Document:

Exhibit 10.2

 

CANADIAN CANNABIS CORP.

Secured
Promissory Note

 

	CAD$1,000,000	October 16, 2015

 

1.            Principal. CANADIAN CANNABIS CORP.,
a Delaware corporation (the “Corporation”), for value received, hereby promises to pay to the order of Avonlea
Ventures Inc., an Ontario corporation (the “Holder”) in lawful money of Canada
at the address for notices to Holder set forth below, in lawful currency of Canada (“CAD$”) pursuant
to the terms of this promissory note (this “Note”), the principal amount of ONE MILLION CANADIAN DOLLARS (CAD$1,000,000),
together with all accrued and unpaid interest thereon, as set forth below.

 

2.            Interest and Maturity. The Corporation
promises to pay simple interest on the outstanding principal amount hereof from the date hereof until such principal amount is
paid in full at the rate of eight percent (8%) per annum, both before and after maturity and default and judgment. Interest from
the date hereof shall accrue and be computed daily on the basis of a 365-day year. Unless prepaid earlier as set forth below, all
outstanding principal and accrued and unpaid interest on this Note shall be due and payable on May 31, 2016 (the “Maturity
Date”). All amounts payable hereunder shall be paid in immediately available funds.

 

3.            Security. All of the obligations
and indebtedness of the Corporation pursuant to this Note are guaranteed by a guarantee granted by 2264793 Ontario Inc. (the “Guarantor”)
in favour of the Holder (the “Guarantee”) and shall be secured by a mortgage (the “Mortgage”;
and collectively with the Guarantee, the “Security”) granted by the Guarantor over the real property of the
Guarantor (and related personal property) located at 100 Rutherford Road South, Brampton, ON L6W 3J5, Unit One (the “Mortgaged
Property”).

 

4.            Prepayment.
This Note may be prepaid in whole or in part at any time without penalty. Any partial prepayment shall be applied first to interest
and the remaining balance of such payment, if any, to principal.

 

5.            Interest Act (Canada). For the
purposes of the Interest Act (Canada), in any case in which an interest or fee rate is stated in this Note to be calculated
on the basis of a number of days that is other than the number in a calendar year, the yearly rate to which such interest or fee
rate is equivalent is equal to such interest or fee rate multiplied by the actual number of days in the year in which the relevant
interest or fee payment accrues and divided by the number of days used as the basis for such calculation.

 

6.            Attorneys’ Fees. The Corporation
agrees to pay, in addition to the principal and interest payable hereunder, all reasonable attorneys’ fees and costs incurred
by the Holder (on a full indemnity basis) in connection with the preparation, execution, administration and enforcement of this
Note and the Security and all documents and agreements granted or entered into by the Holder and the Lender in connection therewith.

 

     

     

    

 

7.            Notices. All notices and other
communications provided for herein shall be dated and in writing and shall be deemed to have been duly given when received by the
intended party if delivered personally, sent by electronic mail (with confirmation of receipt), or sent by a nationally recognized,
overnight courier (with tracking capability) to the party to whom it is directed:

 

7.1.        If to
the Corporation, to it at the following address:

 

Canadian Cannabis Corp.

100 Rutherford Road South

Brampton, ON Canada L6W
2J2

Facsimile: ________________

E-mail: bward@cdncannabis.com

Attn: Ben Ward

 

With copies
to:

 

Thrasher Worth
LLC

Five Concourse
Parkway

Suite 2600

Atlanta, Georgia
30328

E-mail: gthrasher@thrasherworth.com

Attn: H. Grady
Thrasher

 

7.2.        If to
the Holder, to the following address:

 

Avonlea Ventures Inc.

15466 The Gore Rd.

Caledon ON L7C 3E5 Canada

Facsimile: 905-880-7866

E-mail: steeleconsult@aol.com

Attn: Michael Steele

 

With copies
to:

 

Norton Rose Fulbright
Canada LLP

3700, 400 –
3rd Avenue SW

Calgary, AB T2P
4H2

Attn: Marlow Gereluk

 

or at such other address as the parties
hereto shall have specified by notice in writing to the other party in accordance with this Section 7.

 

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8.            Defaults and Remedies.

