Document:

Exhibit 10.4

 

JW Properties, LLC

BUSINESS LEASE

 

THIS LEASE, made and entered
into on this date of July 22nd,  2015, between JW
Properties, LLC herein after referred to as "Lessor," and urban-gro,
LLC herein after referred to as "Lessee".

 

1       Definition of
Terms:

 

Whenever the words "Lessor" and "Lessee"
are used in this lease, they shall include Lessor and Lessee and shall apply to persons: men, women, companies, partnerships and
corporations.

 

2.           
Leased Premises:

 

In consideration of the payment of the rent hereinafter provided,
and the keeping and performance of each of the covenants and agreements of the Lease hereinafter set forth, the Lessor has and
does hereby lease to the Lessee the following described Premises, situate in the County of Boulder, State of Colorado, to wit:

 

September 1st 2015 - August 31st 2018:
7200 square feet located at 1751 Panorama Point Unit F and G - Lafayette, Colorado.

 

Lessor agrees to remodel and prepare the Premises for occupancy
by the Lessee as per Lessee's direction, and all cost of such tenant finish shall be amortized over the remaining term of the
lease (36 month) and shall be treated as "additional rent."

 

3.           
Term of Lease and Minimum Rent:

 

The Term of this lease shall be for 36 months, from September
1st 2015 through August 31st 2018. Rent shall be payable in advance on the 1st day of each month
as follows:

 

Rent shall be payable to JW Properties, LLC at the office address
of 1751 Panorama Point Unit A Lafayette, CO 80026, or at such place as the Lessor may designate, from time to time, in writing.
The installments of minimum rent are payable without demand, and regardless of any other dispute between Lessor and Lessee. Lessee
hereby waives any rights, except as set forth in this Lease to setoff against the installments of minimum rent any claims it may
have against Lessor. Concurrently with the execution of this lease, the Lessee has paid to the Lessor, the receipt of which is
hereby acknowledged by Lessor, the sum of:

 

	·	September 1st 2015 - August 31st 2016:
    $7000.00

	·	September 1st 2016 - August 31st 2017: $7200.00

	·	September 1st 2017 - August 31st 2018 - $7500.00

 

If Lessee obtains possession of the Premises prior to the commencement
date of this Lease, all other terms and conditions of this Lease shall apply immediately upon such possession, except for Lessee's
obligations for base rent, which shall start on the commencement date.

 

Optional Lease Extension:

 

Lessor grants the Lessee the right to extend for a period of
two additional years at $7750 per year. Notification must be provided to Lessor by June 30th ,2018.

 

 

 

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4.       Security Deposit:

 

		(a)	Lessee has further agreed to deposit with the Lessor, at the time of execution, the sum of $3000, as a security deposit
for the full performance of this lease by Lessee, to be returned to Lessee by the Lessor within Thirty (3o) days after the termination
of the Lease, provided Lessee is not in default. Receipt of said security deposit is hereby acknowledged by the Lessor. Lessee
shall not be entitled to interest on the security deposit, and Lessor may commingle the security deposit with other funds.

 

		(b)	In the event Lessee shall default in the performance of any of the terms or provisions or covenants of this business lease,
which default shall continue for ten (To) business days after written notice thereof, Lessor, at its option, may apply said security
deposit to the extent required to cure such default, but Lessor shall not be required to do so, and at its election, may enforce
any remedies available to Lessor under this Lease and applicable law. Lessee agrees in the event said security deposit or any portion
thereof is applied by Lessor to cure any default of Lessee under this lease, the Lessee will promptly pay to Lessor an amount sufficient
to restore the original security deposit in full, and its failure to do so shall be deemed a default under the terms of this lease.

 

		(c)	Lessor shall deliver the security deposit to the purchaser of Lessor's interest in the Premises, in the event that all such
interest be sold; and thereupon such purchaser shall assume Lessor's responsibility with respect to said deposit, and Lessor shall
deliver a written statement of any amounts spent for any purpose from the security deposit and amounts replenished to such security
deposit by Lessee, and Lessor shall be released of all further liability for return or accounting of the security deposit.

 

5.       Lessee's General
Agreement:

 

For and in consideration of the leasing of the Premises,
the Lessee does covenant and agree as follows, to wit: That during the term of the Lease to pay for any of the following
expenses incurred after the commencement date of the lease. To pay the rent for the Premises hereinabove provided promptly
when due and payable; to pay all assessments for water rents and sewer charges levied against the Premises and all charges
for all utilities to the Premises, including heating, cooling and electricity; to pay all charges for telephone; to keep all
improvements upon the Premises, including all sewer connections, plumbing, heating and cooling appliances, wiring and glass
in good order and repair and to replace same as the need arises at the expense of said Lessee; except as set forth in the
next paragraph to order no repairs at the expense of the Lessor, and, at the expiration of this lease, to surrender and
deliver up the Premises in as good order and condition as when the same were entered upon, ordinary wear excepted, to use the
Premises for no purposes prohibited by the law ordinances of the County of Boulder, or by the law of the United States or the
State of Colorado now in force or hereinafter enacted; including compliance with the A.D.A. (Americans with Disabilities
Act); and for no improper or questionable purpose whatsoever; to keep the sidewalks in front of and surrounding the Premises
free from all litter, dirt, debris, snow, ice, water and obstructions; to keep the Premises clean and in the condition
required by the laws, ordinances and regulations of the County of Boulder, and all other political subdivisions having
jurisdiction over same; to keep the interior of the Premises such as the windows, floors, walls, doors, showcases and
fixtures clean and neat in appearance; to remove all trash and debris which may be found in or around the Premises; to
neither permit nor suffer any disorderly conduct, noise or nuisance about the Premises having a tendency to annoy or disturb
any persons occupying adjacent Premises, and to commit no waste on the leased Premises; to neither permit nor suffer the
Premises, or the walls or floors thereof, to be endangered by overloading; to permit the Lessor to place a For Rent card
upon the Premises at any time sixty (6o) days before the end of this lease; to surrender and deliver up the possession of the
Premises promptly at the expiration of this lease, or, in case of termination of Lessee's possession under this lease on
account of a material breach of this lease which is not cured pursuant to Paragraph 18.

 

Notwithstanding anything in the foregoing paragraph, Lessor
shall furnish to the Premises at all times (i) sewer, gas, water and electric service lines in sufficient capacity as is reasonably
required for Lessee's Use and (H) sufficient heat, hot and cold water and air conditioning as required for Lessee's Use, except
during the making of necessary repairs, for which Lessor will give Lessee prior notice and the repairs shall be completed as promptly
as possible without material disruption to Lessee's business. The heat, hot water and air conditioning shall also conform to temperature
requirements as established periodically by Lessee or by local, municipal or public governmental authorities. Prior to the Commencement
Date, Lessor will separately meter all utilities and Lessee shall pay when due all charges for water, gas, electricity and other
utilities it uses at the Premises. Lessor represents and warrants to Lessee that all utilities and any HVAC system servicing the
Premises are in good working order, condition and repair as of the Commencement Date, Lessor shall at its sole cost and expense
make all repairs to and perform necessary maintenance upon such systems within thirty (3o) after any Lessee's request.

 

 

 

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6.          
Failure of Lessee to Maintain Premises:

 

If Lessee refuses or neglects to repair or maintain the Premises
as required hereunder, to the reasonable satisfaction of Lessor as soon as reasonably possible after written demand, Lessor may
make such repairs without liability, except in the case of gross negligence, to the Lessee for any loss or damage that may accrue
to Lessee's merchandise, fixtures or other property, or to Lessee's business by reason thereof, and upon completion thereof, Lessee
shall pay Lessor's cost for making such repairs upon presentation of a bill thereof. Lessee shall not be required to make any structural
repairs or alterations to the Premises.

 

7.          
Indemnity Agreements:

 

The Lessor shall not be liable for any damage to property of
the Lessee or of other located on the Premises, nor for the loss of or damage to any property of Lessee or of others by theft or
otherwise.

 

8.          
Repairs/Service to the Premises:

 

Lessor
shall maintain in good order, condition, replacement and repair, at its own cost and expense, the all structural portions of the
Leased Premises, including, without limitation, all utility facilities, pipes, conduits and plumbing systems up to and including
connections to the Premises, the sprinkler mains, structural systems, including, without limitation, the roof, roof membrane,
roof covering (including interior ceiling of the Premises, if damaged by leakage), exterior walls (excluding glass) and demising
walls, floor slab and foundation. If Lessor fails to perform, or cause to be performed, necessary maintenance and/or to restore
the Leased Premises to a state of good condition and repair within 10 days after Lessor has received written notice from Lessee
of a state of disrepair (or if such repairs cannot reasonably be completed within such 10 day period and Lessor shall fail to
begin the repairs within 10 days after Lessee's notice and proceed diligently with the repairs to completion), then Lessee has
the right but not the obligation to perform the maintenance and/or repairs and any costs expended by Lessee shall be deducted
from the Rent and other amounts due under this Lease. In case of an emergency (including, without limitation, a leaky roof), Lessee
shall have the right to immediately undertake any and all necessary repairs, and offset the cost of the repairs against the next
occurring payment(s) of Rent or other amounts due under this Lease. Lessee agrees that all other repairs to and maintenance of
the Premises, including but not limited to interior walls, doors, and glass, shall be the obligation and responsibility of the
Lessee.

