Document:

Exhibit 10.7

 

PROMISSORY NOTE

 

	 $14,275,000 	 	New York, New York
	 	 	February 10, 2016

 

FOR VALUE RECEIVED, MEDALIST FUND I-A,
LLC, a Delaware limited liability company, as maker, having its principal place of business at 1l S. 12th Street, Suite
401, Richmond, Virginia 23219 ("Borrower"), hereby unconditionally promises to pay to the order of JEFFERIES LOANCORE
LLC, a Delaware limited liability company, as lender, having an address at c/o LoanCore Capital, 55 Railroad Avenue, Suite 100,
Greenwich, Connecticut 06830 (together with its successors and/or assigns, "Lender"), or at such other place as the holder
hereof may from time to time designate in writing, the principal sum of FOURTEEN MILLION TWO HUNDRED SEVENTY-FIVE THOUSAND AND
NO/I DOLLARS ($14,275,000) or so much thereof as is advanced pursuant to that certain Loan Agreement dated the date hereof between
Borrower and Lender (as the same may be amended, modified, supplemented, replaced or otherwise modified from time to time, the
 "Loan Agreement"), in lawful money of the United States of America, with interest thereon to be computed from the date
of this Promissory Note (this "Note") at the Interest Rate (as defined in the Loan Agreement), and to be paid in accordance
with the terms of this Note and the Loan Agreement. All capitalized terms not defined herein shall have the respective meanings
set forth in the Loan Agreement.

 

ARTICLE 1: PAYMENT TERMS

 

Borrower agrees to
pay the principal sum of this Note and interest on the unpaid principal sum of this Note and all other amounts due under this Note,
the Loan Agreement and the other Loan Documents from time to time outstanding, at the rates and at the times specified in the Loan
Agreement, and the outstanding balance of the principal sum of this Note and all accrued and unpaid interest thereon and all other
amounts due under this Note, the Loan Agreement and the other Loan Documents shall be due and payable on the Maturity Date.

 

ARTICLE 2: DEFAULT
AND ACCELERATION

 

Upon the occurrence
of a monetary Event of Default or the occurrence of any other Event of Default that continues beyond the applicable cure period,
if any, (other than an Event of Default described in paragraph (f) or (g) of Section 8.1 of the Loan Agreement) and at any time
and from time to time thereafter, in addition to any other rights or remedies available to it pursuant to the Loan Documents or
at law or in equity, Lender may take such action, without notice or demand, that Lender deems advisable to protect and enforce
its rights against Borrower and in and to the Property; including declaring the Debt to be immediately due and payable (including
unpaid interest, Default Rate interest, Late Payment Charges (except in connection with Borrower's failure to pay on Maturity Date),
Yield Maintenance Premium and any other amounts owing by Borrower), without notice or demand; and upon any Event of Default described
in paragraph (f) or (g) of Section 8.1 of the Loan Agreement, the Debt (including unpaid interest, Default Rate interest, Late
Payment Charges (except in connection with C) Borrower's failure to pay on Maturity Date), Yield Maintenance Premium and any other
amounts owing by Borrower) shall immediately and automatically become due and payable, without notice or demand, and Borrower hereby
expressly waives any such notice or demand, anything contained in any Loan Document to the contrary notwithstanding.

 

     

     

    

 

ARTICLE 3: LOAN
DOCUMENTS

 

This Note is secured
by the Mortgage and the other Loan Documents. All of the terms, covenants and conditions contained in the Loan Agreement, the Mortgage
and the other Loan Documents are hereby made part of this Note to the same extent and with the same force as if they were fully
set forth herein. In the event of a conflict or inconsistency between the terms of this Note and the Loan Agreement, the terms
and provisions of the Loan Agreement shall govern.

 

ARTICLE 4: SAVINGS
CLAUSE

 

Notwithstanding anything
to the contrary contained herein, (a) all agreements and communications between Borrower and Lender are hereby and shall automatically
be limited so that, after taking into account all amounts deemed to constitute interest, the interest contracted for, charged or
received by Lender shall never exceed the maximum non-usurious interest rate, if any, that at any time or from time to time may
be contracted for, taken, reserved, charged or received on the indebtedness evidenced by this Note and as provided for herein or
the other Loan Documents, under the laws of such State or States whose laws are held by any court of competent jurisdiction to
govern the interest rate provisions of the Loan (the "Maximum Legal Rate"), (b) in calculating whether any interest exceeds
the Maximum Legal Rate, all such interest shall be amortized, prorated, allocated and spread over the full amount and term of all
principal indebtedness of Borrower to Lender, and (c) if through any contingency or event, Lender receives or is deemed to receive
interest in excess of the Maximum Legal Rate, any such excess shall be deemed to have been applied toward the payment of the principal
of any and all then outstanding indebtedness of Borrower to Lender, or if there is no such indebtedness, shall immediately be returned
to Borrower.

 

ARTICLE 5: NO ORAL
CHANGE

 

This Note may not
be modified, amended, waived, extended, changed, discharged or terminated orally or by any act or failure to act on the part of
Borrower or Lender, but only by an agreement in writing signed by the party(ies) against whom enforcement of any modification,
amendment, waiver, extension, change, discharge or termination is sought.

 

    	 	2	 

     

    

 

ARTICLE
6: WAIVERS

 

Borrower and all
others who may become liable for the payment of all or any part of the Debt do hereby jointly and severally waive presentment and
demand for payment, notice of dishonor, notice of intention to accelerate, notice of acceleration, protest and notice of protest
and non-payment and all other notices of any kind. No release of any security for the Debt or extension of time for payment of
this Note or any installment hereof, and no alteration, amendment or waiver of any provision of this Note, the Loan Agreement or
the other Loan Documents made by agreement between Lender and any other Person shall release, modify, amend, waive, extend, change,
discharge, terminate or affect the liability of Borrower or any other Person who may become liable for the payment of all or any
part of the Debt under this Note, the Loan Agreement or the other Loan Documents. No notice to or demand on Borrower shall be deemed
to be a waiver of the obligation of Borrower or of the right of Lender to take further action without further notice or demand
as provided for in this Note, the Loan Agreement or the other Loan Documents. If Borrower is a partnership or limited liability
company, the agreements herein contained shall remain in force and be applicable, notwithstanding any changes in the individuals
or entities comprising the partnership or limited liability company, and the term "Borrower," as used herein, shall include
any alternate or successor partnership or limited liability company, but any predecessor partnership or limited liability company
and its partners or members shall not thereby be released from any liability. If Borrower is a corporation, the agreements contained
herein shall remain in full force and be applicable, notwithstanding any changes in the shareholders comprising, or the officers
and directors relating to, the corporation, and the term "Borrower," as used herein, shall include any alternative or
successor corporation, but any predecessor corporation shall not be relieved of liability hereunder. Nothing in the foregoing two
sentences shall be construed as a consent to, or a waiver of, any prohibition or restriction on transfers of interests in such
partnership, limited liability company or corporation which may be set forth in the Loan Agreement, the Mortgage or any other Loan
Document.

 

ARTICLE
7: TRANSFER

 

Upon the transfer
of this Note by Lender, Borrower hereby waiving notice of any such transfer, Lender may deliver all the collateral mortgaged, granted,
pledged or assigned pursuant to the Loan Documents, or any part thereof, to the transferee who shall thereupon become vested with
all the rights herein or under applicable law given to Lender with respect thereto, and Lender shall thereafter forever be relieved
and fully discharged from any liability or responsibility in the matter; but Lender shall retain all rights hereby given to it
with respect to any liabilities and the collateral not so transferred.

 

    	 	3	 

     

    

 

ARTICLE
8: EXCULPATION

 

The provisions of
Section 10.1 of the Loan Agreement are hereby incorporated by reference into this Note to the same extent and with the same force
as if fully set forth herein.

 

ARTICLE 9:
GOVERNING LAW; JURISDICTION; SERVICE OF PROCESS

 

(a) THIS
NOTE WAS NEGOTIATED IN THE STATE OF NEW YORK AND THE PROCEEDS OF THIS NOTE DELIVERED PURSUANT HERETO WERE DISBURSED FROM THE STATE
OF NEW YORK, WHICH STATE THE PARTIES AGREE HAS A SUBSTANTIAL RELATIONSHIP TO THE PARTIES AND TO THE UNDERLYING TRANSACTION EMBODIED
HEREBY, AND ALL RESPECTS, INCLUDING MATTERS OF CONSTRUCTION, VALIDITY AND PERFORMANCE, THIS NOTE AND THE OBLIGATIONS ARISING HEREUNDER
SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS MADE AND PERFORMED
IN SUCH STATE AND ANY APPLICABLE LAW OF THE UNITED STATES OF AMERICA, EXCEPT THAT AT ALL TIMES THE PROVISIONS FOR THE CREATION,
PERFECTION, AND ENFORCEMENT OF THE LIENS CREATED PURSUANT TO THE LOAN DOCUMENTS SHALL BE GOVERNED BY AND CONSTRUED ACCORDING TO
THE LAW OF THE STATE IN WHICH THE PROPERTY IS LOCATED, IT BEING I-NDERSTOOD THAT, TO THE FULLEST EXTENT PERMITTED BY THE LAW OF
SUCH STATE, THE LAW OF THE STATE OF NEW YORK SHALL GOVERN THE VALIDITY AND THE ENFORCEABILITY OF ALL LOAN DOCUMENTS AND THE DEBT.
TO THE FULLEST EXTENT PERMITTED BY LAW, BORROWER HEREBY UNCONDITIONALLY AND IRREVOCABLY WAIVES ANY CLAIM TO ASSERT THAT THE LAW
OF ANY OTHER JURISDICTION GOVERNS THIS NOTE, AND THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE
STATE OF NEW YORK PURSUANT TO 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW.

