Document:

Exhibit 10.8

 

	SBA Loan # 6781797900	Application #3303511283

 

SECURITY AGREEMENT

 

Read
this document carefully. It grants the SBA a security interest (lien) in all the property described in paragraph 4.

 

This document
is predated. DO NOT CHANGE THE DATE ON THIS DOCUMENT.

 

 

 

 

 

 

 

 

 

 

 

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	SBA Loan # 6781797900	Application #3303511283

 

	

	 

                                                                U.S. Small Business Administration

                                                                SECURITY AGREEMENT

                                                                 

 

 

	SBA Loan #:	6781797900
	Borrower:	Black Ridge Oil & Gas, Inc
	Secured Party:	The Small Business Administration, an Agency of the U.S. Government
	Date:	06.16.2020
	Note Amount:	$150,000.00

 

	 	1.	DEFINITIONS.

 

Unless otherwise specified, all terms used in this
Agreement will have the meanings ascribed to them under the Official Text of the Uniform Commercial Code, as it may be amended
from time to time, (“UCC”). “SBA” means the Small Business Administration, an Agency of the U.S. Government.

 

	 	2.	GRANT OF SECURITY INTEREST.

 

For value received, the Borrower grants to the
Secured Party a security interest in the property described below in paragraph 4 (the “Collateral”).

 

	 	3.	OBLIGATIONS SECURED.

 

This Agreement secures the payment and performance
of: (a) all obligations under a Note dated 06.16.2020, made by Black Ridge Oil & Gas, Inc , made payable to Secured Lender,
in the amount of $150,000.00 (“Note”), including all costs and expenses (including reasonable attorney’s fees),
incurred by Secured Party in the disbursement, administration and collection of the loan evidenced by the Note; (b) all costs and
expenses (including reasonable attorney’s fees), incurred by Secured Party in the protection, maintenance and enforcement
of the security interest hereby granted; (c) all obligations of the Borrower in any other agreement relating to the Note; and (d)
any modifications, renewals, refinancings, or extensions of the foregoing obligations.

 

 

 

 

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	SBA Loan # 6781797900	Application #3303511283

 

	 	4.	COLLATERAL DESCRIPTION.

 

The Collateral in which this security
interest is granted includes the following property that Borrower now owns or shall acquire or create immediately upon the
acquisition or creation thereof: all tangible and intangible personal property, including, but not limited to: (a) inventory,
(b) equipment, (c) instruments, including promissory notes (d) chattel paper, including tangible chattel paper and electronic
chattel paper, (e) documents, (f) letter of credit rights, (g) accounts, including health-care insurance receivables and
credit card receivables, (h) deposit accounts, (i) commercial tort claims, (j) general intangibles, including payment
intangibles and software and (k) as-extracted collateral as such terms may from time to time be defined in the Uniform
Commercial Code. The security interest Borrower grants includes all accessions, attachments, accessories, parts, supplies and
replacements for the Collateral, all products, proceeds and collections thereof and all records and data relating
thereto.

 

		5.	RESTRICTIONS ON COLLATERAL TRANSFER.

 

Borrower will not sell, lease, license or otherwise
transfer (including by granting security interests, liens, or other encumbrances in) all or any part of the Collateral or Borrower’s
interest in the Collateral without Secured Party’s written or electronically communicated approval, except that Borrower
may sell inventory in the ordinary course of business on customary terms. Borrower may collect and use amounts due on accounts
and other rights to payment arising or created in the ordinary course of business, until notified otherwise by Secured Party in
writing or by electronic communication.

