the Property is subject to a loan (the “Loan”) secured by a Mortgage encumbering the Property (the
“Mortgage”) in favor of American Momentum Bank (together with its successor and assigns, “Lender”) (the Mortgage and other documents, agreements, and instruments evidencing, securing, or delivered to the Lender in
connection with the Loan are collectively referred to herein as the “Loan Documents”). 
 NOW THEREFORE, in
consideration of the mutual covenants and conditions contained in this Agreement and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as set forth below. 

1. Nature of Relationship Between Co-Tenants. The Tenants in Common shall each hold
their respective interests in the Property, in such percentages as set forth on Exhibit A attached hereto and made a part hereof, as tenants in common. The Tenants in Common do not intend by this Agreement to create a partnership or a joint
venture, but merely to set forth the terms and conditions upon which each of them shall hold their respective interests in the Property. The Tenants in Common do not intend or desire to create a partnership or joint venture with the Property Manager
(as defined in Section 2.1 below). Each Tenant in Common hereby elects to be excluded from the provisions of Subchapter K of Chapter 1 of the Internal Revenue Code of 1986, as amended (the “Code”), with respect to the joint
ownership of the Property. The exclusion elected by the Tenants in Common hereunder shall commence with the execution of this Agreement. Each Tenant in Common hereby covenants and agrees that each Tenant in Common shall report on such Tenant in
Common’s respective federal and state income tax returns such Tenant in Common’s respective share of items of income, deduction, and credits which result from holding the Property in a manner consistent with exclusion of the Tenants in
Common from Subchapter K of Chapter 1 of the Code, commencing with the first taxable year of the tenancy in common created by this Agreement. No Tenant in Common shall notify the Commissioner of Internal Revenue that such Tenant in Common desires
that Subchapter K of the Code apply to the Tenants in Common and each Tenant in Common hereby agrees to indemnify, protect, defend, and hold the other Tenant in Common free and harmless from all costs, liabilities, tax consequences, and expenses,
including, without limitation, attorneys’ fees, which may result from any Tenant in Common so notifying such Commissioner in violation of this Agreement or otherwise taking a contrary position on any tax return. Except as expressly provided
herein, no Tenant in Common is authorized to act as agent for, to act on behalf of, or to do any act that will bind any other Tenant in Common or to incur any obligations with respect to the Property. 

 2. Management. 

2.1 Property Manager. Concurrently herewith, the Tenants in Common and Generation Income Properties, LP (the
“Property Manager”), are entering into a property management agreement (the “Property Management Agreement”) with respect to the Property. The Property Management Agreement shall be for a term of no longer than
twelve (12) months, may be renewed on an annual basis for an additional period of no more than twelve (12) months, and shall require the distribution of available cash flow to the Tenants in Common within sixty (60) days following
receipt of same. Pursuant to the Property Management Agreement, the Property Manager shall be the sole and exclusive manager of the Property to act as agent of the Tenants in Common with respect to the management and operation of the Property during
the term of the Property Management Agreement. Neither: (a) the removal, withdrawal, termination, or resignation of the Property Manager; (b) any assignment for the benefit of creditors by or the adjudication of bankruptcy or incompetency
of the Property Manager; nor (c) the termination of the Property Management Agreement, shall cause the termination of this Agreement and this Agreement shall remain in full force and effect notwithstanding any such events. The approval of each
Tenant in Common shall be required to approve: (i) any renewal or extension of the Property Management Agreement or any replacement agreement; and (ii) the hiring of any replacement property manager and the terms of any agreement governing
the same. 
 2.2 Authority of the Tenants in Common. The unanimous approval, consent, or other action by the Tenants
in Common is required with respect to any actions taken with respect to the Property, including without limitation: (a) the sale or other disposition of all or a portion of the Property: (b) the leasing or
re-leasing of all or a portion of the Property; (c) the creation or modification of a blanket lien on the Property as security for an indebtedness; (d) any renewal or extension of the Property
Management Agreement or any replacement agreement; and (e) the hiring of any replacement property manager and the terms of any property management agreement governing same. Whenever in this Agreement the consent or approval of the Tenants in
Common is required or otherwise requested, the Tenants in Common shall have five (5) days after the date the request for consent or approval is submitted to approve or disapprove of the matter (unless a longer or shorter period for response is
specifically provided for herein). The Tenants in Common agree to use their best efforts to respond to any request for consent or approval. If a Tenant in Common does not disapprove of such matter within such five (5) day period (or such longer
or shorter period expressly provided for herein), the Tenant in Common shall be deemed to have approved the matter. 
 3. Income and
Expenses. Except as otherwise provided herein, all benefits and obligations of the ownership of the Property, including, without limitation, income, revenue, operating expenses, proceeds from sale or refinance, or condemnation awards shall
be shared by the Tenants in Common in proportion to their respective undivided interests in the Property. Without limiting the generality of the foregoing: (a) the Tenants in Common shall receive all cash from operations of the Property after
payment of expenses, in proportion to their respective undivided interests in the Property, except for such amounts as may be determined by the Tenants in Common to be retained for reserves or improvements; and (b) taxes shall be paid by each
Tenant in Common in proportion to their respective undivided interests. 

  
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 4. Obligations. The Tenants in Common each agree to perform such acts as may
be reasonably necessary to carry out the terms and conditions of this Agreement, including, without limitation: 
 4.1
Documents. Executing documents required in connection with a sale or refinancing of the Property in accordance with Section 5 below and such additional documents as may be required under this Agreement or may be reasonably
required to effect the intent of the Tenants in Common with respect to the Property or any loans encumbering the Property. 

4.2 Additional Funds. Each Tenant in Common will be responsible for a pro rata share (based on its undivided
interest or as otherwise provided) with respect to taxes, any management fee, or other items specifically applicable to the Property, or any future cash needed in connection with the ownership, operation, management, and maintenance of the Property
as determined by the Property Manager pursuant to the Property Management Agreement. To the extent any Tenant in Common fails to pay any funds pursuant to this Section 4.2 within five (5) days after the Property Manager delivers notice
that such additional funds are required, the other Tenant in Common may advance such amount. In no event shall such advance remain outstanding by the nonpaying Tenant in Common for a period exceeding ten (10) days. The nonpaying Tenant in
Common shall reimburse the paying Tenant in Common, upon demand, the amount of any such advance plus interest thereon at the rate of eight percent (8%) per annum (but not more than the maximum rate allowed by law) until paid. In addition, the
Property Manager is hereby authorized to pay the Tenant in Common entitled to reimbursement and interest the amounts due out of future cash from operations or from a sale or refinancing of the Property or other distributions pursuant to the Property
Management Agreement. The remedies against a nonpaying Tenant in Common provided for herein are in addition to any other remedies that may otherwise be available, including, but not limited to, the right to obtain a lien against the undivided
interest in the Property of the nonpaying Tenant in Common to the extent allowed by law. Notwithstanding the preceding provisions, however, it is expressly understood and agreed that all such rights to, or to obtain, reimbursement are subject and
subordinate in all respects to the rights of the Lender and any other lender with an Approved Loan. 
 5. Sale or Encumbrance of
Property. 
 5.1 Approval Required. Any loan encumbering the Property or any sale of the Property shall
be subject to unanimous approval by the Tenants in Common, which approval shall be communicated by written response to a written request for approval. For purposes hereof, a loan encumbering the Property which has been approved by the Tenants in
Common in accordance with the foregoing, including but not limited to the Loan, shall be referred to as an “Approved Loan.” 

  
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 5.2 Distribution of Proceeds. Notwithstanding any other
provisions of this Agreement, proceeds of any sale or financing shall be distributed at the closing of the sale or finance as set forth below. 

(a) To the extent necessary, the proceeds shall first be used to pay in full any loans encumbering title to the Property. 

(b) The proceeds shall next be used to pay all outstanding costs and expenses incurred in connection with the holding,
marketing, sale, or financing of the Property. 
 (c) Any proceeds remaining after payment of the items set forth in this
Section 5.2 shall be paid as provided in Section 3. 
 6. Possession. The Tenants in Common intend to own and/or
lease the Property strictly for investment purposes at all times. No Tenant in Common shall have the right to occupy or use the Property at any time during the term of this Agreement. 

