Document:

Exhibit 10.8

 

 

 

CHARLOTTE 3 PARK MHP LLC, as mortgagor
 (Borrower)

 

to

 

PACIFIC CURRENT PARTNERS, LLC, as mortgagee
 (Lender)

 

______________________________________________________

 

MORTGAGE AND SECURITY AGREEMENT

_____________________________________________________

 

		Dated:	As of December 21, 2021

 

		County:	York County, South Carolina

 

PREPARED BY AND UPON

RECORDATION RETURN TO:

Winstead PC

201 North Tryon Street

Suite 2000

Charlotte, North Carolina 28202

Attention: Sayer Nixon, Esq.

 

21478-3715/Pacific Current Partners – NC & SC MHC Financing

 

 

 

     

     

    

 

THIS MORTGAGE AND SECURITY
AGREEMENT (this “Security Instrument”) is made as of the 21st day of December, 2021, by CHARLOTTE
3 PARK MHP LLC, a North Carolina limited liability company, having an address at 136 Main Street, Pineville, North Carolina
28134, as mortgagor (“Borrower”) to PACIFIC CURRENT PARTNERS, LLC, a California limited liability company, having
an address at 548 Market Street, Suite 50631, San Francisco, California 94104, as mortgagee (“Lender”).

 

RECITALS:

 

This Security Instrument is
given to secure a loan (the “Loan”) in the principal sum of ONE MILLION FIVE HUNDRED THOUSAND AND 00/100 DOLLARS ($1,500,000.00)
made pursuant hereto and evidenced by that certain Promissory Note, dated the date hereof, made by Borrower in favor of Lender (such Promissory
Note, together with all extensions, renewals, replacements, restatements, amendments, supplements, severances or modifications thereof
being hereinafter referred to as the “Note”).

 

Borrower desires to secure
the payment of the Debt which is all liability and obligations of Borrower to Lender under the Loan and the performance of all of its
obligations under the Note and the other Loan Documents (as herein defined).

 

ARTICLE
1

GRANTS OF SECURITY

 

Section 1.1 Property
Mortgaged. Borrower does hereby irrevocably mortgage, grant, bargain, sell, pledge, assign, warrant, transfer and convey to
and grant a security interest to Lender and its successors and assigns in, the following property, rights, interests and estates now owned,
or hereafter acquired by Borrower (collectively, the “Property”):

 

(a) Land.
The real property described in Exhibit A attached hereto and made a part hereof (the “Land”);

 

(b) Additional
Land. All additional lands, estates and development rights hereafter acquired by Borrower for use in connection with the Land and
the development of the Land and all additional lands and estates therein which may, from time to time, by supplemental mortgage or otherwise
be expressly made subject to the lien of this Security Instrument;

 

(c) Improvements.
The buildings, structures, fixtures, additions, enlargements, extensions, modifications, repairs, replacements and improvements now or
hereafter erected or located on the Land (the “Improvements”);

 

(d) Easements.
All easements, rights-of-way or use, rights, strips and gores of land, streets, ways, alleys, passages, sewer rights, water, water courses,
water rights and powers, air rights and development rights, and all estates, rights, titles, interests, privileges, liberties, servitudes,
tenements, hereditaments and appurtenances of any nature whatsoever, in any way now or hereafter belonging, relating or pertaining to
the Land and the Improvements and the reversion and reversions, remainder and remainders, and all land lying in the bed of any street,
road or avenue, opened or proposed, in front of or adjoining the Land, 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 Borrower of, in and to the Land and the Improvements and every part and parcel thereof, with the appurtenances thereto;

 

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(e) Fixtures
and Personal Property. All machinery, equipment, fixtures (including, but not limited to, all heating, air conditioning, plumbing,
lighting, communications and elevator fixtures, inventory and goods), including, but not limited to, the Park Owned Homes, and all other
property of every kind and nature whatsoever owned by Borrower, or in which Borrower has or shall have an interest, now or hereafter located
upon the Land and the Improvements, or appurtenant thereto, and usable in connection with the present or future operation and occupancy
of the Land and the Improvements and all building equipment, materials and supplies of any nature whatsoever owned by Borrower, or in
which Borrower has or shall have an interest, now or hereafter located upon the Land and the Improvements, or appurtenant thereto, or
usable in connection with the present or future operation and occupancy of the Land and the Improvements (collectively, the “Personal
Property”), and the right, title and interest of Borrower in and to any of the Personal Property which may be subject to any
security interests, as defined in the Uniform Commercial Code, as adopted and enacted by the State or States where any of the Property
is located (the “Uniform Commercial Code”), superior in lien to the lien of this Security Instrument and all proceeds
and products of the above;

 

(f) Leases
and Rents. All leases, subleases, rental agreements and other agreements, whether or not in writing, affecting the use, enjoyment
or occupancy of the Land and/or the Improvements heretofore or hereafter entered into and all extensions, amendments and modifications
thereto, whether before or after the filing by or against Borrower of any petition for relief under the Bankruptcy Code (the “Leases”)
and all right, title and interest of Borrower, its successors and assigns therein and thereunder, including, without limitation, any guaranties
of the lessees’ obligations thereunder, cash or securities deposited thereunder to secure the performance by the lessees of their obligations
thereunder and all rents, additional rents, payments in connection with any termination, cancellation or surrender of any Lease, revenues,
issues and profits (including all oil and gas or other mineral royalties and bonuses) from the Land and/or the Improvements whether paid
or accruing before or after the filing by or against Borrower of any petition for relief under the Bankruptcy Code and all proceeds from
the sale or other disposition of the Leases (the “Rents”) and the right to receive and apply the Rents to the payment
of the Debt;

 

(g) Condemnation
Awards. All awards or payments, including interest thereon, which may heretofore and hereafter be made with respect to the Property,
whether from the exercise of the right of eminent domain (including but not limited to any transfer made in lieu of or in anticipation
of the exercise of the right), or for a change of grade, or for any other injury to or decrease in the value of the Property;

 

(h) Insurance
Proceeds. All proceeds of and any unearned premiums on any insurance policies covering the 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 Property;

 

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(i) Tax
Certiorari. All refunds, rebates or credits in connection with a reduction in real estate taxes and assessments charged against the
Property as a result of tax certiorari or any applications or proceedings for reduction;

 

(j) Conversion.
All proceeds of the conversion, voluntary or involuntary, of any of the foregoing including, without limitation, proceeds of insurance
and condemnation awards, into cash or liquidation claims;

 

(k) Rights.
The right, in the name and on behalf of Borrower, to appear in and defend any action or proceeding brought with respect to the Property
and to commence any action or proceeding to protect the interest of Lender in the Property;

 

(l) Agreements.
All agreements, contracts, certificates, instruments, franchises, permits, licenses, plans, specifications, guaranties, indemnities and
other documents, now or hereafter entered into, and all rights therein and thereto, respecting or pertaining to the use, occupation, construction,
management or operation of the Land and any part thereof and any Improvements or respecting any business or activity conducted on the
Land and any part thereof and all right, title and interest of Borrower therein and thereunder, including, without limitation, the right,
upon the happening of any default hereunder, to receive and collect any sums payable to Borrower thereunder;

 

(m) Intangibles.
All trade names, trademarks, servicemarks, logos, copyrights, goodwill, books and records and all other general intangibles relating to
or used in connection with the operation of the Property;

 

(n) Accounts.
All accounts, account collateral, reserves, escrows and deposit accounts maintained by Borrower with respect to the Property and all complete
securities, investments, property and financial assets held therein from time to time and all proceeds, products, distributions or dividends
or substitutions thereon and thereof;

 

(o) Causes
of Action. All causes of action and claims (including, without limitation, all causes of action or claims arising in tort, by contract,
by fraud or by concealment of material fact) against any Person for damages or injury to the Property or in connection with any transactions
financed in whole or in part by the proceeds of the Loan (“Cause of Action”); and

 

(p) Intentionally
Omitted.

 

(q) Other
Rights. Any and all other rights of Borrower in and to the items set forth in Subsections (a) through (p) above.

 

Section 1.2 Assignment
of Leases and Rents. Borrower hereby absolutely and unconditionally assigns to Lender Borrower’s right, title and interest
in and to all current and future Leases and Rents; it being intended by Borrower that this assignment constitutes a present, absolute
assignment and not an assignment for additional security only. Nevertheless, subject to the terms of the Loan Documents, Lender grants
to Borrower a revocable license to collect and receive the Rents. Borrower shall hold the Rents, or a portion thereof sufficient to discharge
all current sums due on the Debt, for use in the payment of such sums.

 

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Section 1.3 Security
Agreement. This Security Instrument is both a real property mortgage and a “security agreement” within the meaning
of the Uniform Commercial Code. The Property includes both real and personal property and all other rights and interests, whether tangible
or intangible in nature, of Borrower in the Property. By executing and delivering this Security Instrument, Borrower hereby grants to
Lender, as security for the Obligations, (as herein defined) a security interest in the Property to the full extent that the Property
may be subject to the Uniform Commercial Code.

