Document:

EXHIBIT 10(v) 

 

PURCHASE AND SALE AGREEMENT

 

BY AND BETWEEN

 

BUILDING BLOCKS REALTY CO. LLC

 

(“Seller”)

 

and

 

ENZO REALTY LLC

 

(“Purchaser”)

 

Dated: as of August 21, 2018

    	 

    	

    

TABLE OF CONTENTS

 

	 	Page
	SECTION 1: SUBJECT OF SALE	1
	SECTION 2: DEFINITIONS	3
	SECTION 3: TRANSFER OF PROPERTY; CLOSING	5
	SECTION 4: ENVIRONMENTAL INSPECTION PERIOD; ACCESS	6
	SECTION 5: Title; MATTERS TO WHICH THE SALE IS SUBJECT	7
	SECTION 6: “AS IS SALE”	9
	SECTION 7: ADJUSTMENTS	10
	SECTION 8: CASUALTY	12
	SECTION 9: CONDEMNATION PENDING CLOSING	13
	SECTION 10: SELLER’S WARRANTIES AND REPRESENTATIONS	14
	SECTION 11: SELLER’S INSTRUMENTS AT CLOSING	17
	SECTION 12: PURCHASER’S REPRESENTATIONS AND WARRANTIES	19
	SECTION 13: PURCHASER’S INSTRUMENTS AT CLOSING	20
	SECTION 14: CONTRACT PERIOD	20
	SECTION 15: CONDITIONS PRECEDENT TO CLOSING	21
	SECTION 16: TRANSFER TAX AND TRANSACTION COSTS	23
	SECTION 17: NOTICES	23
	SECTION 18: DEFAULT	24
	SECTION 19: ASSIGNMENT	26
	SECTION 20: COUNTERPARTS	26
	SECTION 21: FURTHER ASSURANCES	26
	SECTION 22: MISCELLANEOUS	27
	SECTION 23: ESCROW AGENT	29

    	 

    	

    

	SECTION 24: CONFIDENTIALITY	30
	SECTION 25: TAX PROCEEDINGS	31
	SECTION 26: SALE BROKERAGE AGREEMENTS	31
	SECTION 27: THIRD PARTY BENEFICIARY	32
	SECTION 28: JURISDICTION AND SERVICE OF PROCESS	32
	SECTION 29: WAIVER OF TRIAL BY JURY	32
	SECTION 30: PREVAILING PARTY	32

 

	SCHEDULES	 	 
	 	 	 
	Schedule 1:	 	Description of the Land
	Schedule 2:	 	Escrow Agent’s Wire Instructions
	Schedule 3:	 	[Intentionally Omitted]
	Schedule 4:	 	Title Exceptions
	 	 	 
	EXHIBITS	 	 
	Exhibit A:	 	List of Leases
	Exhibit B:	 	Form of Deed
	Exhibit C:	 	Form of Assignment Agreement
	Exhibit D:	 	Form of Bill of Sale
	Exhibit E:	 	Form of FIRPTA Certificate
	Exhibit F:	 	[Intentionally Omitted]
	Exhibit G:	 	Form of Notice to Tenants
	Exhibit H:	 	List of Leasing Brokerage Agreements
	Exhibit I:	 	Form of Estoppel
	Exhibit J:	 	[Intentionally Omitted]
	Exhibit K:	 	List of Security Deposits
	Exhibit L:	 	List of Rent Arrearages and Tenant Inducement Costs

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PURCHASE AND SALE AGREEMENT

 

THIS PURCHASE AND SALE
AGREEMENT (this “Agreement”) is made as of the 21st day of August, 2018 by and between BUILDING BLOCKS REALTY
CO. LLC (“Seller”), having an address 118 Eagles Crest, Unit 118, Manhasset, New York, and ENZO REALTY LLC,
a New York limited liability company ( “Purchaser”), having an address at 527 Madison Avenue, New York, New
York.

 

RECITALS

 

WHEREAS, Purchaser
desires to purchase the Property (as hereinafter defined), and Seller desires to sell the same to Purchaser, upon and pursuant
to the terms of this Agreement.

 

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

 

SECTION 1: SUBJECT OF SALE

 

Section 1.01. Subject to
and in accordance with the terms and conditions of this Agreement, Seller shall sell, assign, and convey to Purchaser all of Seller’s
right, title and interest in, to, and under the following:

 

(a) (i) that certain
parcel of real property situate, lying, and being in the Town of Babylon, County of Suffolk, State of New York, and located at
21 Executive Boulevard, Farmingdale, New York, as more particularly described on Schedule 1 attached hereto (the “Land”),
and (ii) all of the improvements located on the Land (individually, a “Building” and, collectively, the “Improvements”);

 

(b) all rights,
privileges, grants and easements appurtenant to the Land and the Improvements, including, without limitation, all of Seller’s
right, title and interest in and to the land lying in the bed of any public street, road or alley, all mineral and water rights,
and all easements, licenses, covenants and rights-of-way or other appurtenances used in connection with the beneficial use and
enjoyment of the Land and the Improvements (the Land and the Improvements, and all such rights, privileges, easements, grants and
appurtenances are sometimes referred to herein collectively as the “Real Property”);

 

(c) the fixtures,
machinery, equipment, and other items of personal property owned by Seller and located upon, and used in connection with the ownership
or operation of, the Real Property (collectively, the “Personal Property”)(for the avoidance of doubt, Personal
Property does not include warehouse racking, temporary dividers, or other property owned by the Tenant);

 

(d) all leases,
licenses and other agreements (other than subleases or sublicenses) with respect to the use and occupancy of the Real Property,
if any, together

    	 

    	

    

with all amendments and modifications
thereto and any guaranties provided thereunder, in effect as of the Closing Date (individually, a “Lease” and,
collectively, the “Leases”), and the amounts deposited under any such Leases in the nature of security for the
performance of any Tenant’s (as hereinafter defined) obligations thereunder (individually, a “Security Deposit”
and, collectively, the “Security Deposits”);

 

(e) all governmental
permits, licenses, approvals and certificates, to the extent transferable, relating to the Real Property and the Personal Property
(collectively, the “Permits and Licenses”), and all of Seller’s right, title and interest in and to those
contracts set forth on Exhibit F, or any contracts executed after the date hereof in accordance with the terms hereof, with
respect to the servicing, maintenance, repair, management, leasing or operation of the Real Property, to the extent same remain
in effect on the Closing Date (individually, a “Service Contract” and, collectively, the “Service Contracts”)
and subject to the provisions of Section 14.01 hereof, any brokerage agreements relating to any Leases in effect as of the Closing
Date (collectively, the “Leasing Brokerage Agreements”);

 

(f) all guaranties
and warranties, to the extent transferable, owned by Seller and received in connection with any construction, repair or maintenance
services performed with respect to the Real Property or Personal Property (collectively, the “Warranties”);
and

 

(g) all other rights,
privileges and appurtenances owned by Seller, if any, to the extent transferable and directly related to the ownership, use or
operation of the Real Property or Personal Property, including, without limitation but subject to the terms and conditions of Section
25 of this Agreement, any real estate tax refunds relating to the Property (collectively, the “Intangible Rights”);
provided, however, that it is hereby acknowledged by the parties that Seller shall not convey to Purchaser claims relating to any
real property tax refunds or rebates for periods accruing prior to the Closing, existing insurance claims and any existing claims
against previous tenants of the Real Property and/or against guarantors of any prior leases for space at the Real Property, all
of which claims are hereby expressly reserved by Seller.

 

The Real Property and, to
the extent applicable, the Personal Property, the Leases, the Security Deposits, the Permits and Licenses, the Service Contracts,
the Leasing Brokerage Agreements, Warranties, the Intangible Rights and all other property interests described in this Section
1 being conveyed hereunder, are hereinafter collectively referred to as the “Property”.

 

Section 1.02. Notwithstanding
anything to the contrary contained herein, it is expressly agreed by the parties hereto that any fixtures, furniture, furnishings,
equipment or other personal property (including, without limitation, trade fixtures in, on, around or affixed to the Building)
owned or leased by any agent, employee or contractor of Seller or any affiliate of Seller or by any Tenant or any person or entity
claiming through or under any such Tenant (collectively, the “Excluded Property”) is not included in the Property
to be sold to Purchaser hereunder.

 

Section 1.03. The parties
hereto acknowledge and agree that the value of the Personal Property is de minimis and no part of the Purchase Price is
allocable thereto.

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SECTION 2: DEFINITIONS

 

Section 2.01. For all purposes
of this Agreement, except as otherwise expressly provided or unless the context clearly indicates a contrary intent:

 

(i)  the capitalized
terms defined in this Section have the meanings assigned to them in this Section, and include the plural as well as the singular;
and

 

(ii) the words
“herein”, “hereof”, and “hereunder” and other words of similar import refer to this Agreement
as a whole and not to any particular Section or other subdivision.

 

“Additional Rents”
shall mean all percentage rent, escalation charges for real estate taxes, operating expenses or cost-of-living adjustments, charges
for electricity, steam, water, cleaning, overtime services, sundry charges or other charges of a similar nature payable by any
Tenants pursuant to the Leases.

 

“Assignment Agreement”
shall mean the Assignment Agreement in the form of Exhibit C attached hereto and made a part hereof.

 

“Basket Amount”
shall have the meaning set forth in Section 15 hereof.

 

“Building” shall have the meaning set forth in Section
1.01(a)(ii) hereof.

 

“Business Day”
shall mean any day other than (i) a Saturday or Sunday, (ii) all days observed by the federal or State of New York government as
legal holidays, and (iii) all days on which commercial banks in the State of New York are required by law to be closed.

 

“Closing”
shall mean the closing of the transactions contemplated by this Agreement.

 

“Closing Date” shall mean the actual
date on which the Closing occurs.

 

“Closing Date Representations”
shall mean all of the representations and warranties set forth in Sections 10.01(a), (b), (c), (d), (j) and (l).

 

“Code”
shall have the meaning set forth in Section 10.01(d) hereof.

 

“Commissions”
shall mean the brokerage fees or commissions due with respect to the Leases.

 

“Confidential Information”
shall have the meaning set forth in Section 24.01.

 

“Contract Period”
shall mean the period commencing on the Effective Date of this Agreement and ending on the Closing Date or the earlier termination
of this Agreement.

 

“Downpayment”
shall mean the downpayment set forth in Section 3.01(a).

 

“Effective Date
of this Agreement” shall mean the date on which Seller (or its counsel) delivers to Purchaser (or its counsel) a fully-executed
counterpart of this Agreement, which date

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shall be inserted by hand on behalf of Seller
in the introductory paragraph on Page 1 of this Agreement.

 

“Escrow Agent”
shall mean AmTrust Title Insurance Company.

 

“Excluded Property”
shall have the meaning set forth in Section 1.02 hereof.

 

“Fixed Rents”
shall mean all base or fixed rents or base or fixed license fees, as applicable, payable by any Tenants pursuant to the Leases.

 

“Improvements”
shall have the meaning set forth in Section 1.01(a)(ii) hereof.

 

“Intangible Rights” shall have the meaning set
forth in Section 1.01(g) hereof.

 

“Land” shall have the meaning set forth in Section 1.01(a)(i) hereof.

 

“Leases”
shall have the meaning set forth in Section 1.01(d) hereof.

 

“Leasing Brokerage
Agreements” shall have the meaning set forth in Section 1.01(e) hereof.

 

“Loss”
or “Losses” shall mean the actual damage, loss, cost or expense (including reasonable costs of investigation
incurred in defending against and/or settling such damage, loss, cost or expense or claim therefor and any amounts paid in settlement
thereof), if any, imposed on, or incurred by, Purchaser because a representation made by Seller in Section 10.01 of this Agreement
is untrue or incorrect. In no event shall any “Loss” or “Losses” include any indirect, consequential
or punitive damages.

 

“Maximum Credit
Amount” shall have the meaning set forth in Section 15 hereof.

 

“Permits and Licenses” shall have the
meaning set forth in Section 1.01(e) hereof.

 

“Permitted Encumbrances” shall have the meaning set forth in Section
5.01 hereof.

 

“Person”
shall mean any individual, estate, partnership, limited liability company, corporation, trust, governmental entity or any other
legal entity and any unincorporated association.

 

“Personal Property”
shall have the meaning set forth in Section 1.01(c) hereof.

 

“Property” shall have the meaning set forth in Section
1.01 hereof.

 

“Purchase Price”
shall have the meaning set forth in Section 3.01 hereof.

 

“Qualified Intermediary”
shall have the meaning set forth in Section 19.02 hereof.

 

“Real Estate Taxes”
shall mean real estate taxes and any general or special assessments imposed upon the Real Property, including but not limited to
any general or special assessments

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of any governmental or municipal authority
or tax district, including, without limitation, any assessments levied for public benefits to the Real Property.

 

“Real Property”
shall have the meaning set forth in Section 1.01(b) hereof.

 

“Rents” shall mean all Fixed Rents and all Additional
Rents.

 

“Representatives”
shall have the meaning set forth in Section 24.01 hereof.

 

“Scheduled Closing
Date” shall have the meaning set forth in Section 3.02 hereof.

 

“Security Deposit” shall have the meaning
set forth in Section 1.01(d) hereof.

 

“Service Contracts”
shall have the meaning set forth in Section 1.01(e) hereof.

 

“Survival Period”
shall mean the period of time commencing on the Closing Date and terminating three (3) months subsequent to the Closing Date.

 

“Tenants”
shall mean all of the tenants, licensees and other occupants under or pursuant to the Leases.

 

“Title Insurer”
shall mean any reputable title company licensed to do business in the State of New York.

 

“Warranties”
shall have the meaning set forth in Section 1.01(f) hereof.

 

SECTION 3: TRANSFER OF PROPERTY; CLOSING

 

Section 3.01. Seller agrees
to sell to Purchaser, and Purchaser agrees to purchase from Seller, subject to and in accordance with the terms, provisions, covenants
and conditions set forth in this Agreement, all of Seller’s right, title and interest in and to the Property for a purchase
price of SIX MILLION AND 00/100 DOLLARS ($6,000,000.00) (the “Purchase Price”), subject to adjustments to be
made pursuant to the terms of this Agreement, including, without limitation, as provided in Section 7 hereof. The Purchase Price
to be paid by Purchaser shall be paid as follows:

 

(a) SIX HUNDRED
THOUSAND AND 00/100 DOLLARS ($600,000.00) to the Escrow Agent on the signing of this Agreement as the Downpayment, by wire transfer
in accordance with the wire instructions set forth on Schedule 2 attached hereto. Subject to the provisions of Section 4.01,
the Downpayment shall be held by the Escrow Agent in accordance with Section 23 hereof.

 

(b) Subject to
the adjustments to be made pursuant to this Agreement, the balance of the Purchase Price shall be paid to Seller (or its designees)
at Closing. All monies payable under this Agreement on the Closing Date shall be delivered to Seller or its designees by wire transfer
in accordance with the wire instructions to be designated by Seller.

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Section 3.02. The Closing
shall occur on or about October 2, 2018 (the “Scheduled Closing Date”) through an escrow with the Title Insurer.
The Seller and Purchaser agree to cooperate with one another to effect an escrow closing with the documents to be executed by each
party to be delivered to the Title Insurer.

