Document:

Exhibit 10.5

 

ASSIGNMENT OF OWNERSHIP INTERESTS

 

This ASSIGNMENT OF OWNERSHIP
INTERESTS (the “Assignment”) is entered into effective as of November 12, 2021 by MANUFACTURED HOUSING PROPERTIES
INC., a Nevada corporation, with an address for notice of 136 Main Street, Pineville, North Carolina 28134 (“Grantor”),
in favor of FIRSTBANK, a Tennessee banking corporation, whose address is 520 W.
Summit Hill Dr., Suite 801, Knoxville, TN 37902 (“Lender”).

 

RECITALS

 

A. SPRINGLAKE
MHP LLC, a Georgia limited liability company (“Borrower”), is indebted to Lender pursuant to a loan (“Loan”)
evidenced, governed, and/or secured by the following (collectively, the “Loan Documents”): (i) that certain Promissory
Note (“Note”) dated of even date herewith from Borrower to Lender in the principal amount of $4,016,250.00; (ii) that
certain Loan Agreement (“Loan Agreement”) dated of even date herewith by and between Borrower and Lender; and (iii) those
Loan Documents (as defined in the Loan Agreement), all as the same may from time to time be amended, restated, modified, consolidated,
renewed or replaced.

 

B. Grantor
is the sole member of Borrower.

 

C. Lender
would not extend the credit evidenced by the Note without Grantor pledging as collateral its ownership interests in Borrower in order
to secure the prompt and complete performance of all of the obligations and payment of all of the indebtedness under the Note and other
Loan Documents (all such obligations and indebtedness are hereinafter referred to collectively as the “Liabilities”).

 

NOW, THEREFORE, in consideration
of the covenants contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
the parties agree as follows:

 

1. Defined
Terms. As used in this Assignment, the following terms shall have the following meanings:

 

(a) “Code”
shall mean the Uniform Commercial Code as the same may from time to time be in effect in the State of Tennessee.

 

(b) “Governing
Agreement” or “Governing Agreements” shall refer to, depending on Borrower’s form of organization, (i)  Borrower’s
bylaws, operating agreement, partnership agreement, or like document, in each case, together with any and all other voting agreements
or other documents evidencing any agreement between the holders of the ownership interests of Borrower and Borrower’s interests therein,
and any amendments or modifications to any of the foregoing, and (ii) Borrower’s charter, articles of organization, certificate of
limited partnership, statement of partnership authority, or like document evidencing the formation and/or the holders of the ownership
interests of Borrower, and any amendments or modifications to any of the foregoing, all in accordance with the terms of this Assignment.

 

(c) “Proceeds”
shall mean “proceeds,” as such term is defined in the Code and shall include, but not be limited to: (i) any and all
payments (in any form whatsoever) made or due and payable to Grantor from time to time in connection with any condemnation, seizure or
forfeiture of all or any part of the Pledged Interests (as hereinafter defined) by any governmental body, authority, bureau or agency
(or any person acting under color of governmental authority); (ii) any and all amounts paid or payable to Grantor for or in connection
with any sale or other disposition of a Grantor’s interest in Borrower; and (iii) any and all other amounts from time to time paid
or payable under or in connection with any of the Pledged Interests.

 

     

     

    

 

2. Grant
of Security Interest. As security for the prompt and complete payment and performance when due of the Liabilities, Grantor hereby
grants to Lender a security interest in and pledges to Lender all of the following (each of which is referred to individually as a “Pledged
Interest” and collectively as the “Pledged Interests”):

 

(a) all
of Grantor’s right, title and interest as an owner in Borrower to receive distributions at any time or from time to time of cash and other
property, real, personal or mixed, from Borrower upon complete or partial liquidation or otherwise;

 

(b) all
of Grantor’s right, title and interest, if any, in Borrower’s property;

 

(c) all
of Grantor’s right, title and interest, if any, to participate in the management and voting of Borrower;

 

(d) all
of Grantor’s right, title and interest in and to: (i) all rights, privileges, authority and power of Grantor as owner or holder of
the items specified in (a), (b) and (c) above, including, but not limited to, all contract rights related thereto; (ii) all options
and other agreements for the purchase or acquisition of any interests in Borrower; and (iii) any document or certificate representing
or evidencing Grantor’s rights and interests in Borrower; and

 

(e) to
the extent not otherwise included, all proceeds and products of any of the foregoing.

 

3. Representations
and Warranties. Grantor represents and warrants that:

 

(a) Grantor
is the sole member of Borrower and the sole owner of such Grantor’s Pledged Interest, free and clear of any and all liens and claims whatsoever
except for the security interest granted to Lender pursuant to this Assignment. No other person has control of any of Pledged Interest.

 

(b) Except
as set forth in the Loan Agreement, no security agreement, financing statement, assignment, equivalent security or lien instrument or
continuation statement covering all or any part of the Pledged Interests is on file or of record in any public office or in the records
of Borrower, as applicable, except financing statements with respect to the Pledged Interests filed by Lender pursuant to this Assignment.

 

(c) Upon
the filing of all appropriate financing statements under the Code, all steps necessary to create and perfect the security interest(s)
created by this Assignment as a valid and continuing first lien on and first perfected security interest in the Pledged Interests in favor
of Lender, prior to all other liens, security interests and other claims of any sort whatsoever against such Pledged Interests, will have
been taken.

 

(d) Grantor
has not changed its name, or used, adopted or discontinued the use of any fictitious name.

 

(e) Grantor
has all power, statutory and otherwise, to execute and deliver this Assignment, to perform Grantor’s obligations hereunder and to subject
its Pledged Interests to the security interest created hereby, all of which has been duly authorized by all necessary action.

 

(f) No
amendments or supplements have been made to any Governing Agreement of Borrower since it was originally entered into which would have
a material and adverse effect on Grantor’s ability to perform its obligations under this Assignment; each Governing Agreement of Borrower
remains in effect; and no party to a Governing Agreement of Borrower is presently in default thereunder.

 

    2

     

    

 

(g) Grantor
has the right to transfer all or any part of the Pledged Interests free of any lien or encumbrance.

 

(h) No
authorization, approval, or other action by, and no notice to or filing with, any governmental authority or regulatory body is required
for (i) Grantor’s granting of a security interest in its Pledged Interests pursuant to this Assignment, (ii) the execution,
delivery or performance of this Assignment by Grantor, (iii) the perfection of the security interest granted hereby (other than financing
statements with respect to the Pledged Interests filed by Lender pursuant to this Assignment), or (iv) the exercise by Lender of
the rights provided for in this Assignment or the remedies in respect of the Pledged Interests pursuant to this Assignment (except as
may be required in connection with such disposition by laws affecting the offering and sale of securities generally).

 

(i) Upon
the transfer of the Pledged Interests, or any portion thereof, to any party pursuant to Section 10 below, Borrower shall continue in existence.

 

(j) As
of the date hereof, there are no certificates, instruments or other documents evidencing any of Grantor’s Pledged Interest other than
the Governing Agreements of Borrower.