 

Section 1.4 Fixture
Filing. Certain of the Property is or will become “fixtures” (as that term is defined in the Uniform Commercial Code)
on the Land, described or referred to in this Security Instrument, and this Security Instrument, upon being filed for record in the real
estate records of the city or county wherein such fixtures are situated, shall operate also as a financing statement filed as a fixture
filing in accordance with the applicable provisions of said Uniform Commercial Code upon such of the Property that is or may become fixtures.

 

Section 1.5 Pledge
of Monies Held. Borrower hereby pledges to Lender any and all monies now or hereafter held by Lender as additional security
for the Obligations until expended or applied as provided in the Loan Documents.

 

CONDITIONS TO GRANT

 

TO HAVE AND TO HOLD the above
granted and described Property unto and to the use and benefit of Lender and its successors and assigns, forever;

 

WITH POWER OF SALE TO SECURE
payment to Lender of the Debt at the time and in the manner provided for its payment in the Note and in this Security Instrument.

 

PROVIDED, HOWEVER, these presents
are upon the express condition that, if Borrower shall well and truly pay to Lender the Debt at the time and in the manner provided in
the Note and this Security Instrument, shall well and truly perform the Other Obligations (as herein defined) as set forth in this Security
Instrument and shall well and truly abide by and comply with each and every covenant and condition set forth herein, and in the Note,
these presents and the estate hereby granted shall cease, terminate and be void.

 

ARTICLE
2

DEBT AND OBLIGATIONS SECURED

 

Section 2.1 Debt.
This Security Instrument and the grants, assignments and transfers made in Article 1 are given for the purpose of securing
the Debt.

 

Section 2.2 Other
Obligations. This Security Instrument and the grants, assignments and transfers made in Article 1 are also given
for the purpose of securing the following (the “Other Obligations”):

 

(a) the
performance of all other obligations of Borrower contained herein;

 

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(b) the
performance of each obligation of Borrower contained in any other agreement given by Borrower to Lender which is for the purpose of further
securing the obligations secured hereby, and any renewals, extensions, substitutions, replacements, amendments, modifications and changes
thereto; and

 

(c) the
performance of each obligation of Borrower contained in any renewal, extension, amendment, modification, consolidation, change of, or
substitution or replacement for, all or any part of the Note, this Security Instrument or the other Loan Documents.

 

Section 2.3 Debt
and Other Obligations. Borrower’s obligations for the payment of the Debt and the performance of the Other Obligations shall
be referred to collectively below as the “Obligations.”

 

ARTICLE
3

BORROWER COVENANTS

 

Borrower covenants and agrees
that:

 

Section 3.1 Payment
of Debt. Borrower will pay the Debt at the time and in the manner provided in the Note and in this Security Instrument.

 

Section 3.2 Incorporation
by Reference. All the covenants, conditions and agreements contained in the Note and all and any of the other Loan Documents,
are hereby made a part of this Security Instrument to the same extent and with the same force as if fully set forth herein.

 

Section 3.3 Payment
For Labor and Materials. Borrower will promptly pay when due all bills and costs for labor, materials, and specifically fabricated
materials (“Labor and Material Costs”) incurred in connection with the Property and never permit to exist beyond the
due date thereof in respect of the Property or any part thereof any lien or security interest, even though inferior to the liens and the
security interests hereof, and in any event never permit to be created or exist in respect of the Property or any part thereof any other
or additional lien or security interest other than the liens or security interests hereof except for the Permitted Encumbrances. After
prior written notice to Lender, Borrower, at its own expense, may contest by appropriate legal proceeding, promptly initiated and conducted
in good faith and with due diligence, the amount or validity or application in whole or in part of any of the Labor and Material Costs,
provided that (i) no Event of Default has occurred and is continuing under the Note, this Security Instrument or any of the other
Loan Documents, (ii) Borrower is permitted to do so under the provisions of any other mortgage, deed of trust or deed to secure debt
affecting the Property, (iii) such proceeding shall suspend the collection of the Labor and Material Costs from Borrower and from
the Property or Borrower shall have paid all of the Labor and Material Costs under protest, (iv) such proceeding shall be permitted
under and be conducted in accordance with the provisions of any other instrument to which Borrower is subject and shall not constitute
a default thereunder, (v) neither the Property nor any part thereof or interest therein will be in danger of being sold, forfeited,
terminated, canceled or lost, and (vi) Borrower shall have furnished the security as may be required in the proceeding, or as may
be reasonably requested by Lender to insure the payment of any contested Labor and Material Costs, together with all interest and penalties
thereon.

 

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Section 3.4 Performance
of Other Agreements. Borrower shall observe and perform each and every term to be observed or performed by Borrower pursuant
to the terms of the other Loan Documents and any agreement or recorded instrument affecting or pertaining to the Property, or given by
Borrower to Lender for the purpose of further securing the Obligations and any amendments, modifications or changes thereto.

 

ARTICLE
4

OBLIGATIONS AND RELIANCES

 

Section 4.1 Relationship
of Borrower and Lender. The relationship between Borrower and Lender is solely that of debtor and creditor, and Lender has
no fiduciary or other special relationship with Borrower, and no term or condition of the Note, this Security Instrument and the other
Loan Documents shall be construed so as to deem the relationship between Borrower and Lender to be other than that of debtor and creditor.

 

Section 4.2 No
Reliance on Lender. The general partners, officers, shareholders, members, principals and/or other beneficial owners of Borrower
are experienced in the ownership and operation of properties similar to the Property, and Borrower and Lender are relying solely upon
such expertise and business plan in connection with the ownership and operation of the Property. Borrower is not relying on Lender’s expertise,
business acumen or advice in connection with the Property.

 

Section 4.3 No
Lender Obligations. (a) Notwithstanding the provisions of Subsections 1.1(f) and (l) or Section 1.2,
Lender is not undertaking the performance of (i) any obligations under the Leases; or (ii) any obligations with respect to such
agreements, contracts, certificates, instruments, franchises, permits, trademarks, licenses and other documents.

 

(b) By
accepting or approving anything required to be observed, performed or fulfilled or to be given to Lender pursuant to this Security Instrument,
the Note or the other Loan Documents, including without limitation, any officer’s certificate, balance sheet, statement of profit and
loss or other financial statement, survey, appraisal, or insurance policy, Lender shall not be deemed to have warranted, consented to,
or affirmed the sufficiency, the legality or effectiveness of same, and such acceptance or approval thereof shall not constitute any warranty
or affirmation with respect thereto by Lender.

 

Section 4.4 Reliance.
Borrower recognizes and acknowledges that in accepting the Note, this Security Instrument and the other Loan Documents, (i) Lender
is expressly and primarily relying on the truth and accuracy of the warranties and representations set forth in the Loan Documents without
any obligation to investigate the Property and notwithstanding any investigation of the Property by Lender; (ii) that such reliance
existed on the part of Lender prior to the date hereof; (iii) that the warranties and representations are a material inducement to
Lender in accepting the Note, this Security Instrument and the other Loan Documents; and that Lender would not be willing to make the
Loan and accept this Security Instrument in the absence of the warranties and representations as set forth in the Loan Documents.

 

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ARTICLE
5

FURTHER ASSURANCES

 

Section 5.1 Recording
of Security Instrument, etc. Borrower forthwith upon the execution and delivery of this Security Instrument and thereafter,
from time to time, will cause this Security Instrument and any of the other Loan Documents creating a lien or security interest or evidencing
the lien hereof upon the 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 and perfect the lien or security
interest hereof upon, and the interest of Lender in, the Property. Borrower will pay all taxes, filing, registration or recording fees,
and all expenses incident to the preparation, execution, acknowledgment and/or recording of the Note, this Security Instrument, the other
Loan Documents, and any instrument of further assurance, and any modification or amendment of the foregoing documents, and all federal,
state, county and municipal taxes, duties, imposts, assessments and charges arising out of or in connection with the execution and delivery
of this Security Instrument, the other Loan Documents, or any instrument of further assurance, and any modification or amendment of the
foregoing documents, except where prohibited by law so to do.

 

Section 5.2 Further
Acts, etc. Borrower will, at the cost of Borrower, and without expense to Lender, do, execute, acknowledge and deliver all
and every such further acts, deeds, conveyances, deeds of trust, mortgages, assignments, notices of assignments, transfers and assurances
as Lender shall, from time to time, reasonably require, for the better assuring, conveying, assigning, transferring, and confirming unto
Lender the Property and rights hereby deeded, mortgaged, granted, bargained, sold, conveyed, confirmed, pledged, assigned, warranted and
transferred or intended now or hereafter so to be, or which Borrower may be or may hereafter become bound to convey or assign to Lender,
or for carrying out the intention or facilitating the performance of the terms of this Security Instrument or for filing, registering
or recording this Security Instrument, or for complying with all Legal Requirements, and Borrower hereby authorizes Lender to execute
any of the foregoing in the name of Borrower or without the signature of Borrower to the extent that Lender may lawfully do so. Borrower
hereby authorizes Lender to file in the appropriate filing or recording offices, with or without the signature of Borrower, one or more
financing statements (including any amendment or continuation thereof), chattel mortgages or other instruments to establish, maintain,
or evidence more effectively the validity, perfection or priority of the security interest of Lender in the Property. Borrower grants
to Lender an irrevocable power of attorney coupled with an interest for the purpose of exercising and perfecting any and all rights and
remedies available to Lender at law and in equity, including without limitation such rights and remedies available to Lender pursuant
to this Section 5.2.