 

SECTION 4: ENVIRONMENTAL INSPECTION PERIOD;
ACCESS

 

Section 4.01. Purchaser
shall have from the Effective Date of this Agreement until 5:00 P.M. (EST) on the sixtieth (60th) day after the Effective Date
(the “Inspection Period”) the right but not the obligation to perform, at its sole cost and expense, a Phase
I environmental inspection (the “Phase I”) of the Property from a reputable environmental testing company licensed
in the State of New York and shall deliver a copy of such Phase I to Seller upon Purchaser’s receipt thereof. In the event
that the results of a Phase I completed by Purchaser suggest that a Phase II environmental inspection (the “Phase II”)
is necessary, Purchaser may perform the Phase II, at its sole cost and expense, subject to the terms hereof including, without
limitation, Section 4.02 below, and Purchaser shall deliver a copy of such Phase II to Seller upon Purchaser’s receipt thereof.
In the event that (i) Purchaser’s Phase II reveals that the Property is in violation of any applicable environmental laws
(“Environmental Violations”), and (ii) prior to the expiration of the Inspection Period, Purchaser gives notice
to Seller that Purchaser has elected to terminate this Agreement due to such Environmental Violations, Seller, at Seller’s
sole option, shall have the right to hire a reputable environmental consultant licensed in the State of New York to review the
Environmental Violations and prepare an estimate of the costs to cure same. Upon receipt of such consultant’s estimate, Seller,
in Seller’s sole discretion may (x) consent to Purchaser’s termination of this Agreement, (y) nullify Purchaser’s
termination of this Agreement and give Purchaser a credit at closing in the amount set forth on the environmental consultant’s
report, or (z) nullify Purchaser’s termination of this Agreement by agreeing in writing to undertake the remediation of the
Environmental Violations. By way of clarification, and not limitation, Purchaser shall not have the right to terminate this Agreement
in any of the following events: (A) Purchaser does not timely perform a Phase I; (B) any such Phase I does not suggest that a Phase
II should be performed; (C) no Environmental Violations are revealed by a Phase I or, if applicable, a Phase II; and (D) Seller
nullifies a Purchaser termination in accordance with the terms hereof. Any termination by Purchaser hereunder must occur prior
to the expiration of the Inspection Period. In the event the Purchaser properly cancels this Agreement pursuant to this Section
4 and Seller does not negate such termination as provided herein, the Downpayment shall be promptly returned to Purchaser and neither
party shall have any further liability to the other.

 

Section 4.02. Notwithstanding
the foregoing, Purchaser must obtain Seller’s prior written approval of the scope and method of the Phase II prior to Purchaser’s
commencement of the Phase II. If Seller, in its sole and absolute discretion, does not approve the scope and method of the Phase
II, then Purchaser, as its sole and exclusive remedy, may terminate this Agreement by notice to Seller given within five (5) business
days after Seller gives notice of such disapproval of the Phase II to Purchaser, but in any event, prior to the end of the Inspection
Period. If Seller approves the scope and method of such Phase II, Seller and its representatives, agents, and/or contractors shall
have the right to be present during any such testing, investigation, or inspection.

 

Section 4.03. Purchaser
shall (i) conduct all tests and inspections in a good and workmanlike manner, and in compliance in all material respects with all
applicable laws,

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ordinances, rules and regulations of any governmental
authority; (ii) not make any alterations to the Property whatsoever, (iii) repair any damage to the Property resulting from such
tests and inspections, at Purchaser’s sole cost and expense, (iv) cause all debris resulting from its activities to be removed,
(v) exercise its rights hereunder so as to minimize interference with the normal operation of the Property, and (vi) pay all sums
due to the environmental testing companies engaged by Purchaser.

 

Section 4.04. Prior to Purchaser,
or its employees and agents, entering onto the Property, Purchaser shall deliver to Seller property damage and commercial general
liability insurance, in form and amounts reasonably acceptable to Seller and naming Seller and its managing agent as additional
insureds, and furnish to Seller policies or a certificate or certificates of insurance evidencing such coverage.

 

Section 4.05. Purchaser
shall restore the Property to its condition existing immediately prior to Purchaser’s inspection thereof to the extent of
any damage caused by Purchaser or its employees or agents, and Purchaser shall indemnify, defend and hold harmless Seller and its
direct and indirect shareholders, officers, directors, partners, principals, members, employees, agents and contractors, and any
successors or assigns of the foregoing, from and against any and all losses, costs, liabilities, damages and expenses, including,
but not limited to, penalties, fines, court costs, disbursements and reasonable attorney’s fees incurred in connection with
or arising from injuries to persons or damage to property caused by Purchaser’s and/or its Representatives’ access
to, or inspection of the Property, or any tests, inspections or other due diligence conducted by or on behalf of Purchaser. The
indemnity provisions of this Section 4.05 shall be binding upon Purchaser regardless of whether or not the transactions contemplated
hereby are consummated and shall survive the termination of this Agreement or the Closing, as applicable.

 

SECTION 5: TITLE; MATTERS TO WHICH THE SALE
IS SUBJECT

 

Section 5.01. Seller shall
assign and convey or cause to be assigned and conveyed to Purchaser good and valid insurable fee title to the Property free and
clear of any and all mortgages, liens, leases, encumbrances and easements, except the following (collectively, the “Permitted
Encumbrances”):

 

(a) Subject to
the provisions of Section 7, all Real Estate Taxes, water meter and water charges and sewer rents, accrued or unaccrued, fixed
or not fixed, becoming due and payable after the Closing Date;

 

(b) All zoning
laws and building ordinances, resolutions, regulations and orders of all boards, bureaus, commissions and bodies of any municipal,
county, state or federal government, and all notes or notices of violations thereof noted or issued with respect to the Property
prior to the Closing Date;

 

(c) All covenants,
restrictions and rights and all easements and agreements for the erection and/or maintenance of water, gas, steam, electric, telephone,
sewer or other utility pipelines, poles, wires, conduits or other like facilities, and appurtenances thereto, over, across and
under the Property;

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(d) The standard
conditions and exceptions to title contained in Purchaser’s title policy or any “marked-up” commitment issued
by the Title Insurer to Purchaser;

 

(e) State of facts
shown on the survey of the Property made by Schnepf & Murrell, P.C., dated December 1, 2007, and updated May 23, 2010,
and any additional state of facts which would be shown on an update to such survey;

 

(f) Variations between tax lot lines and lines
of record title;

 

(g) All violations
of building, fire, sanitary, environmental, housing and similar laws and regulations whether or not noted or issued at the date
hereof or the Closing Date;

 

(h) All Leases
now affecting the Real Property and any new Leases or tenancies not prohibited by the terms hereof; and

 

(i) All of the
restrictions, encumbrances, covenants, agreements, easements and other matters set forth on Schedule 4 annexed hereto.

 

Notwithstanding that the deed for the Property
does not so state, the Property shall be deemed conveyed to Purchaser subject to the exceptions set forth in items (a) through
(j). This provision shall survive the Closing.

 

Section 5.02. Upon execution
of this Agreement, Purchaser shall order an updated survey (“Survey”). Seller hereby acknowledges receipt of
title commitment number FN-14176-NY (the “Title Commitment”) with respect to the purchase of the Property from
the Title Insurer. No later than twenty (20) days from the Effective Date of this Agreement, Purchaser shall notify Seller of such
objections, except for any Permitted Encumbrances set forth in Section 5.01 above, as Purchaser may have to anything contained
in the Title Commitment or on the Survey (collectively, the “Title Objections”). If there are Title Objections
by Purchaser, Seller shall have the option, at its sole discretion, to satisfy them prior to the Scheduled Closing Date. If Seller
elects to attempt to satisfy the Title Objections, Seller shall so notify Purchaser within ten (10) days after receipt of such
Title Objections and shall use commercially reasonable efforts to attempt to cure such Title Objections prior to Closing, and the
Scheduled Closing Date may be extended, at Seller’s option for reasonable periods of time not to exceed ninety (90) days
in the aggregate, in order to attempt to cure such Title Objections. If Seller elects not to satisfy such Title Objections, then
Seller shall so notify Purchaser and Purchaser shall thereupon have a period of ten (10) days after receipt of Seller’s notice
that Seller elects not to cure such Title Objections to either (i) waive the Title Objections and accept such title as Seller is
able to convey, without abatement or reduction of the Purchase Price or any credit or allowance on account thereof (except as may
otherwise be expressly set forth herein), and by such waiver of the Title Objections, Purchaser shall be deemed to have waived
any and all claims and/or causes of action against Seller for damages or any other remedies for any and all defects in and/or exceptions
to title to the Property, or (ii) terminate this Agreement by giving notice to Seller on or before the end of such ten (10) day
period, in which event the Downpayment shall be returned to Purchaser and the parties hereto shall be released from further liability
hereunder except as expressly otherwise provided herein. In no event shall Seller have

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any obligation to commence litigation or to
expend money to cure or remove any Title Objections; provided, Seller shall be required to remove, by payment, bonding or otherwise:
(i) any instruments which have been voluntarily recorded or otherwise placed by Seller against the Property on or following the
date hereof (other than with the approval of Purchaser) and which are not given for the benefit of any utility or governmental
authority in the ordinary course, (ii) any mechanics’ liens relating to work done by or at the request of Seller at the Property
(but expressly excluding mechanics liens created or permitted by a Tenant under a Lease) (the liens described in clauses (i) and (ii) above, collectively, “Voluntary Liens”), (iii) any Title Objections which would not fall
within the definition of (i) above and which can be removed by the payment of a liquidated sum of money (“Monetary Liens”);
provided, however, that Seller shall not have the obligation to remove any of such Monetary Liens unless such Monetary Lien is
an ascertainable, fixed amount, and, in no event shall Seller be obligated to expend amounts in excess of $30,000 (the “Monetary
Lien Cap Amount”) pursuant to the provisions of this sentence, and (iv) all mortgages, assignments of leases and rents
and UCC-1 financing statements under which Seller is a borrower or otherwise constituting a lien on the Property (“Mortgages”).
Purchaser’s failure to exercise the right to terminate within the ten (10) day period shall constitute a waiver of Purchaser’s
right to terminate with respect to such title matters. Notwithstanding anything contained herein to the contrary, in the event
that the Title Insurer selected by Purchaser cannot insure good and valid fee title to the Property in accordance with an ALTA
form of Owner’s policy at standard premiums, Seller shall have the option, but not the obligation, upon notice to Purchaser,
to select a Title Insurer that will insure fee title to the Property at standard premiums in accordance with an ALTA form of Owner’s
policy, subject to the Permitted Encumbrances.(except with respect to Voluntary Liens, Monetary Liens and Mortgages, which shall
in no event constitute Permitted Encumbrances).

 

Section 5.03. Purchaser,
if request is made not less than two (2) Business Days prior to the Closing, agrees to provide at the Closing separate wire transfers
or certified or cashier’s checks as requested, aggregating not more than the balance (as adjusted, pursuant to the provisions
of Section 3 hereof) of the Purchase Price, to facilitate the satisfaction of any such mortgages, liens and encumbrances. If after
delivery of the Title Commitment to Seller, but prior to the Closing Date, a new Title Objection is disclosed by an updated endorsement
to the Title Commitment, the same rights and obligations of both parties as set forth above shall be applicable.

 

SECTION 6: “AS IS SALE”

 

Section 6.01. PURCHASER
ACKNOWLEDGES AND AGREES THAT EXCEPT AS OTHERWISE SET FORTH HEREIN, IT IS PURCHASING THE PROPERTY “AS IS, WHERE IS, WITH ALL
FAULTS” AND SUBJECT TO ALL DEFECTS (PATENT AND LATENT), BASED UPON THE CONDITION (PHYSICAL OR OTHERWISE) OF THE PROPERTY
AS OF THE EFFECTIVE DATE OF THIS AGREEMENT, REASONABLE WEAR AND TEAR AND, SUBJECT TO THE PROVISIONS OF SECTIONS 8 AND 9 OF THIS
AGREEMENT, LOSS BY CONDEMNATION OR FIRE OR OTHER CASUALTY EXCEPTED, AND THAT NEITHER SELLER, NOR ANY PERSON ACTING ON BEHALF OF
SELLER, NOR ANY PERSON WHICH PREPARED OR PROVIDED ANY OF THE MATERIALS REVIEWED BY PURCHASER IN CONDUCTING ITS DUE DILIGENCE, NOR
ANY DIRECT OR INDIRECT OFFICER, DIRECTOR, PARTNER, MEMBER, SHAREHOLDER, EMPLOYEE, AGENT, REPRESENTATIVE, ACCOUNTANT, ADVISOR, ATTORNEY,
PRINCIPAL, AFFILIATE, CONSULTANT, CONTRACTOR, SUCCESSOR OR ASSIGN OF ANY OF THE FOREGOING

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PARTIES HAS MADE OR SHALL BE DEEMED TO HAVE
MADE ANY ORAL OR WRITTEN REPRESENTATIONS OR WARRANTIES, WHETHER EXPRESSED OR IMPLIED, BY OPERATION OF LAW OR OTHERWISE, AS TO THE
PRESENT, PAST OR FUTURE PHYSICAL CONDITION, ENVIRONMENTAL CONDITION, INCOME, EXPENSES, OPERATIONS, QUALITY OF CONSTRUCTION, THE
PERMITTED USE OF THE PROPERTY OR THE ZONING AND OTHER LAWS, REGULATIONS AND RULES APPLICABLE THERETO OR THE COMPLIANCE BY THE PROPERTY
THEREWITH, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR ANY OTHER MATTER AFFECTING OR RELATED TO THE PROPERTY OR THE TRANSACTIONS
CONTEMPLATED HEREIN, EXCEPT FOR THE SELLER’S REPRESENTATIONS SPECIFICALLY SET FORTH IN THIS AGREEMENT. No representation,
warranty or covenant made by Seller in this Agreement or any document delivered pursuant hereto shall survive the Closing, except
as otherwise expressly provided in this Agreement. Purchaser has not relied upon, and Seller is not liable or bound in any manner
by, any verbal or written statements, representations, real estate brokers’ “set-ups” or information pertaining
to the Property furnished by any real estate broker, agent, employee, servant to other persons unless the same are expressly set
forth in this Agreement. The delivery of the deed by Seller, and the acceptance of the deed by Purchaser, shall be deemed to be
the full performance and discharge of every obligation of Seller to be performed pursuant to this Agreement on or prior to the
Closing Date and the truth of every representation or warranty made by Seller in this Agreement or in any Exhibit attached hereto
or in any document, certificate, affidavit or other instrument delivered by Seller or its agents at or in connection with the Closing,
except for those warranties, representations and obligations of Seller which this Agreement expressly provides are to survive the
Closing. Purchaser acknowledges it is acquiring the Property and is relying solely upon its own knowledge of the Property based
on its investigation of the Property and its own inspection of the Property. Without limitation, Purchaser releases Seller from
and against any and all claims, losses, costs, liabilities, damages and expenses, including, but not limited to, penalties, fines,
court costs, disbursements and reasonable attorney’s fees arising from or related to any physical or environmental conditions
at or in respect to the Property. The provisions of this Section 6, including, without limitation, such release, shall survive
the termination of this Agreement or the Closing, as applicable.

