Document:

Exhibit
10.6 

 

GLOBAL
AMENDMENT

 

THIS
GLOBAL AMENDMENT to the Transaction Documents (as defined below) (the “Amendment”) is entered into as of September
21, 2022 (the “Effective Date”), by and between Touchpoint Group Holdings, Inc., a Delaware corporation (the “Company”),
and Mast Hill Fund, L.P., a Delaware limited partnership (the “Holder”) (collectively the “Parties”).

 

BACKGROUND

 

A.    The
Company and Holder are the parties to that certain promissory note in the principal amount of $810,000.00 (the “First Note”),
securities purchase agreement (the “First Agreement”), and Warrant (as defined in the First Agreement) all dated October
29, 2021 (collectively, and as amended from time to time, the “First Transaction Documents”), as well as that certain
amendment #1 to the First Transaction Documents dated March 25, 2022 (the “First Transaction Documents Amendment”);
and

 

B.    
The Company and Holder are the parties to that certain promissory note in the principal amount of $625,000.00 (the “Second
Note”), securities purchase agreement (the “Second Agreement”), and Warrants (as defined in the Second Agreement)
all dated March 28, 2022 (collectively, and as amended from time to time, the “Second Transaction Documents”), as
well as that certain amendment #1 to the Second Note dated April 4, 2022 (the “Second Transaction Documents Amendment”);
and

 

C.    The
Company and Holder are the parties to that certain promissory note in the principal amount of $275,000.00 (the “Third Note”),
securities purchase agreement (the “Third Agreement”), and Warrants (as defined in the Third Agreement) all dated
April 11, 2022 (collectively, and as amended from time to time, the “Third Transaction Documents”); and

 

D.     The
Company and Holder are the parties to that certain promissory note in the principal amount of $225,000.00 (the “Fourth Note”),
securities purchase agreement (the “Fourth Agreement”), and Warrants (as defined in the Fourth Agreement) all dated
June 7, 2022 (collectively, and as amended from time to time, the “Fourth Transaction Documents”); and

 

E.    
The Company and Holder are the parties to that certain promissory note in the principal amount of $115,000.00 (the “Fifth
Note”), securities purchase agreement (the “Fifth Agreement”), and Warrants (as defined in the Fifth Agreement)
all dated July 18, 2022 (collectively, and as amended from time to time, the “Fifth Transaction Documents”); and

 

F.     The
Parties desire to amend the First Transaction Documents, Second Transaction Documents, Third Transaction Documents, Fourth Transaction
Documents, Fifth Transaction Documents (collectively, the “Transaction Documents”) as set forth expressly below.

 

NOW
THEREFORE, in consideration of the execution and delivery of the Amendment and other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the Parties agree as follows:

 

1.             
Section 2 of the First Transaction Documents Amendment shall be deleted in the entirety and no longer applicable to the First
Transaction Documents.

 

2.             
Section 8(q) of the Second Agreement shall be deleted in the entirety and no longer applicable to the Second Transaction Documents.

 

3.             
Section 8(q) of the Third Agreement shall be deleted in the entirety and no longer applicable to the Third Transaction Documents.

 

4.             
Section 8(q) of the Fourth Agreement shall be deleted in the entirety and no longer applicable to the Fourth Transaction Documents.

 

5.             
Section 8(q) of the Fifth Agreement shall be deleted in the entirety and no longer applicable to the Fifth Transaction Documents.

 

6.             
This Amendment shall be deemed part of, but shall take precedence over and supersede any provisions to the contrary contained
in the Transaction Documents. Except as specifically modified hereby, all of the provisions of the Transaction Documents, which
are not in conflict with the terms of this Amendment, shall remain in full force and effect.

 

[Signature
page to follow]

 

     

     

    

 

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

 

	Touchpoint
    Group Holdings, Inc.	 	Mast
    Hill Fund, L.P.
	 	 	 
	By:	 	 	By:	 
	Name:	Mark
    White	 	Name:	Patrick
    Hassani
	Title:	Chief
    Executive Officer	 	Title:	Chief
    Investment Officer
	 	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 

 

     

     

    

 

Exhibit
A

 

(see
attached)Exhibit 10.1

 

PURCHASE AGREEMENT

 

THIS PURCHASE AGREEMENT (this
 "Agreement") is made this 29th day of September, 2022 (the "Effective Date"), by and between Limbach
company llc, a Delaware limited liability company with an address of 926 Featherstone Street, Pontiac, Michigan 48342 ("Seller"),
and ROYAL OAK ACQUISITIONS LLC, a New York limited liability company with an address of 600 East Avenue, Suite 200, Rochester, New
York 14607 ("Buyer").

 

W I T N E S S E T H:

 

WHEREAS, Seller is the fee
simple owner of certain real property and improvements located at 926 Featherstone Street in the City of Pontiac, County of Oakland and
State of Michigan, further identified as tax parcel identification numbers 14-27-126-014 and 14-27-126-015 and comprised of approximately
6.31+/- acres, together with all rights and appurtenances pertaining thereto (collectively referred to herein as the "Premises"),
which Premises is more fully described in Schedule "A" attached hereto and made a part hereof;

 

WHEREAS, Seller desires to sell
and Buyer desires to purchase, all of Seller’s right, title and interest in and to the Premises; and

 

WHEREAS, Seller and Buyer
desire to enter into the Lease at the Closing (as such terms are defined below).

 

NOW THEREFORE, in consideration
of the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are all hereby
acknowledged by each of the parties hereto, the parties, intending to be legally bound hereby, agree as follows:

 

1.            Sale.

 

1.1            Seller
agrees to sell and convey to Buyer, and Buyer agrees to purchase from Seller, the Premises upon the terms and subject to the conditions
of this Agreement.

 

1.2            The
Premises shall include all of the right, title and interest, if any, of Seller in and to the following:

 

1.2.1            All
buildings, improvements and structures located on the Premises, including, without limitation, that certain building containing approximately
74,843 square feet (collectively referred to herein as the “Building”);

 

1.2.2            All
machinery, fixtures and equipment used in connection with the operation of the Premises or permanently
affixed to the Building or the Premises, including, without limitation, any emergency generators located at the Premises (collectively,
the “Personal Property”), but such Personal Property expressly excludes (i) any removable personal property, inventory,
products, furniture, trade fixtures and equipment used in connection with the business operations of Seller and its affiliates, including
without limitation the items set forth on Schedule "1.2.2" attached hereto and made a part hereof (collectively, “Trade
Fixtures”) as such Trade Fixtures are not included in the sale of the Premises;

 

     

     

    

 

1.2.3            All
strips and gores of land adjoining or abutting the Premises, if any;

 

1.2.4            All
right of Seller, if any, in and to land lying in the bed of any street, road, avenue or alley, opened or proposed, in front of, running
through or adjoining the Premises;

 

1.2.5            All
easements, privileges or rights-of-way over, contiguous or adjoining the Premises, and all other rights belonging to and accruing to the
benefit of the Premises or the fee owner thereof;

 

1.2.6            All
appurtenances and hereditaments belonging or in any way appertaining to the Premises;

 

1.2.7            All
mineral, oil and/or gas rights or other minerals and subsurface assets;

 

1.2.8            To
the extent they may be transferred under applicable law, all licenses, permits, approvals and authorizations required for the use and
operation of all or any portion of the Building and the Premises;

 

1.2.9            All
of Seller’s rights and interests under any warranties or guaranties relating to the roof and/or the HVAC system; and

 

1.2.10            All
awards made or to be made in lieu of any interest referred to in the foregoing subsections.

 

2.            Purchase
Price.

 

2.1            Buyer
shall pay Seller as the total price for the Premises an amount equal to FIVE MILLION FOUR HUNDRED THOUSAND AND 00/100 DOLLARS ($5,400,000.00)
(the “Purchase Price”) to be paid as follows:

 

2.1.1            ONE
HUNDRED THOUSAND AND 00/100 DOLLARS ($100,000.00) (the "Deposit") by wire transfer or check shall be paid within five (5) days
after the Effective Date, which deposit shall be held in escrow by Chicago Title Insurance Company, 755 E. Mulberry Avenue, Suite 125,
San Antonio, Texas 78212, Attention: Val Juve (the "Escrow Agent" or the “Title Company”), in accordance with the
terms hereof.