 

Section 5.3 Changes
in Tax, Debt Credit and Documentary Stamp Laws.

 

(a) If
any law is enacted or adopted or amended after the date of this Security Instrument which deducts the Debt from the value of the Property
for the purpose of taxation or which imposes a tax, either directly or indirectly, on the Debt or Lender’s interest in the Property, Borrower
will pay the tax, with interest and penalties thereon, if any. If Lender is advised by counsel chosen by it that the payment of tax by
Borrower would be unlawful or taxable to Lender or unenforceable or provide the basis for a defense of usury, then Lender shall have the
option, exercisable by written notice of not less than one hundred twenty (120) days to declare the Debt immediately due and payable,
without prepayment penalty or premium.

 

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(b) Borrower
will not claim or demand or be entitled to any credit or credits on account of the Debt for any part of the Taxes or Other Charges assessed
against the Property, or any part thereof, and no deduction shall otherwise be made or claimed from the assessed value of the Property,
or any part thereof, for real estate tax purposes by reason of this Security Instrument or the Debt. If such claim, credit or deduction
shall be required by law, Lender shall have the option, exercisable by written notice of not less than one hundred twenty (120) days,
to declare the Debt immediately due and payable, without prepayment penalty or premium.

 

(c) If
at any time the United States of America, any State thereof or any subdivision of any such State shall require revenue or other stamps
to be affixed to the Note, this Security Instrument, or any of the other Loan Documents or impose any other tax or charge on the same,
Borrower will pay for the same, with interest and penalties thereon, if any.

 

Section 5.4 Replacement
Documents. Upon receipt of an affidavit of an officer of Lender as to the loss, theft, destruction or mutilation of the Note
or any other Loan Document which is not of public record, and, in the case of any such mutilation, upon surrender and cancellation of
such Note or other Loan Documents, Borrower will issue, in lieu thereof, a replacement Note or other Loan Documents, dated the date of
such lost, stolen, destroyed or mutilated Note or other Loan Documents in the same principal amount thereof and otherwise of like tenor.

 

Section 5.5 Performance
at Borrower’s Expense. Borrower acknowledges and confirms that Lender shall impose certain administrative processing and/or
commitment fees in connection with (a) the extension, renewal, modification, amendment and termination of the Loan, (b) the
release or substitution of collateral therefor, (c) obtaining certain consents, waivers and approvals with respect to the Property,
or (d) the review of any Lease or proposed Lease or the preparation or review of any subordination, non-disturbance agreement (the
occurrence of any of the above shall be called an “Event”). Borrower further acknowledges and confirms that it shall
be responsible for the payment of all costs of reappraisal of the Property or any part thereof, whether required by law, regulation, Lender
or any governmental or quasi-governmental authority. Borrower hereby acknowledges and agrees to pay, immediately, with or without demand,
all such fees (as the same may be increased or decreased from time to time), and any additional fees of a similar type or nature which
may be imposed by Lender from time to time, upon the occurrence of any Event. Wherever it is provided for herein that Borrower pay any
costs and expenses, such costs and expenses shall include, but not be limited to, all legal fees and disbursements of Lender, whether
with respect to retained firms, the reimbursement for the expenses of in-house staff or otherwise.

 

Section 5.6 Legal
Fees for Enforcement. (a) Borrower shall pay all reasonable legal fees incurred by Lender in connection with the preparation
of the Note, this Security Instrument and the other Loan Documents and (b) Borrower shall pay to Lender on demand any and all expenses,
including legal expenses and attorneys’ fees, incurred or paid by Lender in protecting its interest in the Property or in collecting any
amount payable hereunder or in enforcing its rights hereunder with respect to the Property (including commencing any foreclosure action),
whether or not any legal proceeding is commenced hereunder or thereunder, together with interest thereon at the Default Rate from the
date paid or incurred by Lender until such expenses are paid by Borrower.

 

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Section 5.7 Splitting
of Mortgage. This Security Instrument and the Note shall, at any time until the same shall be fully paid and satisfied, at
the sole election of Lender, be split or divided into two or more notes and two or more security instruments, each of which shall cover
all or a portion of the Property to be more particularly described therein. To that end, Borrower, upon written request of Lender, shall
execute, acknowledge and deliver, or cause to be executed, acknowledged and delivered by the then owner of the Property, to Lender and/or
its designee or designees substitute notes and security instruments in such principal amounts, aggregating not more than the then unpaid
principal amount of the Note, and containing terms, provisions and clauses similar to those contained herein and in the Note, and such
other documents and instruments as may be required by Lender.

 

ARTICLE
6

DUE ON SALE/ENCUMBRANCE

 

Section 6.1 Lender
Reliance. Borrower acknowledges that Lender has examined and relied on the experience of Borrower and its partners, members,
principals and (if Borrower is a trust) beneficial owners in owning and operating properties such as the Property in agreeing to make
the Loan, and will continue to rely on Borrower’s ownership of the Property as a means of maintaining the value of the Property as security
for repayment of the Debt and the performance of the Other Obligations. Borrower acknowledges that Lender has a valid interest in maintaining
the value of the Property so as to ensure that, should Borrower default in the repayment of the Debt or the performance of the Other Obligations,
Lender can recover the Debt by a sale of the Property.

 

Section 6.2 No
Sale/Encumbrance. Neither Borrower nor any Restricted Party shall Transfer the Property or any part thereof or any interest
therein or permit or suffer the Property or any part thereof or any interest therein to be Transferred.

 

ARTICLE
7

intentionally omitted

 

ARTICLE
8

RIGHTS AND REMEDIES

 

Section 8.1 Remedies.
During an Event of Default, Borrower agrees that Lender may take such action, without notice or demand, as it deems advisable to protect
and enforce its rights against Borrower and in and to the Property, including, but not limited to, the following actions, each of which
may be pursued concurrently or otherwise, at such time and in such order as Lender may determine, in its sole discretion, without impairing
or otherwise affecting the other rights and remedies of Lender:

 

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

 

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(b) institute
proceedings, judicial or otherwise, for the complete foreclosure of this Security Instrument under any applicable provision of law in
which case the Property or any interest therein 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;

 

(c) 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 Security Instrument for the portion of the Debt then due and payable, subject to the continuing lien and security
interest of this Security Instrument for the balance of the Debt not then due, unimpaired and without loss of priority;

 

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

 

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

 

(f) recover
judgment on the Note either before, during or after any proceedings for the enforcement of this Security Instrument or the other Loan
Documents;

 

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

 

(h) the
license granted to Borrower under Section 1.2 hereof shall automatically be revoked and Lender may enter into or upon the
Property, either personally or by its agents, nominees or attorneys and dispossess Borrower and its agents and servants therefrom, without
liability for trespass, damages or otherwise and exclude Borrower and its agents or servants wholly therefrom, and take possession of
all books, records and accounts relating thereto and Borrower agrees to surrender possession of the Property and of such books, records
and accounts to Lender upon demand, and thereupon Lender may (i) use, operate, manage, control, insure, maintain, repair, restore
and otherwise deal with all and every part of the Property and conduct business thereon; (ii) complete any construction on the Property
in such manner and form as Lender deems advisable; (iii) make alterations, additions, renewals, replacements and improvements to
or on the Property; (iv) exercise all rights and powers of Borrower with respect to the Property, whether in the name of Borrower
or otherwise, including, without limitation, the right to make, cancel, enforce or modify Leases, obtain and evict tenants, and demand,
sue for, collect and receive all Rents of the Property and every part thereof; (v) require Borrower to pay monthly in advance to
Lender, or any receiver appointed to collect the Rents, the fair and reasonable rental value for the use and occupation of such part of
the Property as may be occupied by Borrower; (vi) require Borrower to vacate and surrender possession of the Property to Lender or
to such receiver and, in default thereof, Borrower may be evicted by summary proceedings or otherwise; and (vii) apply the receipts
from the Property to the payment of the Debt, in such order, priority and proportions as Lender shall deem appropriate in its sole discretion
after deducting therefrom all expenses (including reasonable attorneys’ fees) incurred in connection with the aforesaid operations and
all amounts necessary to pay the Taxes, Other Charges, Insurance Premiums and other expenses in connection with the Property, as well
as just and reasonable compensation for the services of Lender, its counsel, agents and employees;