 

4. Covenants.
Grantor covenants and agrees that from and after the date of this Assignment and until the Liabilities are fully satisfied:

 

(a) Further
Documentation; Pledge of Instruments. At any time and from time to time, upon the written request of Lender, and at the sole expense
of Grantor, Grantor will promptly and duly execute and deliver any and all such further instruments and documents and take such further
actions as Lender may reasonably deem necessary to obtain the full benefits of this Assignment and of the rights and powers herein granted,
including, without limitation, the execution and filing of any financing or continuation statements under the Code with respect to the
security interest granted hereby and, if otherwise required hereunder, transferring Pledged Interests to the possession of Lender (if
a security interest in such Pledged Interests can be perfected by possession) or taking any action to obtain exclusive control of any
Pledged Interests owned by Grantor in a manner acceptable to Lender (including a written confirmation of Lender’s “control”
over such Pledged Interests as such term is defined in Article 9 of the Code or any other then-applicable provision of the Code). Grantor
also hereby authorizes Lender to file any such financing or continuation statements without the signature of Grantor to the extent permitted
by the Code or other applicable law. If any amount payable under or in connection with any of the Pledged Interests shall be or become
evidenced by any promissory note, certificate or other instrument (other than an instrument which constitutes chattel paper under the
Code), such note or instrument shall be immediately pledged hereunder and a security interest therein granted to Lender and shall be duly
endorsed in a manner satisfactory to Lender and delivered to Lender. If at any time Grantor’s right or interest in any of the Pledged
Interests becomes an interest in real property, Grantor promptly shall execute, acknowledge and deliver to Lender such further documents
as Lender reasonably deems necessary or advisable to create a first priority perfected mortgage lien in favor of Lender in such real property
interest.

 

(b) Priority
of Liens. Grantor will defend the right, title and interest hereunder of Lender as a first priority security interest in the Pledged
Interests against the claims and demands of all persons whomsoever.

 

    3

     

    

 

(c) Notices.
Grantor will advise Lender promptly, in reasonable detail: (i) of any lien, security interest, encumbrance or claim made or asserted
in writing against any of the Pledged Interests; (ii) of any distribution of cash or other property by Borrower in complete or partial
liquidation of the Pledged Interests; and (iii) of the occurrence of any other event which would have a material adverse effect on
the aggregate value of the Pledged Interests or the security interest created hereunder, including the priority thereof.

 

(d) Continuous
Perfection. Grantor will not file or authorize the filing on Grantor’s behalf of any financing statement naming Grantor as debtor
covering all or any portion of the Pledged Interests, except financing statements naming Lender as secured party.

 

(e) Place
of Formation; Continuous Existence. Grantor will not change its state of formation unless Grantor has previously notified Lender thereof
and taken such action as is necessary or reasonably requested by Lender to cause the security interest of Lender in the Pledged Interests
to continue to be perfected.

 

(f) Transfer
of Assets. Grantor will not directly or indirectly sell, pledge, mortgage, assign, transfer, or otherwise dispose of or create or
suffer to be created any lien, security interest or encumbrance on any of the Pledged Interests.

 

(g) Performance
of Obligations. Grantor will perform all of Grantor’s material obligations under the Governing Agreements prior to the time that any
interest or penalty would attach against Grantor or any of the Pledged Interests as a result of Grantor’s failure to perform any of such
obligations, and Grantor will do all things necessary to maintain the good standing of Borrower under the laws of the jurisdiction of
organization for such entities.

 

(h) Governing
Agreements. Grantor will not: (i) suffer or permit any amendment or modification of any Governing Agreement which would have
a material adverse effect on Grantor’s ability to perform its obligations under this Assignment without the prior written consent of Lender;
or (ii) withdraw as an owner of Borrower; or (iii) waive, release, or compromise any material rights or claims Grantor may have against
any other party which arise under any Governing Agreement. Grantor will not vote under any Governing Agreement to cause Borrower to dissolve,
liquidate, merge or consolidate with any other entity or take any other action under a Governing Agreement that would materially adversely
affect the security interest created by this Assignment, including without limitation the value or priority thereof, or to cause Borrower
to elect to have Grantor’s ownership interests conferred under the Governing Agreement be governed under Article 8 of the Code. Grantor
will not permit, suffer or otherwise consent to the modification or redemption of existing interests in Borrower or the issuance of any
new or additional interests, or options to acquire interests, in Borrower.

 

(i) Entity
Records. Grantor shall cause Borrower to make a notation on its books and records indicating the security interest granted hereby.

 

(j) Uncertificated
Securities. If at any time any Pledged Interest constitutes a “security” as defined in Article 8 of the Code, Grantor shall,
or shall permit Lender to, promptly take all action necessary or appropriate to cause Lender to have sole and exclusive “control”
over the Pledged Interests, as such term is defined in Article 9 of the Code (or any other then-applicable provision of the Code).

 

    4

     

    

 

5. Grantor’s
Powers.

 

(a) So
long as an uncured “Event of Default” (as hereinafter defined) shall not then exist, Grantor shall be the sole party entitled
(i) to exercise any and all voting rights and powers of Borrower, and (ii) to receive any and all distributions, in each case
arising from or relating to Grantor’s Pledged Interest; provided, however, that Grantor shall not exercise such rights or powers, or consent
to any action of Borrower that would be in contravention of the provisions of, or constitute an Event of Default under, this Assignment
or any of the other Loan Documents.

 

(b) Upon
the occurrence and during the continuance of an Event of Default, unless Lender designates in writing to Grantor to the contrary, all
rights of Grantor provided in Section 5(a) hereof shall cease, and all voting rights and powers that Grantor has in Borrower and all distributions
and rights to distributions included in the Pledged Interests or otherwise described in Section 5(a) shall become vested in Lender, and
Lender shall have the sole and exclusive right and authority to exercise such rights and powers thereafter. Grantor agrees that Borrower
and any third party may rely conclusively upon any notice from Lender that an Event of Default exists and therefore Lender has the right
and authority to exercise all rights and powers of Grantor. Grantor irrevocably waives any claim or cause of action against any party
who deals directly with Lender following receipt of such notice from Lender.