 

2.1.2            The
Deposit shall be held in escrow and disbursed in accordance with the terms of this Agreement. Escrow Agent shall hold the Deposit in a
non-interest bearing account until the Closing (as defined herein) or sooner termination of this Agreement. If for any reason the Closing
does not occur and either party makes a written demand upon Escrow Agent for payment of the Deposit, Escrow Agent shall give written notice
to the other party of such demand. Thereafter, Escrow Agent shall continue to hold the Deposit until otherwise directed by joint written
instructions from the parties to this Agreement or a final judgment of a court of competent jurisdiction. However, Escrow Agent shall
have the right at any time to deposit the Deposit with the clerk of a court of competent jurisdiction in the county where the Premises
is located. Escrow Agent shall give written notice of such deposit with the clerk of court to the parties. Upon such deposit, Escrow Agent
shall be relieved and discharged of all further obligations and responsibilities hereunder. The parties acknowledge that Escrow Agent
is acting solely as a stakeholder at their request and for their convenience, that Escrow Agent shall not be deemed to be the agent of
either of the parties, and that Escrow Agent shall not be liable to either of the parties for any act or omission on its part unless taken
or suffered as a result of Escrow Agent’s negligence. The parties jointly and severally indemnify and hold Escrow Agent harmless
from and against all costs, claims and expenses, including reasonable attorneys’ fees incurred in connection with the performance
of Escrow Agent’s duties hereunder, except with respect to actions or omissions involving negligence on the part of Escrow Agent.
Escrow Agent has acknowledged agreement to these provisions by signing in the place indicated on the signature page of this Agreement.

 

    2

     

    

 

2.1.3            The
balance of the Purchase Price (subject to the prorations, charges, credits and other terms set forth in this Agreement) shall be paid
at Closing by wire transfer of immediately available federal funds to an account specified by Seller.

 

3.            Documents
Provided by Seller. Prior to the Effective Date, Seller has delivered to Buyer, and Buyer has received, true, complete and accurate
copies of those documents set forth on Schedule “D” attached hereto (collectively, the “Delivery Items”), which
Delivery Items have been made available to Buyer in the electronic data room hosted by Real Capital Markets on behalf of the Broker (as
defined below). Buyer acknowledges and understands that some or all of the Delivery Items have been prepared by parties other than Seller,
that Seller’s internal reports and studies were not prepared for use in this transaction, and except as otherwise set forth in this
Agreement, that Seller makes no representation or warranty whatsoever, express or implied, as to the content or accuracy of the Delivery
Items.

 

4.            Contingency.

 

4.1            Buyer
has undertaken prior to the Effective Date, and intends to continue to undertake following the Effective Date, at Buyer's cost and expense,
a review and examination of all aspects of the Premises, Seller and Limbach Facility Services LLC, a Delaware limited liability company
(“Guarantor”), including, without limitation, (i) the physical condition, state of repair and environmental condition
of the Premises; (ii) the terms and conditions of all contracts, agreements, warranties, and other rights relating to the condition,
operation, maintenance or use of the Premises; (iii) the financial condition of Seller and Guarantor via publicly available financial
information; and (iv) such other matters relating to the Premises, Seller or Guarantor as Buyer deems appropriate. Buyer shall be
permitted to conduct such tests, inspections, appraisals and examinations of the Premises as Buyer deems reasonably necessary, including
without limitation, inspections of the utility and sewer infrastructure servicing the Premises and/or being available to the Premises,
environmental studies and assessments, wetland studies, engineering tests, provided, however any test borings, percolation and other soil
tests and groundwater tests for hydrocarbons, Hazardous Substances, toxic pollutants and other contaminants shall be subject to Seller’s
prior written consent, which shall not be unreasonably withheld so long as a Phase I environmental site assessment recommends a Phase
II environmental site assessment. Seller shall facilitate a facility tour and meeting between Buyer and certain members of the senior
management of Seller promptly after the Effective Date. Subject to the terms and conditions of this Agreement, Buyer shall have the right,
upon reasonable prior notice to Seller, at all reasonable times to enter onto the Premises in order to inspect the Premises and to conduct
such tests, inspections, investigations, surveys and similar due diligence activities as Buyer deems appropriate. Seller agrees to reasonably
cooperate with any such investigations, inspections or studies made by or at Buyer’s direction. If Buyer is dissatisfied with its
review and examination for any reason in its sole discretion, Buyer shall have the right to terminate this Agreement by giving written
notice of termination to Seller at any time on or before the date which is five (5) business days after the Effective Date (such
5 business day period being hereafter referred to as the "Review Period"). Upon the giving of such notice, this Agreement shall
terminate, the Deposit shall be returned to Buyer within three (3) Business Days, and all rights, obligations and liabilities of
the parties hereunder shall be released and discharged except for those matters which, by their terms, survive the termination of this
Agreement.

 

    3

     

    

 

4.2            Buyer
shall promptly restore the Premises to substantially the same condition if materially damaged due to the tests and inspections performed
by Buyer (whether prior to or after the Effective Date), free of any mechanic’s or materialman’s liens or other encumbrances
arising out of any of the inspections or tests performed by Buyer (whether prior to or after the Effective Date). Upon request of Seller,
Buyer must deliver, or cause its agents or representatives to deliver, a certificate of insurance to Seller evidencing that Buyer or its
contractors, agents and representatives, as applicable, have in place commercial general liability insurance with limits of at least One
Million and 00/100 Dollars ($1,000,000) per occurrence and Two Million and 00/100 Dollars ($2,000,000) in the aggregate for bodily injury
or death and property damage insurance and personal injury with respect to Buyer’s obligations hereunder and Seller shall be named
as an additional insured under such insurance coverages. Except to the extent caused by (i) an existing condition at the Premises
merely discovered (and not exacerbated) by Buyer and/or its employees, consultants, agents, representatives or contractors or (ii) the
negligence or willful misconduct of Seller, or their respective agents or representatives, Buyer shall indemnify, defend (using counsel
reasonably acceptable to Seller) and hold harmless Seller from and against any and all personal injury and property damage, liens, claims,
damages, expenses (including reasonable attorneys’ fees) or losses to the extent caused by the actions or omissions upon the Premises
by Buyer or its employees, agents, or contractors under this Section 4, whether prior to or after the Effective Date. Notwithstanding
the foregoing, Buyer shall have no liability or obligation to Seller for costs, expenses or liabilities incurred by Seller as the result
of Buyer’s mere discovery of conditions at the Premises so long as Buyer and/or its employees, consultants, agents, representatives
or contractors do not exacerbate any such pre-existing condition. The foregoing indemnification obligation contained in this Section 4.2
shall survive the termination of this Agreement.