7. Transfer or Encumbrance. 

7.1 Transfer Restrictions. Subject to compliance with the terms of this Agreement, including, without limitation,
the terms of Section 10 hereof, applicable securities laws and compliance with the terms of the Loan and the Loan Documents, each Tenant in Common may sell, transfer, convey, pledge, encumber, or hypothecate its Interest in the Property or any
part thereof (each a “Transfer”), provided that any transferee shall take such Interest subject to this Agreement, and the transferor and transferee shall execute an assignment and assumption agreement (“Assumption
Agreement”) whereby: (a) the transferor assigns to the transferee all of its right, title, and interest in and to this Agreement; and (b) the transferee assumes and agrees to perform faithfully and be bound by all of the terms,
covenants, conditions, provisions, and agreements of this Agreement with respect to the undivided Interest to be transferred. Upon the execution and recordation of such Assumption Agreement, the transferor shall be relieved of all liability under
this Agreement accruing after the date of recordation of the Assumption Agreement, except for those arising from events occurring prior to the date of the Assumption Agreement, and the transferee shall become a party to this Agreement without
requiring any further action by any other Tenant in Common. Each Tenant in Common shall be responsible for compliance with applicable securities laws with respect to any sale or Transfer of its Interest in the Property. Notwithstanding the
foregoing, for so long as an Approved Loan is encumbering the Property, a Tenant in Common shall have no right to Transfer any portion of its Interest in the Property, without the prior written consent of the lender under the Approved Loan or as
otherwise expressly provided in the Approved Loan. 

  
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 7.2 Call Option. At any time after the second year anniversary
of the Effective Date GIPIL, may, at its election, require Sunny Ridge to sell all of its Interest to GIPIL. Sunny Ridge shall take all actions as may be reasonably necessary to consummate the sale contemplated by this Section 7.2, including,
without limitation, entering into agreements and delivering certificates and instruments as may be deemed necessary or appropriate. The purchase price for Sunny Ridge’s Interest under this Section 7.2 shall be $1,200,000, which each of
Sunny Ridge and GIPIL acknowledge is the fair market value of such interest. 
 8. Partition. 

8.1 Right of Partition. The Tenants in Common agree that any Tenant in Common and any of its Successors (as
defined below) shall have the right, while this Agreement remains in effect, to have the Property partitioned, and to file a complaint or institute any proceeding at law or in equity to have the Property partitioned in accordance with and to the
extent provided by applicable law and to the extent permitted by the Lender. The Tenants in Common acknowledge that partition of the Property may result in a forced sale by all of the Tenants in Common. To avoid the inequity of a forced sale and the
potential adverse effect on the investment by the Tenants in Common, the Tenants in Common agree that, as a condition precedent to filing a partition action, the Tenant in Common filing such action (each, a “Selling Tenant”) shall
first make a written offer (“Offer”) to sell its Interest to the other Tenant in Common (for the purpose of this Section 8, the “Purchasing Tenant”) at a price equal to: (a) the Fair Market Value (as
defined below) of the Selling Tenant’s Interest in the Property minus (b): (i) the Selling Tenant’s proportionate share of any fee or other amount that would be payable to any third party (including any real estate commission) upon the
sale of the Property at a price equal to the Fair Market Value; and (ii) selling, prepayment, or other costs that would apply in the event the Property was sold on the date of the Offer. 

8.2 Fair Market Value. “Fair Market Value” shall mean the fair market value of the Selling
Tenant’s undivided Interest in the Property on the date the Offer is made as determined in accordance with the procedures set forth below. The Purchasing Tenant shall have ten (10) days after delivery of the Offer to accept the Offer. If
the Purchasing Tenant accepts the Offer, the Selling Tenant and the Purchasing Tenant shall commence negotiation of the Fair Market Value within five (5) days after the Offer is accepted. If the parties do not agree on the Fair Market Value,
after good faith negotiations, within ten (10) days, then each party shall submit to the other a proposal (“Proposal”) containing the Fair Market Value the submitting party believes to be correct. If either party fails timely
to submit a Proposal, the other party’s submitted Proposal shall determine the Fair Market Value. If both parties timely submit Proposals, then the Fair Market Value shall be determined in accordance with the procedures set forth below. The
parties shall meet within five (5) days after delivery of the last Proposal and mutually appoint an independent certified real estate appraiser. The decision of the appraiser shall be made within thirty (30) days after the appointment of
the appraiser. The cost of the appraiser shall be paid equally by the Selling Tenant and the Purchasing Tenant. The closing of the purchase of the Selling Tenant’s Interest shall occur at the offices of a mutually agreeable title company where
the Property is located within ten (10) days after the date on which Fair Market Value is determined, whether by agreement or appraisal. Closing costs and prorations shall be allocated as is customary practice where the Property is located.

  
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 9. Bankruptcy Option. 

9.1 Option. If, during the term of this Agreement, a Tenant in Common is “Bankrupt” (as defined
below) (a “Bankrupt Tenant in Common”), the other Tenant in Common shall have the right, to be exercised by written notice (“Bankruptcy Call Notice”) to the Bankrupt Tenant in Common, to buy all of the Bankrupt
Tenant in Common’s Interest in the Property. Upon receipt of the Bankruptcy Call Notice, the Bankrupt Tenant in Common shall be obligated to sell to the other Tenant in Common, and the other Tenant in Common shall be obligated to buy the
Bankrupt Tenant in Common’s entire Interest in the Property for the Fair Market Value of the Bankrupt Tenant in Common’s Interest in the Property, as Fair Market Value is determined under Section 8 above. Such purchase and sale shall
be closed within ten (10) days following the determination of Fair Market Value. The foregoing notwithstanding, if the applicable bankruptcy court or applicable bankruptcy rules require that the Fair Market Value of the Bankrupt Tenant in
Common’s Interest in the Property be determined through an alternate valuation method, the parties may agree that such alternate valuation method shall be used to determine the Fair Market Value of the Property that is subject to such
court’s jurisdiction in lieu of the procedure established in Section 8, as required by such court or the applicable rules. In addition, any such bankruptcy or other insolvency proceeding will constitute an event of default under this
Agreement. 
 9.2 Bankruptcy. For the purposes of this Agreement, a Tenant in Common shall be considered
Bankrupt if such Tenant in Common: (a) is unable to pay its debts as they come due, including any debt associated with the Property; (b) admits in writing to its inability to pay debts as they come due, including any debt associated with
the Property; (c) makes a general assignment for the benefit of creditors; (d) files any petition or answer seeking to adjudicate it bankrupt or insolvent; (e) seeks liquidation, winding up, reorganization, arrangement, adjustment,
protection, relief, or composition of its debts; (f) seeks, consents to, or acquiesces in the entry of an order for relief or the appointment of a receiver, trustee, custodian, or other similar official or for any substantial part of its
property; (g) is the subject of the entry of an order for relief or approval of a petition for relief or reorganization, arrangement, composition, readjustment, liquidation, dissolution, or similar relief under any present or future bankruptcy,
insolvency, or similar statue, law, or regulation or the filing of any such petition that is not dismissed within ninety (90) days; or (h) is the subject of the entry of an order appointing a trustee, custodian, receiver, or liquidator
with respect to all or any substantial portion of its property, which order is not dismissed within sixty (60) days. 

9.3 Right of First Refusal. If under federal bankruptcy law, similar debtor relief laws, or other laws affecting
the Property, the option to purchase granted under this Section 9 is voided or declared unenforceable, the other Tenant in Common shall have a right of first refusal to buy any Interest in the Property of a Bankrupt Tenant in Common in the
event of any proposed transfer by a trustee, receiver, conservator, liquidator, guardian, or other transferor. Such right of first refusal shall provide that the other Tenant in Common may buy the Bankrupt Tenant in Common’s Interest in the
Property at the same price and on the same terms as such Interest in the Property is proposed to be sold by such trustee, receiver, conservator, liquidator, guardian, or other transferor. The rights contained in this Section 9 shall be subject
and subordinate to the rights of the Lender and any other lender with an Approved Loan with respect to the Interest in the Property. 

  
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 9.4 No Voting Rights. If any Tenant in Common shall
voluntarily or involuntarily be declared bankrupt, then the voting and approval rights of that Tenant in Common shall immediately cease. It is the intention of the Tenants in Common that only the beneficial interest of the Bankrupt Tenant in Common
will be vested in the successor Tenant in Common and the consequences of any bankruptcy will not interfere with the operations of the Property. 

