Document:

EX-10.2

 Exhibit 10.2 

PROMISSORY NOTE NO. 1 

(Term Loan) 
  

			
	 $3,684,000.00
	  	June 21, 2016

 FOR VALUE RECEIVED, UTSI FINANCE, INC., a Michigan corporation (“Borrower”)
having the address of 12755 E. Nine Mile Road, Warren, Michigan, 48089, promise(s) to pay to the order of FLAGSTAR BANK, F.S.B., a federally chartered savings bank (together with its successors and assigns, “Bank”), or to
order, on or before June 30, 2026 (“Term Loan Maturity Date”), the principal amount not to exceed Three Million Six Hundred Eighty Four Thousand and No/100 Dollars ($3,684,000.00), together with interest on the unpaid
principal amount hereof until paid at the rates per annum set forth below (“Term Loan”). 
 The Loan Agreement 

This Term Note (this “Note”) is one (1) of ten (10) Notes described in that certain Loan and Financing
Agreement of even date between Bank and the Borrower (as amended, restated or otherwise superseded from time to time, the “Loan Agreement”). Capitalized terms used but not otherwise defined in this Note have the meanings
given them in the Loan Agreement. This Note is issued pursuant to the Loan Agreement. This Note is secured by a Commercial Mortgage against property commonly known as 4440 Wyoming, Dearborn, Michigan. 

Interest 
 While no Event of
Default exists, amounts outstanding under this Note will (except to the extent specifically provided to the contrary) bear interest at a rate per annum equal to the sum of (a) LIBOR plus (b) two and one-quarter percent (2.25%). 

The following terms shall have the respective meanings attributed to them: 

“Base Rate” means, as determined for any day, a variable rate of interest equal to one percent (1%) per annum
less than the greater of (a) the Federal Funds Rate plus 1/2 of 1% and (b) the Prime Rate for such day. 

“Federal Funds Rate” means, for any day, the rate per annum equal to the weighted average of the rates on overnight
federal funds transactions with members of the Federal Reserve System arranged by federal funds brokers on such day, as published by the Federal Reserve Bank of New York on the Business Day next succeeding such day. 

“Interest Period” means (i) the period beginning the day principal is first advanced under this Note to, but
excluding, the first Payment Date, and (ii) each subsequent period commencing on (and including) the last day of the preceding Interest Period and ending on (but excluding) the next Payment Date; provided that in no event shall any Interest
Period extend beyond the Term Loan Maturity Date. 
 “LIBOR” means, with respect to any Interest Period, the
interest rate per annum determined by Bank by dividing (i) the rate that appears as the one (1) month ICE Benchmark Administration LIBOR Rate for United States Dollar deposits (as quoted by Bloomberg Finance L.P.) offered by leading banks
in the London interbank deposit market at approximately 11:00 a.m. London time, two (2) Business Days prior to the first day of such Interest Period (or, if for any reason, such source for rate information no longer exists, a comparable
replacement rate determined by Bank at such time), by (ii) a number equal to 1.00 minus the LIBOR Reserve Percentage. 

 “LIBOR Reserve Percentage” means the maximum effective percentage in
effect on such day as prescribed by the Board of Governors of the Federal Reserve System (or any successor) for determining the reserve requirements (including, without limitation, supplemental, marginal, and emergency reserve requirements) with
respect to eurocurrency funding (currently referred to as “Eurocurrency liabilities”). 
 “Payment Date”
means the 1st day of each month. 
 “Prime Rate” means, for any day, the variable per annum rate of interest so
designated from time to time by Bank as its “prime rate.” The Borrower acknowledges that the Prime Rate is a reference rate and does not necessarily represent the lowest or best rate being charged to any customer of Bank and that changes
in the rate of interest applicable to this Note resulting from changes in the Prime Rate shall take place immediately without notice or demand of any kind. 

The following provisions shall also apply to the principal from time to time evidenced by this Note: 

(a) Except as specifically provided to the contrary in this Note, the entire principal balance shall be carried in consecutive Interest
Periods, each of one-month duration and commencing on the expiration of each preceding Interest Period; 
 (b) LIBOR may be deemed by Bank
(in Bank’s sole reasonable discretion) to be unavailable if a Default or Event of Default occurs or if Bank reasonably determines that (i) no adequate basis exists for determining LIBOR, (ii) adverse or unusual conditions in or
changes in applicable law or the London interbank eurodollar market make it illegal or, in the reasonable judgment of Bank, impossible to fund loans at LIBOR or make LIBOR unreflective of the actual costs of funds to Bank, or (iii) it has
become unlawful for Bank to charge interest on Loans by reference to LIBOR; and 
 (c) If LIBOR is deemed by Bank to be unavailable, then
Bank shall so notify the Borrower, and all LIBOR Loans (as defined below) shall immediately and automatically begin bearing interest at the Base Rate (and shall continue to do so until LIBOR is reasonably deemed available by Bank). 

Interest Computations 
 Interest
due with respect to this Note shall be computed on the basis of a year of 360 days and paid for the actual number of days elapsed. If the due date for any payment required under this Note is extended by operation of law, interest shall be payable
for such extended time. If any payment required under this Note is due on a day that is not a Business Day, such payment may be made on the next succeeding Business Day (with interest continuing to accrue until paid), unless such extension would
carry such date for payment into the next month, in which event such payment shall be made on the preceding Business Day. 
 Principal and Interest
Payments 
 The Borrower shall repay the outstanding principal balance of this Note in consecutive monthly installments of principal
each in the amount of Thirty Thousand Seven Hundred and 00/100 Dollars ($30,700.00), with such installments due on each Payment Date. Together with each installment of principal, Borrower shall also pay all accrued interest. On the Term Loan
Maturity Date, the Borrower 

  
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shall repay all Obligations then outstanding with respect to the Term Loan, including, without limitation, the outstanding principal balance of this Note, all interest accrued thereon, prepayment
fees, charges and premiums, and all costs and expenses payable to Bank. 
 The Borrower may prepay this Note in whole or in part at any
time, without premium or additional charge, except as set forth in this Note. Amounts so prepaid may not be borrowed or reborrowed, and the Term Loan shall be permanently reduced by the amount so prepaid. 

Prepayment; Yield Maintenance and Breakage 

Except for any obligations under a Swap, if any, so long as interest is accruing at a LIBOR-based rate (“LIBOR Loan”),
the Borrower may prepay only upon at least three (3) Business Days’ prior written notice to Bank (which notice shall be irrevocable), and the Borrower shall pay the applicable Yield Maintenance Fee (if any) to Bank and any actual breakage
costs incurred by Bank, upon request of Bank, in connection with the payment of a LIBOR Loan on a date other than the last day of the Interest Period for such LIBOR Loan. As used herein, “Yield Maintenance Fee” means an
amount computed as follows in connection with prepayment of LIBOR Loans: the current rate for United States Treasury securities (bills on a discounted basis shall be converted to a bond equivalent) with a maturity date closest to the last day of the
Interest Period applicable to the LIBOR Loan as to which the prepayment is made shall be subtracted from the LIBOR in effect at the time of prepayment. If the result is zero or a negative number, there shall be no Yield Maintenance Fee. If the
result is a positive number, then the resulting percentage shall be multiplied by the amount of the principal balance being prepaid. The resulting amount shall be divided by 360 and multiplied by the number of days remaining in the applicable
Interest Period. The resulting amount shall be the Yield Maintenance Fee, which shall be due and payable upon the prepayment of a LIBOR Loan. If by reason of an Event of Default, Bank elects to declare the Obligations under this Note to be
immediately due and payable, then a Yield Maintenance Fee with respect to then outstanding LIBOR Loans shall be due and payable. The Borrower acknowledges that Bank will incur substantial additional costs and expenses, including loss of yield and
anticipated profitability, in the event of prepayment of a LIBOR Loan and that the Yield Maintenance Fee compensates Bank for such costs and expenses and is bargained for consideration and not a penalty. 