 

    	 	4	 

     

    

 

(b) ANY
LEGAL SUIT, ACTION OR PROCEEDING AGAINST LENDER OR BORROWER ARISING OUT OF OR RELATING TO THIS NOTE SHALL BE INSTITUTED IN ANY
FEDERAL OR STATE COURT IN NEW YORK COUNTY, NEW YORK AND BORROWER WAIVES ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO THE
LAYING OF VENUE OF ANY SUCH SUIT, ACTION OR PROCEEDING, AND BORROWER HEREBY IRREVOCABLY SUBMITS TO THE JURISDICTION OF ANY SUCH
COURT IN ANY SUIT, ACTION OR PROCEEDING. BORROWER DOES HEREBY DESIGNATE AND APPOINT RICHARD YELLEN, RICHARD L. YELLEN & ASSOCIATES,
LLP, 111 BROADWAY, 11TH FLOOR, NEW YORK, NEW YORK 10006, AS ITS AUTHORIZED AGENT TO ACCEPT AND ACKNOWLEDGE ON ITS BEHALF SERVICE
OF ANY AND ALL PROCESS WHICH MAY BE SERVED IN ANY SUCH SUIT, ACTION OR PROCEEDING IN ANY FEDERAL OR STATE COURT IN NEW YORK, NEW
YORK, AND AGREES THAT SERVICE OF PROCESS UPON SAID AGENT AT SAID ADDRESS AND WRITTEN NOTICE OF SAID SERVICE OF BORROWER MAILED
OR DELIVERED TO BORROWER IN THE MANNER PROVIDED HEREIN SHALL BE DEEMED IN EVERY RESPECT EFFECTIVE SERVICE OF PROCESS UPON BORROWER
(UNLESS LOCAL LAW REQUIRES ANOTHER METHOD OF SERVICE), IN ANY SUCH SUIT, ACTION OR PROCEEDING IN THE STATE OF NEW YORK. BORROWER
(i) SHALL GIVE PROMPT NOTICE TO LENDER OF ANY CHANGED ADDRESS OF ITS AUTHORIZED AGENT HEREUNDER, (ii) MAY AT ANY TIME AND FROM
TIME TO TIME DESIGNATE A SUBSTITUTE AUTHORIZED AGENT WITH AN OFFICE IN NEW YORK, NEW YORK (WHICH OFFICE SHALL BE DESIGNATED AS
THE ADDRESS FOR SERVICE OF PROCESS), AND (iii) SHALL PROMPTLY DESIGNATE SUCH A SUBSTITUTE IF ITS AUTHORIZED AGENT CEASES TO HAVE
AN OFFICE IN NEW YORK, NEW YORK OR IS DISSOLVED WITHOUT LEAVING A SUCCESSOR. NOTWITHSTANDING THE FOREGOING, LENDER SHALL HAVE THE
RIGHT TO INSTITUTE ANY LEGAL SUIT, ACTION OR PROCEEDING FOR THE ENFORCEMENT OR FORECLOSURE OF ANY LIEN ON ANY COLLATERAL FOR THE
LOAN IN ANY FEDERAL OR STATE COURT IN ANY JURISDICTION(S) THAT LENDER MAY ELECT IN ITS SOLE AND ABSOLUTE DISCRETION, AND BORROWER
WAIVES ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY SUCH SUIT, ACTION OR PROCEEDING, AND BORROWER
HEREBY IRREVOCABLY SUBMITS TO THE JURISDICTION OF ANY SUCH COURT IN ANY SUIT, ACTION OR PROCEEDING.

 

ARTICLE
10: WAIVER OF JURY TRIAL

 

BORROWER
AND LENDER HEREBY AGREE NOT TO ELECT A TRIAL BY JURY OF ANY ISSUE TRIABLE OF RIGHT BY JURY, AND WAIVE ANY RIGHT TO TRIAL BY JURY
FULLY To THE EXTENT THAT ANY SUCH RIGHT SHALL NOW OR HEREAFTER EXIST WITH REGARD TO THE LOAN DOCUMENTS, OR ANY CLAIM, COUNTERCLAIM
OR OTHER ACTION ARISING IN cor04ECTION THEREWITH. THIS WAIVER OF RIGHT TO TRIAL BY JURY IS GIVEN KNOWINGLY AND VOLUNTARILY BY BORROWER
AND LENDER, AND IS INTENDED TO ENCOMPASS INDIVIDUALLY EACH INSTANCE AND EACH ISSUE AS TO WHICH THE RIGHT TO A TRIAL BY JURY WOULD
OTHERWISE ACCRUE. EITHER PARTY IS HEREBY AUTHORIZED TO FILE A COPY OF THIS PARAGRAPH IN ANY PROCEEDING AS CONCLUSIVE EVIDENCE OF
THIS WAIVER BY THE OTHER.

 

    	 	5	 

     

    

 

ARTICLE
11: SUCCESSORS AND ASSIGNS

 

This Note shall be binding
upon, and shall inure to the benefit of, Borrower and Lender and their respective successors and permitted assigns. Lender shall
have the right to assign or transfer its rights under this Note in connection with any assignment of the Loan and the Loan Documents.
Any assignee or transferee of Lender shall be entitled to all the benefits afforded to Lender under this Note. Borrower shall not
have the right to assign or transfer its rights or obligations under this Note without the prior written consent of Lender, as
provided in the Loan Agreement, and any attempted assignment without such consent shall be null and void.

 

ARTICLE 12: NOTICES

 

All notices or other
written communications hereunder shall be delivered in accordance with Section 6.1 of the Loan Agreement.

 

ARTICLE 13: JOINT AND
SEVERAL LIABILITY

 

If Borrower consists
of more than one Person, the obligations and liabilities of each such Person constituting Borrower hereunder and under the other
Loan Documents shall be joint and several.

 

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

 

    	 	6	 

     

    

  

IN WITNESS WHEREOF,
has duly executed this Note as of the day and year first above written

 

	 	BORROWER:
	 	 	 
	 	WEDALIST FUND I-A, LLC, a

Delaware limited liability company

	 	 	 
	 	By:	Medalist Fund Manager, Inc., a Virginia corporation and Manager
	 	 	 	 
	 	 	BY: 	/s/ William R. Elliott
	 	 	Name: 	William R. Elliott
	 	 	Title: 	Co-PresidentExhibit 10.8

 

	 	Type:  CONSOLIDATED REAL PROPERT'
	 	Recorded: 2/1012016 2:58:37 PM
	 	Fee Amt:  $84.00 Page 1 of 22
	 	Gaston, NC
	 	 	Susan S. Lockridge Register of Deeds

  

BK
4828PG 2358 - 237

 

 

 

MEDALIST FUND
I-A, LLC

(Trustor)

 

to

 

BRIAN L. CARR

(Trustee)

 

for the Benefit
of

 

JEFFERIES LOANCORE
LLC

(Beneficiary)

 

 

 

DEED OF TRUST,
ASSIGNMENT OF LEASES AND RENTS

AND SECURITY
AGREEMENT

 

Dated:
As of February 10, 2016

 

Property Location:

3924-3940 East
Franklin Boulevard,

Gastonia, Gaston County, North Carolina 28056

 

	THIS DOCUMENT PREPARED BY:	WHEN RECORDED MAIL TO:
	Jefferies LoanCore LLC	Carlton Fields
	c/o LoanCore  Capital	One At1antic Center
	SS Railroad Avenue #100	1201 W. Peachtree Street, NW
	Greenwich, Connecticut 06830	Suite 3000
	Attention: Dan Bennett	Atlanta, Georgia 30309
	Facsimile No.: (203) 861-6006	Attention: W. Gregory Null, Esq.

 

 

 

Submitted electronically by
Hervey and Hervey in compliance with North Carolina statues governing recordable documents and the terms of the submitter agreement
with the Gaston County Register of Deeds.

 

    	 		

     

    

 

	Original Recorded With

                                                                 Cover Sheet

 

AITENTION:
COUNTY RECORDER - THIS INSTRUMENT COVERS GOODS THAT ARE OR ARE TO BECOME FIXTURES ON THE PROPERTIES DESCRIBED HEREIN MTD
IS TO BE FILED FOR RECORD IN THE RECORDS WHERE DEEDS OF TRUST ON REAL ESTATE ARE RECORDED. ADDITIONALLY, THIS INSTRUMENT
SHOULD BE APPROPRIATELY INDEXED, NOT ONLY AS A DEED OF TRUST, BUT ALSO AS A FINANCING STATEMENT COVERING GOODS THAT ARE OR
ARE TO BECOME FIXTURES ON THE REAL PROPERTY DESCRIBED HEREIN. THE MAILING ADDRESSES OF THE TRUSTOR (DEBTOR) AND BENEFICIARY
(SECURED PARTY) ARE SET FORTH IN THIS INSTRUMENT.

 

ORGANIZATION IDENTIFICATION NUMBER OF TRUSTOR/DEBTOR:
5400508

 

    	 		

     

    

 

This
DEED OF TRUST, ASSIGNMENT OF LEASES AND RENTS AND SECURITY AGREEMENT (this "Deed of Trust'), made as of February
10, 2016 by MEDALIST FUND 1-A, LLC, a Delaware limited liability company, having an office at 11 S. 12th Street, Suite 401,
Richmond, Virginia 23219 ("Trustor'), to BRIAN L. CARR, having an address at 901 E. Byrd Street, Suite 1100,
Richmond, Virginia 23219 ("Trustee,), as Trustee, for the benefit of JEFFERIES LOANCORE LLC, a Delaware limited
liability company (together with its successors and assigns, hereinafter referred to as "Beneficiary"),
having an address c/o LoanCore Capital, 55 Railroad Avenue, Suite 100, Greenwich, Connecticut 06830.

 

Trustor
and Beneficiary have entered into a Loan Agreement dated as of the date hereof (as amended, modified, restated, consolidated or
supplemented from time to time, the “Loan Agreement”) to which Beneficiary
is making a secured loan to Trustor in the aggregate
original principal amount of $14,275,000.00 (the 0Loan "). Capitalized terms used
herein without definition ere used as defined in the Loan Agreement. The Loan is evidenced by
a Note dated the date hereof made by Trustor to Beneficiary in
such principal amount (as the same may be amended, modified, restated, severed, consolidated, renewed, replaced, or supplemented
from time to time, the "Note").