 

5.            Seller’s
Covenants.

 

5.1               Seller
hereby covenants and agrees as follows:

 

5.1.1            From
the Effective Date until the Closing Date, Seller shall not take any of the following actions without the prior express written consent
of Buyer: (i) make or permit to be made (except in the ordinary course of Seller’s business and in compliance with the intent
expressed by the provisions of the Lease) any material alterations to or upon the Premises; (ii) enter into any agreements (except
as necessary to facilitate the ordinary operations of Seller’s business), leases, subleases, or other undertakings with respect
to the Premises or any part thereof; (iii) make any commitments or representations to any applicable governmental authorities, any
adjoining or surrounding property owners, any civic association, any utility or any other person or entity that would in any manner be
binding upon Buyer or the Premises; or (iv) remove or permit the removal from the Premises of any Personal Property or any other
item included in the Premises being conveyed to Buyer hereunder.

 

    4

     

    

 

5.1.2            Seller
shall repair and maintain the Premises, and deliver possession of the Premises to Buyer at Closing, in the same condition as on the Effective
Date, ordinary wear and tear, casualty and condemnation excepted as provided in Section 13 hereof. Seller shall continue to maintain
in full force and effect all permits and related items, and all of Seller’s insurance relating to the Premises or any part thereof.

 

5.1.3            Seller
shall not mortgage or encumber the Premises or execute any easements, covenants, conditions or restrictions with respect to the Premises
or seek any zoning change or other governmental approval with respect to the Premises without first obtaining Buyer’s prior written
consent in each instance.

 

5.1.4            Seller
shall (a) pay in a timely fashion all taxes and other public charges against the Premises, and (b) provide Buyer, within ten
(10) days of receipt, with copies of any notices Seller receives with respect to any special assessments or proposed increases in
the valuation of the Premises.

 

5.1.5            At
Closing, Seller shall (a) execute the Lease, with Buyer or an affiliated or related entity thereof, as landlord, and Seller, as tenant,
and (b) cause the Guarantor to execute the Guaranty.

 

5.1.6            Seller
shall obtain and deliver to Buyer a fully completed and properly executed estoppel certificate on forms to be provided by Buyer (the “Estoppel
Certificate”) from the Tenant with respect to the Lease in the form attached hereto as Schedule “C”.

 

6.            Closing.

 

6.1               The
Closing of the purchase of the Premises (the “Closing”) shall take place via escrow at the offices of the Title Company on
or prior to the expiration of the Review Period, or on such earlier or later date or in such other place or manner as Seller and Buyer
may mutually agree (the “Closing Date”).

 

7.            Title
and Conveyance.

 

7.1                Upon
payment of the Purchase Price to Seller, as herein provided, Seller agrees to assign and convey to Buyer a good, marketable, fee simple
title of the Premises, free and clear of all liens, encumbrances, easements and restrictions, except for the Permitted Encumbrances (as
defined below).

 

    5

     

    

 

7.2               Buyer
shall, at Seller’s expense, order a commitment for title insurance (the “Title Commitment”) from Chicago Title Insurance
Company (the “Title Company”). Buyer shall have until the date five (5) Business Days prior to the expiration of the
Review Period (the “Title Review Period”), to examine the Title Commitment and Survey (as hereinafter defined), and to identify
to Seller in writing those item(s), if any, which Buyer finds objectionable (the “Buyer Title Objection(s)”). Buyer shall
provide the Survey to Seller within a reasonable period of time after Buyer’s receipt thereof, and following any revisions thereto
(or shall deliver the same to Seller on the Effective Date, if it is later than Buyer’s receipt thereof). If Buyer fails to identify
any objections during the Title Review Period, then all matters shown on the Survey and on Schedule "B" of the Title Commitment
shall be deemed "Permitted Encumbrances." If Buyer makes any written objection during Title Review Period, then, within five
(5) Business Days after Seller has received such written objection (the "Title Cure Period"), Seller shall notify Buyer
in writing ("Seller’s Response Notice") that either (i) the Buyer Title Objections will not be cured (subject to
the remaining terms of this Section 7), or (ii) Seller commits to cure or cause the Title Company to insure over such Buyer
Title Objections. Seller shall have no obligation to expend any money, to incur any contractual or other obligations, or to institute
any litigation in pursuing its efforts other than to remove at Closing all Voluntary Liens (defined below), and Buyer shall have no obligation
to give Seller any notice of objection with respect to any Voluntary Liens (defined below). Notwithstanding anything contained in this
Agreement to the contrary, Seller and Buyer hereby acknowledge and agree that Buyer automatically (i.e., without the need for further
notice to Seller) objects to all mortgage liens, mechanic's liens, judgments and other monetary encumbrances of a definite and ascertainable
amount (collectively, “Voluntary Liens”) and Seller hereby agrees to have any and all such Voluntary Liens satisfied and removed
from the Premises at or before the Closing.

 

If Seller fails or elects
not to cure an objection to title during the Title Cure Period, then Buyer, as its sole and exclusive remedies, shall have the right to
either:

 

(i)            waive
such objection and purchase the Premises, without reduction or abatement in the Purchase Price, in which event the waived objection shall
be deemed to be a Permitted Encumbrance; or

 

(ii)            terminate
this Agreement by notifying Seller within five (5) Business Days following Buyer’s receipt of Seller’s Response Notice
(the “Buyer Response Period”), and in the event of such termination by Buyer, the Deposit shall be refunded by the Escrow
Agent within three (3) Business Days to Buyer and all other rights and duties under this Agreement shall cease except for those matters
which, by their terms, survive the termination of this Agreement.

 

Buyer’s failure to give
notice of termination within the Buyer Response Period shall constitute Buyer’s waiver of any Buyer Title Objections that Seller
is unwilling or unable to cure, and such Buyer Title Objections shall be deemed Permitted Encumbrances, and Closing shall occur as provided
in this Agreement without any reduction of or credit against the Purchase Price on account of such uncured Buyer Title Objections.

 

    6

     

    

 

7.3            Buyer
has the right to obtain, at Seller’s expense in an amount not to exceed $4,500.00, a current ALTA survey dated or redated after
the date of this Agreement, made by a land surveyor licensed by the State of Michigan showing the boundaries of the Premises, all buildings,
improvements or other structures and all easements, rights-of-way, encroachments, other uses, other restrictions affecting the Premises,
any roadways, walks, drives, utility lines, access to public streets and roads and other matters customarily shown on such surveys and
certified to Buyer, Buyer’s counsel, Buyer’s title insurer, Buyer’s mortgage lender and the counsel and title insurer
of any mortgage lender and such other persons as Buyer determines (the “Survey”).

 

8.            Representations
and Warranties of Seller.

 

8.1.              Seller
represents and warrants to Buyer that the statements contained in this Section 8 are correct and complete as of the date of this
Agreement and will be correct and complete as of the Closing:

 

8.1.1            Seller
is a duly formed and validly existing limited liability company, organized under the laws of the jurisdiction of its formation and is
qualified under the laws of the jurisdiction of its formation to conduct business therein. Seller has the full legal right, power and
authority to enter into this Agreement and all documents now or hereafter to be executed by Seller pursuant to this Agreement (collectively
referred to as the “Seller’s Documents”), to perform all of the obligations of Seller contained herein and under the
Seller’s Documents and to consummate the transaction contemplated hereby. Seller owns fee simple title to the Premises and is authorized
to convey title to the Premises. This Agreement and the Seller’s Documents do not and will not violate or contravene any provision
of the organizational documents of Seller. Guarantor is a duly formed and validly existing limited liability company, duly formed under
the laws of the jurisdiction of its formation and is qualified under the laws of the jurisdiction of its formation to conduct business
therein and Guarantor has the right and authority to enter into this Agreement and the instruments referenced herein, and to consummate
the transaction contemplated hereby.

 

8.1.2            No
action, suit or other proceeding (including, but not limited to, condemnation actions) is pending or to Seller’s knowledge has been
threatened that concerns or involves the Premises or Seller's or Guarantor’s interest in the Premises.