 

Lessor agrees to clear parking lot area(s) of snow after/during
a winter storm. Parking lot will be plowed when snow accumulation has reached 6 inches and the temperature is forecasted to remain
below freezing conditions for more than 24 hours. Snow removal necessity will be determined by the JW Properties personnel during
the normal working hours of 8:00 AM to 5:00 PM, Monday through Friday.

 

9.       
Right of Entry, Changes and Additions to Buildings:

 

Lessor hereby expressly reserves the right, upon not less than
forty-eight hours prior written notice, during normal business hours, to enter onto the Premises for the purpose of inspection,
repairs, alterations, improvements and additions to the Premises or the building of which it is a part; Lessor also expressly
reserves the right to add extensions or alterations to the existing building. Lessee shall not, however, contract for or make
any alterations, additions, extensions or construction of any kind to the Premises, unless expressly approved by the Lessor in
writing. Lessee shall pay for all reasonable costs and fees incurred by Lessor in the review of any such proposed alterations,
additions or construction. Does this include Lessee finish and is it customary to pay lessor's review costs?

 

10.      Character
of Occupancy:

 

The Premises shall be used and occupied only as permitted by
City, State, or County codes. Lessor makes no representations or warranties that the Premises herein referred to shall be usable
for the purpose intended by the Lessee.

 

11.      Insurance
and Risk of Loss:

 

The Lessee further agrees to provide public liability insurance
for bodily injury and property damage liability with single limit of not less than $1,000,000.00 per occurrence and aggregate limit,
written with a company having Best's key rating of A-X (m), or better and shall name Lessor and its designees under said insurance
policy as additional insured. Lessee shall furnish to Lessor a certificate of insurance indicating that said policy is in full
force and effect, that Lessor has been named as an additional insured and that said policy will not be canceled unless ten (io)
days prior written notice of the proposed cancellation has been given to Lessor.

 

 

 

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Lessee
shall assume all risk of loss for all inventory, equipment, furnishings, vehicles and personal property of every description resulting
from fire, flood, natural calamity, sprinkler discharge, theft, or other occurrence, and shall indemnify Lessor and hold Lessor
harmless for any such loss. Lessor shall not be responsible to Lessee for any loss to inventory, equipment, furnishings, vehicles,
equipment, furnishings, vehicles or personal property and Lessee agrees to maintain insurance adequate to cover such loss.

 

12.      
Signs:

 

No signs or advertisement shall be placed or printed upon the
outer walls, doors, windows, roof or land area of the Premises, which are to be viewed from outside of the Premises, except those
signs and locations as the Lessor shall approve in writing prior to installation. Will there be a name on the door?

 

13.      
Replacement of Building:

 

In the event the demised Premises or a portion thereof shall
become untenantable on account of the damage by fire, act of God, or other casualty, Lessor shall be given the option to correct
the deficiency or condition which shall render the Premises untenantable. Within thirty (3o) days after receipt of written notice
from Lessee as to the damage to the property, Lessor shall notify Lessee in writing as to whether or not it elects to repair the
same. If for any reason, in the opinion of the Lessor, it is not feasible to repair or rebuild the same, then, and in that event,
the Lessor shall have the right to terminate this lease. In the event Lessor elects to repair the Premises, it shall have one hundred
(loo) days from the date of its notice to Lessee to effect such repairs. During the period from Lessor's receipt of notice from
Lessee of damage to the demised Premises until the Premises are restored to their prior condition and possession thereof given
to Lessee, the rent shall abate upon the portion of the Premises that is untenantable. Lessor shall not in any case be liable for
any loss of profits or income occasioned to Lessee during such period. In the event said repair has not been completed within the
period specified, then Lessee may have the option to cancel the lease. If either the Lessee or the Lessor terminates this lease
as above provided in this paragraph, any monies due and owing to the Lessor at that date shall be paid by the Lessee to the date
that Lessee vacates the Premises, and all further obligations on the part of both parties hereto shall cease and Lessor shall incur
no obligation whatsoever from the termination of said lease. Notwithstanding the foregoing, during any period that the damage or
destruction is such as to make the Premises unsuitable for Lessee's use or the conduct of its business therein, as determined by
Lessee, the Rent and other charges payable by Tenant shall abate until such time as the Premises is suitable for Lessee's use or
the conduct of its business therein.

 

14.      
Holdover Agreement:

 

If after the expiration of the term of
this lease, Lessee shall remain in possession of the demised Premises and continue to pay rent without any express written agreement
as to such holding over, then such holding over shall be deemed and taken to be a holding over upon a tenancy from month to month
at a monthly rental equivalent of 125% of the current rental hereinabove set forth, such payments to be made as hereinabove provided.
In the event of such holding over, all terms of the lease as herein set out are to remain in full force and effect on said month
to month basis.

 

15.      
Bankruptcy:

 

Neither bankruptcy, insolvency, nor
the appointment of a receiver or trustee shall affect this Lease so long as Lessee, its successor or assigns perform Lessee's
obligations.

 

16.      A.Estoppel
Certificate:

Within ten (10) days after the request by Lessor, Lessee shall
deliver to Lessor a written and acknowledged statement certifying that Lessee has accepted possession of the Premises, that this
Lease is unmodified and in full force and effect (or if there have been modifications, that the same is in full force and effect
as modified and stating the modifications), the commencement date and termination date of the Lease, that Lessor is not in default
under the Lease (or, if there is a default, stating specifically the default) and the dates to which the rent and other charges
have been paid in advance, if any, and any other reasonable terms contained in the Lease, it being intended that any such statement
delivered pursuant to this paragraph may be relied upon by any prospective purchaser or mortgages of the fee of the Premises.

 

 

 

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B.       Subordination:

 

Lessee agrees that this lease is and shall be, at all times,
subject and subordinate to the lien of any mortgages which Lessor or its assigns shall make covering the Premises and to any and
all advances to be made thereunder and to the interest thereon. Lessee agrees to execute any and all instruments in writing which
may be required by Lessor to subordinate Lessee rights to the lien of such mortgage.

 

17.    Financial Statement:

 

Lessee shall at any time and from time to time, upon not less
than ten (10) days prior written notice from Lessor, deliver to Lessor a statement in writing certifying the status of this Lease,
the dates to which rent and other charges are paid, and setting forth any uncured defaults on the part of the Lessor hereunder.
Lessee shall at any time and from time, upon not less than ten (10) days' prior written notice from Lessor deliver to Lessor complete
financial statements for Lessee (including a balance sheet accurate within the previous ninety (9o) days and an income statement
for at least the past twelve (12) months certified to be accurate by the Lessee; provided that Lessor shall have no right to ask
for such financial statements unless Lessor is, in good faith, attempting to sell or obtain financing on the Center, and the potential
purchaser or lender has requested financial information on the status of the tenants in the Center. If the obligations of Lessee
under this Lease are personally guaranteed by any other party, such other party agrees that he/she/it shall be obligated to provide
the same sort of estoppel statement and/or financial statements as required of Lessee in this paragraph.

 

18.    Default of Tenant:

 

The Lessee further covenants and agrees that, if the rent above reserved, or any part thereof,
shall be in default, and the failure continues for 10 days after Lessor gives Lessee written notice of the default or in case
of a breach of any of the covenants or agreements herein, and the breach or failure continues for a period of 30 days after
Lessor provided written Notice to Lessee of the breach; provided that if Lessee cannot cure its breach or failure within a 30
day period, Lessee's breach or failure will not be deemed a default if Lessee begins to cure its breach or failure within the
30 day period and thereafter diligently pursues the cure to completion, then Lessor may terminate Lessee's right to
possession under this Lease. If the Lessee shall refuse to surrender and deliver up the possession of the Premises, then and
in that event, the Lessor may, without further notice or demand, enter into and upon the Premises, or any part thereof, and
take possession thereof and repossess the same as of the Lessor's former estate and expel, remove and put out of possession
the Lessee, using such help, assistance and force in so doing as may be needful and proper, without being liable for
prosecution or damages therefore, and without prejudice to any remedy allowed by law available in such cases. This paragraph
shall be supplemental to paragraph 4-(b). Taking of possession by Lessor, or Lessor's service of an eviction demand shall not
constitute an election by Lessor to terminate this Lease, unless expressly so stated in writing. All remedies stated herein
are in addition to and cumulative with all other remedies provided by law and equity.