 

8.1.        Events
of Default. An “Event of Default” shall occur hereunder if:

 

8.1.1.      the Corporation shall default
in the payment of the principal of or any interest due on this Note, when and as the same shall become due and payable;

 

8.1.2.      the Corporation shall default
in the payment of any fees, issuance of securities or otherwise in the payment or performance of its obligations when due under
(a) the Agreement of Purchase and Sale dated on or about the date hereof between the Lender and the Guarantor in respect of the
Mortgaged Property or (b) the Security;

 

8.1.3.      if the Corporation or the
Guarantor shall file a petition or otherwise commence any proceeding seeking any reorganization, arrangement, composition, dissolution,
winding-up, liquidation, administration or readjustment under any applicable bankruptcy, insolvency, moratorium, reorganization
or other similar laws affecting creditors’ rights in any jurisdiction;

 

8.1.4.      if the Corporation or the
Guarantor shall apply for or consent to or acquiesces in, or fail to contest in a timely and appropriate manner, the appointment
of, or the taking of possession by, a receiver, receiver/manager, custodian, sequestrator, trustee, liquidator or other person
with similar powers of itself or of all or any substantial part of its assets;

 

8.1.5.      if the Corporation or the
Guarantor (i) shall make a general assignment for the benefit of creditors, (ii) discontinues its business, or (iii) becomes insolvent
or is unable to pay its debts or fails or admits in writing its inability generally to pay its debts as they become due;

 

8.1.6.      if bankruptcy, dissolution,
liquidation, or other relief proceedings under United States or Canadian provincial, state or federal bankruptcy or insolvency
laws are commenced against the Corporation or the Guarantor, or a receiver or trustee is appointed for the Corporation or the Guarantor
or a substantial part of either of their respective property, and such proceeding or appointment is not dismissed or discharged
within thirty (30) calendar days after its commencement;

 

8.1.7.      if a material default occurs
in the due observance or performance of any covenant or agreement on the part of the Corporation or the Guarantor to be observed
or performed pursuant to this Note or the Security;

 

8.1.8.      if any secured creditors
of the Corporation or the Guarantor realize upon or enforce their security against property and assets of the Corporation or the
Guarantor having an aggregate fair market value in excess of CAD$25,000 and such realization or enforcement shall continue in effect
and not be released, discharged or stayed within thirty (30) days;

 

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8.1.9.      if (a) the Corporation or
the Guarantor defaults in the payment when due (whether at maturity, upon acceleration, or otherwise) of indebtedness for borrowed
money thereof in aggregate in excess of CAD$25,000 (or the equivalent thereof in any other currency) or (b) a default, event or
condition occurs under the agreement or agreements providing for such indebtedness and such default, event or condition has resulted
in such indebtedness becoming, or becoming capable at such time of being declared, due and payable thereunder before it would otherwise
have been due and payable; provided that the foregoing shall not apply in respect of a default by the Guarantor in respect of the
first lieu mortgage granted by the Guarantor in respect of the Mortgage Property;

 

8.1.10.      if the Corporation or the
Guarantor merges, consolidates or amalgamates with any other entity, in each case without the prior written consent of the Holder;

 

8.1.11.      if this Note or any of
the Security or any material provision thereof shall at any time for any reason cease to be in full force and effect, be declared
to be void or voidable or shall be repudiated, or the validity or enforceability thereof shall at any time be contested by the
Corporation or the Guarantor, or the Corporation or the Guarantor shall deny that it has any or any further liability or obligation
thereunder, or at any time it shall be unlawful or impossible for it to perform any of its obligations under this Note or the Security;

 

8.1.12.      if final judgment(s) for
the payment of money shall be rendered against the Corporation or the Guarantor and the same shall remain undischarged for a period
of thirty (30) consecutive days, during which time execution shall not be effectively stayed;

 

8.1.13.      a Change of Control (as
defined herein) occurs; or

 

8.1.14.      if the Corporation or the
Guarantor shall consent to, or acquiesce in, or take any action for the purpose of authorizing any of the foregoing.

 

As used herein,
a “Change of Control” means: (i) any sale of all or substantially all of the assets of the Corporation pursuant
to one or more transactions, or (ii) any transaction or series of transactions pursuant to which the holders of the majority of
the outstanding voting securities of the Corporation immediately prior to such transaction fail to hold equity securities representing
a majority of the voting power of the Corporation immediately following such transaction.