 

6. Lender’s
Appointment as Attorney-in-Fact.

 

(a) Grantor
hereby irrevocably constitutes and appoints Lender and each officer or agent of Lender with full power of substitution, as Grantor’s true
and lawful attorney-in-fact with full irrevocable power and authority in the place and stead of Grantor and in the name of Grantor or
in such attorney-in-fact’s own name, from time to time in the discretion of each such attorney-in-fact following the occurrence and during
the continuance of an Event of Default, for the purpose of carrying out the terms of this Assignment, to take any and all appropriate
action and to execute any and all documents and instruments which may be necessary or desirable to accomplish the purposes of this Assignment
and, without limiting the generality of the foregoing, hereby gives each such attorney-in-fact the power and right, from and after an
Event of Default, without notice to or assent by Grantor, to do the following on behalf of Grantor:

 

(i) to
collect and otherwise take possession of and title to any and all distributions of cash or other property due or distributable at any
time after the date hereof to Grantor as an owner from Borrower, whether in complete or partial liquidation or otherwise, to prosecute
or defend any action or proceeding in any court of law or equity, to convert any non-cash distributions to cash, and to apply any such
cash distributions, interest or proceeds of conversion in the manner specified in Section 10(d) of this Assignment;

 

(ii) to
ask, demand, collect, receive and give acceptances and receipts for any and all moneys due and to become due under any of Grantor’s Pledged
Interests and, in the name of Grantor or such attorney-in-fact’s own name or otherwise, to take possession of and endorse and collect
any checks, drafts, notes, acceptances or other instruments for the payment of moneys due under any of Grantor’s Pledged Interests;

 

(iii) to
pay or discharge taxes, liens, security interests or other encumbrances levied or placed on or threatened against the Pledged Interests;
and

 

    5

     

    

 

(iv) (A) to
direct any party liable for any payment under any of Grantor’s Pledged Interests to make payment of any and all moneys due and to become
due thereunder directly to Lender or as such attorney-in-fact shall direct; (B) to receive payment of and receipt for any and all
moneys, claims and other amounts due and to become due at any time in respect of or arising out of any Pledged Interests; (C) to
commence, prosecute or settle any suits, actions or proceedings at law or in equity in any court of competent jurisdiction to collect
the Pledged Interests or any portion thereof and to enforce any other right in respect of any of Grantor’s Pledged Interests; (D) to
defend or settle any suit, action or proceeding brought against Grantor with respect to any Pledged Interests; and (E) generally
to sell, transfer, pledge, make any agreement with respect to or otherwise deal with any of Grantor’s Pledged Interests as fully and completely
as though such attorney-in-fact were the absolute owner thereof for all purposes, and to do, at the option of such attorney-in-fact at
Grantor’s expense, at any time, or from time to time, all acts and things which such attorney-in-fact reasonably deems necessary to protect,
preserve or realize upon the Pledged Interests and the security interest of Lender therein, in order to effect the intent of this Assignment,
all as fully and effectively as Grantor might do.

 

(b) Grantor
hereby ratifies, to the extent permitted by law, all that said attorney shall lawfully do or cause to be done by virtue hereof. This power
of attorney is a power coupled with an interest and shall be irrevocable.

 

(c) Grantor
also authorizes and grants a power of attorney to Lender and each officer or agent of Lender at any time and from time to time upon the
occurrence and during the continuance of any Event of Default, to execute, in connection with the sale provided for in Section 10 of this
Assignment, any endorsements, assignments or other instruments of conveyance or transfer with respect to any of the Pledged Interests.
Such power of attorney is deemed irrevocable and is coupled with a legal interest.

 

7. Distributions.
Following and during the existence of an Event of Default, Grantor hereby grants Lender full irrevocable power and authority to receive
and hold at any such time cash and non-cash distributions by Borrower on account of any of Grantor’s Pledged Interests (together with
all interest, if any, earned thereon), which may be held free and clear of the liens created hereby, and to convert any such non-cash
distributions to cash, and to apply any such cash distributions, interest or proceeds of conversion in the manner specified in Section
10(d) of this Assignment.

 

8. Performance
by Lender of Grantor’s Obligations. If Grantor fails to perform or comply with any of Grantor’s agreements contained herein (after
the expiration of the applicable notice and cure period provided in the Loan Agreement) and Lender as provided for by the terms of this
Assignment shall itself perform or comply, or otherwise cause performance or compliance, with such agreement, the expenses of Lender incurred
in connection with such performance or compliance, together with interest thereon at the rate following a default specified in the Note
in effect from time to time shall be payable by Grantor to Lender on demand and shall constitute Liabilities secured hereby.

 

9. Default.
Any of the following shall constitute an “Event of Default” hereunder:

 

(a) A
failure by Grantor to pay any payment when due and owing under this Assignment and such failure is not remedied within ten (10) calendar
days after written notice thereof is given to Grantor.

 

(b) A
failure by Grantor to observe or perform any non-monetary obligation, covenant, condition, or agreement hereof to be performed by Grantor
(subject to the same notice and cure periods provided for in the Loan Documents with respect to non-monetary defaults).

 

(c) Any
representation or warranty made by Grantor in this Assignment is not true and correct in any material respect as of the date made.

 

    6

     

    

 

(d) Lender
shall receive, at any time following the date hereof, an official report indicating that Lender’s security interest in the Pledged Interests
is not prior to all other security interests reflected in such report (subject to applicable notice and cure periods).

 

(e) The
occurrence of any “Event of Default” under any Loan Document (subject to applicable notice and cure periods).

 

10. Remedies
and Rights Upon Event of Default.

 

(a) Upon
the occurrence and during the continuance of any Event of Default, Lender or Lender’s designee may, at Lender’s option, elect to become
a substituted member in Borrower with respect to the Pledged Interests and Grantor shall execute or cause to be executed all documents
necessary to evidence Lender so becoming a substituted member. If any Event of Default shall occur and be continuing, Lender or Lender’s
designee may exercise in addition to all other rights and remedies granted to them in this Assignment and in any other instrument or agreement
securing, evidencing or relating to the Liabilities, all rights and remedies of a secured party under the Code. Without limiting the generality
of the foregoing, Grantor expressly agrees that in any such event Lender, without demand of performance or other demand, advertisement
or notice of any kind (except the notice specified below of time and place of public or private sale) to or upon Grantor or any other
person (all and each of which demands, advertisements and/or notices are hereby expressly waived), may collect, receive, appropriate and
realize upon the Pledged Interests, or any part thereof, and/or may sell, assign, give option or options to purchase, or sell or otherwise
dispose of and deliver said Pledged Interests (or contract to do so), or any part thereof, at public or private sale or sales, at any
exchange or broker’s board or at any of Lender’s offices or elsewhere at such prices as it may deem best, for cash or on credit or for
future delivery without the assumption of any credit risk. Grantor expressly acknowledges that private sales may be less favorable to
a seller than public sales but that private sales shall nevertheless be deemed commercially reasonable and otherwise permitted hereunder.
Lender or Lender’s designee shall have the right upon any such public sale or sales, and, to the extent permitted by law, upon any such
private sale or sales, to purchase the whole or any part of said Pledged Interests so sold, free of any right or equity of redemption,
which equity of redemption Grantor hereby waives and releases. At the request of Lender, Grantor agrees to deliver to Lender or any purchaser
or purchasers of the Pledged Interests any agreements, instruments and other documents evidencing or relating to the Pledged Interests.
Lender shall apply the net proceeds of any such collection, enforcement, sale or other disposition of, or realization upon all or any
part of the Pledged Interests as provided in Section 10(d) of this Assignment. Only after so applying such net proceeds and after the
payment by Lender of any other amount required by any provision of law, including Section 9-615(a)(3) of the Code (or any other then-applicable
provision of the Code), need Lender account for the surplus, if any, to the applicable Grantor. To the extent permitted by applicable
law, Grantor waives all claims, damages, and demands against Lender arising out of the disposition, repossession or retention of the Pledged
Interests. Grantor agrees that to the extent notice of sale shall be required by law, a reasonable authenticated notification of disposition
shall be notification given at least ten (10) business days prior to any such sale, provided, however, that no notification need be given
to either Grantor if Grantor authenticated after default a statement renouncing or modifying any right to notification of sale or other
intended disposition (such notification shall be deemed given when mailed or delivered on an overnight basis, postage prepaid, addressed
to Grantor at Grantor’s address referred to in Section 12 hereof) of the time and place of any public sale or of the time after which
a private sale may take place and that such notice is reasonable notification of such matters.