 

SECTION 7: ADJUSTMENTS

 

Section 7.01. The following
items shall be apportioned between the parties on and as of the Closing Date, based upon the respective party’s period of
ownership of the Property:

 

(a) subject to the provisions
of Section 7.02, prepaid Rents and all Fixed Rents and Additional Rents payable pursuant to the Leases, if any;

 

(b) Real Estate
Taxes, water charges, and sewer rents, vault charges, if any, business improvement district taxes and assessments and any other
governmental taxes, charges or assessments levied or assessed against the Property, on the basis of the respective periods for
which each is assessed or imposed, except that if there is a water meter at the Property, apportionment at the Closing shall be
based on the last available reading, subject to adjustment after the Closing when the next reading is available. If the Closing
shall occur before a new tax rate is fixed, the apportionment of taxes at the

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Closing shall be made upon the basis
of the old tax rate for the preceding period applied to the latest assessed valuation of the Property;

 

(c) value of fuel
stored on the Property, if any, at the price then charged by Seller’s supplier, including any taxes, provided that Seller
delivers a statement from Seller’s fuel supplier as to such value no later than five (5) days prior to the Closing Date);

 

(d) charges, if
any, paid or payable under Service Contracts on the basis of the period covered by such payments;

 

(e) administrative
charges, if any, permitted under the Leases or applicable law, on Security Deposits held pursuant to the Leases, if any;

 

(f) prepaid fees
for licenses and other permits assigned to Purchaser at the Closing; and

 

(g) any other item
which is customarily apportioned in accordance with real estate closings of commercial properties in the municipality in which
the Property is located;

 

Section 7.02. All Rents,
if any, shall be adjusted and prorated on an if, as and when collected basis. If any Tenant is in arrears in the payment of Rents
on the Closing Date, any Rents received from such Tenant after the Closing Date shall be applied in the following order of priority:
(a) first, in payment of Rents for the month in which the Closing occurred; (b) second, in payment of Rents for any month or months
following the month in which the Closing occurred; and, (c) after all Rents for all periods after the Closing Date have been paid
in full, in payment of Rents for any periods prior to the Closing Date and not paid pursuant to subsection (a) above. All Rents
received by Seller or Purchaser after the Closing Date, less reasonable collection costs, shall be adjusted and prorated as provided
above, and the party receiving such Rents shall, within five (5) Business Days, pay to the other party the portion thereof that
such other party is entitled to receive. Purchaser shall bill Tenants who owe Rents for periods prior to the Closing in the ordinary
course of Purchaser’s business following the Closing Date for a period of one year and shall use commercially reasonable
efforts to collect such past due Rents during such one year period. Notwithstanding the foregoing, if Purchaser shall be unable
to collect such past due Rents, Seller shall have the right to pursue Tenants to collect such delinquencies (including, without
limitation, the prosecution of one or more lawsuits), but Seller shall not be entitled to evict (by summary proceedings or otherwise)
any such Tenants. No prorations shall be made at the Closing in respect of any unpaid Rents.

 

Section 7.03. Without limiting
the provisions of Section 7.02 hereof, to the extent any portion of the Additional Rents, if any, is required to be paid monthly
by Tenants on account of estimated amounts for the current period and, at the end of each calendar year (or, if applicable, at
the end of each lease year or tax year or any other applicable accounting period), such estimated amounts are to be recalculated
based upon the actual expenses, taxes and other relevant factors for that calendar, lease or tax year, with the appropriate adjustments
being made with such Tenants, then such portion of the Additional Rents shall be prorated between Seller and Purchaser on the

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Closing Date based on such estimated payments
(i.e., with (i) Seller entitled to retain all monthly installments of such amounts with respect to periods prior to the
calendar month in which the Closing Date occurs, to the extent such amounts are as of the Closing Date estimated to equal the amounts
ultimately due to Seller for such periods, (ii) Purchaser entitled to receive all monthly installments of such amounts with respect
to periods following the calendar month in which the Closing Date occurs, and (iii) Seller and Purchaser apportioning all monthly
installments of such amounts with respect to the calendar month in which the Closing Date occurs). At the time(s) of final calculation
and collection from (or refund to) Tenants of the amounts in reconciliation of actual Additional Rents for a period for which estimated
amounts have been prorated, there shall be a re-proration between Seller and Purchaser, with the net credit resulting from such
re-proration, after accounting for amounts required to be refunded to Tenants, being payable to the appropriate party (i.e.,
to Seller if the recalculated amounts exceed the estimated amounts and to Purchaser if the recalculated amounts are less than the
estimated amounts).

 

Section 7.04. Charges for
all electricity, steam, gas and other utility services (collectively, “Utilities”) shall be billed to Seller’s
account up to the Closing Date and, from and after the Closing Date, all Utilities shall be billed to Purchaser’s account.
If for any reason such changeover in billing is not practicable as of the Closing Date, as to any Utility, such Utility shall be
apportioned on the basis of actual current readings or, if such readings have not been made, on the basis of the most recent bills
that are available. If any apportionment is not based on an actual current reading, then upon the taking of a subsequent actual
reading, the parties shall, within ten (10) days following notice of the determination of such actual reading, readjust such apportionment
and Seller shall promptly deliver to Purchaser, or Purchaser shall promptly deliver to Seller, as the case may be, the amount determined
to be due upon such adjustment.

 

Section 7.05. Purchaser
shall have no right to receive any rental insurance proceeds which relate to the period prior to the Closing Date and, if any such
proceeds are delivered to Purchaser, Purchaser shall, within five (5) Business Days following receipt thereof, pay the same to
Seller.

 

Section 7.06. If, after
the Closing, an error or omission in the calculation of the apportionments set forth above is found by one of the parties, such
error or omission shall be promptly corrected and the party receiving the over-payment shall pay the amount of the over-payment
to the party entitled thereto. Notwithstanding the provisions of Section 7.07, the foregoing obligation to correct apportionments
shall survive the Closing and continue for a period of (a) twelve (12) months after the Closing Date.

 

Section 7.07. The provisions
of this Section 7 shall survive the Closing.

 

SECTION 8: CASUALTY

 

Section 8.01. If, on or
prior to the date of the Closing, all or a “material part” (as defined below) of the Improvements shall be damaged
or destroyed by fire or other casualty, then, in any such event, Purchaser may, at its option, either (i) terminate this Agreement,
whereupon, in accordance with Section 23, the Downpayment shall be returned to Purchaser and the parties hereto shall be released
of all obligations and liabilities of whatsoever nature in connection with this Agreement except those that expressly survive termination
of this Agreement, or (ii) proceed to

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close the transactions contemplated by this
Agreement, in which event all of the provisions of subsection 8.01(a)(i) and subsection 8.01(a)(ii) below shall apply.

 

(a) If, on or prior
to the date of the Closing, less than a “material part” of the Improvements shall be destroyed or damaged by
fire or other casualty, then Purchaser shall nevertheless close title to the Property pursuant to all the terms and conditions
of this Agreement (without any adjustment to the Purchase Price except as otherwise set forth herein), subject to the following:
(i) Seller shall not (x) adjust and settle any insurance claims, or (y) enter into any construction or other contract for the repair
or restoration of the Improvements, without Purchaser’s prior written consent (except no such consent shall be necessary
in the event of an emergency or hazardous condition at the Property), which consent shall not be unreasonably withheld, conditioned
or delayed, and (ii) at the Closing, Seller shall (1) pay over to Purchaser the amount of any insurance proceeds, to the extent
collected by Seller in connection with such casualty, less the amount of the actual and reasonable unreimbursed expenses incurred
by Seller to third parties in connection with collecting such proceeds and making any repairs to the Improvements occasioned by
such casualty pursuant to any contract (provided that such contract was approved by Purchaser as required by this Section), and
(2) assign to Purchaser in form reasonably satisfactory to Purchaser all of Seller’s right, title and interest in and to
any insurance proceeds that are uncollected at the time of the Closing and that may be paid in respect of such casualty. Seller
shall reasonably cooperate with Purchaser in the collection of such proceeds, which obligation shall survive the Closing.

 

(b) For the purpose
of this Section, the phrase a “material part” of an Improvement shall mean a portion of an Improvement such
that the cost of repair or restoration thereof is estimated by a reputable contractor selected by Seller and reasonably satisfactory
to Purchaser, to be in excess of fifteen percent (15%) of the Purchase Price.

 

Section 8.02. The provisions
of this Section 8 supersede any law applicable to the Property governing the effect of fire or other casualty in contracts for
real property.

 

SECTION 9: CONDEMNATION PENDING CLOSING

 

Section 9.01. If, prior
to the Closing Date, condemnation or eminent domain proceedings shall be commenced by any public authority against the Real Property
or any part thereof, Seller shall promptly give Purchaser written notice thereof. After notice of the commencement of any such
proceedings (from Seller or otherwise) and in the event that the taking of such property is a material taking (as hereinafter defined),
Purchaser shall have the right (i) to accept title to the Property subject to the proceedings, whereupon any award payable to Seller
shall be paid to Purchaser and Seller shall deliver to Purchaser at the Closing all assignments and other documents reasonably
requested by Purchaser to vest such award in Purchaser, or (ii) to terminate this Agreement and upon the return of the Downpayment,
this Agreement shall be null and void and neither party will have any further obligations hereunder except those that expressly
survive termination of this Agreement. A taking shall be deemed to be a “material taking” if the claim for a
condemnation award for such taking is estimated by an independent appraiser selected by

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Seller and reasonably satisfactory to Purchaser
to be equal to or in excess of fifteen percent (15%) of the Purchase Price.

 

Section 9.02. In the event
of a non-material taking of any part of the Real Property, Purchaser shall accept the Property subject to the proceedings and pay
to Seller the full Purchase Price, whereupon any award payable to Seller shall be paid to Purchaser and Seller shall deliver to
Purchaser at the Closing all assignments and other documents reasonably requested by Purchaser to vest such award in Purchaser.

 

Section 9.03. The provisions
of this Section 9 supersede any law applicable to the Property governing the effect of condemnation in contracts for real property.

 

SECTION 10: SELLER’S WARRANTIES AND
REPRESENTATIONS

 

Section 10.01. To induce
Purchaser to enter into this Agreement and to accept the Property from Seller, Seller makes the following representations and warranties,
all of which are true, complete and correct in all material respects as of the Effective Date of this Agreement and, subject to
Permitted Changes, shall be true, complete and correct in all material respects as of the Closing Date:

 

(a) The execution,
delivery and performance of this Agreement and consummation of the transaction hereby contemplated in accordance with the terms
of this Agreement will not violate any material contract, agreement, commitment, order, judgment or decree to which Seller is a
party or by which Seller or the Property is bound and Seller has, or upon the Closing Date shall have, obtained all consents necessary
(whether from a governmental authority or other third party), in order for it to consummate the transactions contemplated hereby.

 

(b) Seller has
the full right, power and authority to bind Seller to this Agreement and to carry out Seller’s obligations hereunder and
Seller shall have the full right, power and authority to sell and convey the Property to Purchaser as provided herein and to take
all actions required by this Agreement.

 

(c) Upon the full
execution and delivery of this Agreement by Seller to Purchaser, this Agreement shall be the valid and binding obligation on Seller,
enforceable against Seller in accordance with the terms hereof.

 

(d) Seller is not
a “foreign person” as defined in Section 1445 of the Internal Revenue Code of 1986, as amended (the “Code”),
and the income tax regulations thereunder.

 

(e) Attached hereto
as Exhibit A is a true and complete list of the Leases (including all amendments and modifications) entered into by Seller,
or of which Seller is otherwise aware, in effect as of the Effective Date of this Agreement, and Seller has delivered to Purchaser
true and complete copies of the Leases set forth on Schedule A. No renewal or extension options have been granted to Tenants
under Leases except as otherwise expressly contained in the Leases. Seller has not collected rent from any Tenant more than thirty
(30) days in advance of such rent being due. Seller is the

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“landlord” or “lessor”
under the Leases and as such, has the right to assign the Leases to Purchaser. Seller has not received any written notice from
any Tenant, if any, claiming that Seller is in default in any material respects under any of the Leases, if any. Notwithstanding
the foregoing, Seller does not warrant that any particular Lease will be in force at the Closing or that the Tenants will have
performed their obligations thereunder. To Seller’s knowledge, no Tenant is in default of any of its obligations under its
Lease beyond any applicable notice, grace and cure periods, which default remains uncured, and Seller has not commenced any action
or proceeding against any Tenant claiming that such Tenant is in default of any of its obligations under its Lease, which default
remains uncured. Seller has paid, or shall have paid at Closing, any outstanding Commissions incurred in connection with any of
the Leases. Seller has no obligation to perform any work (or pay for the performance of any work) or to pay any Tenant improvement
allowance to or for the benefit of any Tenant.

 

(f) The Seller
is not a party to any Service Contracts as of the Effective Date of this Agreement.

 

(g) Attached hereto
as Exhibit K is a list of the Security Deposits currently held by Seller under the Leases in effect as of the date hereof,
if any. Notwithstanding the foregoing, Seller does not warrant that any Security Deposit will not be applied, in whole or in part,
by Seller prior to the Closing in accordance with Section 14.05.

 

(h) Attached hereto
as Exhibit H is a list of all written Leasing Brokerage Agreements entered into or assumed by Seller in effect as of the
Effective Date of this Agreement.

 

(i) Attached hereto
as Exhibit L is a list of all Rent that, to Seller’s knowledge, is due and payable by any Tenant (“Rent Arrearages”)
as of the Effective Date of this Agreement, if any, and (B) all unpaid tenant inducement costs whether due and payable now or for
which Seller is currently obligated to incur in the future, if any.

 

(j) Seller is a
limited liability company, duly organized, validly existing and in good standing under the laws of the State of New York.

 

(k) No action,
suit or proceeding is pending or, to Seller’s knowledge, threatened against Seller which would materially adversely affect
Seller’s financial condition or its ability to fully perform its obligations pursuant to this Agreement, specifically excluding
any personal injury claim covered by insurance or by indemnity from a prior or existing tenant of the Real Property.

 

(l) The execution
and delivery of this Agreement and the performance by Seller of its obligations hereunder do not and will not conflict with or
violate any law, rule, judgment, regulation, order, writ, injunction or decree of any court or governmental or quasi-governmental
entity with jurisdiction over Seller, including, without limitation, the United States of America, the State of New York or any
political subdivision of any

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of the foregoing, or any decision
or ruling of any arbitrator to which Seller is a party or by which Seller is bound or affected.

 

(m) There are no
judgments, orders or decrees of any kind against Seller unpaid and unsatisfied of record, nor, to Seller’s knowledge, there
are no actions, suits or other legal or administrative proceedings pending or, to Seller’s knowledge, threatened against
Seller that could have a material adverse effect on the Property to the consummation of the transactions contemplated hereby.

 

(n) No improvements,
construction work, services or materials have been supplied to Seller with respect to the Property for which payment shall not
be made in full on or before Closing.

 

(o) At Closing,
all Personal Property shall be, owned by Seller free and clear of any conditional bills of sale, chattel mortgages, security agreements
or financing statements or other security interests of any kind. Personal Property does not include metal racking installed by
the Tenant.

 

(p) Seller has
no employees working at the Property and is not a party to any union agreements with respect to the Real Property.

 

(q) To Seller’s
knowledge, Seller has not received any written notice related to an eminent domain proceeding affecting the Real Property.

 

Section 10.02. All representations
and warranties of Seller in this Agreement shall be true and correct in all material respects as of the date of this Agreement
and as of the Closing Date; provided, however, that Seller shall have the right to update the representations and warranties set
forth in Sections 10.01(e), (f), (g), (h) and (i) of this Agreement to the extent a state of facts underlying such representations
and warranties may have changed subsequent to the date of this Agreement (any such change, a “Permitted Change”) and,
notwithstanding any such update, Seller shall be deemed to have satisfied the condition set forth in this Section 10.4, provided
such Permitted Change was not caused by reason of (i) a breach by Seller of its obligations under this Agreement, or (ii) Seller’s
intentional act or failure to act.

 

Section 10.03. All of the
representations and warranties of Seller contained in this Agreement shall survive the Closing for the Survival Period, subject,
however, to the limitations on Seller’s liability set forth in Section 10.04.