 

		6.	MAINTENANCE AND LOCATION OF COLLATERAL; INSPECTION; INSURANCE.

 

Borrower must promptly notify Secured Party by
written or electronic communication of any change in location of the Collateral, specifying the new location. Borrower hereby grants
to Secured Party the right to inspect the Collateral at all reasonable times and upon reasonable notice. Borrower must: (a) maintain
the Collateral in good condition; (b) pay promptly all taxes, judgments, or charges of any kind levied or assessed thereon; (c)
keep current all rent or mortgage payments due, if any, on premises where the Collateral is located; and (d) maintain hazard insurance
on the Collateral, with an insurance company and in an amount approved by Secured Party (but in no event less than the replacement
cost of that Collateral), and including such terms as Secured Party may require including a Lender’s Loss Payable Clause
in favor of Secured Party. Borrower hereby assigns to Secured Party any proceeds of such policies and all unearned premiums thereon
and authorizes and empowers Secured Party to collect such sums and to execute and endorse in Borrower’s name all proofs of
loss, drafts, checks and any other documents necessary for Secured Party to obtain such payments.

 

		7.	CHANGES TO BORROWER’S LEGAL STRUCTURE, PLACE OF BUSINESS, JURISDICTION
OF ORGANIZATION, OR NAME.

 

Borrower must notify Secured Party by written
or electronic communication not less than 30 days before taking any of the following actions: (a) changing or reorganizing the
type of organization or form under which it does business; (b) moving, changing its place of business or adding a place of business;
(c) changing its jurisdiction of organization; or (d) changing its name. Borrower will pay for the preparation and filing of all
documents Secured Party deems necessary to maintain, perfect and continue the perfection of Secured Party’s security interest
in the event of any such change.

 

 

 

 

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	SBA Loan # 6781797900	Application #3303511283

 

		8.	PERFECTION OF SECURITY INTEREST.

 

Borrower consents, without further notice,
to Secured Party’s filing or recording of any documents necessary to perfect, continue, amend or terminate its security
interest. Upon request of Secured Party, Borrower must sign or otherwise authenticate all documents that Secured Party deems
necessary at any time to allow Secured Party to acquire, perfect, continue or amend its security interest in the Collateral.
Borrower will pay the filing and recording costs of any documents relating to Secured Party’s security interest.
Borrower ratifies all previous filings and recordings, including financing statements and notations on certificates of title.
Borrower will cooperate with Secured Party in obtaining a Control Agreement satisfactory to Secured Party with respect to any
Deposit Accounts or Investment Property, or in otherwise obtaining control or possession of that or any other Collateral.

 

	 	9.	DEFAULT.

 

Borrower
is in default under this Agreement if: (a) Borrower fails to pay, perform or otherwise comply with any provision of this Agreement;
(b) Borrower makes any materially false representation, warranty or certification in, or in connection with, this Agreement, the
Note, or any other agreement related to the Note or this Agreement; (c) another secured party or judgment creditor exercises its
rights against the Collateral; or (d) an event defined as a “default”
under the Obligations occurs. In the event of default and if Secured Party requests, Borrower must
assemble and make available all Collateral at a place and time designated by Secured Party. Upon default and at any time thereafter,
Secured Party may declare all Obligations secured hereby immediately due and payable, and, in its sole discretion, may proceed
to enforce payment of same and exercise any of the rights and remedies available to a secured party by law including those available
to it under Article 9 of the UCC that is in effect in the jurisdiction where Borrower or the Collateral is located. Unless otherwise
required under applicable law, Secured Party has no obligation to clean or otherwise prepare the Collateral for sale or other
disposition and Borrower waives any right it may have to require Secured Party to enforce the security interest or payment or
performance of the Obligations against any other person.

 

	 	10.	FEDERAL RIGHTS.

 

When SBA is the holder of the Note, this Agreement
will be construed and enforced under federal law, including SBA regulations. Secured Party or SBA may use state or local procedures
for filing papers, recording documents, giving notice, enforcing security interests or liens, and for any other purposes. By using
such procedures, SBA does not waive any federal immunity from state or local control, penalty, tax or liability. As to this Agreement,
Borrower may not claim or assert any local or state law against SBA to deny any obligation, defeat any claim of SBA, or preempt
federal law.

 

	 	11.	GOVERNING LAW.

 

Unless SBA is the holder of the Note, in which
case federal law will govern, Borrower and Secured Party agree that this Agreement will be governed by the laws of the jurisdiction
where the Borrower is located, including the UCC as in effect in such jurisdiction and without reference to its conflicts of laws
principles.

