Document:

Exhibit 10.21

 

REAL ESTATE PURCHASE AND SALE AGREEMENT

 

THIS REAL ESTATE
PURCHASE AND SALE AGREEMENT (this “Agreement”) is entered into as of this 26th day of
February, 2018 (the “Effective Date”), by and between COF NORTH, LLC, a Virginia limited liability
company (“COF”), and COF NORTH II, LLC, a Virginia limited liability company (“COF
II”, and together with COF collectively, the “Seller”); and MEDALIST DIVERSIFIED HOLDINGS,
L.P., a Delaware limited partnership (the “Buyer”).

 

RECITALS

 

WHEREAS, COF owns certain
real property and improvements commonly known as the Hanover Square North Shopping Center, and located in Mechanicsville, Hanover
County, Virginia (the “Shopping Center”).

 

WHEREAS, COF II owns
certain real property consisting of an outparcel adjacent to the Shopping Center.

 

WHEREAS, Seller desires
to sell to Buyer, and Buyer desires to purchase from Seller, the Property (as hereinafter defined), on the terms and conditions
contained in this Agreement;

 

AGREEMENT

 

NOW, THEREFORE, in
consideration of the promises and mutual agreements contained herein, and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto do hereby agree as follows:

 

ARTICLE 1

SALE OF PROPERTY

 

1.1          Property
To Be Sold. Subject to the terms and provisions hereof, Seller agrees to sell
to Buyer, and Buyer agrees to purchase from Seller, upon the terms and conditions of this Agreement:

 

1.1.1       All
of the land described and/or shown on Exhibit A attached hereto, together with all privileges, rights, easements
and appurtenances belonging to such land, including without limitation, all right, title and interest (if any) of Seller in and
to any streets, alleys, passages, and other rights-of-way or appurtenances included in, adjacent to or used in connection with
such land and all right, title and interest (if any) of Seller in all mineral and development rights appurtenant to such land (collectively,
the “Land”).

 

1.1.2       All
buildings, structures and other improvements and all fixtures, systems and facilities located on the Land (collectively, the “Improvements”).

 

1.1.3       All
furniture, equipment, machinery, inventories, supplies, signs and other tangible personal property of every kind and nature, if
any, owned by Seller and installed, located or situated on or used in connection with the operation of the Land or Improvements,
including, without limitation, the personal property listed on Exhibit B attached hereto (collectively, the
 “Personal Property”).

 

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1.1.4       All
of Seller’s rights in and to those certain leases (collectively, the “Leases”) described in the
rent roll attached hereto as Exhibit C (the “Rent Roll”) with the tenants described therein
(collectively, the “Tenants”) including Seller’s rights to any unapplied security deposit under
the Leases (the “Tenant Deposits”).

 

1.1.5       All
of Seller’s right, title and interest, if any, in all intangible assets of any nature relating to the Land, the Improvements
and/or the Personal Property, including, without limitation, all of Seller’s right, title, and interest in all and all (i) warranties
and/or guaranties; (ii) use, occupancy, building and/or operating licenses, permits, approvals and/or development rights; and (iii) plans
and specifications (collectively, the “Intangible Property”).

 

1.1.6       An
irrevocable license to use any and all trade names used or utilized in connection with the Land and/or Improvements, including,
without limitation, the trade name(s) “Hanover Square North” (collectively, the “Trade Names”).

 

1.1.7       All
of Seller’s rights, if any, in any and all service contracts (other than management and leasing contracts) affecting the
Land and/or Improvements as set forth on Exhibit D (collectively, the “Property Contracts”),
to the extent Buyer elects to assume the same in accordance with Section 3.4 below.

 

1.1.8       All
rights, which the Seller may have, if any, in and to any Tenant data, telephone numbers and listings, all master keys and keys
to common areas, all good will, if any, and any and all other rights, privileges and/or appurtenances owned by Seller and related
to or used in connection with the existing business operation of the Land and/or Improvements (collectively, the “Miscellaneous
Property”).

 

1.1.9       The
Land and Improvements are hereinafter sometimes referred to collectively as the “Real Property” and the
Real Property, Personal Property, Leases, Tenant Deposits, Intangible Property, Trade Names, Property Contracts and Miscellaneous
Property, are hereinafter sometimes referred to collectively as the “Property.”

 

1.2          Purchase
and Sale. Buyer agrees to purchase from Seller, and Seller agrees to sell to Buyer, the Property, on the terms and
conditions set forth in this Agreement.

 

1.3          Purchase
Price. The purchase price for the Property (the “Purchase Price”) shall be Twelve Million One Hundred
Seventy-Three Thousand and 00/100 Dollars ($12,173,000.00), allocated as follows:

 

	Shopping Center	 	$	11,850,000.00	 
	 	 	 	 	 
	Undeveloped outparcel	 	$	250,000.00	 
	 	 	 	 	 
	Tenant improvements and lease concessions for Kid to Kid Lease	 	$	73,000.00	 
	 	 	 	 	 
	TOTAL:	 	$	12,173,000.00	 

 

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1.4          The
Purchase Price shall be paid to Seller by Buyer on the Closing Date (as defined below), plus or minus all adjustments and/or credits
as set forth herein, by wire transfer of immediately available federal funds.

 

1.5          The
Buyer’s obligation to pay the $73,000.00 allocated to the Purchase Price for tenant improvements and lease concessions described
in Section 1.3 shall be contingent on Seller entering into an executed lease (the “Kid to Kid Lease”)
with Kid to Kid children’s closing store for approximately 3,600 rentable square feet in the Shopping Center upon such terms
and conditions reasonably acceptable to Buyer, including but not limited to the term, guaranties, base rent, CAM and tax provisions.
In the event that Seller fails to obtain the fully-executed Kid to Kid Lease on or before the expiration of the Due Diligence Period
(as defined below), Buyer shall have the option to (i) proceed to Closing with a reduction in the Purchase Price equal to $73,000.00,
or (ii) terminate this Agreement and receive a refund of the Deposit.

 

1.6          Deposit
and Escrow.

 

1.6.1       Within
three (3) Business Days after the Effective Date, Buyer shall deliver to GRS Global, Attn: Linda Morris, located at 901 E. Byrd
Street, Suite 1100, Richmond, Virginia 23219, Telephone: (804) 486-9465, E-mail: lmorris@grs-global.com (“Escrow
Holder”) an earnest money deposit in the amount of Fifty Thousand and No/100 Dollars ($50,000.00) (together with
any interest thereon, the “Initial Deposit”, and together with the Additional Deposit (defined below),
if made, and any interest earned thereon, shall be referred to collectively as the “Deposit”). The Deposit
shall be held in an insured, interest-bearing account with interest accruing for the benefit of the party entitled to the Deposit
pursuant to the terms of this Agreement. The Escrow Holder may conclusively rely upon and act in accordance with any certificate,
instructions, notice, letter, e-mail, facsimile and/or other written instrument believed to be genuine and to have been signed
or communicated by the proper party or parties.

 

1.6.2       The
Deposit shall be applied to the Purchase Price if the Closing occurs. After the expiration of the Due Diligence Period, the Deposit
shall be nonrefundable to Buyer except as otherwise provided herein, including, without limitation, unless escrow fails to close
due to Seller’s breach or default under this Agreement, a failure of a representation or warranty by Seller to be true and
correct as of the Closing or due to the failure of a condition precedent set forth in Section 5.2, and shall constitute liquidated
damages to Seller if escrow fails to close solely as a result of Buyer’s default as provided in Section 6.1 below. In the
event Buyer shall elect to terminate this Agreement during the Due Diligence Period, the Deposit shall be returned to Buyer as
provided in Section 3.6 below.

 

1.7          Closing
Date. The closing of the transaction contemplated by this Agreement (the “Closing”) shall take
place through an escrow with Escrow Holder on the day which is no later than thirty (30) days after the expiration of the Due Diligence
Period (the “Closing Date”).

 

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ARTICLE 2

TITLE AND SURVEY

 

2.1          Title
and Survey. Buyer may, at Buyer’s sole cost and expense, obtain (a) preliminary title commitment (the “Preliminary
Report”) from the Escrow Holder (in such capacity, the “Title Company”); and (b) a survey
(the “Survey”). 

 

2.2          Review
of the Preliminary Report, Survey and UCC Searches; Objection; Approval or Termination. On or before the date that
is ten (10) days prior to the expiration of the Due Diligence Period with respect to the Preliminary Report, Buyer may deliver
to Seller a notice or notices (each, a “Title Objection Notice”) setting forth (i) any matters
shown on the Preliminary Report, or Survey, as applicable, to which Buyer objects; (ii) any modifications, supplements and/or
other modifications of the legal description, description of exceptions and/or other matters set forth in the Preliminary Report,
and/or Survey, as applicable; and (iii) any endorsements and/or other affirmative title insurance coverage required by the
Buyer to be included in the Title Policy (as hereinafter defined). Buyer’s failure to give any Title Objection Notice shall
be deemed to constitute Buyer’s approval of all matters disclosed in the Preliminary Report, or Survey as applicable. If
Buyer delivers one or more Title Objection Notice(s), Seller shall have five (5) days from the receipt of Buyer’s such Title
Objection Notice to provide Buyer with written notice of Seller’s election to remove or otherwise cure, to Buyer’s
reasonable satisfaction, any objections on or prior to the Closing (“Seller Response Notice”); provided,
however, and notwithstanding anything to the contrary contained in this Agreement, that Seller shall be obligated to pay and remove
any and all monetary liens affecting the Real Property. Any failure by Seller to provide Seller’s Response Notice shall
be deemed Seller’s election not to cure any objections. If Seller elects or is deemed to have elected not to cure a disapproved
item, then Buyer may either (i) elect to terminate this Agreement; or (ii) waive in writing its prior disapproval of such item
and accept title subject to such previously disapproved item by delivering notice of Buyer’s election to Seller within five
(5) days after the receipt of the Seller Response Notice. If Buyer fails to deliver its notice of election to terminate this Agreement
or waive its prior disapproval as provide in clauses (i) and (ii) above within such five (5) day period, Buyer shall be deemed
to have waived its disapproval. If this Agreement is terminated pursuant to this Section 2.2, the provisions of Section 3.6 shall
apply.

 

2.3          Required
Title Condition.  Title to the Property shall be conveyed to Buyer subject only to the following matters: (a) current,
non-delinquent real estate taxes and assessments; (b) the matters set forth in the Preliminary Report which Buyer has approved
or been deemed to have approved; (c) the Leases; (d) laws, ordinances and governmental regulations (including, but not limited
to building, zoning, land use, and any subdivision ordinances and regulations) affecting the Property; (e) matters which would
be disclosed by an accurate survey or inspection of the Property; and (f) any other matters approved in writing by Buyer,
in its sole and absolute discretion (collectively, the “Required Title Condition”).

 

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ARTICLE 3

INSPECTION AND DUE
DILIGENCE PERIOD

 

3.1          Access.
From and after the Effective Date through the Closing Date, Buyer, personally or through its authorized agents or representatives,
shall be entitled, upon reasonable advance notice to Seller, to enter upon the Property and to make such investigations, including
appraisals, tenant interviews, engineering studies, interviews of governmental and quasi-governmental officials, soil tests, environmental
studies and underwriting analyses, as Buyer deems reasonably necessary or advisable. Buyer shall have the right to conduct a Phase
I environmental site assessment, and, if desired, a Phase II environmental site assessment (including soils borings, soil sampling
and, if relevant, ground water testing, and invasive sampling of building materials with respect to the Property). Buyer’s
activities at the Property shall be conducted in such a manner so as not to unreasonably interfere with the rights of the Tenants
under the Leases. Buyer will coordinate all on-site inspections and any contact with tenants of the Property with Seller. Seller
shall have the option to have a representative present at any and all such on-site inspections or interviews. Buyer hereby agrees
to indemnify and hold Seller harmless from any physical damages arising out of inspections and/or investigations by Buyer or its
agents or independent contractors; provided, however, and notwithstanding the foregoing, that Buyer shall not be liable for any
pre-existing conditions at the Property.

 

3.2          Due
Diligence Period. Buyer shall have until 5:00 pm Eastern time on the day which is forty-five (45) days after the Effective
Date (the “Due Diligence Period”) to conduct such due diligence review of the Property, all of the items
to be furnished by Seller to Buyer pursuant to Section 3.3 below and all records and other materials related thereto as Buyer
deems appropriate in its sole and absolute discretion. Notwithstanding the foregoing, Buyer shall have the option to extend the
Due Diligence Period for one (1) additional period of ten (10) days (the “Extension Option”) by providing
written notice to Seller of Buyer’s exercise of its Extension Option on or before the date on which the Due Diligence Period
was to expire.