 

Section 10.04. If (a) any
of the representations and warranties set forth in Section 10.01 above prove to have been false as of the date hereof or, with
respect to the Closing Date Representations, as of the Closing Date (except to the extent such representations and warranties speak
as of an earlier date, they shall be true in all material respects as of such earlier date), and (b) Purchaser gives written notice
thereof to Seller (a “Purchaser’s Loss Notice”) promptly but in no event later than (i) with respect to
a falsity first becoming discoverable on or prior to the Closing Date, the earlier to occur of the Closing Date and the date that
is two (2) Business Days after the aggregate amount of the Losses suffered by Purchaser prior to the Closing Date as a result of
such misrepresentation or untrue or inaccurate warranty exceeds the Basket Amount, or (ii) with respect to a falsity first becoming
discoverable after the Closing Date, the earlier to occur of the

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last day of the Survival Period and the date
that is two (2) Business Days after the aggregate amount of the Losses suffered by Purchaser during the Survival Period as a result
of such misrepresentation or untrue or inaccurate warranty exceeds the Basket Amount, then Purchaser’s remedies with respect
to any such Loss or Losses shall be as set forth in Section 15.01(i) hereof. If Purchaser fails to timely deliver a Purchaser’s
Loss Notice, then Purchaser shall be deemed to have waived any remedy set forth in Section 15.01 or any other remedy provided hereunder
or otherwise available with respect to any Loss. It is specifically acknowledged that (1) if any information is (or has been) disclosed
to Purchaser (or its attorneys, accountants, consultants or other professionals) on or prior to the Effective Date of this Agreement
by Seller (or its attorneys, accountants, consultants or other professionals) (or is the subject of correspondence between Seller
and Purchaser) which indicates that a representation or warranty made by Seller in this Agreement is untrue or inaccurate, Seller
shall have no liability with respect to such misrepresentation or untrue or inaccurate warranty and Purchaser shall not be entitled
to any credit at Closing in connection therewith, and (2) if the Closing occurs, Seller shall have no liability in connection with
any representations or warranties which were otherwise known by Purchaser, at Closing, to be untrue or inaccurate.

 

Section 10.05. Purchaser,
for itself and its agents, affiliates, successors and assigns, hereby releases and forever discharges Seller, its employees, agents,
affiliates, successors and assigns from any and all rights, claims and demands at law or in equity, whether known or unknown at
the time of this Agreement, which Purchaser has or may have in the future, arising out of the physical, environmental, economic
or legal condition of the Property, including, without limitation, any claim for indemnification or contribution arising under
the Comprehensive Environmental Response, Compensation, and Liability Act (42 U.S.C. Section 9601 et seq.) or any similar federal,
state or local statute, rule or ordinance relating to liability of property owners for environmental matters.

 

Section 10.06. The phrase
“to Seller’s knowledge” is hereby defined as the actual (as opposed to constructive or imputed) knowledge without
independent inquiry or investigation of Susan Weinreb, who shall have no personal liability in regards thereto or otherwise in
respect of this Agreement.

 

SECTION 11: SELLER’S INSTRUMENTS AT
CLOSING

 

Section 11.01. Seller shall
duly execute, acknowledge and/or deliver or, where applicable, cause the following to be duly executed, acknowledged and/or delivered,
to Purchaser on the Closing Date the following:

 

(a) a deed substantially
in the form of Exhibit B attached hereto;

 

(b) a title affidavit
with respect to the Property as may be reasonably required by the Title Insurer; provided, however, that the matters and liability
covered by such title affidavit shall not exceed the matters and liability of Seller with respect to its representations and warranties
made under Section 10.01 hereof;

 

(c) real estate
transfer tax forms and returns for the Property;

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(d) an affidavit
as required pursuant to Section 1445 of the Code substantially in the form of Exhibit E hereto;

 

(e) any plans with
respect to the Improvements on the Property to the extent in Seller’s possession;

 

(f) such other
documents, instruments, resolutions and other material with respect to the Property reasonably requested by Purchaser as may be
necessary to effect the transfer of title hereunder, to record the deed or as may be reasonably requested by the Title Insurer;

 

(g) the Assignment
Agreement substantially in the form of Exhibit C attached hereto and made a part hereof, together with original executed
counterparts, to the extent originals are in Seller’s possession, or, if originals are not in Seller’s possession,
copies (to the extent that copies are in Seller’s possession) of all Leases (if any), Service Contracts (to the extent not
terminated by Seller, whether in whole or only as to the Real Property, at or prior to Closing), Permits and Licenses and Warranties,
if any;

 

(h) a bill of sale
substantially in the form of Exhibit D attached hereto and made a part hereof;

 

(i) Tenant-executed
estoppel certificates (each an “Estoppel Certificate”) dated within thirty (30) days of the Closing Date either
substantially in the form of Exhibit I attached hereto and made a part hereof (with blanks therein completed with information
relevant to the subject Lease) or, if more restrictive, containing such information as is required pursuant to the terms of the
subject Lease, in either case, from all of the Tenants; provided, however, that no Estoppel Certificate shall disclose any fact
materially adverse to the applicable Tenant, such Tenant’s Lease, the Property or Purchaser or materially inconsistent with
the representations and warranties of Seller provided herein; it being acknowledged and agreed that the obligation of Purchaser
to close the transactions contemplated by this Agreement shall not be contingent upon any particular existing Lease remaining in
force and effect or remaining without default as of the Closing Date;

 

(j) subject to
Section 14.05, all cash Security Deposits, if any, actually held by Seller at Closing, by payment of the amount thereof to Purchaser
or by a credit to Purchaser against the Purchase Price. A list of the Security Deposits held by Seller on the date hereof, if any,
is attached as Exhibit K to this Agreement;

 

(k) a closing statement
setting forth all apportionments to be made at Closing pursuant to Section 7 hereof, together with disbursement instructions for
payment of the balance of the Purchase Price;

 

(l) notice to the
Tenants, if any, advising them of the sale of the Property to Purchaser, substantially in the form of Exhibit G attached
hereto and made a part hereof;

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(m) such other
documents, instruments, resolutions and other material as may be necessary to effect the transfer of title hereunder and reasonably
requested by Purchaser or the Title Insurer;

 

(n) a certification
stating that the representations and warranties of Seller set forth in Section 10.01 of this Agreement remain true and correct
in all material respects as of the Closing Date, or setting forth with reasonable specificity the manner in which any such representations
are no longer true and correct in all material respects as of the Closing Date; and

 

(o) keys to the
Property, to the extent in Seller’s possession.

 

SECTION 12: PURCHASER’S REPRESENTATIONS
AND WARRANTIES

 

Section 12.01. To induce
the Sellers to enter into this Agreement, Purchaser makes the following representations and warranties, all of which Purchaser
represents are true, complete and correct in all material respects as of the Effective Date of this Agreement and shall be true,
complete and correct in all material respects as of the Closing Date and shall be deemed to be made as of that date.

 

(a) The execution,
delivery and performance of this Agreement and consummation of the transaction hereby contemplated in accordance with the terms
of this Agreement will not violate any material contract, agreement, commitment, order, judgment or decree to which Purchaser is
a party or by which it is bound, and Purchaser has obtained (or will, by the Closing, have obtained) all consents necessary (whether
from a governmental authority or other third party) in order for it to consummate the transactions contemplated hereby.

 

(b) The party or
parties executing this Agreement on behalf of Purchaser have been duly authorized and are empowered to bind Purchaser to this Agreement
and to take all actions required by this Agreement.

 

(c) Upon the full
execution and delivery of this Agreement by Purchaser to the Sellers, this Agreement shall be the binding obligation of Purchaser,
enforceable against Purchaser in accordance with the terms hereof.

 

(d) No action,
suit or proceeding is pending or, to Purchaser’s knowledge, threatened against Purchaser which would materially adversely
affect Purchaser’s financial condition or its ability to fully perform its obligations pursuant to this Agreement.

 

(e) The execution
and delivery of this Agreement and the performance by Purchaser of its obligations hereunder do not and will not conflict with
or violate any law, rule, judgment, regulation, order, writ, injunction or decree of any court or governmental or quasi-governmental
entity with jurisdiction over Purchaser, including, without limitation, the United States of America, the State in which the Property
is located or any political subdivision of any of the foregoing, or any decision or ruling of

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any arbitrator
to which Purchaser is a party or by which Purchaser is bound or affected and no consent of any governmental agency is required.

 

(f) Purchaser is
a limited liability company duly organized, validly existing and in good standing under the laws of the State of New York and is
duly authorized to conduct business under the laws of the State of New York.

 

SECTION 13: PURCHASER’S INSTRUMENTS
AT CLOSING

 

Section 13.01. On the Closing
Date, Purchaser shall deliver the Purchase Price, as adjusted, to, or as directed by, Seller. Additionally, on the Closing Date,
Purchaser shall duly execute, acknowledge and deliver to Seller the following:

 

(a) real estate
transfer tax forms and returns, if any, for the Property;

 

(b) the Assignment
Agreement in the form of Exhibit C attached hereto;

 

(c) a closing statement
setting forth all apportionments to be made at Closing, together with disbursement instructions for payment of the balance of the
Purchase Price; and

 

(d) such other
documents, instruments, resolutions and other material as may be necessary to effect the transfer of title hereunder and reasonably
requested by Seller or the Title Insurer.

 

SECTION 14: CONTRACT PERIOD

 

Section 14.01. Intentionally
Omitted.

 

Section 14.02. During the
Contract Period, Seller shall continue to operate the Property in the same manner as it is currently being operated by Seller,
though Seller shall not be obligated to incur any capital improvements. Seller shall maintain replacement cost casualty insurance
throughout the Contract Period. During the Contract Period, Seller shall not, without the written consent of Purchaser (which is
in Purchaser’s sole discretion), enter into any new Lease for space at the Property or Leasing Brokerage Agreement, or amend
or modify any of the Leases. Notwithstanding the foregoing, Purchaser does hereby consent to Seller extending the term of the Lease
with Wrap-N-Pack, Inc. through December 31, 2018 and thereafter, extending the term thereof on a month to month basis terminable
on two months’ notice.

 

Section 14.03. During the
Contract Period, Seller shall not, without the written consent of Purchaser, enter into any new Service Contracts or other agreements
relating to the ownership and operation of the Property; provided, however, that Seller shall terminate all of the Service Contracts,
which termination shall be effective no later than thirty (30) days following the Closing Date.

 

Section 14.04. During the
Contract Period, Seller shall not allow any interest in the Property to be voluntarily liened, encumbered or transferred in such
a manner that Seller may not

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deliver the Property as set forth in Section
5 hereof, nor may Seller apply for or consent in writing to any zoning change, variance, subdivision, lot line adjustment or similar
modification with respect to the Real Property.

 

Section 14.05. Prior to
the Closing, Seller shall have the right to (a) apply any Security Deposits held under Leases, if any, in respect of defaults by
Tenants under the applicable Leases, if any, to the extent permitted by such Leases, and (b) return the Security Deposit, if any,
of any Tenant thereunder who in the good faith judgment of Seller is entitled to the return of such Security Deposit pursuant to
the terms of its Lease or otherwise by law.

 

Section 14.06. Prior to
Closing, Seller shall keep and perform in all material respects all of the obligations to be performed by it under the Leases.

 

Section 14.07. Prior to
Closing, Seller shall not remove from the Property any Personal Property unless such item shall be replaced with a similar item
of comparable utility and value.

 

Section 14.08. During the
Contract Period, Seller shall notify Purchaser in writing of Seller’s acknowledgement of or receipt of notice of any litigation,
arbitration or administrative hearing before any court, arbitrator or government agency not covered by Seller’s insurance,
concerning or affecting the Property which is instituted after the date hereof and shall promptly notify and forward a copy of
any notice or other communication from third parties or Tenants regarding same to Purchaser.

 

Section 14.09. Prior to
Closing, Seller shall not hire any employees with respect to the Property, hire a property manager, or consent to any property
manager or other person to hire any employees with respect to the Property.

 

Section 14.10. During the
Contract Period, except if consented to in writing by Seller Purchaser shall not communicate with any governmental or quasi-governmental
agencies or authorities regarding the Property or any aspect thereof except in connection with obtaining municipal searches, title
searches, zoning reports or other customary reports obtained by purchasers in transactions of this nature.

 

Section 14.11. Whenever
in this Section 14 Seller is required to obtain Purchaser’s approval with respect to any transaction described therein, Purchaser
shall, within five (5) business days after receipt of Seller’s request therefor, notify Seller of its approval or disapproval
of same and, if Purchaser fails to notify Seller of its disapproval within said five (5) business day period, Purchaser shall be
deemed to have approved same. In the event any new Lease, Leasing Brokerage Agreement or Service Contract is entered into by Seller
with Purchaser’s actual or deemed consent, then the applicable representations and warranties of Seller under this Agreement
will be deemed to have been revised so as to incorporate the subject Lease (and Security Deposit thereunder, if any), Leasing Brokerage
Agreement and/or Service Contract.

 

SECTION 15: CONDITIONS PRECEDENT TO CLOSING

 

Section 15.01. (a) Purchaser’s
obligations to close title under this Agreement on the Closing Date shall be subject to the satisfaction of the following conditions
precedent on or prior to the Closing Date:

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(i) all of Seller’s
representations and warranties made in this Agreement shall be true and correct in all material respects as of the Effective Date
of this Agreement and, with respect to the Closing Date Representations, as of the Closing Date (except if and to the extent such
representations and warranties speak as of an earlier date, then they shall be true in all material respects as of such earlier
date); provided, however, that Purchaser shall be obligated to consummate the Closing without any adjustment in the Purchase Price
if the aggregate amount of Losses resulting from any misrepresentation or untrue or inaccurate warranty made by Seller in this
Agreement is equal to or less than Thirty Thousand and 00/100 Dollars ($30,000.00) (the “Basket Amount”). If
the aggregate amount Losses resulting from any misrepresentation or untrue or inaccurate warranty made by Seller in this Agreement
exceeds the Basket Amount, Purchaser shall be entitled to recover such Losses in excess of the Basket Amount from Seller at Closing
by means of an adjustment or credit to the Purchase Price, or after Closing, as applicable, in accordance with any Purchaser’s
Loss Notice delivered in accordance with Section 10.03 hereof; provided, however, that in no event shall Seller’s liability
hereunder, and Purchaser’s credit on account thereof, exceed Sixty Thousand and 00/100 Dollars ($120,000.00) (the “Maximum
Credit Amount”). If the aggregate amount of any credits which Purchaser would otherwise be entitled to receive pursuant
to this Section 15.01(a) exceeds the Maximum Credit Amount, then Purchaser shall have the right to terminate this Agreement and
receive the return of the Downpayment (in which event neither party shall have any obligations or liabilities hereunder except
those that expressly survive termination of this Agreement); provided, however, that Purchaser shall not be permitted to terminate
this Agreement if Seller elects (it being acknowledged that Seller shall have the right but not the obligation to make such election)
to grant a credit to Purchaser at Closing in the aggregate amount by which the Losses exceeds the Basket Amount. In the event that
there is a dispute as to whether Purchaser has incurred any Loss or Losses as a result of any misrepresentation or untrue or inaccurate
warranty made by Seller in this Agreement, then, unless the aggregate amount thereof exceeds the Maximum Credit Amount, the Closing
shall occur without adjustment regarding same; provided, however, that a portion of the Purchase Price equal to the disputed amount
(up to the Maximum Credit Amount) shall be held in escrow by the Escrow Agent pending resolution of the dispute.

 

(ii) Seller shall
have performed, in all material respects, all obligations and agreements undertaken by it herein to be performed on or prior to
the Closing Date.

 

(b) Seller’s
obligations to close title under this Agreement on the Closing Date shall be subject to the satisfaction of the following conditions
precedent on the Closing Date:

 

(i) all of Purchaser’s
representations and warranties made in this Agreement shall be true and correct in all material respects as of the Closing Date
as if they were made on that date;

 

(ii) Purchaser
shall have timely paid to Seller or its designee(s) the Purchase Price and any other amounts required to be paid by Purchaser hereunder;
and

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(iii) Purchaser
shall have performed, in all material respects, all other obligations and agreements undertaken by it herein to be performed on
or prior to the Closing Date.

