Document:

Exhibit 10.1

Sovereign Bank

 

August 10, 2012

 

Blonder Tongue Laboratories, Inc.

One Jake Brown Road

Old Bridge, NJ 08857

Attn: Eric Skolnik, Senior Vice President & CFO

 

RE:          Revolving Credit, Term Loan and Security Agreement
dated August 6, 2008, as amended, (“Credit Agreement”) by and among Sovereign Bank N.A., as a lender and as
agent for the lenders from time to time party thereto (“Lender”) and Blonder Tongue Laboratories, Inc., a Delaware
corporation (“Blonder Tongue”), and its wholly owned subsidiary, R. L. Drake Holdings, LLC, a Delaware limited
liability company (“Drake” and, together with Blonder Tongue, collectively referred to herein as, “Borrowers”
and each, individually, a “Borrower”).

 

Gentlemen:

 

Reference is made to the Credit Agreement.
Capitalized terms used herein and not otherwise defined shall have the meanings given to them in the Credit Agreement. You have
requested that we modify the Fixed Charge Coverage Ratio Covenant applicable to the trailing 12-month period ended June 30, 2012,
as set forth in Section 6.5(a) of the Credit Agreement on a retroactive basis to and effective as of June 30, 2012. The Lender
is amendable to your request and as such it is agreed as follows:

 

Effective retroactively to and
effective as of June 30, 2012, the Fixed Charge Coverage Ratio set forth in Section 6.5(a) of the Credit Agreement, applicable
only to the trailing 12\-month period ended June 30, 2012 is reduced from 1.50:1.00 to 1.30: 1.00. All subsequent testing periods
for the Fixed Charge Coverage Ratio shall remain at 1.50:1.00.

 

All other terms, provisions and conditions
set forth in the Credit Agreement shall remain in full force and effect and shall not be modified hereby. Please confirm your agreement
to the foregoing retroactive amendment to the Credit Agreement by signing and returning a copy of this letter to the undersigned.

 

	 	Very truly yours,
	 	 
	 	SOVEREIGN BANK, N.A.
	 	 
	 	By:	/s/  Mark Metsky,
	 	 	Mark Metsky, Senior Vice President

 

	ACCEPTED AND AGREED TO	 
	EFFECTIVE RETROACTIVELY TO	 
	JUNE 30, 2012.	 
	 	 
	BLONDER TONGUE LABORATORIES, INC	 
	 	 
	By:	/s/  Eric Skolnik,	 
	 	Eric Skolnik, Senior Vice President and CFOFirst
AMENDMENT TO CONVERTIBLE PROMISSORY NOTE TRANSFER AGREEMENT

 

 

 

This First Amendment to the Convertible
Promissory Note Transfer Agreement is executed on this 24th day of July, 2012. Reference is made to that certain the
Convertible Promissory Note Transfer Agreement (the “Note Transfer Agreement”) dated April 28, 2012, by and among,
Great Essential Investment, Ltd., a company registered in the Virgin Islands (“Great Essential”), Carlyle Asia Growth
Partners III, L.P., a limited partnership organized under the laws of the Cayman Islands (“CAGP”) and CAGP III Co-Investment,
L.P., a limited partnership organized under the laws of the Cayman Islands (“CAGP III,” and together with CAGP, the
“Holders”) and China Recycling Energy Corporation, a Nevada corporation (the “Company”). Any capitalized
terms in this amendment not otherwise defined shall have the meaning ascribed to them in the Note Transfer Agreement.

 

WHEREAS, the
parties to the Note Transfer Agreement have agreed to amend and extend the termination date from June 30, 2012 to August 30, 2012;

 

WHEREAS, the
parties have agreed to amend and extend the maturity date of the Note for a period of 120 days following the Transfer Date;

 

WHEREAS, the
parties have acknowledged that the Form S-3 filed with the Securities and Exchange Commission of
the United States (the “SEC”) covering the shares issuable upon the conversion of the Note has been declared effective
by the SEC on May 18, 2012.

 

WHEREAS, the parties further have
agreed that it is in the best interest of all parties, that the Note Transfer Agreement be amended.

 

NOW THEREFORE, in consideration of
the premises and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties
hereto hereby agree as follows:

 

1.                 
Section 1.01. The Note Transfer. If Great Essential fails to pay the Transfer Price in full before the Transfer Date,
the Transfer Date shall be postponed accordingly until such date when the Holders receive the full payment of the Note and any
interest accrued thereon, provided that if Great Essential fails to pay the outstanding amount in full before August 30, 2012,
this Agreement and the Note transfer shall be terminated. The Holders and Great Essential agree with the Company that the maturity
date of the Note shall be extended for a period of 120 days following the Transfer Date and that Great Essential shall have registration
rights with respect to shares issuable upon conversion of the Note consistent with the registration rights of the Holders pursuant
to the Amended and Restated Registration Rights Agreement between the Holders and the Company dated April 29, 2009. Except as expressly
set forth herein, all terms of Section 1.01 of the Note Transfer Agreement remain in full force and effect, and constitute the
legal, valid, binding and enforceable obligations of the parties thereto.