 

3.3          Items
to be Provided by Seller. To the extent not previously delivered to Buyer, Seller shall deliver to Buyer all of
the items specified on Exhibit E attached hereto (collectively, the “Property Information”)
within three (3) Business Days after the Effective Date to the extent such items are in Seller’s (or its affiliates’
or Property Manager’s) possession or control. Except as otherwise expressly set forth in Section 4.1, Seller makes no representations
or warranties of any kind with regard thereto. Buyer agrees not to disclose such non-public Property Information, or any of the
provisions, terms or conditions thereof, to any party outside of Buyer’s organization other than its legal counsel, lenders,
investors, surveyor, title company, broker, accountants, consultants, officers, partners, directors, members and shareholders.
Buyer’s obligations under this Section 3.3 shall survive any termination of this Agreement.

 

3.4          Termination
of Property Contracts. Prior to the expiration of the Due Diligence Period, Buyer shall notify Seller of any Property
Contract which Buyer wishes to retain and assume as of the Closing, in Buyer’s sole and absolute discretion. Seller shall
terminate all other Property Contracts at Seller’s sole cost and expense; provided, however, that if any such Property Contract
does not permit Seller to terminate same as of the Closing Date, Buyer shall assume all obligations thereunder until the effective
date of the termination, but shall have no liability with regard to events occurring prior to the Closing Date. If Buyer does not
provide such notice to Seller, Buyer shall be deemed to have elected to assume all Property contracts.

 

3.5          Buyer’s
Possible Early Termination. Buyer shall have the right to approve, in Buyer’s sole and absolute discretion, the Property,
the Property Information, the Preliminary Report, the Survey, or any other matter whatsoever regarding the Property. On or before
the expiration of the Due Diligence Period, Buyer may provide written notice to Seller (i) that Buyer wishes to proceed to Closing
(an “Approval Notice”); (ii) disapproving the Property (“Disapproval Notice”),
or (iii) exercising Buyer’s Extension Option. Buyer’s failure to provide an Approval Notice or a Disapproval Notice
prior to the expiration of the Due Diligence Period (as may have been extended pursuant to Section 3.2) shall be deemed Buyer’s
disapproval of the Property. Upon the giving of a Disapproval Notice or the deemed disapproval of the Property, this Agreement
shall automatically terminate and the provisions of Section 3.6 shall apply. If Buyer delivers an Approval Notice, Buyer shall
deposit, within three (3) Business Day after expiration of the Due Diligence Period, with Escrow Holder an additional deposit in
the amount of Fifty Thousand and 00/100 Dollars ($50,000.00) (the “Additional Deposit”).

 

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3.6          Consequences
of Buyer’s Early Termination. This Agreement shall immediately terminate upon the giving of a Disapproval Notice
or upon deemed disapproval pursuant to Section 3.5, as applicable, and the parties shall be released from all further obligations
under this Agreement (except with respect to any provisions that by their terms expressly survive a termination of this Agreement);
provided, however and notwithstanding anything to the contrary contained in this Agreement, that if Seller is in default hereunder
at the time of such termination, Section 6.2 shall additionally apply. Escrow Holder shall pay the entire Deposit to Buyer
not later than one (1) Business Day following receipt of Buyer’s Disapproval Notice or Buyer’s deemed disapproval of
the Property pursuant to Section 3.5. Notwithstanding anything to the contrary contained in this Agreement, no notice to Escrow
Holder from Seller shall be required for the release of the Deposit to Buyer by Escrow Holder under this Section, and the Deposit
shall be released and delivered to Buyer upon Escrow Holder’s receipt of Buyer’s Disapproval Notice or upon Buyer’s
deemed disapproval of the Property pursuant to Section 3.5, despite any objection or potential objection by Seller.

 

ARTICLE 4

REPRESENTATIONS,
WARRANTIES AND COVENANTS

 

4.1          Seller’s
Representations. Each of COF and COF II warrants and represents to Buyer with respect to that portion of the Property
owned by COF or COF II, as the case may be, that the following matters are true and correct as of the Effective Date and the Closing
Date:

 

4.1.1       Seller
is a limited liability company validly formed in the Commonwealth of Virginia. Seller has full power and authority to enter into
this Agreement, to perform this Agreement and to consummate the transactions contemplated hereby. The execution, delivery and performance
of this Agreement and all documents contemplated hereby by Seller have been duly and validly authorized by all necessary action
on the part of Seller, and all required consents and approvals have been duly obtained and will not result in a breach of any of
the terms or provisions of, or constitute a default under any indenture, agreement and/or instrument to which Seller is a party.
This Agreement is a legal, valid and binding obligation of Seller, enforceable against Seller in accordance with its terms, subject
to the effect of applicable bankruptcy, insolvency, reorganization, arrangement, moratorium or other similar laws affecting the
rights of creditors generally.

 

4.1.2       Seller
has good and marketable title to the Property. Seller is not a party to any outstanding right of first refusal, right of reverter
or option to purchase relating to the Property or any interest therein. Subject to the Leases, Seller has enjoyed the continuous
and uninterrupted quiet possession, use and operation of the Property, without material complaint or objection by any person during
the term of Seller’s ownership of the Property.

 

4.1.3       Seller
is not a “foreign person” within the meaning of Section 1445(f) of the Internal Revenue Code of 1986, as amended (the
 “Code”).

 

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4.1.4       Neither
Seller nor any of its affiliates, nor any of their respective partners, members, shareholders or other equity owners, and none
of their respective employees, officers, directors, representatives or agents is, nor will they become, a person or entity with
whom United States persons or entities are restricted from doing business under regulations of the Office of Foreign Asset Control
(“OFAC”) of the Department of the Treasury (including those named on OFAC’s Specially Designated
and Blocked Persons List) or under any statute, executive order (including, without limitation, the September 24, 2001, Executive
Order Blocking Property and Prohibiting Transactions with Persons Who Commit, Threaten to Commit, or Support Terrorism), or other
governmental action, and is not and will not engage in any dealings or transactions or be otherwise associated with such persons
or entities.

 

4.1.5       No
authorization, consent or approval of any governmental authority (including, without limitation, courts) is required for the execution
and delivery by Seller of this Agreement or the performance of its obligations hereunder.

 

4.1.6       There
are no actions, suits or proceedings pending or, to the best of Seller’s knowledge, threatened, against (a) the Property
or any portion thereof; or (b) Seller.

 

4.1.7       Seller
has not (a) made a general assignment for the benefit of creditors, (b) filed any voluntary petition in bankruptcy or suffered
the filing of an involuntary petition by Seller’s creditors, (c) suffered the appointment of a receiver to take possession
of all or substantially all of Seller’s assets, (d) suffered the attachment or other judicial seizure of all, or substantially
all, of Seller’s assets, (e) admitted in writing its inability to pay its debts as they come due, or (f) made an offer of
settlement, extension or composition to its creditors generally.

 

4.1.8       Neither
the execution, delivery or performance of this Agreement nor compliance herewith (a) conflicts or will conflict with or results
or will result in a breach of or constitutes or will constitute a default under (i) the articles of incorporation and by-laws
or other organization certificate and/or partnership or operating agreement of Seller, or (ii) any law or any order, writ,
injunction or decree of any court or governmental authority, or (b) results in the creation or imposition of any lien, charge
or encumbrance upon its property pursuant to any such agreement or instrument.

 

4.1.9       Seller
has not entered into any material commitments or agreements with any governmental authorities or agencies affecting the Property.

 

4.1.10     There
is no pending or, to the best of Seller’s knowledge, threatened or contemplated, condemnation proceeding relating to the
Property, and Seller has not received any written notice from any governmental or quasi-governmental agency or official to the
effect that any such proceeding is contemplated.

 

4.1.11     To
the best of Seller’s knowledge, Seller has delivered to Buyer copies of all Property Contracts to which Seller is a party
and that are in Seller’s possession or control with respect to the ownership, use and/or operation of the Property. Seller
has not, within the last year, received any written notice of any default under any Property Contract or other such contract or
agreement that has not been cured or waived.

 

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4.1.12     There
are no tenant improvement allowances, non-monetary tenant improvement obligations of Landlord, leasing commissions and/or rent
concessions with respect to the current term of the Leases, except as disclosed on Schedule 4.1.12 attached hereto.

 

4.1.13     Seller
has not received any written notice from, and to the best of Seller’s knowledge, there are no grounds for, any governmental
agency requiring the correction of any material condition with respect to the Property.

 

4.1.14     The
Rent Roll attached hereto as Exhibit C contains a list of all Leases affecting the Property as of the Effective Date.
The Rent Roll is a copy of the rent roll that Seller relies upon and uses in the ordinary course of its business, and Seller has
no current actual knowledge that the Rent Roll is untrue, inaccurate and incomplete in any material respect. The copies of the
Leases (and other agreements with tenants) delivered or furnished and made available by Seller to Buyer pursuant to this Agreement
constitute all of the Leases to which Seller is a party relating to the Property.

 

4.1.15     Seller
has no actual knowledge, and has not received any written notice, that any “hazardous” or “toxic materials or
pollutants” have contaminated or have been released upon the Property (nor does Seller have any current actual knowledge
of any such contamination, release or use or storage of any “hazardous” or “toxic materials or pollutants”
occurring on the Property at any time during Seller’s ownership thereof), as such terms are defined in any federal, state
or local rule or regulation pertaining to environmental regulation, clean-up, contamination or disclosure. Seller has not received
any written notice of the existence of any Mold Condition on the Property. “Mold” means mold, mildew,
fungus or other potentially dangerous organisms. “Mold Condition” means the presence or suspected presence
of Mold or any condition(s) that reasonably can be expected to give rise to or indicate the presence of Mold, including observed
or suspected instances of water damage or intrusion, the presence of wet or damp wood, cellulose wallboard, floor coverings or
other materials, discoloration of walls, ceilings or floors, or any notice from a governmental agency of complaints regarding the
indoor air quality at the Property.

 

4.2          Buyer’s
Representations. Buyer makes the following representations and warranties to Seller that, to the best of Buyer’s
knowledge:

 

4.2.1       Buyer
is a duly formed and validly existing limited liability company in good standing under the laws of the State ofDelaware.

 

4.2.2       Buyer
has full right, power and authority and is duly authorized to enter into this Agreement and, as of the Closing Date, any permitted
assignee of Buyer shall have the full right, power and authority to perform each of the covenants to be performed by the Buyer
hereunder and to execute and deliver and to perform its obligations under all documents required to be executed and delivered by
it pursuant to this Agreement, and this Agreement constitutes the valid and legally binding obligation of Buyer, enforceable against
Buyer in accordance with its terms.

 

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4.2.3       Neither
Buyer nor any of its affiliates, nor any of their respective partners, members, shareholders or other equity owners, and none of
their respective employees, officers, directors, representatives or agents is, nor will they become, a person or entity with whom
United States persons or entities are restricted from doing business under regulations of OFAC (including those named on OFAC’s
Specially Designated and Blocked Persons List) or under any statute, executive order (including, without limitation, the September
24, 2001, Executive Order Blocking Property and Prohibiting Transactions with Persons Who Commit, Threaten to Commit, or Support
Terrorism), or other governmental action, and is not and will not engage in any dealings or transactions or be otherwise associated
with such persons or entities.

 

4.2.4       There
are no judgments outstanding against Buyer or petitions, suits, claims, causes of action or moratoria or other proceedings pending
or threatened against Buyer before any court or other governmental, administrative, regulatory, adjudicatory, or arbitrational
body of any kind, which if decided adversely to Buyer would adversely affect Buyer’s ability to perform its obligations under
this Agreement.

 

4.3          Survivability
of Representations and Warranties. The representations and warranties of Seller and Buyer set forth in this Agreement
shall not be deemed to be merged into or waived by the instruments of Closing, but shall survive the Closing; provided, however,
that any action, suite or proceeding with respect to the truth, accuracy or completeness of such representations and warranties
shall be commenced, if at all, on or before the date which is twelve (12) months after the Closing and, if not commenced on or
before such date, thereafter such representations and warranties shall be void and of no force or effect.

 

4.4          Property
Conveyed “As Is”. Except as may be expressly contained herein, in the exhibits attached hereto and/or in the
documents to be executed and delivered by Seller to Buyer at Closing, Buyer agrees that the Property shall be sold, and Buyer
shall accept possession of the Property at Closing, on an “as-is-where-is” basis. 

 

4.5          Leasing
 & Other Activities Prior to Closing.

 

4.5.1       Leasing
Activities. Seller shall not, from the Effective Date, enter into any modification or amendment to any Leases except for
the Kid to Kid Lease.