 

(b) Grantor
also agrees to pay all reasonable costs of Lender, including reasonable attorneys’ fees and expenses, incurred with respect to the collection,
enforcement, retaking, holding, preparing for disposition, processing and disposing of the Pledged Interests, collection of any of the
Liabilities or the enforcement of any of Lender’s rights hereunder.

 

    7

     

    

 

(c) Grantor
hereby waives presentment, demand, or protest (to the extent permitted by applicable law) of any kind in connection with this Assignment
or any Pledged Interest. Except for notices expressly provided for herein, Grantor hereby waives notice (to the extent permitted by applicable
law) of any kind in connection with this Assignment.

 

(d) The
proceeds of any sale, disposition or other realization upon all or any part of the Pledged Interests shall be distributed by Lender in
the following order of priorities:

 

(i) first,
to Lender in an amount sufficient to pay in full the reasonable expenses of Lender in connection with such sale, disposition or other
realization, including all reasonable expenses, liabilities and advances incurred or made by Lender in connection therewith, including
reasonable attorneys’ fees and expenses;

 

(ii) second,
to Lender until the other Liabilities are paid in full; and

 

(iii) finally,
upon payment in full of all of the Liabilities, to Grantor, or such party’s representative or as a court of competent jurisdiction may
direct.

 

Grantor agrees to indemnify
and hold harmless Lender, its directors, officers, employees, agents and parent, and subsidiary corporations, and each of them, from and
against any and all liabilities, obligations, claims, damages, or expenses incurred by any of them arising out of or by reason of entering
into this Assignment or the consummation of the pledge and grant of security interest contemplated by this Assignment (excluding any and
all liabilities, obligations, claims, damages and expenses caused by Lender’s gross negligence or willful misconduct) and to pay or reimburse
Lender for the reasonable fees and disbursements of counsel incurred in connection with any investigation, litigation or other proceedings
(whether or not Lender is a party thereto) arising out of or by reason of any of the aforesaid. Any amounts properly due under this Section
10 shall be payable to Lender immediately upon demand.

 

11. Limitation
on Lender’s Duty in Respect of Pledged Interests. Except as expressly provided in the Code, Lender shall have no duties concerning
the custody and preservation of any of the Pledged Interests in its possession or control, or in the possession or control of any agent
or nominee of Lender, or as to any income thereon or as to the preservation of rights against prior parties or any other rights pertaining
thereto.

 

12. Notices.
Any notice and other communication required or permitted hereunder shall be delivered in accordance with the Loan Agreement to the
address first above written.

 

13. Severability.
Any provision of this Assignment that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective
to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or
unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

 

14. No
Waiver; Cumulative Remedies. Lender shall not, by any act, delay, omission or otherwise, be deemed to have waived any of its rights
or remedies hereunder. No waiver hereunder shall be valid unless in writing signed by the party to be charged with such waiver and then
only to the extent therein set forth. A waiver of any right or remedy hereunder on any one occasion shall not be construed as a bar to
any right or remedy that Lender would otherwise have had on any future occasion. No failure to exercise nor any delay in exercising on
the part of Lender any right, power or privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise
of any right, power or privilege hereunder preclude any other or future exercise thereof or the exercise of any other right, power or
privilege. The rights and remedies provided hereunder and under the other Loan Documents are cumulative and may be exercised singly or
concurrently, and are not exclusive of any rights and remedies provided by law. Lender may resort to and realize on the Pledged Interests
simultaneously with any acts or proceedings initiated by Lender in its sole and conclusive discretion to resort to or realize upon any
other sources of repayment of the Liabilities, including, but not limited to, collateral granted by other security agreements and the
personal liability of either Grantor and any person or corporation which has guaranteed repayment of the Liabilities. None of the terms
or provisions of this Assignment may be waived, altered, modified or amended except by an instrument in writing, duly executed by Grantor
and Lender. This Assignment can be executed in counterparts.

 

    8

     

    

 

15. Successors
and Assigns. This Assignment and all obligations of Grantor hereunder shall be binding upon the successors and assigns of Grantor,
except that Grantor shall not have the right to assign its rights hereunder or any interest herein without the prior written consent of
Lender and shall, together with the rights and remedies of Lender hereunder, inure to the benefit of Lender and its respective participants,
successors and assigns. Neither this Assignment nor anything set forth herein is intended to, nor shall it, confer any rights on any person
or entity other than the parties hereto and all third party rights are expressly negated.

 

16. Termination.
This Assignment, and the assignments, pledges and security interests created or granted hereby, shall terminate when the Liabilities shall
have been fully paid and satisfied, at which time Lender shall release, reassign and deliver to Grantor the applicable Pledged Interests
and related documents then in the possession of Lender, including termination statements under the Code, all without recourse upon, or
warranty whatsoever, by Lender and at the cost and expense of Grantor.

 

17. Injunctive
Relief. Grantor recognizes that in the event Grantor fails to perform, observe or discharge any of Grantor’s obligations hereunder
(after the expiration of applicable notice and cure periods as provided for in the Loan Agreement), no remedy of law will provide adequate
relief to Lender, and agrees that Lender shall be entitled to temporary and permanent injunctive relief in any such case without the necessity
of proving actual damages.

 

18. Waiver
of Subrogation. Grantor shall have no rights of subrogation as to any of the Pledged Interests until full and complete performance
and payment of the Liabilities.

 

19. Governing
Law. This Assignment shall be governed by and construed in accordance with the laws of the State of Tennessee.

 

20.Venue. Grantor
does further consent to and agree that any action for the enforcement of this Assignment may be brought in the courts of the State of
Tennessee sitting in Knox County, Tennessee or any Federal court sitting in Knox County, Tennessee and consents to the non-exclusive jurisdiction
of such courts. Grantor hereby waives any objection that they may now or hereafter have to the venue of any such action or any such court
or that suit is brought in an inconvenient court.