 

To secure the payment of the Note and all sums which may
or shall become due thereunder or under any of the other documents evidencing, securing or executed
in connection with the Loan (the Note, this Deed of Trust, the Loan Agreement and such other
documents, as any of the same may, from time to time, be modified, amended or supplemented, being hereinafter collectively referred
to as the "Loan Documents"),
including (i) the payment of interest and other amounts which would accrue and become due
but for the filing of a petition in bankruptcy(whether or not a claim
is allowed against Trustor for such interest or other amounts in any such bankruptcy proceeding) or the operation of the automatic
stay under Section 362(a) of Title 11 of the United States Code (the "Bankruptcy Code0 ,
and (ii) the costs and expenses of enforcing any provision of any Loan Document (all such
sums being hereinafter collectively referred to as the “Debt” has given, granted, bargained, sold, alienated, enfeoffed,
conveyed, confirmed, warranted, pledged, assigned, and hypothecated and by these presents dos hereby give, grant, bargain, sell,
alien, enfeoff, convey, confirm, warrant, pledge, assign, and hypothecate unto Trustee, in trust for the benefit of Beneficiary,
WITH POWER OF SALE, the land described in Exhibit A (the “Premises”), and the building, structures, fixtures,
and other improvements now or hereafter located thereon (the “Improvements”);

 

TOGETHER
WITH: all right, title, interest and estate of Trustor now owned, or hereafter acquired, in and to the following property, rights,
interests and estates (the Premises, the Improvements, and the property, rights, interests and estates hereinafter described are
collectively referred to herein as the "Trust Property”):

 

      (a)       all
easements, rights of way, strips and gores of land, streets, ways, alleys, passages, sewer rights, water, water courses, water
rights and powers, air rights and development rights, rights to oil, gas, minerals, coal and other substances of any kind or character,
and all estates, rights, titles, interests, privileges, liberties, tenements, hereditaments and appurtenances of any nature whatsoever,
in any way belonging, relating or pertaining to the Premises and the Improvements; and the reversion and reversions, remainder
and remainders, and all land lying in the bed of any street, road, highway, alley or avenue, open vacated or proposed, in front
of or adjoining the Premises, to the center line thereof; and all the estates, rights, titles,
interests, dower and rights of dower, curtesy and rights of curtesy, property, possession, claim and demand whatsoever, both at
law and in equity, of Trustor of, in and to the Premises and the Improvements and every part and parcel thereof, with the appurtenances
thereto;

 

    	 		

     

    

 

 

      (b)       all
machinery, furniture, furnishings, equipment, computer software and hardware, fixtures (including all beating, air conditioning,
plumbing, lighting, communications and elevator fixtures), inventory, materials, supplies and other articles of personal property
and accessions thereof, renewa1s and replacements thereof and substitutions therefor, arid other property of every kind and nature,
tangible or intangible, owned by Trustor, or in which Trustor has or shall have an interest, now or hereafter located upon the
Premises or the Improvements, or appurtenant thereto, and usable in connection with the present or future operation and occupancy
of the Premises and the Improvements (hereinafter collectively referred to as the "Equipme11f' ), including any leases
of, deposits in connection with, and proceeds of any sale or transfer of any of the foregoing, and the right, title and interest
of Trustor in and to any of the Equipment that may be subject to any "security interest" as defined in the Uniform Commercial
Code, as in effect in the State where the Trust Property is located (the "UCC'), superior in lien to the lien of this
Deed of Trust;

 

      (c)       all
awards or payments, including interest thereon, that may heretofore or hereafter be made with respect to the Premises or the Improvements,
whether from the exercise of the right of eminent domain or condemnation (including any transfer made in lieu of or in anticipation
of the exercise of such right), or for a change of grade, or for any other injury to or decrease in the value of the Premises or
Improvements;

 

      (d)       all
leases, subleases and other agreements or arrangements heretofore or hereafter entered into affecting the use, enjoyment or occupancy
of, or the conduct of any activity upon or in, the Premises or the Improvements, including any extensions, renewals, modifications
or amendments thereof (hereinafter collectively referred to as the "Leases")and all rents, rent equivalents, moneys
payable as damages (including payments by reason of the rejection of a Lease in a Bankruptcy Proceeding or in lieu of rent or rent
equivalents), royalties (including all oil and gas or other mineral royalties and bonuses), income, fees, receivables, receipts,
revenues, deposits (including security, utility and other deposits), accounts, cash, issues, profits, charges for services rendered,
and other consideration of whatever form or nature received by or paid to or for the account of or benefit of TJ11Stor or its agents
or employees from any and all sources arising from or attributable to the Premises and the Improvements, including a11 receivables,
customer obligations, installment payment obligations and other obligations now existing or hereafter arising or created out of
the sale, lease, sublease, license, concession or other grant of the right of the use and occupancy of the Premises or the Improvements,
or rendering of services by Trustor or any of its agents or employees, and proceeds, if any, from business interruption or other
loss of income insurance (hereinafter collectively referred to as the "Rents"), together with a11proceeds from
the sale or other disposition of the Leases and the right to receive and apply the Rents to the payment of the Debt;

 

      (e)       all
proceeds of and any unearned premiums on any insurance policies covering the Trust Property, including, without limitation, the
right to receive and apply the proceeds of any insurance, judgments, or settlements made in lieu thereof, for damage to the Trust
Property;

 

    	 		

     

    

 

      (f)       the
right, in the name and on behalf of Trustor, to appear in and defend any action or proceeding
brought with respect to the Trust Property and to commence any action or proceeding to protect the interest of Beneficiary in the
Trust Property;

 

      (g)       all
accounts (including reserve accounts), escrows, documents, instruments, chattel paper, claims, deposits and general intangibles,
as the foregoing terms are defined in the UCC, and all franchises, trade names, trademarks, symbols, service marks, books, records,
plans, specifications, designs, drawings, surveys, title insurance
policies, permits, consents, licenses, management agreements, contract rights (including any contract with any architect or engineer
or with any other provider of goods or services for or in connection with any construction,
repair or other work upon the Trust Property), approvals, actions, refunds of real estate taxes and assessments (and any other
governmental impositions related to the Trust Property) and causes of action that now or hereafter relate to, are derived from
or are used in connection with the Trust Property, or the use, operation, maintenance, occupancy
or enjoyment thereof or the conduct of any business or activities thereon (hereinafter collectively referred to as the “Intangibles”);
and

 

      (h)       all
proceeds, products, offspring, rents and profits from any of the foregoing, including those
from sale, exchange, transfer, collection, loss, damage, disposition, substitution or replacement of any of the foregoing.

 

      Without
limiting the generality of any of the foregoing, in the event that a case wider the Bankruptcy Code is commenced by or against
Trustor, pursuant to Section 552(b)(2) of the Bankruptcy Code, the security interest granted by
this Deed of Trust shall automatically extend to all
Rents acquired by the Trustor after the commencement of the case and shall constitute cash
collateral under Section 363(a) of the Bankruptcy Code.

 

      TO
HAVE AND TO HOLD the Trust Property unto and to the use and benefit of Beneficiary and its
successors and assigns, forever;

 

      PROVIDED,
HOWEVER, these presents are upon the express condition that, if Trustor shall well and truly pay to Beneficiary the Debt
at the time and in the manner provided in the Loan Documents
and shall well and truly abide by and comply with each and every covenant and condition set forth in the Loan Documents in a timely
manner, these presents and the estate hereby granted shall cease, terminate and be void;

 

      AND
Trustor represents and warrants to and covenants and agrees with Beneficiary as follows:

 

PART I.- GENERAL PROVISIONS

 

      1.       Payment
of Debt and Incorporation of Covenants, Conditions and Agreements. Trustor shall pay the Debt at the time and in the manner
provided in the Loan Documents. All the covenants, conditions
and agreements contained in the Loan Documents are hereby made a part of this Deed of Trust to the same extent and with
the same force as if fully set forth herein.

 

    	 		

     

    

 

      2.       Leases
and Rents.

 

        (a)       Trustor
does hereby absolutely and unconditionally assign to Beneficiary all of Trustor's right, title and interest in all current and
future Leases and Rents, it being intended by Trustor that this assignment constitutes
a present, absolute assignment and not an assignment for additional security only. Such assignment shall not be construed to bind
Beneficiary to the performance of any of the covenants or provisions
contained in any Lease or otherwise impose any obligation upon Beneficiary. Nevertheless, subject to the terms of this paragraph,
Beneficiary grants to Trustor a revocable license to operate and manage the Trust Property and to collect the Rents subject to
the requirements of the Loan Agreement (including the deposit of Rents into the Clearing Account). Upon an Event of Default, without
the need for notice or demand (except as otherwise specifically set forth in the Loan Agreement with respect to a non-monetary
Event of Default or as required by applicable law, in either case if any), the license granted to Trustor herein shall automatically
be revoked, and Beneficiary shall immediately be entitled to possession of all Rents in the Clearing Account, the Deposit Account
(including all Subaccounts thereof) and all Rents collected thereafter (including Rents past due and unpaid), whether or not Beneficiary
enters upon or takes control of the Trust Property. Trustor hereby grants and assigns to Beneficiary the right, at its option,
upon revocation of the license granted herein, to enter upon the Trust Property in person, by agent or by court appointed receiver
to collect the Rents. Any Rents collected after the revocation of such license may be applied toward payment of the Debt in such
priority and proportions as Beneficiary in its sole discretion shall deem proper.

 

        (b)       Trustor
shall not enter into, modify, amend, cancel, terminate, or renew any Lease except as provided in Section 5.10 of the Loan Agreement.

 

      3.       Use
of Trust Property. Trustor shall not initiate, join in,
acquiesce in or consent to any change in any private
restrictive covenant, zoning law
or other public or private restriction, limiting or defining the uses which may be made of the Trust Property. If under applicable
zoning provisions the use of the Trust Property is or shall become a nonconforming use, Trustor shall not cause or permit such
nonconforming use to be discontinued or abandoned without the consent of Beneficiary. Trustor shall not (i)
change the use of the Trust Property, (ii) permit or
suffer to occur any ·material physical waste on
or to the Trust Property or (iii) take any steps to convert the Trust Property to a condominium
or cooperative form of ownership.