 

8.1.3            No
portion of the Premises is occupied or used in any manner by any person or entity other than Seller and there are no leases, subleases,
licenses, concessions, occupancy agreements or other agreements (written or oral) in effect with respect to the Premises. No person or
entity has any right or option to purchase or otherwise acquire the Premises or any portion thereof; to Seller’s knowledge, no person
or entity has any other rights with respect to the Premises. Neither the whole nor any portion of the Premises has been condemned, requisitioned
or otherwise taken by any governmental entity.

 

8.1.4            The
Seller does not use or occupy any real property (other than the Premises) in conjunction with its activities on the Premises, such as
an offsite parking lot, access road or drainage area.

 

    7

     

    

 

8.1.5            Seller
has no knowledge of any violations of any laws, ordinances, orders, regulations or requirements of any federal, state, county or municipal
authority or any insurance carrier ("Laws") affecting the Premises or any portion thereof (including, without limitation, Environmental
Laws and the Americans with Disabilities Act) and Seller has not received any notices of violation thereof.

 

8.1.6            No
work has been performed at the Premises, and no materials have been furnished to the Premises, which though not presently the subject
of a lien might give rise to mechanics', materialmen's or other liens against Seller's interest in the Premises or any portion thereof.

 

8.1.7            To
Seller’s knowledge and except as disclosed in the Delivery Items: (i) the Premises is zoned to permit the current use of same
(including, without limitation, Seller’s proposed use under the Lease); (ii) there is no threatened change in the zoning classification
of the Premises or any portion thereof; and (iii) there exists at the Premises parking for all existing improvements at the Premises
in compliance with all Laws. The Premises is comprised of two (2) tax lots.

 

8.1.8            To
Seller’s knowledge and except as disclosed in the Delivery Items: (i) all permits necessary for the operation of the Premises
have been obtained and are in full force and effect; (ii) all fees payable in connection with such items have been paid in full;
(iii) the Premises has been built and used in accordance with all applicable zoning, land use, environmental, building code, fire
code, landlord and tenant, and other applicable Laws; (iv) the improvements included in the Premises do not constitute non-conforming
structures, nor do the uses thereof constitute non-conforming uses under applicable Laws; and (v) no special exceptions or variances
are required as conditions to the full use and occupancy of the Premises under such Laws.

 

8.1.9            Except
for this Agreement, Seller has not entered into any contract to sell, encumber or lease the Premises or any part thereof and Seller will
not do so during the term of this Agreement.

 

8.1.10            To
Seller’s knowledge and except as disclosed in the Delivery Items: (i) there are no defects, structural or otherwise, in the
design or construction of the improvements included as part of the Premises, including without limitation the roofs, mechanical systems
and parking areas; and (ii) all systems within said improvements (including without limitation the mechanical, HVAC and electrical
systems) are in good operating condition and require no special maintenance, repair or replacement. Seller has no knowledge, and has received
no notices from governmental officials, insurance carriers or others, to the effect that the Premises (or any use thereof) is in violation
of any Laws or was constructed other than in conformity with the plans and specifications and approved site plan therefor.

 

    8

     

    

 

8.1.11            Except as disclosed
in Seller’s Phase I Environmental Assessment Report dated February 7, 2022 and issued by NV5 Transactional Services: (1) the
Premises is in full compliance with all applicable Environmental Laws (as hereinafter defined); (2) no Hazardous Substances (as hereinafter
defined) have been released or are otherwise present, at, on, in, upon, beneath or about the Premises in a manner that (i) represents
a violation of any Environmental Laws, (ii) requires reporting to any governmental authority or other third party, and/or (iii) otherwise
serves as the basis for liability under Environmental Laws; (3) no activity upon the Premises has produced, and the Premises has
not been used for the storage, treatment, generation, processing, handling, production or disposal of, any Hazardous Substances in buildings
or other improvements, soil, groundwater or otherwise in a manner that (i) represents a violation of any Environmental Laws, (ii) requires
reporting to any governmental authority or other third party, and/or (iii) otherwise serves as the basis for liability under Environmental
Laws; (3) the Premises does not contain underground tanks of any type, whether empty, filled or partially filled with any substance
or materials whatsoever; (4) neither Seller nor Guarantor has received any written request for information, notice, claim or order
alleging that it may be a potentially responsible party under any Environmental Laws for the investigation or remediation of Hazardous
Substances on or in the vicinity of the Premises; (5) to Seller’s knowledge, no event has occurred with respect to the Premises,
which with the passage of time or the giving of notice, or both, would constitute a violation of, non-compliance with, or liability under,
any applicable Environmental Law; and (6) to Seller’s knowledge, there are no encumbrances (other than Permitted Encumbrances),
claims, notices, orders or threats thereof relating to an alleged unauthorized release or presence of any Hazardous Substance at, on,
in, upon, beneath or about the Premises (or any portion thereof), or the migration of any Hazardous Substance to or from property adjoining
or in the vicinity of the Premises, or alleging any obligation under Environmental Laws. The term “Environmental Laws,” as
used in this Agreement, shall mean collectively, all U.S. federal, national, state and local laws, statutes, rules, regulations, ordinances,
codes, common law, directives, decisions, and orders (including all amendments thereto) pertaining to environmental matters (which includes
air, water vapor, surface water, groundwater, soil, natural resources, chemical use, health, safety, sanitation, zoning, land use, etc.),
Hazardous Substances, and/or the protection of the environment or human health, including but not limited to, the Comprehensive Environmental
Response, Compensation and Liability Act, the Resource Conservation and Recovery Act, the Clean Air Act, the Federal Water Pollution Control
Act, the Safe Water Drinking Act, the Toxic Substance Control Act, the Hazardous Materials Transportation Act, the Occupational Safety
and Health Act, and/or any other applicable Environmental Laws and/or the rules and regulations promulgated thereunder. For purposes
hereof, “Hazardous Substances” shall mean and include, without limitation: (a) any hazardous materials, hazardous wastes,
hazardous substances and toxic substances as those or similar terms are defined under any Environmental Laws; (b) any asbestos or
any material that contains any hydrated mineral silicate, including chrysolite, amosite, crocidolite, tremolite, anthophylite and/or actinolite,
whether friable or non-friable; (c) any polychlorinated biphenyls or polychlorinated biphenyl-containing materials or fluids; (d) radon;
(e) any other hazardous, radioactive, toxic or noxious substance, material, pollutant, contaminant or solid, liquid or gaseous waste;
(f) any petroleum, petroleum hydrocarbons, petroleum products, crude oil or any fractions thereof, natural gas or synthetic gas;
and (g) any substance that, whether by its nature or its use, is subject to regulation under any Environmental Laws or with respect
to which any Environmental Laws or governmental entity requires environmental investigation, monitoring or remediation.

 

8.1.12            No
commission agreements are in effect with respect to the Premises or the Lease which will survive the Closing. Neither Seller nor Guarantor
owes money for commissions related to the Premises or any current or past leases affecting the Premises, except as may be paid at the
Closing by Seller. Except as may be paid at the Closing by Seller, no broker is entitled to any commission with respect to any leases
affecting the Premises, or present or future renewal or expansion rights under any leases affecting the Premises.

 

    9

     

    

 

8.1.13            To
Seller’s knowledge, there are no special assessments affecting the Premises and there are no pending tax assessment proceedings
affecting the Premises.

 

8.1.14            Except for the Permitted
Encumbrances, Seller has good and marketable title to the Premises together with all improvements and fixtures thereon and all appurtenances
and rights thereto.

 

8.1.15            Seller
is not a “foreign person” within the meaning of Section 1445 of the United States Internal Revenue Code of 1986, as amended,
and the regulations issued thereunder.