 

19.       Vacating During
Term:

 

If the Lessee shall vacate the leased Premises before the end
of the term of this lease, as a result of voluntary abandonment, eviction, court order or any other reason, or shall be in material
default under any of the terms or provisions of this Lease, the Lessor may at its option and without notice enter the Premises,
remove any signs and property of the Lessee there from, and relet the leased Premises or any part thereof as it may see fit without
such retaking voiding or terminating this lease, and for the purposes of such reletting, the Lessor is authorized to make any repairs
or changes in or to the Premises, at the expense of the Lessee (which shall be payable to the Lessor upon demand), as may be necessary
or desirable for the purpose of such reletting, and if a sum shall not be realized from such reletting to equal the monthly rental
reserved and stipulated herein to be paid by the Lessee plus all other costs and expenses associated with such default, vacation
and/or reletting (including, without limitation, reasonable attorney's fees, the cost of preparing the space for reletting and
real estate commission), the Lessee will pay such deficiency each month upon demand therefore, and if suit is filed to collect
any monies due from the Lessee under this lease, reasonable attorney's fees shall be assessed as part of the judgment. In addition,
if Lessee is in default, Lessor may, at its option, obtain judgment for the rent and other charges past due under this Lease and
to become due for the balance of the remaining lease term (in which case, if the Premises is then relet, the monies from the reletting
shall be applied to the costs and expenses associated with the default and reletting, and then applied to the judgment). Regardless
of any default or termination Lessee's possession, Lessee shall be liable for the full term of this Lease, as originally demised,
unless Lessor expressly terminates the Lease in writing or Lessee terminates this Lease as permitted in this Lease.

 

 

 

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20.       Assignment
and Subletting:

 

Lessee shall not assign or mortgage this lease in whole or in
part, nor sublet all or any part of the leased Premises without the prior written consent of the Lessor, and Lessor agrees that
such consent will not be unreasonably withheld. In the event the leased Premises are sublet by the Lessee, or this lease is assigned
or mortgaged, the Lessee will remain liable under the terms of this lease for the remaining balance of the lease term, including
all modifications and alternations thereof and shall not be released from the performance of any terms, covenants and conditions
contained herein. Lessor and any assignee have no obligation to obtain the previous Lessee's approval before making any such modifications
or alterations to this lease, and the previous Lessee's obligations shall not be reduced as a result of the failure to obtain its
approval. Lessee shall pay all reasonable costs and fees incurred by Lessor in reviewing any such proposed assignment or subletting,
regardless of whether the assignment or subletting is eventually consummated. Lessee waives all claims for damages resulting from
Lessor's failure to consent to any such assignment or subletting, and Lessee's sole remedy shall be for an action for specific
performance in the form of injunctive relief.

 

21.       
Lien of Lessor:

 

22.      Surrender
of Possession:

 

Lessee
agrees to deliver up and surrender to Lessor possession of the Premises, including all plumbing, wiring, sewer connections,
lighting fixtures, glass fixtures, walls, ceilings, floors, and appurtenances at the expiration or termination of this lease
or any extension hereof, by lapse of time or otherwise, in as good order and condition as when possession was taken by
the Lessee, excepting only ordinary wear and tear. If the Lessee shall fail to remove any effects which it is entitled to
remove from the Premises upon the termination of this lease, or any extension hereof, for any cause whatsoever, the Lessor,
at its option, may remove the same and store or dispose of the said effects, without liability for loss or damage thereto,
and Lessee agrees to pay to Lessor on demand any and all expenses incurred in such removal including court costs, reasonable
attorney's fees, storage and insurance charges on such effects for any length of time the same shall be in the Lessor's
possession; or the Lessor at its option, without notice, may sell such effects, or any of them, at private or public sale and
without legal process, for such price or consideration as the Lessor may obtain, and apply the proceeds of such sale upon any
amounts due under this lease from the Lessee to the Lessor, and upon the expense incidental to the removing, cleaning the
Premises, selling said effects, and other expense, rendering the surplus, if any, to the Lessee, provided, however, in the
event the proceeds of such sale or sales are insufficient to reimburse the Lessor, Lessee shall pay such deficiency upon
demand.

 

23.        
Legal Costs and Expenses:

 

If and only if Lessor prevails, Lessee agrees to pay Lessor
for all costs and expenses, including a reasonable attorney's fee, in any court action brought by Lessor to recover any rent due
and unpaid under the terms hereof, or for the breach of any of the terms and conditions herein contained, or to recover possession
of the Premises.

 

24.        
Notices:

 

All notices, demands, requests or other instruments required
in this lease to be given by Lessee to Lessor shall be sent by certified or registered mail to Lessor at,1751 Panorama Point, Unit
A Lafayette, Colorado 80026. All notices, demands, requests or other instruments required in this lease to be given by Lessor to
Lessee shall be sent by certified or registered mail to Lessee at 1751 Panorama Point, Unit F and G.

 

25.        
Mechanic's Liens:

 

The right of the Lessee, or any person claiming through or under
Lessee, to charge any mechanic or materialman's liens for labor or material upon or against Lessor's interest in the Premises is
hereby expressly denied. To the best of its ability Lessee shall not allow any such liens to be filed. If any lien is filed and
not discharged within fifteen (15) days of written notice to Lessor, Lessor may fight, settle or pay same, without regard for its
validity, and Lessee shall pay all costs, fees and monies expended by Lessor in fighting, settling or paying such lien. Lessee
shall not be in default if, within said fifteen (15) days, Lessee posts a bond or other security reasonably satisfactory to Lessor
to insure that Lessor will not suffer any loss or damage as a result of such lien.

 

 

 

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26.      Condemnation
of Leased Premises:

 

	 	(a)	If the entire premises, at any time during the term of this lease or any extension thereof, shall be taken by the exercise of
a power of eminent domain or under threat thereof, this lease shall then terminate as of the date of title vesting in such proceeding,
all rentals shall be paid up to that date and Lessee shall have no claim against Lessor nor the condemning authority for the value
of the unexpired term of this lease.

 

	 	(b)	In the event of a partial taking of the building or more than 25% of the land area, which
    leaves the Premises unfit for the normal and proper conduct of the business of the Lessee, then, the Lessee shall have the
    right to cancel and terminate this lease effective upon the actual partial taking, all rentals shall be paid up to that date,
    and Lessee shall have no claim against Lessor nor the condemning authority for the value of any unexpired term of this lease.
    If this lease shall not be canceled as above provided, it shall continue in effect and the rental after such partial taking
    shall be that part of the rental herein agreed to be paid which the value of the untaken part of the Premises, immediately
    after the taking, bears to the value of the entire demised Premises immediately before the taking. If the Lessee's continued
    use of the Premises requires alterations and repairs by reason of a partial taking, the Lessor may elect to terminate this
    lease within thirty (3o) days, after the actual taking or subject to Lessee's right of termination above provided, which must
    be exercised in writing within thirty (3o) days after such partial taking, may elect to continue it, in which event the Lessor
    shall make all necessary alterations and repairs at its expense which are required because of such partial taking. Until such
    alterations and repairs shall have been completed, an equitable abatement of rent shall be made to Lessee for any portion
    of the Premises unfit for occupancy and use in the conduct of Lessee's business for the period during which the same is unfit
    for such occupancy and use.

 

		(c)	In the event of any condemnation or taking as whether whole or partial, Lessee shall not be entitled to any part of the award
paid for said condemnation; Lessor is to receive the full amount of such award, Lessee hereby expressly waiving any right or claim
to any part thereof. Although all such damages awarded in the event of any condemnation are to belong to the Lessor, whether such
damages are awarded as compensation for diminution in value of the leasehold or to the Premises, Lessee shall have the right to
claim and recover from the condemning authority, but not from the Lessor, such compensation as may be separately awarded or recoverable
by Lessee in Lessee's own right on account of any and all damage to Lessee's business by reason of the condemnation and for or
on account of any cost or loss to which Lessee might be put in removing Lessee's merchandise, furniture, fixtures, leasehold improvements
and equipment.

 

27.        
Waiver:

 

The waiver by Lessor of any breach of any term, covenant or
condition herein contained shall not be deemed to be a waiver of such term, covenant or condition on any subsequent breach of the
same or any other term, covenant or condition herein contained. The subsequent acceptance of rent hereunder by Lessor shall not
be deemed to be a waiver of any preceding breach by Lessee of any term, covenant or condition of this lease, regardless of Lessor's
knowledge of such preceding breach at the time of the acceptance of such rent. No covenant, term or condition of this lease shall
be deemed to have been waived by the Lessor, unless such waiver is in writing duly executed by the Lessor.

 

28.      Taxes
and Fire and Hazard Insurance:

 

During the full term hereof, or any extension thereof,
Lessor shall pay the taxes assessed against the building. The term "taxes" shall mean all real estate taxes, levies
and assessments against the building, all personal property taxes, levies and assessments against personal property owned by
Lessor and used in the operation or maintenance of the building, and all costs and fees incurred by Lessor in challenging any
real estate or personal property taxes, levies and assessments. Lessor shall pay the cost of insurance premiums for the
building insurance carried by Lessor for the term of this lease.

 

30.        
Lessee's Obligation:

 

If Lessee fails to perform any of its obligations under this
Lease, Lessor may (but shall have no obligation to) perform the same for the account and at the expense of Lessee, but only after
fifteen days prior written notice to Lessee, or without notice if in Lessor's reasonable opinion an emergency exists. Lessee shall
immediately pay to Lessor any costs, fees and expenses incurred by Lessor in performing Lessee's obligations hereunder.