Swap Transaction Obligations 
 In
connection with the loan evidenced by this Note, the Borrower and Bank have entered into Swap Transaction Documents (defined in the Loan Agreement). Any prepayment, including the application of proceeds of Collateral, of principal of this Note
(whether voluntary or involuntary) that, when added to the principal of all other Notes results in the remaining principal balance of the Notes, in the aggregate, being less than the then remaining notional principal amount of the Swap (defined in
the Loan Agreement) allocable thereto (i) will require equivalent reductions in the notional amount of the Swap under the Swap Transaction Documents and (ii) in connection therewith, the Borrower will be required to pay, under the Swap
Transaction Documents, assessments, losses, fees, and charges described therein. 
 “Swap” means one
or more agreements between the Borrower and Bank with respect to any interest rate swap, forward, future, or derivative transaction or option or similar agreement involving, or settled by reference to, one or more interest rates, currencies,
commodities, equity or debt instruments or securities, or economic financial or pricing indices, or measures of economic, financial, or pricing risk of value. 

“Swap Transaction Documents” means: any and all documents related to any Swap by and between the
Borrower and Bank, including but not limited to an International Swap Dealers Association 

  
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Master Agreement, the Schedule to the Master Agreement, any Credit Support Annexes, any Swap Trade Confirmation, risk disclosure statement, eligible contract participant verification form, and
all such other related documents as Bank may require. 
 Acceleration; Default Interest and Late Charges 

Upon the occurrence of an Event of Default, (a) Bank may declare the aggregate unpaid balance of principal of this Note, plus all accrued
interest and all other unpaid Obligations, to be immediately due and payable, and (b) all Obligations evidenced by this Note shall bear interest at the Default Rate. In addition, if any payment required under this Note is not paid in full
within ten days after its due date, the Borrower shall pay to Bank, on demand, a late payment charge equal to three percent (3%) of the overdue payment. The provisions of this Section, and Borrower’s liability and responsibility under this
Note and with respect to other Obligations, and Bank’s rights with respect thereto, are expressly subject to the provisions of Section 15 of the Loan Agreement. 

Application of Payments 
 Any
payments received by Bank with respect to this Note prior to the occurrence of an Event of Default shall be applied first to any costs, expenses, fees, or prepayment premiums due to Bank, second to any accrued interest, and third to the unpaid
principal. Any payments received after the occurrence of an Event of Default shall be applied to the Obligations in such a manner as Bank shall determine. 

Place for Payments 
 All payments
under this Note shall be made at the office of Bank at the address set forth on the signature page of this Note (or at such other place as Bank may designate from time to time in writing) in lawful money of the United States of America, in federal
or other immediately available funds. 
 Waivers by the Borrower 

The Borrower waives presentment, demand, notice of dishonor, protest, and all other demands and notices (except as provided in or required by
the Loan Agreement or other Loan Documents) in connection with the delivery, acceptance, performance, and enforcement of this Note. The Borrower’s liability under this Note shall remain unimpaired, notwithstanding (i) any extension of the
time for payment or other indulgence granted by Bank, (ii) the release of all or any part of the security granted to Bank, or (iii) the liability (or release of liability) of any party that may assume or otherwise be liable for the payment
of the indebtedness evidenced by this Note or the performance of the Obligations of the Borrower under any of the other Loan Documents. 
 Business
Purposes 
 The Borrower represents to Bank that the proceeds of this Note will be used solely for business purposes and shall not be
used for personal, family, or household purposes. 
 Note as Loan Document 

This Note constitutes a Loan Document as defined in the Loan Agreement and shall be governed by the provisions of the Loan Agreement pertaining
to setoff, governing law, and jurisdiction and forum. 

  
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 WAIVER OF JURY TRIAL, SERVICE OF PROCESS AND DAMAGES 

THE BORROWER AND, BY ITS ACCEPTANCE
OF THIS NOTE, BANK EACH KNOWINGLY, VOLUNTARILY, AND INTENTIONALLY WAIVES THE
RIGHT TO A TRIAL BY JURY WITH RESPECT TO ANY CLAIM ARISING
OUT OF, UNDER, OR IN CONNECTION WITH THIS NOTE OR ANY COURSE
OF CONDUCT, COURSE OF DEALINGS, STATEMENTS (WHETHER ORAL OR WRITTEN), OR
ACTIONS OF THE BORROWER OR BANK, INCLUDING, WITHOUT LIMITATION, BANK’S
ADMINISTRATION OF THE TERM LOAN OR ENFORCEMENT OF THIS NOTE OR THE
OTHER LOAN DOCUMENTS. THE BORROWER AGREES IT SHALL NOT SEEK TO
CONSOLIDATE ANY SUCH ACTION WITH ANY OTHER ACTION IN WHICH A JURY
CANNOT BE WAIVED OR HAS NOT BEEN WAIVED. 

IN ANY ACTION OR PROCEEDINGS ARISING
OUT OF, OR RELATING TO, THIS NOTE, THE BORROWER ABSOLUTELY AND
IRREVOCABLY WAIVES PERSONAL SERVICE OF ANY SUMMONS, COMPLAINT, DECLARATION, OR OTHER
PROCESS AND ABSOLUTELY AND IRREVOCABLY AGREES THAT SERVICE OF PROCESS MAY
BE MADE IN THE MANNER (AND TO THE ADDRESS FOR NOTICES TO
THE BORROWER) SPECIFIED IN THE LOAN AGREEMENT. 

THE BORROWER CERTIFIES THAT NO REPRESENTATIVE,
AGENT, OR ATTORNEY OF BANK HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT
BANK WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE
FOREGOING WAIVERS AND AGREEMENTS, EACH OF WHICH CONSTITUTES A MATERIAL INDUCEMENT
FOR BANK TO ACCEPT THIS NOTE AND TO MAKE THE TERM LOAN. 

[Remainder of Page Intentionally Left Blank; Signature Page Follows] 

  
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 IN WITNESS WHEREOF, the Borrower has executed this Note as of the date first above written. 

 

			
	BORROWER:
	
	UTSI FINANCE, INC., a Michigan corporation
		
	By:	 	 /s/ Violeta V. Golematis

		 	Violeta V. Golematis
		 	Its: Treasurer

 Address for Payments: 

Flagstar Bank, FSB 
 Commercial Loan Operations 

5151 Corporate Drive 
 Mail Stop E-203-3 

Troy, Michigan 48098 

  
 - 6 -EX-10.3

 Exhibit 10.3 

Loan No.                      

COMMERCIAL MORTGAGE 
 THIS
IS A FUTURE ADVANCE MORTGAGE 
 THIS COMMERCIAL MORTGAGE (“Mortgage”) is made on June 21, 2016, by and between the Grantor,
as herein defined, and FLAGSTAR BANK, FSB, a federally chartered savings bank (together with its successors and/or assigns, “Bank”), whose address is 5151 Corporate Drive, Troy, Michigan 48098. 

IN CONSIDERATION of loans, advances or other financial accommodations from the Bank to the Grantor and/or the Borrower, Grantor does hereby
covenant, promise and agree to and with the Bank, which covenants, promises and agreements shall, to the extent permitted by law, be deemed to run with the land, as follows: 

1. Definitions. The following terms shall have the following meanings when used in this Mortgage. All capitalized terms
not otherwise defined herein shall have the meaning ascribed to them in the Loan Agreement (as defined below). 
 a.
“Borrower” means Grantor. 
 b. “Grantor” means UTSI Finance, Inc., a Michigan corporation, whose address
is 12755 E. Nine Mile Road, Warren, Michigan 48089 and its permitted successors and assigns. 
 c. “Lease(s)” means
any and all agreements (written or oral) to which Borrower is a party or has any interest therein, demising any part of the Property, or pursuant to which any Person occupies any portion of the Property, now or hereafter existing, including all
rights of Borrower thereunder, and all rights to rents, profits, Income and other sums due thereunder, and all guaranties thereof by any other Person.  

d. “Secured Liabilities” means all liabilities and obligations of any and every kind and nature heretofore, now or
hereafter owing from the Borrower to the Bank, under the Note, the Swap Obligations (to the extent allocable to the Note) and this Mortgage, plus all interest, costs, expenses and reasonable attorney fees which may be made or incurred by the Bank in
the disbursement, administration or collection of such liabilities and obligations and in the protection, maintenance and liquidation of the Property and the performance of the covenants and conditions of this Mortgage, and ANY FUTURE ADVANCES,
WITH INTEREST THEREON, made by the Bank to or for the benefit of Grantor and/or the Borrower and/or with respect to the Property, all of which are secured by this Mortgage pursuant to the provisions hereof. The term “Secured
Liabilities” does not include, and this Mortgage does not secure, any other amounts due with respect to the Loan (evidenced by the other Notes dated of even date herewith or otherwise).  