 

4.5.2       Service
Contracts. Seller shall not, from the Effective Date, enter into any new service contracts for the Property which are not
terminable on thirty (30) days’ notice without the written consent of Buyer, which consent may be given or withheld in Buyer’s
reasonable discretion.

 

4.5.3       Conducting
Business. At all times prior to Closing, Seller shall continue to (i) conduct business with respect to the Property
in the same manner in which said business has been heretofore conducted; and (ii) insure the Property substantially as it
is currently insured.

 

4.5.4       Compliance
with Laws and Regulations. At all times prior to Closing, Seller shall not knowingly take any action that would result
in a failure to comply in all material respects with all applicable statutes, rules, regulations and requirements of all federal,
state and local commissions, boards, bureaus and agencies applicable to the Land and Improvements.

 

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ARTICLE 5

CLOSING

 

5.1          Closing.
 “Close of Escrow” or “Closing” means the date Escrow Holder receives all of
Buyer and Seller’s deliverables set forth below. The Closing shall take place on the Closing Date set forth in Section 1.7,
as the same may be extended, provided all conditions to the Closing have been satisfied or duly waived as provided herein.

 

5.2          Conditions
Precedent Favoring Buyer. In addition to any other conditions precedent in favor of Buyer as may be expressly set
forth elsewhere in this Agreement, Buyer’s obligations under this Agreement are subject to the timely fulfillment of the
conditions set forth in this Section 5.2 on or before the Closing Date, or such earlier date as is set forth below. Each condition
may be waived in whole or in part only by written notice of such waiver from Buyer to Seller, in Buyer’s sole and absolute
discretion. Buyer may terminate this Agreement upon written notice to Seller due to the failure of any of the conditions precedent
contained in this Agreement, in which event Buyer shall be entitled to a prompt return of the Deposit, and the parties hereto shall
have no further obligations hereunder except those which by their terms expressly survive any such termination.

 

5.2.1       Seller
performing and complying in all material respects with all of the terms of this Agreement to be performed and complied with by
Seller prior to or at the Closing.

 

5.2.2       On
the Closing Date, all of the representations and warranties of Seller set forth in Section 4 hereof shall be true, accurate
and complete.

 

5.2.3       There
shall have been no material adverse change in the physical condition of the Property from the end of the Due Diligence Period through
the Closing Date.

 

5.3          Conditions
Precedent Favoring Seller. In addition to any other condition precedent in favor of Seller as may be expressly set
forth elsewhere in this Agreement, Seller’s obligations under this Agreement are expressly subject to the timely fulfillment
of the conditions set forth in this Section 5.3 on or before the Closing Date, or such earlier date as is set forth below.
Each condition may be waived in whole or part only by written notice of such waiver from Seller to Buyer and written acceptance
of such waiver by Buyer.

 

5.3.1       Buyer
performing and complying in all material respects with all of the terms of this Agreement to be performed and complied with by
Buyer prior to or at the Closing.

 

5.3.2       On
the Closing Date, all of the representations of Buyer set forth in this Agreement shall be materially true, accurate and complete.

 

5.4          Seller’s
Deliveries. At the Closing, Seller shall deliver or cause to be delivered to Escrow Holder, at Seller’s sole
cost and expense, each of the following items:

 

5.4.1       Special
warranty deeds (the “Deeds”) duly executed and acknowledged by each Seller substantially in the form
set forth on Exhibit F.

 

    	 	10	 

     

    

 

5.4.2       A
bill of sale, general assignment and assignment and assumption of leases (the “Bill of Sale and Assignment”)
substantially in the form set forth on Exhibit G.

 

5.4.3       Originals
of the Leases to the extent in Seller’s possession, or in the alternative copies of the same.

 

5.4.4       All
keys to all locks on the Property and all documents in the possession of Seller pertaining to the Tenant, including all applications,
correspondence and credit reports relating to such Tenant.

 

5.4.5       A
non-foreign person affidavit sworn to by Seller as required by Section 1445 of the Internal Revenue Code.

 

5.4.6       Such
evidence, documents, affidavits and indemnifications, in form and substance acceptable to Seller, as may be reasonably required
by the Title Company as a precondition to the issuance of the Title Policy relating to: (i) mechanics’ or materialmen’s
liens; (ii) parties in possession; (iii) the status and capacity of Seller and the authority of the person or persons
who are executing the various documents on behalf of Seller in connection with the sale of the Property; or (iv) any other
matter reasonably required to enable the Title Company to issue the Title Policy and endorsements thereto.

 

5.4.7       Copies
of all Property Contracts assumed by Buyer and all other documents in the possession and/or control of Seller relating to the use
and/or operation of the Property, including, without limitation, all permits, licenses, approvals, plans, specifications, guaranties
and warranties or, in the alternative, make such documents available to Buyer in the leasing or management office at the Property.

 

5.4.8       A
..pdf copy of a duly executed closing statement reflecting the adjustments and prorations required by this Agreement (the “Closing
Statement”).

 

5.4.9       No
later than three (3) Business Days prior to the Closing, (a) estoppel certificates and subordination, non-disturbance and attornment
agreements (“SNDAs”) from a majority of the tenants occupying the Property. In addition, Seller shall
make commercially reasonable efforts to obtain SNDAs from specific tenants requested by Tenant’s lender. The estoppel certificates
shall be on a form reasonably acceptable to Buyer and its lender (or on such other form as may be required by lender or a Tenant’s
lease) and certified to such parties determined by Buyer in its reasonable discretion; and in addition, no later than three (3)
Business Days prior to the date on which Seller intends to distribute the estoppel certificates to the tenants for completion,
Seller shall deliver the draft estoppel certificates to Buyer for Buyer’s review and approval, which approval shall not be
unreasonably withheld. The SNDAs shall be on a form substantially reasonably acceptable to Buyer and its lender (or on such other
form as may be required by a Tenant’s lease).

 

5.4.10     An
estoppel certificate dated no earlier than thirty (30) days prior to Closing, in form and substance reasonably acceptable to Buyer,
from all parties to any reciprocal easement agreements, declarations of covenants, conditions, and restrictions, or similar agreements.

 

    	 	11	 

     

    

 

5.4.11     Reliance
letters addressed to Buyer and its lender with respect to any and all environmental reports, property condition reports and appraisals
obtained by Seller within the past six (6) months; provided, however Seller’s obligation to deliver such reliance letters
shall be at no cost or expense to Seller.

 

5.5          Buyer’s
Deliveries. At the Closing, Buyer shall deliver to Escrow Holder the following items:

 

5.5.1       Immediately
available federal funds sufficient to pay the Purchase Price (less the Deposit and any interest thereon) and Buyer’s share
of all escrow costs and closing expenses as provided herein.

 

5.5.2       Duly
executed and acknowledged originals of the Bill of Sale and Assignment and a .pdf copy of the Closing Statement.

 

5.5.3       Such
evidence or documents as may reasonably be required by Seller and/or the Title Company evidencing the power and authority of the
Buyer and the due authority of, and execution and delivery by, any person or persons who are executing any of the documents required
in connection with the purchase of the Property by Buyer.

 

5.6          Costs,
Prorations and Credits.

 

5.6.1       Closing
Costs. Except as otherwise provided herein, Buyer and Seller shall each pay their own legal fees related to the preparation
of this Agreement and all documents required to settle the transaction contemplated hereby. Buyer shall pay (i) all costs
associated with its investigation of the Property, including the cost of appraisals, architectural, engineering, Survey, credit
and environmental reports; (ii) all title insurance premiums and title examination costs; (iii) all escrow charges and (iv)
all state and local grantee’s taxes to be paid pursuant to Va. Code § 58.1-801 and recording fees. Seller shall pay
(i) the cost of preparing the Deeds; and (ii) all state and local grantor’s taxes to be paid pursuant to Va. Code §
58.1-802. All other customary purchase and sale closing costs shall be paid by Seller or Buyer in accordance with the custom in
the jurisdiction where the Property is located.

 

5.6.2       Prorations.
The following shall be prorated, credited, debited and adjusted between Seller and Buyer as of 12:01 a.m. on the day of the Closing
(except as otherwise provided) in accordance with this section. For purposes of calculating prorations, Buyer shall be deemed to
be in title to the Property, and therefore entitled to the income and responsible for the expenses, for the entire day upon which
the Closing occurs.

 

(a)          Current
Rents. All collected, current rents, including payments for taxes, utilities, common area maintenance, operating expenses,
or insurance, or additional charges of any other nature (collectively “CAM”), based on a rental statement
prepared by Seller and approved by Buyer.

 

(b)          CAM;
Impounds; Reconciliation. The provisions of this subparagraph (b) shall apply in furtherance of the proration of tenant
rents with respect to CAM under subparagraph (a) above:

 

    	 	12	 

     

    

 

(i)          Where
the Leases provide for the payment of any CAM in arrears after being billed therefor by Seller, Seller shall be responsible for
billing all unpaid CAM charges under the Leases for all collection periods ending prior to the Closing, and shall be further responsible
for providing to Buyer, as soon as is reasonably practicable after the Closing, a final determination of any CAM owed by the Tenants
for the period prior to the date of Closing, together with all relevant back-up, paid invoices, receipts, and other materials.
The collection and remitting of any CAM unpaid as of the Closing shall be governed by the provisions of subparagraph (c) below
regarding the post-closing collection of Unpaid Rents.

 

(ii)         Where
Seller has collected any portion of CAM on an estimated basis, pursuant to so-called “impounds,” or otherwise in advance,
then the remaining provisions of this subparagraph (b) shall apply. If Seller’s collection of such amounts is in excess of
the amounts actually paid by Seller for the items comprising CAM for the period prior to Closing, then Buyer shall receive a credit
at Closing for the excess amounts collected. Buyer shall apply all such excess amounts to the charges owed by Buyer for such items
for the period after the Closing and, if required by the Leases, shall rebate or credit the Tenant with any remainder. If it is
determined that the amount collected during Seller’s ownership period was less than the amounts actually paid by Seller for
such items for the period prior to the Closing, then the collection and remitting of such amounts shall be governed by the provisions
of subparagraph (c) below regarding the post-closing collection of Unpaid Rents.

 

(iii)        At
least five (5) Business Days prior to Closing, Seller shall prepare for Buyer’s reasonable approval an estimated
proration statement reconciling the amounts paid by the Tenants in respect of CAM and the amounts actually paid by Seller
therefor. Such statement shall set forth the parties’ estimate of the Buyer’s closing credit (if any), or of the
amount to which Seller might be entitled with respect to its period of ownership (if any). If any of the aforesaid prorations
cannot be definitely calculated accurately as of the Closing, then they shall be recalculated as soon as practicable, but no
more than sixty (60) days, after the Closing. As soon as is practicable, but no more than sixty (60) days after the Closing,
Seller shall conduct a final reconciliation of any such overpayment or underpayment under the Leases to the date of Closing
and shall provide such final reconciliation to Buyer, together with all relevant back-up, paid invoices, receipts, and other
materials; and if such final reconciliation indicates that Buyer was entitled to a larger credit with respect to the same
than Buyer received at Closing, Seller shall immediately remit the shortfall to Buyer.

 

(iv)        Seller
shall be responsible for conducting and completing all reconciliations of CAM charges versus any collections or impound therefor,
and for billing all unpaid CAM charges, to the Tenant for all lease years prior to the Closing pursuant to the terms of the Leases.
The collection and remitting of any CAM unpaid as of the Closing shall be governed by the provisions of subparagraph (c) below
regarding the post-closing collection of Unpaid Rents.

 

    	 	13	 

     

    

 

(c)          Unpaid
Rents. As used herein, the term “Unpaid Rents” means any Tenant rentals and other sums (however
denominated and including without limitation unpaid CAM) owed to Seller from the Tenant and not paid as of the Closing Date. Seller
hereby assigns to Buyer without warranty any and all Unpaid Rents. Seller specifically acknowledges and agrees that Buyer shall
have the right to compromise, forgive or otherwise deal with Unpaid Rents in respect of the tenant owing the same, which dealing
may result in economic advantage to Buyer, all without liability or obligation to Seller. Provided, however, that if any Unpaid
Rents are not otherwise forgiven, compromised or dealt with, such Unpaid Rent, if and when collected by Buyer, shall be applied
first to any unpaid rent and other sums owed to Buyer from the Tenant accruing after the Closing through the date of collection,
with any remaining amounts allocable to the period prior to Closing being paid to Seller (after deduction of all collection costs
including attorneys’ fees). Without limiting the foregoing, Seller specifically agrees not to undertake any effort to collect
unpaid rent or other sums (however denominated) owed to Seller from any person if such person or any affiliate of such person is
in possession of any space in the Property at the time of any such collection effort.