 

 

 

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31.        
Environmental Provisions:

 

Lessee shall keep and maintain the Premises in compliance with and shall not cause or permit the
premises to be in violation of any federal, state or local laws, ordinances or regulations relating to environmental
conditions on, under or about the Premises, including but not limited to, soil and groundwater conditions. Lessee shall not
use, generate, manufacture, store or dispose of on, under or about the Premises or transport to or from the Premises any
Hazardous Materials. Hazardous Materials are any flammable, explosive, radioactive, toxic or other related materials,
including but not limited to "hazardous substances" as defined in the Comprehensive Environmental Response and
Liability Act of 1980, 42 U.S.C. 9601 et. seq. Lessee hereby agrees to indemnify Lessor, its officers, directors, agents and
employees and hold Lessor, its officers, directors, agents and employees harmless from and against any and all claims,
losses, damages, liabilities, fines, penalties, charges, administrative and judicial proceedings (including but no limited to
attorney's fees and expenses), arising directly or indirectly, in whole or in part, out of any activity carried on or
undertaken on or off the Premises, during the term of the lease and whether by Lessee or any employees, agents, contractors,
or subcontractors of Lessee, or by any third persons at any time occupying or present on the Premises, in connection with the
handling, treatment, removal, storage, decontamination, cleanup, transport, or disposal of any Hazardous Materials at any
time located or present on, under or about the Premises. Lessee shall immediately advise Lessor in writing of (i) any and all
enforcement, cleanup, remedial, removal or other governmental or regulatory actions instituted, completed or threatened
pursuant to any Hazardous Materials Laws; (ii) all claims made or threatened by any third party against Lessee or the
Premises relating to damage, contribution, cost recovery compensation, loss, or injury resulting from any Hazardous
Materials; and (iii) Lessee's discover of any occurrence or condition on any real property adjoining or in the vicinity of
the Premises that could cause the Premises to be subject to any restrictions on the ownership, occupancy, transferability or
use of the Premises under any Laws.

 

32.       Availability
of Utilities:

 

Lessor does not warrant or guarantee the continued availability
of any or all utility service to the Premises. Except as provided in the following sentence, the interruption, diminution or cessation
of such utilities shall not be construed as an actual or constructive eviction of Lessee nor shall Lessee be entitled to any claim
for damages or abatement of its obligations under this Lease on account thereof, unless such interruption is caused by Lessor's
negligence. Lessor shall have the right to interrupt the utilities, upon reasonable prior notice, as may be necessary for repairs,
alterations or maintenance, and if utilities are interrupted by Lessor under this sentence for a period longer than forty-eight
hours, Lessee shall be entitled to an equitable reduction in rent and other charges based on the period, after the initial forty-eight
hours for which and the extent to which such utilities are interrupted. In such event, abatement and/or equitable reduction shall
be Lessee's sole remedy.

 

33.       Lessor's
Liability:

 

34.      
Late Charges:

 

(Lessee hereby acknowledges that late payment by Lessee to Lessor
of rent or other sums hereunder will cause Lessor to incur costs not contemplated by this lease, the exact amount of which will
be extremely difficult to ascertain. Accordingly, if any installment of rent or other sums due from Lessee shall not be received
by Lessor or Lessor's designee within five (5) days after the date due, then Lessor may charge Lessee a late charge equal to two
percent (2%) of such past due amount or the sum of Twenty-five and no/100ths ($25.00) Dollars, whichever is greater. The parties
hereby agree that such late charge represents a fair and reasonable estimate of the costs that Lessor will incur by reason of a
late payment by Lessee. Acceptance of late charges and past due rent by the Lessor shall in no event constitute a waiver of Lessee's
previous or subsequent default with respect to timely payment of rent or other sums due, or prevent Lessor from exercising any
of the other rights and remedies granted hereunder concerning Lessee's default.

 

35.      
Entire Agreement:

 

This Lease constitutes the entire agreement between the parties,
and this shall not be modified unless the modification is in writing and signed by both parties. Lessee states that it is not entering
into this Lease based on any representations, warranties, promises or other inducements other than those set forth in this Lease.

 

 

 

    	 	8	 

     

    

 

36.      
Successors and Assigns:

 

The obligations and rights under this lease
shall be binding upon and inure to the benefit of the heirs, administrators, executors, successors and assigns of the parties;
provided, however, that any assignment or subletting by the Lessee, except to its Affiliate in violation of the terms of this
lease shall not vest any rights whatsoever in the assignee or subtenant.

 

37.            
Lessor and Lessee shall execute and file with the Department of Revenue, State of Colorado a Memorandum of this Lease within ten
(10) days of execution pursuant to Colorado Revised Statutes Section 39-22-604 (7) (c).

 

38.            
If any act or omission of Lessor will give Lessee the right, immediately or after lapse of a period of time, to cancel or terminate
this Lease, or to abate or offset against the payment of rent, or to claim a partial or total eviction, the Lessee shall not exercise
such right until it has given written notice that such act or omission has occurred and until a reasonable period for remedying
such act or omission shall have lapsed following the giving of such notice without a remedy being effected.

 

39.            
Lessor grants permission for Lessee to sub-lease if it so wishes, as long as Lessor approves the sub-lease tenant.

 

 

    	 	9	 

     

    

 

 

IN WITNESS WHEREOF, this
lease is hereby executed the day and year first above written.

 

Lessor: JW Properties, LLC

 

By: Jeff Weiss

 

Signature:
/s/ Jeff Weiss

 

Date:
7/23/15 

 

 

 

Lessee: Urgan-gro, LLC.

 

By:  Bradley Nattrass, CEO

 

Signature: /s/ Bradley Nattrass, CEO

 

Date: 07/23/15

 

 

    	 	10Exhibit 10.5

 

COMMERCIAL LEASE AGREEMENT

1751 Panorama Point – Unit E

Lafayette, Colorado 80026

urban-gro Inc.

 

THIS COMMERCIAL
LEASE AGREEMENT (the “Lease”) is entered into by and between Landlord and Tenant this 1st day of September,
2017.

 

	SECTION I.	TERMS AND DEFINITIONS

 

The following terms as used herein shall
have the meanings as set forth below:

 

A.                
“Landlord” means Bravo Lighting LLC. 

 

B.                
“Tenant” means urban-gro Inc.

 

C.                
“Guarantor” means urban-gro Inc.

 

D.                
“Project” means the building commonly known as 1751 Panorama Point Unit E located in the City of Lafayette,
which Project has approximately 662 rentable square feet office space and 2000 of warehouse space.

 

E.                 
“Building” means the building at the Project in which the Premises are located, at 1751 Panorama Point Unit
E located in the City of Lafayette

 

F.                 
“Premises” means the Space located at the address of 1751 Panorama Point Unit E located in the City of Lafayette
and consisting of approximately 2662 rentable square feet. The Premises include the common use of other outdoor areas, including
parking.

 

G.                
“Term” means the term of this Lease, which is for 1 year, as more particularly described in Section IV below.

 

H.                
“Commencement Date” means September 1st, 2017.

 

I.                  
“Monthly Base Rent” is as per the schedule shown below:

 

	Years	Monthly Base Rent
	1	$3,000 

 

J.                  
“Tenant’s Proportionate Share” means 100%, calculated by dividing the rentable square feet in the Premises
by the total rentable square feet in the Project; provided, however, that such percentage shall be subject to reasonable recalculation
after any modifications to the amount of rentable square feet in the Premises or the amount of rentable square feet in the Project.

 

K.                
“Permitted Use” means the operation of an agriculture and lighting business and uses necessary or incidental
thereto including but not limited to storage of lighting components, electronics, equipment, motors, pesticides, and R&D equipment.

 

L.                 
“Landlord’s Address” means 1751 Panorama Point Unit E, Lafayette, CO 80026.

 

M.               
“Tenant’s Address” means: of 1751 Panorama Point Unit G, Lafayette, CO 80026.

 

 

 

    	 	1	 

     

    

 

	SECTION II. 	PROPERTY LEASED

 

A.                
Premises. Upon and subject to the terms, covenants and conditions set forth in this Lease, Landlord hereby leases
to Tenant and Tenant hereby leases from Landlord the Premises.

 

B.                
Common Areas. Tenant shall have the right, for the benefit of Tenant and its employees, suppliers, shippers, customers
and invitees, to the non-exclusive use of all the Common Areas (as defined below).

 

	SECTION III.	DELIVERY OF POSSESSION

 

On the Commencement Date
Landlord will deliver the Premises to Tenant, and Tenant shall accept the same in its “AS IS, WHERE IS” condition.

 

	SECTION IV.	TERM

 

The Term shall begin
on the Commencement Date and end on the last day of the month which is 12 months after the month in which the Commencement Date
occurs.

 

	SECTION V.	MONTHLY RENT

 

Beginning September 1st 2017,
and for the duration of the term, Tenant shall pay to Landlord the Monthly Base Rent and Additional Rent in the amount and monthly
installments set forth in Section I(I) above. Such sums shall be payable by Tenant on or before the first day of each month, in
advance, at Landlord’s Address, or such other place as Landlord shall designate, without any prior demand therefore and without
any abatement, deduction or setoff whatsoever. If the Commencement Date should occur on a day other than the first day of a calendar
month, then the rental for such fractional month shall be prorated on a daily basis based upon a thirty (30) day calendar month.