e. “Loan” means the Loan extended under the Loan Agreement and currently due on June 30, 2026, of which the
amount evidenced by the Note is a part. 

 f. “Loan Agreement” means the Loan and Financing Agreement by and among
Bank and Borrower dated of even date herewith, and all amendments, modifications, extensions, and/or restatements thereof, from time to time. 

g. “Note” means Promissory Note No. 1 (Term Loan), in the amount of Three Million Six Hundred
Eighty-Four Thousand and No/100 Dollars ($3,684,000.00), as may be amended, modified, extended and/or restated, from time to time, which is one (1) of ten (10) Notes (as defined in the Loan Agreement) evidencing the Loan. 

h. “Property” means all the estate, title, and interest and rights of Grantor in the real property situated in the
City of Dearborn, Wayne County, Michigan commonly known as 4440 Wyoming, together with all easements, rights, privileges, appurtenances, tenements and hereditaments thereunder belonging and which may hereafter attach thereto and all heretofore or
hereafter vacated alleys and streets abutting thereto, described in Exhibit “A” attached hereto (“Real Estate”) together with the following: 

All buildings, structures, replacements, furnishings, fixtures, fittings and other improvements and property of every kind and character now or
hereafter located or erected on the Real Estate and owned or purported to be owned by Grantor, together with all building or construction materials, equipment, appliances, machinery, fittings, apparatus, fixtures and other articles of any kind or
nature whatsoever now or hereafter found on, affixed to or attached to the Real Estate and owned or purported to be owned by Grantor, including, without limitation, all trees, shrubs and landscaping materials, reels, and all heating, venting,
electrical, lighting, power, plumbing, air conditioning, refrigeration and ventilation equipment (all of the foregoing are herein referred to collectively as the “Improvements”); 

and 
 All furniture, furnishings,
equipment (including, without limitation, telephone and other communications equipment, office and record keeping equipment, window cleaning, building cleaning, signs, monitoring, garbage, air conditioning, computers, point of sale devices,
drive-through equipment and other equipment), inventory and goods and all other tangible property of any kind or character now or hereafter owned or purported to be owned by Grantor and used or useful in connection with the Real Estate and located
on the Real Estate including, without limitation, all rights of Grantor under any lease to equipment, furniture, furnishings, fixtures and other items of personal property located on the Real Estate at any time during the term of such lease; 

and 
 All option rights, purchase
contracts, condemnation claims, demands, awards and settlement payments, insurance contracts, insurance payments and proceeds, unearned insurance premiums, warranties, guaranties, utility deposits of Grantor relating to the Real Estate or the
Improvements and all accounts, contract rights, 

  
 2 

 
instruments, chattel paper and other rights of Grantor for payment of money to it for property sold or lent by it, for services rendered by it, for money lent by it, or for advances or deposits
made by it related to the Real Estate or the Improvements; 
 and 

All rents, security or similar deposits, issues, profits, revenue, royalties, earnings, products, proceeds , income and other benefits owned
and/or derived, by Grantor from the Real Estate or the Improvements; 
 and 

All rights of Grantor under all leases, licenses, occupancy agreements, concessions or other arrangements, whether written or oral, whether now
existing or entered into at any time hereafter, whereby any Person agrees to pay money to Grantor or any consideration for the use, possession or occupancy of, or any estate in, the Real Estate or the Improvements or any part thereof, and all rents,
income, profits, benefits, avails, advantages and claims against guarantors under any of the foregoing; 
 and 

All rights of Grantor, if any, to all plans and specifications, designs, drawings and other matters prepared in connection with the Real Estate
or the Improvements; 
 and 
 All
rights of Grantor under any contracts executed by Grantor with any provider of goods or services for or in connection with any construction undertaken on, or services performed or to be performed in connection with, the Real Estate or the
Improvements, including, without limitation, any architect’s contracts, construction contracts and management contracts; 
 and 

All rights of Grantor as seller or borrower under any agreement, contract, understanding or arrangement pursuant to which Grantor has, with the
prior written consent of Bank, obtained the agreement of any Person to pay or disburse any money for Grantor’s sale (or borrowing on the security) of the Collateral or any part thereof; 

and 
 All rights of Grantor in any
licenses, permits, registrations, permissions, approvals, consents and other authorizations in connection with the Real Estate or the Improvements; 

  
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 and 

All other property or rights of Grantor of any kind or character related to the Real Estate or the Improvements, all substitutions,
replacements and additions thereto, whether now existing or hereafter acquired, and all proceeds (including, without limitation, insurance and condemnation proceeds) and products of any of the foregoing. 

Together with: 
 All proceeds
(whether cash proceeds or noncash proceeds) of the foregoing property, including without limitation proceeds of insurance payable by reason of loss or damage to the foregoing property and of eminent domain or condemnation awards. 

All products of, additions and accessions to, and substitutions, betterments and replacements for the foregoing property. 

2. Grant of Mortgage. Grantor does hereby MORTGAGE and WARRANT to the Bank and its successors and assigns forever the
Property and grants to the Bank and its successors and assigns a continuing security interest in the Property to secure the timely repayment and performance of the Secured Liabilities, to have and to hold the Property, with all of the tenements,
hereditaments, easements, appurtenances and other rights and privileges thereunto belonging or in any manner now or hereafter appertaining thereto, for the use and benefit of the Bank upon the conditions hereinafter set forth.  

3. Future Advances. Upon request of Grantor, the Bank at the Bank’s option prior to release of this Mortgage, may
enter into additional credit facilities, including additional Secured Liabilities, accept any Note, and/or make future advances to or for the benefit of Grantor and all of the foregoing, with interest thereon, may be secured by this Mortgage if
Grantor expressly so agrees in writing. 
 4. Covenant to Pay Secured Liabilities. Grantor shall promptly pay
and perform all Secured Liabilities for which it is liable or obligated in accordance with the terms thereof. Grantor acknowledges and agrees that this Mortgage shall not be extinguished and the priority of this Mortgage shall not be altered in any
way until a Mortgage discharge has been executed by the Bank and recorded in the proper county, which shall be recorded when the Secured Liabilities have been paid in full. 

5. Covenant of Title. At the time of the execution and delivery of this Mortgage, Grantor is, and will be, the owner of
the Property in fee simple, free of all easements, liens (except as set forth in the Loan Agreement and except for liens that are validly subordinated to the lien of the Bank by written instrument in form and substance satisfactory to Bank in its
sole and absolute discretion) and encumbrances whatever (other than those easements of record as of the date hereof, the rights of the public in any part of the Property used or taken for road purposes and any other mortgages, liens or encumbrances
to which the Bank has consented in writing), and will forever warrant and defend the same against any and all other claims whatever except as provided herein, and the lien created hereby is and will be kept as a valid lien upon the Property and
every part thereof, subject only to the foregoing exceptions. 

  
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 6. Maintenance of Property. Grantor shall at all times preserve and maintain the
Property in good repair, working order and condition and shall make all necessary improvements and repairs so the value and efficiency of the Property is at all times maintained and Bank’s security is not impaired. Bank shall have the right to
enter upon and inspect the Property at all reasonable times, but not more than once in any twelve (12) month period, and if, upon inspection of the Property, Bank reasonably determines the Property or any part thereof requires repair,
maintenance, or care of any kind which the Grantor, after notice from Bank, fails to perform within the Cure Period for a Non-Monetary Event of Default, Bank may declare the same to be a Matured Event of Default and may, at Bank’s option, by
its agent, enter, repair and care for the Property, paying such amount therefor as the Bank deems reasonably appropriate, and all costs incurred by Bank shall be added to the Secured Liabilities secured by this Mortgage. 

7. Payment of Taxes, Liens and Insurance. Grantor shall pay before delinquency all taxes, assessments, and governmental charges
levied upon the Property and all claims, liens, encumbrances, levies, judgments and charges which are at any time levied, recorded, placed upon, or assessed against the Property, and shall promptly deliver to Bank receipts, upon Bank’s written
request, evidencing such payment; provided, however, that Grantor will not be required to pay any tax, assessment, governmental charge, claim, lien, encumbrance, levy, judgment or charge if Grantor is in good faith contesting the validity thereof
and has provided a reserve for payment of the entire amount of any such contested tax, assessment, governmental charge, claim, lien, encumbrance, levy, judgment or charge on its financial statements. 