 

21. Waiver
of Jury Trial. GRANTOR HEREBY WAIVES THEIR RESPECTIVE RIGHTS TO A TRIAL BY JURY IN ANY ACTION OR PROCEEDING BASED UPON, OR RELATED
TO, THE SUBJECT MATTER OF THIS ASSIGNMENT AND THE BUSINESS RELATIONSHIP THAT IS BEING ESTABLISHED. THIS WAIVER IS KNOWINGLY, INTENTIONALLY
AND VOLUNTARILY MADE BY GRANTOR, AND GRANTOR ACKNOWLEDGES THAT NEITHER LENDER NOR ANY PERSON ACTING ON BEHALF OF LENDER HAS MADE ANY REPRESENTATIONS
OF FACT TO INDUCE THIS WAIVER OF TRIAL BY JURY OR IN ANY WAY TO MODIFY OR NULLIFY ITS EFFECT. GRANTOR ACKNOWLEDGES THAT THIS WAIVER IS
A MATERIAL INDUCEMENT TO ENTER INTO A BUSINESS RELATIONSHIP, THAT EACH OF THEM HAS ALREADY RELIED ON THIS WAIVER IN ENTERING INTO THIS
ASSIGNMENT AND THAT EACH OF THEM WILL CONTINUE TO RELY ON THIS WAIVER IN THEIR RELATED FUTURE DEALINGS. GRANTOR FURTHER ACKNOWLEDGES THAT
THEY HAVE BEEN REPRESENTED (OR HAVE HAD THE OPPORTUNITY TO BE REPRESENTED) IN THE SIGNING OF THIS ASSIGNMENT AND IN THE MAKING OF THIS
WAIVER BY INDEPENDENT LEGAL COUNSEL.

 

22. Electronic
Transmission. The parties agree that if a paper original of this Assignment executed by one or more of the parties (an “Executed
Copy”) is sent by electronic transmission, (i) the Executed Copy shall be treated in all respects as a paper original of this
Assignment executed by the same parties whose signatures appear on the Executed Copy and (ii) the Executed Copy shall have the same binding
and legal effect as a paper original of this Assignment executed by the same parties whose signatures appear on the Executed Copy. At
the request of any party who receives an Executed Copy, this Assignment shall be re-executed by the parties who signed the Executed Copy
and the executed paper original Assignment shall be sent to the requesting party by any method permitted herein other than by electronic
transmission. Each of the parties further agree that it will not raise the transmission of this Assignment or the Executed Copy by electronic
transmission as a defense in any proceeding or action in which the validity of this Assignment is at issue and hereby forever waives such
defense. “Electronic transmission” means any form of communication, such as facsimile or email, not directly involving
the physical transmission of actual paper, which creates a record of the actual paper that may be retained, retrieved, reviewed and printed
by the recipient.

 

[Signature page follows]

 

    9

     

    

 

IN WITNESS WHEREOF, Grantor
has executed this Assignment of Ownership Interests as of the date first above written.

 

	 	GRANTOR:
	 	 
	 	MANUFACTURED
    HOUSING PROPERTIES, INC.
	 	 
	 	By: 	/s/ Michael Z. Anise
	 	 	Michael Z. Anise, President

 

	STATE OF	North Carolina	)
	COUNTY OF	Mecklenburg	)

 

Before me, the undersigned,
a Notary Public of said County and State, personally appeared Michael Z. Anise, with whom I am personally acquainted (or proved
to me on the basis of satisfactory evidence), and who, upon oath, acknowledged himself to be the President of MANUFACTURED HOUSING
PROPERTIES, INC., a Nevada limited liability company, the within named Grantor, and that he in such capacity, being authorized so
to do, executed the foregoing instrument for the purposes therein contained, by signing the name of the Grantor in such capacity.

 

Witness my hand and seal, this 10 day
of November, 2021.

 

	 	/s/ Jonathan
    Visconti
	 	Notary Public

 

My
Commission Expires: 03/15/2022

 

 

10Exhibit 10.6

 

GUARANTY

 

THIS GUARANTY (“Guaranty”)
is entered into effective as of November 12, 2021 by MANUFACTURED HOUSING PROPERTIES INC., a Nevada limited liability company
(“Guarantor,” whether one or more), with an address for notice of 136 Main Street, Pineville, NC 28134, for the benefit
of FIRSTBANK, a Tennessee banking corporation, and its successors and assigns (“Lender”), with an address for
notice of 520 W. Summit Hill Drive, Suite 801, Knoxville, Tennessee 37902.

 

A. Springlake
MHP LLC, a Georgia limited liability company (“Borrower”), is indebted to Lender pursuant to the following loan (“Loan”):
(i) that certain Promissory Note (“Note”) dated of even date herewith from Borrower to Lender in the principal amount
of $4,016,250.00; (ii) that certain Loan and Security Agreement (“Loan Agreement”) dated of even date herewith by and
between Borrower, Lender, and the other parties thereto; and (iii) those Loan Documents (as defined in the Loan Agreement) (herein “Loan
Documents”), all as the same may from time to time be amended, restated, modified, consolidated, renewed or replaced.

 

B. Lender
is not willing to make the Loan, or otherwise extend credit, to Borrower unless Guarantor unconditionally guarantees payment and performance
to Lender of the Guaranteed Obligations (defined below).

 

C. Guarantor
is the owner of a direct or indirect interest in Borrower, and Guarantor will directly benefit from Lender’s making the Loan to Borrower.

 

NOW, THEREFORE, as an inducement
to Lender to make the Loan to Borrower, and to extend such additional credit as Lender may from time to time agree to extend under the
Note, the Loan Agreement, and the Loan Documents, and for other good and valuable consideration, the receipt and legal sufficiency of
which are hereby acknowledged, the parties hereby agree as follows.

 

1. Continuing
Guaranty. Guarantor hereby irrevocably and unconditionally guarantees to Lender (and its successors and assigns), jointly and severally,
the payment and performance of the Guaranteed Obligations as and when due and payable, whether by lapse of time, by acceleration of maturity
or otherwise. Guarantor hereby irrevocably and unconditionally covenants and agrees that Guarantor is jointly and severally liable for
the Guaranteed Obligations as a primary obligor, and that Guarantor shall fully perform, jointly and severally, each and every term and
provision hereof.

 

2. Guaranteed
Obligations. For the purposes of this Guaranty, “Guaranteed Obligations” is used in its most comprehensive sense
and means and includes any and all of Borrower’s obligations to make any payment and perform any obligation to Lender pursuant to the
Note or the Loan Documents, whether now existing or hereinafter incurred or created, including all outstanding principal and all accrued
but unpaid interest (including any late charges and default interest) owing under the Note plus all fees, costs, and expenses (including
reasonable attorney’s fees) incurred by or on behalf of Lender in connection with the Loan.

 

     

    	 

    

 

3. Nature
of Guaranty; Joint and Several Obligation. Guarantor’s liability under this Guaranty shall be open and continuous for so long as this
Guaranty remains in force. Guarantor intends to guarantee at all times the performance and prompt payment when due, whether at maturity
or earlier by reason of acceleration or otherwise, of all Guaranteed Obligations. Accordingly, no payments made upon the Guaranteed Obligations
will discharge or diminish the continuing liability of Guarantor in connection with any remaining portions of the Guaranteed Obligations
or any portion of the Guaranteed Obligations that subsequently arises or is thereafter incurred or contracted. Guarantor recognizes that
there may be other guarantors of certain of the Guaranteed Obligations and that Guarantor’s liability hereunder is joint and several with
respect to such other Guarantors.