 

(d)          Property
Contracts. Prepaid charges in connection with any Property Contracts that Buyer elects to assume, or licenses or permits,
shall be credited to Seller. Accrued charges in connection with such Property Contracts, or licenses or permits, shall be credited
to Buyer.

 

(e)          Property
Taxes. All real property taxes for the year immediately preceding the year of Closing that are payable in the year of Closing,
and for years prior thereto, shall be paid by Seller on or before the Closing. Except to the extent such items are the responsibility
of the Tenant, real property taxes for the year of Closing shall be prorated on the basis of the most recent assessment and levy.
Any and all refunds, credits, claims or rights to appeal respecting the amount of any real property taxes or other taxes or assessments
charged in connection with the Property for any period shall belong to Buyer following the Closing, except that if prior to the
end of the Due Diligence Period Seller has applied for a property tax refund or has appealed the county assessor’s valuation
of the Property for any period of time prior to the Closing Date, then Seller shall be entitled to any refund applicable to such
period (unless such refund must be credited to the Tenant of the Property by Buyer, in which case such refund shall belong to Buyer
to the extent of such required credits to the Tenant).

 

(f)          Private
Assessments. Except to the extent such items are the responsibility of the Tenant, payments due under any assessments imposed
by private covenant shall be prorated as of the Closing.

 

(g)          Utilities.
Except to the extent such items are the responsibility of the Tenant, prepaid water, sewer, and other utility charges shall be
credited to Seller, and accrued water, sewer, and other utility charges shall be credited to Buyer.

 

(h)          Other
Items. All other items customarily prorated or required by any other provision of this Agreement to be prorated or adjusted.

 

5.6.3       Credits.

 

(a)          Security
Deposits. The Buyer shall receive at credit at Closing from the Seller in the amount of the sum or the Tenant Deposits.

 

    	 	14	 

     

    

 

5.6.4       Re-prorations.
At Closing, the amount of prorations and adjustments as aforesaid shall be determined or estimated to the extent practicable, and
monetary adjustment shall be made between Seller and Buyer. As the amounts of the respective items become finally ascertained,
but in no event later than sixty (60) days after the Closing Date, further adjustment shall be promptly made between the parties
in cash.

 

5.6.5       Survival.
The provisions of this Section 5.6 shall survive the Closing.

 

5.7          Distribution
of Funds and Documents. At the Close of Escrow, Escrow Holder shall do each of the following:

 

5.7.1       Recorded
Documents. Submit to the Clerk’s Office the Circuit Court of Hanover, County, Virginia, the Deeds and each other
document to be recorded under the terms of this Agreement or by general usage.

 

5.7.2       Non-Recorded
Documents. Promptly after the Closing Date, deliver by overnight courier (or as otherwise requested by the intended recipient):
(i) the Title Policy to Buyer; (ii) each other non-recorded document received hereunder to the payee or person acquiring rights
thereunder or for whose benefit said document was acquired; (iii) a copy of each recorded document, conformed to show the recording
data thereon, to each party; and (iv) a fully executed original of each other closing document.

 

5.7.3       Distribution
of Funds. Deliver (i) to Seller, or order, the cash portion of the Purchase Price, adjusted for prorations, charges and
other credits and debits provided for herein; and (ii) to Buyer, or order, any excess funds delivered to Escrow Holder by Buyer.
Such funds shall be delivered by wire transfer or cashier’s check in accordance with instructions for Seller and Buyer; if
no instructions are given, Escrow Holder shall deliver such funds by Escrow Holder’s check via overnight courier (or as otherwise
requested by the intended recipient) to the appropriate party at the address set forth for notice in this Agreement. This Section
5.9 shall survive the Close of Escrow.

 

5.8          Completion
of Documents. Escrow Holder is authorized to insert the date of Closing and otherwise to complete the documents
deposited in Escrow, where appropriate and in a manner consistent with this Agreement.

 

5.9          Possession
and Tenant Notices. Possession of the Property shall be delivered to Buyer by Seller at the Closing, subject only
to the rights of the Tenants under the Leases, rights arising under any Property Contracts not terminated by Seller pursuant to
Section 3.4 above, and rights arising under the matters set forth in the Preliminary Report and permitted as part of the Required
Title Condition. Seller and Buyer covenant and agree to execute at Closing a written notice of the acquisition of the Property
by Buyer, in sufficient copies for transmittal to the Tenants affected by the sale and purchase of the Property and properly addressed
to the Tenants. Such notice shall be prepared by the Seller, at the Seller’s sole cost and expense, and approved by the Buyer
in its reasonable discretion, shall notify the Tenants of the sale and transfer and shall contain appropriate instructions relating
to the payment of future rentals, the giving of future notices and other matters reasonably required by Buyer or required by law.
Unless a different procedure is required by applicable law, in which event such laws shall be controlling, Buyer agrees to transmit
or otherwise deliver such letters to the Tenant promptly after the Closing.

 

    	 	15	 

     

    

 

ARTICLE 6

TERMINATION AND DEFAULT

 

6.1          Buyer
Default. If the sale contemplated hereby is not consummated because of a material default by Buyer in its obligation
to purchase the Property in accordance with the terms of this Agreement, after Seller has performed or tendered performance of
all of its material obligations in accordance with this Agreement, then, upon written notice from Seller to Buyer, (a) this Agreement
shall terminate; (b) the Deposit shall be paid to and retained by Seller as liquidated damages; and (c) Seller and Buyer shall
have no further obligations to each other, except those which expressly survive the termination of this Agreement. Buyer and Seller
acknowledge that the damages to Seller in the event of such a breach of this Agreement by Buyer would be difficult or impossible
to determine, that the amount of the Deposit represents the parties’ best and most accurate estimate of the damages that
would be suffered by Seller if the transaction should fail to close and that such estimate is reasonable under the circumstances
existing as of the date of this Agreement and under the circumstances that Seller and Buyer reasonably anticipate would exist at
the time of such breach. Buyer and Seller agree that Seller’s right to retain the Deposit shall be Seller’s sole remedy,
at law and in equity, for Buyer’s failure to purchase the Property in accordance with the terms of this Agreement. Seller
hereby waives any right to an action for specific performance of any provisions of this Agreement.

 

6.2          Seller’s
Default.  If the sale contemplated hereby is not consummated because of a material default of Seller, then, so long
as Buyer has performed or tendered performance of all of Buyer’s material obligations in accordance with this Agreement,
and upon written notice from Buyer to Seller, Buyer shall have the right to exercise any of the following remedies:

 

6.2.1       Waive
such failure and proceed to the Closing with no reduction in the Purchase Price; provided, however, that this provision will not
limit Buyer’s right to receive reimbursement for reasonable attorney’s fees pursuant to Section 9.9 below in connection
with any legal proceedings instituted by either party or Escrow Holder with respect to the enforcement of this Agreement, nor waive
or affect Seller’s indemnity obligations under this Agreement or Buyer’s rights to enforce those indemnity obligations,
nor waive or affect any of Seller’s other obligations under this Agreement to be performed after the Closing or Buyer’s
rights to enforce those obligations.

 

6.2.2       Treat
this Agreement as being in full force and effect and pursue an action for specific performance to cause Seller to convey the Property
to Buyer pursuant to the terms and conditions of this Agreement; provided, however, Buyer must commence any such actions for specific
performance within sixty (60) days of the Closing Date.

 

6.2.3       Terminate
this Agreement by notice to Seller to that effect, in which event the parties hereto shall have no further obligations hereunder
except those which expressly survive termination hereof, and Buyer shall be entitled to (i) recover the full amount of the Deposit,
and (ii) recover up to $20,000.00 for actual third-party out-of-pocket expenses incurred in connection with Buyer’s inspection
and due diligence investigation of the Property.

 

    	 	16	 

     

    

 

6.2.4       Except
as expressly set forth in this Agreement, Buyer waives any right to pursue any other remedy at law or equity for such default of
Seller, including, without limitation, any right to seek, claim or obtain damages, punitive damages or consequential damages.

 

ARTICLE 7

CASUALTY DAMAGE OR
CONDEMNATION

 

7.1          Casualty.
If the Improvements are damaged by casualty prior to the Closing and the cost for repair is reasonably estimated by Seller to exceed
the sum of $300,000.00, Buyer shall have the option, in Buyer’s sole and absolute discretion, to elect either to:

 

(a)          acquire
the Property as is (without reduction in the Purchase Price), plus an assignment from Seller without recourse or credit of any
insurance proceeds payable by virtue of such loss or damage, plus a credit for any deductible under said policy and a credit for
any uninsured loss; or

 

(b)          terminate
this Agreement and receive back the Deposit.

 

Such right
must be exercised within thirty (30) days from the earlier of the date Seller provides Buyer with notice of the loss of the event
giving rise to such right. If Buyer fails to provide notice of an election, then Buyer shall have been deemed to elect (b) above.

 

If the
Improvements are damaged by casualty prior to Closing and the cost for repair is reasonably estimated by Seller (as set forth in
this Section 7.1) not to exceed the sum of $300,000.00, then Buyer shall acquire the Property in accordance with Section 7.1(a)
of this Agreement.

 

7.2          Condemnation.
In the event that a condemnation proceeding shall be initiated against any material portion of the Real Property prior to the Closing,
Buyer shall have the option, in Buyer’s sole and absolute discretion, to elect either to:

 

(a)          terminate
this Agreement and receive back the Deposit; or

 

(b)          close
the transaction contemplated by this Agreement.

 

In all other cases,
or if Buyer elects to proceed under Section 7.2(b), Buyer shall purchase the Property in accordance with the terms hereof
(without reduction in the Purchase Price) and Seller shall assign to Buyer at Closing all condemnation proceeds payable as a result
of such condemnation. Buyer shall be deemed to have elected to proceed under Section 7.2(b) unless, within thirty (30)
days from the earlier of written notice of the condemnation, Buyer provides Seller with written notice that Buyer elects to terminate
this Agreement pursuant to Section 7.2(a).

 

    	 	17	 

     

    

 

ARTICLE 8

REAL ESTATE COMMISSION

 

8.1          Commissions.
Buyer and Seller each represent to the other that no broker’s or real estate commissions or other fees are or shall be due
in respect to this transaction by reason of any agreement made or which may be alleged to have been made by Buyer or Seller other
than to Commonwealth Commercial Partners, LLC, which has represented Seller in this transaction. Buyer is not represented by a
broker in this transaction. Oral or written notification was provided to both parties regarding brokerage representation prior
to any substantive real estate discussions. At Closing, Seller shall pay a commission totaling two and one quarter percent (2.25%)
of the Purchase Price to Commonwealth Commercial Partners, LLC pursuant to the terms of a separate agreement. Each party agrees
to indemnify and hold harmless the other from and against any and all other claims, demands or the cost or expense thereof, including
reasonable attorney’s fees, arising out of any broker’s commission, fee or other compensation due or alleged to be
due in connection with the transactions contemplated by this Agreement based upon an agreement alleged to have been made or other
action alleged to have been taken by the indemnifying party.

 

ARTICLE 9

MISCELLANEOUS

 

9.1          Entire
Agreement. This Agreement constitutes the entire agreement between the parties hereto with respect to the transactions
contemplated herein, and it supersedes all prior discussions, understandings or agreements between the parties. All Exhibits and
Schedules attached hereto are a part of this Agreement and are incorporated herein by reference.

 

9.2          No
Third-Party Beneficiaries. The parties acknowledge and agree that there are no third-party beneficiaries of this Agreement.

 

9.3          Binding
On Successors and Assigns. Subject to Section 9.4, this Agreement shall be binding upon and inure to the benefit
of the parties hereto and their respective successors and assigns.

 

9.4          Assignment
by Buyer.  Buyer shall have the right to assign this Agreement to any entity affiliated with Buyer together with
(at Buyer’s option) an unaffiliated tenant-in-common investor in the Property, and no consent on the part of Seller shall
be required for such assignment; provided, however, that Seller shall not be released from this Agreement by any such assignment,
and Buyer shall provide written notice to Seller of such assignment at least five (5) days prior to the Closing.

 

9.5          Waiver.
 The excuse or waiver of the performance by a party of any obligation of the other party under this Agreement shall only be
effective if evidenced by a written statement signed by the party so excusing or waiving. No delay in exercising any right or remedy
shall constitute a waiver thereof, and no waiver by Seller or Buyer of the breach of any covenant of this Agreement shall be construed
as a waiver of any preceding or succeeding breach of the same or any other covenant or condition of this Agreement.

 

9.6          Governing
Law. This Agreement shall be governed by and construed under the internal laws of the Commonwealth of Virginia,
without regard to the principles of conflicts of law. Any legal proceeding, by either party to this Agreement shall be filed in
the appropriate court system in Hanover County, Virginia.