8. Insurance. Until the Secured Liabilities are fully satisfied, Grantor will keep the Property continuously insured
against loss by fire, windstorm and other hazards, casualties and contingencies, including vandalism and malicious mischief, in such amounts, for such periods, and by policies issued by such insurers, as required by the Loan Agreement. Grantor shall
pay promptly when due all premiums for such insurance and deliver to the Bank, upon request, receipts showing such payment. All insurance shall be carried in companies approved by the Bank and shall have attached thereto a mortgagee and loss payee
clause(s) acceptable to the Bank, making all loss or losses under such policies payable to the Bank, its successors and assigns, as its or their interest may appear. In the event of loss or damage to the Property, Grantor shall give immediate notice
in writing by mail to the Bank, who may make proof of loss if not made promptly by Grantor. In the event of any inconsistency, the provisions of the Loan Agreement shall control. 

In the event the amount of the loss is an amount equal to Two Hundred Thousand Dollars ($200,000.00) or less, the insurance proceeds shall be
released to the Grantor, upon request by the Grantor. Grantor shall be obligated to use such proceeds to restore or repair the Property unless the Bank otherwise specifies in writing. 

In the event the amount of the loss is greater than an amount equal to Two Hundred Thousand Dollars ($200,000.00) each insurance company
concerned is hereby authorized and directed upon request by the Bank, to make payment for such loss, to the extent of the Secured 

  
 5 

 
Liabilities, directly to the Bank instead of to Grantor and the Bank jointly and in such event, provided no Event of Default hereunder then exists nor any event which with notice or the passage
of time or both would become an Event of Default hereunder and further provided that the Bank shall reasonably determine that sufficient funds are available from insurance proceeds and any funds to be provided by Grantor to repair or restore the
Property within a reasonable time (and in all events at least six months prior to the Due Date of the Note) and that such repair or restoration is economically feasible (economically feasible means that after giving effect to the use of proceeds,
the principal amount of the Secured Liabilities (drawn and undrawn) is not more than 75% of the appraised value of the Property as reasonably determined by Bank, the Bank agrees, upon request by the Grantor, to apply the insurance proceeds to repair
or restore the Property, after reimbursement of all costs and expenses of the Bank in collecting such proceeds, subject to the following terms and conditions: 

a. The Bank shall retain all insurance proceeds in a non-interest bearing escrow account to be disbursed to pay the costs of repair or
restoration in accordance with procedures reasonably established by the Bank, and 
 b. All plans and specifications for repair or
restoration shall be subject to Bank Approval prior to the commencement of any repair or restoration or the improvements may be constructed to the same specifications as previously existed, and 

c. All repair or restoration shall be done by or under the direction of Grantor, shall be in accordance with the approved plans and
specifications, shall be in a workmanlike manner free from all defects, shall be in compliance with all statutes, ordinances, rules and regulations applicable thereto and shall be completed free of all construction liens except those being contested
in good faith by appropriate proceedings, and 
 d. The Bank shall have the right, at Grantor’s expense, to inspect all repairs and
restoration and, if the Bank reasonably determines that any work or materials are not in conformity with the approved plans and specifications, the Bank’s standard construction loan practices and procedures, or other requirements of
sub-paragraph (c) above, to stop the work and order replacement or correction thereof by Grantor, and 
 e. The Bank shall not be
obligated to make disbursements more frequently than monthly and the remaining undisbursed proceeds shall always be sufficient to meet the total estimated remaining costs to complete the repair or restoration and any shortfall, from time to time,
shall be provided to Bank in cash by Borrower, and 
 f. All insurance proceeds in excess of the amounts necessary to repair or restore the
Property shall be released to Grantor if all of the provisions of this Section are satisfactory and the restoration has been substantially completed (subject to punchlist items), and 

g. The Property and the use thereof after the restoration will be in compliance with and permitted under all applicable zoning laws,
ordinance, rules and regulations, and 

  
 6 

 h. The restoration shall be done and completed by the Grantor in an expeditious and diligent
fashion and in compliance with all applicable laws, including without limitation, all applicable Environmental Laws and/or Applicable laws, and 

i. Such fire or other casualty, as applicable, does not result in the loss of access to the Property or to the improvements located thereon,
and 
 j. Bank shall determine there has been no material adverse effect upon either: 

(i) the ability of Grantor to make payments on or to satisfy, the Note, when due; or 

(ii) the value of the Property (after giving effect to the restoration). 

In the event all of the conditions to the use of the insurance proceeds to repair or restore the Property which are outlined above are not
satisfied, the Bank, at its option, may apply the insurance proceeds or any part thereof, first, toward reimbursement of all costs and expenses of the Bank in collecting such proceeds, and then, to the Secured Liabilities (without any penalty for
prepayment), to fulfill any other covenant herein or any other obligation of Grantor to the Bank, or to the restoration or repair of the Property. Application by the Bank of any insurance proceeds to the Secured Liabilities shall not excuse, extend
or reduce the regularly scheduled payments due thereunder. In the event of foreclosure of this Mortgage or other transfer of title to the Property in extinguishment of the Secured Liabilities, all right, title and interest of Grantor in and to any
insurance policies then in force shall pass to the purchaser or grantee and Grantor hereby appoints the Bank its attorney-in-fact, in Grantor’s name, to assign and transfer all such policies and proceeds to such purchaser or grantee. 

If at any time the Property is identified by the Director of the Federal Emergency Management Agency or any other person or entity designated
with such responsibility under the National Flood Insurance Act of 1968, Flood Disaster Protection Act of 1973 and the National Flood Insurance Reform Act of 1994, all as amended (collectively called the “Flood Act”), as being located in a
flood hazard area, Grantor shall keep the Property covered by flood insurance in such amount as is required by Bank and in at least the amount required by the Flood Act and all regulations issued thereunder. 

9. Eminent Domain. In the event the entire Property is taken under the power of eminent domain, the entire award or
payment in lieu of condemnation, to the full extent of the Secured Liabilities, shall be paid to the Bank (unless Borrower provides to Seller substitute collateral with Bank Approval in the manner contemplated by Section 5.2 of the Loan
Agreement). The Bank shall apply such award or payment, first, toward reimbursement of all of the Bank’s costs and expenses incurred in connection with collecting such award or payment, and then, at the Bank’s option, to the Secured
Liabilities (without any penalty for prepayment), to fulfill any other covenant herein or to any other obligation of Grantor to the Bank. 

In the event of a partial taking of the Property which materially detrimentally impacts the usability of the Property for the purpose intended
under the power of eminent domain, the entire award or payment in lieu of condemnation, to the full extent of the Secured Liabilities, shall be 

  
 7 

 
paid over to the Bank and provided no Event of Default hereunder then exists, nor any event which with notice or the passage of time or both would become an Event of Default hereunder, and the
Bank shall reasonably determine that sufficient funds are available from the award or payment and any funds to be provided by Grantor to repair or restore the remaining portion of the Property within a reasonable time and that such repair or
restoration is economically feasible [economically feasible (as defined in Section 8 hereof)], in the reasonable business judgment of Bank, the Bank agrees, upon request by the Grantor, to apply the award or payment to repair or restore the
remaining portion of the Property, after reimbursement of all costs and expenses of the Bank in collecting the award or payment, subject to the following terms and conditions: 

a. The Bank shall retain the award or payment in a non-interest bearing escrow account to be disbursed to pay the costs of repair or
restoration in accordance with procedures reasonably established by the Bank. 
 b. All plans and specifications for repair or restoration
shall be subject to Bank Approval prior to the commencement of any repair or restoration or the improvements may be constructed to the same specifications as previously existed. 

c. All repair or restoration shall be done by or under the direction of Grantor, shall be in accordance with the approved plans and
specifications, shall be in a workmanlike manner free from all defects, shall be in compliance with all statutes, ordinances, rules and regulations applicable thereto and shall be completed free of all construction liens except those being contested
in good faith by appropriate proceedings and with respect to which Grantor shall have provided the Bank satisfactory security. 
 d. The
Bank shall have the right, at Grantor’s expense, to inspect all repairs and restoration and, if the Bank reasonably determines that any work or materials are not in conformity with the approved plans and specifications or other requirements of
sub-paragraph (c) above, to stop the work and order replacement or correction thereof by Grantor. 
 e. The Bank shall not be obligated
to make disbursements more frequently than monthly and the remaining undisbursed proceeds shall always be sufficient to meet the total estimated remaining costs to complete the repair or restoration. 

f. All proceeds of the award or payment in excess of the amounts necessary to repair or restore the Property may be applied, at the
Bank’s option, to the Secured Liabilities (without penalty for prepayment), to fulfill any other covenant herein or any other obligation of Grantor to the Bank, or released to Grantor. 