 

    	 

    	 	

    
 

2.             Section 2.01. Representations and Warranties of Great Essential.

 

(1) Section 2.01 (e) will be
deleted in its entirety and replaced with the following:

 

Great Essential understands
that a registration statement on Form S-3 has been filed with the Securities and Exchange Commission of the United States (the
“SEC”) covering the shares issuable upon the conversion of the Note and it has been declared effective by the SEC on
May 18, 2012.

 

(2) Section 2.01 (h) will be
deleted in its entirety.

 

3.             This first amendment becomes effective as of and from June 28, 2012.

 

4.             This first amendment may be executed in any number of counterparts each of which shall constitute an original but all of
which when taken together shall constitute but one contract.

 

5.             Except as amended hereby, or as otherwise amended, the Note Transfer Agreement is in all respects ratified and confirmed
and the provisions thereof shall remain in full force and effect.

 

(THE REMAINDER OF THIS PAGE INTENTIONALLY
LEFT BLANK)

(SIGNATURE PAGE FOLLOWS)

 

    	 

    	 	

    
 

 

IN WITNESS WHEREOF,
the parties hereto have executed this FIRST AMENDMENT TO CONVERTIBLE PROMISSORY NOTE TRANSFER AGREEMENT on the date first written
above.LEASE

 

This Lease is made this 10th
day of August, 2012 by and between SENK Properties, LLC, an Ohio limited liability company (hereinafter called
“Lessor”) and OurPet’s Company, a Colorado Corporation (hereinafter called “Lessee”), and
is intended to replace in its entirety an earlier Lease between Lessor and Lessee dated March 1, 2007.

 

WITNESSETH:

 

		1.	DESCRIPTION AND LEASE OF PREMISES

 

Lessor hereby leases to Lessee,
and Lessee hereby leases from Lessor, the

premises situated in the Village of Fairport, County of Lake,
and State of Ohio known as 1300 East Street, Fairport Harbor, Ohio 44077, and more fully described in the legal description attached
hereto as Exhibit A and made a part hereof, together with such appurtenances thereto as shall be necessary for Lessee’s
use thereof. Such premises may hereinafter be referred to as the “Premises.”

 

		2.	TERM

 

		2.1	Original Term

 

The term of this Lease shall be ten (10)
years, commencing September 1, 2012 and ending at midnight February 28, 2023.

 

		2.2	Additional Term

 

If this Lease has not been terminated and
Lessee is not in default of any material provision of this Lease, Lessee shall have the option to extend this Lease for an additional
term of ten (10) years, under the same terms and conditions as are provided in this Lease except that (a) there shall be no further
right of renewal, and (b) the rent for such additional term shall be increased by a mutually agreed amount. Lessee may exercise
such option by giving notice to Lessor as provided herein no and no later than August 30, 2016.

 

		2.3	Holding Over

 

If Lessee holds over in possession of the
Premises after the expiration date of the original term or any additional term of this Lease and no new lease is executed, Lessor
shall consider Lessee a month-to-month tenant, under the same terms and conditions, other than term, as are provided in this Lease
and then in effect, including rent.

 

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		3.	RENT

 

		3.1	Basic Rent

 

During the Original Term of this Lease,
rent shall be computed on the basis of an annual charge per square foot of space within the building located on the premises, said
building consisting of 64,000 square feet of space. Rent shall be computed in accordance with the following schedule:

 

	 
Year
	 	Annual Rental Per
 Square Foot
	 	 	Total
 Annual Rent
	 
	1	 	$	5.11	 	 	$	327,000	 
	2	 	$	5.11	 	 	$	327,000	 
	3	 	$	5.44	 	 	$	348,160	 
	4	 	$	5.44	 	 	$	348,160	 
	5	 	$	5.78	 	 	$	369,920	 
	6	 	$	5.78	 	 	$	369,920	 
	7	 	$	5.78	 	 	$	369,920	 
	8	 	$	6.11	 	 	$	391,040	 
	9	 	$	6.11	 	 	$	391,040	 
	10+	 	$	6.44	 	 	$	412,160	 

 

The annual rent shall be paid in twelve (12)
equal installments in advance on the first day of each month.