 

 

 

 

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	SBA Loan # 6781797900	Application #3303511283

 

	 	12.	SECURED PARTY RIGHTS.

 

All
rights conferred in this Agreement on Secured Party are in addition to those granted to it by law, and all rights are cumulative
and may be exercised simultaneously. Failure of Secured Party to enforce any rights or remedies will not constitute an estoppel
or waiver of Secured Party’s ability to exercise such rights or remedies. Unless otherwise
required under applicable law, Secured Party is not liable for any loss or damage to Collateral in its possession or under its
control, nor will such loss or damage reduce or discharge the Obligations that are due, even if Secured Party’s
actions or inactions caused or in any way contributed to such loss or damage.

 

	 	13.	SEVERABILITY.

 

If any provision of this Agreement is unenforceable,
all other provisions remain in effect.

 

	 	14.	BORROWER CERTIFICATIONS.

 

Borrower certifies
that: (a) its Name (or Names) as stated above is correct; (b) all Collateral is owned or titled in the Borrower’s name and
not in the name of any other organization or individual; (c) Borrower has the legal authority to grant the security interest in
the Collateral; (d) Borrower’s ownership in or title to the Collateral is free of all adverse claims, liens, or security
interests (unless expressly permitted by Secured Party); (e) none of the Obligations are or will be primarily for personal, family
or household purposes; (f) none of the Collateral is or will be used, or has been or will be bought primarily for personal, family
or household purposes; (g) Borrower has read and understands the meaning and effect of all terms of this Agreement.

 

	 	15.	BORROWER NAME(S) AND SIGNATURE(S).

 

By signing or otherwise authenticating below,
each individual and each organization becomes jointly and severally obligated as a Borrower under this Agreement.

 

 

 

	 	Black Ridge Oil & Gas, Inc	 	 
	 	 	 	 
	 	/s/ Kenneth DeCubellis	Date:  	   06.16.2020
	 	Kenneth DeCubellis, Owner/Officer	 	 

 

 

 

 

    		 Page 5 of 5Exhibit 10.9

 

	SBA Loan # 6781797900	Application #3303511283

 

LOAN AUTHORIZATION AND AGREEMENT (LA&A)

 

A PROPERLY SIGNED DOCUMENT IS

REQUIRED PRIOR TO ANY

DISBURSEMENT

 

	CAREFULLY READ THE LA&A:

This document describes the terms and conditions of your loan.
It is your responsibility to comply with ALL the terms and conditions of your loan.

 

 

 

	
        SIGNING THE LA&A:

        All borrowers must sign the LA&A.

        ·          
        Sign your name exactly as it appears on the LA&A. If typed incorrectly, you should sign with the correct
        spelling.

        ·          
        If your middle initial appears on the signature line, sign with your middle initial.

        ·          
        If a suffix appears on the signature line, such as Sr. or Jr., sign with your suffix.

        ·          
        Corporate Signatories: Authorized representatives should sign the signature page.

         

        Your signature represents
        your agreement to comply

        with the terms and conditions of the loan. 

 

 

 

 

 

 

 

 

 

 

 

 

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	SBA Loan # 6781797900	Application #3303511283

 

U.S. Small Business Administration

Economic Injury Disaster Loan

LOAN
AUTHORIZATION AND AGREEMENT

Date: 06.16.2020 (Effective Date)

 

On the above date, this Administration (SBA) authorized
(under Section 7(b) of the Small Business Act, as amended) a Loan (SBA Loan #6781797900) to Black Ridge Oil & Gas, Inc (Borrower)
of 110 N 5TH ST STE 410 MINNEAPOLIS Minnesota 55403 in the amount of one hundred and fifty thousand and 00/100 Dollars ($150,000.00),
upon the following conditions:

 

PAYMENT

 

		·	Installment payments, including principal and interest, of $731.00 Monthly, will begin
Twelve (12) months from the date of the promissory Note. The balance of principal and interest will be payable Thirty
(30) years from the date of the promissory Note.