 

    	 	18	 

     

    

 

9.7          Counterparts
and Signatures. This Agreement may be executed in any number of counterparts, and it shall be sufficient that the
signature of each party appear on one or more such counterparts. All counterparts shall collectively constitute a single agreement.
Signatures transmitted by e-mail or facsimile shall be treated as original signatures for all purposes of this Agreement.

 

9.8          Notices.
All notices or other communications required or provided to be sent by either party shall be in writing and shall be sent by: (i) United
States Postal Service, certified mail, return receipt requested; (ii) any nationally known overnight delivery service for
next day delivery; (iii) facsimile with written confirmation of receipt from sending facsimile machine; (iv) delivered
in person; or (v) e-mail. All notices shall be deemed to have been given on the date when deposited with the US Mail or with any
other nationally known overnight delivery service, on the date when a facsimile or e-mail is sent or on the date of personal delivery.
All notices shall be addressed to the parties at the addresses below:

 

	To Seller:	c/o Commonwealth Commercial
	 	4198 Cox Road, Suite 200
	 	Glen Allen, Virginia 23060
	 	Attention: Mark Claud
	 	Telephone: 804.346.5901
	 	Email: mclaud@commonwealthcommercial.com
	 	 
	And with copy to:	LeClairRyan
	 	919 East Main Street
	 	Twenty-Fourth Floor
	 	Richmond, Virginia 23219
	 	Attention: Katja H. Hill
	 	Facsimile: 804.783.7669
	 	Email: katja.hill@leclairryan.com
	 	 
	To Buyer:	Medalist Diversified Holdings, L.P.
	 	c/o Medalist Properties
	 	11 S. 12th Street, Suite 401
	 	Richmond, VA 23219
	 	Attn: William R. Elliott
	 	Telephone: (804) 344-4434
	 	Email: bill.elliott@medalistprop.com
	 	 
	And with a copy to:	Kaplan Voekler Cunningham & Frank, PLC
	 	1401 E. Cary Street
	 	Richmond, Virginia 23219
	 	Attn:  Zachary Grabill, Esq.
	 	Telephone: (804) 823-4071
	 	Facsimile: (804) 823-4099
	 	E-mail: zgrabill@kv-legal.com

 

    	 	19	 

     

    

 

Any address or name specified above may
be changed by notice given to the addressee by the other party in accordance with this Section 9.8. The inability to deliver
notice because of a changed address of which no notice was given as provided above, or because of rejection or other refusal to
accept any notice, shall be deemed to be the receipt of the notice as of the date of such inability to deliver or rejection or
refusal to accept. Any notice to be given by any party hereto may be given by the counsel for such party.

 

9.9          Attorneys’
Fees. In the event of a judicial or administrative proceeding or action by one party against the other party with
respect to the interpretation or enforcement of this Agreement, the prevailing party shall be entitled to recover reasonable costs
and expenses including, without limitation, reasonable attorneys’ fees and expenses, whether at the investigative, pretrial,
trial or appellate level. The prevailing party shall be determined by the court based upon an assessment of which party’s
major arguments or position prevailed.

 

9.10        IRS
Real Estate Sales Reporting. Buyer and Seller agree that Escrow Holder shall act as “the person responsible
for closing” the transaction which is the subject of this Agreement pursuant to Internal Revenue Code Section 6045(e) and
shall prepare and file all informational returns, including without limitation, IRS Form 1099-S, and shall otherwise comply with
the provisions of Internal Revenue Code Section 6045(e).

 

9.11        Time
Periods. If the time for performance of any obligation hereunder expires on a day that is not a Business Day, the
time for performance shall be extended to the next Business Day.

 

9.12        Modification
of Agreement. No modification of this Agreement shall be deemed effective unless in writing and signed by the party
against whom enforcement is sought.

 

9.13        Further
Instruments. Each party, promptly upon the request of the other, shall execute and have acknowledged and delivered
to the other or to the Escrow Holder, as may be appropriate, any and all further instruments reasonably requested or appropriate
to evidence or give effect to the provisions of this Agreement and which are consistent with the provisions of this Agreement.
This provision shall survive the Closing.

 

9.14       Descriptive
Headings; Word Meaning. The descriptive headings of the paragraphs of this Agreement are inserted for convenience
only and shall not control or affect the meaning or construction of any provisions of this Agreement. Words such as “herein,”
 “hereinafter,” “hereof’ and “hereunder” when used in reference to this Agreement, refer to
this Agreement as a whole and not merely to a subdivision in which such words appear, unless the context otherwise requires. The
singular shall include the plural and the masculine sender shall include the feminine and neuter, and vice versa, unless the context
otherwise requires. The word “including” shall not be restrictive and shall be interpreted as if followed by the words
 “without limitation.”

 

9.15       Business
Day. As used herein, the term “Business Day” means any day other than Saturday, Sunday
and any day which is a legal holiday in the Commonwealth of Virginia.

 

    	 	20	 

     

    

 

9.16       Construction
of Agreement. This Agreement shall not be construed more strictly against one party than against the other merely
by virtue of the fact that it may have been prepared primarily by counsel for one of the parties, it being recognized that both
Buyer and Seller have contributed substantially and materially to the preparation of this Agreement.

 

9.17       Severability.
The parties hereto intend and believe that each provision in this Agreement comports with all applicable local, state and federal
laws and judicial decisions. However, if any provision in this Agreement is found by a court of law to be in violation of any applicable
local, state or federal law, statute, ordinance, administrative or judicial decision, or public policy, or if in any other respect
such a court declares any such provision to be illegal, invalid, unlawful, void or unenforceable as written, then it is the intent
of all parties hereto that, consistent with and with a view towards preserving the economic and legal arrangements among the parties
hereto as expressed in this Agreement, such provision shall be given force and effect to the fullest possible extent, and that
the remainder of this Agreement shall be construed as if such illegal, invalid, unlawful, void or unenforceable provision were
not contained herein, and that the rights, obligations and interests of the parties under the remainder of this Agreement shall
continue in full force and effect.

 

9.18       Exclusivity.
After the Effective Date, Seller and its respective agents, representatives and employees shall immediately cease all marketing
of the Property until such time as this Agreement is terminated and Seller shall not directly or indirectly make, accept, negotiate,
entertain or otherwise pursue any offers for the sale of the Property.

 

9.19       Section 1031
Exchange. Either party may consummate the purchase or sale of the Property as part of a so-called like kind exchange
(an “Exchange”) pursuant to section 1031 of the Internal Revenue Code of 1986, as amended (the “Code”),
provided that (i) the Closing shall not be delayed or affected by reason of an Exchange nor shall the consummation or accomplishment
of any Exchange be a condition precedent or condition subsequent to a party’s obligations under this Agreement; (ii) any
party desiring an Exchange shall effect its Exchange through an assignment of this Agreement, or its rights under this Agreement,
to a qualified intermediary and the other party shall not be required to take an assignment of the purchase agreement for the relinquished
or replacement property or be required to acquire or hold title to any real property for purposes of consummating such Exchange;
and (iii) the party desiring an Exchange shall pay any additional costs that would not otherwise have been incurred by Buyer
or Seller had such party not consummated its purchase or sale through an Exchange. Neither party shall by this agreement or acquiescence
to an Exchange desired by the other party (1) have its rights under this Agreement affected or diminished in any manner or
(2) be responsible for compliance with or be deemed to have warranted to the other party that such party’s Exchange
in fact complies with section 1031 of the Code.

 

    	 	21	 

     

    

 

9.20       Record
Access and Retention. At Buyer’s request, Seller shall promptly provide to Buyer (at Buyer’s expense) copies
of, or shall provide Buyer reasonable access to, such factual information as may be reasonably requested by Buyer, and in the possession
or control of Seller, or its property manager or accountants, to enable Buyer’s auditor to conduct an audit, in accordance
with Rule 3-14 of Securities and Exchange Commission Regulation S-X, of the income statements of the Property for the year to date
of the year in which Closing occurs plus the two (2) immediately preceding calendar years (provided, however, that other than fees
paid or payable to Seller, a Seller affiliate or a third party for on-site property management, such audit shall not include an
audit of asset management fees internally allocated by Seller (as opposed to paid to a third party) or interest expenses attributable
to the Seller). Buyer shall be responsible for all out-of-pocket costs associated with any such audit. Seller shall reasonably
cooperate (at no cost to Seller) with Buyer’s auditor in the conduct of such audit. In addition, to the extent available
Seller agrees to provide to Buyer or any affiliate of Buyer, if requested by such auditor, historical financial statements for
the Property, including (without limitation) income and balance sheet data for the Property, whether required before or after Closing.
Without limiting the foregoing, (i) Buyer or its designated independent or other auditor may audit Seller’s operating statements
of the Property, at Buyer’s expense, and, to the extent available, Seller shall provide such documentation as Buyer or its
auditor may reasonably request in order to complete such audit, and (ii) Seller shall, to the extent available, furnish to Buyer
such financial and other information as may be reasonably required by Buyer or any affiliate of Buyer to make any required filings
with the Securities and Exchange Commission or other governmental authority. Seller shall maintain its records for use under this
Section 9.20 for a period of not less than twelve (12) months after the Closing Date. The provisions of this Section shall survive
Closing.

 

[Remainder of page intentionally left
blank; signatures to follow on next pages.]

 

    	 	22	 

     

    

 

IN WITNESS WHEREOF,
the parties hereto have executed this Agreement as of the date first written above.

 

	SELLER:	COF NORTH, LLC, a Virginia limited liability company
	 	 	 
	 	By:	/s/
	 	Name:	Mark W. Cling
	 	Title:	Manager
	 	 	 
	 	COF NORTH II, LLC, a Virginia limited liability company
	 	 	 
	 	By:	/s/
	 	Name:	Mark W. Cling
	 	Title:	Manager

 

    	 	23	 

     

    

 

	BUYER:	MEDALIST DIVERSIFIED HOLDINGS, L.P., a Delaware limited partnership
	 	 	 
	 	By:	/s/William R. Elliott
	 	 	William R. Elliott, Authorized Signatory

 

    	 	24	 

     

    

 

CONSENT OF ESCROW HOLDER

 

The undersigned Escrow
Holder hereby agrees to (i) accept the foregoing Agreement, (ii) be Escrow Holder under said Agreement and (iii) be
bound by said Agreement in the performance of its duties as Escrow Holder; provided, however, the undersigned shall have no obligations,
liability or responsibility under this Consent or otherwise unless and until said Agreement, fully signed by the parties, has been
delivered to the undersigned.

 

	DATED:__________	 
	 	 	 
	 	By:	 
	 	Its:	 

 

    	 	25	 

     

    

 

EXHIBIT A

 

LEGAL DESCRIPTION

 

 

    	 	EXHIBIT A
 1
	 

     

    

 

EXHIBIT B

 

LIST OF PERSONAL PROPERTY

 

None

 

    	 	EXHIBIT B
 1
	 

     

    

 

EXHIBIT C

 

RENT ROLL

 

(see attached)

 

    	 	EXHIBIT C
 1
	 

     

    

 

EXHIBIT D

 

CURRENT PROPERTY CONTRACTS

 

[To be Attached in the Following Format]

 

	Contract	 	Description	 	Date
	Contractor Service Agreement	 	James River Grounds Management	 	10/31/17
	Management Agreement	 	Commonwealth Commercial Partners	 	2/21/2017
	Service Agreement	 	Republic Services	 	9/16/16
	Service Contract	 	Western Pest Services	 	9/16/15

 

    	 	EXHIBIT D
 1
	 

     

    

 

EXHIBIT E

 

PROPERTY INFORMATION

 

		1	Seller's form of lease agreement used at the Property

 

		2	List and copy of all service contracts and equipment leases along with terms and cancellation clauses
(security, landscaping, advertising, etc.).

 

		3	Any property locator or similar agreements (other than agreements with the Property Manager), if
any, pertaining to the marketing and advertisement of the Property for leasing (and payment of commissions in connection therewith),
but only to the extent the same will remain in effect after the Closing.

 

		4	To the extent in Seller’s possession, ad valorem and personal property tax statements for
the current year, and the status of any pending appeal. Copy of real estate tax bills for the past three years.

 

		5	Current operating statements for the Property, and to the extent available and in Seller's possession,
for each of the three years prior to the year in which the Effective Date occurs in which Seller was the owner of the Property.
Include year-to-date operating statements by month, delivered by Seller monthly as soon as available through closing including
the last month post-closing.