10. Right of First Offer. If a Tenant in Common desires to sell its Interest in the Property or Transfer its Interest in the
Property pursuant to Section 7 (the “Selling Tenant”), then as a condition precedent to such sale or Transfer, the Selling Tenant shall first offer to sell or Transfer its Interest in the Property to the other Tenant in Common
(“Offeree”) in writing (“Selling Tenant Notice”), which Selling Tenant Notice shall specify: (a) if the Selling Tenant intends to sell or Transfer all or a portion of its Interest in the Property; and
(b) the material terms and conditions, including the price, pursuant to which the Selling Tenant proposes to sell or Transfer its Interest in the Property. The Offeree shall have the right, within ten (10) days after receipt of such
Selling Tenant Notice (the “ROFO Purchase Offer Period”), to deliver a written offer (“Purchase Offer”) to the Selling Tenant to purchase the Selling Tenant’s Interest in the Property. If Offeree fails to
deliver a Purchase Offer to the Selling Tenant within the ROFO Purchase Offer Period, then the Selling Tenant shall be free to either sell or Transfer its Interest in the Property to a bona fide third party other than Offeree, provided that such
sale or Transfer: (i) shall be on the exact same terms and at the exact same price as stated in Selling Tenant Notice; (ii) is in compliance with the terms of the Loan and any other Approved Loan; and (iii) is consummated within sixty
(60) days following the expiration of the ROFO Purchase Offer Period. If the Selling Tenant does not sell or Transfer its Interest in the Property within such period, the right provided hereunder shall be deemed to be revived and the Selling
Tenant shall not offer its Interest in the Property to any third-party unless first re-offered to Offeree in accordance with this Section 10. The rights contained herein shall be subject and subordinate
in all respects to the rights of the Lender and any other lender with an Approved Loan in the Property. 
 11. General
Provisions. 
 11.1 Mutuality, Reciprocity, Runs with the Land. All provisions, conditions, covenants,
restrictions, obligations, and agreements contained herein are made for the direct, mutual, and reciprocal benefit of each and every part of the Property; shall be binding upon and shall inure to the benefit of each of the Tenants in Common and
their respective heirs, executors, administrators, successors, assigns, devisees, representatives, lessees, and all other persons acquiring any undivided interest in the Property or any portion thereof whether by operation of law or any manner
whatsoever (collectively, “Successors”); shall create mutual, equitable servitudes and burdens upon the undivided interest in the Property of each Tenant in Common in favor of the interest of every other Tenant in Common; shall
create reciprocal rights and obligations between the respective Tenants in Common, their interests in the Property, and their Successors; and shall, as to each of the Tenants in Common and their Successors, operate as covenants running with the
land, for the benefit of the other Tenant in Common pursuant to applicable law. It is expressly agreed that each covenant contained herein: (a) is for the benefit of and is a burden upon the undivided interests in the Property of each of the
Tenants in Common; (b) runs with the undivided interest in the Property of each Tenant in Common; and (c) benefits and is binding upon each Successor owner during its ownership of any undivided interest in the Property, and each owner
having any interest therein 

  
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derived in any manner through any Tenant in Common or Successor. Every person or entity who now or hereafter owns or acquires any right, title, or interest in or to any portion of the Property is
and shall be conclusively deemed to have consented and agreed to every restriction, provision, covenant, right, and limitation contained herein, whether or not such person or entity expressly assumes such obligations or whether or not any reference
to this Agreement is contained in the instrument conveying such interest in the Property to such person or entity. The Tenants in Common agree that, subject to the terms and conditions of this Agreement, any Successor shall become a party to this
Agreement upon acquisition of an undivided interest in the Property as if such person was a Tenant in Common initially executing this Agreement. 

11.2 Attorneys’ Fees. If any arbitration, action, or proceeding is instituted between the Tenants in Common
arising from or related to this Agreement, the Tenant in Common prevailing in such arbitration, action, or proceeding shall be entitled to recover from the other Tenant in Common all of its or their costs of arbitration, action, or proceeding,
including, without limitation, attorneys’ fees and costs as fixed by the court or arbitrator therein. 
 11.3
Entire Agreement. This Agreement constitutes the entire agreement between the parties hereto pertaining to the subject matter hereof and all prior and contemporaneous agreements, representations, negotiations, and understandings of the
parties hereto, oral or written, are hereby superseded and merged herein. 
 11.4 Governing Law. This Agreement
shall be governed by and construed under the internal laws of the state of Delaware without regard to choice of law rules. Any dispute arising under this Agreement shall be brought in the state and federal courts located in Hillsborough County,
Florida, and the parties agree that such courts shall have exclusive jurisdiction with respect to such matters. 
 11.5
Amendment and Modification. No modification, waiver, amendment, discharge, or change of this Agreement shall be valid unless the same is in writing and signed by all parties to this Agreement. 

11.6 Notices. Unless specifically stated otherwise in this Agreement, all notices, waivers, and demands required
or permitted hereunder shall be in writing and delivered to the addresses set forth below, by one of the following methods: 

(a) hand delivery, whereby delivery is deemed to have occurred at the time of delivery; 

(b) a nationally recognized overnight courier company, whereby delivery is deemed to have occurred the Business Day (as defined
below) following deposit with the courier; 

  
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 (c) registered United States Mail, signature required and postage-prepaid,
whereby delivery is deemed to have occurred on the third Business Day following deposit with the United States Postal Service; or 

(d) electronic transmission (facsimile or email) provided that the transmission is completed no later than 5:00 p.m. E.T. on a
Business Day and the original also is sent via overnight courier or United States Mail, whereby delivery is deemed to have occurred at the end of the Business Day on which electronic transmission is completed. 

 

			
	 To GIPIL
	  	 Attn: David E. Sobelman, President
 401 E.
Jackson Street, Suite 3300
 Tampa, FL 33602

		
	 To Sunny Ridge:
	  	 Sunnyridge MHP, LLC
 Attn: Richard
Hornstrom & Pete Biehayn
 2900 W Julia St unit 702

Tampa FL 33629

 Any party may change its address for purposes of this Section 11.6 by giving written notice as provided in this
Section 11.6. All notices and demands delivered by a party’s attorney on a party’s behalf shall be deemed to have been delivered by said party. Notices shall be valid only if served in the manner provided in this Section 11.6. As
used herein, the term “Business Day” shall mean any day other than a Saturday, Sunday, or a legal holiday on which national banks are not open for general business in the State of Delaware. 

11.7 Successors and Assigns. All provisions of this Agreement shall inure to the benefit of and shall be binding
upon the Successors, and legal representatives of the parties hereto. 
 11.8 Term. This Agreement shall
commence as of the date written above and shall terminate at such time as the Tenants in Common or their Successors no longer own the Property as tenants in common or otherwise agree to dissolve the tenancy in common. The bankruptcy, death,
dissolution, liquidation, termination, incapacity, or incompetency of a Tenant in Common shall not cause the termination of this Agreement. 

11.9 Waivers. Any waiver of any provision or of any breach of this Agreement shall be in writing and signed by
the party waiving said provision or breach. No waiver of any breach of any agreement or provision herein contained shall be deemed a waiver of any preceding or succeeding breach thereof or of any other agreement or provision herein contained. No
extension of time for performance of any obligations or acts shall be deemed an extension of the time for performance of any other obligations or acts. 

  
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 11.10 Counterparts. This Agreement may be executed in
counterparts, each of which, when taken together, shall be deemed one fully-executed original. 
 11.11
Severability. If any portion of this Agreement shall become illegal, null or void, or against public policy, for any reason, or shall be held by any court of competent jurisdiction to be illegal, null or void, or against public policy,
the remaining portions of this Agreement shall not be affected thereby and shall remain in full force and effect to the fullest extent permissible by law. 

11.12 Further Assurances. From the Effective Date, each Tenant in Common agrees to do such things, perform such
acts, and make, execute, acknowledge, and deliver such documents as may be reasonably necessary and customary to complete the transactions contemplated by this Agreement. 