 

		3.2	Property Taxes

 

(a) Upon receipt of each bill from the appropriate
governmental taxing authority, Lessor shall pay the property tax and prepare and render to Lessee a statement for the same amount,
which statement shall include a copy of such tax bill. Such amount shall be payable within fifteen (15) days after such statement
shall have been received by the Lessee. The greater of $300.00 late fee or interest at an annualized rate of 12 percent shall apply
if Lessee does not make such property taxes within fifteen (15) after such a statement has been rendered.

 

(b) Either Lessor or Lessee shall have the
right to protest any increase in taxes or assessments or otherwise seek reduction therein, at its expense.

 

		3.3	Method of Payment

 

All rent payments shall be made payable
to Lessor and shall be sent to Lessor at 9932 Brookhill Circle, Twinsburg, OH 44087, unless Lessor shall direct otherwise by notice
to Lessee.

 

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		4.	CONDITION OF PREMISES, REPAIRS, ALTERATIONS AND MAINTENANCE

 

		4.1	Condition of Premises at Commencement of Term

 

Lessee has examined the Premises, knows their
condition and accepts the Premises in their present condition. Lessee acknowledges that Lessor has made no representations to Lessee
as to the condition of the Premises prior to or at the execution of this Lease, and has promised no repairs or alterations.

 

		4.2	Repairs and Maintenance

 

(a)         Lessor’s Repairs and Maintenance.
Lessor shall keep the foundation, outer walls, roof and structural portions of the Premises in good repair, exclusive of glass
and exterior doors (except that Lessor shall not be obligated to make any repairs which are occasioned by the act or omission of
Lessee, its agents, employees, invitees or licensees). In addition, Lessor shall be responsible for the replacement (but not routine
maintenance) of any HVAC equipment servicing the Premises and any major repair or replacement (but not routine sealing and striping)
of the parking lot. The manner in which such areas and facilities shall be maintained and the expenditures therefor shall be at
the reasonable discretion of Lessor. Lessor shall have no other obligation to maintain or repair the Premises or any portion thereof,
or to furnish any services or facilities, or to make any alterations or improvements in the Premises. The cost of repairs referenced
in this Section 4.2(a) rendered necessary by the negligence or willful misconduct of Lessee or Lessee’s agents, employees,
invitees or licensees, shall be reimbursed by Lessee to Lessor within thirty (30) days of Lessor’s written request.

 

(b)         Lessee’s Repairs and Maintenance.
Except as set forth in Section 4.2(a) hereof, at the sole cost and expense of Lessee and throughout the term of this Lease, Lessee
shall keep and maintain the Premises in good order, condition, replacement and repair, in a clean, sanitary and safe condition
in accordance with the laws, ordinances and regulations of all authorities which have jurisdiction over the Premises. All repairs
made by Lessee shall be performed in a good and workmanlike manner, and all items that Lessee shall replace during the term of
this Lease shall be new and of equal or better quality, type and style than the item being replaced. Lessee shall not permit any
waste, damage or injury to the Premises. Lessee shall further keep the Premises clean, attractive and free of rubbish, rubble,
debris, insects, rodents and other pests.

 

(c)         Lessee’s Right to Use Self
Help. In the event that Lessor fails to keep or perform any of its obligations set forth in Section 4.2(a) in a reasonable
amount of time, then Lessee may perform such obligation at its own expense and offset the documented cost of such performance against
any base rent, additional rent or any other amounts thereafter payable by Lessee under the Lease.

 

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		4.3	Condition of Premises at Termination of Lease

 

(a) Upon the expiration or other termination
of this Lease, Lessee shall remove its goods and effects and those of all persons claiming under it from the Premises and shall
deliver and yield the premises to Lessor in as good repair and condition as the Premises were at the commencement of the term of
this Lease, except reasonable wear and tear and destruction as described in section 8 of the Lease for which Lessee is not obligated
to make repairs.

 

(b) All improvements installed in the Premises
by Lessee but not affixed to the building as permanent installations shall remain the property of Lessee. Lessee may remove the
same upon the termination of the Lease and shall repair to Lessor’s reasonable satisfaction or reimburse Lessor for any damage
resulting from such removal. All improvements affixed to the building with the intention to make them permanent installations,
whether installed by Lessee or by Lessor, shall be the sole property of Lessor, and Lessee shall have no right to remove same.

 

		5.	UTILITIES

 

Lessee shall pay all charges for the use of
sewers, water, heat, light, fuel and other utilities relating to the Premises. Wherever possible, Lessee shall make all payments
directly to the provider of the services; otherwise, Lessee shall promptly reimburse Lessor for all payments made directly by Lessor
to the providers of such services.