 

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(i) exercise
any and all rights and remedies granted to a secured party upon default under the Uniform Commercial Code, including, without limiting
the generality of the foregoing: (i) the right to take possession of any Property (including, without limitation, the Personal Property)
or any part thereof, and to take such other measures as Lender may deem necessary for the care, protection and preservation of the Property
(including without limitation, the Personal Property), and (ii) request Borrower at its expense to assemble the Property, including
without limitation, the Personal Property, and make it available to Lender at a convenient place acceptable to Lender. Any notice of sale,
disposition or other intended action by Lender with respect to the Property, including without limitation, the Personal Property, sent
to Borrower in accordance with the provisions hereof at least five (5) days prior to such action, shall constitute commercially reasonable
notice to Borrower;

 

(j) apply
any sums then deposited in the Accounts and any other sums held in escrow or otherwise by Lender in accordance with the terms of this
Security Instrument, the Loan Agreement, or any other Loan Documents to the payment of the following items in any order in its sole discretion:

 

(i) Taxes
and Other Charges;

 

(ii) Insurance
Premiums;

 

(iii) interest
on the unpaid principal balance of the Note;

 

(iv) amortization
(if any) of the unpaid principal balance of the Note; or

 

(v) all
other sums payable pursuant to the Note, this Security Instrument and the other Loan Documents, including without limitation advances
made by Lender pursuant to the terms of this Security Instrument;

 

(k) surrender
the Policies, collect the unearned Insurance Premiums and apply such sums as a credit on the Debt in such priority and proportion as Lender
in its discretion shall deem proper, and in connection therewith, Borrower hereby appoints Lender as agent and attorney-in-fact (which
is coupled with an interest and is therefore irrevocable) for Borrower to collect such Insurance Premiums;

 

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(l) apply
the undisbursed balance of any Net Proceeds Deficiency deposit, together with interest thereon, to the payment of the Debt in such order,
priority and proportions as Lender shall deem to be appropriate in its discretion;

 

(m) foreclose
by power of sale or otherwise and apply the proceeds of any recovery to the Debt in accordance with Section 8.2 or to any
deficiency under this Security Instrument;

 

(n) exercise
all rights and remedies under any Causes of Action, whether before or after any sale of the Property by foreclosure, power of sale, or
otherwise and apply the proceeds of any recovery to the Debt in accordance with Section 8.2 or to any deficiency under this
Security Instrument; or

 

(o) pursue
such other remedies as Lender may have under applicable law.

 

In the event of a sale, by foreclosure, power
of sale (if permitted under applicable law), or otherwise, of less than all of the Property, this Security Instrument shall continue as
a lien and security interest on the remaining portion of the Property unimpaired and without loss of priority.

 

Section 8.2 Application
of Proceeds. The purchase money, proceeds and avails of any disposition of the Property, or any part thereof, or any other
sums collected by Lender pursuant to the Note, this Security Instrument, or the other Loan Documents, may be applied by Lender to the
payment of the Debt in such priority and proportions as Lender in its discretion shall deem proper.

 

Section 8.3 Right
to Cure Defaults. During any Event of Default Lender may, but without any obligation to do so and without notice to or demand
on Borrower (unless required by applicable law) and without releasing Borrower from any obligation hereunder, make or do the same in such
manner and to such extent as Lender may deem necessary to protect the security hereof. Lender is authorized to enter upon the Property
for such purposes, or appear in, defend, or bring any action or proceeding to protect its interest in the Property or to foreclose this
Security Instrument or collect the Debt. The cost and expense of any cure hereunder (including reasonable attorneys’ fees to the extent
permitted by law), with interest as provided below, shall constitute a portion of the Debt and shall be due and payable to Lender upon
demand. All such costs and expenses incurred by Lender in remedying such Event of Default shall bear interest at the Default Rate for
the period after notice from Lender that such cost or expense was incurred to the date of payment to Lender and shall be deemed to constitute
a portion of the Debt and be secured by this Security Instrument and the other Loan Documents and shall be immediately due and payable
upon demand by Lender therefor.

 

Section 8.4 Actions
and Proceedings. Lender has the right to appear in and defend any action or proceeding brought with respect to the Property
and, after the occurrence and during the continuance of an Event of Default, to bring any action or proceeding, in the name and on behalf
of Borrower, which Lender, in its discretion, decides should be brought to protect its interest in the Property.

 

Section 8.5 Recovery
of Sums Required To Be Paid. Lender shall have the right from time to time to take action to recover any sum or sums which
constitute a part of the Debt as the same become due, without regard to whether or not the balance of the Debt shall be due, and without
prejudice to the right of Lender thereafter to bring an action of foreclosure, or any other action, for an Event of Default existing at
the time such earlier action was commenced.

 

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Section 8.6 Other
Rights, etc. (a) The failure of Lender to insist upon strict performance of any term hereof shall not be deemed to be a waiver
of any term of this Security Instrument. Borrower shall not be relieved of Borrower’s obligations hereunder by reason of (i) the
failure of Lender to comply with any request of Borrower or any Guarantor to take any action to foreclose this Security Instrument or
otherwise enforce any of the provisions hereof or of the Note or the other Loan Documents, (ii) the release, regardless of consideration,
of the whole or any part of the Property, or of any person liable for the Debt or any portion thereof, or (iii) any agreement or
stipulation by Lender extending the time of payment or otherwise modifying or supplementing the terms of the Note, this Security Instrument
or the other Loan Documents.

 

(b) It
is agreed that the risk of loss or damage to the Property is on Borrower, and Lender shall have no liability whatsoever for decline in
value of the Property, for failure to maintain the Policies, or for failure to determine whether insurance in force is adequate as to
the amount of risks insured. Possession by Lender shall not be deemed an election of judicial relief, if any such possession is requested
or obtained, with respect to the Property or any other Property not in Lender’s possession.

 

(c) Lender
may resort for the payment of the Debt to any other security held by Lender in such order and manner as Lender, in its discretion, may
elect. Lender may take action to recover the Debt, or any portion thereof, or to enforce any covenant hereof without prejudice to the
right of Lender thereafter to foreclose this Security Instrument. The rights of Lender under this Security Instrument shall be separate,
distinct and cumulative and none shall be given effect to the exclusion of the others. No act of Lender shall be construed as an election
to proceed under any one provision herein to the exclusion of any other provision. Lender shall not be limited exclusively to the rights
and remedies herein stated but shall be entitled to every right and remedy now or hereafter afforded at law or in equity.

 

Section 8.7 Right
to Release Any Portion of the Property. Lender may release any portion of the Property for such consideration as Lender may
require without, as to the remainder of the Property, in any way impairing or affecting the lien or priority of this Security Instrument,
or improving the position of any subordinate lienholder with respect thereto, except to the extent that the obligations hereunder shall
have been reduced by the actual monetary consideration, if any, received by Lender for such release, and may accept by assignment, pledge
or otherwise any other property in place thereof as Lender may require without being accountable for so doing to any other lienholder.
This Security Instrument shall continue as a lien and security interest in the remaining portion of the Property.

 

Section 8.8 Violation
of Laws. If the Property is not in compliance with Legal Requirements, Lender may impose additional requirements upon Borrower
in connection herewith including, without limitation, monetary reserves or financial equivalents.

 

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Section 8.9 Right
of Entry. Lender and its agents shall have the right to enter and inspect the Property at all reasonable times.

 

Section 8.10 Subrogation.
If any or all of the proceeds of the Note have been used to extinguish, extend or renew any indebtedness heretofore existing against the
Property, then, to the extent of the funds so used, Lender shall be subrogated to all of the rights, claims, liens, titles, and interests
existing against the Property heretofore held by, or in favor of, the holder of such indebtedness and such former rights, claims, liens,
titles, and interests, if any, are not waived but rather are continued in full force and effect in favor of Lender and are merged with
the lien and security interest created herein as cumulative security for the repayment of the Debt, and the performance and discharge
of the Obligations.

 

Section 8.11 Recourse
and Choice of Remedies. Notwithstanding any other provision of this Security Instrument, Lender and other Indemnified Parties
are entitled to enforce the obligations of Borrower contained in the Loan Documents without first resorting to or exhausting any security
or collateral and without first having recourse to the Note or any of the Property, through foreclosure or acceptance of a deed in lieu
of foreclosure or otherwise, and in the event Lender commences a foreclosure action against the Property, Lender is entitled to pursue
a deficiency judgment with respect to such obligations against Borrower. Borrower is fully and personally liable for the obligations pursuant
to the Loan Documents. The liability of Borrower is not limited to the original principal amount of the Note. Notwithstanding the foregoing,
nothing herein shall inhibit or prevent Lender from foreclosing or exercising any other rights and remedies pursuant to the Note, this
Security Instrument and the other Loan Documents, whether simultaneously with foreclosure proceedings or in any other sequence. A separate
action or actions may be brought and prosecuted against Borrower, whether or not action is brought against any other Person or whether
or not any other Person is joined in the action or actions.