 

INTEREST

 

		·	Interest will accrue at the rate of 3.75% per annum and will accrue only on funds actually
advanced from the date(s) of each advance.

 

PAYMENT TERMS 

 

		·	Each payment will be applied first to interest accrued to the date of receipt of each payment,
and the balance, if any, will be applied to principal.

 

		·	Each payment will be made when due even if at that time the full amount of
the Loan has not yet been advanced or the authorized amount of the Loan has been reduced.

 

COLLATERAL

 

		·	For loan amounts of greater than $25,000, Borrower hereby grants to SBA, the secured party hereunder,
a continuing security interest in and to any and all “Collateral” as described herein to secure payment and performance
of all debts, liabilities and obligations of Borrower to SBA hereunder without limitation, including but not limited to all interest,
other fees and expenses (all hereinafter called “Obligations”). The Collateral includes the following property that
Borrower now owns or shall acquire or create immediately upon the acquisition or creation thereof: all tangible and intangible
personal property, including, but not limited to: (a) inventory, (b) equipment, (c) instruments, including promissory notes (d)
chattel paper, including tangible chattel paper and electronic chattel paper, (e) documents, (f) letter of credit rights, (g) accounts,
including health-care insurance receivables and credit card receivables, (h) deposit accounts, (i) commercial tort claims, (j)
general intangibles, including payment intangibles and software and (k) as-extracted collateral as such terms may from time to
time be defined in the Uniform Commercial Code. The security interest Borrower grants includes all accessions, attachments, accessories,
parts, supplies and replacements for the Collateral, all products, proceeds and collections thereof and all records and data relating
thereto.

 

		·	For loan amounts of $25,000 or less, SBA is not taking a security interest in any collateral.
Page 2 of 11

 

 

 

 

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	SBA Loan # 6781797900	Application #3303511283

 

REQUIREMENTS RELATIVE TO COLLATERAL 

 

		·	Borrower will not sell or transfer any collateral (except normal inventory turnover in the ordinary
course of business) described in the "Collateral" paragraph hereof without the prior written consent of SBA.

 

		·	Borrower will neither seek nor accept future advances under any superior liens on the collateral
securing this Loan without the prior written consent of SBA.

 

USE OF LOAN PROCEEDS 

 

		·	Borrower will use all the proceeds of this Loan solely as working capital to alleviate economic
injury caused by disaster occurring in the month of January 31, 2020 and continuing thereafter and to pay Uniform Commercial Code
(UCC) lien filing fees and a third-party UCC handling charge of $100 which will be deducted from the Loan amount stated above.

 

REQUIREMENTS FOR USE OF LOAN PROCEEDS AND RECEIPTS

 

		·	Borrower will obtain and itemize receipts (paid receipts, paid invoices or cancelled checks) and
contracts for all Loan funds spent and retain these receipts for 3 years from the date of the final disbursement. Prior to each
subsequent disbursement (if any) and whenever requested by SBA, Borrower will submit to SBA such itemization together with copies of the receipts.

 

		·	Borrower will not use, directly or indirectly, any portion of the proceeds of this Loan to relocate
without the prior written permission of SBA. The law prohibits the use of any portion of the proceeds of this Loan for voluntary
relocation from the business area in which the disaster occurred. To request SBA's prior written permission to relocate, Borrower
will present to SBA the reasons therefore and a description or address of the relocation site. Determinations of (1) whether a
relocation is voluntary or otherwise, and (2) whether any site other than the disaster-affected location is within the business
area in which the disaster occurred, will be made solely by SBA.

 

		·	Borrower will, to the extent feasible, purchase only American-made equipment and products with
the proceeds of this Loan.

 

		·	Borrower will make any request for a loan increase for additional disaster-related damages as
soon as possible after the need for a loan increase is discovered. The SBA will not consider a request for a loan increase received
more than two (2) years from the date of loan approval unless, in the sole discretion of the SBA, there are extraordinary
and unforeseeable circumstances beyond the control of the borrower.