 

		6.	DAMAGE TO OR DESTRUCTION OF PREMISES

 

If the Premises should be damaged or destroyed
by any cause Lessee shall not be entitled to terminate this Lease and Lessor shall, with reasonable speed, repair or rebuild the
Premises so that they are restored to the same utility for the uses described herein that they had immediately prior to the happening
of such damage or destruction, to the extend possible with the insurance proceeds paid to Lessor as a result of the damage or destruction.
During the period of time that Lessee is unable to occupy the Premises for its intended uses as described herein due to damage
or destruction not caused, directly or indirectly, by the conduct of Lessee, its agents, employees, visitors or invitees, the basic
rent (as set forth in Section 3.1) shall be reduced by an amount which bears the same ratio to the basic rent hereunder as the
unusable square footage bears to the total number of square feet comprising the Premises. In the event that the repair or rebuilding
of the Premises, as described in this paragraph, is not completed within 180 days of the date the damage or destruction occurred,
then Lessee may terminate the Lease by providing prior written notice to Lessor of its intention to terminate.

 

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		7.	EMINENT DOMAIN

 

		7.1	Effect of Eminent Domain or Similar Proceeding

 

If all or any part of the Premises or building
located thereon are appropriated or taken under the power of eminent domain by any public authority, or by an quasi-public authority,
and as a result of such taking the Premises cannot be used for the purposes intended in the reasonable judgment of Lessor, or if
Lessee is denied access to the Premises, then this Lease shall terminate, and the rent and any other sums payable by Lessee to
Lessor under this Lease shall be prorated as of the date that possession is taken by such condemning authority. However, if Lessor
is able to remain on the land to restore the building or other improvements so that upon the completion of such improvements Lessee
will be able to operate its business in a manner that is substantially consistent with its operations prior to the taking and is
not materially adverse to such operations, then this Lease shall not terminate but the rent and other charges payable by Lessee
to Lessor shall be adjusted upon a basis which shall be reasonable under the circumstances then existing, and the Lessor shall
promptly commence and diligently proceed to restore the Premises to a complete architectural unit out of the proceeds received
by Lessor for such taking.

 

		7.2	Disposition of Award

 

If there are any legal proceedings in connection
with any taking referred to in this Section 7, each of the parties hereto shall make its own separate claim to the authority taking
the Premises and each shall be entitled to a separate award or compensation granted to it as a result of prosecuting its claim.
Both Lessor and Lessee shall retain whatever rights are permitted them by law to oppose such taking or conveyance. Lessee shall
have the right to make a claim against the condemning authority, but not against Lessor, on account of interruption of Lessee’s
business, moving and relocation expenses and for depreciation to and removal of Lessee’s trade fixtures.

 

		7.3	Taking Not a Breach of Covenant of Quiet Enjoyment

 

No taking shall operate as or be deemed
an eviction of the Lessee or a breach of the Lessor’s covenants for quiet enjoyment.

 

		7.4	Definition of “Taking”

 

As used in this Section 7, the term “taking”
or “taken” shall include both condemnation and any voluntary conveyance in lieu of, or under threat of, condemnation.

 

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		8.	INSURANCE

 

		8.1	Public Liability Insurance

 

Lessee will obtain, at its expense, effective
as of the commencement of its right to occupy the Premises, and will maintain so long as Lessee continues to occupy lease any part
of the Premises, complete comprehensive liability insurance, under which Lessor will be named as an additional insured, the policy
or policies to be in such form and issued by such company or companies as are satisfactory to Lessor, in the sum of One Million
Dollars ($1,000,000.00) in the event of injury to one person or damage to property and Two Million Dollars ($2,000,000.00) in the
event of injuries to more than one person or damage to property arising out of each occurrence for which a claim for damages may
result. A copy or copies thereof, or a certificate or certificates thereof, will be deposited with Lessor together with evidence
of payment of the premiums thereon, within thirty (30) days after their issuance.

 

		8.2	Contents

 

The insurance coverage of contents of the
Premises belonging to Lessee, if such coverage is desired, shall be the sole responsibility of Lessee.

 

		8.3	Fire, Extended Coverage and Similar Coverages

 

Lessee agrees to maintain insurance coverage,
under which Lessor will be named as an additional insured, on all of the Premises against loss or damage by fire, flood, lightning,
and such perils as are at this time comprehended within the term “Extended Coverage.” Said insurance shall be in an
amount equal to the replacement value of the Premises. Such insurance shall be obtained and maintained at the sole responsibility
and expense of Lessee. A copy or copies thereof, or a certificate or certificates thereof, will be deposited with Lessor together
with evidence of payment of the premiums thereon, within thirty (30) days after their issuance.