 

		6	3 years of insurance loss runs from the insurer. Also, a summary of pending insurance claims and
pending litigation, if any, provided that such summary shall be prepared to Seller's knowledge and Seller makes no representations
or warranties regarding the outcome of such claims or litigation

 

		7	To the extent available and in Seller's possession, guaranties or warranties with respect to the
roof of the Property, if any

 

		8	Copies of any certificates of occupancy and/or other licenses and permits, to the extent available
and in Seller's possession

 

		9	Copy of all leases and occupancy agreements, and all amendments, notices or supplements related
thereto.

 

		10	Current Rent Roll and Certification.  The Rent Roll should show the tenant’s name, suite/unit,
base rent and market rent for space, concessions, tenant improvement allowance, CAM charges, tax charges, lease commencement,
lease expiration. Updated copies should be made available up through closing upon reasonable request from Buyer.

 

    	 	EXHIBIT E
 1
	 

     

    

 

EXHIBIT F

 

FORM OF DEEDS

 

	Prepared by:	Consideration:    $____________
	______________________	Assessed Value:  $___________
	______________________	 
	______________________	 
	______________________	 
	 	Title Insurance Company: ____________

 

Return to:

_________________

_________________

_________________

 

Tax Parcel No.: _______________

 

THIS DEED, made
as of this ____ day of ___________, 2018, is by and between COF NORTH [II], LLC, a Virginia limited liability company
("Grantor"), and _____________ ("Grantee").

 

WITNESSETH:

 

That for and in consideration
of the sum of Ten and 00/100 Dollars ($10.00) cash in hand paid, and other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the Grantor does hereby grant and convey, with SPECIAL WARRANTY, unto the Grantee, the following
described property, to-wit:

 

    	 	EXHIBIT F
 1
	 

     

    

 

SEE EXHIBIT A ATTACHED HERETO

 

AND INCORPORATED HEREIN BY REFERENCE

 

The above-described
property is conveyed subject to the reservations, encumbrances, covenants, conditions, restrictions and easements, if any, duly
of record.

 

IN WITNESS WHEREOF,
Grantor has caused its name to be signed to these presents and sealed the day and year first above written.

 

	 	COF NORTH [II], LLC.	 
	 	a Virginia limited liability company	 
	 	 	 
	 	By:	 	 
	 	Name:	 	 
	 	Title:	 	 

 

STATE OF _________________,

	CITY/COUNTY OF ______________,	to-wit:

 

I, ____________________________,
a Notary Public in and for said City/County and State, do hereby certify that ____________, whose name is signed to the foregoing
instrument bearing date as of the ____ day of __________, 2018, has acknowledged the same before me in my County and State aforesaid.

 

Given under my hand
and Notarial Seal this ___ day of ____________________, 2018.

 

	 	 	 
	 	Notary Public	 

 

My Commission Expires: _______________

State of _____________________________

 

[SEAL]

 

    	 	EXHIBIT F
 2
	 

     

    

 

EXHIBIT G

 

FORM OF BILL OF SALE
AND ASSIGNMENT

 

BILL OF SALE, ASSIGNMENT AND ASSUMPTION
OF

PERSONAL PROPERTY, CONTRACTS, WARRANTIES
AND LEASES

 

COF
NORTH, LLC and COF NORTH II, LLC, each a Virginia limited liability
company (collectively, the “Grantor”), for and in consideration of the sum of Ten and No/100 Dollars ($10.00)
and other good and valuable consideration to it in hand paid by ______________,
a Delaware limited liability company (“Grantee”), the receipt and sufficiency of which are hereby acknowledged,
has granted, sold, assigned, transferred, conveyed, and delivered and does by these presents grant, sell, assign, transfer, convey
and deliver unto Grantee, all of Grantor’s rights, titles, and interests in and to the following described properties located
in, affixed to, and/or arising or used in connection with the improved property with parking and other amenities (the “Project”)
situated on the land in the County of Hanover, Virginia, more particularly described on Exhibit A, attached hereto
and made a part hereof for all purposes (the “Land” which together with the Project is sometimes hereinafter
called the “Property”):

 

A.           Leases.
All leases set forth on the Rent Roll attached hereto as Exhibit B and made a part hereof for all purposes (the “Leases”).

 

B.           Tangible
Personal Property. All furniture, furnishings, fixtures, equipment, machinery, building materials, and other tangible personal
property owned by Grantor that is now affixed to and/or located on the Property and used in connection with the management, operation,
or repair of the Property (the “Tangible Personal Property”).

 

C.           Contracts.
Any and all service, maintenance, supply or operating contracts, or other agreements, however termed, written or oral, affecting
the use, ownership, maintenance, or operation of all or any part of the Property in effect as of the date hereof (the “Contracts”).

 

D.           Intangible
Property. Any and all rights to the name of the Project, advertising copy and promotional materials used by Grantor in connection
with the Property, intangible property that is used by Grantor in connection with the operation of the Property, including but
not limited to the name “Franklin Square” and any associated logos or trademarks, guaranties, warranties, telephone
exchange numbers, architectural and engineering plans and specifications, and development rights that exist as of the date hereof,
if any (the “Intangible Property”).

 

E.           All
rights, which the Seller may have, if any, in and to any Tenant data, telephone numbers and listings, all master keys and keys
to common areas, all good will, if any, and any and all other rights, privileges and/or appurtenances owned by Seller and related
to or used in connection with the existing business operation of the Land and/or Improvements (collectively, the “Miscellaneous
Property”).

 

    	 	EXHIBIT G
 1
	 

     

    

 

Grantor and Grantee
hereby covenant and agree as follows:

 

(i)          Grantee
accepts the aforesaid assignments as of the date below and Grantee assumes and agrees to be bound by and timely perform, observe,
discharge, and otherwise comply with each and every one of the agreements, duties, obligations, covenants and undertakings upon
the lessor’s part to be kept and performed under the Leases from and after the date hereof and any obligations of Grantor
under the Contracts from and after the date hereof.

 

(ii)         Grantee
hereby agrees to indemnify and hold harmless Grantor from any and all liability, loss, cost, damage or expense (including, without
limitation, reasonable attorneys’ fees) which Grantor incurs under the Leases or Contracts from any and all claims and demands
whatsoever which are asserted against Grantor by reason of any alleged failure of Grantor to perform an obligation or undertaking
under the Leases or Contracts to be performed after the Effective Date. Grantor hereby agrees to indemnify and hold harmless Grantee
from any and all liability, loss, cost, damage or expense (including, without limitation, reasonably attorneys’ fees) which
Grantee incurs under the Leases or Contracts from any and all claims and demands whatsoever which are asserted against Grantee
by reason of any alleged failure of Grantor to perform an obligation or undertaking which was to have been performed under the
Leases or Contracts on or before the Effective Date.

 

(iii)        Except
as aforesaid, this Agreement shall bind and inure to the benefit of the parties hereto and their respective successors, legal representatives
and assigns.

 

(iv)        Grantor
represents and warrants to Grantee that Grantor owns fee simple title to the Tangible Personal Property free from any liens or
encumbrances.

 

(v)         Neither
this Agreement nor any term, provision, or condition hereof may be changed, amended or modified, and no obligation, duty or liability
or any party hereby may be released, discharged or waived, except in a writing signed by all parties hereto.

 

(vi)        Capitalized
but otherwise undefined terms used herein shall have the meanings ascribed to them in that certain Real Estate Purchase and Sale
Agreement dated ________, between Grantor and Medalist Diversified Holdings, L.P., a Delaware limited partnership.

 

[Signatures appear on
the following page]

 

    	 	EXHIBIT G
 2
	 

     

    

 

IN WITNESS WHEREOF, Grantor and Grantee
have executed this Bill of Sale, Assignment of Personal Property, Contracts, Warranties and Leases as of _____________.

 

	GRANTEE:	[BUYER ENTITY],	 
	 	a Delaware limited liability company	 
	 	 	 	 
	 	By:	 	 
	 	 	William R. Elliott	 
	 	 	Authorized Signatory	 
	 	 	 	 
	GRANTOR:	 	 	 
	 	 	 	 
	 	COF NORTH, LLC, a Virginia limited liability company
	 	 	 	 
	 	By:	 	 
	 	 	 	 
	 	Name:	 	 
	 	 	 	 
	 	Title:	 	 
	 	 	 	 
	 	COF NORTH II, LLC, a Virginia limited liability company
	 	 	 	 
	 	By:	 	 
	 	 	 	 
	 	Name:	 	 
	 	 	 	 
	 	Title:	 	 

 

    	 	EXHIBIT G
 3
	 

     

    

 

Schedule 4.1.12

 

None

 

    Schedule 4.1.12Exhibit 10.24

 

PROMISSORY
NOTE

 

	Principal	 	 	Loan Date	 	Maturity	 	Loan No.	 	Call/Coll	 	 	Account	 	 	Officer	 	Initials	 
	$	8,600,000.00	 	 	11-3-2017	 	12-1-2027	 	5510059503301	 	 		 	 	 		 	 	DJ	 	 		 

 

References in the
boxes above are for Lender’s use only and do not limit the applicability of this document to any particular loan or Item Any item
above containing •••••·has been omitted due to text length limitations

 

	Borrower:	
        COF North, LLC, a Virginia limited liability company

        4198 Cox Road, Suite 200

        Glen Allen, VA 23060
	Lender:	
        Langley Federal Credit Union

        721 Lakefront Commons

        Newport News, VA 23606

 

 

 

IMPORTANT NOTICE

 

THIS INSTRUMENT CONTAINS A CONFESSION OF JUDGMENT
PROVISION WHICH CONSTITUTES A WAIVER OF IMPORTANT RIGHTS YOU MAY HAVE AS A DEBTOR AND ALLOWS THE CREDITOR TO OBTAIN A JUDGMENT
AGAINST YOU WITHOUT ANY FURTHER NOTICE.

 

	Principal Amount:	$8,600,000.00	Date of Note:	November 3, 2017

 

PROMISE
TO PAY. COF North, LLC, a Virginia limited liability company (“Borrower”) promises to pay to Langley Federal Credit Union
(“Lender”), or order, In lawful money of the United States of America, the principal amount of Eight Minion Six Hundred
Thousand & 00/100 Dollars ($8,600,000.00), together with interest on the unpaid principal balance from November 1,2017, until
paid In full.

 

PAYMENT.
Subject to any payment changes resulting from changes In the Index, Borrower pay this loan In accordance with the following payment
schedule, which calculates Interest on the unpaid principal balance as described In the “INTEREST CALCULATION METHOD”
paragraph using the interest rates described In this paragraph: 60 monthly consecutive principal and Interest payments In the initial
amount of S49,n4.06 each, beginning January 1,2018, with Interest calculated on the unpaid principal balances using an interest
rate of 4.900%; 59 monthly consecutive principal and Interest payments beginning January 1,2023, with interest calculated on the
unpaid principal balances using an interest rate based on
the Index described below, plus a margin of 3.100 percentage points, adjusted If necessary for the minimum and maximum rate limitations
for this loan; and one principal and Interest payment of December 1, 2027, with Interest calculated on the unpaid principal balances
using an Interest rate based on the Index described below, plus a margin of 3.100 percentage points, adjusted If necessary for
the minimum and maximum rate limitations for this loan. The final payment wl11 be for all principal and accrued interest not yet
paid, together with any other unpaid amounts under this Note. Unless otherwise agreed or required by applicable law, payments will
be applied to any accrued unpaid interest. Borrower will pay Lender at Lender’s address shown above or at such other place as Lender
may designate In writing. All payments must be made In U.S. dollars and must be received by Lender consistent with any written
payment Instructions provided by Lender. If a payment Is made consistent with Lender’s payment
instructions but received after 4:00 PM Eastern Time, Monday through Friday or payments made during holidays or weekends, Lender
will credit Borrower’s payment on the next business day.