11.13 Time is of the Essence. Time is of the essence of each and every provision of this Agreement. 

11.14 Memorandum of Agreement. Concurrently with the execution of this Agreement, the parties shall execute a
Memorandum of Agreement in the form attached hereto as Exhibit C (“Memorandum of Agreement”). Within five (5) days after the Effective Date, the parties shall cause the Memorandum of Agreement to be recorded in the
County where the Property is located. 
 11.15 Reserved for Any Lender Required Provisions. 

[signature page follows] 

  
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 IN WITNESS WHEREOF, the parties have caused this Agreement to be executed effective as of the date first
written above. 
  

			
	GIPIL 525 S PERRYVILLE RD, LLC, a DELAWARE LIMITED LIABILITY COMPANY
		
	By:	 	 /s/ David E. Sobelman

	Name:	 	David E. Sobelman
	Title:	 	Authorized Representative
	
	SUNNY RIDGE MHP, LLC a FLORIDA LIMITED LIABILITY COMPANY
		
	By:	 	 /s/ Richard N. Hornstrom

	Name:	 	Richard N. Hornstrom
	Title:	 	MMGR

 EXHIBIT A 

PERCENTAGE INTERESTS 
  

					
	 TENANT IN COMMON
	  	PERCENTAGE UNDIVIDED INTEREST	 
	 GIPIL 525 S PERRYVILLE RD, LLC
	  	 	36.84	% 
	 SUNNY RIDGE MHP, LLC
	  	 	63.16	% 

 EXHIBIT B 

PROPERTY 
 PARCEL A: 

LOT 2 AS DESIGNATED UPON THE PLAT OF WILLIAMS MANNY SUBDIVISION OF PART OF THE EAST HALF OF THE NORTHEAST QUARTER OF SECTION 27, TOWNSHIP 44 NORTH, RANGE 2
EAST OF THE THIRD PRINCIPAL MERIDIAN, THE PLAT OF WHICH SUBDIVISION IS RECORDED IN BOOK 40 OF PLATS ON PAGE 27A IN THE RECORDER’S OFFICE OF WINNEBAGO COUNTY, ILLINOIS. 

PARCEL B: 
 A
NON-EXCLUSIVE EASEMENT FOR INGRESS AND EGRESS AS SET FORTH IN EASEMENT AGREEMENT DATED DECEMBER 5, 2012 BY AND BETWEEN FIRST ROCKFORD GROUP, INC., 555 REAL ESTATE, L.L.C. AND LABRADOR GROUP, L.L.C.,
RECORDED MARCH 20, 2013 AS DOCUMENT NO. 20131011893. 
 Address: 525 South Perryville Road, Rockford, Illinois 

Permanent Index Number 12-27-226-009

 EXHIBIT C 

MEMORANDUM OF AGREEMENTEX-10.45

 Exhibit 10.45 

LIMITED RECOURSE GUARANTY 

(David E. Sobelman) 

This LIMITED RECOURSE GUARANTY (this “Guaranty”) is executed as of August 13, 2021, by DAVID E.
SOBELMAN, an individual (“Guarantor”) in favor of and for the benefit of AMERICAN MOMENTUM BANK (together with its successors and/or assigns, “Lender”). 

WITNESSETH: 
 A. Pursuant
to that certain Promissory Note dated of even date herewith, executed by GIPIL 525 S PERRYVILLE RD, LLC, a Delaware limited liability company, and, SUNNY RIDGE MHP LLC, a Florida limited liability company (collectively, “Borrower”),
and payable to the order of Lender in the original principal amount of TWO MILLION SEVEN HUNDRED FIFTEEN THOUSAND AND NO/100 DOLLARS ($2,715,000.00) (together with all renewals, modifications, increases and extensions thereof, the
“Note”), Borrower has become indebted, and may from time to time be further indebted, to Lender with respect to a loan (the “Loan”) which is made pursuant to that certain Loan Agreement dated of even
date herewith, between Borrower and Lender (as the same may be amended, modified, supplemented, replaced or otherwise modified from time to time, the “Loan Agreement”). The Note is secured by that certain first priority
Mortgage, Assignment of Leases and Rents and Security Agreement (the “Mortgage”), in favor of Lender made by Borrower. Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to such terms in
the Loan Agreement. 
 B. Lender is not willing to make the Loan, or otherwise extend credit, to Borrower unless Guarantor guarantees the
payment and performance to Lender of the Guaranteed Obligations (as herein defined), on the terms herein. 
 C. Guarantor is an owner of
direct or indirect interests in Borrower and will directly benefit from Lender making the Loan to Borrower. 
 NOW, THEREFORE, as an
inducement to Lender to make the Loan to Borrower and to extend such additional credit as Lender may from time to time agree to extend under any of the documents which evidence and/or secure the Loan (collectively, the “Loan
Documents”), and for other good and valuable consideration, the receipt and legal sufficiency of which are hereby acknowledged, the parties do hereby agree as follows: 

ARTICLE 1 
 NATURE AND
SCOPE OF GUARANTY 
 Section 1.1 Guaranty of Obligation. 

(a) Guarantor hereby irrevocably guarantees to Lender and its successors and assigns the payment and performance of the Guaranteed Obligations
(as defined below) as and when the same shall be due and payable, whether by lapse of time, by acceleration of maturity or otherwise. Guarantor hereby irrevocably and unconditionally covenants and agrees that it is liable for the Guaranteed
Obligations as a primary obligor, but only in the event of the occurrence of a Borrower’s Recourse Event, as defined herein. 

 (b) As used herein, the term “Guaranteed Obligations” means payment
and performance of the Obligations equal to any loss or damage suffered by Lender as a result of the occurrence of any of Borrower’s Recourse Events (as hereinafter defined). 

(c) As used herein the term “Obligations” means (i) the full and prompt payment when due, whether by acceleration
or otherwise, and at all times thereafter, of all obligations of Borrower to Lender under the Note, (ii) the performance of all obligations of the Borrower under the terms and provisions of the Loan Agreement, and (iii) the performance of
all obligations of Borrower under the terms and provisions of the Loan Documents. 
 (d) As used herein the term “Bankruptcy
Code” means Title 11 of the United States Code entitled “Bankruptcy”, as amended from time to time, and any successor statute or statutes and all rules and regulations from time to time promulgated thereunder, and any
comparable foreign laws relating to bankruptcy, insolvency or creditors’ rights. 
 (e) For purposes hereof, “Borrower’s
Recourse Events” shall mean 
  

	 	i.	 fraud, willful misconduct, intentional misrepresentation or failure to disclose a material fact by or on behalf
of Borrower or Guarantor, in connection with the Loan, including by reason of any claim under the Racketeer Influenced and Corrupt Organizations Act (RICO); 

  

	 	ii.	 wrongful removal or destruction of any portion of the Premises (as defined in the Loan Agreement) or damage to
the Premises caused by willful misconduct or gross negligence of Borrower or Guarantor; 

  

	 	iii.	 any physical and intentional waste of the Premises caused by the actions and/or inactions of Borrower and/or
Guarantor; 

  

	 	iv.	 the forfeiture by Borrower of the Premises, or any portion thereof, because of the conduct of criminal activity
by Borrower or Guarantor; 

  

	 	v.	 the misappropriation or conversion in violation of the Loan Documents by or on behalf of Borrower of
(A) any insurance proceeds paid by reason of any loss, damage or destruction to the Premises, (B) any Awards or other amounts received in connection with the condemnation of all or a portion of the Premises, or (C) any rental amounts
or deposits relative to the Premises or (D) any other funds due under the Loan Documents; 

  

	 	vi.	 failure to pay charges for labor or materials or other charges that create a lien on any portion of the
Premises, to the extend such lien is not bonded or discharged within one hundred twenty (120) days after filing; 

  
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	 	vii.	 failure of Borrower to pay to Lender upon demand after a Default (as defined in the Loan Agreement) all rents
to which Lender is entitled under the Loan Documents and the amount of all security deposits collected by Borrower from income from the Premises, if any; 

  

	 	viii.	 failure to pay real estate taxes or transfer taxes applicable to the Premises to the extent there is available
cash flow from the Premises to pay for the same; and/or 

  

	 	ix.	 failure to obtain and maintain the necessary insurance required pursuant to the Loan Agreement.