 

ARTICLE
9

WAIVERS

 

Section 9.1 Waiver
of Counterclaim. Borrower hereby waives the right to assert a counterclaim, other than a mandatory or compulsory counterclaim,
in any action or proceeding brought against it by Lender arising out of or in any way connected with this Security Instrument, the Note,
any of the other Loan Documents, or the Obligations.

 

Section 9.2 Marshalling
and Other Matters. Borrower 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 Property or any part thereof or any interest therein. Further, Borrower hereby expressly waives any and all rights of redemption
from sale under any order or decree of foreclosure of this Security Instrument on behalf of Borrower, and on behalf of each Person acquiring
any interest in or title to the Property subsequent to the date of this Security Instrument and on behalf of all persons to the extent
permitted by Legal Requirements.

 

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Section 9.3 Waiver
of Notice. Borrower shall not be entitled to any notices of any nature whatsoever from Lender except (a) with respect
to matters for which this Security Instrument or any other Loan Document, specifically and expressly provides for the giving of notice
by Lender to Borrower, and (b) with respect to matters for which Lender is required by any applicable law to give notice, and Borrower
hereby expressly waives the right to receive any notice from Lender with respect to any matter for which this Security Instrument does
not specifically and expressly provide for the giving of notice by Lender to Borrower.

 

Section 9.4 Waiver
of Statute of Limitations. Borrower hereby expressly waives and releases to the fullest extent permitted by law, the pleading
of any statute of limitations as a defense to payment of the Debt or performance of its Other Obligations.

 

ARTICLE
10

INTENTIONALLY OMITTED

 

ARTICLE
11

APPLICABLE LAW

 

Section 11.1 Governing
Law. THIS SECURITY INSTRUMENT AND THE OBLIGATIONS ARISING HEREUNDER SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH,
THE LAWS OF THE STATE OF CALIFORNIA APPLICABLE TO CONTRACTS MADE AND PERFORMED IN SUCH STATE (WITHOUT REGARD TO PRINCIPLES OF CONFLICT
LAWS) AND ANY APPLICABLE LAW OF THE UNITED STATES OF AMERICA, EXCEPT WITH RESPECT TO MATTERS REGARDING THE REAL ESTATE AND SECURITY INTERESTS
AND RIGHTS AND REMEDIES THEREIN WHICH MATTERS SHALL BE GOVERNED BY THE LAWS OF THE STATE OF SOUTH CAROLINA.

 

ARTICLE
12

DEFINITIONS

 

Section 12.1 General
Definitions. Unless the context clearly indicates a contrary intent or unless otherwise specifically provided herein, words
used in this Security Instrument may be used interchangeably in singular or plural form and the word “Borrower” shall mean “each
Borrower and any subsequent owner or owners of the Property or any part thereof or any interest therein,” the word “Lender”
shall mean “Lender and any subsequent holder of the Note,” the word “Note,” shall mean “the Note and any other
evidence of indebtedness secured by this Security Instrument,” the word “Property” shall include any portion of the Property
and any interest therein, and the phrases “legal fees”, “attorneys’ fees” and “counsel fees” shall include
any and all reasonable attorneys’, paralegal and law clerk fees and disbursements, including, but not limited to, reasonable fees and
disbursements at the pre-trial, trial and appellate levels incurred or paid by Lender in protecting its interest in the Property, the
Leases and the Rents and enforcing its rights hereunder.

 

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Section 12.2 Headings,
etc. The headings and captions of various Articles and Sections of this Security Instrument 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.

 

ARTICLE
13

MISCELLANEOUS PROVISIONS

 

Section 13.1 No
Oral Change. This Security Instrument and any provisions hereof, 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 against whom enforcement of any modification, amendment, waiver, extension, change, discharge or termination is sought.

 

Section 13.2 Liability.
If Borrower consists of more than one person, the obligations and liabilities of each such person hereunder shall be joint and several.
This Security Instrument shall be binding upon and inure to the benefit of Borrower and Lender and their respective successors and assigns
forever.

 

Section 13.3 Inapplicable
Provisions. If any term, covenant or condition of this Security Instrument or any other Loan Document, is held to be invalid,
illegal or unenforceable in any respect, the Note and this Security Instrument or the other Loan Documents, as the case may be, shall
be construed without such provision.

 

Section 13.4 Duplicate
Originals; Counterparts. This Security Instrument may be executed in any number of duplicate originals and each duplicate original
shall be deemed to be an original. This Security Instrument may be executed in several counterparts, each of which counterparts shall
be deemed an original instrument and all of which together shall constitute a single Security Instrument. The failure of any party hereto
to execute this Security Instrument, or any counterpart hereof, shall not relieve the other signatories from their obligations hereunder.

 

Section 13.5 Number
and Gender. Whenever the context may require, any pronouns used herein shall include the corresponding masculine, feminine
or neuter forms, and the singular form of nouns and pronouns shall include the plural and vice versa.

 

ARTICLE
14

CROSS-COLLATERALIZATION

 

Section 14.1 Cross-Collateralization.
Borrower acknowledges that the Debt is secured by this Security Instrument together with those additional Security Instruments given by
Borrower and/or certain Affiliates of Borrower to Lender, together with their respective Assignments of Leases and other Loan Documents
securing or evidencing the Debt, and encumbering the other Individual Properties, all as more specifically set forth in the Loan Agreement.
Upon the occurrence of an Event of Default, Lender shall have the right to institute a proceeding or proceedings for the total or partial
foreclosure of this Security Instrument and any or all of the other Security Instruments whether by court action, power of sale or otherwise,
under any applicable provision of law, for all of the Debt or the portion of the Debt allocated to the Property, and the lien and the
security interest created by the other Security Instruments shall continue in full force and effect without loss of priority as a lien
and security interest securing the payment of that portion of the Debt then due and payable but still outstanding. Borrower acknowledges
and agrees that the Property and the other Individual Properties are located in one or more States and counties, and therefore Lender
shall be permitted to enforce payment of the Debt and the performance of any term, covenant or condition of the Note, this Security Instrument,
the Loan Documents or the other Security Instruments and exercise any and all rights and remedies under the Note, this Security Instrument,
the other Loan Documents or the other Security Instruments, or as provided by law or at equity, by one or more proceedings, whether contemporaneous,
consecutive or both, to be determined by Lender, in its sole discretion, in any one or more of the States or counties in which the Property
or any other Individual Property is located. Neither the acceptance of this Security Instrument, the other Loan Documents or the other
Security Instruments nor the enforcement thereof in any one State or county, whether by court action, foreclosure, power of sale or otherwise,
shall prejudice or in any way limit or preclude enforcement by court action, foreclosure, power of sale or otherwise, of the Note, this
Security Instrument, the other Loan Documents, or any other Security Instruments through one or more additional proceedings in that State
or county or in any other State or county. Any and all sums received by Lender under the Note, this Security Instrument, and the other
Loan Documents shall be applied to the Debt in such order and priority as Lender shall determine, in its sole discretion, without regard
to the Allocated Loan Amount for the Property or any other Individual Property or the appraised value of the Property or any Individual
Property.

 

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ARTICLE
15

STATE SPECIFIC PROVISIONS

 

Section 15.1 Inconsistencies.
In the event of any inconsistencies between the terms and conditions of this Article 15 and the other provisions of this Security
Instrument, the terms and conditions of this Article 15 shall control and be binding.

 

Section
15.2 This Security Instrument shall secure any future advances, with interest thereon at the rate then applicable to principal
under the Note, made by Lender to or for the benefit of Borrower in accordance with Section 29-3-50, Code of Laws of South Carolina
1976, as amended, whether obligatory or not, to the same extent as though such future advances were made at the execution of the Note
and this Security Instrument. The total amount of the Debt secured by this Security Instrument may be increased or decreased from time
to time, but the total unpaid balance so secured at any one time, including interest thereon, attorneys’ fees, court costs and any disbursements
made under the Loan Documents for the payment of taxes or impositions, insurance or otherwise, with interest at the Default Rate on such
disbursements, shall not exceed two hundred percent (200%) of the face amount of the Note. TO THE EXTENT PROVIDED IN THE LOAN DOCUMENTS,
INTEREST OR DISCOUNT WILL BE DEFERRED, ACCRUED OR CAPITALIZED. It is the intent of the parties that all of such Debt shall (i) be equally
and automatically secured hereby; (ii) regardless of the date advanced, have the same priority as any portion thereof advanced as of the
date of this Security Instrument; (iii) be subject to all of the terms, provisions and conditions of this Security Instrument and the
other Loan Documents, whether or not any portion thereof is evidenced by other promissory notes of Borrower and without the necessity
of any such note or other evidence of indebtedness identifying such additional loan or future advance as part of the Debt. Nothing herein
contained shall imply any obligation on the part of the Lender to make any such additional loan(s) or future advance(s).