 

SECTION 16: TRANSFER TAX AND TRANSACTION
COSTS

 

Section 16.01. At the Closing,
Seller shall pay or credit to Purchaser an amount equal to (a) any and all applicable taxes imposed by the State of New York or
the city or county in which the Property is located with respect to in connection with the conveyance of the Property to Purchaser,
(b) any recording fees for the release or satisfaction of Seller’s existing mortgage of the Real Property, and (c) one-half
(1/2) of any escrow or closing fees.

 

Section 16.02. Purchaser
shall pay for (a) any and all costs and expenses associated with its due diligence, including any searches performed by the Title
Insurer, (b) all costs and expenses of its legal counsel, advisors and other professionals employed by it in connection with the
transfer of the Property, (c) premiums for Purchaser’s and any lender’s title insurance policy and all endorsements
thereto, (d) all costs and expenses incurred in connection with obtaining a current survey or any update of any existing survey
of the Property, (e) all costs and expenses incurred in connection with any financing obtained by Purchaser, including without
limitation, loan fees, mortgage recording taxes, financing costs and lender’s legal fees (it being acknowledged and agreed
by the parties, however, that the obligations of Purchaser hereunder shall not be contingent upon Purchaser obtaining any such
financing), (f) one half (1/2) of any escrow or closing fees, and (g) any recording fees for documentation to be recorded in connection
with the transactions contemplated by this Agreement (other than for the release or satisfaction of the Seller’s existing
mortgage of the Real Property).

 

Section 16.03. The provisions
of this Section 16 shall survive the Closing.

 

SECTION 17: NOTICES

 

Section 17.01. All notices,
requests and demands to be made hereunder to the parties hereto shall be in writing (at the addresses set forth below) and shall
be given by any of the following means: (a) personal delivery (including, without limitation, overnight delivery, courier or messenger
services) or (b) registered or certified, first-class United States mail, postage prepaid, return receipt requested or (c) electronic
mail (email), provided that a copy of such notice, request or demand is also sent on the same day by one of the other means set
forth in this Section 17. Notice by a party’s counsel shall be deemed to be notice by such party. All notices to the Sellers
shall be sent to the address set forth below. Such addresses may be changed by notice to the other parties given in the same manner
as provided above. Any notice, demand or request sent (x) pursuant to subsection (a), above, shall be deemed received upon such
personal delivery, and (y) pursuant to subsection (b), above, shall be deemed received three (3) days following deposit in the
mail, and (z) pursuant to subsection (c), above, shall be deemed received the same day the email is sent.

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	To Purchaser:	c/o Enzo Biochem,Inc.

 527 Madison Avenue

New York, New York 10022

Attn: James O’Brien

E-mail: jobrien@enzo.com
	 	 
	With copies to:	McDermott Will & Emery LLP

340 Madison Avenue

New York, New York 10173-1922

Attn: Robert Cohen, Esq.

E-mail: rcohen@mwe.com
	 	 
	If to Seller:	Building Blocks Realty Co. LLC

105 Maxess Road, Suite SB 124

Melville, New York 11746

Attention: Susan Weinreb

E-mail: weinreb.susan@gmail.com
	 	 
	With copies to:	Weinberg, Gross & Pergament LLP

    400 Garden City Plaza

    Garden City, New York 11530

    Attention: David E. Miller, Esq.

    E-mail: dmiller@wgplaw.com
	 	 
	If to Escrow Agent:	AmTrust Title Insurance Company

    220 East 42nd Street, 24th Floor

    New York, New York 10017

    Attention: Felice K. Shapiro, EVP and Chief Underwriter

    E-mail: felice.shapiro@amtrustgroup.com
	 	 
	With copies to:	AmTrust Title Insurance Company

    50 Lindbergh Blvd., Suite 600

    Uniondale, New York 11553

    Attention: Timothy A. Bolles and Felix Tschantz

    E-mail: timothy.bolles@amtrustgroup.com and

 felix.tschantz@amtrustgroup.com

 

SECTION 18: DEFAULT

 

Section 18.01. Purchaser’s
Default. If Purchaser shall default (a) in the payment of the Purchase Price or the performance of any of its other obligations
to be performed on the Closing Date or (b) in the performance of any of its material obligations to be performed prior to the Closing
Date and, with respect to any default under this clause (b) only, such default shall not be cured on or prior to the date that
is five (5) Business Days after written notice to Purchaser, Purchaser’s attorney and Escrow Agent, then Seller shall have
the right to treat this Agreement as

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having been breached by Purchaser and Seller’s
sole and exclusive remedy on account of such breach shall be the right to terminate this Agreement by written notice to Purchaser
or Purchaser’s attorney. Upon such termination (i) Purchaser shall forfeit all rights and claims with respect to the Property
pursuant to this Agreement and to the Downpayment and (ii) Escrow Agent shall promptly remit the Downpayment to Seller; and thereupon
neither party shall have any obligations or liabilities hereunder except those that expressly survive termination of this Agreement.
In the event the payment of the Downpayment to Seller is delayed in connection with any litigation, then, in addition to receipt
of the Downpayment, Seller shall be entitled to judgment interest from Purchaser from date on which the Downpayment would have
otherwise been payable to Seller, but for such litigation (and such entitlement of Seller and obligation of Purchaser shall survive
the termination of this Agreement). Seller and Purchaser hereby agree that payment of the Downpayment to Seller shall be deemed
to be fair and adequate, but not excessive, liquidated damages (and not a penalty) based upon the following considerations which
Seller and Purchaser agree would constitute damages to Seller for any default by Purchaser but which are impossible to quantify,
to wit: (A) the removal of the Property from the real estate market together with the uncertainty of obtaining a new purchaser
at the same or greater purchase price; (B) the expenses incurred by Seller, including (but not by way of limitation) attorneys’
fees, taxes, mortgage interest, and other items incidental to the maintenance of the Property until it is eventually sold; and
(C) all other expenses incurred by Seller as a result of Purchaser’s default. The Downpayment is not intended to cap amounts,
if any, due Seller in respect of any indemnification from Purchaser that survives termination of or Closing under this Agreement.
In the event of such termination, Purchaser shall promptly destroy all due diligence materials, reports and studies delivered to
Purchaser by Seller or any broker, agent, representative or employee of Seller (without Purchaser retaining copies thereof).

 

Section 18.02. Seller’s
Default. In the event Purchaser discovers, prior to the Closing Date, that (a) any of the representations and warranties set
forth in Section 10.01 hereof are false as of the Effective Date of this Agreement, or (b) Seller shall default in the performance
of (i) any of its material obligations to be performed on the Closing Date or (ii) any of its material obligations to be performed
prior to the Closing Date and, with respect to any default under this clause (ii) only, such default shall not be cured on or prior
to the earlier to occur of the date that is five (5) Business Days after written notice to Seller, Seller’s attorney and
Escrow Agent or the Closing Date, then Purchaser’s sole and exclusive remedy by reason thereof (in lieu of prosecuting an
action for damages or proceeding with any other legal or equitable course of conduct, the right to bring such actions or proceedings
being expressly and voluntarily waived by Purchaser, to the extent legally permissible, following and upon advice of its counsel)
shall be to terminate this Agreement and receive the Downpayment. If, however, Seller is able to convey title to the Property to
Purchaser pursuant to the terms hereof but Seller intentionally and willfully fails to do so, then Purchaser may either (1) terminate
this Agreement and receive the Downpayment or (2) seek to obtain specific performance of Seller’s obligations hereunder,
provided that any action for specific performance shall be commenced within thirty (30) days after such default; it being understood
and agreed that if Purchaser fails to commence an action for specific performance within thirty (30) days after such default, then
this Agreement shall automatically terminate, effective as of the day immediately following such thirty (30) day period, and thereupon
the Downpayment shall be returned to Purchaser, and the parties hereto shall be released of all obligations and liabilities of
whatsoever nature in connection with this Agreement except those that expressly survive termination of this Agreement. If Purchaser
elects to seek specific

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performance of this Agreement, then as a condition
precedent to any suit for specific performance, Purchaser shall on or before the Closing Date, time being of the essence, fully
perform all of its obligations hereunder which are capable of being performed (other than the payment of the Purchase Price, which
shall be paid as and when required by the court in the suit for specific performance). Upon the termination of this Agreement and
the return of the Downpayment to Purchaser in accordance with this Section 18.02, neither party shall have any obligations or liabilities
hereunder except those that expressly survive termination of this Agreement. Notwithstanding the foregoing, Purchaser shall have
no right to seek specific performance, if Seller shall be prohibited from performing its obligations hereunder by reason of any
law, regulation, or other legal requirement applicable to Seller. Under no circumstance shall Seller be liable to Purchaser for
any consequential, punitive or other damages.

 

SECTION 19: ASSIGNMENT

 

Section 19.01. This Agreement
and Purchaser’s rights hereunder may not be assigned by Purchaser without the prior written consent of Seller (which may
be withheld by Seller in its sole and absolute discretion, which may be arbitrary). Notwithstanding the foregoing, Purchaser shall
have the right, upon notice to (but without the requirement for the consent of) Seller, to assign its rights and entitlements under
this Agreement to an entity owned and controlled by Purchaser, provided that no such assignment shall be construed as to release
or relieve Purchaser of or from the obligations and liabilities of Purchaser under this Agreement.

 

Section 19.02. Notwithstanding
anything herein to the contrary, Seller shall have the right, prior to Closing, to assign the rights under this Agreement and to
transfer the Property to any escrow holder or exchange facilitator (a “Qualified Intermediary”) selected by
Seller in order to effect a Section 1031 exchange. Purchaser agrees to cooperate with Seller and the Qualified Intermediary in
any manner necessary to complete the Section 1031 exchange; provided, however that Purchaser shall not be required to incur any
additional cost or expense, and the completion of the Section 1031 exchange will not delay or postpone the Closing. Seller’s
effectuation of the Section 1031 exchange prior to Closing shall not be a condition or contingency to Seller’s obligation
hereunder.

 

SECTION 20: COUNTERPARTS

 

Section 20.01. This Agreement
may be executed in counterparts. The signatures of the parties who sign different counterparts of this Agreement or any of the
instruments executed to effectuate the purposes of this Agreement shall have the same effect as if those parties had signed the
same counterparts of this Agreement or of any such instrument.

 

SECTION 21: FURTHER ASSURANCES

 

Section 21.01. Purchaser
and Seller each agree to execute and deliver to the other such further documents or instruments as may be reasonable and necessary
in furtherance of the performance of the terms, covenants and conditions of this Agreement. This Section 21.01 shall survive the
Closing.

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SECTION 22: MISCELLANEOUS

 

Section 22.01. Seller agrees
that, at Purchaser’s election made by written notice to Seller at least forty five (45) days prior to Closing, Seller, as
an accommodation to Purchaser, shall request that the mortgagee under the existing mortgage encumbering the Premises (collectively,
the “Existing Mortgage”) provide a pay-off statement for the indebtedness secured by the Existing Mortgage as of the
Closing Date and assign such mortgage to Purchaser’s new lender in exchange for (i) payment of such indebtedness, (ii) the
unconditional release of the Seller and all guarantors of the Existing Mortgage from all liability under the Existing Mortgage
by the current holder of the Existing Mortgage, the assignee, and their successors and assigns from all liability under, in connection
with or related to the Existing Mortgage, and (iii) the agreement of the Purchaser and Enzo Biochem, Inc. to indemnify and hold
harmless the Seller and the guarantors under the Existing Mortgage from liability under, in connection with or related to the Existing
Mortgage. Purchaser shall pay all fees, costs and expenses in connection with the assignment of the Existing Mortgage and assumption
thereof by the Purchaser including all fees, costs and expenses, if any, of the mortgagee under the Existing Mortgage and the Seller’s
reasonable attorneys’ fees. In connection therewith, Seller shall have no obligation to expend any money, take any action,
incur any liability, provide any financial accommodations or commence any litigation in connection with the procurement or delivery
of an assignment of the Existing Mortgages. In addition, (i) the delivery of an assignment of such Existing Mortgages or Purchaser
obtaining any financing shall not be a condition to the obligation of Purchaser to close hereunder, (ii) in no event shall Purchaser
have any right to terminate this Agreement due to the failure to obtain or assign any such Existing Mortgages or obtain any financing,
(iii) Purchaser shall not be entitled to a reduction of the Purchase Price due to the failure to obtain any such assignment of
such Existing Mortgages or financing, (iv) in no event shall the Closing Date be extended due to the failure to obtain any such
assignment of such Existing Mortgages or financing, (v) the assumption of the Existing Mortgage and the releases and indemnity
to be provided to the Seller and the guarantors of the Existing Mortgage shall be in form and substance reasonably satisfactory
to the Seller, and (vi) Seller does not make any representation or warranty that an assignment of the Existing Mortgage will be
obtained.

 

Section 22.02. Subject to
Section 19 hereof, this Agreement shall be binding upon and shall inure to the benefit of Seller and Purchaser and their respective
successors and assigns.

 

Section 22.03. This Agreement
shall be governed by and construed in accordance with the laws of the State in which the Real Property is located. This Agreement
shall be construed without regard to any presumption or other rule requiring construction against the party causing this Agreement
to be drafted. If any words or phrases in this Agreement shall have been stricken out or otherwise eliminated, whether or not any
other words or phrases have been added, this Agreement shall be construed as if the words or phrases so stricken out or otherwise
eliminated were never included in this Agreement and no implication or inference shall be drawn from the fact that said words or
phrases were so stricken out or otherwise eliminated. All terms and words used in this Agreement, regardless of the number or gender
in which they are used, shall be deemed to include any other number and any other gender as the context may require.

    	27

    	

    

Section 22.04. The headings
of the several Sections contained in this Agreement are inserted only as a matter of convenience and for reference and in no way
define, limit or describe the scope of this Agreement or the intent of any provision thereof.

 

Section 22.05. The invalidity
or unenforceability of any provision of this Agreement shall not affect or impair any other provision of this Agreement.

 

Section 22.06. This Agreement
contains the entire agreement between Seller and Purchaser, and any and all prior understandings and dealings heretofore had are
merged herein and any agreement hereafter made shall be ineffective to change, modify or discharge this Agreement in whole or in
part unless such agreement hereafter made is in writing and signed by Seller and Purchaser.

 

Section 22.07. Purchaser
acknowledges and agrees that its obligations under this Agreement are not subject to its ability to obtain financing for or in
connection with such acquisition or other contingencies or satisfaction of conditions and Purchaser shall have no right to terminate
this Agreement or receive a return of the Downpayment except as otherwise expressly provided for in this Agreement. Nothing herein
shall prohibit Purchaser from seeking or obtaining financing.

 

Section 22.08. Purchaser
shall have no right to record this Agreement or a memorandum hereof. If Purchaser shall so record this Agreement or a memorandum,
Purchaser shall be in default of the terms and conditions of this Agreement and, in addition to any other rights or remedies available
to Seller as a result of Purchaser’s default, Seller may, at Seller’s option, immediately terminate this Agreement.

 

Section 22.09. Intentionally
Omitted.

 

Section 22.10. Notwithstanding
any provision to the contrary contained herein, in any instance where Purchaser is entitled to the return of the Downpayment, Seller
shall be entitled to instruct Escrow Agent (and Purchaser hereby authorizes Escrow Agent) to deduct therefrom, and deliver to Seller,
amounts, if any, owed to Seller in respect of any indemnification by Purchaser, as reasonably determined by Seller, prior to Escrow
Agent’s returning the Downpayment to Purchaser.

 

Section 22.11. Purchaser
shall look solely to Seller’s interest in the Property (including the net proceeds from the sale of the Property after payment
of all third party closing expenses and payment of the release price to the Lender) as if said asset were the sole asset of Seller
for the payment or satisfaction of claims of any nature or for any performance arising under or in connection with this Agreement;
provided, however, the foregoing is not intended to expand Seller’s liability hereunder and, accordingly, such liability
is further limited by the other provisions of this Agreement, including, without limitation, the provisions of Section 10.03 and
10.04, Section 15.01(a)(i) and Section 18.02 (which sections limit Seller’s liability to Purchaser or Purchaser’s remedies
against Seller).