 

DEADLINE FOR RETURN OF LOAN CLOSING DOCUMENTS

 

		·	Borrower will sign and return the loan closing documents to SBA within 2 months of the date
of this Loan Authorization and Agreement. By notifying the Borrower in writing, SBA may cancel this Loan if the Borrower fails
to meet this requirement. The Borrower may submit and the SBA may, in its sole discretion, accept documents after 2 months of the
date of this Loan Authorization and Agreement.

 

 

 

 

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	SBA Loan # 6781797900	Application #3303511283

 

COMPENSATION FROM OTHER SOURCES

 

		·	Eligibility for this disaster Loan is limited to disaster losses that are not compensated by
other sources. Other sources include but are not limited to: (1) proceeds of policies of insurance or other indemnifications, (2)
grants or other reimbursement (including loans) from government agencies or private organizations, (3) claims for civil liability against other individuals,
organizations or governmental entities, and (4) salvage (including any sale or re-use) of items of damaged property.

 

		·	Borrower will promptly notify SBA of the existence and status of any claim or application for
such other compensation, and of the receipt of any such compensation, and Borrower will promptly submit the proceeds of same (not
exceeding the outstanding balance of this Loan) to SBA.

 

		·	Borrower hereby assigns to SBA the proceeds of any such compensation from other sources and authorizes
the payor of same to deliver said proceeds to SBA at such time and place as SBA shall designate.

 

		·	SBA will in its sole discretion determine whether any such compensation from other sources is
a duplication of benefits. SBA will use the proceeds of any such duplication to reduce the outstanding balance of this Loan, and
Borrower agrees that such proceeds will not be applied in lieu of scheduled payments.

 

DUTY TO MAINTAIN HAZARD INSURANCE

 

		·	Within 12 months from the date of this Loan Authorization and Agreement the Borrower will provide
proof of an active and in effect hazard insurance policy including fire, lightning, and extended coverage on all items used to
secure this loan to at least 80% of the insurable value. Borrower will not cancel such coverage and will maintain such coverage
throughout the entire term of this Loan. BORROWER MAY NOT BE ELIGIBLE FOR EITHER ANY FUTURE DISASTER ASSISTANCE OR SBA FINANCIAL
ASSISTANCE IF THIS INSURANCE IS NOT MAINTAINED AS STIPULATED HEREIN THROUGHOUT THE ENTIRE TERM OF THIS LOAN. Please submit
proof of insurance to: U.S. Small Business Administration, Office of Disaster Assistance, 14925 Kingsport Rd, Fort Worth, TX. 76155.

 

BOOKS AND RECORDS

 

		·	Borrower will maintain current and proper books of account in a manner satisfactory to SBA for the most recent 5 years until 3 years after the date of maturity,
including extensions, or the date this Loan is paid in full, whichever occurs first. Such books will include Borrower's financial
and operating statements, insurance policies, tax returns and related filings, records of earnings distributed and dividends paid
and records of compensation to officers, directors, holders of 10% or more of Borrower's capital stock, members, partners and proprietors.

 

		·	Borrower authorizes SBA to make or cause to be made, at Borrower's expense and in such a manner
and at such times as SBA may require: (1) inspections and audits of any books, records and paper in the custody or control of Borrower
or others relating to Borrower's financial or business conditions, including the making of copies thereof and extracts therefrom,
and (2) inspections and appraisals of any of Borrower's assets.

 

 

 

 

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	SBA Loan # 6781797900	Application #3303511283

 

		·	Borrower will furnish to SBA, not later than 3 months following the expiration of Borrower's fiscal
year and in such form as SBA may require, Borrower's financial statements.

 

		·	Upon written request of SBA, Borrower will accompany such statements with an 'Accountant's Review
Report' prepared by an independent public accountant at Borrower's expense.

 

		·	Borrower authorizes all Federal, State and municipal authorities to furnish reports of examination,
records and other information relating to the conditions and affairs of Borrower and any desired information from such reports,
returns, files, and records of such authorities upon request of SBA.