 

8.2            The
representations and warranties of Seller set forth in this Section 8 and elsewhere in this Agreement shall be true, accurate and
correct upon the execution of this Agreement and shall be deemed to be repeated on and as of the Closing. The representations and warranties
of Seller set forth in this Section 8 and elsewhere in this Agreement and/or the Seller’s Documents (but expressly excluding
the Lease) (collectively, the “Seller Representations”) shall survive the Closing and the execution and delivery of the Deed
(as defined herein) for a period of twelve (12) months (the “Survival Period”), provided that, notwithstanding anything contained
herein to the contrary, the warranties contained in the Deed shall not terminate. Whenever a representation is qualified by the phrase
 “to the Seller’s knowledge”, “awareness of Seller”, or by words of similar import, the accuracy of such
representation shall be based solely on the actual (as opposed to constructive or imputed) knowledge of the Designated Seller Representative,
without independent investigation or inquiry. The Designated Seller Representative shall have no personal liability under this Agreement.
The “Designated Seller Representative” is collectively (i) Scott Wright, who is the Senior Vice President and General
Counsel of the Seller and/or its affiliates and (ii) Ian Switalski, who is the Senior Vice President and Brach Manager of the Seller
and/or its affiliates.

 

8.3            Except
as set forth herein, and including the representations and warranties herein given by Seller, Buyer agrees that the Premises shall be
sold and that Buyer shall accept possession of the Premises at the time of the Closing strictly on an “as is, where is, with all
faults” basis, and that, except as set forth herein, including the representations and warranties herein given by Seller, such sale
shall be without any other representation or warranty of any kind by Seller, express or implied. Buyer acknowledges that (i) Buyer
has had or will have, pursuant to this Agreement, an adequate opportunity to inspect the Premises and make such legal, factual and other
inquiries and investigation as Buyer deems necessary, desirable or appropriate with respect to the Premises, and (ii) except as otherwise
expressly set forth in this Agreement, including the representations and warranties herein given by Seller, neither Seller, nor anyone
acting for or on behalf of Seller, has made any representation, warranty, promise or statement, express or implied, to Buyer, or to anyone
acting for or on behalf of Buyer, concerning the Premises or the condition, use or development thereof. Buyer represents that, in entering
into this Agreement, Buyer has not relied on any representation, warranty, promise or statement, express or implied, of Seller, or anyone
acting for or on behalf of Seller, other than as expressly set forth in this Agreement, including the representations and warranties herein
given by Seller, and that Buyer shall purchase the Premises based upon Buyer’s own investigation and examination of the Premises.
If Buyer elects (A) not to inspect the Premises, (B) to terminate this Agreement on or before the expiration of the Review Period,
or (C) to proceed to Closing, such election will be made in Buyer’s absolute discretion, in reliance solely upon the tests,
analyses, inspections and investigations that Buyer makes, or had the right to make and opted not, or otherwise failed, to make. This
Section 8.3 shall survive the termination of this Agreement or the Closing.

 

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8.4            No
action or proceeding on the Seller Representations shall be valid or enforceable, at law or in equity, unless (a) Buyer first obtains
actual knowledge of the breach after the Closing and provides written notice to Seller within the Survival Period and files suit against
Seller no later than ninety (90) days after the Survival Period expires; and (b) the damage to Buyer on account of the breach (individually
or when combined with damages from other breaches) equals or exceeds Ten Thousand and No/100 Dollars ($10,000.00) (the “Base Amount”),
provided that once the Base Amount has been reached, Buyer shall be entitled to a first-dollar loss recovery without regard to the Base
Amount. Furthermore, Buyer agrees that, from and after the Closing, the liability of the Seller under this Agreement, shall not exceed,
in the aggregate, Two Hundred Thousand and No/100 Dollars ($200,000.00). Seller’s total liability with respect to a default by Seller
for refusal or failure to convey the Premises shall not be governed by this Section but shall instead be governed by the terms and
provisions of Section 14.2 of this Agreement. NOTWITHSTANDING THE FOREGOING OR ANYTHING TO THE CONTRARY CONTAINED IN THIS AGREEMENT,
NOTHING HEREIN SHALL BE CONSTRUED TO LIMIT BUYER’S RIGHTS UNDER COMMON OR STATUTORY LAW TO SEEK REIMBURSEMENT FROM SELLER FOR ANY
LOSSES ARISING OUT OF SELLER’S INTENTIONAL MISREPRESENTATIONS OR FRAUD. FURTHER, AND NOTWITHSTANDING ANYTHING CONTAINED HEREIN TO
THE CONTRARY, NOTHING CONTAINED HEREIN SHALL BE CONSTRUED TO LIMIT SELLER’S LIABILITY UNDER THE LEASE (AS TENANT THEREUNDER) OR
LIMIT BUYER’S RIGHTS UNDER THE LEASE OR THE GUARANTY (OR TO SEEK REIMBURSEMENT FROM SELLER OR GUARANTOR UNDER THE LEASE OR THE GUARANTY)
AND IN NO EVENT SHALL BUYER BE PRECLUDED IN ANY WAY UNDER THE LEASE OR THE GUARANTY AS A RESULT OF THE LIMITATIONS, DISCLAIMERS OR OTHER
PROVISIONS CONTAINED IN THIS AGREEMENT. If, prior to Closing, Buyer obtains actual knowledge that any representation or warranty of Seller
in this Agreement is incorrect in any material respect, Buyer shall promptly notify Seller of such incorrectness. Upon receiving such
notification, Seller shall have the right take such action as shall be necessary in order to render correct the representation or warranty
which was incorrect. If Seller fails to notify Buyer within five (5) Business Days after receiving Buyer’s notice that Seller
intends to take such action, then Buyer’s sole remedy shall be to terminate this Agreement by notice to Seller given within five
(5) Business Days after the expiration of such ten (10) day period, in which case Buyer shall be entitled to the return of the
Deposit, where upon no party shall have any further rights or obligations under this Agreement other than those that expressly survive
termination of this Agreement; provided, however, in the event such representation and warranty is materially untrue, inaccurate or incorrect
due to Seller’s willful action or omission, Buyer shall also be entitled to reimbursement by Seller for all actual out-of-pocket
expenses incurred by Buyer in connection with this Agreement, but in no event to exceed $75,000.00.

 

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8.5            Buyer
represents and warrants to Seller that the statements contained in this Section 8.5 are correct and complete as of the Effective
Date and will be correct and complete as of the Closing:

 

(a)            Buyer
is a limited liability company, duly formed, validly existing and in good standing under the laws of the state in which it was organized.
This Agreement constitutes the valid and legally binding obligation of Buyer, enforceable against Buyer in accordance with its terms.

 

(b)            To
Buyer’s knowledge, there are no actions, suits or proceedings pending or, to the knowledge of Buyer, threatened, against or affecting
Buyer which, if determined adversely to Buyer, would adversely affect its ability to perform its obligations hereunder. Buyer 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 of Buyer’s creditors, (c) suffered the appointment of a receiver to take possession of all, or substantially
all, of Buyer’s assets, (d) suffered the attachment or other judicial seizure of all, or substantially all, of Buyer’s
assets, (e) admitted in writing it inability to pay its debts as they come due or (f) made an offer of settlement, extension
or composition to its creditors generally. Buyer has full right, power and authority and is duly authorized to enter into this Agreement,
to perform each of the covenants on its part to be performed 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.

 

(c)            To
Buyer’s knowledge, neither the execution, delivery or performance of this Agreement nor compliance herewith (i) conflicts or
will conflict with or results or will result in a breach of or constitutes or will constitute a default under (1) the organizational
documents of Buyer, (2) any law or any order, writ, injunction or decree of any court or governmental authority, or (3) any
agreement or instrument to which Buyer is a party or by which it is bound or (ii) results in the creation or imposition of any lien,
charge or encumbrance upon its property pursuant to any such agreement or instrument.