 

VARIABLE INTEREST RATE.
The Interest rate on this Note Is subject to change from time to time based on changes
In an Independent index which the daily average yield on United Stale Treasury securities adjusted to a constant maturity of
five years. as made available by the Federal Reserve Board (the “Index’). The Index is not necessarily the lowest rate
charged by Lender on its loans. If the Index becomes unavailable during the term of this
loan, Lender may designate a substitute Index after notifying Borrower. Lender will tell Borrower if the current Index rate
upon Borrower’s request. The Interest rate change will not occur more often than each 5 years. Borrower understands
that Lender may make loans based on other rates as well. The interest rate or rates to be applied to the unpaid principal
balance during this Note will be the rate or rates set forth herein in the “Payment” section. Notwithstanding any
other provision of this Note after the first payment stream, the Interest rate for each subsequent payment stream will be
effective as of the due date of the last payment In the just-ending payment stream. NOTICE. Under no circumstances will the
Interest rate on this Note be less than 4.9000% per annum or more than the maximum rate allowed by applicable law. Whenever
Increases occur In the Interest rate, Lender, at its option may do one or more of the following:(A) increase Borrower’s
payments to ensure Borrower’s loan will pay off by its original final maturity date. (B) increase Borrower’s payments to
cover accruing Interest, (C) increase the
number of Borrower’s payments, and (0) continue Borrower’s payments at the
same amount and increase Borrower’s final payment

 

INTEREST
CALCULATION METHOD: Interest on this Note Is computed on a 30/360 simple Interest basis; that Is, with the exception of odd days
before the first full payment cycle, monthly Interest Is calculated by applying the ratio of the Interest rate over a year of 360
days, multiplied by the outstanding principal balance, multiplied by a month of 30 days. Interest for the odd days before the first
full month is calculated on the basis of the actual days and a 360-day year. All Interest payable under this Note Is computed using
this method.

 

PREPAYMENT.
Borrower agrees that au roan fees and other prepaid finance charges are earned fully as of the date of the loan and will not be
subject to refund upon early payment (whether voluntary or as a result of default). except as otherwise required by law Except
for the foregoing, Borrower may pay without penalty all or a portion of the amount owed earlier that is due. Early payments win
not, unless agreed to by Lender In writing, relieve Borrower of Borrower’s obligation to continue to make payments under the payment
schedule, Rather, early payments win reduce the principal balance due and may result in Borrower’s making fewer payments. Borrower
agrees not to send Lender payments marked ‘paid in full, “without recourse”, or similar language. If Borrower sends
such a payment, Lender may accept It without losing any of Lender’s rights under this Note, and Borrower will
remain obligated lo pay any further amount owed to Lender. All written communications concerning disputed amounts, Including any
check or other payment Instrument that Indicated that the payment constitutes “payment In full” of the amount owed or
that is tendered with other conditions or limitations or as full satisfaction of a disputed amount must be mailed or delivered
to: Langley Federal Credit Union, Commercial Lending Department, 721 Lakefront Commons, Suite 105 Newport News, VA 23606.

 

LATE CHARGE. All payment is
15 days or more late, Borrower will be charged
5.000% of the unpaid portion of the regularly schedules payment.

 

INTEREST
AFTER DEFAULT. Upon default. Including failure to pay upon final maturity, the Interest rate on this Note shall be
increased by adding an additional 2.000 percentage point margin (‘Default Rate Margin’). The Default Rate Margin shall also apply
each succeeding interest rate change th.at would have applied had there been no default. After maturity, or after this Note would
have matured had there been no default, the Overall Rate Margin will continue to apply to the final interest rate described in
this Note. However, in no event will the interest rate exceed the maximum interest rate limitations under applicable law.

 

     

     

    

 

PROMISSORY
NOTE

 

	Loan No:	5510059503301	(Continued)	Page 2

 

 

 

DEFAULT. Each of the follow
shall constitute an event of default (“Event or Default”) under this Note:

 

Payment Default. Borrower fails to make any payment
when due under this Note.

 

Other Defaults. Borrower fails
to comply Wi h or to perform any other term obligation, covenant or condition contained in this Note or in any of the related documents
to comply with or to perform any term, obligation, covenant or condition contained in any other agreement between Lender and Borrower

 

Environmental
Default. Failure of any party to comply with or perform when due any term. obligation, covenant or condition contained in any environmental
agreement executed in connection with any loan.

 

False Statements.
Any warranty, representation or statement made or furnished to Lender by Borrower or on Borrower’s behalf, or made by Guarantor,
or any other guarantor, endorser, surety or accommodation party, under this Note or the related documents in connection with the
obtaining of the loan evidences by this Note or any security document directly or indirectly securing repayment of this Note is
false or misleading in any material respect. either now or al the lime made or furnished or becomes false or misleading at any
time thereafter.

 

Insolvency.
The dissolution or termination or Borrower’s existence as a going organization, or a trustee or receiver is appointed for Borrower
or for all or a substantial portion of the assets of Borrower. or Borrower makes a general assignment for the benefit or Borrower’s
creditors, or Borrower files for bankruptcy. or an Involuntary bankruptcy petition is filed against Borrower and such Involuntary
petition remains undismissed for sixty (60) days.

 

Creditor or
Forfeiture Proceedings. Commencement of foreclosure or forfeiture proceedings. whether by judicial proceeding, self-help, repossess
on or any other method.by any creditor of Borrower or by any governmental agency against any collateral securing the loan. This
includes a garnishment of any of Borrower’s accounts, including deposit accounts, with Lender. However, this Event of Default shall
not apply if there is a good faith dispute by Borrower as to the validity or reasonableness of the claim which is the basis of
the creditor or forfeiture proceeding and if Borrower gives Lender written notice of the creditor or forfeiture proceeding and
deposits with Lender monies or a surety bond for the creditor or forfeiture proceeding, in an amount determined by Lender, in its
sole discretion, as being an adequate reserve or bond for the dispute.

 

Execution; Attachment. Any
execution or attachment is levied against the Collateral, and such execution or attachment is not set aside, discharged or slayed
within thirty (30) days alter the same Is levied.

 

Change in Zoning or Public
Restriction. Any change in any zoning ordinance or regulation or any other public restriction is enacted, adopted or implemented.
that limits or defines the uses which may be made
of the Co lateral such that the present or intended use of the Collateral, as specified In the related documents, would be In
violation of such zoning ordinance or regulation or public restriction, as changed.

 

Default
Under Other Lien Documents. A default occurs under any other mortgage. deed of trust or security agreement covering an or any portion
of the Collateral

 

Judgment. Unless adequately
covered by insurance in the opinion of Lender, the entry of a final judgment for the payment of money involving more than ten thousand
dollars (510.000 00) against Borrower and the failure by Borrower to discharge the same or cause it to be discharged or bonded
off to Lender’s satisfaction within thirty (30) days from the date of the order, decree or process under which or pursuant to which
such judgment was entered.

 

Events
Affecting Guarantor. Any of the preceding events occurs with respect to any Guarantor, or any other guarantor, endorser, surety.
or accommodation party of any of the indebtedness or any Guarantor or any other guarantor. endorser, surety, or accommodation party
dies or becomes incompetent or revokes or disputes the validity of, or liability guaranty of the Indebtedness evidenced by this
Note.

 

Adverse Change.
A mater al adverse change occurs in Borrower’s financial condition. or Lender believes the prospect of payment or performance of
this Note is Impaired.

 

Cure Provisions.
If any default , other than a default in payment, is curable and if Borrower has not been given a notice of a breach of the same
provision of this Note within the preceding six (6) months, it may be cured If Borrower, after Lender sends written notice to Borrower
demanding cure of such default: (1) cures the default within thirty (30) days; or (2) if the
cure requires more than thirty (30) days, immediately initiates steps which Lender deems in Lender’s sole discretion to be sufficient
to cure the default and thereafter continues and completes all reasonable and necessary steps sufficient to produce compliance
as soon as reasonably practical.

 

LENDER’S
RIGHTS. Upon default, Lender may declare the entire unpaid principal balance under this Note and all accrued unpaid Interest. together
with all other applicable fees, costs, and charges, if any, immediately due and payable, and then Borrower will pay that amount.

 

ATTORNEY’S FEES; EXPENSES. Subject
to any limits under applicable law, upon default, Borrower agrees to pay Lender’s attorney’s fees and an of Lender’s other collection
expenses, whether or not there is a lawsuit, including without limitation, legal fees and expenses for bankruptcy proceedings.

 

GOVERNING LAW. This Note will
be governed by federal law applicable to Lender and, to the extent not preempted by federal law, the laws of the Commonwealth of
Virginia without regard to Its conflicts of law provisions. This Note has been accepted by Lender In the Commonwealth of Virginia.

 

     

     

    

 

PROMISSORY
NOTE

 

	Loan No:	5510059503301	(Continued)	Page 3

 

 

 

CHOICE OF VENUE. If there is
a lawsuit, Borrower agrees upon Lender’s request to submit to the jurisdiction of the applicable courts for the City of Newport
News, Commonwealth of Virginia.

 

CONFESSION
OF JUDGMENT. Upon a default in payment of this Note at maturity, whether by acceleration or otherwise. Borrower hereby
irrevocably authorizes and empowers Natasha Merz, Curtis A. Baker, or an authorized officer of Langley Federal Credit Union,
any of whom may act as Borrower’s attorney-in-fact to appear in the Circuit Court of the City of Newport News clerk’s office
and to confess judgment against Borrower for the unpaid amount of this Note as evidenced by an affidavit signed by an officer
of Lender setting forth the amount then due, attorney’s fees plus costs of suit, and to release all errors, and waive all
rights of appeal. By a written instrument Lender may appoint a substitute for the above name attorney-in-fact. If a copy of
this Note, verified by an affidavit shall have been filed in the proceeding, it will not be necessary to file the original as
a warrant of attorney. Borrower waives the right to any stay of execution and the benefit of all exemption laws now or
hereafter in effect. No single exercise of the foregoing warrant and power to confess judgment will be deemed to exhaust the
power, whether or not any such exercise shall be held by any court to be
Invalid, voidable, or void; but the power will continue undiminished and may be
exercised from time to time as Lender may elect until all amounts owing on this Note have been paid in full.

 

STATUTORY LIEN. Borrower agrees
that all loan advances under this Note are secured by all shares and deposits in all joint and individual accounts Borrower has
with Lender now and in the future. Borrower authorizes Lender, to the extent permitted by applicable law, to apply the balance
In these accounts to pay any amounts due under this Note when Borrower is In default under this Note. Shares and deposits in an
Individual Retirement Account and any other account that would lose special tax treatment under state or federal law given as security
are not subject to the security interest Borrower has given in
Borrower’s shares and deposits.

 

COLLATERAL. Borrower acknowledges
this Note is secured by the following collateral described in the security Instruments listed herein·

 

(A)  a Credit
Line Deed of Trust dated November 3, 2017. to a trustee in favor of Lender on real property located in Hanover County, Commonwealth
of Virginia. The Real Property or its address is commonly known as 7230 Bell Creek Road, Mechanicsville, VA 23111.

 

(B)  an Assignment
of All Rents to Lender on real property located in Hanover County, Commonwealth of Virgin4a. The Real Property or its address Is
commonly known as 7230 Bell Creek Road, Mechanicsville, VA 23111.

 

(C) inventory, chattel paper, accounts, equipment,
general intangibles, fixtures, stand ng Umber and mineral, oil and gas described in a Commercial Security Agreement dated November
3, 2017.

 

FINANCIAL
STATEMENTS. Borrower agrees to provide Lender with such financial statements and other related information at such frequencies
and in such detail as Lender may reasonably request.

 

SUCCESSOR
INTERESTS. The terms of this Note shall be binding upon Borrower, and upon Borrower’s heirs, personal representatives, successors
and assigns, and shall inure benefit of Lender and Us successors and assigns

 

NOTIFY US
OF INACCURATE INFORMATION; WE REPORT TO CONSUMER REPORTING AGENCIES. Borrower may notify Lender If tender reports an
inaccurate information about Borrower’s account(s) to a consumer reporting agency. Borrower’s written notice describing the
specific inaccuracy(ies) should be sent to Lender at the following address: Langley Federal Credit Union Commercial Lending
Department 721 Lakefront Commons, Suite 105 Newport News. VA 23606.

 

GENERAL
PROVISIONS. If any part of this Note cannot be enforced, this fact will not affect the remaining provisions of the Note. Lender
may delay or forgo enforcing any of its rights or remedies under this Note without losing them. Borrower and any other person who
signs, guarantees or endorses this Note. to the extent allowed by law, waive presentment, demand for payment, and notice of dishonor.
Upon any change in the terms of this Note, and unless otherwise expressly stated in writing, no party who signs this Note, whether
as maker, guarantor, accommodation maker or endorser, shall be
released from liability. All such parties agree that Lender may renew or extend (repeatedly and for any length of lime) this loan
or release any party or guarantor or collateral or impair, fail to realize upon or perfect Lender’s security interest in the collateral
and take any other action deemed necessary by Lender without the consent of or notice to anyone. All such parties also agree that
Lender may modify this loan without the consent of or notice lo anyone other than the party with whom the modification is made.

 

PRIOR TO SIGNING THIS NOTE,
BORROWER READ AND UNDERSTOOD ALL THE PROVISIONS OF THIS NOTE, INCLUDING THE VARIABLE INTEREST RATE PROVISIONS. BORROWER AGREES
TO THE TERMS OF THE NOTE.

 

BORROWER ACKNOWLEDGES RECEIPT
OF A COMPLETED COPY OF THIS PROMISSORY NOTE.