 

		8.4	Additional Insured; Cancellation of Policies

 

Lessor shall be named as an additional insured
party, as Lessor’s interest may appear, under Lessee’s policies of public liability insurance for the Premises. Lessor
shall be named as a loss payee, as Lessor’s interest may appear, under Tenant’s property insurance covering the improvements
on the Premises. Upon written request made by Lessor to Lessee, Lessor’s mortgagee shall also be named as an additional insured
party, as its interest may appear, under all such policies maintained by Lessee. Lessee’s insurance coverages shall not be
subject to cancellation or termination without at least thirty (30) days’ prior written notice to Lessor.

 

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		8.5	Waiver of Subrogation

 

Each party hereby waives all causes and
rights of recovery which it has or may have or which may arise hereafter against the other party, its agents, officers and employees
for any loss occurring to the leased premises, property or business (regardless of cause or origin, including the negligence of
such other party, its agents officers and employees), resulting from any of the perils against which the damaged party is protected
by fire, extended coverage, building and contents, business interruption, or other insurance, to the extend of any recovery upon
such policies of insurance. However, if said waiver should invalidate such policies of insurance in whole or in part, said waiver
shall be void. If additional premium should be charged for such a waiver provision, the party benefited by such waiver, upon the
other party’s request, shall reimburse the other party for such additional premium.

 

		9.	USE

 

		9.1	General

 

(a) Lessee shall occupy and use the Premises
as a factory, office and warehouse and for no other purpose, and in a careful, safe and proper manner and shall not commit or suffer
any waste therein. Lessee shall not occupy or use the Premises for any unlawful purpose, in violation of any lawful covenant or
condition of record restricting the use of the Premises or in any way that would increase the premiums to be paid by Lessor for
fire and extended coverage insurance affecting the Premises. In its occupation and use of the Premises, Lessee shall comply with
all laws, ordinances, rules, regulations, requirements and orders of all governmental authorities having jurisdiction over the
Premises.

 

(b) If any such authority notifies Lessor
of a violation of any such law ordinance or regulation, Lessor shall notify Lessee thereof, and Lessee shall have ten (10) days
following such notice to commence to correct such violation and thirty (30) days to complete the corrective actions. Failure by
Lessee so to act within such ten (10 day period shall constitute a default for the purpose of this Lease.

 

(c) All excise taxes, license fees and charges
for permits which may arise from the use or operation of the Premises or the conduct of any business thereon shall be payable by
Lessee, and Lessee shall save Lessor harmless for all liability therefore.

 

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		9.2	Alterations and Improvements

 

(a) Upon obtaining Lessor’s written
consent, Lessee may, at its expense, make such interior alterations and improvements (not including structural alterations) to
the Premises as shall be necessary for its full use of the Premises consistent with this Lease, provided that no such alterations
will materially decrease the value or marketability of the premises. Lessor shall not unreasonably withhold such consent, if (i)
the proposed alterations or additions shall not materially decrease the value or marketability of the Premises, (ii) Lessee provides
Lessor with reasonably sufficient drawings and specifications of the work to be done and the materials to be furnished, and (iii)
Lessee provides Lessor with sufficient security to assure that proper insurance and worker’s compensation coverage are in
effect during the performance of the work and that the work will be completed free of liens against the Premises. Such alterations
and improvements shall be done in a good, workmanlike manner and in accordance with all applicable laws, ordinances, rules and
regulations. In any event, if the cost of the proposed interior alterations and improvements is reasonably anticipated to be less
than $10,000 in the aggregate, then Lessee will not be obligated hereunder to obtain Lessor’s prior written consent.

 

(b) Lessor may make such alterations and
additions affecting the Premises as it might desire provided that: (1) the same shall not materially impair Lessee’s use
of the Premises consistent with this Lease and, (2) Lessor shall have given prior notice of said alterations and additions to Lessee.

 

		10.	DEFAULT

 

		10.1	Events Constituting Default

 

For the purpose of this
Lease, “default” shall mean any of the following events: (a) an assignment made by Lessee for the benefit of creditors,
or consent by Lessee to an appointment of a receiver or trustee of all or a substantial part of Lessee’s property; (b) the
filing of an involuntary petition seeking the appointment of a receiver or trustee of all or a substantial part of its property,
which proceeding is not dismissed or stayed within sixty (60) days from its entry; (c) failure by Lessee to pay an installment
of rent within ten (10) days after it is due; (d) failure by Lessee to pay any other money obligation within ten (10) days after
Lessor shall have given written notice that such rent or other obligation is past due; (e) failure by Lessee to perform or observe
any other covenant or agreement under this Lease, which failure shall continue uncured for a period of thirty (30) days after delivery
to Lessee of written notice thereof (provided, however, that Lessee’s failure to perform any such obligation which may not
reasonably be cured within thirty (30) days shall not be considered a default if Lessee, within said thirty (30) day period, institutes
efforts to cure said non-performance and diligently prosecutes said efforts to completion); or (f) the taking of the leasehold
estate hereby created on execution or by other processes or operation of law.