9.            Acceleration. If an Event of Default
occurs under Section 8.1.3, 8.1.4, 8.1.5, 8.1.6, 8.1.10 or 8.1.13 then the outstanding principal of and accrued and unpaid interest
under this Note shall automatically become immediately due and payable, without presentment, demand, protest or notice of any kind,
all of which are expressly waived. If any other Event of Default occurs and is continuing, the Holder, by written notice to the
Corporation, may declare the outstanding principal of and accrued and unpaid interest under this Note to be due and payable immediately.
Upon any such declaration of acceleration, such principal and interest shall become immediately due and payable, and the Holder
shall be entitled to exercise all of its rights and remedies hereunder whether at law or in equity, including enforcement against
the Guarantor and realization against the Security. The failure of the Holder to declare the Note due and payable shall not be
a waiver of its right to do so, and the Holder shall retain the right to declare the Note due and payable unless it shall execute
a written waiver.

 

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10.           Waiver of Notice of Presentment.
The Corporation hereby waives presentment, demand for performance, notice of non-performance, protest, notice of protest and notice
of dishonor. No delay on the part of Holder in exercising any right hereunder shall operate as a waiver of such right or any other
right.

 

11.           Non-Waiver. Each right and remedy
available to the holder hereof shall be cumulative of and in addition to each other such right and remedy. The failure of the Holder
to enforce or exercise any right or remedy provided in this Note or at law or in equity upon any default or breach shall not be
construed as waiving the rights to enforce or exercise such or any other right or remedy at any later date, nor shall any single
or partial exercise thereof preclude other or further exercise thereof or exercise of any other such right or remedy. No exercise
of the rights and powers granted in or held pursuant to this Note by the Holder, and no delays or omissions in the exercise of
such rights and powers shall be held to exhaust the same or be construed as a waiver thereof, and every such right and power may
be exercised at any time and from time to time.

 

12.           Governing Law. This Note shall
be construed in accordance the laws of the Province of Ontario, without regard to its conflicts of laws or choice of law provisions.
The Corporation hereby irrevocably submits and attorns to the non-exclusive jurisdiction of the courts of the Province of Ontario
for all matters arising out of or relating to this Note, any any of the transactions contemplated hereby, without prejudice to
the rights of the Holder to take proceedings in any other jurisdiction.

 

13.           Amendment; Assignment. Any term
of this Note may be amended or waived only with the written consent of the Corporation and Holder. Any amendment or waiver effected
in accordance with this Section 13 shall be binding upon the Holder, each future holder of the Note, and the Corporation. The rights
and obligations of the Corporation and the Holder shall be binding upon and benefit the successors, assigns, heirs, administrators
and transferees of the parties. This Note is transferable by the Holder without the consent of the Corporation. The rights and
obligations of the Corporation under this Note may not be assigned or delegated by the Corporation without the prior written consent
of Holder.

 

[Remainder of page intentionally left blank]

 

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This Note is hereby executed
and issued by the Corporation as of the year and date first above written.

 

	 	CORPORATION: 
	 	 	 
	 	Canadian Cannabis Corp.
	 	 	 
	 	By:	/s/ Benjamin Ward
	 	 	Benjamin Ward, President and CEO

 

 

6Exhibit 10.3

 

GUARANTEE

 

DATED AS OF: October 16, 2015

 

WHEREAS Avonlea
Ventures Inc. (the "Lender"), a corporation incorporated under the laws of the Province of Ontario, has agreed
to advance a loan (the “Loan”) in the original principal sum of One Million Dollars ($1,000,000) to Canadian
Cannabis Corp., a company incorporated under the laws of the State of Delaware, including, without limitation, in accordance
with and secured by a promissory note (the “Promissory Note”) dated as of the date hereof;

 

AND WHEREAS 2264793
Ontario Inc. (the "Guarantor") has agreed to execute this Guarantee in order to induce the Lender to accept the
Promissory Note and advance the Loan to the Borrower and for good and valuable consideration (the receipt and sufficiency whereof
are hereby acknowledged by the Guarantor) the Guarantor covenants, promises and agrees, in favour of and with the Lender as follows:

 

	1.	(a)	The
Guarantor, as principal debtor and not as surety, unconditionally guarantees to the Lender the due payment by the Borrower of all
outstanding amounts owed by the Borrower to the Lender with respect to the Loan, including, without limitation, arising as a result
of the Loan and any other advance of funds or extension of credit by the Lender to the Borrower (the "Principal Sum"),
interest thereon, fees and any other amounts payable thereon, including, without limitation, pursuant to the Promissory Note, request
by the Borrower or other agreement between the parties (collectively, the "Loan Documents"), at the times and
in the manner set out in such Loan Documents, and the due performance and observance by the Borrower of all covenants, conditions,
stipulations and provisos contained in the Loan Documents.