 

      4.       Transfer
or Encumbrance of the Trust Property.

 

        (a)       Trustor
acknowledges that (i) Beneficiary has examined and relied on the creditworthiness and experience of the principals of Trustor in
owning and operating properties such as the Trust Property in agreeing to make the Loan, (ii)
Beneficiary will continue to rely on Trustor's ownership
of the Trust Property as a means of maintaining the value
of the Trust Property as security for the Debt, and (iii) Beneficiary has a valid interest
in maintaining the value of the Trust Property so as to ensure that, should Trustor default in
the repayment of the Debt, Beneficiary can recover the Debt by a sale of the Trust Property.
Trustor shall not sell, convey, alienate, mortgage, encumber, pledge or otherwise transfer the Trust Property or any part thereof,
or suffer or permit any Transfer to occur, other than a Permitted Transfer.

 

    	 		

     

    

 

        (b)       Beneficiary
shall not be required to demonstrate any actual impairment
of its security or any increased risk of default hereunder in order to declare the Debt immediately
due and payable upon Transfer in violation of this Paragraph 4. This provision shall apply
to every sale, conveyance, alienation, mortgage, encumbrance, pledge or transfer of the Trust Property (and every other Transfer)
regardless of whether voluntary or not. Any Transfer made in contravention of this
Paragraph 4 shall be nu11 and void and of no force and effect. Trustor agrees to bear and
shall pay or reimburse Beneficiary on demand for all reasonable expenses (including reasonable attorneys' fees and disbursements,
title search costs and title insurance endorsement premiums) incurred by Beneficiary in
connection with the review, approval and documentation of any
Permitted Transfer.

 

      5.       Changes
in Laws Regarding Taxation. If any law is enacted
or adopted or amended after the date of this Deed of Trust which deducts the Debt from the value of the Trust Property for the
purpose of taxation or which imposes a tax, either directly or indirectly, on the Debt or Beneficiary's interest in the Trust Property,
Trustor will pay such tax, with interest and penalties thereon, if any. If Beneficiary is
advised by its counsel that the payment of such tax or interest and penalties by Trustor would
be unlawful, taxable to Beneficiary or unenforceable, or would provide the basis for a defense of usury, then Beneficiary shall
have the option, by notice of not less than 90 days, to declare the Debt immediately due and payable.

 

      6.       No
Credits on Account of the Debt. Trustor shall not claim
or demand or be entitled to any credit on account of the Debt for any part of the Taxes or Other Charges assessed against the Trust
Property, and no deduction shall otherwise be made or claimed from the assessed value of the Trust Property for real estate tax
purposes by reason of this Deed of Trust or the Debt. If such claim, credit or deduction shall be required by
law, Beneficiary shall have the option, by notice of not less than 90 days, to declare the
Debt immediately due and payable.

 

      7.       Further
Acts, Etc. Trustor shall, at its sole cost, duly execute, acknowledge
and deliver all and every such further acts, deeds, conveyances, mortgages, assignments, notices
of assignment, transfers and assurances as Beneficiary shall, from time to time, reasonably require, for the better assuring, conveying,
assigning, transferring, and confirming unto Beneficiary the property and rights hereby mortgaged, given, granted,
bargained, sold, alienated, enfeoffed, conveyed, confirmed, pledged, assigned and hypothecated or intended now or hereafter so
to be, or which Trustor may be or may hereafter become bound to convey or assign to Beneficiary, or for carrying out the intention
or facilitating the performance of the terms of this Deed of Trust, or for filing, registering or recording this Deed of Trust
or for facilitating the sale and transfer of the Loan and the Loan Documents in connection
with a Secondary Market Transaction as described in Section
9.1 of the Loan Agreement. Upon foreclosure, the appointment of a receiver or any other relevant action, Trustor shall, at its
sole cost, cooperate fully and completely to affect the assignment or transfer of any license, permit, agreement
or any other right necessary or useful to the operation of the Trust Property. Trustor grants
to Beneficiary an irrevocable power of attorney coupled with an
interest for the purpose of exercising
and perfecting any and all rights and remedies available to
Beneficiary at law and in equity,
including such rights and remedies available to Beneficiary pursuant to
this paragraph. Notwithstanding anything to the contrary in the immediately preceding sentence,
Beneficiary shall not execute any document as attorney-in-fact of Trustor unless (x) Trustor shall have failed or refused to execute
the same within five (5) Business Days after Beneficiary's
request therefor, or (y) in
Beneficiary's good faith determination it would be materially
prejudiced by the delay involved in making such a request. Beneficiary shall give prompt notice
to Trustor of any exercise of the power of attorney as provided for in this Paragraph 7, along with copies
of all documents executed in
connection therewith.

 

    	 		

     

    

 

      8.       Recording of Deed of Trust,
Etc.  Trustor forthwith upon the execution
and delivery of this Deed of Trust
and thereafter, from
time to time, shall cause this Deed of Trust, and any security
instrument creating a lien or security interest or evidencing the lien hereof upon the Trust
Property and each instrument of
further assurance to be filed, registered or recorded in such manner and in such places
as may be required by any present or future law in order to
publish notice of and fully
to protect the lien or security interest hereof upon
and the interest of Beneficiary in, the Trust
Property. Trustor shall pay all filing, registration or recording fees all expenses incident to the preparation, execution
and acknowledgment of and all federal, state, county and municipal, taxes, duties,
imposts, documentary stamped assessments and charges arising
out of or in connection with the execution
and delivery of, this Deed of Trust, any deed
of trust supplemental hereto, any security instrument with respect to the Trust Property or any instrument of further
assurance, except where prohibited by law so to do. Trustor shall hold harmless
and indemnify Beneficiary, its successors and assigns, against any liability incurred
by reason of the imposition
of any tax on the making or
recording of this Deed of Trust.

 

      9.       Right
to Cure Defaults. Upon the occurrence of any Event of Default beyond
the applicable cure period, if
any, Beneficiary may, but without any obligation
to do so and without notice to
or demand on Trustor (except
as otherwise specifically set forth in the Loan Agreement
with respect to a non-monetary Event of Default or as required by applicable
Jaw, in either case if any) and without releasing Trustor from any
obligation hereunder, perform the obligations in Default in
such manner and to such extent as Beneficiary may deem
necessary to protect the security hereof. Beneficiary is authorized
to enter upon the Trust Property for such purposes or appear
in, defend or bring any action
or proceeding to protect its interest
in the Trust Property or to foreclose this
Deed of Trust or collect the Debt,
and the cost and expense thereof (including
reasonable attorneys' fees and disbursements to the extent permitted by
law), with interest thereon
at the Default Rate
for the period after notice from Beneficiary
that such cost or expense
was incurred to the date of payment to Beneficiary, shall
constitute a portion of the Debt, shall be secured
by this Deed of Trust
and the other Loan Documents and shall be due
and payable to Beneficiary upon demand.

 

    	 		

     

    

 

      10.     Remedies.

 

(a)       Upon
the occurrence of any Event of Default, Beneficiary may take such action,
without notice or demand, as it deems advisable
to protect and enforce its rights against Trustor
and in and to the Trust
Property, by Beneficiary itself or
otherwise, including the following actions, each
of which may be pursued concurrently
or otherwise, at such time and in such order as Beneficiary
may determine, in its sole discretion,
without impairing or otherwise affecting the other rights and remedies of Beneficiary:

 

(i)       declare
the entire Debt to be immediately due and payable;

 

(ii)      give
such notice of default and of election to cause the Trust Property to be sold as may
be required by law
or as may be necessary
to cause Trustee to
exercise the power of sale granted herein;
Trustee shall then
record and give such notice of Trustee's sale as then required
by law and, after the expiration of such time as may be required
by law, may sell the Trust Property at the time and place specified in the notice of
sale, as a whole or in separate parcels as directed by Beneficiary, or
by Trustor to the extent required by law, at public auction to the highest bidder for cash in lawful
money of the United States, payable at time of sale, all in
accordance with applicable law.
Trustee, from time to time, may postpone or continue the sale of all
or any portion of the Trust Property by public declaration at the time and place last appointed
for the sale and no other notice of the postponed sale shall be required unless provided by
applicable law. Upon any sale, Trustee shall deliver its deed
conveying the property sol without any covenant or warranty,
expressed or implied to the purchaser or purchasers at the sale. The recitals in such
deed of any matters or
facts shall be conclusive as to the accuracy thereof;

 

(iii)      institute
a proceeding or proceedings, judicial or nonjudicial, to the extent permitted by law, by
advertisement or otherwise,
for the complete foreclosure of this Deed of Trust,
in which case
the Trust Property may
be sold for cash or upon
credit in one or more parcels or in
several interests or portions and in any
order or manner;

 

(iv)     with
or without entry, to the extent permitted and pursuant to
the procedures provided by applicable law, institute proceedings
for the partial foreclosure of this Deed of Trust for the portion of the Debt then due
and payable, subject to the continuing lien of this Deed of Trust for the balance of the Debt not
then due;

 

(v)      sell for cash or upon credit
the Trust Property and all estate, claim, demand right, title and interest of Trustor
therein and rights of redemption thereof, pursuant to the power
of sale, to the extent permitted by law, or otherwise, at one or more sales, as an entirety or in parcels, at such time and place,
upon such terms and after such notice thereof as may be
required or permitted by law;

 

(vi)     institute
an action, suit or proceeding
in equity for the specific performance of
any covenant, condition or agreement
contained herein or in any other Loan Document;

 

(vii)    recover
judgment on the Note either before, during or after any proceeding
for the enforcement of this Deed of Trust;

 

(viii)   apply
for the appointment of
a trustee, receiver, liquidator or conservator of the Trust Property, without notice and without
regard for the adequacy of the security for the Debt end
without regard for the solvency of the Trustor or of any person, firm or other entity liable
for the payment of the Debt;

 

    	 		

     

    

 