 

4. Duration
of Guaranty. This Guaranty will take effect when received by Lender without the necessity of any acceptance by Lender, or any notice
to Guarantor or to Borrower, and will continue in full force until all Guaranteed Obligations incurred or contracted before receipt by
Lender of any notice of revocation shall have been fully and finally paid and satisfied and all other obligations of Guarantor under this
Guaranty shall have been performed in full. This Guaranty will continue to bind Guarantor for all Guaranteed Obligations incurred by Borrower
or committed by Lender prior to receipt of Guarantor’s written notice of revocation, including any extensions, renewals, substitutions
or modifications of the Guaranteed Obligations. All renewals, extensions, substitutions and modifications of the Guaranteed Obligations
granted after Guarantor’s revocation, are contemplated under this Guaranty and, specifically will not be considered to be new Guaranteed
Obligations. This Guaranty shall bind the estate of Guarantor as to any Guaranteed Obligations created both before and after the death
or incapacity of Guarantor, regardless of Lender’s actual notice of Guarantor’s death. Release of any other guarantor or termination of
any other guaranty of the Guaranteed Obligations shall not affect the liability of Guarantor under this Guaranty. A revocation received
by Lender from any one or more Guarantors, shall not affect the liability of any remaining Guarantor under this Guaranty. This Guaranty
is binding upon Guarantor and Guarantor’s heirs, estate, successors and assigns so long as any of the Guaranteed Obligations remain unpaid
and even though the Guaranteed Obligations may from time to time be zero dollars ($0.00).

 

5. Guarantor’s
Authorization to Lender. Guarantor authorizes Lender, either before or after any revocation hereof, without notice or demand, and
without lessening Guarantor’s liability under this Guaranty, from time to time: (a) to alter, compromise, renew, extend, accelerate, or
otherwise change the time for payment or other terms of the Guaranteed Obligations or any part of the Guaranteed Obligations, including
increases and decreases of the rate of interest on the Guaranteed Obligations; extensions may be repeated and may be for longer than the
original term; (b) to take and hold security for the payment and performance of the Guaranteed Obligations, and exchange, enforce, waive,
subordinate, fail or decide not to perfect, and release any such security, with or without the substitution of new collateral; (c) to
release, substitute, agree not to sue, or deal with any one or more of Borrower’s sureties, endorsers, or other guarantors on any terms
or in any manner Lender may choose; (d) to determine how, when and what application of payments and credits shall be made on the Guaranteed
Obligations; (e) to apply such security and direct the order or manner of sale thereof, including without limitation, any nonjudicial
sale permitted by the terms of the controlling security agreement, mortgage, or deed of trust, as Lender in its reasonable discretion
may determine; (f) to sell, transfer, assign, or grant participants in all or any part of the Guaranteed Obligations; and (g) to assign
or transfer this Guaranty in whole or in part. In connection with clause (g) above, upon sale, transfer or assignment of the Note and
any, some, or all of the Loan Documents, or any interest therein, by Lender to any third party (“Third Party”), this
Guaranty may also be assigned by Lender to the Third Party and the undersigned Guarantor acknowledges liability under this Guaranty to
such Third Party.

 

    2

    	 

    

 

6. Guarantor’s
Representations, and Warranties, and Covenants. Guarantor represents and warrants and covenants to Lender that: (a) no representations
or agreements of any kind have been made to Guarantor which would limit or qualify in any way the terms of this Guaranty; (b) this Guaranty
is executed at Borrower’s request and not at the request of Lender; (c) Guarantor has full power, right and authority to enter into this
Guaranty; (d) the provisions of this Guaranty do not conflict with or result in a default under any agreement or other instruments binding
upon Guarantor and do not result in a violation of any law, regulation, court decree or order applicable to Guarantor; (e) Guarantor has
not and will not, without the prior written consent of Lender, sell, assign, transfer, or otherwise dispose of substantially all of Guarantor’s
assets if such sale, assignment, transfer or disposition would have a material adverse effect upon Guarantor’s ability to satisfy Guarantor’s
obligation under this Guaranty; (f) upon Lender’s request, Guarantor will provide to Lender financial, tax, and credit information in
form reasonably acceptable to Lender, and all such financial and tax information (including tax returns) which currently has been, and
all future financial and tax information (including tax returns) which will be provided to Lender is and will be true and correct in all
material respects and fairly present the financial condition since the date of the most recent financial statements provided to Lender
and no event has occurred which may materially adversely affect Guarantor’s financial condition; (g) no litigation, claim, investigation,
administrative proceeding or similar action (including those for unpaid taxes) against Guarantor is pending or threatened that would have
a material adverse effect on Guarantor’s ability to satisfy Guarantor’s obligations under this Guaranty; (h) Lender has made
no representation to Guarantor as to the creditworthiness of Borrower; and (i) Guarantor has established adequate means of obtaining from
Borrower on a continuing basis information regarding Borrower’s financial condition. Guarantor agrees to keep adequately informed from
such means of any facts, events, or circumstances which might in any way affect Guarantor’s risks under this Guaranty, and Guarantor further
agrees that, absent a request for information, Lender shall have no obligation to disclose to Guarantor any information or documents acquired
by Lender in the course of its relationship with Borrower.

 

In addition, the Guarantor
agrees to provide Lender: (i) as soon as available, and in any event within one hundred twenty (120) days after the end of each calendar
year, Guarantor shall furnish Lender with Guarantor’s personal financial statements and contingent debt schedules of Guarantor in
each case in comparative form to the figures for the previous year all in reasonable detail and prepared in accordance with sound and
consistently applied accounting principles, all as acceptable to Lender in form and substance; and (ii) copies of Guarantor’s federal
tax returns and extension filings acceptable to Lender as soon as available, and in any event within thirty (30) days of when such were
due to be filed (or within ten (10) days after the last date of any extension period, if applicable) (and which filings Guarantor agrees
to timely make with the Internal Revenue Service).

 

7. Guarantor’s
Waivers. Except as prohibited by applicable law. Guarantor waives any right to require Lender: (a) to continue lending money or to
extend other credit to Borrower; (b) to make any presentment, protest, demand, or notice of any kind, including notice of any nonpayment
of the Guaranteed Obligations or of any nonpayment related to any collateral, or notice of any action or nonaction on the part of the
Borrower, Lender, any surety, endorser, or other guarantor in connection with the Guaranteed Obligations or in connection with the creation
of new or additional loans or obligations; (c) any defense based upon a failure of Lender to comply with the notice requirements of the
applicable version of Uniform Commercial Code Section 9-504; (d) to resort for payment or to proceed directly or at once against any person,
including Borrower or any other guarantor; (e) to proceed directly against or exhaust any collateral held by Lender from Borrower, any
other guarantor, or any other person; (f) to pursue any other remedy within Lender’s power; or (g) to commit any act or omission of any
kind, or at any time, with respect to any matter whatsoever.