 

		(b)	As between the Lender and the Guarantor, the Guarantor is and shall continue to be liable as principal
debtor hereunder notwithstanding any change in the name, objects, capital stock or constitution of the Borrower or the bankruptcy,
insolvency or going into liquidation of the Borrower, voluntarily or otherwise, and notwithstanding any transaction which may take
place between the Lender and the Borrower or any neglect, waiver or default of the Lender which might otherwise operate as a discharge
whether partial or absolute of the Guarantor if the Guarantor was a surety only of the Borrower, and without restricting the generality
of the foregoing, notwithstanding the releasing in whole or in part of the property and assets mortgaged, pledged, charged or assigned,
whether by fixed and specific mortgage, charge or assignment or otherwise, in the Loan Documents, or the granting of time or other
indulgences to the Borrower. The Lender shall not be concerned to see or enquire into the powers of the Borrower or any of its
directors or officers acting or purporting to act on its behalf; and moneys, advances, renewals or credits in fact borrowed or
obtained from the Lender in professed exercise of such powers shall be deemed to form part of the debts and liabilities hereby
guaranteed, notwithstanding that such borrowing or obtaining of moneys, advances, renewals or credits shall be in excess of the
powers of the Borrower or of its directors, officers, managers or other agents aforesaid, or be in any way irregular, defective
or informal.

 

		(c)	The Lender in its absolute discretion or in the absolute discretion of any authorized officer or
agent, and without diminishing the liability of the Guarantor hereunder may grant time or other indulgences to the Borrower and
any other person or persons now or hereafter liable to the Lender in respect of the payment of the Principal Sum, interest thereon,
fees and any other amounts payable to the Lender or the performance and observance of all covenants, conditions, stipulations and
provisos contained in the Loan Documents and may give up, modify, vary, exchange, renew or abstain from taking advantage of any
of the security constituted by this guarantee or the Loan Documents (the "Security") in whole or in part and may
discharge any part or parts of or accept any composition or arrangements or realize upon any of the Security when and in such manner
as the Lender or any authorized officer or agent thereof may think expedient. Any account settled or stated by or between the Lender
and the Borrower or admitted by or on behalf of the Borrower may be adduced by the Lender and shall in that case be accepted by
the Guarantor as prima facie evidence that the balance or amount thereof appearing is due by the Borrower to the Lender.

 

     

     

    

2.

 

		(d)	The Guarantor shall not be released or exonerated by time being given, or any other forbearance
whatsoever whether as to time, performance or otherwise or by any release, discharge, loss or alteration in or dealing with all
or any part of the Loan Documents or any of them or by any failure or delay in giving any notice required under this guarantee
or under the Loan Documents or any of them, or by any variation in or departure from the provisions of the Loan Documents or any
of them (including without limitation the waiver by the Lender of compliance with any conditions precedent to any advance of funds,
or credit), or by any modification or alteration of the Loan Documents, or by anything done, suffered or permitted by the Lender
or any invalidity or unenforceability of, or any limitation on the liability of the Borrower, or on the method of terms of payment
under the Loan Documents or any assignment or other transfer of all or any part of the Loan Documents or any interest therein,
whether before or after any default under the Loan Documents or any defence, compensation, set-off or counterclaim which the Borrower
or the Guarantor may have or assert or any other circumstance, whether or not the Guarantor shall have notice or knowledge of any
of the foregoing.

 

		(e)	The obligations of the Guarantor hereunder shall be continuing obligations and a fresh cause of
action shall be deemed to arise in respect of each default. The Guarantor covenants and agrees with the Lender that it will from
time to time deliver to the Lender suitable acknowledgments of its continuing liability hereunder in such form as counsel to the
Lender may advise, acting reasonably, and as will prevent any action brought against it in respect of any default hereunder being
barred by any statute of limitations or law of prescription now or hereafter in force in the Province of Ontario or elsewhere in
Canada.

 

		(f)	The Guarantor will not at any time claim to be subrogated in any manner to the position of the
Lender and will not claim the benefit of any Security at any time held by the Lender, provided however that if, following a demand
for payment by the Lender to the Guarantor hereunder, the Guarantor pays to the Lender all the moneys owing or remaining unpaid
to the Lender under the Loan Documents then the Guarantor shall be entitled on demand made in writing to the Lender to the assignment,
without warranty, of the Lender's right, title and interest in the Loan Documents.

 

		(g)	The Lender shall not be bound to seek or exhaust its recourse against the Borrower or any other
person or against the property of the Borrower or any other person or against any security (which term shall include, without limitation,
a guarantee or indemnity) it may hold before requiring and being entitled to payment from the Guarantor hereunder and the Lender
may enforce the various remedies available to it and may realize upon the various security held by it or any part thereof in such
order as the Lender may determine.