 

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		10.2	Effect of Default

 

In the event of default, Lessor may at its
option (a) terminate this Lease, or, without terminating this lease, terminate Lessee’s right to possession of the Premises
under this Lease, (b) reenter the Premises with or without process of law, using such force as may be necessary and remove all
persons and chattels therefrom, and Lessor shall not be liable for damages or otherwise by reason of such reentry, (c) sue for
and collect (1) the whole amount of rent herein provided to be paid through the entire term of this Lease (including the unexpired
portion thereof), in case of any event identified in paragraphs 11.1 (b) or (c) hereof; otherwise, the amount of rent owed by Lessee
to Lessor as accrued when the action to collect same is brought, (2) all other sums for which Lessee shall be in default (including,
but not limited to, those resulting from damage to the Premises, taxes and insurance) (3) the costs of preparing the Premises for
re-rental (including, but not limited to, brokerage fees, advertising costs, and painting and repairing), and (4) reasonable attorney’s
fees to the extend permitted by law, (d) cure any default relating to the condition of the Premises and obtain reimbursement of
expense therefore from Lessee, or (e) employ any other remedy provided by law. The foregoing remedies may be exercised individually
or cumulatively at the option of the Lessor, and the exercise of any one shall not be deemed a waiver of Lessor’s right to
exercise one or more additional remedies. Except as provided in this Lease, Lessee waives the necessity of demand for rent and
any other demand or notice that may now or hereafter be required by any statute, regulation or decision for the maintenance of
any action in forcible entry and detainer. The commencement of such an action by Lessor shall for the purpose of this Lease be
equivalent to Lessor’s exercise of its right to reenter the Premises.

 

		10.3	Wavier of Default

 

No waiver of any condition or covenant of
this Lease by Lessor or Lessee shall be construed as constituting a waiver of any subsequent breach of any such condition or covenant
or as justification or authorization for the breach of any other covenant or condition of this Lease, nor shall the acceptance
of rent by Lessor at a time when Lessee is in default under any covenant or condition of this Lease by construed as a waiver of
such default or of any of Lessor’s rights, including, but not limited to, the right to terminate this Lease on account of
such default or as an estoppel against Lessor or be construed as an amendment to this Lease or as a waiver by Lessor of any other
right created herein or by law in favor of Lessor and against Lessee on account of such default

 

		11.	MECHANICS’ LIENS

 

The Lessee shall not permit any mechanics’,
laborers’, materialmens’ or other liens to stand against the Premises for any labor, machinery, material or fuel furnished
or claimed to have been furnished in connection with work of any character performed or claimed to have been performed on, or pertaining
to the Premises solely for Lessee or under Lessee’s control, whether such work was performed or materials furnished prior
to or subsequent to the commencement of the term of this Lease. If any such lien shall be filed or shall attach, the Lessee shall
promptly either pay the same or procure the discharge thereof by giving security or in such other manner as is required or permitted
by law. If Lessee fails to do so within thirty (30) days after receiving written notice from Lessor so to do, Lessor may procure
the discharge of such lien, by payment or otherwise, and may recover all costs and expenses of so doing from Lessee. Moreover,
Lessee shall indemnify and defend Lessor from and against all claims, demands and legal proceedings on account of such furnishing
or claimed furnishing of labor, machinery, material and fuel, and shall directly pay or reimburse Lessor for all costs and expenses
thereof, including, but not limited to attorney’s fees (to the extend permitted by law), bond premiums and court costs.

 

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		12.	QUIET ENJOYMENT

 

Upon Lessee’s paying the rent and performing
and observing the agreements and conditions on its part to be performed and observed, Lessee shall and may peaceably and quietly
have, hold, and enjoy the Premises during the term of this Lease without interference by Lessor or anyone claiming by, through
or under Lessor. However, Lessor shall not be liable for any damage or interference with use occasioned by or from (i) any plumbing,
gas, water or other pipes bursting or leaking, or (ii) water, snow or ice entering the building, unless such damage is caused by
Lessor’s gross negligence or willful misconduct.

 

		13.	RIGHT OF ENTRY

 

Lessor, its agents and employees shall have
the right, during Lessee’s working hours, and after reasonable notice to Lessee, to enter the Premises to view and inspect
the same and to perform any work therein which may be required or permitted of Lessor hereunder; provided, however, that Lessor,
its agents and employees shall in exercising such right not unreasonably interfere with the operation of Lessee’s business.
During the last six (6) months of the term (original or additional) of this Lease, or in the event of any default by Lessee, Lessor
may enter the Premises, show the Premises to prospective tenants, and advertise on the Premises for such purposes.