 

LIMITS ON DISTRIBUTION OF ASSETS

 

		·	Borrower will not, without the prior written consent of SBA, make any distribution of Borrower’s
assets, or give any preferential treatment, make any advance, directly or indirectly, by way of loan, gift, bonus, or otherwise,
to any owner or partner or any of its employees, or to any company directly or indirectly controlling or affiliated with or controlled
by Borrower, or any other company.

 

EQUAL OPPORTUNITY REQUIREMENT

 

		·	If Borrower has or intends to have employees, Borrower will post SBA Form 722, Equal Opportunity
Poster (copy attached), in Borrower's place of business where it will be clearly visible to employees, applicants for employment,
and the general public.

 

DISCLOSURE OF LOBBYING ACTIVITIES 

 

		·	Borrower agrees to the attached Certification Regarding Lobbying Activities

 

BORROWER’S CERTIFICATIONS 

 

Borrower certifies that:

 

		·	There has been no substantial adverse change in Borrower's financial condition (and organization,
in case of a business borrower) since the date of the application for this Loan. (Adverse changes include, but are not limited
to: judgment liens, tax liens, mechanic's liens, bankruptcy, financial reverses, arrest or conviction of felony, etc.)

 

		·	No fees have been paid, directly or indirectly, to any representative (attorney, accountant,
etc.) for services provided or to be provided in connection with applying for or closing this Loan, other than those reported on
SBA Form 5 Business Disaster Loan Application'; SBA Form 3501 COVID-19 Economic Injury Disaster Loan Application; or SBA Form 159,
'Compensation Agreement'. All fees not approved by SBA are prohibited.

 

 

 

 

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	SBA Loan # 6781797900	Application #3303511283

 

		·	All representations in the Borrower's Loan application (including all supplementary submissions)
are true, correct and complete and are offered to induce SBA to make this Loan.

 

		·	No claim or application for any other compensation for disaster losses has been submitted to or
requested of any source, and no such other compensation has been received, other than that which Borrower has fully disclosed to
SBA.

 

		·	Neither the Borrower nor, if the Borrower is a business, any principal who owns at least 50% of
the Borrower, is delinquent more than 60 days under the terms of any: (a) administrative order; (b) court order; or (c) repayment
agreement that requires payment of child support.

 

		·	Borrower certifies that no fees have been paid, directly or indirectly, to any representative
(attorney, accountant, etc.) for services provided or to be provided in connection with applying for or closing this Loan, other
than those reported on the Loan Application. All fees not approved by SBA are prohibited. If an Applicant chooses to employ an
Agent, the compensation an Agent charges to and that is paid by the Applicant must bear a necessary and reasonable relationship
to the services actually performed and must be comparable to those charged by other Agents in the geographical area. Compensation
cannot be contingent on loan approval. In addition, compensation must not include any expenses which are deemed by SBA to be unreasonable
for services actually performed or expenses actually incurred. Compensation must not include charges prohibited in 13 CFR 103 or SOP 50-30,
Appendix 1. If the compensation exceeds $500 for a disaster home loan or $2,500 for a disaster business loan, Borrower must
fill out the Compensation Agreement Form 159D which will be provided for Borrower upon request or can be found on the SBA website.

 

		·	Borrower certifies, to the best of its, his or her knowledge and belief, that the certifications
and representations in the attached Certification Regarding Lobbying are true, correct and complete and are offered to induce SBA
to make this Loan.

 

CIVIL AND CRIMINAL PENALTIES

 

		·	Whoever wrongfully misapplies the proceeds of an SBA disaster loan shall be civilly liable to
the Administrator in an amount equal to one-and-one half times the original principal amount of the loan under 15 U.S.C. 636(b).
In addition, any false statement or misrepresentation to SBA may result in criminal, civil or administrative sanctions including,
but not limited to: 1) fines, imprisonment or both, under 15 U.S.C. 645, 18 U.S.C. 1001, 18 U.S.C. 1014, 18 U.S.C. 1040, 18 U.S.C.
3571, and any other applicable laws; 2) treble damages and civil penalties under the False Claims Act, 31 U.S.C. 3729; 3) double
damages and civil penalties under the Program Fraud Civil Remedies Act, 31 U.S.C. 3802; and 4) suspension and/or debarment from
all Federal procurement and non-procurement transactions. Statutory fines may increase if amended by the Federal Civil Penalties
Inflation Adjustment Act Improvements Act of 2015.