 

		(h)	The Guarantor acknowledges that its liability hereunder is for the whole of the outstanding Principal
Sum, interest thereon, fees and other amounts payable by the Borrower to the Lender, including, without limitation, under the Loan
Documents and expressly waives the benefit of any legislation, common law or principle requiring the division or proration of liability
between the Guarantor and any other person or persons now or hereafter liable to the Lender in respect of the Principal Sum, interest
thereon, fees and other amounts payable under the Loan Documents.

 

     

     

    

3.

 

		(i)	The release of any other guarantor or guarantors from his, their or its liability pursuant to a
guarantee in favour of the Lender shall not affect the liability of the Guarantor hereunder which shall remain unimpaired and still
in full force and effect as if the guarantor or guarantors so released had not been a guarantor of all or any part of the said
Principal Sum, interest thereon, fees and other amounts payable under the Loan Documents.

 

		(j)	No suit based on this guarantee shall be instituted until written demand for payment has been made
by the Lender to the Guarantor in respect of which such suit is instituted and demand shall be deemed to have been effectually
made when delivered in the manner provided in paragraph 12 of this guarantee.

 

		(k)	If default in payment of all or part of the amounts from time to time owing by the Borrower to
the Lender, including without limitation, under the Loan Documents, shall occur and be continuing, the Guarantor shall forthwith
upon demand therefor being made upon the Guarantor by the Lender in accordance with subparagraph 1(j) hereof pay to the Lender
the Principal Sum or as much thereof as is outstanding and all interest accrued thereon together with all costs, fees, expenses
and other amounts due to the Lender by virtue of the Loan Documents, this guarantee and each of them.

 

		(l)	As security for this guarantee and the performance by the Guarantor of its covenants and obligations
hereunder, the Guarantor agrees to grant to the Lender a collateral charge/mortgage to be registered against title to the Guarantor's
real property municipally known as 98-102 Rutherford Road South, Brampton, ON, legally described in Schedule "A" attached
hereto (the "Property"), securing the principal sum of One Million Dollars ($1,000,000).

 

2.                         It is understood between
the parties hereto that the carrying out by the Guarantor of the covenants and agreements made by it hereunder is not in any way
contingent upon the carrying out by the Borrower or the Lender or any other person of any of their respective obligations or liabilities
in the Loan Documents or in any other instrument contained.

 

3.                         Except as contained
or referred to herein, there are no representations, collateral instruments or conditions with respect to this guarantee or affecting
the liability of the Guarantor hereunder other than as contained herein.

 

4.                         The Guarantor hereby
waives:

 

		(a)	presentation for payment of any instrument of the Borrower or any other person, protest thereof
and notice of its dishonour to any person thereto and to the Guarantor;

 

		(b)	any defense with respect to this guarantee arising by virtue of:

 

		(i)	the lack of authority, death, disability or loss or diminution of capacity of any other person
or revocation hereof by any other person; or

 

		(ii)	the failure of the Lender to file or enforce a claim of any kind;

 

		(c)	any defense based upon an election of remedies by the Lender which destroys or otherwise impairs
the subrogation rights of the Guarantor or the right of the Guarantor to proceed against the Borrower for reimbursement, or both;
and

 

     

     

    

4.

 

		(d)	any duty on the part of the Lender to disclose to the Guarantor any facts which the Lender may
now or hereafter know about the Borrower, regardless of whether the Lender has reason to believe that any such facts materially
increase the risk beyond that which the Guarantor intends to assume or has reason to believe that such facts are unknown to the
Guarantor or has a reasonable opportunity to communicate such facts to the Guarantor, it being understood and agreed that the Guarantor
is fully responsible for being and keeping informed of the financial condition of the Borrower and of all circumstances bearing
on the risk of non-payment of all obligations hereby guaranteed.

 

5.                         The Guarantor acknowledges
receipt of good, valuable and sufficient consideration for the making of this guarantee and hereby expressly agrees that recourse
may be had against its property and assets for all obligations hereunder, and the Guarantor does further agree that any and all
of its property and assets shall be subject to execution for any judgment or decree on or enforcing this guarantee by a court of
competent jurisdiction against the Guarantor.