 

Section 22.12. Purchaser
agrees that the submission of a draft of this Agreement by Seller is not intended to be an offer to enter into a legally binding
contract with respect to the purchase and sale of the Property pursuant to the terms of this Agreement. Seller shall be legally
bound

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with respect to the purchase and sale of the
Property pursuant to the terms of this Agreement only if and when the parties have been able to negotiate all of the terms and
provisions of this Agreement in a manner acceptable to each of the parties in their respective sole discretion, including, without
limitation, all of the Exhibits and Schedules hereto, and each of Seller and Purchaser have fully executed and delivered to each
other a counterpart of this Contract, including, without limitation, all Exhibits and Schedules hereto.

 

SECTION 23: ESCROW AGENT

 

Section 23.01. Seller and
Purchaser hereby designate “Escrow Agent” to receive and hold the Downpayment delivered herewith by Purchaser
in accordance with Section 3 hereof, and Escrow Agent agrees to act as such Escrow Agent subject to the provisions of this Section
23. Upon receipt by Escrow Agent of the Downpayment, Escrow Agent shall cause the same to be deposited into Escrow Agent’s
IOLA (i.e., non-interest-bearing) account, it being agreed that Escrow Agent shall not be liable for (a) any loss of such investment
(unless due to Escrow Agent’s gross negligence or willful misconduct) or (b) any failure to attain a rate of return on such
investment.

 

Section 23.02. On receipt
by Escrow Agent of a statement executed by Seller and Purchaser that title to the Property has closed under this Agreement, Escrow
Agent shall promptly deliver such Downpayment to Seller.

 

Section 23.03. On receipt
by Escrow Agent of a statement executed by Purchaser prior to the Closing Date that title to the Property has not closed under
this Agreement because of a default by Seller under this Agreement or because of Seller’s inability to convey title to the
Property in accordance with the provisions of this Agreement or because any contingency contained in this Agreement has not been
satisfied or waived, Escrow Agent shall, within ten (10) Business Days, deliver a copy of said statement to Seller and return such
Downpayment to Purchaser on the tenth (10th) Business Day after receipt by Seller of said statement unless Escrow Agent,
prior to such return, receives from Seller a statement contesting the accuracy of Purchaser’s statement and demanding retention
of said Downpayment by Escrow Agent.

 

Section 23.04. On receipt
by Escrow Agent of a statement executed by Seller prior to the Closing Date that title to the Property has not closed under this
Agreement because of a default by Purchaser under this Agreement, Escrow Agent shall within ten (10) Business Days deliver a copy
of said statement to Purchaser and deliver such Downpayment to Seller on the tenth (10th) Business Day after receipt
by Purchaser of such statement unless Escrow Agent, prior to such delivery, receives from Purchaser a statement contesting the
accuracy of Seller’s statement and demanding retention of said Downpayment by Escrow Agent.

 

Section 23.05. On receipt
by Escrow Agent of a statement from Seller or Purchaser, as the case may be, under Sections 23.03 or 23.04 above, Escrow Agent
shall retain the Downpayment and thereafter deliver the same to either Seller or Purchaser as Seller and Purchaser may jointly
direct by a statement executed by them both, provided if there is any dispute with respect to the Downpayment, Escrow Agent may
immediately and with notice to Seller and Purchaser, surrender said Downpayment to a court of competent jurisdiction for such disposition
as may be directed by such court.

    	29

    	

    

Section 23.06. Upon delivery
of the Downpayment to either Purchaser, Seller or a court of competent jurisdiction under and pursuant to the provisions of this
Section 23, Escrow Agent shall be relieved of all liability, responsibility or obligation with respect to or arising out of the
Downpayment and any and all of its obligations arising therefrom.

 

Section 23.07. The Escrow
Agent shall not be liable for any error of judgment or for any act done or omitted by it in good faith or for anything which it
may in good faith do or refrain from doing in connection herewith or for any negligence other than its gross negligence, nor shall
the Escrow Agent be answerable for the default or misconduct other than the willful misconduct of its agents, attorneys or employees
if they be selected with reasonable care. The Escrow Agent is authorized to act upon any document believed by it to be genuine
and to be signed by the proper party or parties and will incur no liability in so acting. Seller and Purchaser jointly and severally
agree to and do hereby indemnify and hold harmless Escrow Agent from all loss, cost, claim, damage, liability, and expense (including
attorney’s fees and disbursements) which may be incurred by reason of its acting as Escrow Agent, provided the same is not
the result of Escrow Agent’s gross negligence or willful misconduct. Purchaser acknowledges and agrees that Escrow Agent
shall be entitled to represent Seller in any dispute with respect to the Downpayment, or otherwise.

 

Section 23.08. The Escrow
Agent has executed this Agreement for the sole purpose of agreeing to act as such in accordance with the terms of this Section
23.

 

Section 23.09. The provisions
of this Section 23 shall survive the Closing or termination of this Agreement.

 

SECTION 24: CONFIDENTIALITY

 

Section 24.01. Purchaser
shall maintain, in the strictest confidence, the contents of any and all information in respect of the Property which is supplied
to, or obtained by, Purchaser or its principals, employees, contractors, consultants, advisors, attorneys, accountants, members,
investors and lenders involved in the acquisition of the Property (collectively, the “Representatives”) by Seller
or its Representatives, including, without limitation, any third party reports in respect of the Property (collectively, the “Confidential
Information”). Notwithstanding the foregoing, Purchaser may, without Seller’s consent, disclose such Confidential
Information (a) to its Representatives without the express written consent of Seller, so long as any Representatives to whom disclosure
is made agree to keep all such information confidential in accordance with the terms hereof and (b) if disclosure is required by
law or by regulatory or judicial process, provided that in such event the Purchaser shall, to the extent practicable, furnish Seller
with prior written notice of any such required disclosure, shall exercise all commercially reasonable efforts (at no cost or expense
to Purchaser) to preserve the confidentiality of the Confidential Information, including, without limitation, reasonably cooperating
with Seller to obtain an appropriate order or other reliable assurance that confidential treatment will be accorded such Confidential
Information by such tribunal and shall disclose only that portion of the Confidential Information that it is legally required to
disclose. Upon any termination of this Agreement, such confidentiality shall be maintained and Purchaser will destroy such Confidential
Information as was previously provided to Purchaser by Seller, with any such destruction confirmed by Purchaser in writing. For
purposes of this Agreement, Confidential

    	30

    	

    

Information excludes information which: (i)
is or becomes generally available to or known by the public other than as a result of a disclosure by Purchaser or its Representatives;
(ii) is or becomes available to Purchaser or its Representatives on a non-confidential basis from a source other than Seller or
its representatives, provided that such source is not prohibited from disclosing such information by a legal, contractual or fiduciary
obligation to Seller, or (iii) is independently developed by Purchaser or its Representatives. Purchaser hereby agrees to indemnify
Seller from and against any actual loss or actual out of pocket cost or expense (including reasonable attorneys’ fees) arising
by reason of a breach by Purchaser or its Representatives of the provisions of this Section 24. The provisions of this Section
24 shall survive any termination of this Agreement, but shall not survive Closing.

 

Section 24.02. Without limiting
the foregoing provisions of this Section 24, Purchaser shall not issue any press releases (or other public statements) with respect
to the transaction contemplated in this Agreement without the prior written approval of Seller, which approval shall not be unreasonably
withheld, conditioned or delayed; provided, however that Seller’s consent shall not be required in connection with SEC filings
by Purchaser required by applicable law or press releases or public statements made by the Town of Babylon with respect to the
transaction contemplated by this Agreement.

 

SECTION 25: TAX PROCEEDINGS

 

Section 25.01. Real estate
tax refunds or credits received by Seller that are attributable to the fiscal tax year in which the Closing occurs shall be apportioned
between Seller and Purchaser less any reasonable expenses incurred by Seller in connection with the prosecution of such proceeding.
In the event any such proceeding shall affect a fiscal tax year falling entirely during Purchaser’s period of ownership,
Seller shall, at Purchaser’s election, at the Closing, assign all of its right, title and interest in such proceeding to
Purchaser pursuant to an assignment in form reasonably acceptable to Purchaser. If Purchaser does not elect to accept such assignment,
Seller may withdraw such proceeding. Real estate tax refunds or credits received by Purchaser post-Closing directly from the applicable
municipality that are attributable to the fiscal tax year in which the Closing occurs shall be apportioned between Seller and Purchaser.
Real estate tax refunds or credits received by Purchaser post-Closing directly from the applicable municipality that are attributable
to a fiscal year prior to the fiscal year of the Closing shall be paid to Seller. Seller shall not settle the year of Closing,
without Purchaser’s consent, which shall not be unreasonably withheld, delayed or conditioned. Seller shall not settle multiple
years, which include the year of Closing, if the result of such settlement is that the year of Closing is not settled on terms
at least as favorable as the prior years. The provisions of this Section 25 shall survive Closing.

 

SECTION 26: SALE BROKERAGE AGREEMENTS

 

Section 26.01. Each of Seller
and Purchaser hereby represent and warrant to the other that it has not (a) dealt with any agent, finder or broker in connection
with this Agreement other than Equity Transfers, LLC (“Broker”) or (b) made any agreement to pay any agent, finder,
broker or any other Person any fee or commission in the nature of a broker’s fee arising out of or in connection with this
Agreement other than Seller’s agreement to pay the Broker a commission

    	31

    	

    

pursuant to separate agreement. Purchaser hereby
agrees that, in the event any claim is made for any fees or commissions by any broker, agent, finder or any other Person other
than the Broker in connection with this Agreement and arising by, through or on account of any act of Purchaser or any of its Representatives,
Purchaser shall indemnify and hold harmless Seller from and against any and all claims, liabilities, costs and expenses (including,
without limitation, reasonable attorney’s fees and disbursements) in connection therewith. Seller hereby agrees that, in
the event that any claim is made for any fees or commissions by any broker, agent, finder or any other Person in connection with
this Agreement and arising by, through or on account of any act of Seller or Seller’s representatives, Seller shall indemnify
and hold harmless Purchaser from and against any and all claims, liabilities, costs and expenses (including, without limitation,
reasonable attorney’s fees and disbursements) in connection therewith. The foregoing indemnities shall survive the Closing
or termination of this Agreement, as applicable.

 

SECTION 27: THIRD PARTY BENEFICIARY

 

Section 27.01. This Agreement
is an agreement solely for the benefit of Seller and Purchaser (and their permitted successors and/or assigns). No other Person
shall have any rights hereunder nor shall any other Person be entitled to rely upon the terms, covenants and provisions contained
herein. The provisions of this Section 27 shall survive the Closing or the termination hereof.

 

SECTION 28: JURISDICTION AND SERVICE OF PROCESS

 

Section 28.01. The parties
hereto agree to submit to personal jurisdiction in the State of New York in any action or proceeding arising out of this Agreement
and, in furtherance of such agreement, the parties hereby agree and consent that without limiting other methods of obtaining jurisdiction,
personal jurisdiction over the parties in any such action or proceeding may be obtained within or without the jurisdiction of any
court located in New York and that any process or notice of motion or other application to any such court in connection with any
such action or proceeding may be served upon the parties in any manner permitted by applicable law. The provisions of this Section
28 shall survive the Closing or the termination hereof. Any litigation arising from this Agreement shall be commenced and prosecuted
in a court of competent jurisdiction in Nassau County, New York.

 

SECTION 29: WAIVER OF TRIAL BY JURY

 

Section 29.01. Seller and
Purchaser hereby irrevocably and unconditionally waive any and all right to trial by jury in any action, suit or counterclaim arising
in connection with, out of or otherwise relating to this agreement. The provisions of this Section 29 shall survive the closing
or the termination hereof.

 

SECTION 30: PREVAILING PARTY

 

Section 30.01. If any party
hereto files any suit, commences any action, arbitration or other proceeding, or asserts any claim to enforce its rights under
this Agreement, or to recover damages for the breach hereof, the prevailing party shall be entitled to recover from the other party
the costs and expenses, including reasonable attorneys’ fees, incurred in such suit or on appeal or in any bankruptcy or
other insolvency proceedings.

    	32

    	

    
IN
WITNESS WHEREOF, Seller and Purchaser have executed this Agreement as of the day and year first above written.

 

	 	SELLER	 
	 	 	 	 
	 	BUILDING BLOCKS REALTY CO. LLC	 
	 	 	 	 
	 	 By:  /s/ Susan Weinreb

 

	 
	 	 	Susan Weinreb, Manager	 
	 	 	 	 
	 	PURCHASER	 
	 	 	 
	 	ENZO REALTY LLC	 
	 	 	 
	 	By:  /s/ Barry Weiner

 

	 
	 	Name: Barry Weiner	 
	 	Title: President, Chief Financial Officer
    and Treasurer	 
	 	 	 
	 	ESCROW AGENT	 
	 	 	 
	 	AMTRUST TITLE INSURANCE COMPANY	 
	 	 	 
	 	By:  /s/ Felice K. Shapiro

 

	 
	 	Name: Felice K. Shapiro	 
	 	Title: EVP Chief Underwriter	 

 

[Signature
Page to Purchase and Sale Agreement]

    	 	 	 

    	

    

SCHEDULE
1

 

Description
of the Land

 

SCHEDULE A
DESCRIPTION

 

ALL that
certain plot, piece or parcel of land, situate, lying and being at Farmingdale in the Town of Babylon, County of Suffolk and State
of New York being part of Lot 1 as shown on a certain map entitled, “Map of Executive Park at Babylon, located in Farmingdale,
Town of Babylon, Suffolk County, NY.” and filed in the Offices of the Clerk of the County of Suffolk on 7/23/1979 as Map
No. 6833; and being bounded and described as follows:

 

BEGINNING
at a point on the southerly side of Executive Boulevard distant 246.16 feet westerly from the northwesterly end of the arc of a
curve with connects the westerly side of Broad Hollow Road, as widened, with the southerly side of Executive Boulevard;

 

RUNNING
THENCE South 9 degrees 53 minutes 20 seconds West, 421.32 feet to land now or formerly of J. Gazza;

 

THENCE
North 65 degrees 28 minutes 30 seconds West, along said lands, 213.01 feet;

 

THENCE
North 8 degrees 31 minutes 20 seconds East, 179.12 feet;

 

THENCE
North 9 degrees 53 minutes 20 seconds East, 239.25 feet to the southerly side of Executive Boulevard;

 

THENCE
easterly along the southerly side of Executive Boulevard, the following three (3) courses and distances:

 

	1)	South 62 degrees 35 minutes 23 seconds East, 54.42 feet;
	 	 
	2)	Along the arc of a curve bearing to the left, having a
    radius of 780.66 feet, a distance of 103.34 feet;
	 	 
	3)	South 70 degrees 10 minutes 28 seconds East, 61.02 feet
    to the point or place of BEGINNING.