 Section 1.2 Nature of Guaranty. This Guaranty is an irrevocable, absolute, continuing
guaranty of payment and performance and not a guaranty of collection. This Guaranty may not be revoked by Guarantor and shall continue to be effective with respect to any Guaranteed Obligations arising or created after any attempted revocation by
Guarantor and after (if such Guarantor is a natural person) such Guarantor’s death (in which event this Guaranty shall be binding upon such Guarantor’s estate and such Guarantor’s legal representatives and heirs). The fact that at any
time or from time to time the Guaranteed Obligations may be increased or reduced shall not release or discharge the obligation of Guarantor to Lender with respect to the Guaranteed Obligations. This Guaranty may be enforced by Lender and any
subsequent holder of the Note and shall not be discharged by the assignment or negotiation of all or part of the Note. 

Section 1.3 Guaranteed Obligations Not Reduced by Offset. The Guaranteed Obligations and the liabilities and
obligations of Guarantor to Lender hereunder shall not be reduced, discharged or released because or by reason of any existing or future offset, claim or defense of Borrower or any other party against Lender or against payment of the Guaranteed
Obligations, whether such offset, claim or defense arises in connection with the Guaranteed Obligations (or the transactions creating the Guaranteed Obligations) or otherwise. 

Section 1.4 Payment By Guarantor. If all or any part of the Guaranteed Obligations is or shall give rise to a
monetary obligation, and such monetary obligation shall not be punctually paid when due, whether at demand, maturity, acceleration or otherwise, Guarantor shall, immediately upon demand by Lender and without presentment, protest, notice of protest,
notice of non-payment, notice of intention to accelerate the maturity, notice of acceleration of the maturity or any other notice whatsoever, all such notices being hereby waived by Guarantor, pay in lawful
money of the United States of America, the amount due on the Guaranteed Obligations to Lender at Lender’s address as set forth herein. Such demand(s) may be made at any time coincident with or after the time for payment of all or part of the
Guaranteed Obligations and may be made from time to time with respect to the same or different items of Guaranteed Obligations. Such demand shall be deemed made, given and received in accordance with the notice provisions hereof. 

  
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 Section 1.5 No Duty To Pursue Others. It shall not be necessary
for Lender (and Guarantor hereby waives any rights which such Guarantor may have to require Lender), in order to enforce the obligations of Guarantor hereunder, first to (i) institute suit or exhaust its remedies against Borrower or others
liable on the Loan or the Guaranteed Obligations or any other person/entity, (ii) enforce Lender’s rights against any collateral which shall ever have been given to secure the Loan, (iii) enforce Lender’s rights against any other
guarantors of the Guaranteed Obligations, (iv) join Borrower or any others liable on the Guaranteed Obligations in any action seeking to enforce this Guaranty, (v) exhaust any remedies available to Lender against any collateral which shall
ever have been given to secure the Loan, or (vi) resort to any other means of obtaining payment of the Guaranteed Obligations. Lender shall not be required to mitigate damages or take any other action to reduce, collect or enforce the
Guaranteed Obligations. 
 Section 1.6 Waivers. Guarantor agrees to the provisions of the Loan Documents and
hereby waives notice of (i) any loans or advances made by Lender to Borrower, (ii) acceptance of this Guaranty, (iii) any amendment or extension of the Note, the Mortgage, the Loan Agreement or any other Loan Document, (iv) the
execution and delivery by Borrower and Lender of any other loan or credit agreement or of Borrower’s execution and delivery of any promissory note or other document arising under the Loan Documents or in connection with the Premises,
(v) the occurrence of (A) any breach by Borrower of any of the terms or conditions of the Loan Agreement or any of the other Loan Documents, or (B) a Default, (vi) Lender’s transfer or disposition of the
Guaranteed Obligations, or any part thereof, (vii) the sale or foreclosure (or the posting or advertising for the sale or foreclosure) of any collateral for the Guaranteed Obligations, (viii) protest, proof of non-payment or default by Borrower, or (ix) any other action at any time taken or omitted by Lender and, generally, all demands and notices of every kind in connection with this Guaranty, the Loan Documents,
any documents or agreements evidencing, securing or relating to any of the Guaranteed Obligations and/or the obligations hereby guaranteed. 

Section 1.7 Payment of Expenses. In the event that Guarantor shall breach or fail to timely perform any provisions
of this Guaranty, Guarantor shall, immediately upon demand by Lender, pay Lender all costs and expenses (including court costs and reasonable attorneys’ fees) incurred by Lender in the enforcement hereof or the preservation of Lender’s
rights hereunder, together with interest thereon at the Default Rate from the date requested by Lender until the date of payment to Lender. 

Section 1.8 Effect of Bankruptcy. In the event that pursuant to any insolvency, bankruptcy, reorganization,
receivership or other debtor relief law or any judgment, order or decision thereunder, Lender must rescind or restore any payment or any part thereof received by Lender in satisfaction of the Guaranteed Obligations, as set forth herein, any prior
release or discharge from the terms of this Guaranty given to Guarantor by Lender shall be without effect and this Guaranty shall remain (or shall be reinstated to be) in full force and effect. It is the intention of Borrower and Guarantor that
Guarantor’s obligations hereunder shall not be discharged except by Guarantor’s performance of such obligations and then only to the extent of such performance. For purposes hereof, the “Bankruptcy Code” shall mean
Title 11 of the Unites States Code entitled “Bankruptcy”, as amended from time to time, and any successor statue or statues and all rules and regulations from time to time promulgated thereunder. 

Section 1.9 Waiver of Subrogation, Reimbursement and Contribution. Notwithstanding anything to the contrary
contained in this Guaranty, Guarantor hereby unconditionally and irrevocably waives, releases and abrogates any and all rights it may now or hereafter have under any agreement, at law or in equity (including, without limitation, any law subrogating
Guarantor to the rights of Lender), to assert any claim against or seek contribution, indemnification or any other form of reimbursement from Borrower or any other party liable for the payment of any or all of the Guaranteed Obligations for any
payment made by Guarantor under or in connection with this Guaranty or otherwise. 

  
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 ARTICLE 2 

EVENTS AND CIRCUMSTANCES NOT REDUCING 

OR DISCHARGING GUARANTOR’S OBLIGATIONS 

Guarantor hereby consents and agrees to each of the following and agrees that such Guarantor’s obligations under this Guaranty shall not
be released, diminished, impaired, reduced or adversely affected by any of the following and waives, to the extent permitted by applicable law, any common law, equitable, statutory or other rights (including, without limitation, rights to notice)
which such Guarantor might otherwise have as a result of or in connection with any of the following: 
 Section 2.1
Modifications. Any renewal, extension, increase, modification, alteration or rearrangement of all or any part of the Note, the Mortgage, the Loan Agreement, the other Loan Documents or any other document, instrument, contract or understanding
between Borrower and Lender or any other parties pertaining to the Guaranteed Obligations or any failure of Lender to notify Guarantor of any such action. 

Section 2.2 Adjustment. Any adjustment, indulgence, forbearance or compromise that might be granted or given by
Lender to Borrower or Guarantor (or any other guarantor of the obligations of Borrower). 
 Section 2.3 Condition
of Borrower or Guarantor. The insolvency, bankruptcy, arrangement, adjustment, composition, liquidation, disability, dissolution or lack of power of Borrower, Guarantor or any other person/entity at any time liable for the payment of all or part of
the Guaranteed Obligations; or any dissolution of Borrower or Guarantor or any sale, lease or transfer of any or all of the assets of Borrower or Guarantor or any changes in the direct or indirect shareholders, partners or members, as applicable, of
Borrower or Guarantor; or any reorganization of Borrower or Guarantor. 
 Section 2.4 Invalidity of Guaranteed
Obligations. The invalidity, illegality or unenforceability of all or any part of the Guaranteed Obligations or any document or agreement executed in connection with the Guaranteed Obligations for any reason whatsoever, including, without
limitation, the fact that (i) the Guaranteed Obligations or any part thereof exceeds the amount permitted by law, (ii) the act of creating the Guaranteed Obligations or any part thereof is ultra vires, (iii) the officers or
representatives executing the Note, the Mortgage, the Loan Agreement or the other Loan Documents or otherwise creating the Guaranteed Obligations acted in excess of their authority, (iv) the Guaranteed Obligations violate applicable usury laws,
(v) Borrower has valid defenses, claims or offsets (whether at law, in equity or by agreement) which render the Guaranteed Obligations wholly or partially uncollectible from Borrower, (vi) the creation, performance or repayment of the
Guaranteed Obligations (or the execution, delivery and performance of any document or instrument representing part of the Guaranteed Obligations or executed in connection with the Guaranteed Obligations or given to secure the repayment of the
Guaranteed Obligations) is illegal, uncollectible or unenforceable, or (vii) the Note, the Mortgage, the Loan Agreement or any of the other Loan Documents have been forged or otherwise are irregular or not genuine or authentic, it being agreed
that Guarantor shall remain liable hereon regardless of whether Borrower or any other person/entity be found not liable on the Guaranteed Obligations or any part thereof for any reason. 