 

Section
15.3 Limitations Based Upon Applicable Law. The parties intend that the provisions in this Security Instrument granting
remedies or benefits of waivers, self-help or other similar provisions shall be construed and limited to the extent permitted under applicable
law.

 

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Specific Waiver of Statutory
Appraisal Rights. The laws of South Carolina provide that in any real estate foreclosure proceeding a defendant against whom a personal
judgment is taken or asked may, within thirty (30) days after the sale of the mortgaged property, apply to the court for an order of appraisal.
The statutory appraisal value as approved by the court would be substituted for the high bid and may decrease the amount of any deficiency
owing in connection with the transaction. Pursuant to Section 29-3-680 of the Code of Laws of South Carolina, 1976, as amended, THE
UNDERSIGNED HEREBY WAIVES AND RELINQUISHES THE STATUTORY APPRAISAL RIGHTS WHICH MEANS THE HIGH BID AT THE JUDICIAL FORECLOSURE SALE WILL
BE APPLIED TO THE DEBT REGARDLESS OF ANY APPRAISED VALUE OF THE MORTGAGED PROPERTY.

 

IN WITNESS WHEREOF, THIS SECURITY
INSTRUMENT has been executed under seal by Borrower the day and year first above written.

 

	 	 	 	BORROWER:
	 	 	 	 	 	 	 
	Signed, Sealed and Delivered	 	CHARLOTTE 3 PARK MHP LLC,
	In the Presence Of:	 	a North Carolina limited liability company
	 	 	 	 	 	 	 
	WITNESSES:	 	By:	/s/ Michael Anise 	(SEAL)
	 	 	 	 	Name: 	Michael Anise	 
	 	 	 	 	Title:	President	 
	/s/ Adam Martin 	 	 	 	 	 
	Name: 	Adam Martin 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	/s/ Daniel Salcedo 	 	 	 	 	 
	Name:	Daniel Salcedo 	 	 	 	 	 

 

ACKNOWLEDGMENT

 

	STATE OF NORTH CAROLINA 	)
	 	) : ss.
	COUNTY OF MECKLENBURG 	)

 

The foregoing instrument was
acknowledged before me this ___16 day of __Dec__, 2021 by MICHAEL ANISE, President of CHARLOTTE
3 PARK MHP LLC, a North Carolina limited liability company, on behalf of said limited liability company.

 

	[
    S E A L ] 	/s/
    Janalyn M. Bailey
	 	Notary
    Public, State of North Carolina
	 	 
	My
    Commission Expires:	 
	 	 
		Janalyn
    M. Bailey
	03/25/2024	Printed
    Name of Notary Public
		 

 

MORTGAGE AND SECURITY AGREEMENT Signature/Witness/Acknowledgment Page

21478-3715/Pacific Current Partners – NC & SC MHC Financing

 

     

     

    

 

EXHIBIT A

 

(Description of Land)

 

TRACT 1

 

Section 15.4 A TRACT OF LAND
SITUATED IN YORK COUNTY, SOUTH CAROLINA, CITY OF YORK; SAID TRACT BEING THE SAME AS THAT RECORDED IN PLAT BOOK 34, PAGE 21, R.M.C. OFFICE
OF AFORESAID COUNTY AND STATE; SAID TRACT BEING MORE PRACTICALLY DESCRIBED BY THE FOLLOWING METES AND BOUNDS, THE BEARINGS OF WHICH ARE
BASED ON SOUTH CAROLINA GRID:

 

COMMENCE AT A 1/2-INCH REBAR AT THE INTERSECTION
OF THE WESTERLY RIGHT-OF-WAY LINE OF HALL STREET (VARIABLE RIGHT-OF-WAY) WITH THE NORTHERLY RIGHT-OF-WAY LINE OF WOOD STREET (VARIABLE
RIGHT-OF-WAY); THENCE S62°36’52“W ALONG SAID NORTHERLY RIGHT-OF-WAY LINE OF WOOD STREET FOR A DISTANCE OF 200.05 FEET TO A l-INCH
IRON PIPE AT THE SOUTHWESTERLY CORNER OF LANDS NOW OR FORMERLY OWNED BY TABERNACLE OF PARISE FULL GOSPEL CHURCH (DB 12141 PG 112) AND
THE POINT OF BEGINNING OF THE TRACT HEREIN DESCRIBED; THENCE CONTINUE ALONG SAID RIGHT-OF-WAY S62°34’15“W FOR A DISTANCE OF 321.28
FEET; THENCE ALONG THE EASTERLY & NORTHERLY-WESTERLY BOUNDARY OF LANDS NOW OR FORMERLY OWNED BY ALAN WITHROW TRUSTEE (DB 1003 PG 63);
THENCE ALONG SAID WITHROW LANDS FOR THE FOLLOWING COURSES AND DISTANCES: N30°31’45“W FOR A DISTANCE OF 120.00 FEET; S62°34’15“W
FOR A DISTANCE OF 150.00 FEET; S30°31’45“E FOR A DISTANCE OF 120.00 FEET TO A IRON ROD; THENCE S27°20’01“E ALONG WESTERLY
RIGHT-OF-WAY LINE OF SAID WOOD STREET FOR A DISTANCE OF 39.21 FEET TO 1/2-INCH IRON ROD; THENCE ALONG THE NORTH-NORTHWESTERLY LINES OF
LANDS NOW OR FORMERLY OWNED BY LARKIN (DB 12141 PG 252) FOR THE FOLLOWING COURSES AND DISTANCES: S61°02’38“W OR A DISTANCE OF
114.16 FEET TO A l-INCH IRON PIPE; S25°28’42“E FOR A DISTANCE OF 108.74 FEET TO A 1-INCH IRON PIPE; THENCE S58°18’00“W
ALONG THE NORTHERLY LINE OF LANDS NOW OR FORMERLY OWNED BY SAID LARKIN AND COCHRAN (DB 15878 PG 63) FOR A DISTANCE OF 179.33 FEET; THENCE
S54°14’00“W ALONG THE NORTHERLY LINE OF LANDS NOW OR FORMERLY OWNED BY ROOT (DB 16614 PG 365) FOR A DISTANCE OF 126.72 FEET TO
A l-INCH IRON PIPE IN THE CENTER OF AND OLD RAILROAD BED PRESENTLY KNOWN AS THE CAROLINA & NORTHWESTERN RAIL TRAIL; THENCE ALONG SAID
RAILROAD BED FOR THE FOLLOWING COURSES AND DISTANCES: N05°49’03“W FOR A DISTANCE OF 337.84 FEET; N02°32’19“W FOR A
DISTANCE OF 307.26 FEET; N03°51’48“W FOR A DISTANCE OF 73.17 FEET TO A 1/2-INCH IRON ROD; NORTHERLY 401.03 FEET ALONG A,CURVE
TO THE RIGHT, CONCAVE TO THE EAST, HAVING A CENTRAL ANGLE OF 18°32’49”, A RADIUS OF 1238.87 FEET, AND A CHORD BEARING AND DISTANCE
OF N02°55’03“E AND 399.28 FEET TO AN IRON ROD WITH AEI CAP ON THE SOUTHERLY RIGHT-OF-WAY LINE OF N. CONGRESS STREET (VARIABLE
RIGHT-OF-WAY); THENCE ALONG THE WESTERLY-SOUTHERLY LINES OF LANDS NOW OR FORMERLY OWNED BY NORMAN (DB 15601 PG 217) FOR THE FOLLOWING
COURSES AND DISTANCES: S48°17’49“E FOR A DISTANCE OF 58.32 FEET TO 3/4-INCH IRON PIPE; S43°09’44“E FOR A DISTANCE OF
350.27 FEET TO A 5/8-INCH IRON ROD; N47°17’03“E FOR A DISTANCE OF 162.98 FEET TO A 5/8 INCH REBAR; THENCE N52°45’29“E
ALONG THE SOUTHERLY LINE OF LANDS NOW OR FORMERLY OWNED BY KURTH (DB 15864 PG 294), ROBINSON (DB 1311 PG 11), AND MCDOWELL (DB 16232 PG
312) FOR A DISTANCE OF 329.18 FEET TO THE WESTERLY RIGHT-OF-WAY LINE OF SAID HALL STREET; THENCE S29°40’38“E ALONG SAID HALL
STREET RIGHT-OF-WAY LINE FOR A DISTANCE OF 330.33 FEET TO A 1/2·INCH IRON ROD; THENCE ALONG THE NORTHERLY-WESTERLY BOUNDARY OF
SAID TABERNACLE CHURCH LANDS FOR THE FOLLOWING COURSE AND DISTANCES: S62“06’38“W FOR A DISTANCE OF 202.35 FEET TO A 2-INCH IRON
PIPE; S27°37’52“E FOR A DISTANCE OF 197.51 FEET TO THE POINT OF BEGINNING OF SAID TRACT.