 

RESULT OF VIOLATION OF THIS LOAN AUTHORIZATION
AND AGREEMENT

 

		·	If Borrower violates any of the terms or conditions of this Loan Authorization and Agreement,
the Loan will be in default and SBA may declare all or any part of the indebtedness immediately due and payable. SBA's failure
to exercise its rights under this paragraph will not constitute a waiver.

 

 

 

 

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	SBA Loan # 6781797900	Application #3303511283

 

		·	A default (or any violation of any of the terms and conditions) of any SBA Loan(s) to Borrower
and/or its affiliates will be considered a default of all such Loan(s).

 

DISBURSEMENT OF THE LOAN

 

		·	Disbursements will be made by and at the discretion of SBA Counsel, in accordance with this Loan
Authorization and Agreement and the general requirements of SBA.

 

		·	Disbursements may be made in increments as needed.

 

		·	Other conditions may be imposed by SBA pursuant to general requirements of SBA.

 

		·	Disbursement may be withheld if, in SBA's sole discretion, there has been an adverse change in
Borrower's financial condition or in any other material fact represented in the Loan application, or if Borrower fails to meet
any of the terms or conditions of this Loan Authorization and Agreement.

 

		·	NO DISBURSEMENT WILL BE MADE LATER THAN 6 MONTHS FROM THE DATE OF THIS LOAN AUTHORIZATION AND
AGREEMENT UNLESS SBA, IN ITS SOLE DISCRETION, EXTENDS THIS DISBURSEMENT PERIOD.

 

PARTIES AFFECTED

 

		·	This Loan Authorization and Agreement will be binding upon Borrower and Borrower's
successors and assigns and will inure to the benefit of SBA and its successors and assigns.

 

RESOLUTION OF BOARD OF DIRECTORS

 

		·	Borrower shall, within 180 days of receiving any disbursement of this Loan, submit the appropriate
SBA Certificate and/or Resolution to the U.S. Small Business Administration, Office of Disaster Assistance, 14925 Kingsport Rd,
Fort Worth, TX. 76155.

 

 

 

 

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	SBA Loan # 6781797900	Application #3303511283

 

ENFORCEABILITY

 

		·	This Loan Authorization and Agreement is legally binding, enforceable and approved upon Borrower’s
signature, the SBA’s approval and the Loan Proceeds being issued to Borrower by a government issued check or by electronic
debit of the Loan Proceeds to Borrower’ banking account provided by Borrower in application for this Loan.

 

/s/ James E. Rivera                                              

James
E. Rivera

Associate Administrator

U.S. Small Business Administration

 

The undersigned agree(s) to be bound by the terms
and conditions herein during the term of this Loan, and further agree(s) that no provision stated herein will be waived without
prior written consent of SBA. Under penalty of perjury of the United States of America, I hereby certify that I am authorized
to apply for and obtain a disaster loan on behalf of Borrower, in connection with the effects of the COVID-19 emergency.

 

 

	 	Black Ridge Oil & Gas, Inc	 	 
	 	 	 	 
	 	 	 	 
	 	/s/ Kenneth DeCubellis 	Date:   	06.16.2020
	 	Kenneth
DeCubellis, Owner/Officer	 	 

 

Note:
Corporate Borrowers must execute Loan Authorization and Agreement in corporate name, by a duly authorized officer.
Partnership Borrowers must execute in firm name, together with signature of a general partner. Limited Liability entities
must execute in the entity name by the signature of the authorized managing person.

 

 

 

 

 

 

 

 

    		 Page 8 of 8

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