  
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 Section 2.5 Release of Obligors. Any full or partial release of
the liability of Borrower for the Guaranteed Obligations or any part thereof, or of any co-guarantors, or of any other person/entity now or hereafter liable, whether directly or indirectly, jointly, severally,
or jointly and severally, to pay, perform, guarantee or assure the payment of the Guaranteed Obligations, or any part thereof, it being recognized, acknowledged and agreed by Guarantor that Guarantor may be required to pay the Guaranteed Obligations
in full without assistance or support from any other person/entity, and that Guarantor has not been induced to enter into this Guaranty on the basis of a contemplation, belief, understanding or agreement that other persons (including Borrower) will
be liable to pay or perform the Guaranteed Obligations or that Lender will look to other persons (including Borrower) to pay or perform the Guaranteed Obligations. 

Section 2.6 Other Collateral. The taking or accepting of any other security, collateral or guaranty, or other
assurance of payment, for all or any part of the Guaranteed Obligations. 
 Section 2.7 Release of Collateral. Any
release, surrender, exchange, subordination, deterioration, waste, loss or impairment (including, without limitation, negligent, willful, unreasonable or unjustifiable impairment) of any collateral, property or security at any time existing in
connection with, or assuring or securing payment of, all or any part of the Guaranteed Obligations. 
 Section 2.8
Care and Diligence. The failure of Lender or any other party to exercise diligence or reasonable care in the preservation, protection, enforcement, sale or other handling or treatment of all or any part of any collateral, property or security,
including, but not limited to, any neglect, delay, omission, failure or refusal of Lender (i) to take or prosecute any action for the collection of any of the Guaranteed Obligations, or (ii) to foreclose, or initiate any action to
foreclose, or, once commenced, prosecute to completion any action to foreclose upon any security therefor, or (iii) to take or prosecute any action in connection with any instrument or agreement evidencing or securing all or any part of the
Guaranteed Obligations. 
 Section 2.9 Unenforceability. The fact that any collateral, security, security interest
or lien contemplated or intended to be given, created or granted as security for the repayment of the Guaranteed Obligations, or any part thereof, shall not be properly perfected or created, or shall prove to be unenforceable or subordinate to any
other security interest or lien, it being recognized and agreed by Guarantor that Guarantor is not entering into this Guaranty in reliance on, or in contemplation of the benefits of, the validity, enforceability, collectability or value of any of
the collateral for the Guaranteed Obligations. 
 Section 2.10 Offset. Any existing or future right of offset,
claim or defense of Borrower against Lender, or any other party, or against payment of the Guaranteed Obligations, whether such right of offset, claim or defense arises in connection with the Guaranteed Obligations (or the transactions creating the
Guaranteed Obligations) or otherwise. 

  
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 Section 2.11 Merger. The reorganization, merger or consolidation of Borrower with any
other person/entity. 
 Section 2.12 Preference. Any payment by Borrower to Lender is held to constitute a preference under the
Bankruptcy Code or for any reason Lender is required to refund such payment or pay such amount to Borrower or to any other person/entity. 

Section 2.13 Other Actions Taken or Omitted. Any other action taken or omitted to be taken with respect to the Loan
Documents, the Guaranteed Obligations or the security and collateral therefor, whether or not such action or omission prejudices Guarantor or increases the likelihood that Guarantor will be required to pay the Guaranteed Obligations pursuant to the
terms hereof, it being the unambiguous and unequivocal intention of Guarantor that Guarantor shall be obligated to pay the Guaranteed Obligations when due, notwithstanding any occurrence, circumstance, event, action or omission whatsoever, whether
contemplated or uncontemplated, and whether or not otherwise or particularly described herein, which obligation shall be deemed satisfied only upon the full and final payment and satisfaction of the Loan. 

ARTICLE 3 

REPRESENTATIONS AND WARRANTIES 

To induce Lender to enter into the Loan Documents and to extend credit to Borrower, Guarantor represents and warrants to Lender as follows:

 Section 3.1 Benefit. Guarantor is the owner of a direct or indirect interest in Borrower and has received, or
will receive, direct or indirect benefit from the making of this Guaranty with respect to the Guaranteed Obligations. 

Section 3.2 Familiarity and Reliance. Guarantor is familiar with, and has independently reviewed books and records
regarding, the financial condition of Borrower and is familiar with the value of any and all collateral intended to be created as security for the payment of the Note or Guaranteed Obligations; however, such Guarantor is not relying on such
financial condition or the collateral as an inducement to enter into this Guaranty. 
 Section 3.3 No
Representation By Lender. Neither Lender nor any other party has made any representation, warranty or statement to Guarantor in order to induce such Guarantor to execute this Guaranty. 

Section 3.4 Guarantor’s Financial Condition. As of the date hereof, and after giving effect to this Guaranty
and the contingent obligation evidenced hereby, Guarantor (a) is solvent, (b) has assets which, fairly valued, exceed its obligations, liabilities (including contingent liabilities) and debts, and (c) has property and assets
sufficient to satisfy and repay its obligations and liabilities, including the Guaranteed Obligations. 
 Section 3.5
Proceedings; Enforceability. This Guaranty and the other Loan Documents to which Guarantor is a party have been duly authorized, executed and delivered by Guarantor and constitute a legal, valid and binding obligation of Guarantor, enforceable
against Guarantor in accordance with their respective terms, except as such enforcement may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement of

  
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creditors’ rights generally, and by general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law). Neither this Guaranty nor any
other Loan Document to which Guarantor is a party is subject to any right of rescission, set-off, counterclaim or defense by Guarantor, including the defense of usury, nor would the operation of any of the
terms of this Guaranty or such other Loan Documents, or the exercise of any right hereunder or thereunder, render this Guaranty or such other Loan Documents unenforceable, and Guarantor has not asserted any right of rescission, set-off, counterclaim or defense with respect thereto. 
 Section 3.6 Legality. The execution,
delivery and performance by Guarantor of this Guaranty and the other Loan Documents to which Guarantor is a party, and the consummation of the transactions contemplated hereunder and thereunder, do not and will not contravene or conflict with any
law, statute or regulation whatsoever to which Guarantor is subject, or constitute a default (or an event which, with notice or lapse of time or both, would constitute a default) under, or result in the breach of, any indenture, mortgage, charge,
lien, contract, agreement or other instrument to which Guarantor is a party or which may be applicable to Guarantor. 

Section 3.7 Consents. No consent, approval, authorization or order of any court or governmental authority is required for
the execution, delivery and performance by Guarantor of, or compliance by Guarantor with, this Guaranty or the other Loan Documents to which Guarantor is a party, or the consummation of the transactions contemplated hereby or thereby, other than
those which have been obtained by Guarantor. 
 Section 3.8 Litigation; Full and Accurate Disclosure. There is no
action, suit, proceeding or investigation pending or, to the best of Guarantor’s knowledge, threatened against Guarantor in any court or by or before any other governmental authority which, if adversely determined, might materially and
adversely affect the condition (financial or otherwise) or business of Guarantor (including the ability of Guarantor to carry out the obligations contemplated by this Guaranty). There is no material fact presently known to Guarantor which has not
been disclosed to Lender which adversely affects, nor as far as Guarantor can foresee, might adversely affect, the Premises, the business, operations or condition (financial or otherwise) of Borrower or Guarantor. 