In the event all of the conditions to the use of the award or payment to repair or restore the Property which are outlined above are not
satisfied, the Bank, at its option, may apply the award or payment or any part thereof, first, toward reimbursement of all costs and expenses of the Bank in collecting such award or payment, and then, to the Secured Liabilities (without any penalty
for prepayment), to fulfill any other covenant herein or any other obligation of Grantor to the Bank, or to the restoration or repair of the Property. Application by the Bank of any condemnation award or payment or portion thereof to the Secured
Liabilities shall not excuse, extend or reduce the regularly scheduled payments due thereunder. 

  
 8 

 10. Removal of Improvements. Except for replacement, maintenance, and
relocation in the ordinary course of business or for tenant improvements made for tenants of the Property, or as previously disclosed to Bank by Grantor, Grantor shall not remove from the Property any improvement, accessions, fixtures, machinery, or
equipment pertaining to or forming a part of the Property without Bank Approval. All replacements shall be with improvements, fixtures, machinery and equipment of the same or better quality than those replaced. 

11. Bank’s Right to Make Expenditures. Should a Matured Event of Default occur hereunder as a result of
Grantor’s failure to pay any taxes or assessments or procure and maintain insurance or make necessary repairs to the Property to the extent required pursuant to the provisions of the Loan Documents, the Bank may pay such taxes and assessments,
effect such insurance and make such repairs, and the monies so paid by it shall be a further lien on the Property, payable forthwith, with interest at the Default Rate applicable to the Secured Liabilities as provided in the Loan Documents. The Bank
may make advances without curing the Matured Event of Default and without waiving the Bank’s right of foreclosure or any other right or remedy of the Bank under this Mortgage. The exercise of the right to make advances pursuant to this
paragraph shall be optional with the Bank and not obligatory and the Bank shall not be liable in any case for failure to exercise such right or for failure to continue exercising such right once having exercised it. 

12. Compliance with Law. Grantor will comply promptly with all laws, ordinances, regulations and orders of all public
authorities having jurisdiction over the Property relating to the use, occupancy and maintenance thereof, and shall upon request promptly submit to the Bank evidence of such compliance. Nothing herein shall be deemed to prohibit Grantor from
contesting the enforceability or applicability of any law, ordinance, regulation or order; provided, however, that the Bank, in its sole discretion, may require that Grantor comply with any such law, ordinance, regulation or order during the
pendency of any such contest and all appeals therefrom. Grantor will not permit the Property or any portion thereof to be used for any unlawful purpose. 

13. Environmental Warranties, Compliance, and Indemnification. Grantor agrees to at all times observe and promptly comply
with the provisions of the Environmental Certificate and Environmental Indemnity Agreement from Borrower to Bank of even date herewith. 

14. Assignment of Rents and Leases. As additional security for the Secured Liabilities and performance of the covenants
and agreements set forth herein, Grantor hereby assigns to the Bank, and grants Bank a security interest in, any oil and gas located in, on or under the Property (to the extent of Grantor’s interest therein), any and all Leases of the Property,
and all rents, issues, income and profits derived from the use of the Property or any portion thereof, whether due or to become due. These assignments shall run with the land and shall be good and valid against Grantor and all persons claiming by,
under, or through Grantor from the date of recording of this Mortgage and shall continue to be operative during foreclosure or any other proceedings taken to enforce this Mortgage. If any foreclosure sale results in a deficiency, the assignments
shall continue as security during the foreclosure redemption period, to the extent permitted under applicable law.  

  
 9 

 15. Assignment of Contracts and Agreements. Grantor hereby assigns to the
Bank, as further security for the Secured Liabilities, Grantor’s interest in all agreements, contracts (including contracts for the lease or sale of the Property or any portion thereof), licenses and permits affecting the Property. Such
assignment shall not be construed as a consent by the Bank to any agreement, contract, license, or permit so assigned, or to impose upon the Bank any obligations with respect thereto. Grantor shall not cancel or amend any of the agreements,
contracts, licenses and permits hereby assigned (nor permit any of the same to terminate if they are necessary or desirable for the operation of the Property), except in the ordinary course of business, without first obtaining, on each occasion, the
written approval of the Bank, which approval will not be unreasonably withheld, delayed or conditioned. This paragraph shall not be applicable to any agreement, contract, license or permit that terminates if it is assigned without the consent of any
party thereto (other than Grantor) or issuer thereof, unless such consent has been obtained or this assignment is ratified by such party or issuer; nor shall this paragraph be construed as a present assignment of any agreement, contract, license or
permit that Grantor is required by law to hold in order to operate the Property for the purposes intended. 
 16. Due on
Sale. The Bank in making the loan secured by this Mortgage is relying upon the integrity of Grantor and its undertaking to maintain the Property. If Grantor should (a) sell, transfer, convey or assign the Property, or any right, title
or interest therein, whether legal or equitable, whether voluntarily or involuntarily, by outright sale, deed, installment sale contract, land contract, contract for deed, leasehold interest (other than leases to tenants or any other method of
conveyance of real property interests; or (b) cause, permit or suffer any change in the current ownership or management of the Grantor which results in an Affiliate not Controlling Grantor, without paying the remaining balance of the Note, and
interest thereon, in full, or providing substitute collateral from the Non-Pledged Pool Property with Bank’s Approval, then, and in any such event, the Bank shall have the right at its sole option thereafter to declare all sums secured hereby
and then unpaid to be due and payable forthwith although the period limited for the payment thereof shall not then have expired, anything contained to the contrary hereinbefore notwithstanding, and thereupon to exercise all of its rights and
remedies under this Mortgage. If the ownership of the Property, or any part thereof, or Borrower becomes vested in a person other than the Grantor (with or without the Bank’s consent), the Bank may deal with such successor or successors in
interest with reference to this Mortgage, and the Secured Liabilities, in the same manner as with the Grantor, without in any manner vitiating, releasing or discharging the Grantor’s liability hereunder or upon the Secured Liabilities. No sale
of the Property and no forbearance or extensions by the Bank of the time for payment of the Secured Liabilities or the performance of the covenants and agreements herein provided shall in any way operate to release, discharge, modify, change or
affect the lien of this Mortgage or the liability of Grantor, if any, on the Secured Liabilities or for the performance hereof, either in whole or in part. 

17. Secondary Financing. Except for the loans, liens and obligations that are subordinated to Bank by written instrument
acceptable to Bank in its sole and absolute discretion and except for liens which are being diligently contested in good faith Grantor will not, without the prior written consent of the Bank, mortgage or pledge the Property or any part thereof as
security for any other loan or obligation of Grantor or suffer or permit any encumbrance or charge on the Property not allowed by this Mortgage or the Loan Agreement. If any such mortgage or pledge is entered into or encumbrance or charge exists
without the prior written consent of the Bank, the same shall be an Event of Default. Further, Grantor also shall pay any  

  
 10 

 
and all other obligations, liabilities or debts which may become liens, security interests, or encumbrances upon or charges against the Property for any repairs or improvements that are now or
may hereafter be made thereon, and shall not, without the Bank’s prior written consent, permit any lien, security interest, encumbrance or charge of any kind to accrue and remain outstanding against the Property or any part thereof, or any
improvements thereon, irrespective of whether such lien, security interest, encumbrance or charge is junior to the lien of this Mortgage, except as otherwise allowed by this Mortgage or the Loan Agreement. Notwithstanding the foregoing, if any
personal property by way of additions, replacements or substitutions is hereafter purchased and installed, affixed or placed by Grantor on the Property under a security agreement, the lien or title of which is superior to the lien created by this
Mortgage, all the right, title and interest of Grantor in and to any and all such personal property, together with the benefit of any deposits or payments made thereon by Grantor, shall nevertheless be and are hereby assigned to the Bank and are
covered by the lien of this Mortgage. 
 18. Waste. Except as allowed by this Mortgage or the Loan Agreement,
Grantor’s failure, refusal or neglect to pay any taxes or assessments levied against the Property or any insurance premiums due upon policies of insurance covering the Property will constitute waste under Applicable Law, and the Bank shall have
a right to appointment of a receiver of the Property and of the rents and income from the Property, with such powers as the Court making such appointment confers. Grantor hereby consents to such appointment in such event, and agrees that Bank’s
costs and expenses, including reasonable attorney fees, incurred in such proceeding shall be added to the Secured Liabilities. Payment by the Bank for and on behalf of Grantor of any delinquent taxes, assessments, or insurance premiums payable by
Grantor under the terms of this Mortgage will not cure the Event of Default herein described nor in any manner impair the Bank’s right to appointment of a receiver as set forth herein. 