 

	SECTION VI.	INSURANCE

 

A.                
Tenant’s Insurance. Tenant shall, during the Term hereof, keep in full force and effect the following insurance
and annually, on or before the anniversary date of this Lease, provide appropriate insurance certificates to Landlord:

 

(1)              
Comprehensive general liability insurance for the benefit of Tenant and Landlord as named insured and additional insured,
respectively, against claims for personal injury liability including, without limitation, bodily injury, death or property damage
liability and covering (i) the business operated by Tenant and by any subtenant of Tenant on the Premises, (ii) operations
of independent contractors engaged by Tenant for construction on or about the Premises, and (iii)  contractual liability,
with an aggregate limit not less than $1,000,000.00; such insurance may be furnished under a “primary” policy and an
“umbrella” policy, provided that it is primary insurance and not excess over or contributory with any insurance in
force for Landlord;

 

(2)              
a policy of fire, extended coverage, insuring the personal property, furniture, furnishings and fixtures belonging to Tenant
located on the Premises for not less than one hundred percent (100%) of the actual replacement value thereof;

 

(3)              
worker’s compensation insurance, with coverage as required by the State in which the Project is located;

 

(4)              
such other insurance as Landlord may reasonably determine to be necessary, consistent with standard industry practices.

 

Each insurance policy
obtained by Tenant pursuant to this Lease shall contain a clause that the insurer will provide Landlord with at least thirty (30)
days prior written notice of any material change, non-renewal or cancellation of the policy and shall be in a form and with a company
reasonably satisfactory to Landlord. Except for worker’s compensation insurance, each insurance certificate shall indicate
that the insurer waives its rights of subrogation against Landlord. In addition, any insurance policy obtained by Tenant shall
be written as primary policies, non-contributing with or in excess of any coverage which Landlord may carry. If Tenant fails to
maintain and secure the insurance coverage required under this Section VII(A), then Landlord shall have, in addition to all
other remedies provided herein and by law, the right, but not the obligation, to procure and maintain such insurance, the cost
of which shall be due and payable to Landlord by Tenant on demand.

 

 

 

 

    	 	2	 

     

    

 

If, on account of the
failure of Tenant to comply with the provisions of this Section VII(A), Landlord is deemed a co-insurer by its insurance carrier,
then any loss or damage which Landlord shall sustain by reason thereof shall be borne by Tenant and shall be immediately paid by
Tenant upon receipt of a bill thereof and evidence of such loss.

 

B.                
Landlord’s Insurance. Landlord shall, during the Term hereof, keep in full force and effect the following insurance:

 

(1)              
A policy of fire, extended coverage insurance insuring the Building of which the Premises are a part, in an amount at least
equal to the full replacement cost thereof; and

 

(2)              
such other insurance as Landlord may deem reasonably necessary for the protection of the Premises and the Project.

 

All insurance premiums
for Landlord’s insurance shall be included in Common Operating Costs, as described in Section XIII below.

 

C.                
Waiver of Subrogation. Landlord and Tenant each shall obtain from their respective insurers under all policies of
insurance required to be carried by such party hereunder or any other insurance actually carried by such party related to the Premises,
if any, a waiver of all rights of subrogation which the insurer of one party might have against the other party.

 

	SECTION VII.	INDEMNITY

 

A.                
Tenant’s Indemnity. Tenant agrees to indemnify, defend (with counsel reasonably satisfactory to Landlord) and
hold Landlord and its officers, directors, partners and employees entirely harmless from and against all liabilities, losses, demands,
actions, expenses or claims, including attorney’s fees and court costs, for injury to or death of any person or for damages
to any property arising out of or in any manner connected with (i) the use, occupancy or enjoyment of the Premises by Tenant
or Tenant’s agents, employees, invitees, or contractors (“Tenant’s Agents”) or any work, activity or other
things allowed or suffered by Tenant or Tenant’s Agents to be done in or about the Premises, (ii) any breach or default
in the performance of any obligation of Tenant under this Lease and (iii) any act or failure to act, whether negligent or
otherwise tortious, by Tenant or Tenant’s Agents on or about the Premises, Building or Project. All property of Tenant kept
or stored on the Premises or in the building shall be so kept or stored at the risk of Tenant only, and Tenant shall hold Landlord
harmless from any claims arising out of damage to the same, including subrogation claims by Tenant’s insurance carriers,
unless the damage or loss was caused by the negligent or reckless act or omission of Landlord and/or its representatives or agents.
Neither this nor any other indemnification contained in this Lease is limited by the amount of insurance carried by Tenant or required
to be carried by Tenant under this Lease.

 

B.                
Landlord’s Indemnity. Landlord agrees to indemnify, defend (with counsel reasonably satisfactory to Tenant)
and hold Tenant and its officers, directors, employees, successors and assigns, harmless from and against all liabilities, losses,
demands, actions, expenses or claims, including attorney’s fees and court costs, for injury to or death of any person or
for damages to any property caused by (i) any breach or default in the performance of any obligation of Landlord under this Lease
and (ii) any act or failure to act that constitutes intentional misconduct, recklessness or gross negligence by Landlord or Landlord’s
officers, directors, partners or employees on or about the Premises or the Project.

 

 

 

 

    	 	3	 

     

    

 

	SECTION VIII.	USE OF PREMISES

 

A.                
Permitted Uses. Tenant shall use the Premises solely for the Permitted Use. Tenant shall not do or permit anything
to be done in or about the Premises which will in any way obstruct or interfere with the rights of other tenants or occupants of
the Building or injure or annoy them or use or allow the Premises to be used for any immoral or unlawful purpose, nor shall Tenant
cause, maintain or permit any nuisance in, on or about the Premises. Tenant shall not commit or suffer to be committed any waste
in or upon the Premises.

 

B.                
Continuous Operation.

 

(1)              
From and after the date Tenant initially opens for business in the Premises, except during periods of renovation or remodeling,
Tenant shall operate continuously and uninterruptedly during normal business hours usually associated with the Permitted Use, and
shall keep the Premises fully staffed with employees and adequately stocked with trade fixtures and operating equipment to service
and supply the usual and ordinary requirements of its customers.

 

(2)              
Failure of Tenant to do business as herein required shall constitute a default by Tenant hereunder (subject to Tenant’s
notice and cure rights set forth herein).

 

C.                
Compliance with Laws. Tenant shall not use the Premises in any way (or permit or suffer anything to be done in or
about the Premises) which will conflict with any law, statute, ordinance or governmental rule or regulation) affecting the Project,
now in force or which may hereafter be enacted or promulgated including, but not limited to, the provisions of any city or county
zoning codes regulating the use of the Premises and any licensing requirements for the selling, serving or furnishing of Tenant’s
products. Tenant shall, at its sole cost and expense, promptly comply with (i) all laws, statutes, ordinances, and governmental
rules and regulations, now in force or which may hereafter be in force and (ii) all requirements, now in force or which may
hereafter be in force, of any board of fire underwriters or other similar body now or hereafter constituted relating to or affecting
the condition, use or occupancy of the Premises.

 

D.                
Landlord’s Rules and Regulations. Tenant shall, and Tenant agrees to cause its agents, servants, employees,
invitees, and licensees to observe and comply fully and faithfully with any rules and regulations (as the same may be modified,
the “Rules”) provided that any such Rules shall not be inconsistent with any other provision of this Lease and shall
be reasonable and have general application to all tenants in the Project. Landlord shall not be responsible to Tenant for failure
of any other tenant or occupant of the Project to observe or comply with any of the Rules.

 

E.                 
Parking. Tenant shall require its employees, agents, suppliers, licensees, vendors and contractors to park in areas
and in a manner designated by Landlord.

 

F.                 
Tenant Signage. All Tenant signage shall be subject to Landlord’s prior written consent, which consent shall
not be unreasonably withheld, delayed or conditioned, and criteria as to size and design materials and location, and shall comply
with the sign codes of any governmental or quasi-governmental authority having jurisdiction over the Project. Tenant shall maintain,
repair, and replace such signage (and repair any damage to the Building caused by the installation of such signage) as required
by Landlord during this Lease. The costs to install said signs shall be borne by Tenant.

 

	SECTION IX.	SERVICE AND UTILITIES

 

Landlord agrees to pay
the full cost of all utilities supplied to the Premises, together with any taxes thereon. Landlord shall be required to pay any
increased cost of any utilities and services resulting from any substantial recurrent use of the Premises for such utilities and
services or any use beyond what Landlord agrees to furnish or resulting from special electrical, cooling and ventilating needs
created in certain areas by telephone equipment, computers and other similar equipment or uses. If the Building is designed for
individual tenant operation of the heating, ventilation and cooling system, Landlord agrees to pay the cost of operating such system.
..