 

EXHIBIT A, Description of Land

21478-3715/Pacific Current Partners – NC & SC MHC Financing

 

     

     

    

 

SAID TRACT CONTAINING 11.219
ACRES AS DEPICTED ON AN ALTA/NSPS LAND TITLE SURVEY PREPARED BY AEI CONSULTANTS (JOB 408173).

 

TRACT2

 

Section 15.5 A TRACT OF
LAND SITUATED IN YORK COUNTY, SOUTH CAROLINA, CITY OF YORK; SAID TRACT BEING THE SAME AS THAT RECORDED IN PLAT BOOK 34, PAGE 21, R.M.C.
OFFICE OF AFORESAID COUNTY AND STATE; SAID TRACT BEING MORE PRACTICALLY DESCRIBED BY THE FOLLOWING METES AND BOUNDS, THE BEARINGS OF WHICH
ARE BASED ON SOUTH CAROLINA GRID:

 

COMMENCE AT A 1/2-INCH REBAR AT THE INTERSECTION
OF THE WESTERLY RIGHT-OF-WAY LINE OF HALL STREET (VARIABLE RIGHT-OF-WAY) WITH THE NORTHERLY RIGHT-OF-WAY LINE OF WOOD STREET (VARIABLE
RIGHT-OF-WAY); THENCE ALONG THE NORTH-NORTHWESTERLY RIGHT-OF-WAY LINE OF SAID WOOD STREET FOR THE FOLLOWING COURSES AND DISTANCES: S62°36’52“W
ALONG SAID NORTHERLY RIGHT-OF-WAY LINE OF WOOD STREET FOR A DISTANCE OF 200.05 FEET TO A 1-INCH IRON PIPE AT THE SOUTHWESTERLY CORNER
OF LANDS NOW OR FORMERLY OWNED BY TABERNACLE OF PARISE FULL GOSPEL CHURCH (DB 12141 PG 112); S62°34’15“W FOR A DISTANCE OF 321.28
FEET TO THE POINT OF BEGINNING OF THE TRACT HEREIN DESCRIBED; THENCE CONTINUE ALONG SAID RIGHT-OF-WAY S62°34’15“W FOR A DISTANCE
OF 150.00 FEET TO A 1/2-INCH ROD; THENCE ALONG THE EASTERLYSOUTHERLY-WESTERLY BOUNDARY OF LANDS NOW OR FORMERLY OWNED BY MEADOWBROOK MHP
(DB 913 PG 208) FOR THE FOLLOWING COURSES AND DISTANCES: N30°31’45“W FOR A DISTANCE OF 120.00 FEET; N62°34’15“E FOR
A DISTANCE OF 150.00 FEET; S30°31’45“E FOR DISTANCE OF 120.00 FEET TO THE POINT OF BEGINNING OF SAID TRACT.

 

SAID TRACT CONTAINING 0.413
ACRES AS DEPICTED ON AN ALTA/NSPS LAND TITLE SURVEY PREPARED BY AEI CONSULTANTS (JOB 408173).

 

EXHIBIT A, Description of Land

21478-3715/Pacific Current Partners – NC & SC MHC FinancingExhibit 10.9

 

PURCHASE
AND SALE AGREEMENT

 

THIS
PURCHASE AND SALE AGREEMENT (this “Agreement”) is made and entered into as of the Effective Date (as defined below)
between the undersigned Seller (as defined below) and the undersigned Buyer (as defined below).

 

		1.	Summary
                                            of Terms and Defined Terms. The following summary of terms and defined terms are
                                            hereby incorporated into this Agreement:

 

	SUMMARY
                                            OF TERMS AND DEFINED TERMS

     

	A.  Seller
    and Seller’s Notice Information:	__Gary
                                            Coffey ________, a ___________________ (“Seller”)

    ______________________

    ______________________

    Attention:
    ______________

    Telephone:
    _____________

    Email:
    _________________ [Personal information redacted]

     

	B.
                                            Buyer and Buyer’s Notice Information:

     
	MHP
                                            Pursuits LLC, a North Carolina limited liability company (“Buyer”)

    136
    Main Street

    Pineville,
    North Carolina 28134

    Attention:
    [Personal information redacted]

    Telephone:

    Email:

	C.
                                            Property Name and Address: 

     
	Idlewild
                                            Acres MHP

    3265
    Idlewild Drive

    Morganton,
    NC 28655

     

	D.
     General Description:  	Manufactured
                                            Home Communities with ~61 home sites located on approximately ____ acres as described on
                                            Exhibit “A” attached hereto (the “Land”) and 50 Park-Owned
                                            Homes (as defined below) as described on Exhibit “C” attached hereto (the
                                            “Homes”);

     

	E.
                                            Property Tax ID Number(s):

     
	REID:
                                            32387 and REID: 33024

     

	F.
                                            Purchase Price:

     
	$2,750,000.00
                                            (the “Purchase Price”)

     

	G.
                                            Closing Date: 

     
	30
                                            days after the last day of the Due Diligence Period or such earlier date as may be agreed
                                            upon by the parties in writing (the “Closing Date”). Closing shall occur
                                            on or before December 31, 2021.

     

	H.
    Title Company; Holder of Earnest Money	Stewart
                                            Title Guaranty Company (“Title Company” or “Holder”)

    5935
    Carnegie Boulevard, Suite 301

    Charlotte,
    North Carolina 28209

     

	I.  Effective
    Date of this Agreement:  	October
                                            20, 2021 (the “Effective Date”), which shall be the later of the dates
                                            that Buyer and Seller have executed this Agreement as set forth below their signatures attached
                                            hereto.

     

	J.
                                            Earnest Money: 

     
	$10,000.00
                                            (the “Earnest Money”)

     

	K.  Due
    Diligence Period: 	Thirty
                                            (30) days after the date that Seller has completed delivery to Buyer of the Due Diligence
                                            Materials (as defined in Exhibit “B” attached hereto) as confirmed in
                                            writing by the parties in accordance with Section 5; then an additional forty-five (45) days
                                            for completion of third-party reports, with the only contingency during this last 45-day
                                            period being the acceptability of completed third party reports (the “Due Diligence
                                            Period”);

     

	L.  Buyer’s
    Broker:	None
                                            (“Buyer’s Broker”)

     

	M.  Seller’s
    Broker:	-Marcus
    & Millichap – Esterson MHC Team (“Seller’s Broker”)

 

	
    Buyer(s) Initials:

    /s/ AM
	
    Seller(s) Initials:

    /s/ GC

 

     

     

    

 

		2.	Purchase
                                            and Sale. Buyer agrees to purchase, and Seller agrees to sell the Property (as defined
                                            in Section 2 below) upon the terms and conditions set forth in this Agreement.

 

		3.	Property.
                                            Upon and subject to the terms and conditions set forth in this Agreement, Seller
                                            shall sell to Buyer, and Buyer shall purchase from Seller, the following property (collectively,
                                            the “Property”):

 

		A.	The
                                            Land, together with any and all rights and interests appurtenant thereto, including, but
                                            not limited to, all rights, title, and interest in and to adjacent streets, alleys, rights-of-way,
                                            and any adjacent strips and gores, water, oil, gas and other mineral rights, and rights-of-way,
                                            privileges, licenses and easements; any award made or to be made as a result of or in lieu
                                            of condemnation affecting the Property or any part thereof, and any award for damage to the
                                            Property or any part thereof by reason of casualty;

 

		B.	All
                                            buildings, structures and improvements in, on, over and under the Land, including, without
                                            limitation, any and all recreational buildings, structures and facilities, plumbing, heating,
                                            ventilating, air conditioning, mechanical, electrical and other utility systems, water and
                                            sewage treatment plants and facilities (including wells and septic systems), parking lots
                                            and facilities, landscaping, roadways, sidewalks, swimming pools, security devices, signs
                                            and light fixtures, which are not owned by campers, guests or tenants (together with the
                                            Land, the “Real Property”);

 

		C.	All
                                            park models, recreational vehicles, furniture, furnishings, fixtures, equipment, machinery,
                                            maintenance vehicles and equipment, tools, parts, recreational equipment, carpeting, window
                                            treatments, office supplies and equipment, and other tangible personal property of every
                                            kind and description situated in, on, over or under the Land or used in connection with the
                                            Property which are not owned by campers, guests, or tenants (collectively, the “Personal
                                            Property”);

 

		D.	Seller’s
                                            interest in and to any intangible personal property, including, without limitation, trademarks
                                            and tradenames, telephone numbers and websites owned by Seller and used in connection with
                                            the Property (collectively, the “Intangible Property”);

 

		E.	Seller’s
                                            interest, as landlord, in and to all leases or other rental or occupancy agreements for the
                                            Property (together with any modifications, extensions or renewals thereof, the “Leases”)
                                            and Seller’s interest in any related security deposits, security interests and prepaid
                                            rents under the Leases;

 

		F.	All
                                            mobile home units owned by Seller or its affiliate entities that are situated on the Land
                                            (collectively, the “Park-Owned Homes”).