    	 	 	 

    	

    

SCHEDULE 2

 

Escrow Agent’s Wire Instructions

 

Sterling National

Bank Montebello, NY 10901

 

Routing Number: 

SWIFT: 

 

AmTrust Title Insurance Co. Clearing Account

50 Charles Lindbergh Blvd, Suite 600, Uniondale, NY 11553

Account Number: 

    	 	 	 

    	

    

SCHEDULE 2

 

Escrow Agent’s Wire Instructions

 

Routing Number:

SWIFT:

 

AmTrust Title Insurance Co. Clearing Account

50 Charles Lindbergh Blvd, Suite 600, Uniondale, NY 11553

Account Number:

    	 	 	 

    	

    

SCHEDULE 3

 

[Intentionally Omitted]

    	 	 	 

    	

    

SCHEDULE 4 

 

Title Exceptions

 

	1.	Reservation of streets contained in Deed recorded on 11/18/1995 in Liber 9917
    Page 69.
	 	 
	2.	Electric & Gas Easement recorded on 12/26/1980 in Liber 8935 Page 457.
	 	 
	3.	Sewer Easement and Agreement recorded on 5/28/1979 in Liber 8631 Page 389.
	 	 
	4.	Declaration of Covenants and Restrictions recorded on 5/8/2009 in Liber 12587 Page 541.
	 	 
	5.	Thirty (30) foot setback line as shown on Filed Map #6833, filed on 7/23/1979.

    	 	 	 

    	

    

EXHIBIT A

 

List of Leases

 

	Tenant Name	Demised Premises	Lease Documents
	Wrap-N-Pack, Inc.	21 Executive Boulevard,

    Farmingdale, New York	Lease dated October 1, 2016

    	 	 	 

    	

    

EXHIBIT B

 

Form of Deed

 

BARGAIN AND SALE DEED,

WITHOUT COVENANT AGAINST GRANTOR’S ACTS

 

THIS INDENTURE, made the
[____] day of [_____], 2018, by and between BUILDING BLOCKS REALTY CO. LLC, party of the first part, and ____________________,
party of the second part.

 

WITNESSETH, that the party
of the first part, in consideration of Ten and No/100ths dollars and other valuable consideration, in lawful money of the United
States, paid by the party of the second part, does hereby grant and release unto the party of the second part, the heirs, successors
and assigns of the party of the second part forever:

 

ALL that certain plot, piece
or parcel of land, with the buildings and improvements thereon erected, situated, lying and being in the

 

TOWN OF BABYLON

COUNTY OF SUFFOLK

STATE OF NEW YORK, AS MORE PARTICULARLY

DESCRIBED ON EXHIBIT A ATTACHED
HERETO

AND MADE A PART HEREOF;

 

TOGETHER with all right,
title and interest, if any, of the party of the first part in and to any streets and roads abutting the above described premises
to the center lines thereof;

 

TOGETHER with the appurtenances
and all the estate and rights of the party of the first part in and to said premises;

 

TO HAVE AND TO HOLD the
premises herein granted unto the party of the second part, the heirs or successors and assigns of the party of the second part
forever.

 

The party of the first part,
in compliance with Section 13 of the Lien Law, covenants that the party of the first part will receive the consideration for this
conveyance and will hold the right to receive such consideration as a trust fund to be applied first for the purpose of paying
the cost of the improvements and will apply the same first to the payment of the cost of the improvements before using any part
of the total of the same for any other purpose.

 

The word “party”
shall be construed as if it read “parties” whenever the sense of this indenture so requires.

    	 	 	 

    	

    

IN WITNESS WHEREOF, the party of the first
part has duly executed this deed the day and year first above written.

 

	 	BUILDING BLOCKS REALTY CO. LLC
	 	 	 	 
	 	By:	 	 
	 	 	Susan Weinreb, Manager	 

    	 	 	 

    	

    

	STATE OF NEW YORK	)
	 	) ss.:
	COUNTY OF NASSAU	)

 

On the ____ day of ____________,
in the year 2018, before me, the undersigned, a Notary Public in and for said State, personally appeared SUSAN WEINREB, personally
known to me or proved to me on the basis of satisfactory evidence to be the individual(s) whose name(s) is (are) subscribed to
the within instrument and acknowledged to me that he/she/they executed the same in his/her their capacity(ies), and that by his
her/their signature(s) on the instrument, the individual(s), or the person upon behalf of which the individual(s) acted, executed
the instrument.

 

	 	Signature and office of individual taking	 
	 	acknowledgment	 

 

	Section: 94
 Block: 1
 Lot:
    86.003
 County or Town: Babylon	RETURN BY MAIL TO:
	Address: 	21 Executive Boulevard	 
	 	Farmingdale, New York	 

    	 	 	 

    	

    

(EXHIBIT
A to DEED)

 

Legal
Description

 

SCHEDULE
A DESCRIPTION

 

ALL
that certain plot, piece or parcel of land, situate, lying and being at Farmingdale in the Town of Babylon, County of
Suffolk and State of New York being part of Lot 1 as shown on a certain map entitled, “Map of Executive Park at
Babylon, located in Farmingdale, Town of Babylon, Suffolk County, N.Y.” and filed in the Offices of tha Clerk of the
County of Suffolk on 7/23/1979 as Map No. 6833; and being bounded and described as follows:

 

BEGINNING
at a point on the southerly side of Executive Boulevard distant 246.16 feet westerly from the northwesterly end of the arc of
a curve with connects the westerly side of Broad Hollow Road, as widened, with the southerly side of Executive Boulevard;

 

RUNNING
THENCE South 9 degrees 53 minutes 20 seconds West, 421.32 feet to land now or formerly of J. Gazza;

 

THENCE
North 65 degrees 28 minutes 30 seconds West, along said lands, 213.01 feet;

 

THENCE
North 8 degrees 31 minutes 20 seconds East, 179.12 feet;

 

THENCE
North 9 degrees 53 minutes 20 seconds East, 239.25 feet to the southerly side of Executive Boulevard;

 

THENCE
easterly along the southerly side of Executive Boulevard, the following three (3) courses and distances:

 

	1)	South
    62 degrees 35 minutes 23 seconds East, 54.42 feel;
	 	 
	2)	Along
    the arc of a curve bearing to the left, having a radius of 780.66 feet, a distance of 103.34 feet;
	 	 
	3)	South
    70 degrees 10 minutes 28 seconds East, 61.02 feet to the point or place of BEGINNING.

    	 	 	 

    	

    

    EXHIBIT C

 

Form of Assignment Agreement

 

ASSIGNMENT AGREEMENT

 

THIS ASSIGNMENT AGREEMENT (this “Assignment”),
dated this ____ day of _________, 2018, is made by and between BUILDING BLOCKS REALTY CO. LLC (the “Assignor”)
and _______________ (“Assignee”).

 

WHEREAS, Assignee has this day purchased
Assignor’s interest in the real property legally described on the attached Exhibit A (the “Premises”);
and

 

WHEREAS, the execution and delivery
of this Assignment is a condition precedent to the purchase by the Assignee of the Premises;

 

NOW, THEREFORE, in consideration
of the purchase and sale of the Premises, and for other good and valuable consideration, Assignor agrees as follows (unless otherwise
defined, all capitalized terms shall have the meanings set forth in the Purchase and Sale Agreement, dated as of June ____, 2018,
by and between Assignor and Assignee (the “Purchase Agreement”) as such capitalized terms relate to the Premises
only);

 

1.       Assignor
hereby grants, transfers and assigns to Assignee, without recourse, representation or warranty, except as otherwise expressly
set forth in the Purchase Agreement, all the right, title and interest of Assignor in and to the following, if any (the “Assigned
Assets”):

 

	 	(i)	all Permits and Licenses, certificates of occupancy, approvals, dedications, subdivision maps or plats and entitlements issued, approved or granted by federal, state or municipal authorities or otherwise in connection with the Premises and its renovation, construction, use, maintenance, repair, leasing and operation; and all licenses, consents, easements, rights of way and approvals required from private parties to make use of utilities, to insure pedestrian ingress and egress to the Premises and to insure continued use of any vaults under public rights-of-way presently used in the operation of the Premises;
	 	 	 
	 	(ii)	all Security Deposits, all Leases, and all correspondence with the Tenants under Leases, all booklets and manuals relating to the maintenance and operation of the Premises; and
	 	 	 
	 	(iii)	the Service Contracts, Warranties, Leasing Brokerage Agreements, Intangible Rights and Personal Property.

 

The foregoing are collectively
referred to herein as the “Assigned Assets”. The foregoing assignment is made without recourse, and on an “as-is,
where-is, with all faults” basis, without any representation or warranty by Assignor except as may be expressly set forth
in the Purchase Agreement.

    	 

    	

    

2.       Assignee hereby accepts the foregoing
assignment of, and assumes all obligations under, the Assigned Assets first arising after the date hereof.

 

3.       This Assignment may be executed in counterparts,
each of which shall constitute an original and all of which, taken together, shall constitute one and the same instrument.

 

4.       This Assignment shall be governed by and
construed in accordance with the laws of the state in which the Premises are located. This Assignment shall be construed without
regard to any presumption or other rule requiring construction against the party causing this Assignment to be drafted.

 

[THE REMAINDER OF THIS PAGE IS INTENTIONALLY
LEFT BLANK]

    	 

    	

    

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

 

	 	ASSIGNOR:
	 	 
	 	BUILDING BLOCKS REALTY CO. LLC
	 	 	 
	 	By:	          	 	 
	 	 	Susan Weinreb, Manager
	 	 	 
	 	ASSIGNEE:
	 	 	 	 	 	 
	 	 	 	 	 
	 	By:	 	 	 
	 	Name: 	 
	 	Title:	 

    	 

    	

    

(EXHIBIT A)

Legal Description

 

SCHEDULE
A DESCRIPTION

 

ALL that certain
plot, piece or parcel of land, situate, lying and being at Farmingdale in the Town of Babylon, County of Suffolk and State of New
York being part of Lot 1 as shown on a certain map entitled, “Map of Executive Park at Babylon, located in Farmingdale, Town
of Babylon, Suffolk County, N.Y.” and filed in the Offices of the Clerk of the County of Suffolk on 7/23/1979 as Map No. 6833;
and being bounded and described as follows:

 

BEGINNING
at a point on the southerly side of Executive Boulevard distant 246.16 feet westerly from the northwesterly end of the arc of a
curve with connects the westerly side of Broad Hollow Road, as widened, with the southerly side of Executive Boulevard;

 

RUNNING THENCE
South 9 degrees 53 minutes 20 seconds West, 421.32 feet to land now or formerly of J. Gazza;

 

THENCE North
65 degrees 28 minutes 30 seconds West, along said lands, 213.01 feet;

 

THENCE North
8 degrees 31 minutes 20 seconds East, 179.12 feet;

 

THENCE North
9 degrees 53 minutes 20 seconds East, 239.25 feet to the southerly side of Executive Boulevard;

 

THENCE easterly
along the southerly side of Executive Boulevard, the following three (3) courses and distances:

 

1) South 62
degrees 35 minutes 23 seconds East, 54.42 feet;

 

2) Along the
arc of a curve bearing to the left, having a radius of 780.66 feet, a distance of 103.34 feet;

 

3) South 70
degrees 10 minutes 28 seconds East, 61.02 feet to the point or place of BEGINNING.

    	 

    	

    

EXHIBIT D

 

Form of Bill of Sale

 

BILL OF SALE

 

BUILDING BLOCKS REALTY
CO. LLC (“Seller”), in consideration of Ten Dollars ($10.00) and other good and valuable consideration paid
to Seller by ___________________ (“Purchaser”), the receipt and sufficiency of which are hereby acknowledged,
hereby sells, conveys, assigns, transfers, delivers and sets over to Purchaser (free and clear of any liens or encumbrances) all
fixtures, furniture, furnishings, equipment, machinery, inventory, appliances and other articles of tangible personal property
(other than the Excluded Property, as defined in that certain Purchase and Sale Agreement, dated as of June ____, 2018, by and
between Seller and Purchaser) owned by Seller and which are located at and used or usable in connection with the real property
located at 21 Executive Boulevard, Farmingdale, New York, except as set forth in such Purchase and Sale Agreement.

 

TO HAVE AND TO HOLD unto Purchaser and its
successors and assigns to its and their own use and benefit forever.

 

This Bill of Sale is made by Seller without
recourse and without any expressed or implied representation or warranty whatsoever.

 

IN WITNESS WHEREOF, Seller has caused this
Bill of Sale to be executed as of this ___ day of ____________________, 2018.

 

	 	BUILDING BLOCKS REALTY CO. LLC
	 	 	 
	 	By: 	          	 	 
	 	 	Susan Weinreb

    	 

    	

    

EXHIBIT E

 

Form of FIRPTA Certificate

 

FIRPTA CERTIFICATE

 

Section 1445 of the
Internal Revenue Code provides that a transferee of a U.S. real property interest must withhold tax if the transferor is a foreign
person. To inform the transferee that withholding of tax is not required upon the disposition of a U.S. real property interest
by BUILDING BLOCKS REALTY CO. LLC (“Seller”), Seller hereby certifies the following:

 

	1.	Seller is not a foreign corporation, foreign partnership, foreign trust or foreign estate (as those terms are defined in the Internal
Revenue Code and Income Tax Regulations);

 

	2.	Seller’s U.S. employer identification number is: ______________; and

 

	3.	Seller’s principal place of business is 105 Maxess Road, Suite SB 124, Melville, NY 11740.

 

Seller understands that this certification
may be disclosed to the Internal Revenue Service by transferee and that any false statement contained herein could be punished
by fine, imprisonment, or both.

 

Under penalties of perjury I declare that
I have examined this certification and to the best of my knowledge and belief it is true, correct and complete, and I further declare
that I have authority to sign this document on behalf of Seller.

 

	 	 	BUILDING BLOCKS REALTY CO. LLC
	 	 	 	 	 
	 	 	By: 	 	 
	 	 	 	Susan Weinreb, Manager	 
	 	 	 	 	 
	Subscribed and sworn to before me this          day of                    ,
    2018.	 	 	 	 
	 	 	 	 	 
	Notary Public	 	 	 	 

    	 

    	

    

EXHIBIT F

 

[Intentionally Omitted]

    	 

    	

    

EXHIBIT G

 

Form of Notice to Tenants

 

BUILDING BLOCKS REALTY CO. LLC

105 Maxess Road, Suite SB 124

Melville, New York 11746

 

____________, 2018

 

TO:

[INSERT NAME AND ADDRESS OF TENANT]

 

Re:       21 Executive Boulevard, Farmingdale,
New York 11735 

 

Dear Tenant:

 

This is to notify you
that, today, the referenced property has been acquired by [______________] (“Purchaser”). As of the date hereof,
your lease/license agreement (including any security deposit) has been assigned to Purchaser.

 

You are hereby authorized and directed to
make all future payments under the lease/license agreement to Purchaser, ___________________________________________. Any future
inquiries regarding your lease/license agreement should be directed to ____________ at the aforementioned address. Please update
the insurance policies carried by you under your lease/license agreement to add Purchaser as an additional insured thereunder and
please deliver certificates evidencing the revised coverage promptly to Purchaser at the aforementioned address.

 

	 	Very truly yours,	 
	 	 	 	 
	 	BUILDING BLOCKS REALTY CO. LLC
	 	 	 	 
	 	By: 	 	 
	 	 	Susan Weinreb, Manager	 

    	 

    	

    

EXHIBIT H 

 

Leasing Brokerage
Agreements

 

NONE

    	 

    	

    

EXHIBIT I

 

Form of Estoppel

 

	Premises:	21 Executed Boulevard, Farmingdale, New York
	 	 
	Lease:	Agreement of Lease, dated October 1, 2016 (the “Lease”), between BUILDING BLOCKS REALTY CO. LLC(“Lessor”), and WRAP-N- PACK, INC., as lessee (“Lessee”), for lease of the Premises

 

The undersigned, the Lessee under the above
described Lease, certifies to Lessor and its successors and assigns, that: (i) the Lease is presently in full force and effect
and has not been assigned, modified, supplemented or amended in any way except as indicated at the end of this certificate; (ii)
the Lease represents the entire agreement between the Lessor and Lessee with respect to the Premises, (iii) the term of the Lease
has commenced and full rental [(except ____________)] is now accruing thereunder; (iv) there are no existing defenses or offsets
which the Lessee has against the enforcement of the Lease by the Lessor; (v) no rent has been paid by Lessee more than 30 days
in advance of the due date [(except for _____________)], and [no] security [in the amount of $_____________] has been deposited
with Lessor; and (vi) all rent payable under the Lease has been paid through __________ ___, 20__.