 

(d)            To
Buyer’s actual knowledge, no authorization, consent, or approval of any governmental authority (including courts) is required for
the execution and delivery by Buyer of this Agreement or the performance of its obligations hereunder.

 

(e)            To
Buyer’s actual knowledge, Buyer is not a person or entity with whom US 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 similar statute, executive
order (including the September 24, 2001 Executive Order Blocking Property and Prohibiting Transactions with Persons Who Commit, Threaten
to Commit, or Support Terrorism) or other similar governmental action.

 

There shall be no personal liability on the part
of any officer or employee of Buyer on account of any breach of any representation or warranty made by Buyer herein.

 

This Section 8.5 shall
survive the termination of this Agreement or the Closing for a period of twelve (12) months.

 

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9.            Conditions
to Closing

 

9.1            Buyer's
obligations to close hereunder, in addition to any and all other applicable conditions set forth in this Agreement, shall be subject to
the satisfaction of each of the following conditions, any one or more of which may be waived by Buyer in writing:

 

9.1.1            Seller shall have complied
in all material respects with all obligations and covenants required by this Agreement to be complied with by Seller as of the Closing
Date.

 

9.1.2            The
representations and warranties of Seller contained in this Agreement shall have been true in all material respects when made, and shall
be true in all material respects on the Closing Date.

 

9.1.3            Prior
to the Closing, Seller shall have continued to maintain, operate and manage the Premises, or cause same to be done, in the same manner
that Seller has heretofore maintained, operated and managed the Premises, or caused same to be done.

 

9.1.4            No
condemnation or similar action or proceeding shall have been threatened or instituted against the Premises or any portion thereof.

 

9.1.5            Seller
shall have executed the Lease and shall have caused Guarantor to execute the Guaranty.

 

9.1.6            Seller
shall have furnished Buyer with the Estoppel Certificate.

 

9.2            Seller
shall use commercially reasonable and good faith efforts to cause all of Buyer's conditions to Closing to be satisfied by the Closing
Date. The failure of any condition precedent to Buyer’s obligations to purchase the Premises shall not constitute a default under
this Agreement by Seller, unless caused by the act or omission of Seller. If any of Buyer's conditions to Closing have not been satisfied
or waived by Buyer in its sole discretion by the scheduled date of Closing, Buyer shall have the right to either (i) terminate this
Agreement and require a prompt refund of the Deposit or (ii) extend the Closing Date for up to thirty (30) days to allow Seller an
opportunity to satisfy all such conditions to Closing. The parties acknowledge that the contingencies set forth in this Section 9
are for the sole benefit of Buyer and Buyer may unilaterally waive such contingencies.

 

9.3            Seller’s
obligations under this Agreement are expressly subject to the timely fulfillment of the conditions set forth in this Section 9.3
on or before the Closing Date. Each condition may be waived in whole or part only by written notice of such waiver from Seller to Buyer.

 

(a)                Buyer
shall have performed and complied 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; and

 

(b)               On
the Closing Date, the representations and warranties of Buyer set forth in this Agreement shall be true, accurate and complete.

 

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10.            Provisions
with Respect to Closing.

 

10.1         At
Closing, Seller shall deliver to Buyer the following documents, duly executed and acknowledged:

 

10.1.1            a
special warranty deed to the Premises in a customary form, subject only to the Permitted Encumbrances, duly executed by Seller and acknowledged
and in proper form for recording with state, county or other local transfer taxes paid by Seller (the “Deed”);

 

10.1.2            the
Lease and the Guaranty;

 

10.1.3            the
Estoppel Certificate;

 

10.1.4            a
bill of sale in a customary form reasonably acceptable to Buyer, duly executed by Seller, transferring to Buyer any Personal Property
included within the Premises, containing warranties that Seller is the absolute owner thereof and that it is free and clear of all liens,
charges and encumbrances and that Seller has full right, power and authority to sell the Personal Property and to execute and deliver
the bill of sale and that Seller makes no other warranties express or implied;

 

10.1.5 a certificate of Seller’s
Non-Foreign Status;

 

10.1.6            all
keys to all locks on the Premises;

 

10.1.7            to
the extent in Seller’s possession or control, copies of all operating records relating to the Premises; and to the extent in Seller’s
possession or control, originals, or copies if Seller does not have originals, of any permits, warranties or plans or specifications related
to the Premises;

 

10.1.8 such evidence or affidavits
as may be reasonably required by the Title Company regarding the status of title and the authority of the persons executing the various
documents on behalf of Seller in connection with the transactions contemplated hereby; and

 

10.1.9 a certification by
Seller that the representations and warranties contained in Section 8 remain true and valid as of the Closing Date;

 

10.1.10 certificates of insurance
from Seller in accordance with the terms of the Lease naming Buyer (or a related or affiliated entity thereof), Buyer’s property
manager and Buyer’s lender (if any) as additional insureds; and

 

10.1.11            all
other documents Seller is required to deliver pursuant to the provisions of this Agreement and any additional documents reasonably required
in connection with this Agreement.

 

10.2         At
Closing, Buyer shall deliver to Seller the balance of the Purchase Price in accordance with Section 2.1.

 

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10.3            Buyer
and Seller shall each execute and deliver at Closing applicable state and local conveyance tax forms and Buyer and Seller shall mutually
execute and deliver to each other a closing statement in customary form, acceptable to both parties.

 

10.4            At
Closing, Buyer (or Buyer’s assignee taking title to the Premises) and Seller shall execute and deliver that certain Lease Agreement
whereby Buyer (or Buyer’s assignee taking title to the Premises), as landlord, leases the Premises to Seller, as tenant (the “Lease”),
in the form of which is attached hereto as Schedule “B” and made a part hereof and shall also deliver proof of insurance and
other items required of Seller as tenant under the Lease. The Lease and the obligations of Seller, as tenant, thereunder shall be guaranteed
by Guarantor. Seller hereby agrees to cause Guarantor to execute the Guaranty attached to the Lease as Exhibit B at the Closing (the
 “Guaranty”).

 

10.5            At
the Closing, Buyer shall deliver the following items:

 

(a)            immediately
available federal funds sufficient to pay the Purchase Price (less the Deposit and plus or minus any adjustments, credits or prorations
provided for herein) and Buyer’s share of all escrow costs and closing expenses;

 

(b)            such
documents and instruments required by the Title Company in order to issue the owner’s policy of title insurance, and such evidence
or documents as may reasonably be required by the Title Company evidencing the status and capacity of Buyer and the authority of the person
or persons who are executing the various documents on behalf of Buyer in connection with the purchase of the Premises; and

 

(c)            Such
other commercially reasonable documents Buyer is required to deliver as are consistent with the terms of this Agreement and reasonably
required to close the transaction contemplated hereby.

 

11.            Prorations
and Expenses. The following items shall be apportioned as of 11:59 P.M. of the day immediately preceding the Closing Date:

 

11.1            At
Closing, Seller shall pay prorated rent for the first month under the Lease (or Buyer may take such payment as a credit at Closing). At
the Closing, Seller shall have caused all real property taxes and assessments with respect to the Premises to be fully paid with no amounts
past due. Since Seller, as the tenant, will be responsible for all such real property taxes and assessments following the Closing under
the terms of the Lease, such taxes and assessments for periods after the Closing will not be adjusted between the Buyer and the Seller.
Taxes, sewer rents and pure water charges on the basis of the fiscal year for which assessed shall be current and evidence of current
payments shall be provided to Buyer at the Closing.