 

		14.	INDEMNITY

 

Lessor and Lessee (the “Indemnifying
Party”) will each indemnify and defend the other (the “Indemnified Party”) from any and all claims, liabilities,
damage or loss to persons (including loss of life) or property which may arise from the use of the Premises or from the conduct
or management of or from any work or thing done in or about the Premises by or on behalf of the Indemnifying Party or any employee,
agent, invitee or licensee of such Indemnifying Party, together with all costs, expenses and attorney’s fees incurred by
the Indemnified Party in connection with any such claim, demand, or legal proceeding arising therefrom brought against the Indemnified
Party.

 

		15.	SUBORDINATION, ATTORNMENT AND NON-SISTURBANCE

 

		15.1	Subordination and Attornment

 

This Lease shall, at Lessor’s option,
be subject, subordinate and inferior in lien to a mortgage that may hereafter be placed on the Premises, and Lessee will, upon
demand, without cost, execute any instrument necessary to effectuate such subordination. If, within five (5) days after submission
of such instrument, Lessee fails to execute same, Lessor is hereby authorized to execute same as attorney-in-fact, coupled with
an interest, for Lessee.

 

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		15.2	Non-Disturbance

 

Lessor shall use its best efforts to produce
from any such mortgage an agreement in writing in recordable form which shall be delivered to Lessee, providing in substance that
so long as Lessee is not in default in the payment of rental or any other covenants or conditions of this Lease, the rights of
the Lessee under this Lease shall not be terminated and the possession of the Lessee shall not be disturbed by the holder of any
such mortgage and that upon change of ownership through foreclosure or otherwise the purchases shall not disturb Lessee’s
peaceful possession for the Premises provided Lessee is to in default under this Lease.

 

		15.3	Estoppel Certificate

 

Within ten (10) days after request therefore
by Lessor, or in the event that upon any sale or assignment of the Premises and/or the land thereunder by Lessor an estoppel certificate
shall be required from Lessee, Lessee agrees to deliver in recordable form, a certificate to any proposed mortgagee or purchaser,
or to Lessor, certifying that this Lease is unmodified, and in full force and effect (or, if there have been modifications, that
the same is in full force and effect as modified, and stating the modifications), that there are no defenses or offsets thereto
(or stating those claimed by Lessee) and the dates to which Rent and other charges have been paid.

 

		16.	SECURITY DEPOSIT

 

Upon the execution of this Lease, Lessee shall
deposit with Lessor a sum equal to one month’s rent. Such sum shall be retuned to Lessee upon the expiration of this Lease
(including additional term, if any) provided Lessee shall have fully and faithfully carried out all of the terms, conditions and
covenants to be performed hereunder by Lessee. If the event of a sale, subject to this Lease, the Lessor may transfer such deposit
to the purchaser or its assignee for the account of Lessee. Lessee shall thereupon release Lessor from all liability for the return
of such deposit and shall look solely to such purchaser or assignee for the return of such deposit. If Lessee exercises its right
to purchase the Premises in accordance with this Lease, Lessor may apply the deposit provided for hereunder to the purchase price.

 

		17.	ASSIGNMENT, SUBLESE AND CHANGE OF ORGANIZATION

 

		17.1	Assignment and Sublease

 

Lessee shall not assign the Lease or any
of its benefits or burdens under this Lease, or sublet all or any part of the Premises, or permit all or any part of the Premises
to be used or occupied by anyone other that Lessee unless Lessee first obtains Lessor’s prior written consent. Lessor shall
not unreasonably withhold such consent so long as the character and use of the Premises are not changed as a result of such assignment,
subletting or permission, and if a substantial portion of the Premises is involved, so long as the assigner, sublessee or permitted
is at least as financially responsible as Lessee. Lessee shall be solely responsible for all brokers or finder’s fees which
might be incurred in connection with such assignment, sublease or permission and shall indemnify and defend Lessor against all
clams, loss and liability for such fees.

 

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		17.2	Change of Control

 

Lessee shall not terminate its existence,
be a party to any merger or consolidation in which Lessee is not the surviving entity, or permit the change of identify of its
principal officers responsible for the management of Lessee’s operations (each a “Change in Control”), without
first having obtained Lessor’s consent. Lessor shall not unreasonably withhold, delay or condition such consent. Upon any
such Change in Control to which Lessor does not consent, Lessor may, at its option, terminate this Lease upon ninety (90) days
written notice to Lessee.

 

		18.	NOTICES

 

All notices to Lessor shall be sent to 9932
Brookhill Circle, Twinsburg, OH 44087. All notices to Lessee shall be sent to 1300 East Street, Fairport Harbor, Ohio 44077. Either
party may at any time change the address to which notice shall be sent by advising the other party in writing of such change. Notice
shall be sent by Certified Mail, Postage Prepaid, Return Receipt Requested, and any such notice shall be deemed given when mailed
as provided in this section.