 

If now or hereafter (a) Borrower
shall be or become insolvent, and (b) the Guaranteed Obligations shall not at all times until paid be fully secured by collateral pledged
by Borrower, Guarantor hereby forever waives and relinquishes in favor of Lender and Borrower, and their respective successors, any claim
or right to payment Guarantor may now have or hereafter have or acquire against Borrower, by subrogation or otherwise, so that at no time
shall Guarantor be or become a “creditor” of Borrower within the meaning of 11 U.S.C. Section 547(b), or any successor provision
of the federal bankruptcy laws.

 

    3

    	 

    

 

Guarantor also waives any
and all rights or defenses arising by reason of (a) any “one action” or “anti-deficiency” law or any other law which
may prevent Lender from bringing any action, including a claim for deficiency, against Guarantor, before or after Lender’s commencement
or completion of any foreclosure action, either judicially or by exercise of a power of sale; (b) any election of remedies by Lender which
destroys or otherwise adversely affects Guarantor’s subrogation rights or Guarantor’s rights to proceed against Borrower for reimbursement,
including without limitation, any loss of rights Guarantor may suffer by reason of any law limiting, qualifying, or discharging the Guaranteed
Obligations; (c) any disability or other defense of Borrower, of any other guarantor, of any other person, or by reason of the cessation
of Borrower’ liability from any cause whatsoever, other than payment in full in legal tender, of the Guaranteed Obligations; (d) any right
to claim discharge of the Guaranteed Obligations on the basis of unjustified impairment of any collateral for the indebtedness; (e) any
statute of limitations, if at any time any action or suit brought by Lender against Guarantor is commenced there is outstanding amount
owing by Borrower to Lender under the Guaranteed Obligations that is not barred by any applicable statute of limitations; or (f) any defenses
given to guarantors at law or in equity other than actual payment and performance of the Guaranteed Obligations. If payment is made by
Borrower, whether voluntarily or otherwise, or by any third party, on the Guaranteed Obligations and thereafter Lender is forced to remit
the amount of that payment to Borrower’s trustee in bankruptcy or to any similar person under any federal or state bankruptcy law or law
for the relief of debtors, the Guaranteed Obligations shall be considered unpaid for the purpose of enforcement of this Guaranty.

 

Guarantor further waives and
agrees not to assert or claim at any time any deductions to the amount guaranteed under this Guaranty for any claim of setoff, counterclaim,
counter demands, recoupment or similar right, whether such claim, demand or right may be asserted by the Borrower, the Guarantor, or both.

 

8. Guarantor’s
Understanding With Respect to Waivers. Guarantor warrants and agrees that each of the waivers set forth above is made with Guarantor’s
full knowledge of its significance and consequences and that, under the circumstances, the waivers are reasonable and not contrary to
public policy or law. If any such waiver is determined to be contrary to any applicable law or public policy, such waiver shall be effective
only to the extent permitted by law or public policy.

 

9. Subordination
of Borrower’s Debts to Guarantor. Guarantor agrees that the Guaranteed Obligations owing by Borrower to Lender, whether now existing
or hereafter created, shall be prior to any claim that Guarantor may now have or hereafter acquire against Borrower, whether or not Borrower
becomes insolvent. Guarantor hereby expressly subordinates any claim Guarantor may have against Borrower, upon any account whatsoever,
to any claim that Lender may now or hereafter have against Borrower. In the event of insolvency and consequent liquidation of the assets
of Borrower, through bankruptcy, by an assignment for the benefit of creditors, by voluntary liquidation, or otherwise, the assets of
Borrower applicable to the payment of the claims of both Lender and Guarantor shall be paid to Lender and shall be first applied by Lender
to the Guaranteed Obligations. Guarantor hereby assigns to Lender all claims that they may have or acquire against Borrower or against
any assignee or trustee in bankruptcy of Borrower; provided however, that such assignment shall be effective only for the purpose of assuring
to Lender full payment in legal tender of the Guaranteed Obligations. If Lender so requests, any notes or credit agreements now or hereafter
evidencing any debts or obligations of Borrower to Guarantor shall be marked with a legend that the same are subject to this Guaranty
and shall be delivered to Lender. Guarantor agrees, and Lender hereby is authorized, in the name of Guarantor, from time to time to execute
and file financing statements and continuation statements and to execute such other documents and to take such other actions as Lender
deems necessary or appropriate to perfect, preserve and enforce its rights under this Guaranty.

 

10. Miscellaneous
Provisions. The following miscellaneous provisions are a part of this Guaranty:

 

a) Amendments.
This Guaranty, together with any Loan Documents, constitutes the entire understanding and agreement of the parties as to the matters set
forth in this Guaranty. No alteration of or amendment to this Guaranty shall be effective unless given in writing and signed by the party
or parties sought to be charged or bound by the alteration or amendment.

    4

    	 

    

 

b) Applicable
Law; Venue; Jurisdiction. This Guaranty has been delivered to Lender and accepted by Lender in the State of Tennessee. This Guaranty
shall be governed by and construed in accordance with the laws of the State of Tennessee (without regard to conflicts of law), except
to the extent that greater rights are granted to Lender under federal law, in which case federal law shall control. Guarantor hereby waives
any personal service of any and all process and consents to the service of process in any action (“Actions”) pertaining
to the Lender, the Loan guaranteed hereunder, the Guaranteed Obligations, the Borrower and/or this Guaranty by certified mail, return
receipt requested, addressed to Guarantor, at the address set forth above in this Guaranty (or as such address may be updated from time
to time by written notice from Guarantor to Lender), and service so made shall be complete ten (10) calendar days after the same has been
posted. The undersigned Guarantor does further consent to and agree that any Action for the enforcement of this Guaranty may be brought
in the courts of the State of Tennessee sitting in Knox County, Tennessee or any Federal court sitting in Knox County, Tennessee and consents
to the non-exclusive jurisdiction of such courts. The undersigned Guarantor hereby waives any objection that Guarantor may now or hereafter
have to the venue of any such Action or any such court or that suit is brought in an inconvenient court.