 

 

 

    	 	4	 

     

    

 

	SECTION X.	TENANT’S TAXES

 

Landlord shall pay before
delinquency every tax, assessment, license fee, excise and other charge, however described, which is imposed, levied, assessed
or charged by any governmental or quasi-governmental authority having jurisdiction over the Premises and which is payable in respect
of the Term upon or on account of (i) Tenant’s operations at, occupancy of, or conduct of business in or from the Premises,

 

	SECTION XI.	MAINTENANCE AND REPAIRS

 

A.                
Landlord’s Obligations. Landlord shall keep in good condition and repair, at Landlord’s cost and expense,
the foundations, exterior walls, structural condition of interior bearing walls, and roof of the Premises. Landlord shall not be
required to make any repairs that are the obligation of any other tenant or occupant within the Building or (unless covered by
Landlord’s insurance) repairs for damage caused by any negligent or intentional act or omission of Tenant or any person claiming
through or under Tenant or any of Tenant’s employees, suppliers, shippers, customers or invitees, in which event Tenant shall
repair such damage at its sole cost and expense (unless covered by Landlord’s insurance). Landlord shall not be liable for
and there shall be no abatement of rent with respect to, any injury to or interference with Tenant’s business arising from
any repair, maintenance, alteration or improvement in and to any portion of the Premises or the Project. Tenant hereby waives and
releases its right to make repairs at Landlord’s expense under any law, statute, ordinance, rules and regulations now or
hereafter in effect in any jurisdiction in which the Project is located, unless such damage or loss was caused by the negligent
or reckless act or omission of Landlord and/or its representatives or agents. Landlord is responsible for all permits and fees
arising from construction done to the premises that has occurred or will occur during the course of the lease.

 

B.                
Tenant’s Obligations. Tenant shall make all repairs and replacements as necessary to preserve in good working
order and condition the interior of the Premises and certain systems exclusively serving the Premises, including, without limitation,
plumbing within the Premises, heating, ventilating and air conditioning systems located within the Premises and installed for the
exclusive use of the Premises, electrical and lighting facilities and systems and equipment within the Premises, and all fixtures,
interior walls, interior surfaces of exterior walls, ceilings, windows, doors, cabinets, draperies, window coverings, carpeting
and other floor coverings, plate glass and skylights located within the Premises. Tenant shall, at its sole cost and expense, make
all repairs to the Premises, Building and Project which are required, in the reasonable opinion of Landlord, as a result of any
misuse or neglect committed or permitted by Tenant or by any subtenant, agent, employee, or servant of Tenant (unless covered by
Landlord’s insurance). In addition, Tenant shall, at its sole cost and expense, repair any damage which is caused by any
invitee of Tenant (unless covered by Landlord’s insurance).

 

C.                
Landlord’s Right to Make Repairs. In the event that Tenant fails to maintain the Premises in good and sanitary
order, condition and repair as required by this Lease, then, following thirty (30) days prior written notification to Tenant (except
in the case of any emergency, in which case no prior notification shall be required), Landlord shall have the right, but not the
obligation, to enter the Premises and to do such acts and expend such funds at the expense of Tenant as are required to place the
Premises in good and sanitary order, condition and repair. Any amount so expended by Landlord shall be paid by Tenant promptly
upon demand. Landlord shall have no liability to Tenant for any loss or damage that may accrue to Tenant’s merchandise, fixtures,
equipment, furniture or other property or for any inconvenience or interference with the use of the Premises by Tenant resulting
from Landlord’s performance of such maintenance or repair work, except to the extent the same was caused by the gross negligence
or willful misconduct of Landlord.

 

D.                
Condition of Premises Upon Surrender. Tenant shall, upon the expiration or earlier termination of the Term, surrender
the Premises to Landlord in the same condition as on the date Tenant took possession, broom clean, reasonable wear and tear excepted.
All appurtenances, fixtures, improvements, additions and other property attached to or installed in the Premises, whether by Landlord
or by or on behalf of Tenant, and whether at Landlord’s expense or Tenant’s expense, shall be and remain the property
of Landlord; provided that any business fixtures, furnishings and personal property installed on the Premises that are removable
without material damage to the Building or the Premises, whether the property of Tenant or leased by Tenant, shall be and remain
the property of Tenant and, at the expiration of the Term, shall be removed by Tenant at Tenant’s sole cost and expense.
Tenant shall promptly repair any damage to the Premises or the Building resulting from such removal. Any of Tenant’s property
not removed from the Premises prior to the expiration of the Term shall be deemed abandoned, and, at Landlord’s option, either
become the property of Landlord or may be removed by Landlord and Tenant shall pay to Landlord the cost of such removal within
ten (10) days after delivery of a bill therefore.

 

 

 

 

    	 	5	 

     

    

 

	SECTION XII.	ENTRY BY LANDLORD

 

Landlord reserves and
shall at any and all times have the right to enter the Premises at reasonable times, with reasonable prior notice, to inspect the
same, to supply any service to be provided by Landlord hereunder, to determine whether Tenant is complying with its obligations
hereunder, to exhibit the Premises to prospective purchasers, mortgagees or tenants, and to alter, improve or repair the Premises
and any portion of the Building as required or permitted herein, without abatement of rent, provided that the business of Tenant
shall not be interfered with unreasonably. The proceeding notwithstanding, Landlord shall have no obligation to advise Tenant prior
to entry of the Premises in the event of an emergency. Any entry to the Premises as provided herein shall not be construed or deemed
to be a forcible or unlawful entry into, or a detainer of, the Premises, or an eviction, actual or constructive, of Tenant from
the Premises, or any portion thereof.

 

	SECTION XIII.	DESTRUCTION

 

A.                
Minor Insured Damages. In the event the Premises, the Building of which the premises are a part, or any portion thereof,
is damaged or destroyed by any casualty that is covered by the insurance maintained by Landlord pursuant to Section VII above,
then Landlord shall rebuild and restore the Premises or Building, as the case may be, and repair the damaged portion thereof, provided
that (i) the amount of insurance proceeds available to Landlord equals or exceeds the cost of such rebuilding, restoration
and repair, (ii) such rebuilding, restoration and repair can be completed within ninety (90) days after the work commences
in the reasonable opinion of a registered architect or engineer appointed by Landlord, (iii) the damage or destruction has
occurred more than twelve (12) months before the expiration of the Term and (iv) such rebuilding, restoration, or repair is
then permitted, under applicable governmental laws, rules and regulations, to be done in such a manner as to return the Premises,
or Building, as the case may be, to substantially its condition immediately prior to the damage or destruction, including, without
limitation, the same rentable square footage. To the extent that insurance proceeds must be paid to a mortgagee or beneficiary
under, or must be applied to reduce any indebtedness secured by, a mortgage or deed of trust encumbering the Premises, or the Building,
such proceeds, for the purposes of this Section XVII(A), shall be deemed not available to Landlord unless such mortgagee or beneficiary
permits Landlord to use such proceeds for the rebuilding, restoration, and repair of the Premises, or Building. Notwithstanding
the foregoing, Landlord shall have no obligation to repair any damage to, or to replace any of, Tenant’s personal property,
furnishings, fixtures, equipment or other such property or effects of Tenant.

 

B.                
Major or Uninsured Damage. In the event the Premises, or the Building, or any portion thereof, is damaged or destroyed
by any casualty to the extent that Landlord is not obligated under Section XVII(A) above to rebuild or restore the Premises or
the Building, as the case may be, or to repair the damaged portion thereof, then Landlord may, at its option, either (i) rebuild
or restore the Premises or Building and repair the damaged portions thereof or (ii) terminate this Lease effective as of the
date the damage or destruction occurred. If Landlord does not give Tenant written notice within thirty (30) days after the damage
or destruction occurs of its election to rebuild or restore the Premises or Building, as the case may be, and repair the damaged
portions thereof, Landlord shall be deemed to have elected to terminate this Lease. Notwithstanding the foregoing, if Landlord
does not elect to terminate this Lease, Tenant may terminate this Lease upon thirty (30) days prior written notice if either (a) Landlord
determines that such repair or restoration cannot be completed within one hundred and eighty (180) days or (b) the damage
or destruction occurs within the last twelve (12) months of the Term, unless Tenant’s actions or omissions are the cause
of the damage against which Tenant shall indemnify Landlord pursuant to Section VIII above. If Landlord shall not exercise
its right to so terminate this Lease, Landlord shall have no obligation to repair any damage to, or to replace any of, Tenant’s
personal property, furnishings, fixtures, equipment or other such property or effects of Tenant and Tenant shall promptly repair
any damage to, or replace all of Tenant’s personal property, furnishings, fixtures, equipment and other such property or
effects of Tenant, unless such damage or loss was caused by the negligent or reckless act or omission of Landlord and/or its representatives
or agents.