19. Remedies Upon Default. The Bank may, in addition to and not in lieu of or substitution for, all other rights and
remedies provided by law: 
 a. Accelerate Secured Liabilities. If a Matured Event of Default exists, with
written notice to Grantor, declare the entire unpaid and outstanding principal balance of the Secured Liabilities, and all accrued interest, to be due and payable in full forthwith, and at the Bank’s option, to bring suit therefor and to take
any and all steps and institute any and all other proceedings that the Bank deems necessary to enforce the Secured Liabilities and to protect the lien of this Mortgage. 

b. Advance Sums for Other Liens. Upon the occurrence of any Event of Default arising out of the existence of any lien
upon the Property, the Bank shall have the right (without being obligated to do so or to continue to do so), with written notice to Grantor, to advance on and for the account of Grantor such sums as the Bank in its sole discretion deems necessary to
cure such Event of Default or to induce the holder of any such lien to forbear from exercising its rights thereunder. The repayment of all such advances, with interest thereon at the highest rate applicable to the Secured Liabilities from the date
of each such advance, shall be secured hereby and shall be immediately due and payable without demand. 
 c. Mortgage
Foreclosure. If a Matured Event of Default exists foreclose this Mortgage and sell the Property at public auction or venue or judicially foreclose this  

  
 11 

 
Mortgage pursuant to Applicable Law, and Grantor agrees to pay all of Bank’s costs and expenses, including reasonable attorney fees on an hourly basis plus expenses, which shall be added to
the Secured Liabilities. Any foreclosure sale may, at the sole option of the Bank, be made en masse or in parcels, any law to the contrary notwithstanding, and Grantor hereby knowingly, voluntarily and intelligently waives any right to require any
such foreclosure sale to be made in parcels or any right to select which parcels shall be sold. The proceeds of any foreclosure sale shall be applied, as the Bank elects, to the payment of Bank’s collection and other expenses, including
reasonable attorney fees on an hourly basis plus expenses, and/or payment of the Secured Liabilities, with the surplus, if any, to Grantor or Grantor’s successor in interest. Commencement of proceedings to foreclose this Mortgage in any manner
authorized by law shall be deemed an exercise of the Bank’s option to accelerate the Secured Liabilities. After the date upon which the maturity of the Secured Liabilities has been accelerated, Bank acceptance of any amount(s) paid by Grantor
less than the full unpaid principal balance of the Secured Liabilities plus accrued interest, late charges and Bank’s costs and expenses in this Mortgage described, shall not waive the default or acceleration, but shall only be credited upon
the unpaid balance of the Secured Liabilities unless the Bank specifically agrees in writing to waive any such default and/or acceleration. 

This Mortgage contains a power of sale and upon a Matured Event of Default may be foreclosed by advertisement. In a foreclosure by
advertisement, no hearing is involved and the only notice required is publication of a foreclosure notice in a local newspaper and posting a copy of the notice upon the Property. If this Mortgage is foreclosed by advertisement under the provisions
of Applicable Law, Grantor hereby knowingly, voluntarily, and intelligently waives all rights under the Constitution and laws of the State of Michigan and the Constitution and laws of the United States of America to any notice or hearing in
connection with a foreclosure by advertisement except as set forth in the Michigan statute. 
 d. Collection of Rents. If
a Matured Event of Default exists, enter into peaceful possession of the Property and/or to collect and receive all rents, issues, income and profits from the Property, terminate any tenancy, maintain proceedings to recover rents or possession of
any of the Property from any tenant or trespasser, rent or lease the Property or any portion thereof upon such terms as the Bank deems best, and have the right to all oil and gas royalties and any other income from the Property. Bank, in such order
as Bank in its sole discretion elects, may apply the proceeds of any rents, issues, profits and income to: (i) preservation, maintenance or operation of the Property, (ii) payment of taxes due on the Property; and (iii) payment of the
Secured Liabilities. Grantor irrevocably consents and agrees that the lessee(s) under any Lease, upon demand and notice from Bank of Grantor’s default, shall be required to pay all rents, issues, profits and income to Bank, without any
obligation upon such lessee(s) to determine the actual existence of any default by Grantor. Bank may enter upon the Property or any part thereof, by its officers, agents, or employees, for the collection of the rents, issues and profits and for the
operation and maintenance of the Property, and Grantor hereby authorizes Bank in general to perform all acts necessary for the operation and maintenance of the Property in the same manner and to the same extent that the Grantor might so act. Such
entry and taking possession of the Property or any part thereof by Bank, may be made by actual entry and possession or by written notice served personally upon or sent by certified mail to the last owner of the Property appearing on the records of
the Bank, as the Bank elects, without further authorization or notice.  

  
 12 

 Bank shall be entitled, to the extent provided by law, to the appointment of a receiver of the
Premises and of income derived therefrom, and all collateral. This appointment shall be in addition to any other rights, relief or remedies afforded Bank. Such receiver, in addition to any other rights to which he shall be entitled, shall be
authorized to sell any and all property of the Borrower located at the Property for the benefit of Bank pursuant to provisions of Michigan law and the Uniform Commercial Code of Michigan. Borrower acknowledges, agrees and irrevocably consents to,
the appointment of such receiver and that such receiver shall have the power to take possession of, sell, collect monies due from, and otherwise manage, the Property, and take, or refrain from taking, all other actions with respect to the Property
as if the owner thereof, or do any of the foregoing in whole or in part as Bank may request. In the event of any deficiency, Borrower and all other parties liable or otherwise obligated therefore, shall remain liable and obligated therefore. 

e. Title Reports. Procure mortgage foreclosure or title reports. Grantor covenants to pay forthwith to the Bank all sums paid
for such purposes with interest at the Default Rate applicable to the Secured Liabilities, and such sums and the interest thereon shall constitute a further lien upon the Property. 

f. Appraisals and Audits. Procure appraisals, environmental audits and such other investigations or analyses of the Property as
the Bank may reasonably determine to be required by regulatory or accounting rules, procedures or practices or to otherwise be reasonably prudent or necessary. Grantor shall grant the Bank free and unrestricted access to the Property for such
purposes. Grantor covenants to pay forthwith to the Bank all sums paid for such purposes with interest at the rate applicable to the Secured Liabilities, and such sums and the interest thereon shall constitute a further lien upon the Property.

 g. Bank’s rights under this Section 19 are subject to the provisions and limitations of Section 15 of the Loan
Agreement. 
 h. Notwithstanding the foregoing rights of the Bank following a Matured Event of Default, to the extent that the Pledged Pool
Lease (as defined in the Loan Agreement) with respect to the Property is in full force and effect and the tenant pays all rent due under the Pledged Pool Lease involved as and when due to the Bank, the Bank shall, prior to exercising any remedies
hereunder or in the Loan Agreement, collect all rent due under the Pledged Pool Lease involved for a period of thirty (30) days after a Matured Event of Default (the “Collection Period”), after which it can either (i) continue to
collect rent from the tenant under the Pledged Pool Lease involved (if the tenant under the Pledged Pool Lease involved has agreed to make such payments to the Bank) or (ii) after 15 days further written notice to the Borrower, exercise any and
all rights and remedies provided for herein, in the Loan Agreement or available to it under law, unless within said fifteen (15) day period, Borrower provides a third party purchaser of the Property who pays to Bank in good funds the
outstanding amount of the unpaid balance of the Note, and accrued but unpaid interest thereunder (and other amounts due pursuant to this Mortgage with respect to the Property) within said 15 day period. If the tenant fails to pay rent to the Bank
under the Collateral Pool Lease involved as and when due, the Bank will not be required to wait for the expiration of the Collection Period prior to exercising any of its remedies. 

  
 13 

 20. Costs of Legal Proceedings. The Grantor shall pay the Bank a reasonable
attorney’s fee, on an hourly basis plus expenses, in addition to all other legal costs in case the Bank shall become a party, either as plaintiff or defendant, to any legal proceedings in relation to the Property or the lien created hereby,
which sums shall be secured hereby and shall be payable forthwith at the highest rate applicable to the Secured Liabilities. 