(ix)     enforce
Beneficiary' s interest in the Leases and Rents and enter into or upon the Trust Property,
either personally or by its agents, nominees or attorneys and dispossess Trustor and its agents and employees therefrom and thereupon
Beneficiary may (A) use, operate, manage,
control, insure, maintain, repair, restore and
otherwise deal with the Trust Property and conduct the business thereat; (B) complete
any construction on the Trust Property in such manner
and form as Beneficiary deems advisable; (C) make alterations, additions, renewals, replacements and improvements to or on the
Trust Property; (D) exercise all rights and powers of Trustor with respect to the Trust Property,
in accordance with the Leases, whether in the name of Trustor or otherwise, including the
right to make, cancel, enforce or modify Leases, obtain and evict tenants, and demand, sue
for, collect and receive Rents; and (E) apply the receipts from the Trust Property to the
payment of the Debt, after deducting therefrom all expenses (including reasonable attorneys' fees
and disbursements) incurred in connection with the aforesaid
operations and all amounts necessary to pay the Taxes,
insurance and other charges in connection with
the Trust Property, as well as just and reasonable compensation for the services of Beneficiary, and its counsel, agents and employees;

 

(x)
       require Trustor to pay monthly in advance to Beneficiary, or any receiver appointed to
collect the Rents, the fair and reasonable rental value for the use and occupation of any portion
of the Trust Property occupied by Trustor, and
require Trustor to vacate and surrender possession of the Trust Property to Beneficiary or to such receiver, and, in default thereof,
evict Trustor by summary proceedings or otherwise; or

 

(xi)
      pursue such other rights and remedies as may be available at law
or in equity or under the UCC, including the right
to receive and/or establish a lock box for all Rents and proceeds from the Intangibles and any other receivables or rights to payments
of Trustor relating to the Trust Property.

 

In the event of a sale, by foreclosure or otherwise,
of1ess than all of the Trust Property, this Deed of Trust shall continue as a lien on the remaining portion of the Trust Property.

 

(b)
      The proceeds of any sale made under or by virtue of
this Paragraph 10, together with any other sums which then may be held by Beneficiary
under this Deed of Trust, whether under the provisions of this paragraph or otherwise, shall be applied by Beneficiary to the
payment of the Debt in such priority and proportion as Beneficiary in its sole discretion
shall deem proper.

 

(c)       Beneficiary may adjourn from time to time any
sale by it to be made under or by virtue of this Deed of Trust by
announcement at the time and place appointed for such sale or for
such adjourned sale or sales; and, except as otherwise provided by any applicable law, Beneficiary,
without further notice or publication, may make such sale at the time and place to which
the same shall be so adjourned.

 

    	 		

     

    

 

(d)       Upon
the completion of any sale or sales pursuant hereto, Beneficiary, or an officer of any court empowered to do so, shall execute
and deliver to the accepted purchaser or purchasers a good and sufficient instrument, or good
and sufficient instruments, conveying, assigning and transferring all estate, right, title and interest in
and to the property and rights sold. Beneficiary is hereby irrevocably appointed the true
and lawful attorney of Trustor, in its name and
stead, to make all necessary conveyances, assignments, transfers and deliveries of the Trust
Property and rights so sold and for that purpose Beneficiary may execute all necessary instruments of conveyance, assignment and
transfer, and may substitute one or more persons with like power, Trustor hereby ratifying and confirming all that its said attorney
or such substitute or substitutes shall lawfully do by virtue hereof. Any sale or sales made
under or by virtue of this Paragraph l 0, whether made under the power of sale herein granted or under or by
virtue of judicial proceedings or of a judgment or decree of foreclosure and sale, shall operate to divest all the estate, right,
title, interest, claim and demand whatsoever, whether at law or in equity, of Trustor in
and to the properties and rights so sold, and shall be a perpetual bar both at law and in equity against Trustor and against any
and all persons claiming or who may claim the same, or any part thereof: from, through or under Trustor.

 

(e)       Upon
any sale made under or by virtue of this Paragraph 10, whether made under a power of sale
or under or by virtue of judicial proceedings or of a judgment or decree of foreclosure and sale, Beneficiary may bid for and acquire
the Trust Property or any part thereof and in lieu of paying cash therefor may make settlement
for the purchase price by crediting
upon the Debt the net sales price after deducting therefrom the expenses of the sale and costs of the action and any
other sums which Beneficiary is authorized to deduct under this Deed of Trust or any other Loan Document.

 

(f)       No
recovery of any judgment by Beneficiary and no levy of an execution under any judgment upon the Trust Property or upon any other
property of Trustor shall affect in any manner or to any extent the lien of
this Deed of Trust upon the Trust Property or any part thereof, or any liens, rights, powers or remedies of Beneficiary hereunder,
but such liens, rights, powers and remedies of Beneficiary shall continue unimpaired as before.

 

(g)       Beneficiary
may terminate or rescind any proceeding or other action brought in connection with its exercise of the remedies provided in
this Paragraph 10 at any time before the conclusion thereof as determined in Beneficiary's sole discretion and without prejudice
to Beneficiary.

 

(h)       Beneficiary
may resort to any remedies and the security given by this Deed of Trust or in any other Loan
Document in whole or in part and in such portions and in such order as determined by Beneficiary's
sole discretion. No such action shall in any way be considered a waiver of any rights, benefits or remedies evidenced or provided
by any Loan Document. The failure of Beneficiary to exercise any right, remedy or option provided
in any Loan Document shall not be deemed a waiver of such right, remedy or option or of any
covenant or obligation secured by any Loan Document. No acceptance by Beneficiary of any payment after the occurrence of any Event
of Default and no payment by Beneficiary of any obligation for which Trustor is liable hereunder shall be deemed to waive or cure
any Event of Default, or Trustor's liability to pay such obligation. No sale of all or any portion of the Trust Property, no forbearance
on the part of Beneficiary, and no extension of time for the payment of the whole or any portion of the Debt or any other indulgence
given by Beneficiary to Trustor, shall operate to release or in any manner affect the interest of Beneficiary in the remaining
Trust Property or the liability of Trustor to pay the Debt. No waiver by Beneficiary shall be effective unless it is in writing
and then only to the extent specifically stated. All costs and expenses of Beneficiary in exercising its rights and remedies under
this Paragraph IO (including reasonable attorneys' fees and disbursements to the extent permitted
by law), shall be paid by Trustor immediately upon notice from Beneficiary, with interest at the Default Rate for the period after
notice from Beneficiary, and such costs and expenses shall constitute a portion of the Debt and shall be secured by this Deed of
Trust.

 

    	 		

     

    

 

(i)       The
interests and rights of Beneficiary under the Loan Documents shall not be impaired by any
indulgence, including (i) any renewal, extension or modification
which Beneficiary may grant with respect to any of the
Debt, (ii) any surrender, compromise, release, renewal, extension, exchange or substitution which Beneficiary may grant with respect
to the Trust Property or any portion thereof or (iii} any release or indulgence granted to
any maker, endorser, guarantor or surety of any of the Debt.

 

11.       Right
of Entry. In addition to any other rights or remedies granted under this Deed of Trust and
in accordance with the Leases and the rights of the tenants thereunder, Beneficiary and its agents shall have the right to enter
and inspect the Trust Property at any reasonable time during the term of this Deed of Trust. The cost of such inspections or audits
shall be borne by Trustor should Beneficiary determine that an Event of Default exists, including
the cost of all follow up or additional investigations or inquiries deemed reasonably necessary by
Beneficiary. The cost of such inspections, if not paid for by Trustor following demand, may be added to the principal balance of
the sums due under the Note and this Deed of Trust and shall bear interest thereafter until paid at the Default Rate.

 

12.       Security
Agreement. This Deed of Trust is both a real property deed of trust and a "security agreement" within the meaning of
the UCC. The Trust Property includes both real and personal property and all other rights and interests, whether tangible or intangible
in nature, of Trustor in the Trust Property. Trustor by executing and delivering this Deed
of Trust has granted and hereby grants to Beneficiary, as security for the Debt, a security interest in the Trust Property to the
full extent that the Trust Property may be subject to the UCC (such portion of the Trust Property so subject to the UCC being called
in this paragraph the "Collateral' ). The foregoing sentence is intended to grant
in favor of Beneficiary a first priority continuing lien and security interest in all of Trustor's assets. Trustor authorizes Beneficiary
and its counsel to file UCC financing statements in form and substance satisfactory to Beneficiary,
describing the collateral as "all assets of Trustor, whether now owned or existing -or hereafter acquired or arising and wheresoever
located, and all proceeds and products thereof, including, without limitation, all fixtures on the Premises" or words to that
effect, and any limitations on such collateral description, notwithstanding that such collateral description may
be broader in scope than the Collateral described in this Deed of Trust. This Deed of Trust
shall also constitute a “fixture filing” for the purposes of the UCC. As such,
this Deed of Trust covers all items of the Collateral that are or are to become fixtures. Information concerning the security interest
herein granted may be obtained from the parties at the addresses of the parties set forth
in the first paragraph of this Deed of Trust. If an Event of Default shall occur, Beneficiary,
in addition to any other rights and remedies which it may have, shall have and may exercise
immediately and without demand, any and all rights and remedies granted to a secured party upon defau1t under the UCC, including,
without limiting the generality of the foregoing, the right to take possession of the Collateral or any part
thereof, and to take such other measures as Beneficiary may deem necessary for the care, protection and preservation of the Collateral.
Upon request or demand of Beneficiary, Trustor shall at its expense assemble the Collateral and make it available to Beneficiary
at a convenient place acceptable to Beneficiary. Trustor shall pay to Beneficiary on demand any and all expenses, including reasonable
attorneys' fees and disbursements, incurred or paid by Beneficiary in protecting the interest
in the Collateral and in enforcing the rights hereunder with respect to the Collateral. Any
notice of sale, disposition or other intended action by Beneficiary with respect to the Collateral,
sent to Trustor in accordance with the provisions hereof at least ten days prior to such action,
shall constitute commercially reasonable notice to Trustor. The proceeds of any disposition of the Col1ateral, or any part thereof,
may be applied by Beneficiary to the payment of the Debt in
such priority and proportions as Beneficiary in its sole discretion shall deem proper. In
the event of any change in name, identity or structure of Trustor, Trustor shall notify Beneficiary thereof and promptly after
request shall execute, file and record such UCC forms as are necessary to maintain the priority of Beneficiary' s lien upon and
security interest in the Collateral, and shall pay all expenses and fees in
connection with the filing and recording thereof. If
Beneficiary shall require the filing or recording of additional UCC forms or continuation statements, Trustor shall, promptly after
request, execute, file and record such UCC forms or continuation statements as Beneficiary shall deem necessary, and shall pay
all expenses and fees in connection with the filing and recording thereof, it being understood and agreed, however, that no such
additional documents shall increase Trustor's obligations under the Loan Documents.