 

 

 

    	 	6	 

     

    

 

C.                
Abatement of Monthly Rent. Notwithstanding anything herein to the contrary, there shall be an abatement of Monthly
Rent and all other items payable under this Lease and reimbursement of Additional Rent under Section XIII by reason of damage
to or destruction of the Premises or the Building, or any portion thereof, to the extent that either (i) Landlord received
insurance proceeds for loss of rental income attributable to the Premises or (ii) the Premises cannot be reasonably used by
Tenant for conduct of its business, in which event the Monthly Rent and all other items payable under this Lease shall abate proportionately
according to (i) or (ii) above commencing thirty (30) days after the damage to or destruction of the Premises or Building has occurred,
and except that, if Landlord or Tenant elects to terminate this Lease as provided in Section XVII(B) above, no obligation shall
accrue under this Lease after such termination. Notwithstanding the provisions of this Section XVII, if any such damage is
due to the fault or neglect of Tenant, any person claiming through or under Tenant, or any of their employees, suppliers, shippers,
customers or invitees, then there shall be no abatement of Monthly Rent and all other items payable under this Lease by reason
of such damage, unless and until Landlord is reimbursed for such abatement pursuant to any rental insurance policy that Landlord
may, in its sole discretion, elect to carry. Tenant’s right to terminate this Lease in the event of any damage or destruction
to the Premises or Building is governed by the terms of this Section XVII.

 

	SECTION XIV.	CONDEMNATION

 

A.                
Total or Partial Taking. If all or substantially all of the Premises is condemned or taken in any manner for public
or quasi-public use, including but not limited to, a conveyance or assignment in lieu of the condemnation or taking, this Lease
shall automatically terminate as of the earlier of the date on which actual physical possession is taken by the condemnor or the
date of dispossession of Tenant as a result of such condemnation or other taking. If less than all or substantial all of the Premises
is so condemned or taken and Tenant is able to successfully continue the conduct of its business and the balance of the Premises,
this Lease shall automatically terminate only as to the portion of the Premises so taken as of the earlier of the date on which
actual physical possession is taken by the condemnor or the date of dispossession of Tenant as a result of such condemnation or
taking. If such portion of the Building is condemned or otherwise taken so as to require, in the reasonable opinion of Landlord,
a substantial alteration or reconstruction of the remaining portions thereof, this Lease may be terminated by Landlord, as of the
date on which actual physical possession is taken by the condemnor or dispossession of Tenant as a result of such condemnation
or taking, by written notice to Tenant within sixty (60) days following notice to Landlord of the date on which such physical possession
is taken or dispossession will occur.

 

B.                
Award. Landlord shall be entitled to the entire award in any condemnation proceeding or other proceeding for taking
for public or quasi-public use, including, without limitation, any award made for the value of the leasehold estate created by
this Lease. No award for any partial or total taking shall be apportioned, and Tenant hereby assigns to Landlord any award that
may be made in such condemnation or other taking, together with any and all rights of Tenant now or hereafter arising in or to
the same or any part thereof. Although all damages in the event of any condemnation are to belong to Landlord whether such damages
are awarded as compensation for diminution in value of the leasehold or to the fee of the Premises, Tenant shall have the right
to claim and recover from the condemnor, but not from Landlord, such compensation as may be separately awarded or recoverable by
Tenant in Tenant’s own right on account of damages to Tenant’s business by reason of the condemnation and for or on
account of any cost or loss to which Tenant might be put in removing Tenant’s merchandise, furniture and other personal property,
fixtures, and equipment or for the interruption of or damage to Tenant’s business.

 

C.                
Abatement of Monthly Rent. Notwithstanding anything herein to the contrary, there shall be an abatement of Monthly
Rent in the event of a partial condemnation or other taking that does not result in a termination of this Lease as to the entire
Premises pursuant to this Section XVIII. In such event, the Monthly Rent and all other rental charges shall abate in proportion
to the portion of the Premises taken by such condemnation or other taking. If this Lease is terminated, in whole or in part, pursuant
to any of the provisions of this Section XVIII, all rentals and other charges payable by Tenant to Landlord hereunder and attributable
to the Premises taken shall be paid up to the date upon which actual physical possession shall be taken by the condemnor. Landlord
shall be entitled to retain all of the Security Deposit until such time as this Lease is terminated as to all of the Premises.

 

 

 

 

    	 	7	 

     

    

 

	SECTION XV.	HOLDING OVER

 

Tenant will have no right
to remain in possession of all or any part of the Premises after the expiration of the Term. If Tenant remains in possession of
all or any party of the Premises after the expiration of the Term, with the express or implied consent of Landlord: (i) such tenancy
will be deemed to be periodic tenancy from month-to-month only; (ii) such tenancy will not constitute a renewal or extension of
this Lease for any further term; and (ii) such tenancy may be terminated by Landlord upon the earlier of thirty (30) days prior
written notice or the earliest date permitted by law. In such event, Monthly Rent will be one hundred twenty percent (120%) of
the Monthly Rent in effect as of the last month of the Term, and any other sums due under this Lease will be payable in the amount
and at the times specified in this Lease. Such month-to-month tenancy will be subject to every other term, condition, and covenant
contained to this Lease. Any holding over without Landlord’s consent shall constitute a default by Tenant and shall entitle
Landlord to the remedies set forth herein and otherwise available at law.

 

	SECTION XVI.	DEFAULT

 

A.                
Tenant’s Default. The failure by Tenant to perform any one or more of the following obligations shall constitute
a default hereunder by Tenant:

 

(1)              
If Tenant abandons or vacates the Premises for more than thirty (30) days without Landlord’s prior written consent
(except in the case of eminent domain or destruction).

 

(2)              
If Tenant fails to pay any rent or other charges required to be paid by Tenant under this Lease and such failure continues
for five (5) days after Tenant has received written notification of such failure.

 

(3)              
If Tenant involuntarily transfers Tenant’s interest in this Lease or voluntarily transfers (attempted or actual) its
interest in this Lease, without Landlord’s prior written consent.

 

(4)              
If Tenant files a voluntary petition for relief or if a petition against Tenant in a proceeding under the Federal Bankruptcy
Laws or other insolvency laws is filed and not withdrawn or dismissed within sixty (60) days thereafter, or if under the provisions
of any law providing for reorganization or winding up of corporations, any court of competent jurisdiction assumes jurisdiction,
custody or control of Tenant or any substantial part of the Premises or any of Tenant’s personal property located at the
Premises and such jurisdiction, custody or control remains in force or unrelinquished, unstayed or unterminated for a period of
sixty (60) days.

 

(5)              
If in any proceeding or action in which Tenant is a party, a trustee, a receiver, agent or custodian is appointed to take
charge of the Premises or any of Tenant’s personal property located at the Premises (or has the authority to do so) for the
purpose of enforcing a lien against the Premises or Tenant’s personal property and the same is not discharged within sixty
(60) days.

 

(6)              
If Tenant fails to promptly and fully perform any other covenant, condition or agreement contained in this Lease and such
failure continues for thirty (30) days after written notice thereof from Landlord to Tenant; provided that, if the failure cannot
reasonably be cured within thirty (30) days, so long as Tenant commences the cure within thirty (30) days and thereafter prosecutes
the same to conclusion, such long period (not to exceed one hundred twenty (120) days as shall reasonably be required for such
cure.

 

 

 

 

    	 	8	 

     

    

 

B.                
Remedies of Landlord. Upon the occurrence of a default by Tenant that is not cured by Tenant within the cure period
specified above, Landlord shall have the following rights and remedies in addition to all other rights and remedies available to
Landlord at law or in equity:

 

(1)              
The rights and remedies to recover from Tenant upon termination of the Lease:

 

(a)               
The worth at the time of award of the unpaid rent which had been earned at the time of termination;

 

(b)              
The worth at the time of award of the amount by which the unpaid rent which would have been earned after termination until
the time of award exceeds the amount of such rental loss that Landlord could reasonably have avoided;

 

(c)               
The worth at the time of award of the amount, if any, by which the unpaid rent for the balance of the Term after the time
of award exceeds the fair rental value of the Premises; and

 

(2)              
The rights and remedies which allow Landlord to continue this Lease in effect and to enforce all of its rights and remedies
under this Lease, including the right to recover rent and any other additional monetary charges as they become due, for as long
as Landlord does not terminate Tenant’s right to possession less the amount thereof Landlord did recover or with reasonable
diligence could have recovered by reletting the Premises. Acts of maintenance or preservation, efforts to relet the Premises or
the appointment of a receiver upon Landlord’s initiative to protect its interest under this Lease shall not constitute a
termination of Tenant’s right to possession.

 

(3)              
The right to terminate this Lease by giving notice to Tenant in accordance with applicable law.

 

(4)              
The right and power to enter the Premises and remove therefrom all persons and property, to store such property in a public
warehouse or elsewhere at the cost of and for the account of Tenant. Landlord may from time to time sublet the Premises or any
part thereof for such term or terms (which may extend beyond the Term) and at such rent and such other terms as Landlord in its
sole discretion may deem advisable, with the right to make alterations in and repairs to the Premises. Upon each such subletting,
Tenant shall be immediately liable for payment to Landlord of the cost of such subletting and such alterations and repairs incurred
by Landlord, if any. Any amounts received by Landlord from such subletting shall be applied first toward the cost of any alterations
or repairs made to the Premises in connection with such subletting; second, to payment of Monthly Rent, Tenant’s Proportionate
Share of Common Operating Costs, and other monetary obligations due and unpaid hereunder, and the residue, if any, shall be held
by Landlord and applied in payment of future Monthly Rent, Tenant’s Proportionate Share of Common Operating Costs, and other
monetary obligations as the same become due hereunder. If Tenant has been credited with any rent to be received by such subletting
and such rent shall not be promptly paid to Landlord by the subtenant(s), or if such rentals received from such subletting during
any month are less than those paid to Landlord by the subtenant, or if such rentals received from such subletting during any month
are less than those to be paid during that month by Tenant hereunder, Tenant shall pay any such deficiency to Landlord. Such deficiency
shall be calculated and paid monthly. No taking possession of the Premises by Landlord, under this Section XXI(B)(4), shall
be construed as an election on Landlord’s part to terminate this Lease unless written notice of such intention is given to
Tenant. Notwithstanding any such subletting without termination, Landlord may at any time thereafter elect to terminate this Lease
for such previous breach.