21. Books and Records. The Grantor covenants and agrees to furnish to the Bank such books and records as required
pursuant to Loan Agreement.  
 22. Payment Upon Acceleration Subject to Any Prepayment Penalty. Upon the occurrence
and during the continuance of a Matured Event of Default by Grantor hereunder and following the acceleration of maturity of the Secured Liabilities, a tender of payment of the amount necessary to satisfy the entire Secured Liabilities, made at any
time prior to the foreclosure sale by Grantor, or by anyone in behalf of the Grantor, shall constitute an evasion of the payment terms of the Secured Liabilities and shall be deemed to be a voluntary prepayment thereunder, and any such payment, to
the extent permitted by law, will therefore include the premium required under the prepayment privilege and Swap Transaction Documents, if any, applicable to the Secured Liabilities. 

23. Security Agreement and Financing Statements. Grantor shall execute, acknowledge and deliver any and all financing
statements required by the Bank to protect its interest under the provisions of the Michigan Uniform Commercial Code, as amended, forthwith upon the written request of the Bank. Upon any failure of Grantor to do so, the Bank may execute, record,
file, re-record and refile any and all such documents for and in the name of Grantor, and Grantor hereby irrevocably appoints the Bank as agent and attorney-in-fact of Grantor for the foregoing purposes. This instrument is intended by the parties to
be, and shall be construed as, a security agreement, as that term is defined and used in Article Nine of the Michigan Uniform Commercial Code, as amended, and shall grant to the Bank a security interest in that portion of the Property with respect
to which a security interest can be granted under Article Nine of the Michigan Uniform Commercial Code, as amended, which security interest shall include a security interest in all personalty owned by Grantor, whether now owned or subsequently
acquired, which is or in the future may be physically located on or affixed to the Property described in Exhibit “A” hereto (but not otherwise), regardless of whether such personalty consists of fixtures under Applicable Law, a security
interest in the proceeds and products of the proceeds of all insurance policies now or hereafter covering all or any part of such collateral. For purposes of Article Nine of the Michigan Uniform Commercial Code, (a) Grantor herein is the
“debtor”, (b) the Bank herein is the “secured party”, (c) information concerning the security interest created hereby may be obtained from the Bank at its address set forth on page 1 hereof, and (d) Grantor’s
mailing address is that set forth on page 1 hereof. 
 24. Non-Bank Liens, Insolvency Proceedings. If any
non-Bank mortgage foreclosure proceeding or any Federal, State or local tax lien, seizure, levy, forfeiture, or any other lien or proceeding shall be instituted, recorded, or filed against the Property which is not being defended by Grantor in good
faith or if any insolvency or receivership proceedings, either  

  
 14 

 
voluntary or involuntary, are instituted by or against Grantor for the liquidation or rehabilitation of Grantor’s assets and affairs, or if any criminal proceedings are initiated wherein
forfeiture of the Property is a potential penalty, the Bank may, at its option and with written notice to Grantor, declare the entire Secured Liabilities to be immediately due and payable and may institute all such proceedings, including foreclosure
of this Mortgage, as the Bank deems necessary to protect its interest in the Property. 
 25. Prior Mortgage. If Bank
has consented and agreed, in writing specifically permitted that this Mortgage is to be second and subordinate to a prior recorded mortgage, Grantor expressly covenants and agrees that Grantor shall not borrow any additional sum, nor incur any
additional indebtedness or other obligation secured by the prior mortgage. 
 26. Suretyship Waivers. This
mortgage continuously secures an obligation of payment and not of collection, and the Grantor agrees that the Bank’s enforcement of its rights and remedies under this Mortgage, except as otherwise specifically set forth, shall be immediate upon
the occurrence and continuance of a Matured Event of Default. The Bank’s rights under this Mortgage shall not be contingent upon the exercise or enforcement by the Bank of whatever other remedies it may have against the Grantor or the
enforcement of any other lien or realization upon any other security or collateral the Bank may at any time possess. Any one or more successive and/or concurrent actions may be brought hereon against Grantor either in the same action, or in separate
actions, as often as the Bank, in its sole discretion, may deem advisable. No election to proceed in one form of action or proceeding, or against any party, or on any obligation, shall constitute a waiver of the Bank’s right to proceed in any
other form of action or proceeding or against other parties unless the Bank has expressly waived such right in writing. Specifically, but without limiting the generality of the foregoing, no action or proceeding by the Bank against Borrower under
any document or instrument evidencing the Secured Liabilities shall serve to diminish the rights of the Bank under this Mortgage, except to the extent the Bank realizes payment by such action or proceeding, notwithstanding the effect of any such
action or proceeding upon Grantor’s right of subrogation against Borrower, if any. 
 27. Binding Effect.
Until this Mortgage is discharged in full, all of the covenants and conditions hereof shall run with the land and shall be binding upon the successors and assigns of Grantor, and shall inure to the benefit of the successors and assigns of the Bank.
Any reference herein to “Grantor” or the “Bank” shall include their respective successors and assigns. 

28. Notices. All notices, demands and requests required or permitted to be given to Grantor hereunder or by law shall be
deemed delivered when deposited in the United States mail, with full postage prepaid thereon, addressed to Grantor at the last address of Grantor on the records of the Bank. 

29. No Waiver. No waiver by the Bank of any right or remedy granted hereunder shall affect or extend to any other right
or remedy of the Bank hereunder, nor affect the subsequent exercise of the same right or remedy by the Bank for any further or subsequent Event of Default by Grantor hereunder, and all such rights and remedies of the Bank hereunder are cumulative.
Time is of the essence. 

  
 15 

 30. Severability. If any provision(s) hereof are in conflict with any
statute or rule of law of the State of Michigan or state where the Property is located (as may be applicable under pursuant to the Loan Agreement) or are otherwise unenforceable for any reason whatever, then such provision(s) shall be deemed null
and void to the extent of such conflict or unenforceability, but shall be deemed separable from and shall not invalidate any other provisions of this Mortgage. 

31. Pronouns. If more than one person joins in the execution hereof, or is of the feminine sex, or a corporation, the
pronoun and relative words herein used shall be read as if in plural, feminine or neuter, respectively. 
 [Signature on the following
page] 

  
 16 

 This Mortgage was executed and delivered by the undersigned on the date stated in the first
paragraph above. 
  

							
		 	Grantor:
		
		 	 UTSI FINANCE, INC.,
 a Michigan
corporation

				
		 		 	By:	 	 /s/ Violeta V. Golematis

		 		 		 	Violeta V. Golematis
		 		 		 	Its: Treasurer

  

			
	STATE OF MICHIGAN	 	)
		 	)ss
	COUNTY OF MACOMB    	 	)

 The foregoing instrument was acknowledged before me on
21st day of June, 2016, by Violeta V. Golematis, the Treasurer of UTSI Finance, Inc., a Michigan corporation, on behalf of the corporation. 

 

	
	 /s/ Ralph Castelli

	Ralph A. Castelli, Jr.
	Notary Public, Oakland County, Michigan
	My commission expires: July 13, 2020
	Acting in Macomb County

  

					
	DRAFTED BY:	  	WHEN RECORDED RETURN TO:	  	
			
	Donald A. Wagner	  	Donald A. Wagner	  	
	Couzens, Lansky, et al	  	Couzens, Lansky, et al	  	
	39395 West Twelve Mile	  	39395 West Twelve Mile	  	
	Suite 200	  	Suite 200	  	
	Farmington Hills, Michigan 48331	  	Farmington Hills, Michigan 48331	  	

  
 17 

 EXHIBIT “A” 

Description of Real Estate 
 The land referred to
herein below is situated in the City of Dearborn, County of Wayne, State of Michigan, and is described as follows: 
 Parcel 1: 

Land in Private Claim 61, Town 2 South, Range 11 East, beginning at a point in the Westerly line of Stecker Avenue (70 feet wide) point is South 80 degrees 23
minutes West 575.81 feet along Northerly line of Southern Avenue and North 26 degrees 39 minutes West 1123.37 feet along Westerly line of Stecker Avenue from intersection of Northerly line of Southern Avenue and Easterly line of Private Claim 61;
thence North 26 degrees 59 minutes West 360 feet; thence South 63 degrees 21 minutes West 556.73 feet to a point 64.75 feet Easterly of Westerly line of Private Claim 61; thence South 26 degrees 39 minutes East 360 feet; thence North 63 degrees 21
minutes East 556.73 feet to the point of beginning. 
 Parcel 2: 

Beginning at a point in Easterly line of Wyoming Avenue, being South 1097.42 feet and distant South 15 degrees 23 minutes West 886.89 feet from intersection of
Easterly line of Wyoming Avenue and Southerly line of Michigan Avenue; thence South 15 degrees 23 minutes West 210 feet along Easterly line of Wyoming Avenue; thence South 74 degrees 37 minutes East 1002.02 feet; thence North 63 degrees 21 minutes
East 148.75 feet to the Easterly line of Private Claim 216; thence North 26 degrees 39 minutes West 148.64 feet along said line; thence North 74 degrees 37 minutes West 1013.16 feet to the point of beginning. 