 

c) Waiver
of Jury Trial. GUARANTOR HEREBY IRREVOCABLY AND ABSOLUTELY WAIVES ANY RIGHTS TO A TRIAL BY JURY IN ANY ACTION OR PROCEEDING BASED
UPON, OR RELATED TO, THE SUBJECT MATTER OF THIS GUARANTY. THIS WAIVER IS KNOWINGLY, INTENTIONALLY AND VOLUNTARILY MADE BY GUARANTOR, AND
GUARANTOR ACKNOWLEDGES THAT NEITHER LENDER NOR ANY PERSON ACTING ON BEHALF OF LENDER HAS MADE ANY REPRESENTATIONS OF FACT TO INDUCE THIS
WAIVER OF TRIAL BY JURY OR HAS TAKEN ANY ACTIONS WHICH IN ANY WAY MODIFY OR NULLIFY ITS EFFECT. GUARANTOR ACKNOWLEDGES THAT THIS WAIVER
IS A MATERIAL INDUCEMENT FOR LENDER TO ENTER INTO THIS GUARANTY, THAT GUARANTOR AND LENDER HAVE ALREADY RELIED ON THIS WAIVER IN ENTERING
INTO THIS GUARANTY AND THAT EACH OF THEM WILL CONTINUE TO RELY ON THIS WAIVER IN THEIR RELATED FUTURE DEALINGS. GUARANTOR FURTHER ACKNOWLEDGES
THAT GUARANTOR HAS BEEN REPRESENTED (OR HAS HAD THE OPPORTUNITY TO BE REPRESENTED) IN THE SIGNING OF THIS GUARANTY AND IN THE MAKING OF
THIS WAIVER BY INDEPENDENT LEGAL COUNSEL.

 

d) Attorneys’
Fees; Expenses. Guarantor agrees to pay upon demand all of Lender’s costs and expenses, including reasonable attorneys’ fees and Lender’s
legal expenses, incurred in connection with the enforcement of this Guaranty. Lender may pay someone else to help enforce this Guaranty,
and Guarantor shall pay the costs and reasonable expenses of such enforcement. Costs and expenses include Lender’s reasonable attorneys’
fees and legal expenses whether or not there is a lawsuit, including reasonable attorneys’ fees and legal expenses for bankruptcy proceedings
(and including efforts to modify or vacate any automatic stay or injunction), appeals, and any anticipated post judgment collection services
shall be paid by Guarantor. Guarantor also shall pay all court costs and such additional fees as may be directed by the court.

 

e) Notices.
All notices required or allowed to be given hereunder shall be in writing, and shall be personally delivered, or sent by Federal Express
or other recognized overnight express courier service, or sent by United States Mail, first-class, postage prepaid, certified with return-receipt
requested, addressed to each party as set forth above. Any such notice shall be deemed to be given, if personally delivered, on the date
such notice is personally delivered to the address set forth above for the party to whom such notice is given; if sent by Federal Express,
or other recognized overnight express courier service, on the date said notice is dispatched or deposited with said courier service, all
charges prepaid, addressed as herein provided; and, if mailed, on the date said notice is deposited in the United States Mail, first-class,
postage prepaid, certified with return-receipt requested, addressed as herein provided. Any party may change the address to which notices
hereunder are to be sent by giving written notice thereof to the other parties as set forth herein.

 

    5

    	 

    

 

f) Interpretation.
The words “Guarantor,” “Borrower,” and “Lender” include the heirs, successors, assigns and transferees of
each of them. Caption headings in this Guaranty are for convenience purposes only and are not to be used to interpret or define the provisions
of this Guaranty. If a court of competent jurisdiction finds any provision of this Guaranty to be invalid or unenforceable as to any person
or circumstance, such finding shall not render that provision invalid or unenforceable as to any other persons or circumstances, and all
provisions of this Guaranty in all other respects shall remain valid and enforceable. Capitalized terms not otherwise defined herein shall
have such meaning as set forth in the applicable Loan Agreement.

 

g) Waiver.
Lender shall not be deemed to have waived any rights under this Guaranty unless such waiver is given in writing and signed by Lender.
No delay or omission on the part of Lender in exercising any right shall operate as a waiver of such right or any other right. A waiver
by Lender of a provision of this Guaranty shall not prejudice or constitute a waiver of Lender’s right otherwise to demand strict compliance
with that provision or any other provision of this Guaranty. No prior waiver by Lender, or any course of dealing between Lender and Guarantor
shall constitute a waiver of any of Lender’s rights or of any of Guarantor’s obligations as to any future transactions. Whenever the consent
of Lender is required under this Guaranty, the granting of such consent by Lender in any instance shall not constitute continuing consent
to subsequent instances where such consent is required and in all cases such consent may be granted or withheld in the sole discretion
of Lender.

 

h) Electronic
Transmission. Guarantor agrees that if a paper original of this Guaranty executed by Guarantor is sent by electronic transmission
(an “Executed Copy”), (i) the Executed Copy shall be treated in all respects as a paper original of this Guaranty executed
by the Guarantor and (ii) the Executed Copy shall have the same binding and legal effect as a paper original of this Guaranty executed
by the Guarantor. At the request of any party who receives an Executed Copy, this Guaranty shall be re-executed by Guarantor and the executed
paper original Guaranty shall be sent to the requesting party by any method permitted herein other than by electronic transmission. Guarantor
further agrees that it will not raise the transmission of this Guaranty or the Executed Copy by electronic transmission as a defense in
any proceeding or action in which the validity of this Guaranty is at issue and hereby forever waives such defense. “Electronic
transmission” means any form of communication, such as facsimile or email, not directly involving the physical transmission of
actual paper, which creates a record (including a .PDF file) of the actual paper that may be retained, retrieved, reviewed and printed
by the recipient.

 

i) THE
UNDERSIGNED GUARANTOR ACKNOWLEDGES HAVING READ ALL OF THE PROVISIONS OF THIS GUARANTY AND AGREES TO ITS TERMS. IN ADDITION, THE GUARANTOR
UNDERSTANDS THAT THIS GUARANTY IS EFFECTIVE UPON GUARANTOR’S EXECUTION AND DELIVERY OF THIS GUARANTY TO LENDER AND THAT THE GUARANTY WILL
CONTINUE UNTIL TERMINATED IN THE MANNER SET FORTH IN THE SECTION TITLED “DURATION OF GUARANTY.” NO FORMAL ACCEPTANCE BY LENDER
IS NECESSARY TO MAKE THIS GUARANTY EFFECTIVE.

 

[Signature page follows]

 

    6

    	 

    

 

This Guaranty is executed as of the day and year
first written above.

 

	 	GUARANTOR:
	 	 
	 	MANUFACTURED HOUSING PROPERTIES, INC.
	 	 	 
	 	By:	/s/ Michael Z. Anise
	 	 	Michael Z. Anise, President 

 

	STATE OF	North
Carolina	)
	COUNTY OF 	Mecklenburg	)

 

Before me, the undersigned,
a Notary Public of said County and State, personally appeared Michael Z. Anise, with whom I am personally acquainted (or proved
to me on the basis of satisfactory evidence), and who, upon oath, acknowledged himself to be the President of MANUFACTURED HOUSING
PROPERTIES, INC., a Nevada limited liability company, the within named Grantor, and that he in such capacity, being authorized so
to do, executed the foregoing instrument for the purposes therein contained, by signing the name of the Grantor in such capacity.

 

Witness my hand and seal, this 10 day
of November, 2021.

 

	 	/s/ Jonathan
    Visconti
	 	Notary Public
	My Commission Expires: 03/15/2021	 

 

 

7

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00337-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00337-of-00352.parquet"}]]