 

    	 		

     

    

 

13.       Actions
and Proceedings. Beneficiary has the right to appear in and defend any action or proceeding
brought with respect to the Trust Property and to bring any action or proceeding, in the name and on beha1f of Trustor, which Beneficiary,
in its sole discretion, decides should be brought to protect its or their interest in the Trust Property. Beneficiary shall, at
its option, be subrogated to the lien of any deed of trust or other security instrument discharged
in whole or in part by the Debt, and any such subrogation
rights shall constitute additional security for the payment of the Debt.

 

14.       Marshalling
and Other Matters. Trustor hereby waives, to the extent permitted by law, the benefit of all appraisement, valuation, stay, extension,
reinstatement and redemption laws now or hereafter in force and all rights of marshalling in
the event of any sale hereunder of the Trust Property or any
part thereof or any interest therein. Further, Trustor hereby expressly waives any
and all rights of redemption from sale under any order or decree of foreclosure of this Deed of Trust on behalf of Trustor, and
on behalf of each and every person acquiring any interest in or title to the Trust Property subsequent to the date of this Deed
of Trust and on behalf of all persons to the extent permitted by applicable law. The lien
of this Deed of Trust shall be absolute and unconditional and shall not in any manner be
affected or impaired by any acts or omissions whatsoever of Beneficiary and, without limiting
the generality of the foregoing., the lien hereof shall not be impaired by (i) any acceptance
by Beneficiary of any other security for any
portion of the Debt, (ii) any failure, neglect or omission on the part of Beneficiary to realize upon or protect any portion
of the Debt or any collateral security therefor or (iii) any release (except as to the property
released), sale, pledge, surrender, compromise, settlement, renewal, extension, indulgence, alteration, change, modification or
disposition of any portion of the Debt or of any of the collateral security therefor; and
Beneficiary may foreclose, or exercise any other remedy available to Beneficiary under other Loan Documents without first
exercising or enforcing any of its remedies under this Deed of Trust, and any exercise of the rights
and remedies of Beneficiary hereunder shall not in any manner impair the Debt or the liens of any other Loan Document or any of
Beneficiary' s rights and remedies thereunder.

 

    	 		

     

    

 

15.       Notices.
All notices, consents, approvals and requests required or permitted hereunder shall be in writing, md shall be sent, and shall
be deemed effective, as provided in the Loan Agreement.

 

16.       Inapplicable
Provisions. If any term,
covenant or condition of this Deed of Trust illegal or unenforceable in any respect, this
Deed of Trust shall be construed without such provision.

 

17.       Headings.
The paragraph headings in this Deed of Trust are for convenience of reference only and are not to be construed as defining or limiting,
in any way, the scope or intent of the provisions hereof.

 

18.       Duplicate
Originals. This Deed of Trust may be executed
in any number of duplicate originals and each such duplicate original shall be deemed to be an original.

 

19.       Definitions.
Unless the context clearly indicates a contrary intent or unless otherwise specifically
provided herein, words used in this Deed of Trust may be used
interchangeably in singular or plural form; and the word "Trustor"
shall mean "each Trustor and any subsequent owner or owners of the Trust Property or any part thereof or any interest therein,"
the word ''Beneficiary" shall mean ''Beneficiary and any subsequent holder of the Note;•
the words "Trust Property'' shall include any portion
of the Trust Property and any interest therein, the word "including,, means "including but not limited to" and the
words "attorneys ' fees" shall include any
and all attorneys' fees, paralegal and law clerk fees, including fees at the pre-trial, trial and appellate levels incurred or
paid by Beneficiary in protecting its interest in
the Trust Property and Collateral and enforcing its rights hereunder.

 

20.       Homestead.
Trustor hereby waives and renounces all homestead and exemption rights provided by the
Constitution and the laws of the United States and of any state, in and to the Trust Property as against the collection of the
Debt, or any part thereof.

 

21.       Assignments.
Beneficiary shall have the right to assign or transfer its rights under this Deed of Trust without limitation. Any assignee
or transferee shall be entitled to all the benefits afforded Beneficiary under this Deed of Trust.

 

22.       Waiver
of Jury Trial. TRUSTOR HEREBY AGREES NOT TO ELECT
A TRIAL BY JURY OF ANY ISSUE TRIABLE OF RIGHT BY JURY
AND WAIVES ANY RIGHT TO TRIAL BY JURY FULLY TO
THE EXTENT THAT ANY SUCH RIGHT SHALL NOW
OR HEREAFTER EXIST WITH REGARD TO THIS DEED OF TRUST OR ANY OTHER LOAN DOCUMENT, OR ANY CLAIM, COUNTERCLAIM
OR OTHER ACTION ARISING IN CONNECTION THEREWITH. THIS WAIVER OF RIGHT TO TRIAL BY JURY IS GIVEN KNOWINGLY AND VOLUNTARILY BY TRUSTOR
AND IS INTENDED TO ENCOMPASS INDIVIDUALLY EACH INSTANCE AND EACH ISSUE AS TO WHICH THE RIGHT TO A TRIAL BY JURY WOULD OTHERWISE
ACCRUE. BENEFICIARY IS HEREBY AUTHORIZED TO FILE A COPY OF TIDS PARAGRAPH IN ANY PROCEEDING
AS CONCLUSIVE EVIDENCE OF THIS WAIVER BY TRUSTOR.

 

     

     

    

 

23.       Consents.
Any consent or approval by Beneficiary in any single
instance shall not be deemed or construed to be
Beneficiary's consent or approval in any like
matter arising at a subsequent date,
and the failure of Beneficiary to promptly exercise any
right, power, remedy, consent or approval provided herein
or at law or in equity shall not constitute or be
construed as a waiver of the same nor shall Beneficiary
be estopped from exercising such right, power, remedy, consent
or approval at a later date. Any consent or approval
requested of and granted by Beneficiary pursuant hereto
shall be narrowly construed to be
applicable only to Trustor and the matter identified
in such consent or approval and no third party
shall claim any benefit by reason thereof, and
any such consent or approval shall not be deemed to constitute
Beneficiary a venturer or partner with Trustor nor shall privity
of contract be presumed to have been established with any
such third party. If Beneficiary deems it to be in
its best interest to retain assistance of persons, firms
or corporations (including attorneys title insurance companies,
appraisers, engineers and surveyors) with respect to
a request for consent or approval, Trustor shall reimburse Beneficiary for all costs reasonably incurred in connection with
the employment of such persons, firms or corporations.

 

24.       Loan
Repayment and Defeasance. Provided no Event of Default exists, the Lien of this Deed of Trust shall be terminated, released
and re-conveyed of record by Beneficiary (and the Trustee, to the extent required by law to affect a full and proper termination,
release and reconveyance) prior to the Maturity Date only in accordance with the terms and provisions set forth in the Loan Agreement.

 

25.       No
Election of Remedies.

 

(a)
Upon the occurrence of an Event of Default, Beneficiary may proceed under this Deed of Trust
against the Trust Property in one or more parcels and
in such manner and order as Beneficiary shall elect.
Trustor hereby irrevocably waives and releases, to the
extent permitted by law, and whether now or
hereafter in force, any right to have the Trust Property marshaled upon any foreclosure of
this Deed of Trust.

 

(b)
Without limiting the generality of the foregoing, and without limitation as to any
other right or remedy provided to Beneficiary in this Deed of Trust or the other Loan Documents,
in the case of an Event of Default (i) Beneficiary shall have the right to
pursue all of its rights
and remedies under this Deed of Trust and the Loan Documents, at law and/or in equity, in one proceeding, or separately and independently
in separate proceedings from time to time as Beneficiary, in its sole and absolute discretion,
shall determine from time to time, (ii) Beneficiary shall not be required to either marshal! assets, sell the Trust Property in
any particular order of
alienation (and may sell the same simultaneously and together or separately), or be subject to any ''one action" or "election
of remedies'' law
or rule with respect to the Trust Property, (iii) the exercise by Beneficiary of any remedies against any
one item of Trust Property will not impede Beneficiary from subsequently or simultaneously exercising
remedies against any other item of Trust Property, (iv) all liens and other rights, remedies or privileges provided to Beneficiary
herein shall remain in full force and effect until Beneficiary bas exhausted all of its remedies against the Trust Property and
all Trust Property has been foreclosed, sold and/or otherwise realized upon in satisfaction
of the Debt, and (v) Beneficiary may resort for the payment of the Debt to any security held by
Beneficiary in such order and manner as Beneficiary, in its discretion, may elect and Beneficiary
may take action to recover the Debt, or any portion thereof, or to enforce any covenant hereof without prejudice to the right of
Beneficiary thereafter to foreclose this Deed of Trust

 

    	 		

     

    

 

(c)
Without notice to or consent of Trustor and without impairment of the lien and rights created by
this Deed of Trust, Beneficiary may, at any time {in its sole and absolute discretion, but Beneficiary shall have no obligation
to), execute and deliver to Trustor a written instrument releasing all or a portion of the lien of this Deed of Trust as security
for any or all of the obligations of Trustor now existing or hereafter arising under or in respect of the Note, the Loan Agreement
and each of the other Loan Documents, whereupon following the execution and delivery by Beneficiary to Trustor of any such written
instrument of release, this Deed of Trust shall no longer secure such obligations of Trustor so released.