 

11.2            Services
for electricity, gas, water, refuse collection and other utilities or services in Seller’s name shall be read and/or made on the
Closing Date, and such final bills shall be paid by Seller so that all such utility and services charges shall be current at the time
of Closing; provided, however, that to the extent any such services or utilities are in Seller’s name and shall remain in Seller’s
name after the Closing and pursuant to the Lease, such services and utilities shall not be prorated, but rather, shall be paid in accordance
with the terms of the Lease, including, without limitation, any such past due utility and service charges, which shall be Seller’s
responsibility following the Closing and Seller shall provide evidence of payment of same. The obligations of Seller as tenant set forth
in Section 11 shall survive the Closing.

 

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11.3         Seller
shall pay all costs of discharging any existing mortgages or other liens related to the Premises, all costs of obtaining and recording
any necessary title curatives and the full cost of all tax and recording fees on any documents relating to the transfer of Seller’s
right, title and interest in and to the Premises and the transfer herein contemplated (including, without limitation, any transfer tax
owed). Seller shall pay the cost of the Title Commitment, the Survey (in an amount not to exceed $4,500.00), the searches as set forth
in Section 7 and for the cost of Buyer’s ALTA owner’s policy of title insurance for the Premises in the amount of the
Purchase Price with extended coverage over the pre-printed exceptions. Buyer shall be responsible for all costs related to the Survey
(to the extent the same exceed the amount of $4,500.00), any loan obtained by Buyer in connection with the purchase of the Premises (including
any premium for any loan title insurance policy and endorsements thereto and any appraisal, Phase I environmental report, property condition
report and other due diligence expenses), any money lender’s escrow charges and fees, and any elective endorsements to the owner’s
policy of title insurance. Each party shall pay fifty percent (50%) of the escrow charges of the Title Company in connection with the
Closing of this transaction. Each party shall pay their respective attorneys’ fees. All other Closing costs shall be paid for in
accordance with local custom in the City of Pontiac, Oakland County, for commercial properties.

 

12.            Brokerage.

 

12.1         Seller
and Buyer each represent and warrant to the other that they have not dealt with any broker or other intermediary to whom a fee or commission
is payable in connection with or relating to the sale and purchase of the Premises other than Cresa Global Inc. (the “Broker”).
Seller shall be responsible for all commissions payable to the Broker and Buyer shall have no responsibility or liability in connection
therewith. Seller and Buyer hereby agree to defend, indemnify and hold the other harmless from and against any and all liability, claim,
charge or damages, including without limitation, counsel fees and court costs, incurred by the other as a result of any breach of the
foregoing representations and obligations. The provisions of this Section 12 shall survive the Closing.

 

13.            Risk
of Loss.

 

13.1         Eminent
Domain

 

13.1.1            In
the event prior to Closing of a taking by condemnation or eminent domain or the commencement of any such proceedings prior to Closing,
with respect to all or a material part of the Premises, as reasonably determined by the parties, Buyer shall have the right, at Buyer's
option, to terminate this Agreement by giving written notice to Seller within twenty (20) days after Buyer receives written notice of
such proceedings, in which event the Deposit shall be refunded to Buyer within three (3) Business Days. If Buyer does not so terminate
this Agreement, this Agreement shall remain in full force and effect, the Purchase Price for the Premises shall be as set forth herein
and at the Closing Seller shall assign to Buyer all rights of Seller in and to any awards or other proceeds payable by reason of any such
taking.

 

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13.1.2            Seller
agrees to notify Buyer of any condemnation or eminent domain proceedings within five (5) days after Seller learns of such proceedings.
Until Closing or the termination of this Agreement, any negotiation for, or agreement to, and all contests of any offers and awards relating
to eminent domain proceedings, shall be conducted with the joint approval and consent of the Seller and the Buyer.

 

13.2         Fire
or other casualty

 

13.2.1            The
risk of loss or damage to any of the improvements or property on the Premises by fire, vandalism or other casualty or hazards from the
date hereof to and including the date of the Closing shall be on the Seller. In the event of any such loss Seller shall notify Buyer of
such fact and for any loss that will exceed a cost of $100,000.00 to repair or restore, the Buyer may elect to either cancel this Agreement
and the Deposit shall be returned to Buyer within three (3) Business Days, or Buyer may purchase the Premises notwithstanding the
loss or damage and the Buyer shall accept an assignment of the proceeds of the insurance payable by reason of the loss or damage (together
with a credit against the Purchase Price in the amount of Seller's deductible and provided that Seller confirms its obligation to undertake
such repairs pursuant to, and in accordance with, the terms of the Lease). Seller represents that the improvements on the Premises are
presently insured against fire losses, with extended coverage for their full replacement cost in accordance with valid insurance policies.
Seller agrees to maintain said insurance between the date hereof and the Closing Date, and to transfer to Buyer at the Closing the proceeds
of any insurance payable by reason of any loss or damage to said improvements during such period, or the right to receipt thereof.

 

14.            Default
by Buyer or Seller; Termination of Agreement.

 

14.1         Buyer's
Default.

 

Should Buyer default on its
obligations provided herein then Seller shall so notify Buyer in writing specifying the nature of the default. Buyer shall have five (5) Business
Days from the date of such notice to cure the default. If Buyer fails to cure said breach within said five (5) Business Day period
or otherwise resolve the matter to Seller’s reasonable satisfaction, Seller shall have the option to cancel this Agreement upon
notice to Buyer and upon such cancellation, the Deposit shall be retained by Seller as liquidated damages. The retention of the Deposit
shall be Seller's sole and exclusive remedy in the event of default by Buyer and shall be in lieu of any and all other legal and equitable
remedies otherwise available to Seller and Seller hereby waives any other rights or remedies Seller may have against Buyer. In the event
of a valid termination by Seller pursuant to this Section 14.1, this Agreement shall terminate and the parties hereto shall be released
from any further obligations hereunder each to the other except for those matters which, by their terms, survive the termination of this
Agreement. This Section 14.1 shall not limit the liability of Buyer under its obligations contained in Section 4 and 12.1 of
this Agreement.

 

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14.2         Seller's
Default.

 

In the event Seller fails to
perform or observe any of the covenants or obligations to be performed or observed by Seller under this Agreement at or prior to Closing,
Buyer’s sole and exclusive remedies shall be entitled to either (a) terminate this Agreement by delivery of written notice
to Seller, receive prompt return of the Deposit and have Seller reimburse Buyer within five (5) days after such termination for all
documented out of pocket expenses incurred by Buyer in connection with the purchase of the Premises pursuant to this Agreement, not to
exceed $75,000.00 (b) pursue an action for specific performance, or (c) waive such default and proceed to Closing without any
reduction in the Purchase Price. If Buyer elects to seek specific performance but specific performance is not available to Buyer, then
Buyer shall have the right to terminate this Agreement by delivery of written notice to Seller, receive a prompt refund of the Deposit
and Seller shall reimburse Buyer within five (5) days after such termination for all expenses incurred by Buyer in connection with
the purchase of the Premises pursuant to this Agreement, not to exceed $75,000.00. In the event of a valid termination by Buyer pursuant
to this Section 14.2, this Agreement shall terminate and the parties hereto shall be released from any further obligations hereunder
each to the other except for those matters which, by their terms, survive the termination of this Agreement. This Section 14.2 shall
not limit the liability of Seller under its obligations contained in Section 8 and 12.1 of this Agreement.

 

15.            Entire
Agreement.

 

15.1            This
is the entire agreement between the parties and there are no other terms, obligations, covenants, representations, or conditions, oral
or otherwise, of any kind, whatsoever. Any agreement hereafter made shall be ineffective to change, modify or discharge this Agreement
in whole or in part unless such agreement is in writing and signed by the party against whom enforcement of the change, modification or
discharge is sought.