 

	Dated: _______________ ___, 2018.	 	 	 
	 	 	 	 
	 	WRAP-N-PACK, INC.	 
	 	 	 	 
	 	By:	                    	 	 
	 	Name:	 	 
	 	Title:	 	 

 

Lease Modifications, if any, to be listed here:

    	 

    	

    

EXHIBIT J

 

[Intentionally Omitted]

    	 

    	

    

EXHIBIT K 

 

List of Security Deposits

 

NONE

    	 

    	

    

EXHIBIT L

 

List of Rent Arrearages

 

NONEEX-4.1

 EXHIBIT 4.1 

CITIBANK CREDIT CARD ISSUANCE TRUST 

Citiseries 
 Class 2018-A7 Notes 
 Issuer Certificate 

Pursuant to Sections 202 and 301(h) of the Indenture 

Reference is made to the Second Amended and Restated Indenture dated as of September 26, 2000, as amended and restated as of
August 9, 2011, and as further amended and restated as of November 10, 2016, between Citibank Credit Card Issuance Trust (the “Issuer”) and Deutsche Bank Trust Company Americas, as trustee (as so further amended and restated, the
“Indenture”). Capitalized terms used herein that are not otherwise defined have the meanings set forth in the Indenture. All references herein to designated Sections are to the designated Sections of the Indenture. 

Section 301(h) provides that the Issuer may from time to time create a tranche of Notes either by or pursuant to an Issuer Certificate
setting forth the principal terms thereof. Pursuant to this Issuer Certificate, there is hereby created a tranche of Notes having the following terms: 

Series Designation: Citiseries. This series is included in Group 1. 

Tranche Designation: $1,000,000,000 3.96% Class 2018-A7 Notes of October 2028 (Legal Maturity Date October
2030) (hereinafter, the “Class 2018-A7 Notes”) 
 Currency: The
Class 2018-A7 Notes will be payable, and denominated, in Dollars. 
 Denominations: The Class 2018-A7 Notes will be issuable in minimum denominations of $100,000 and multiples of $1,000 in excess of that amount. 

Issuance Date: October 15, 2018 
 Initial
Principal Amount: $1,000,000,000 
 Issue Price: 99.91837% 

Interest Rate: 3.96% per annum, calculated on the basis of a 360 day year of twelve 30 day months. 

Scheduled Interest Payment Dates: The 13th day of each April and October, beginning April 2019. 

Each payment of interest on the Class 2018-A7 Notes will include all interest accrued from and including the
preceding Interest Payment Date — or, for the first interest period, from and including the Issuance Date — to and including the day preceding the current Interest Payment Date, plus any interest accrued but not previously paid. 

 The first deposit targeted to be made to the Interest Funding sub-Account for the Class 2018-A7 Notes will be on the December 13, 2018 Interest Deposit Date and in an amount equal to $6,380,000.00. 

Expected Principal Payment Date: October 13, 2028 

Legal Maturity Date: October 15, 2030 
 Monthly
Principal Date: For the month in which the Expected Principal Payment Date occurs, October 13, 2028, and for each other month, the 13th day of such month, or if such day is not a Business Day, the next following Business Day. 

Required Subordinated Amount of Class B Notes: $59,829,100.00 

Required Subordinated Amount of Class C Notes: $79,772,100.00 

Controlled Accumulation Amount: $83,333,333.33 
 Form
of Notes: The Class 2018-A7 Notes will be issued as Global Notes. The Global Notes will initially be registered in the name of Cede & Co., as nominee of The Depository Trust Company, and will
be exchangeable for individual Notes only in accordance with the provisions of Section 204(c). 
 Additional Issuances of Class 2018-A7 Notes: The Issuer may at any time and from time to time issue additional Class 2018-A7 Notes, subject to the satisfaction of (i) the conditions
precedent set forth in Section 311(a) and (ii) the following conditions: 
  

	 	(a)	 The Issuer has obtained written confirmation from each Rating Agency that there will be no Ratings Effect with
respect to the then outstanding Class 2018-A7 Notes as a result of the issuance of such additional Class 2018-A7 Notes; 

 

	 	(b)	 As of the date of issuance of the additional Class 2018-A7 Notes,
all amounts due and owing to the Holders of the then outstanding Class 2018-A7 Notes have been paid and there is no Nominal Liquidation Amount Deficit with respect to the then outstanding Class 2018-A7 Notes; 

  

	 	(c)	 The additional Class 2018-A7 Notes will be fungible with the
original Class 2018-A7 Notes for federal income tax purposes; 

  

	 	(d)	 If Holders of the then outstanding Class 2018-A7 Notes have the
benefit of a Derivative Agreement, the Issuer will have obtained a Derivative Agreement for the benefit of the Holders of the additional Class 2018-A7 Notes; and 

 

	 	(e)	 The ratio of the Controlled Accumulation Amount to the Initial Dollar Principal Amount of the Class 2018-A7 Notes, including the additional Class 2018-A7 Notes, will be equal to the ratio of the Controlled Accumulation Amount (before giving effect to the
additional issuance) to the Initial Dollar Principal Amount of the Class 2018-A7 Notes, excluding the additional Class 2018-A7 Notes. 

  
 2 

 As of the date of issuance of additional Class 2018-A7 Notes,
the Outstanding Dollar Principal Amount and Nominal Liquidation Amount of the Class 2018-A7 Notes will be increased to reflect the Initial Dollar Principal Amount of the additional Class 2018-A7 Notes. 
 Any outstanding Class 2018-A7 Notes and any
additional Class 2018-A7 Notes will be equally and ratably entitled to the benefits of the Indenture without preference, priority or distinction. 

Optional Redemption Provisions other than Section 1202 “Clean-Up Call”: None 

Additional Early Redemption Events or changes to Early Redemption Events: None 

Additional Events of Default or changes to Events of Default: None 

Business Day: means any day other than (a) a Saturday or Sunday or (b) any other day on which national banking associations or state banking
institutions in New York, New York or South Dakota, or any other state in which the principal executive offices of any Additional Seller are located, are authorized or obligated by law, executive order or governmental decree to be closed. 

Securities Exchange Listing: None 

  
 3 

 The Class 2018-A7 Notes shall have such other
terms as are set forth in the form of Note attached hereto as Exhibit A. Pursuant to Section 202, the form of Note attached hereto has been approved by the Issuer. 

 

			
	 CITIBANK CREDIT CARD ISSUANCE
TRUST

 
			
		
	By  	 	Citibank, N.A.,
		 	as Managing Beneficiary
		
		 	/s/ Bennett L. Kyte
		 	      Bennett L. Kyte
		 	      Vice President

 Dated: October 15, 2018 

  
 4 

 Citiseries 

Class 2018-A7 Notes 

Reference is made to the resolutions adopted by the Board of Directors of Citibank, N.A. on January 18, 2018, and April 25, 2018.
The resolutions authorize Citibank, N.A. from time to time to issue and sell, or to arrange for or participate in the issuance and sale of, one or more series and/or classes of pass-through certificates, participation certificates, commercial paper,
notes, bonds or other securities representing ownership interests in, or backed or secured by, pools of credit card receivables or interests therein (the “Receivables”) in an aggregate principal amount such that up to $45,000,000,000 of
such certificates, commercial paper, notes, bonds or other securities are outstanding at any one time and to sell, transfer, convey, assign or pledge or grant a security interest in all or any portion of its Receivables to Citibank Credit Card
Master Trust I, Citibank Omni Trust or any direct or indirect subsidiaries of Citibank, N.A., affiliates of Citigroup Inc., additional trusts or other entities or trustees in connection therewith on such terms as to be determined by the Citibank,
N.A. Securitization Pricing and Loan Committee (the “Pricing and Loan Committee”). 
 The undersigned, a duly authorized member of
the Pricing and Loan Committee, on behalf of such Pricing and Loan Committee, does hereby certify that the preceding Issuer Certificate, the terms of the tranche of Notes set forth in and to be created by the Issuer Certificate and the increase in
the Invested Amount of the Collateral Certificate resulting from the issuance of such Notes have been approved by such Pricing and Loan Committee. In addition, the following underwriting/selling agent terms with respect to this tranche of Notes have
been approved by the Pricing and Loan Committee: 
 Issue Price: 99.91837% 

Underwriting Commission: 0.40000% 

Proceeds to Issuer: 99.51837% 

Representative of the Underwriters: Citigroup Global Markets Inc. 

The preceding Issuer Certificate and this certification of Pricing and Loan Committee approval shall be, continuously from the time of their
execution, official records of Citibank, N.A. 
  

	
	/s/ Bennett L. Kyte
	  

	Bennett L. Kyte
	Member of the Securitization Pricing and Loan Committee
	Citibank, N.A.

 Dated: October 15, 2018 

  
 5 

 Exhibit A 

FORM OF 
 CITISERIES 

3.96% CLASS 2018-A7 NOTES OF OCTOBER 2028 

(Legal Maturity Date October 2030) 
  

			
	 $500,000,000
	  	REGISTERED
	 CUSIP No. 17305E GS8
	  	No. R- [1][2]

 UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION (“DTC”), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE
OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE
REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 THE PRINCIPAL OF THIS NOTE IS PAYABLE AS SET FORTH HEREIN AND IN THE
INDENTURE REFERRED TO BELOW. ACCORDINGLY, THE OUTSTANDING PRINCIPAL AMOUNT OF THIS NOTE AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF. 

CITIBANK CREDIT CARD ISSUANCE TRUST 

CITISERIES 
 3.96% CLASS 2018-A7 NOTES OF OCTOBER 2028 
 (Legal Maturity Date October 2030) 

CITIBANK CREDIT CARD ISSUANCE TRUST, a trust formed and existing under the laws of the State of Delaware (including any successor, the “Issuer”),
for value received, hereby promises to pay to CEDE & CO., or its registered assigns, the principal amount of FIVE HUNDRED MILLION DOLLARS ($500,000,000). The Expected Principal Payment Date for this Note is October 13, 2028. The Legal
Maturity Date for this Note is October 15, 2030. 
 The Issuer hereby promises to pay interest on this Note on the 13th day of each April and October,
beginning April 2019, until the principal of this Note is paid or made available for payment, subject to certain limitations set forth in the Indenture. Interest will accrue on the outstanding principal amount of this Note for each interest period
in an amount equal to the product of (i) the number of days in the interest period computed on the basis of a 360-day year of twelve 30-day months, (ii) a rate
per annum equal to the Class 2018-A7 Note Rate for such 

 
interest period, and (iii) the outstanding principal amount of this Note as of the preceding Interest Payment Date (after giving effect to any payments of principal made on the preceding
Interest Payment Date) or, with respect to the first Interest Payment Date, the initial principal amount of this Note. The Class 2018-A7 Note Rate will be determined as provided in the Indenture. 

If any Interest Payment Date or Principal Payment Date of this Note falls on a day that is not a Business Day, the required payment of interest or principal
will be made on the following Business Day. 
 This Note is one of the Citiseries, Class 2018-A7 Notes issued
pursuant to the Second Amended and Restated Indenture dated as of September 26, 2000, as amended and restated as of August 9, 2011, and as further amended and restated as of November 10, 2016 (as so further amended and restated and
otherwise modified from time to time, the “Indenture”), between the Issuer and Deutsche Bank Trust Company Americas, as Trustee. For purposes of this Note, the term “Indenture” includes any supplemental indenture or Issuer
Certificate relating to the Citiseries, Class 2018-A7 Notes. This Note is subject to all of the terms of the Indenture. All terms used in this Note that are not otherwise defined herein and that are
defined in the Indenture will have the meanings assigned to them therein. 
 The principal of and interest on this Note are payable in such coin or currency
of the United States of America as at the time of payment is legal tender for payment of public and private debts. 
 Reference is made to the further
provisions of this Note set forth on the reverse hereof, which will have the same effect as though fully set forth on the face of this Note. 
 Unless the
certificate of authentication hereon has been executed by the Trustee whose name appears below by manual signature, this Note will not be entitled to any benefit under the Indenture, or be valid or obligatory for any purpose. 

 IN WITNESS WHEREOF, the Issuer has caused this instrument to be signed, manually or in facsimile, by an
Issuer Authorized Officer. 
  

					
	CITIBANK CREDIT CARD ISSUANCE TRUST
		
	By:  	 	 CITIBANK, N.A.,
 as
Managing Beneficiary of
 Citibank Credit Card Issuance Trust

	
	
			
		 	By: 	 	 
		 		 	Bennett L. Kyte
		 		 	Vice President

 Dated: October 15, 2018 

TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Notes designated above and referred to in the within mentioned Indenture. 

 

			
	DEUTSCHE BANK TRUST COMPANY AMERICAS,
	as Trustee under the Indenture
		
	By:	 	 
		 	Authorized Signatory

 Dated: October 15, 2018 

 REVERSE OF NOTE 

This Note is one of a duly authorized issue of Notes of the Issuer, designated as its Citiseries 3.96%
Class 2018-A7 Notes of October 2028 (Legal Maturity Date October 2030) (herein called the “Notes”), all issued under an Indenture, to which Indenture reference is hereby made for a statement of
the respective rights and obligations thereunder of the Issuer, the Trustee and the Holders of the Notes. 
 This Note ranks pari passu with all other
Class A Notes of the same series, as set forth in the Indenture. This Note is secured to the extent, and by the collateral, described in the Indenture. 

The Issuer will pay interest on overdue interest as set forth in the Indenture to the extent lawful. 

Each Holder by acceptance of this Note, and each owner of a beneficial interest in this Note by acceptance of a beneficial interest in this Note, agrees that
no recourse may be taken, directly or indirectly, with respect to the obligations of the Issuer or the Trustee on the Notes, against the Issuer, the Issuer Trustee, Citibank, N.A., the Trustee or any affiliate, officer, employee or director of any
of them, and the obligation of the Issuer to pay principal of or interest on this Note or any other amount payable to the Holder of this Note will be subject to Article V of the Indenture. 

Each Holder by acceptance of this Note, and each owner of a beneficial interest in this Note by acceptance of a beneficial interest in this Note, in each case
other than Citibank, N.A. as Holder or owner, agrees that this Note is intended to be debt of Citibank, N.A. for federal, state and local income and franchise tax purposes, and agrees to treat this Note accordingly for all such purposes, unless
otherwise required by a taxing authority. 
 Each Holder by acceptance of this Note, and each owner of a beneficial interest in this Note by acceptance of a
beneficial interest in this Note, agrees that it will not at any time institute against the Issuer, or join in any institution against the Issuer of, any bankruptcy, reorganization, arrangement, insolvency or liquidation proceeding, or other
proceedings under any United States federal or state bankruptcy or similar law in connection with any obligations relating to this Note, the Indenture or any Derivative Agreement. 

This Note and the Indenture will be construed in accordance with and governed by the laws of the State of New York. 

Certain amendments may be made to the Indenture without the consent of the Holder of this Note. This Note must be surrendered for final payment of principal
and interest. 

 ASSIGNMENT 

Social Security or taxpayer I.D. or other identifying number of assignee:_________________________________________________ 

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto 

 
  

 
  

(name and address of assignee) 
 the within Note
and all rights thereunder, and hereby irrevocably constitutes and appoints                             
                                         

                             
                        , attorney, to transfer said Note on the books kept for registration thereof, with full power of substitution in the
premises. 
  

					
	Dated: ___________	  		  	_________________________*
		  		  	Signature Guaranteed:

  
  

	*	 NOTE: The signature to this assignment must correspond with the name of the registered owner as it appears on
the face of the within Note in every particular without alteration, enlargement or any change whatsoever.

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