 

26.       Governing
Law. WITH RESPECT TO MATTERS RELATING TO THE CREATION, PERFECTION AND PROCEDURES RELATING
TO THE ENFORCEMENT OF THIS DEED OF TRUST, THIS DEED OF TRUST SHALL BE GOVERNED BY, AND BE CONSTRUED IN ACCORDANCE WITH, THE LAWS
OF THE STATE IN WHICH THE TRUST PROPERTY IS LOCATED, IT BEING UNDERSTOOD THAT, EXCEPT AS EXPRESSLY SET FORTH ABOVE IN
THIS PARAGRAPH AND TO THE FULLEST EXTENT PERMITTED BY THE LAW OF SUCH STATE, THE LAW OF THE STATE OF NEW YORK WITHOUT REGARD TO
CONFLICTS OF LAWS PRINCIPLES SHALL GOVERN ALL MATTERS RELATING TO THIS DEED OF TRUST
AND THE OTHER LOAN DOCUMENTS AND ALL OF THE INDEBTEDNESS OR OBLIGATIONS ARISING HEREUNDER
OR THEREUNDER. ALL PROVISIONS OF THE LOAN AGREEMENT INCORPORATED HEREIN BY REFERENCE SHALL
BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT
REGARD TO CONFLICTS OF LAWS PRINCIPLES, AS SET FORTH IN THE GOVERNING LAW PROVISION OF THE LOAN AGREEMENT.

 

27.       Exculpation. The liability of Trustor hereunder is limited pursuant to Section 10.1
of the Loan Agreement.

 

    	 		

     

    

 

28.       Trustee;
Successor Trustee. Trustee shall not be liable for any error of judgment or act done
by Trustee, or be otherwise responsible or accountable under any
circumstances whatsoever, except if the result of Trustee's gross negligence or willful misconduct. Trustee shall not be
personally liable in case of entry by him or anyone
acting by virtue of the powers herein granted him upon the Trust Property for debts contracted or liability or damages or damages
incurred in the management or operation of the Trust Property. Trustee shall have the right to rely on any instrument, document
or signature authorizing or supporting any action taken or proposed to be taken by him hereunder or believed by
him to be genuine. Trustee shall be entitled to reimbursement for actual expenses
incurred by him in the performance of his duties hereunder
and to reasonable compensation for such of his services hereunder as shall be rendered. Trustor will, from time to time, reimburse
Trustee for and save and hold him harmless from and against any and all loss, cost, liability, damage and reasonable expense
whatsoever incurred by him in the performance of his duties. All monies received by Trustee shall, until used or applied as herein
provided, be held in trust for the purposes for which they were received but need not be
segregated in any manner from any other monies (except to the extent required by law) and Trustee shall be under no liability
for interest on any monies received by him hereunder. Trustee may
resign by giving of notice of such resignation inwriting
to Beneficiary. If Trustee shall die, resign or become disqualified from acting in the execution of this trust or shall fail or
refuse to exercise the same when requested by Beneficiary or if for any or no reason and without cause Beneficiary shall prefer
to appoint a substitute trustee to act instead of the original Trustee named herein, or any prior successor or substitute trustee,
Beneficiary shall, without any formality or notice to Trustor or any other person, have full power
to appoint a substitute trustee and, if Beneficiary so elects, several substitute trustees in
succession who shall succeed to all the estate, rights, powers and duties of the aforenamed Trustee. Each appointment and
substitution shall be evidenced by an instrument in writing which shall recite the parties to, and the book and page of record
of, this Deed of Trust, and the description of the real property herein described, which instrument, executed and acknowledged
by Beneficiary, shall (i) be conclusive proof of the proper substitution and appointment
of such successor Trustee or Trustees, (ii) duly assign and transfer all the estates, properties,
rights, powers and trusts of Trustee so ceasing to act and (iii) be notice of such proper
substitution and appointment to all parties in interest. In addition, such Trustee ceasing
to act shall duly assign, transfer, and deliver any of the property and monies held by Trustee
to the successor Trustee so appointed in its or his place. The Trustee may act in the execution
of this trust and may authorize one or more parties to act on his behalf to perform the ministerial functions required of him
hereunder, including without limitation, the transmittal and posting of any notices and it
shell not be necessary for any Trustee to be present in person at any foreclosure sale.

 

PART II. STATE-SPECIFIC
PROVISIONS

 

30.       Conflicts
With Part I. In the event of any conflict between the provisions of this Part II and any provision of Part I, then the provisions
of this Part Il shall control.

 

31.       Future
Advances. This Deed of Trust is given to secure not only existing Debt, but also future advances made within fifteen (15) years
of the date of this Deed of Trust to the same extent as if such future advances are made on the date of the execution of this Deed
of Trust. The principal amount (including future advances) that may be so secured may decrease or increase from time to time, but
the total amount so secured at any one time shall not exceed the maximum principal amount of $28,550,000.00 plus all interest,
costs, reimbursements, fees and expenses due under this Deed of Trust and secured hereby. Trustor shall not execute any document
that impairs or otherwise impacts the priority of any future advances secured by this Deed
of Trust. The amount of present obligations secured hereby is $14,275,000.00.

 

    	 		

     

    

 

32.       Power
of Sale. Upon the occurrence of an Event of Default, Beneficiary may notify Trustee to exercise the power of sale hereunder
and upon such notification it shall be lawful
for and the duty of Trustee, and Trustee is hereby authorized and empowered to expose to sale and to sell the Trust Property or
any part thereof at public sale to the highest bidder for cash, in compliance with
applicable requirements of North Carolina law governing the exercise of powers of sale contained in deeds of trust and upon such
sale, Trustee shall collect the purchase proceeds and convey title to the portion of the Trust
Property so sold to the purchaser in fee simple. In
the event of a sale of the Trust Property or any part thereof, the proceeds of sale
shall be applied
in the following order of priority: (i)
to the payment of all costs and expenses for and in
connection with such sale, including a commission for Trustee's services
as hereinafter provided and reasonable attorney's fees incurred by Trustee for legal services
actually performed; (ii) to the reimbursement of Beneficiary
for all reasonable and actual sums expended or
incurred by Beneficiary under the terms of
this Deed of Trust or to establish, preserve or
enforce this Deed of Trust or to collect the Note (including,
without limitation, reasonable attorneys' fees); (iii) to the payment of the Note and interest
thereon and all other indebtedness hereby secured;
and (iv) the balance, if any, shall be paid to the parties lawfully entitled thereto. In
the event of a sale hereunder, Beneficiary shall have the right to bid at such sale and shall
have the right to credit all or any portion of the indebtedness
secured hereby against the purchase price. Trustee shall have the right to designate the place of sale in compliance with
applicable law and the sale shall be held at the place designated by
the notice of sale. Trustee
may require the successful bidder at any sale to deposit immediately with Trustee cash or
certified check or cashier's check in an amount up to five percent (5%) of the
bid provided notice of such deposit
requirement is published
as required by law.
The bid may be rejected
if the deposit is not immediately made.
Such deposit shall be refunded
in case of a resale because of an upset bid or if Trustee is unable to convey the portion of the Trust
Property so sold to the bidder because the power of sale has been terminated in accordance
with applicable law. If the purchaser fails to
comply with its bid, the deposit may, at the option of
Trustee, be retained and applied to the expenses of the sale and any resales and to any damages and
expenses incurred by reason of such
default (including the amount that such bid exceeds the final
sales price), or may be deposited with the Clerk of Superior Court. In all other cases, the
deposit shall be applied to the purchase price. Pursuant to Section 25-9-604 of the North Carolina General Statutes (or any amendment
thereto), Trustee is expressly authorized and empowered to
expose to sale and sell, together with
the real estate, any portion of the Trust Property which constitutes personal property. If personal property is sold hereunder,
it need not be at the place of sale. The Trust Property
may be sold in such parcels or
lots without regard to principles of marshaling and may be sold at one sale or in
multiple sales, all as determined by Trustee. A previous
exercise of the power of sale hereunder by Trustee shall not be
deemed to extinguish the power of sale which power of sale shall continue
in full force and effect until all the Trust Property shall have been finally sold and properly
conveyed to the purchasers at the sale. The Trustee shall be entitled to a reasonable commission for both a completed
or uncompleted foreclosure based upon the usual and customary hourly rates of the
Trustee and the Trustee's paralegals for time actually spent on the matter which
shall be in addition to any out of pocket costs and expenses
of the Trustee referred to above.

 

    	 		

     

    

 

33.       Maximum
Interest. The
provisions of this Deed of Trust and of all agreements between Trustor and Beneficiary,
whether now existing or hereafter
arising and whether written or oral,
are hereby expressly limited so that in no contingency
or event whatsoever, whether by reason of demand or
acceleration of the maturity of the Note or otherwise, shall the amount paid, or agreed to be paid
to Beneficiary for the use, forbearance or retention of the money loaned under the Note ("Interest")
exceed the maximum amount permissible under applicable law. If, from any circumstance
whatsoever, performance or fulfillment of any
provision hereof or of
any agreement between Trustor and Beneficiary shall, at the time
performance or fulfillment of such provision
shall be due, exceed the limit for Interest prescribed
by law or otherwise transcend the limit of validity prescribed by applicable law, then, ipso facto, the obligation to be performed
or fulfilled shall be reduced to such limit, and if, from any circumstance whatsoever, Beneficiary shall ever receive anything
of value deemed Interest by applicable law in excess of the maximum lawful amount, an amount
equal to any excessive Interest shall be applied to the reduction of the principal balance owing under the Note in
the inverse order of its maturity (whether or not then due) or, at the option of Beneficiary, be paid
over to Trustor, and not to the payment of Interest. All Interest (including any amounts
or payments deemed to be Interest) paid or agreed to be paid to Beneficiary shall, to the
extent permitted by applicable law, be amortized, prorated, allocated and spread throughout the full period until payment in full
of the principal balance of the Note so that the Interest thereon for such full period will
not exceed the maximum amount permitted by applicable law. This Section will control all
agreements between Trustor and Beneficiary. To the
extent North Carolina Jaw is determined to govern the Note notwithstanding the choice of Jaw provision contained therein, then
notwithstanding anything to the contrary contained in the Note, (i) no late fee shall be due in connection with payments due under
the Note unless such payment is not made within fifteen (15) days of the date such payment is due, (ii) the late charge for such
overdue payments shall be in an amount equal to four percent (4%) of the amount of such overdue payment, and (iii) late fee may
not be charged more than once with respect to a single late payment. 