Section 3.9 Survival. All representations and warranties made by Guarantor herein shall survive the execution
hereof. 
 ARTICLE 4 

SUBORDINATION OF CERTAIN INDEBTEDNESS 

Section 4.1 Subordination of All Guarantor Claims. As used herein, the term “Guarantor Claims”
shall mean all debts and liabilities of Borrower to Guarantor, but not third parties, whether such debts and liabilities now exist or are hereafter incurred or arise, and whether the obligations of Borrower thereon be direct, contingent,
primary, secondary, several, joint and several, or otherwise, and irrespective of whether such debts or liabilities be evidenced by note, contract, open account, or otherwise, and irrespective of the person/entity in whose favor such debts or
liabilities may, at their inception, have been, or may hereafter be, created, or the manner in which they have been, or may hereafter be, acquired by Guarantor. The Guarantor Claims shall 

  
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 include, without limitation, all rights and claims of Guarantor against Borrower (arising as a result of
subrogation or otherwise) as a result of Guarantor’s payment of all or a portion of the Guaranteed Obligations. So long as any portion of the Obligations or the Guaranteed Obligations remain outstanding, Guarantor shall not receive or collect,
directly or indirectly, from Borrower or any other person/entity any amount upon the Guarantor Claims. 
 Section 4.2
Claims in Bankruptcy. In the event of any receivership, bankruptcy, reorganization, arrangement, debtor’s relief or other insolvency proceeding involving Guarantor as a debtor, Lender shall have the right to prove its claim in any such
proceeding so as to establish its rights hereunder and receive directly from the receiver, trustee or other court custodian dividends and payments which would otherwise be payable upon Guarantor Claims. Guarantor hereby assigns such dividends and
payments to Lender. Should Lender receive, for application against the Guaranteed Obligations, any dividend or payment which is otherwise payable to Guarantor and which, as between Borrower and Guarantor, shall constitute a credit against the
Guarantor Claims, then, upon payment to Lender in full of the Obligations and the Guaranteed Obligations, Guarantor shall become subrogated to the rights of Lender to the extent that such payments to Lender on the Guarantor Claims have contributed
toward the liquidation of the Guaranteed Obligations, and such subrogation shall be with respect to that proportion of the Guaranteed Obligations which would have been unpaid if Lender had not received dividends or payments upon the Guarantor
Claims. 
 Section 4.3 Payments Held in Trust. Notwithstanding anything to the contrary contained in this
Guaranty, in the event that Guarantor should receive any funds, payments, claims and/or distributions which are prohibited by this Guaranty, Guarantor agrees to hold in trust for Lender an amount equal to the amount of all funds, payments, claims
and/or distributions so received, and agrees that it shall have absolutely no dominion over the amount of such funds, payments, claims and/or distributions so received except to pay such funds, payments, claims and/or distributions promptly to
Lender, and Guarantor covenants promptly to pay the same to Lender. 
 Section 4.4 Liens Subordinate. Guarantor
agrees that any liens, security interests, judgment liens, charges or other encumbrances upon Borrower’s assets securing payment of the Guarantor Claims shall be and remain inferior and subordinate to any liens, security interests, judgment
liens, charges or other encumbrances upon Borrower’s assets securing payment of the Guaranteed Obligations, regardless of whether such encumbrances in favor of Guarantor or Lender presently exist or are hereafter created or attach. Without the
prior written consent of Lender, Guarantor shall not (i) exercise or enforce any creditor’s rights it may have against Borrower, or (ii) foreclose, repossess, sequester or otherwise take steps or institute any action or proceedings
(judicial or otherwise, including, without limitation, the commencement of, or the joinder in, any liquidation, bankruptcy, rearrangement, debtor’s relief or insolvency proceeding) to enforce any liens, mortgages, deeds of trust, security
interests, collateral rights, judgments or other encumbrances on the assets of Borrower held by Guarantor. The foregoing shall in no manner vitiate or amend, nor be deemed to vitiate or amend, any prohibition in the Loan Documents against Borrower
granting liens or security interests in any of its assets to any person/entity other than Lender. 

  
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 ARTICLE 5 

COVENANTS 

Section 5.1 Covenants. Until all of the Obligations and the Guaranteed Obligations have been paid in full, Guarantor
shall not sell, pledge, mortgage or otherwise transfer any of its assets, or any interest therein, on terms materially less favorable than would be obtained in an arms-length transaction. 

Section 5.2 Prohibited Transactions. Guarantor shall not, at any time while a default in the payment of the
Guaranteed Obligations has occurred and is continuing, sell, pledge, mortgage or otherwise transfer to any person/entity any of Guarantor’s assets, or any interest therein. 

Section 5.3 Additional Covenants. 

(a) Litigation. Guarantor shall give prompt notice to Lender of any litigation or governmental proceedings pending or threatened
against Guarantor which might materially adversely affect Guarantor’s condition (financial or otherwise) or business (including Guarantor’s ability to perform its obligations hereunder or under the other Loan Documents to which it is a
party). 
 (b) Patriot Act. Guarantor will use its good faith and commercially reasonable efforts to comply with the Patriot
Act and all applicable requirements of governmental authorities having jurisdiction over Guarantor, including those relating to money laundering and terrorism. 

(c) Further Assurances. Guarantor shall, at Guarantor’s sole cost and expense: 

(i) cure any defects in the execution and delivery of the Loan Documents to which Guarantor is a party and execute and deliver, or cause to be
executed and delivered, to Lender such documents, instruments, certificates, assignments and other writings, and do such other acts necessary or desirable, to correct any omissions in the Loan Documents to which Guarantor is a party, as Lender may
reasonably require; and 
 (ii) do and execute all and such further lawful and reasonable acts, conveyances and assurances for the better
and more effective carrying out of the intents and purposes of this Guaranty and the other Loan Documents to which Guarantor is a party, as Lender may reasonably require from time to time. 

ARTICLE 6 

MISCELLANEOUS 

Section 6.1 Waiver. No failure to exercise, and no delay in exercising, on the part of Lender, any right hereunder
shall operate as a waiver thereof, nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right. The rights of Lender hereunder shall be in addition to all other rights provided
by law. No modification or waiver of any provision of this Guaranty, nor any consent to any departure therefrom, shall be effective unless in writing and no such consent or waiver shall extend beyond the particular case and purpose involved. No
notice or demand given in any case shall constitute a waiver of the right to take other action in the same, similar or other instances without such notice or demand. 

  
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 Section 6.2 Notices. All notices, demands, requests, consents,
approvals or other communications (any of the foregoing, a “Notice”) required, permitted or desired to be given hereunder shall be in writing and shall be sent by telefax (with answer back acknowledged) or by registered or
certified mail, postage prepaid, return receipt requested, or delivered by hand or by reputable overnight courier, addressed to the party to be so notified at its address hereinafter set forth, or to such other address as such party may hereafter
specify in accordance with the provisions of this Section 6.2. Any Notice shall be deemed to have been received: (a) three (3) days after the date such Notice is mailed, (b) on the date of sending by electronic
mail if sent during business hours on a Business Day (otherwise on the next Business Day), (c) on the date of delivery by hand if delivered during business hours on a Business Day (otherwise on the next Business Day), and (d) on the next
Business Day if sent by an overnight commercial courier, in each case addressed to the parties as follows: 
  

			
	 If to Borrower:
	  	 GIPIL 525 S PERRYVILLE RD, LLC
 Attn: David E.
Sobelman, President
 401 E. Jackson Street, Suite 3300
 Tampa,
Florida 33602
  
 SUNNY RIDGE MHP LLC

Attn: Richard N. Hornstrom, Managing Member
 1002 Locke Street

Avon Park, Florida 33825

		
	 If to Borrower, with copy to:
	  	 TRENAM LAW
 200 Central Avenue, Suite
1600
 St. Petersburg, Florida 33701
 Attention:
Tim Hughes, Esquire

		
	 If to Lender:
	  	 AMERICAN MOMENTUM BANK
 Attention:
Commercial Loan Department
 500 South Washington Boulevard

Sarasota, Florida 34236
  

		
	 If to Lender, with copy to:
	  	 BUCHANAN INGERSOLL & ROONEY PC

401 E. Jackson Street, Suite 2400
 Tampa, Florida
33602
 Attention: Leonard H. Johnson, Esquire.

 Any party may change the address to which any such Notice is to be delivered by furnishing ten (10) days written notice
of such change to the other parties in accordance with the provisions of this Section 6.2. Notices shall be deemed to have been given on the date set forth above, even if there is an inability to actually deliver any Notice
because of a changed address of which no Notice was given or there is a rejection or refusal to accept any Notice offered for delivery. Notice for any party may be given by its respective counsel. 