 

6.                         This guarantee and
all obligations of the Guarantor hereunder shall terminate and cease at such time as the Lender receives payment in full of all
sums due and payable to it by the Borrower, including, without limitation, under the Loan Documents and all sums due and payable
to it by the Guarantor for any costs and expenses of the Lender in enforcing this guarantee and the Lender agrees, upon receipt
of payment in full of such sums, to execute and deliver a release of the Guarantor's obligations hereunder upon written request
therefor.

 

7.                         This guarantee shall
extend to and enure to the benefit of the Lender and its successors and assigns and reference herein to the Guarantor is a reference
to and shall be construed as including the respective heirs, executors, administrators and assigns of the Guarantor and shall be
binding thereon.

 

8.                         This guarantee has
been made in Ontario and for all purposes shall be construed in accordance with and governed by the laws of Ontario as an agreement
made and entered into therein by parties domiciled and resident therein and to be wholly performed therein. The Guarantor expressly
attorns to the jurisdiction of the courts of Ontario to determine all issues, whether at law or in equity, arising from this guarantee,
provided that nothing herein contained shall limit either party's right to institute proceedings against the other elsewhere.

 

9.                         In this guarantee the
masculine shall include the feminine and the neuter and vice versa and the singular shall include the plural and vice versa; words
such as "hereunder", "hereto", "hereof" and "herein" shall, unless the context clearly
indicates the contrary, refer to the whole of this guarantee and not to any particular paragraph or section hereof.

 

10.                       If any provision of
this guarantee or the application of such provision to any person or circumstance, shall be held invalid or unenforceable, the
remainder of this guarantee, or the application of such provision to persons or circumstances other than those as to which it is
held invalid or unenforceable, shall not be affected thereby.

 

11.                       The Guarantor shall
forthwith and from time to time execute and do all deeds, documents and things which in the opinion of counsel to the Lender, acting
reasonably, are necessary or advisable for giving the Lender a valid guarantee according to the intent of this guarantee or to
otherwise further the purposes hereof.

 

     

     

    

5.

 

12.                       Any notice, statement,
request for approval, approval or demand required or contemplated to be given under this guarantee shall be made in writing and
may be delivered personally or sent by certified or registered mail, return receipt requested, and addressed as follows:

 

		(a)	if to the Guarantor, at:

 

100 Rutherford Road South

Brampton, ON L6W 2J2

 

Attn: Ben Ward

 

		(b)	if to the Lender, at:

 

15466 The Gore
Road

Caledon, ON L7C
3E5

 

Attn: Michael
Steele

 

Any such notice, statement,
request, approval or demand, if delivered personally, shall be deemed to be given upon delivery and, if sent by mail, shall be
deemed to have been given three (3) days after mailing in the manner set out herein in any regularly maintained governmental post
office or branch post office, except in the event of any strike, walk-out or other similar event involving Canada Post which makes
it unlikely it would be delivered within such time. In the event of such strike, walk-out or other similar event occurring or being
threatened at the time of delivery, such notice, statement, request, approval or demand shall be delivered personally.

 

13.                       All indebtedness and
liability, present and future, of the Borrower to the Guarantor is hereby assigned to the Lender and postponed to the liability
of the Borrower to the Lender and all moneys received from the Borrower or for its account by the Guarantor shall be received and
held by the Guarantor in trust for the Lender until such time as the liability of the Borrower to the Lender is fully paid and
satisfied, all without prejudice to and without in any way limiting or lessening the liability of the Guarantor to the Lender under
this guarantee.

 

14.                       If any covenant, obligation
or provision of this guarantee, or the application thereof to any person, firm or corporation or to any circumstance shall, to
any extent, be invalid or unenforceable, the remainder of this guarantee or the application of such covenant, obligation or provision
to persons, firms or corporations or to circumstances other than those as to which it is held invalid or unenforceable, shall not
be affected thereby and each covenant, obligation and provision of this guarantee shall be separately valid and enforceable to
the fullest extent permitted by law.

 

IN WITNESS WHEREOF the
Guarantor has duly executed this guarantee as of the date first written above.

 

	2264793
        ONTARIO INC.
	 
	 	 
	Per:	/s/
    Benjamin Ward	 
	 	Name:
    Benjamin Ward	 
	 	Title:
    Secretary	 

 

     

     

    

 

SCHEDULE "A"

 

PROPERTY

 

Legally described as:

 

PT LT 4 CON 2 E.H.S. CHINGUACOUSY PTS 1 TO
4, 43R17742; T/W BR48239 ; S/T BR51139; TOGETHER WITH AN EASEMENT AS IN VS121670; CITY OF BRAMPTON

 

Being all of PIN 14032−0123(LT); LRO#
43.

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