 

34.       After-Acquired
Property. AU property acquired by Trustor after the date of this Deed of Trust which by the terms of this Deed of Trust shall
be subject to the lien and the security interest created hereby, shall immediately upon the acquisition thereof by Trustor and
without further mortgage, conveyance or assignment become subject to the lien and security interest created by this Deed of Trust.
Nevertheless, Trustor shall execute, acknowledge, deliver and record or file, as appropriate, all and every such further mortgages,
security agreements, financing statements, assignments and assurances as
Beneficiary shall reasonably require for accomplishing the purposes of this Deed of Trust.

 

35.       Indemnity;
Expenses. Subject to Section 10.1 of the Loan Agreement, Trustor will pay or reimburse
Trustee and Beneficiary for all reasonable attorneys' fees, costs and expenses incurred by
either of them in any suit, action, legal proceeding or dispute of any kind in
which either of them is made a party or appears as party plaintiff or defendant, affecting the Debt, this Deed of Trust or the
interest created herein, or the Trust Property, or any appeal thereof, including, but not limited to, activities related to enforcement
of the remedies of Beneficiary, activities related to protection of Beneficiary's collateral, any foreclosure action or exercise
of the power of sale, any condemnation action involving the Trust Property or any action to protect the security hereof, any bankruptcy
or other insolvency proceeding commenced by or against the Trustor, and any such amounts paid or incurred
by Trustee or Beneficiary shall be added to the Debt and shall be secured by this Deed of
Trust; provided, however, that in no event shall Trustor be required to indemnify or hold harmless Beneficiary for any liabilities,
losses or damages resulting from Lender's bad faith, gross negligence or willful misconduct. The agreements of this subsection
shall expressly survive in perpetuity satisfaction of this Deed
of Trust and repayment of the Debt, any release, reconveyance, discharge of foreclosure of this Deed of Trust, conveyance by deed
in lieu of foreclosure, sale, and any subsequent transfer by Trustee's conveyance of the Trust Property.

 

    	 		

     

    

 

36.       Release
of and Resort to Collateral. Beneficiary may release, regardless of consideration and
without the necessity for any notice to a consent by the holder of any
subordinate Hen on the Trust Property, any
part of the Trust Property without, as
to the remainder, in
any way impairing, affecting, subordinating or releasing the lien or security interests
created in or evidenced by
the Loan Documents or their stature as a first and prior lien and security interest in
and to the Trust Property. For payment of the Debt, Beneficiary may resort to any other security
in such order and manner as Beneficiary may elect.

 

37.       Waiver
of Redemption, Notice and Marshalling of Assets. To the fullest extent permitted by
Jaw, Trustor hereby irrevocably and unconditionally waives and releases (i) all benefit
that might accrue to Trustor by virtue of any present
or future statute of limitations or law orjudicia1 decision exempting the Trust Property from attachment, levy or sale on
execution or providing for any appraisement, valuation, stay of execution, exemption
from civil process, redemption or extension of time for payment, (ii)
all notices of any Event of Default or of Trustee's
e1ection to exercise or his actual exercise of any right, remedy
or recourse provided for under the Loan Documents, except as specifica1ly required by
the terms of this Deed of Trust or the other Loan Documents, and (iii) any right to a
marshalling of assets or a sale in inverse order of alienation.

 

38.       Discontinuance
of Proceedings. If Beneficiary shall have proceeded to invoke any right,
remedy or recourse permitted under the Loan Documents and shall thereafter elect to discontinue or
abandon it for any reason, Beneficiary shall have the unqualified right to do so and, in such an event, Trustor and Beneficiary
shall be restored to their former positions with
respect to the Debt, the obligations of Trustor under the Loan Documents, the Loan Documents, the
Trust Property and otherwise, and the rights, remedies, recourses and powers of Beneficiary shall continue as if the right, remedy
or recourse had never been invoked, but no such discontinuance or abandonment sha11 waive any Event of Default which may then exist
or the right of Beneficiary thereafter to exercise any right, remedy or recourse under the Loan Documents for such Event of Default.

 

39.       No
Mortgagee in Possession. Neither the enforcement of any of the remedies under this Deed of Trust nor any other remedies afforded
to Beneficiary under the Loan Documents, at law or in equity, shall cause Beneficiary or Trustee to be deemed or construed
to be a mortgagee in possession of the Trust Property, to obligate Beneficiary or Trustee to lease the Trust Property or attempt
to do so, or to take any action, incur any expense, or perform or discharge any obligation, duty or liability whatsoever under
any of the Leases or otherwise.

 

[NO FURTHER TEXT ON THIS
PAGE]

 

    	 		

     

    

 

IN WITNESS WHEREOF, Trustor
has executed this instrument as of the day and year first above written.

 

	 	TRUSTOR:
	 	 
	 	MEDALIST FUND 1-A, LLC, a Delaware
	 	limited liability company
	 	 
	 	By: Medalist Fund Manager, Inc.
	 	A Virginia corporation
	 	Its: Manager
	 	 
	 	By: 	/s/William R. Elliot	(Seal)
	 	Name: William R Elliot
	 	Title: Co-President

 

COMMONWEALTH OF VIRGINIA

COUNTY OF GOOCHLAND

 

I certify that the following person personally
appeared before me this day, acknowledging to me that she voluntarily signed the foregoing document for the purpose stated therein
and, in the capacity, indicated: William R. Elliot.

 

	Date: February 5, 2016.	 
	 	 
	 	/s/
    P. Evans	 
	 	Official Signature of Notary
	 	P. Evans
	 	Notary’s printed or typed name, Notary Public
	 	My commission expires: 1-31-2018
	 	#7056908	 

 

    	 		

     

    

 

Exhibit A

Legal Description

 

The Land referred to herein
below Is situated In the County of GASTON, State of NORTH CAROLINA, and Is described as follows:

 

That certain tract or parcel
of land located and being In the Cities of Gastonia & Lowell, Gaston County, North Carolina and being more particularly described
as follows:

 

Being all of that certain
10.2929 Acre tract as shown on plat entitled "Recombination Plat Prepared Virginia Avenue, LLC" dated November 16, 2006
and recorded November 20, 2006 in Plat Book 73 at Page 11 In the Gaston County Public Registry and being more particularly described
by metes and bounds as follows:

 

BEGINNING at a
new Iran rod marking the northeasterly Intersection formed by the northerly margin of East Franklin Boulevard (U.S. Highway
29 & 74) (a 100' public right-of-way) and the easterly margin of Church Street (a 60' public right-of-way]; thence with
the easterly margin of Church Street the following five (S) courses and distances: 1) N 2&•14•50" W, 20.87
feet to an existing concrete monument; 2) N 2s•12'42" E 420.53 feet to a new Iron rod; 3) with a curve to the right
having a radius of 387.04 feet, an arc length of 199.31feet, (a chord bearing of N 43•26'01" E and a chord
distance of 197.12 feet) to an existing iron rod; 4) with a curve to the right having a radius of 380.68 feet, an arc length
of 35,41 feet, (a chord bearing of N 61.03'12" E and a chord distance of 35.40 feet) to an existing Iron rod; S) N
68.31'43" E 97.40 feet to an existing Iron rod on the southerly line of the J & K Properties of the Carolinas, LLC
property as described in Deed Book 4181, page 1118, recorded In the Gaston County Public Registry; thence with the southerly
line of the J & K Properties of the Carolinas LLC property as described in aforesaid deed and continuing with the
property of aforesaid owner as described In Deed Book 4151, page 2244 S 78”05’35” E 297.0S feet to an
existing Iron rod being the southwesterly corner of the J & K Properties of the Carolinas UC property as described In
Deed Book 4151, page 2325; thence with the southerly line of the J & K Properties of the Carolinas LLC property S
79•04•23" E 49.06 feet to an existing iron rod being the northwesterly comer of the Sawmay, LLC property as
described In Deed Book 4387, page 149; thence with the westerly fine of the Sawmay, LLC property S 14•03•39" W
208.81feet to an existing Iron rod lying on the northerly margin of Taylor Avenue (a 30' public right-of-way); thence
continuing with the westerly terminus of the right-of-way of Taylor Avenue S 14•03•39" W 30.17 feet to an
existing Iron rod; thence turning and running with the southerly margin of Taylor Avenue the following two (2) courses and
distances: 1) S s1•53•30" E 174,06 feet to an existing Iron rod; 2) with a curve to the right having a radius
of 20.00 feet, an arc length of 31.51 feet, (a chord bearing of S 36.45'24" E and a chord distance of 28.35 feet) to an
existing iron rod lying on the westerly margin of Neely Street (a 40' public right-of-way); thence with the westerly
margin of Neely Street the following two (Z) courses and distances: 1) S os•2z•41" W 372.86 feet to a new
nail; 2) with a curve to the right having a radius of 20.00 feet, an arc length of 31.88 feet, (a chord bearing of S
54°02'43" W and a chord distance of 28.61 feet) to a new Iran rod on the northerly margin of the right-of-way of the
aforementioned East Franklin Boulevard; thence with the northerly margin of East Franklin Boulevard N so•11'24" W
831.52 feet to THE POINT OF BEGI NNING; containing 448,184 square feet or 10.2889 acres as shown on a survey by R.B. Pharr
 & Associates, P.A., dated December 14, 2010, last revised January 21, 2011.

 

Being the same real estate
conveyed unto Medalist Fund 1-A, LLC, by Deed from Virginia Avenue, LLC, dated September 20, 2013, recorded September 20, 2013
In Book 4697, page 717, In the Register of Deeds, Gaston County, North Carolina.

 

Being the same property
shown on that certain survey of The Shops at Franklin Square, prepared by Republic National, bearing the seal and certification
of Kimberly Solltro, PLS No. l-5204, dated February 9, 2016, under Job No. 160145.

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