  
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 Section 6.3 Governing Law. This Guaranty shall be governed by and
construed in accordance with the laws of the State of Florida (without regard to conflict of laws or principles) and the applicable laws of the United States of America. 

Section 6.4 Invalid Provisions. If any provision of this Guaranty is held to be illegal, invalid, or unenforceable under present or
future laws effective during the term of this Guaranty, such provision shall be fully severable and this Guaranty shall be construed and enforced as if such illegal, invalid or unenforceable provision had never comprised a part of this Guaranty, and
the remaining provisions of this Guaranty shall remain in full force and effect and shall not be affected by the illegal, invalid or unenforceable provision or by its severance from this Guaranty, unless such continued effectiveness of this
Guaranty, as modified, would be contrary to the basic understandings and intentions of the parties as expressed herein. 
 Section 6.5
Amendments. This Guaranty may be amended only by an instrument in writing executed by the party(ies) against whom such amendment is sought to be enforced. 

Section 6.6 Parties Bound; Assignment. This Guaranty shall be binding upon and shall inure to the benefit of the parties hereto and their
respective successors, permitted assigns, heirs and legal representatives. Lender shall have the right to assign or transfer its rights under this Guaranty in connection with any assignment of the Loan and the Loan Documents. Any assignee or
transferee of Lender shall be entitled to all the benefits afforded to Lender under this Guaranty. Guarantor shall not have the right to assign or transfer its rights or obligations under this Guaranty without the prior written consent of Lender,
and any attempted assignment without such consent shall be null and void. 
 Section 6.7 Headings. Section
headings are for convenience of reference only and shall in no way affect the interpretation of this Guaranty. 

Section 6.8 Recitals. The recitals and introductory paragraphs hereof are a part hereof, form a basis for this
Guaranty and shall be considered prima facie evidence of the facts and documents referred to therein. 

Section 6.9 Counterparts. To facilitate execution, this Guaranty may be executed in as many counterparts as may be
convenient or required. It shall not be necessary that the signature of, or on behalf of, each party, or that the signature of all persons required to bind any party, appear on each counterpart. All counterparts shall collectively constitute a
single instrument. It shall not be necessary in making proof of this Guaranty to produce or account for more than a single counterpart containing the respective signatures of, or on behalf of, each of the parties hereto. Any signature page to any
counterpart may be detached from such counterpart without impairing the legal effect of the signatures thereon and thereafter attached to another counterpart identical thereto except having attached to it additional signature pages. 

  
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 Section 6.10 Rights and Remedies. If Guarantor becomes liable for
any indebtedness owing by Borrower to Lender, by endorsement or otherwise, other than under this Guaranty, such liability shall not be in any manner impaired or affected hereby and the rights of Lender hereunder shall be cumulative of any and all
other rights that Lender may ever have against Guarantor. The exercise by Lender of any right or remedy hereunder or under any other instrument, or at law or in equity, shall not preclude the concurrent or subsequent exercise of any other right or
remedy. 
 Section 6.11 Entirety. THIS GUARANTY EMBODIES THE FINAL, ENTIRE AGREEMENT OF GUARANTOR AND LENDER WITH RESPECT TO
GUARANTOR’S GUARANTY OF THE GUARANTEED OBLIGATIONS AND SUPERSEDES ANY AND ALL PRIOR COMMITMENTS, AGREEMENTS, REPRESENTATIONS AND UNDERSTANDINGS, WHETHER WRITTEN OR ORAL, RELATING TO THE SUBJECT MATTER HEREOF. THIS GUARANTY IS INTENDED BY
GUARANTOR AND LENDER AS A FINAL AND COMPLETE EXPRESSION OF THE TERMS OF THE GUARANTY, AND NO COURSE OF DEALING BETWEEN GUARANTOR AND LENDER, NO COURSE OF PERFORMANCE, NO TRADE PRACTICES AND NO EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL
AGREEMENTS OR DISCUSSIONS OR OTHER EXTRINSIC EVIDENCE OF ANY NATURE SHALL BE USED TO CONTRADICT, VARY, SUPPLEMENT OR MODIFY ANY TERM OF THIS GUARANTY. THERE ARE NO ORAL AGREEMENTS BETWEEN GUARANTOR AND LENDER. 

Section 6.12 Waiver of Right To Trial By Jury. GUARANTOR AND LENDER (BY ACCEPTANCE HEREOF) EACH HEREBY AGREE NOT TO ELECT A TRIAL BY
JURY OF ANY ISSUE TRIABLE OF RIGHT BY JURY, AND EACH WAIVES ANY RIGHT TO TRIAL BY JURY FULLY TO THE EXTENT THAT ANY SUCH RIGHT SHALL NOW OR HEREAFTER EXIST WITH REGARD TO THIS GUARANTY, THE NOTE, THE MORTGAGE, THE LOAN AGREEMENT OR THE OTHER LOAN
DOCUMENTS, 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 EACH GUARANTOR AND 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. EACH PARTY IS HEREBY AUTHORIZED TO FILE A COPY OF THIS PARAGRAPH IN ANY PROCEEDING AS CONCLUSIVE EVIDENCE OF THIS WAIVER BY EACH PARTY. 

Section 6.13 Cooperation. Guarantor acknowledges that Lender and its successors and assigns may (i) sell this
Guaranty, the Note and the other Loan Documents to one or more investors as a whole loan or (ii) participate the Loan secured by this Guaranty to one or more investors. 

Section 6.14 Reinstatement in Certain Circumstances. If at any time any payment of the principal of or interest
under the Note or any other amount payable by Borrower under the Loan Documents is rescinded or must be otherwise restored or returned upon the insolvency, bankruptcy or reorganization of the Borrower or otherwise, Guarantor’s obligations
hereunder with respect to such payment shall be reinstated as though such payment had been due but not made at such time. 

  
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 Section 6.15 Gender; Number; General Definitions. Unless the
context clearly indicates a contrary intent or unless otherwise specifically provided herein, (a) words used in this Guaranty may be used interchangeably in the singular or plural form, (b) any pronouns used herein shall include the
corresponding masculine, feminine or neuter forms, (c) the word “Borrower” shall mean “each Borrower and any subsequent owner or owners of the Premises or any part thereof or interest therein”, (d) the word
“Lender” shall mean “Lender and any subsequent holder of the Note”, (e) the word “Note” shall mean “the Note and any other evidence of indebtedness secured by the Loan Agreement”,
(f) the word “Premises” shall include any portion of the Premises and any interest therein, and (g) the phrases “attorneys’ fees”, “legal fees” and “counsel fees” shall include any and
all attorneys’, paralegal and law clerk fees and disbursements, including, but not limited to, fees and disbursements at the pre-trial, trial and appellate levels, incurred or paid by Lender in protecting
its interest in the Premises, the leases and/or rents (affecting the Premises) and/or in enforcing its rights hereunder. 

Section 6.16. Insurance. Guarantor is hereby notified that, unless Borrower or Guarantor provides Lender with
evidence of the insurance coverage required by Section 7.2 of the Loan Agreement, Lender may purchase insurance at Borrower’s expense to protect Lender’s interests in the Premises and/or the Collateral. This insurance may, but need
not, protect Borrower’s interests. The coverage that Lender purchases may not pay any claim that Borrower makes or any claim that is made against Borrower in connection with the Premises and/or the Collateral. Borrower may later cancel any
insurance purchased by Lender, but only after providing Lender with evidence that Borrower has obtained insurance as required by the Loan Agreement. If Lender purchases insurance for the Premises and/or the Collateral, Borrower and Guarantor will be
responsible for the costs of that insurance, including interest and any other charges Lender may impose in connection with the placement of such insurance, until the effective date of the cancellation or expiration of the insurance. The costs of
such insurance may be added to Borrower’s total outstanding balance or obligation. The costs of such insurance may be more than the cost of insurance Borrower may be able to obtain on Borrower’s own. 

[ This Space Left Blank Intentionally ] 

  
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 IN WITNESS WHEREOF, Guarantor has executed this Guaranty as of the day and year first
above written. 
  

	
	 /s/ DAVID E. SOBELMAN

	DAVID E. SOBELMAN, an individual

  
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