 

16.            Notices.

 

16.1            All
notices, requests and other communications under this Agreement shall be in writing and shall be delivered personally, or shall be sent
by overnight mail or by certified mail return receipt request, or by electronic mail, to the address of each party set forth herein with
a copy, addressed as follows:

 

	If intended for Seller,	 
	to be sent to:	Limbach company, llc
	 	926 Featherstone Street
	 	Pontiac, Michigan 48342
	 	Attention: ________________
	 	Email:
	 	 
	With a copy to:	 
	 	Burke, Warren, MacKay, Serritella, P.C.
	 	330 N. Wabash Avenue, Suite 2100
	 	Chicago, Illinois 60611
	 	Attention: Rachel D. Wanroy and Stephen R. Schuster
	 	Email: rwanroy@burkelaw.com and sschuster@burkelaw.com

 

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	If intended for Buyer,	 
	to be sent to:	ROYAL OAK ACQUISITIONS LLC
	 	600 East Avenue, Suite 200
	 	Rochester, New York 14607
	 	Attention: Bruce E. Bender
	 	Email: bbender@royaloakrealtytrust.com
	 	 
	With a copy to:	Harter Secrest & Emery LLP
	 	1600 Bausch & Lomb Place
	 	Rochester, New York 14604
	 	Attention: John A. Anderson, Esq.
	 	Email: janderson@hselaw.com

 

or such other address of which Seller or Buyer
shall have given notice as herein provided. Notices hereunder shall be sufficient if given by counsel to the parties as set forth above
and notices received by counsel for a party shall be deemed received by the party so represented. All such notices, requests and other
communications shall be deemed to have been sufficiently given for all purposes hereof on the third day after mailing, or on the date
of actual receipt so long as, with respect to electronic mail, receipt is confirmed by an electronic response by the receiver.

 

17.            Miscellaneous.

 

17.1            Buyer
or Seller may elect to exchange other property of like kind and qualifying use within the meaning of Section 1031 of the Internal
Revenue Code of 1986, as amended, and the Regulations promulgated thereunder, for fee title in the Premises which is the subject of this
Agreement. Buyer and Seller each expressly reserves the right to assign its rights, but not its obligations, hereunder to a Qualified
Intermediary as provided in IRC Reg. 1.1031 (k)-1(g)(4) at any time on or before the Closing Date. Each party shall cooperate with
the other party in effectuating any such exchange, so long as there is no cost to the counterparty required by such cooperation.

 

17.2            The
captions in this Agreement are inserted for reference only and in no way define, describe or limit the scope or intent of this Agreement
or any of the provisions hereof.

 

17.3            This
Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective heirs, executors, administrators,
legal representatives and assigns.

 

17.4            Buyer
may at any time assign its interests in this Agreement, without Seller’s consent, to an affiliated entity to be formed for the purpose
of consummating the transactions contemplated by this Agreement. Following such assignment by Buyer, the assignor and assignee shall remain
jointly and severally liable under this Agreement.

 

17.5            This
Agreement may be executed in counterparts, each of which shall be deemed an original, and all of such counterparts together shall constitute
one and the same Agreement. This Agreement may be executed by facsimile, portable document format or other electronic means, and any counterpart
executed and delivered by such electronic means shall be binding as an original.

 

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17.6            All
pronouns and nouns and any variations thereof shall be deemed to refer to the masculine, feminine or neuter, singular or plural, as the
identity of the parties may require. Persons signing in a representative capacity individually warrant their authority to do so.

 

17.7            No
delay or omission by either party hereto in exercising any right shall impair any such right or be construed to be a waiver of such right.

 

17.8            This
Agreement shall be governed by the laws of the State of Michigan. Any lawsuit arising out of or otherwise relating to the subject matter
of this Agreement shall be brought in state or federal court in Oakland County, Michigan, and Seller and Buyer each hereby consent to
the jurisdiction and venue of such courts.

 

17.9            Partial
invalidity of this Agreement shall not render the remainder of this Agreement unenforceable.

 

17.10            Time
is of the essence for the purposes of this Agreement.

 

17.11            If
the time period by which any right, option or election provided under this Agreement must be exercised, or by which any act required hereunder
must be performed, or by which the Closing must be held, expires on a Saturday, Sunday or legal or bank holiday in the State of Michigan,
then such time period will be automatically extended through the close of business on the next regularly scheduled Business Day. For purposes
of this Agreement, a “Business Day” shall mean any day which is not a Saturday, Sunday or legal or bank holiday in
the State of Michigan.

 

17.12            The
parties each agree to do, execute, acknowledge and deliver all such further acts, commercially reasonable instruments and assurances and
to take all such further action before or after the Closing as shall be necessary or desirable to fully carry out this Agreement and to
fully consummate and effect the transactions contemplated hereby. The provisions of this section shall survive the Closing.

 

17.13            In the event any provision
or portion of this Agreement is held by any court of competent jurisdiction to be invalid or unenforceable, such holding will not affect
the remainder hereof, and the remaining provisions shall continue in full force and effect to the same extent as would have been the case
had such invalid or unenforceable provision or portion never been a part hereof.

 

17.14            This Agreement (including
the documents, instruments and agreements referred to in this Agreement) constitutes the entire agreement of the parties hereto with respect
to the subject matter hereof and supersedes all prior agreements and understandings, both written and oral, among the parties with respect
to the subject matter hereof and is not intended to confer upon any other person any rights or remedies hereunder.

 

17.15            All exhibits mentioned
in this Agreement shall be attached to this Agreement and shall form an integral part hereof.

 

[Signature Page Follows]

 

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

 

	 	BUYER:
	 	 
	 	ROYAL OAK ACQUISITIONS LLC
	 	a New York limited liability company
	 	 
	 	    By:	Royal Oak Realty Trust (Operating Company) LLC, Sole Member
	 	 	 
	 	 	By:	Royal Oak Realty Trust Inc., Manager
	 	 	 	 
	 	 	 	By:	/s/ Bruce E. Bender
	 	 	 	 	Bruce E. Bender, Vice-President

 

	 	SELLER:
	 	 
	 	Limbach company, llc,
	 	a Delaware limited liability company
	 	 
	 	By:	/s/ Jayme Brooks         
	 	Name:	Jayme Brooks
	 	Title:	EVP & CFO
	 	 
	 	GUARANTOR:
	 	 
	 	(IN ACKNOWLEDGEMENT OF THE GUARANTOR PROVISION CONTAINED IN SECTION 10.4 OF THE AGREEMENT)
	 	 
	 	Limbach FACILITY SERVICES, llc,
	 	a Delaware limited liability company
	 	 	 
	 	By:	/s/ Jayme Brooks
	 	Name:	Jayme Brooks
	 	Title:	EVP & CFO
	 	 
	 	ESCROW AGENT (IN ACKNOWLEDGEMENT OF THE PROVISIONS SET FORTH IN SECTION 2.1.2 OF THIS AGREEMENT):
	 	 
	 	CHICAGO TITLE INSURANCE COMPANY
	 	 	 
	 	By:	/s/ Val E. Juve
	 	Name:	Val E. Juve
	 	Title:	Vice President
	 	 

 

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Schedules Omitted from Purchase Agreement

 

Certain schedules have been omitted pursuant to Item 601(a)(5) of
Regulation S-K. Limbach Holdings, Inc. agrees to furnish a copy of any omitted schedules to the Securities and Exchange Commission
upon request.

 

List of Omitted Schedules

Schedule “A” - Legal Description of the Premises

Schedule “B” - Form of Lease and Guaranty

Schedule “C” - Form of Estoppel

Schedule D - List of the Delivery Items

Schedule “1.2.2” - Excluded Items

 

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