 

THIS NOTE
IS GIVEN UNDER SEAL AND IT IS INTENDED THAT THIS NOTE IS AND SHALL CONSTITUTE AND HAVE THE EFFECT OF A SEALED
INSTRUMENT ACCORDING TO LAW.

 

     

     

    

 

PROMISSORY
NOTE

 

	Loan No:	5510059503301	(Continued)	Page 4

 

 

 

BORROWER:

 

COF NORTH, LLC, A VIRGINIA LIMITED LIABILITY COMPANY

 

By: COF NORTH MANAGEMENT, LLC, A VIRGINIA LIMITED
LIABILITY COMPANY, ITS MANAGER

 

	By:	/s/
    Mark     W. Claud    (Seal)	 
	Mark
    W. Claud, Manager	 
	 	 
	LENDER:	 
	 	 
	LANGLEY
    FEDERAL CREDIT UNION	 
	 	 	 
	X	/s/
    Natasha Mertz	 
	Authorized
    Signer	 

 

 

 

     

     

    

 

ADDENDUM TO LOAN DOCUMENTS

 

THIS
ADDENDUM TO LOAN DOCUMENTS (’‘Addendum’’) is made as of this 3rd day of November 2017, by and among
COF NORTH, LLC, a Virginia limited liability company (“Borrower”) MARK W. CLAUD (“Guarantor”) and LANGLEY FEDERAL
CREDIT UNION (’‘Lender’’). and is attached to and made a
part of the Business Loan Agreement, Promissory Note, Credit Line Deed of Trust, Assignment of Rents, Commercial Security Agreement,
Hazardous Substances Certificate and Indemnity Agreement, and Commercial Guaranty more particularly described below (collectively,
the “Loan Documents’”). The terms of
this Addendum shall supplement the Loan Documents, and in the case of conflict, the terms of this Addend um shall govern.

 

Recitals:

 

A.       Borrower has executed
and delivered to Lender a Business Loan Agreement, a $8,600,000.00 Promissory Note (the “Promissory
Note”), a Credit Line Deed of Trust, an Assignment of Rents, a Commercial Security Agreement, a Hazardous Substances
Certificate and Indemnity Agreement, and a Commercial Guaranty all doted as of the day and year first
above written.

 

B.       Borrower,
Guarantor and Lender desire to amend and supplement the terms of the Loan Documents as set forth herein.

 

C.       Capitalized
terms, not otherwise defined in this Addendum, shall have the same meanings us in the Loan Documents.

 

NOW, THEREFORE,
the parties hereto, in consideration of the mutual promises and covenants contained herein and in the Loan Documents, and other
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged. and intending to be legally bound
hereby, agree that the Loan Documents are amended and supplemented as follows:

 

1.       No
Event of Default shall be deemed to have occurred with respect to a failure to make a payment when due unless such failure continues
for more than fifteen (15) days after the date due.

 

2.       A
new paragraph to the Business Loan Agreement, the Promissory Note, the Credit Line Deed of Trust,
the Assignment of Rents, and the Commercial Security Agreement designated ’·Right to Cure·•
is hereby added to all of the Loan Documents incorporating the following language:

 

If any
default other than a default in payment, is curable, it shall not constitute an Event of Default if (a) cured within thirty (30)
days of written notice of the default being given by Lender to Borrower and any defaulting party to the Loan Documents other than
Borrower (the “Other Defaulting Party”), or (b) if the cure requires more than thirty (30) days, the Borrower or Other
Defaulting Party, if any, diligently initiates steps, on receipt of written notice of default from Lender. to cure the default
and thereafter continues and completes all reasonable and necessary steps to effect a cure as soon as reasonably practical.

 

     

     

    

 

3.       The
Loan Documents are hereby amended such that “attorneys’
fees” shall be revised to read “‘reasonable attorneys’ fees” in all instances.

 

4.       The
Guaranty Agreement shall not provide for a confession of judgment, and any such provision shall not be operative.

 

5.       Lender
shall not exercise any right or remedy against Borrower under the Assignment of Rents or under the provisions of the Credit Linc
Deed of Trust relating to assignment of rents, issues. and profits, including without limitation revocation of the license granted
to Borrower to manage and operate the Property and to collect. receive, and apply rents, issues, and profits, unless and until
an Event of Default has occurred.

 

6.       The “Environmental
Studies” paragraph appearing. in the Business Loan Agreement is hereby amended by adding the following language after the
phrase “requested by Lender” in the second line:

 

(but only in the event Lender reasonably believes
a release of Hazardous Substance(s) has occurred)

 

7.       The indemnity
or hold harmless obligations of Borrower under the Loan Documents shall not apply to claims, actions, liabilities, suits, judgments,
losses, fines, penalties, costs, expenses, or fees arising out of or caused by the gross negligence or intentional misconduct of
Lender or its employees or agents.

 

8.
       The “Financial Covenants and Ratios” paragraph in the Business Loan Agreement
is hereby amended to rend as follows:

 

DSCR
Ratio. Maintain a ratio of DSCR in excess of 1.350 to 1.000. Global Debt Service Coverage Ratio (DSCR) shall be calculated based
on the Borrower’s tiled Federal Income Tax Returns, Financial Statement(s) and Reports, as follows: cash flow divided by debt service.
This coverage ratio will be evaluated as of year-end annually beginning with the year ending
December 31, 2017.

 

9.
        Notwithstanding anything to the contrary set forth in the Loan Documents, the Borrower will maintain its books and finances on
a cash basis.

 

10.       Provided
that Borrower is not in default under the Loan Documents and provided that a loss does not exceed the sum of $100,000, Borrower
shall be entitled to receive all insurance proceeds and condemnation awards and proceeds paid or payable as a result of a casualty
or condemnation affecting the Property, so long as Borrower uses such sums to repair or restore the Property in a commercially
reasonable manner.

 

11.
     The “Power of Attorney” paragraph appearing in the Assignment of Rents is hereby
amended by adding the following sentence to the end of such paragraph:

 

    	 	2	 

     

    

 

The
powers granted in the preceding sentence shall not be exercised by Lender unless or until an Event of Default
has occurred under this Agreement.

 

12.       Any
inspections of the Collateral or the Property, both as defined in the Loan Documents, to be performed by Lender or its agents shall
not unreasonably interfere with Borrower’s normal business operations Lender is permitted to inspect the Collateral or the Property
during Lender’s normal business hours.

 

13.       The
 “Hazardous Substances” paragraph appearing in the “Representations ·• section of the Hazardous Substances
Certificate and Indemnity Agreement is hereby amended to delete the phrase whenever and whether owned by previous occupants, has
ever contained” and replace it with the word “contains.’”

 

14.       The
 ’“Indemnitors Waiver and Indemnification’’ section of the Hazardous Substances
Certificate and Indemnity Agreement is hereby amended to insert the parenthetical phrase (other than those arising solely
out of the gross negligence, willful misconduct, or bad faith of the party to whom the obligations in this paragraph are
owed”) between the word ’ person” and subsection (a) in the fourth line of the section.

 

15.       The
 ’“Survival” section of the Hazardous Substances Certificate and Indemnity Agreement is hereby amended to insert the
following al the end of the paragraph:

 

Notwithstanding
anything to the contrary contained herein, the obligations and liabilities of Indemnitor under this Agreement shall terminate and
be of no further force and effect when all of the following conditions are satisfied in full:(a) there has been no change between
the date hereof and Trigger Date i n any Environmental Laws, the effect or which change may be to make a lender or mortgagee liable
in respect to any matter for which the Lender is entitled to indemnification pursuant to this Agreement, (b)
Lender shall have received, at Indemnitor’s
expense, an Environmental Report dated within ninety (90)
days of the Trigger Date showing. to the reasonable satisfaction of Lender, that there exists no
matter for which the Lender is entitled to indemnification pursuant to this Agreement, and (c) seven (7) years have passed since
the Trigger Date.

 

16.      The
term “Trigger Date is hereby added to the “Definitions’ ” section of the Hazardous Substances Certificate and Indemnity
Agreement:

 

Trigger Date.
The term “Trigger Date” means either of the following as applicable: (i) the date on
which the outstanding indebtedness under the Note shall have been paid indefeasibly in full, whether at maturity, as the result
of acceleration, in connection with any prepayment, or otherwise, or (ii) the date on which the Property shall have been conveyed
pursuant to a foreclosure of the deed of trust or deed in lieu thereof.

 

17.
      In each instance, the Loan Documents where entry of a judgment against the Borrower or Guarantor constitutes an Event of Default,
the amount of the judgment that constitutes an Event of Default is raised from $10,000 to
$50,000.

 

    	 	3	 

     

    

 

18.       The
 “Application of Insurance Proceeds” section
of the Commercial Security Agreement is hereby amended to increase the monetary amount of loss that
requires notification from $1,000 to $10,000.

 

19.       The
“Guaranties” section of the Business
Loan Agreement is amended to slate that the obligations of the Guarantor under the Guaranty Agreement are limited lo losses and
or damages suffered by Lender which arise from the Borrower’s and ‘or Guarantor’s: (a) voluntary or involuntary bankruptcy filing,
(2) non-compliance with reporting and budget approval covenants contained in the related documents, (3) fraudulent conduct, (4)
material misrepresentation, (5) criminal acts, (6) misappropriation of funds or other property of the Borrower or (7) transfer
or conveyance or all or a portion of the lender’s collateral in violation of the provisions of the Related Documents.

 

20.       Except
as expressly amended and supplemented herein, the terms and conditions of the Loan Documents shall remain unchanged and in full
force and effect. Any other provisions of the Loan Documents, to the extent inconsistent with this Addendum, are hereby deemed
amended and restated to be consistent herewith in all respects.

 

(See
Attached Signatures)

 

     

     

    

 

IN WITNESS WHEREOF.
the parties have executed this Addendum as of the day and year first above written.

 

	 	BORROWER:
	 	 
	 	COF NORTH, LLC,
	 	a Virginia limited liability company
	 	 	 	 
	 	By:	COF NORTH MANAGEMENT, LLC,
	 	 	a Virginia limited liability company. its Manager
	 	 	 	 
	 	By:	/s/ Mark W. Claud	(SEAL)
	 	 	Mark W. Claud. Manager

 

COMMONWEALTH OF VIRGINIA:

 

CITY/COUNTY OF HENRICO

 

I hereby
certify that on this 2 day of November 2017, before me. the undersigned Notary Public in and for the Commonwealth
of Virginia. at large, personally, appeared Mark W. Claud the Manager of COF North Management,
LLC, a Virginia limited liability company, the Manager of COF North. LLC, a Virginia limited
liability company. known to me or satisfactorily proven to be the person whose name is subscribed
to the foregoing instrument and acknowledged that he executed the foregoing on behalf of COF North LLC, a Virginia limited liability
company, for the purposes set forth herein.

 

	 	/s/ Darci K. Poole	(Seal)
	 	 	 
	 	Notary Public	 

 

My Commission Expires: 3/31/2021

 

Registration Number: 7553162

 

     

     

    

 

	 	GUARANTOR:	 
	 	 	 
	 	MARK W. CLAUD	 
	 	 	 
	 	/s/ Mark W. Claud	(Seal)

 

COMMONWEALTH OF VIRGINIA:

 

CITY/COUNTY OF HENRICO

 

I hereby certify that on this 2 day
of November 2017, before me, the undersigned Notary Public in and for the Commonwealth
of Virginia, at large, personally appeared Mark W. Claud, known to me or satisfactorily proven to be the person whose name
is subscribed to the foregoing instrument and acknowledged that he executed the foregoing
for the purposes set forth herein .

 

	 	/s/ Darci K. Poole
	 	Notary Public

 

My Commission Expires: 3/31/2021

Registration Number: 755362

 

 

 

     

     

    

 

	 	LANGLEY FEDERAL CREDIT UNION
	 	 	 
	 	By:  	/s/ Natasha Mertz
	 	 	Authorized Signer

 

COMMONWEALTH OF VIRGINIA:

CITY COUNTY OF NEWPORT NEWS

 

I hereby certify that
on this 3 day of November, 2017, before me, the undersigned, Notary Public in and for the Commonwealth of Virginia, at large, personally
appeared Natasha Merz the VP Comm Lending of Langley Federal Credit Union, known to me or satisfactorily proven to be the person
whose name is subscribed to the foregoing instrument and acknowledged that she executed the foregoing on behalf of the Credit Union,
for the purposes set forth herein.

 

	 	/s/ Tracy E.
    Pesante	(Seal)
	 	Notary Public	 

 

My Commission Expires: 4/30/18

Registration Number: 7595763

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