 

(5)              
Notwithstanding anything herein contained to the contrary, if Tenant shall be in default in the performance of any of the
terms or provisions of this Lease and if Landlord shall give to Tenant notice in writing of such default specifying the nature
thereof, and if Tenant shall fail to cure such default within the time herein provided or immediately if such default requires
emergency action, Landlord may, in addition to its other legal and equitable remedies, cure such default for the account of and
at the cost and expense of Tenant, and the sums so expended by Landlord, including reasonable legal fees, shall be deemed to be
additional rent and shall be paid by Tenant on the day when rent shall next become due and payable.

 

C.                
Remedies Cumulative. No reference to nor exercise of any specific right or remedy by Landlord shall prejudice or
preclude Landlord from exercising or invoking any other remedy in respect thereof, whether allowed at law or in equity or expressly
provided for herein, except to the extent, if any, expressly limited by the provisions of this Lease. No such remedy shall be exclusive
or dependent upon any other such remedy, but either party may from time to time exercise any one (1) or more of such remedies independently
or in combination. No provision of this Lease shall limit or prejudice the right of Landlord to prove and obtain, as damages by
reason of any termination of this Lease, an amount equal to the maximum allowed by any statute or rule of law in effect at the
time when, and governing the proceedings in which, such damages are to be proved, regardless of whether such amount is greater,
equal to, or less than any amounts that may be referred to in this Section XXI.

 

 

 

 

    	 	9	 

     

    

 

D.                
Landlord’s Default. If Landlord fails to promptly and fully perform any of its covenants, conditions or agreements
contained in this Lease and such failure continues for thirty (30) days after written notice thereof from Tenant to Landlord, such
failure shall constitute a default hereunder by Landlord.

 

E.                 
Tenant’s Remedies. Upon the occurrence of a default by Landlord that is not cured by Landlord within the cure
period specified above, Tenant shall have, as its sole and exclusive remedies, the right to sue Landlord for damages and/or for
termination of this Lease.

 

	SECTION XVII.	LATE PAYMENTS

 

A.                
Late Charges. Monthly Rent and Tenant’s Proportionate Share of the Common Operating Costs are due on the 1st
day of the month. If any payment is delinquent for four (4) days or more, Tenant, at Landlord’s option, may be charged a
$5.00/day fee until the outstanding balance is paid in full. In addition to the foregoing, a returned check charge of $25.00 will
be assessed for all rent payments returned for any reason. In the event of a returned check, Landlord may require Tenant to pay
future rent payments by certified funds, cashier’s check, or money order. Landlord is under no obligation to accept two party
checks or partial payments. Tenant shall not withhold rent for any reason.

 

B.                
Interest on Late Payments. At Landlord’s option, any amount due from Tenant to Landlord which is not paid when
due shall bear interest at the lesser of four percent (4%) above the Prime Rate being quoted by The Wall Street Journal or the
maximum rate permitted by law from the date such payment is due until paid, except that amounts spent by Landlord on behalf of
Tenant shall bear interest at such rate from the date Landlord gives Tenant written notice of such disbursement by Landlord.

 

C.                
No Waiver. Neither assessment nor acceptance of any late charge or interest by Landlord shall constitute a waiver
of Tenant’s default (if any) with respect to such overdue amount, nor prevent Landlord from exercising any of its other rights
and remedies under this Lease. Nothing contained in this Section XXIV shall be deemed to condone, authorize, sanction or grant
to Tenant an option for the late payment of rent, additional rent or other sums due hereunder, and Tenant shall be deemed in default
with regard to any such payments should the same not be made by the date on which they are due.

 

	SECTION XVIII.	RELEASE AND PARTY IN INTEREST

 

Tenant agrees that in
the event Tenant shall have any claim against Landlord under this Lease arising out of the subject matter of this Lease, Tenant’s
sole recourse shall be against Landlord’s interest in the Project and Tenant further hereby waives any and all right to assert
any claim against or obtain any damages from, for any reason whatsoever, the directors, officers and partners of Landlord.

 

	SECTION XIX.	NOTICES

 

Any notice, demand, approval,
consent, bill, statement or other communication required or desired to be given under this Lease in writing shall be directed to
Tenant at Tenant’s Address or to Landlord at Landlord’s Address and shall be personally served or given by mail. If
such notice is mailed, the same shall be deemed to have been given when three (3) days have elapsed from the date of the deposit
into the United States Mail, certified and postage prepaid.

 

	SECTION XX.	QUIET ENJOYMENT

 

Upon payment by Tenant
of the rents herein provided, and upon the observance and performance of all the covenants, terms and conditions on Tenant’s
part to be observed and performed, Landlord shall warrant and defend Tenant against all Persons claiming under, by or through Landlord,
in the quiet enjoyment and possession of the Premises during the Term.

 

 

 

 

    	 	10	 

     

    

 

	SECTION XXI.	Miscellaneous

 

A.                
No Offer. This Lease is submitted to Tenant and the understanding that will not be considered an offer and will not
bind Landlord in any way until (i) Tenant has dually executed and delivered duplicate originals to Landlord and (ii) Landlord has
executed and delivered one of such originals to Tenant.

 

B.                
No Construction against Drafting Party. Landlord and Tenant acknowledge that each of them and their counsel have
had an opportunity to review this Lease and that this Lease will not be construed against Landlord merely because Landlord’s
counsel had prepared it.

 

C.                
Section Headings. The section headings used in this Lease are for the purposes of convenience only. They shall not
be construed to limit or to extend the meaning of any part of this Lease.

 

D.                
Incorporation of Prior Agreements; Amendments. This Lease contains all agreements of Landlord and Tenant with respect
to any matter mentioned, or dealt with, herein. No prior agreement or understanding pertaining to any such matter shall be binding
upon Landlord. Any amendments to or modifications of this Lease shall be in writing, signed by the parties hereto, and neither
Landlord nor Tenant shall be liable for any oral or implied agreements.

 

E.                 
No Waiver. The waiver by Landlord or Tenant of any agreement, condition, or provision contained in this Lease will
not be deemed to be a waiver of any subsequent breach of the same or any other agreement, condition, or provisions contained in
this Lease, nor will any custom or practice that may grow up between the parties in the administration of the terms of this Lease
be construed to waive or lesson the right of Landlord or Tenant to insist upon the performance by the other in strict accordance
with the terms of this Lease. The subsequent acceptance of rent by Landlord will not be deemed to be a waiver of any preceding
breach by Tenant of any agreement, condition, or provision of this Lease, other than the failure of Tenant to pay the particular
rent so accepted, regardless of Landlord’s knowledge of such preceding breach at the time of acceptance of such rent.

 

F.                 
Time of the Essence. Time is of the essence in the performance of each provision of this Lease.

 

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

 

H.                
Litigation. In the event of litigation arising under this Lease the party, if any, prevailing on the more substantial
part of its claims and defense, shall be entitled to recover all costs and expenses associated therewith, including, but not limited
to, reasonable attorney fees.

 

I.                   
Waiver of Jury Trial. Landlord and Tenant by both hereby waive their respective rights to trial by jury in any action,
proceeding, or counterclaim brought by either of the parties to this Lease against the other on any matters whatsoever arising
out of or in any way connected with this Lease, the relationship of Landlord and Tenant, Tenant’s use or occupancy of the
Premises, or any other claims (including without limitation claims for personal injury or property damage), and any emergency statutory
or any other statutory remedy.

 

J.                  
Governing Law. This Lease will be governed by and construed pursuant to the laws of Colorado.

 

K.                
Counterparts. This Lease may be executed in several duplicate counterparts, each of which shall be deemed an original
of this Lease for all purposes.

 

 

 

 

    	 	11	 

     

    

 

IN WITNESS WHEREOF, Landlord and Tenant
have executed this Commercial Lease Agreement as of the date first above written.

 

	 	LANDLORD:	Bravo Lighting LLC.	 
	 	 	 	 	 
	 	 	By:	/s/ Octavio Gutierrez	 
	 	 	Name:	Octavio Gutierrez	 
	 	 	Its: 	Manager	 
	 	 	 	 	 
	 	 	 	 	 
	 	TENANT:	urban-gro Inc.	 
	 	 	 	 	 
	 	 	By:	/s/ Bradley
Nattrass	 
	 	 	Name:	Bradley
Nattrass	 
	 	 	 	 	 

 

 

 

 

 

 

 

    	 	12

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