 

		19.	PARTIES BOUND AND BENEFITED

 

This Lease shall bind and benefit the parties
hereto, their successors, heirs and assigns. The words “Lessor” and “Lessee” in this Lease shall be construed
to include the parties named herein as Lessor and Lessee, respectively, and their respective successors, heirs and assigns. This
section shall not be construed to abridge, modify or remove the prohibitions or restriction on assignment, subleasing, permission
to occupy or similar acts contained elsewhere in this Lease.

 

		20.	RELATIONSHIP OF THE PARTIES

 

Nothing contained herein shall be deemed or
construed by the parties hereto nor by any third party as creating the relationship of principal and agent or of partnership or
of joint venture between the parties hereto, or any relationship between the parties hereto other than that of Lessor and Lessee.

 

		21.	MEMORANDUM OF LEASE

 

This Lease shall not be recorded, but, if
requested by either party, a Memorandum of Lease, setting forth a description of the Premises, the term and any renewal rights
hereof, and such other provisions hereof as may be required or appropriate for such purposes, excluding any reference to the rent
payable hereunder may be recorded. The cost of preparation and recording shall be borne by the party requesting same. In addition,
if requested by Lessor, Lessee shall execute a Discharge of the Memorandum of Lease, which will be held in escrow upon terms mutually
acceptable to the parties.

 

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		22.	LESSOR’S LIABILITY

 

In the event of any alleged default of Lessor,
Lessee shall not seek to secure any claim for damages or indemnification by any attachment, levy, judgment, garnishment or other
security proceedings against any property of the Lessor other than the Lessor’s equity in the Premises. Lessor, as used herein,
shall include any assignee or other successor of the original Lessor or its successors or assigns.

 

		23.	PARTIAL INVALIDITY

 

If any term, covenant or condition of this
Lease or the application thereof to any person or circumstance shall, to any extent, be invalid or unenforceable, the remainder
of this Lease, or the application of such term, covenant or condition to persons or circumstances other than those as to which
it is held to be invalid or unenforceable, shall not be affected thereby and each term, covenant or condition of this Lease shall
be valid and be enforced to the fullest extent permitted by law.

 

		24.	COUNTERPARTS

 

This Lease may be executed in any number of
counterparts, including by facsimile or electronic signature included in an Adobe PDF file, each of which shall be deemed to be
an original, but all of which together shall constitute one and the same instrument.

 

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IN WITNESS WHEREOF, Lessor and Lessee have
caused this Lease to be executed by their duly authorized corporate officers as of the day and year first above written.

 

	 	By:	/s/ Nicholas S. Tsengas
	As to Lessor:	Nicholas S. Tsengas, Manager
	 	SENK Properties, LLC
	 	 
	As to Lessee:	By:	/s/ Scott R. Mendes
	 	CFO Treasurer, OurPet’s Company

 

		STATE OF OHIO	)

		)	SS:

		COUNTY OF LAKE	)

 

The foregoing instrument was acknowledged before me this 7th
day of August 2012, by Scott R. Mendes on behalf of OurPet’s Company, a Colorado Corporation.

 

	Notary Public	/s/  Jamie McCullough	 

 

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		STATE OF OHIO	)

		)	SS:

		COUNT OF SUMMIT	)

 

The foregoing instrument was acknowledged
before me this _____day of ___________, ______, by Nicholas S. Tsengas, General Partner, on behalf of SENK Properties
Partnership.

 

	 	 
	Witnesses	 
	 	Notary Public
	 	 
	Witnesses	 

 

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EXHIBIT A

 

Situated in the Village of Fairport Harbor,
County of Lake and State of Ohio and known as being part of Lots 8 and 9, Tract No. 4 and part of Samuel Fowler Lot in said Village
and bounded and described as follows:

 

Beginning in the centerline of East Street,
(60 feet wide) at a point where said centerline is intersected by the centerline of St. Clair Street (60 feet wide); Thence South
87 degrees 23’East along the centerline of said St. Clair Street, a distance of 600.00 feet to a point; Thence South 2 degrees
37’ West, a distance of 332.890 feet to the Northerly line of land conveyed to Fairport Village by deed recorded in Volume
402, Page 330 of Lake County Records of Deeds; Thence South 85 degrees 18’ West along the Northerly line of land so conveyed,
a distance of 552.73 feet to the centerline of East Street; Thence North 4 degrees 4 degrees 42’ West along the centerline
of East Street, a distance of 406.50 feet to the place of beginning, and containing 4.8710 acres of land be the same more or less,
but subject to all legal highways. 

 

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