Parcel 3: 
 Land in the P.C. 216, Town 2 South, Range 11 East
described as: Beginning at a point on the Easterly line of Wyoming Avenue, Southerly 1097.42 feet and South 15 degrees 23 minutes West 1096.89 feet from intersection of the East line of Wyoming Avenue and South line of Michigan Avenue; thence
continuing South 15 degrees 23 minutes West 600 feet; thence South 74 degrees 37 minutes East, 650 feet; thence North 15 degrees 23 minutes, 600 feet; thence North 74 degrees 37 minutes, West 650 feet to the point of beginning. 

Parcel 4: 
 Part of Private Claim 216 lying Northerly of the
Michigan Central Railroad in City of Dearborn, Wayne County, Michigan, described as follows: Beginning at a point in the Northerly line of Southern Avenue (66 feet wide) said point being distant North 80 degrees 23 minutes East 789.30 feet from the
intersection of the Northerly line of said Southern Avenue, with the Easterly line of Wyoming Avenue (66 feet wide at this point) running thence North 80 degrees 23 minutes East 625 feet along the Northerly line of said Southern Avenue to a point;
thence North 26 degrees 39 minutes West 414.25 feet to a point; thence South 80 degrees 23 minutes West, 125 feet to a point; thence North 26 degrees 39 minutes West 424.28 feet to a point in the Easterly line of the Norwalk Trucking Company
property; thence South 15 degrees 23 minutes 

  
 18 

 
West, 447.61 feet along said Easterly line to the Southeasterly corner of said Norwalk property; thence North 74 degrees 37 minutes West 150 feet along the Southerly line of said property to a
point; thence South 15 degrees 23 minutes West 100 feet to a point; thence South 26 degrees 39 minutes East, 385.77 feet to point of beginning. 
 Parcel 5:

 Part of Private Claims 216 and 61, lying Northerly of the Michigan Central Railroad in the City of Dearborn, Wayne County, Michigan, described as follows:
Beginning at a point in the Northerly line of Southern Avenue (66 feet wide) said point being distant North 80 degrees 23 minutes East 1414.30 feet from the intersection of the Northerly line of Southern Avenue with the Easterly line of Wyoming
Avenue (66 feet wide at this point), running thence North 80 degrees 23 minutes East, 715.55 feet along the Northerly line of said Southern Avenue to a point in the Southerly line of a seventeen foot spur track easement; running thence North 77
degrees 13 minutes West 186.50 feet along said Southerly easement line to a point of curve; thence on a 14 degrees 48 minutes curve to the right of 341.78 feet, to a point of tangent (chord distance being North 51 degrees 30 minutes West 331.61
feet), running thence North 26 degrees 39 minutes West 543 feet along the Westerly line of said easement to a point; thence South 63 degrees 21 minutes West 156.50 feet; thence North 74 degrees 37 minutes West 352.20 feet to the Northeasterly corner
of the Norwalk Trucking Company property; thence South 15 degrees 23 minutes West 152.39 feet along the Easterly line of said Norwalk property to a point; thence South 26 degrees 39 minutes East 424.28 feet to a point; thence North 80 degrees 23
minutes East 125 feet; thence South 26 degrees 39 minutes East 414.25 feet to the point of beginning. 
 Parcel 6: 

Part of Private Claim No. 216 and No. 61, City of Dearborn, Wayne County, Michigan, and being more particularly described as follows: Commencing at
the Southeasterly corner of Wyoming Avenue (86 feet wide) and Michigan Avenue (100 feet wide) and running thence South 00 degrees 01 minutes 14 seconds East, along the Easterly line of said Wyoming Avenue, a measured distance of 1098.15 feet
(described 1097.42 feet) to an angle point in said street line; thence South 15 degrees 22 minutes 11 seconds West, along the Easterly line of said Wyoming Avenue, a distance of 156.91 feet to the point of beginning of the parcel of land herein
being described; proceeding thence from said point of beginning North 63 degrees 17 minutes 09 seconds East a measured distance of 885.45 feet (described 885.13 feet) to a point on the Westerly line of Stecker Avenue (70 feet wide); thence South 25
degrees 39 minutes 00 seconds East along the Westerly line of said Stecker Avenue, a measured distance of 951.96 feet (described 949.27 feet) to a point; thence South 63 (recorded South 83) degrees 21 minutes 00 seconds West a distance of 556.73
feet to a point; thence South 26 degrees 45 minutes 08 seconds East, a measured distance of 417.75 feet (described 420.00 feet) to a point; thence South 63 degrees 21 minutes 00 seconds West a distance of 40.00 feet to a point; thence South 26
degrees 39 minutes 00 seconds East a measured distance of 544.54 feet (described 543 feet) to a point; thence along the arc of a curve concave to the Northeast, radius 383.40 feet, a measured arc distance of 326.70 feet (described 325.84 feet)
(chord bears South 51 degrees 20 minutes 47 seconds East, 315.80 feet) to a point; thence South 77 degrees 13 minutes 00 seconds East, along a line not tangent to the foregoing curve, a distance of 89.39 feet to a point; thence North 26 degrees 39
minutes 00 seconds West a distance of 432.00 feet to a point; thence North 63 degrees 31 minutes 00 seconds East a distance of 395.00 feet to a point on the Westerly line of 

  
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 said Stecker Avenue; thence South 26 degrees 39 minutes 00 seconds East, along the Westerly line of said Stecker
Avenue, a distance of 608.33 feet to the point of intersection of said street line with the Northerly line of Southern Avenue (66 feet wide); thence South 80 degrees 26 minutes 13 seconds West, along the Northerly line of said Southern Avenue, a
measured distance of 344.41 feet (described 345.39 feet) to a point; thence North 77 degrees 13 minutes 00 seconds West a measured distance of 187.78 feet (described 186.5 feet) to a point; thence along the arc of a curve, concave to the Northeast,
radius 389.52 feet, a measured arc distance of 342.26 feet (described 341.78 feet) (chord bears North 51 degrees 24 minutes 18 seconds West, 331.36 feet) to a point; thence North 26 (recorded North 28) degrees 39 minutes 00 seconds West along a line
7.75 feet Easterly of, as measured at right angles to and parallel with the Westerly line of Private Claim No. 61, a measured distance of 544.54 feet (described 543 feet) to a point; thence South 63 degrees 21 minutes 00 seconds West a distance
of 7.75 feet to a point on the Easterly line of said Private Claim No. 216; thence North 26 (recorded North 28) degrees 39 minutes 00 seconds West, along the Easterly line of said Private Claim No. 216, a measured distance of 795.11
(described 795.39 feet) to a point; thence North 74 degrees 37 minutes 49 seconds West, a measured distance of 580.83 feet (described 580.18 feet) to a point on the Easterly line of said Wyoming Avenue; thence North 15 degrees 22 minutes 11 seconds
East, along the Easterly line of said Wyoming Avenue, a measured distance of 248.95 feet (described 249.73 feet) to the point of beginning.
 Commonly known
as: 4440 Wyoming Avenue, Dearborn, MI 48126 
 Tax Parcel No.: 82-10-161-51-004, as to Parcel 1, 82-10-163-02-002, as to Parcel 2, 82-10-163-02-003, as to
Parcel 3, 82-10-163-02-008, as to part of Parcel 4, 82-10-163-02-009, as to Part of Parcel 4, 82-10-163-02-010, as to part of Parcel 4, 82-10-163-02-011, as to part of Parcel 5, 82-10-163-02-012, as to part of Parcel 5, 82-10-161-51-002, as to Part
of Parcel 6, 82-10-161-51-005, as to part of Parcel 6, 82-10-163-02-013, as to Part of Parcel 6 

  
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