 

		G.	All
                                            existing tenant files, Lease files, books and records, promotional and advertising materials,
                                            surveys, blueprints, drawings, plans and specifications (including, without limitation, structural,
                                            HVAC, mechanical and plumbing, water and sewer plans and specifications), construction drawings,
                                            soil tests, environmental reports, appraisals, police reports, and other documentation for
                                            or with respect to the Property or any part thereof within Seller’s possession (collectively,
                                            the “Property Files”);

 

		H.	Seller’s
                                            interest in and to all contracts relating to the use and operation of the Property that Buyer
                                            elects to assume and in effect on the Closing Date, including any parking agreements, equipment
                                            leases, landscape, trash removal or other maintenance contracts (collectively, the “Contracts”).
                                            Without limiting the foregoing, Seller acknowledges and agrees that the Contracts shall exclude
                                            any management or third-party leasing or listing agreements, which shall not be assumed by
                                            Buyer;

 

		I.	Seller’s
                                            interest in and to all warranties and guaranties, if any, applicable to the design or construction
                                            of any buildings, structures or other improvements or any equipment on the Land (collectively,
                                            the “Warranties”); and

 

		J.	Seller’s
                                            interest in and to all governmental licenses, permits and certificates, if any, applicable
                                            to the ownership, use, occupancy, or operation of the Real Property, to the extent transferable
                                            (collectively, the “Licenses”).

 

		4.	Purchase
                                            Price and Method of Payment. The Purchase Price shall be paid in U.S. Dollars at
                                            Closing in cash or its equivalent which shall only include the wire transfer of immediately
                                            available funds, or a cashier’s check issued for the closing by a federally insured bank,
                                            savings bank, savings and loan association or credit union where the funds are immediately
                                            available.

 

	
    Buyer(s) Initials:

    /s/ AM
	
    Seller(s) Initials:

    /s/ GC

 

    2

     

    

 

		5.	Due
                                            Diligence. Buyer has paid Seller the sum of $25.00, the receipt of which is hereby
                                            acknowledged by Seller, as option money for Buyer having the right to terminate this Agreement
                                            during the Due Diligence Period. Within ten (10) days after the Effective Date, Seller shall
                                            deliver to Buyer the Due Diligence Materials to the extent within Seller’s possession.
                                            Upon the completion of Seller’s delivery to Buyer of all such Due Diligence Materials,
                                            Buyer and Seller shall agree in writing (which may be via e-mail) as to such date of completion
                                            of delivery, which shall be the date of commencement of the Due Diligence Period. Prior to
                                            Closing, Buyer and Buyer’s representatives and agents shall have the right to enter upon
                                            Property at Buyer’s expense, and at reasonable times, to inspect, survey, examine, and test
                                            the Property as Buyer may deem necessary as part of Buyer’s acquisition of the Property.
                                            Seller shall allow Buyer and its representatives and agents access to, or shall provide documents
                                            for review, whichever the case may be, with respect to the Property at all reasonable times
                                            and shall cooperate with Buyer’s efforts to conduct the inspections permitted herein.
                                            Seller agrees to cooperate in introducing Buyer to vendors, staff and other parties who have
                                            experience with the Property’s ongoing operations. Buyer shall indemnify and hold Seller
                                            harmless from and against any and all claims, injuries and damages to persons and/or property
                                            arising out of or resulting from the exercise of Buyer’s inspection rights; provided,
                                            however, Buyer’s indemnity obligations shall not extend to any claims, injuries or
                                            damages resulting from or relating to (i) any action of Seller or its agents or representatives
                                            or (ii) any existing environmental contamination or other conditions with respect to the
                                            Property that may be discovered by Buyer as the result of its investigations. During the
                                            Due Diligence Period, Buyer may evaluate the Property, the feasibility of the transaction,
                                            the availability and cost of financing, and any other matters of concern to Buyer. Buyer
                                            shall have the right to terminate this Agreement by delivering notice to Seller at or before
                                            11:59 p.m. Eastern time on the last day of the Due Diligence Period, if Buyer determines,
                                            for any reason or no reason, that it is not desirable to proceed with the transaction. In
                                            such event, Holder shall promptly refund the Earnest Money to Buyer, and neither party shall
                                            have any further obligations or liability under this Agreement except as expressly provided
                                            in this Agreement.

 

		6.	Earnest
                                            Money. Buyer shall deposit the Earnest Money with Holder within ten (10) days after
                                            the commencement of the Due Diligence Period, to be held in escrow and to be applied to the
                                            Purchase Price at Closing, or refunded to Buyer if Buyer terminates this Agreement in accordance
                                            with the terms hereof. If Buyer defaults in its obligation to close and pay the Purchase
                                            Price, Seller shall be entitled to receive the Earnest Money as liquidated damages.

 

		7.	Seller’s
                                            Pre-Closing Covenants; Conditions to Closing.

 

		A.	Seller’s
                                            Pre-Closing Covenants. Seller agrees as follows with respect to the period from the Effective
                                            Date until the Closing Date:

 

		1.	Seller
                                            shall not commit or permit waste upon the Property.

		2.	Seller
                                            shall not, directly, or indirectly, solicit or entertain offers from, negotiate with or in
                                            any manner encourage, discuss, accept, or consider any proposal of any person, other than
                                            Buyer, relating to the acquisition of the Property from Seller, in whole or in part.

		3.	Seller
                                            will not engage in any practice, take any action, or enter any transaction outside the ordinary
                                            course of business with respect to the Property. Without limiting the generality of the foregoing,
                                            Seller shall not:

		a.	Sell,
                                            lease, transfer or otherwise dispose of, or mortgage or pledge, or impose or suffer to be
                                            imposed any lien on, any of the Property, except in the ordinary course of business consistent
                                            with past practice;

		b.	Cancel
                                            any debts owed to or claims held by Seller (including the settlement of any claims or litigation)
                                            or incur additional debt for borrowed money, or incur any obligation or liability (fixed,
                                            contingent, or otherwise), in each case, other than in the ordinary course of business consistent
                                            with past practice;

		c.	Delay
                                            or accelerate payment of any account payable or other liability of the business related to
                                            the Property beyond or in advance of its due date or the date when such liability would have
                                            been paid in the ordinary course of business consistent with past practice;

		4.	Seller
                                            shall not enter any Contract pertaining to the Property which cannot be terminated at or
                                            prior to Closing. Except for any Contract that Buyer expressly elects to assume at Closing,
                                            Seller shall be responsible for terminating all Contracts as of the Closing Date, including
                                            the payment of any early termination fees or other charges in connection with such termination.

		5.	Seller
                                            shall cooperate with Buyer in obtaining all permits and licenses required by all applicable
                                            governmental authorities to operate the Property as a mobile home park.

		6.	Seller
                                            will not apply for or agree to any change in the zoning or the assessed value or other tax
                                            treatment of the Property.

 

		B.	Conditions
                                            for the Benefit of Buyer: The obligation of Buyer to consummate the transaction contemplated
                                            herein is conditioned upon the satisfaction of the following conditions precedent as of the
                                            Closing Date:

 

		1.	All
                                            representations and warranties of Seller made herein shall remain true and correct;

		2.	Seller
                                            shall have performed all covenants undertaken by Seller in this Agreement to be performed
                                            by Seller at or prior to Closing;

		3.	There
                                            shall have been no material adverse change in the physical condition of Property, except
                                            as may otherwise be expressly provided for under this Agreement;

		4.	The
                                            Title Company shall issue to Buyer (and Buyer’s lender, as applicable) a title insurance
                                            policy (or a marked binder therefor) with all standard exceptions deleted and subject only
                                            to the Permitted Exceptions; and

		5.	All
                                            utilities necessary to serve the Property for its use as a mobile home park shall exist and
                                            be available within public rights-of-way (or via private easements) and no governmental moratorium
                                            or service restriction shall exist that would prevent Buyer from using the Property as a
                                            mobile home park.

 

	
    Buyer(s) Initials:

    /s/ AM
	
    Seller(s) Initials:

    /s/ GC

 

    3

     

    

 

		C.	Conditions
                                            for the Benefit of Seller: The obligation of Seller to consummate the transaction contemplated
                                            herein is conditioned upon the satisfaction of the following conditions precedent as of the
                                            Closing Date:

 

		1.	All
                                            representations and warranties of Buyer made herein shall remain true and correct; and

 

		2.	Buyer
                                            shall have performed all covenants undertaken by Buyer in this Agreement to be performed
                                            by Buyer at or prior to Closing.

 

		8.	Obligations
                                            at Closing:

 

		A.	Seller’s
                                            Obligations at Closing. At Closing, Seller shall deliver to Buyer (or to the Title Company
                                            acting as the closing escrow agent) executed originals of the following documents (“Seller’s
                                            Closing Documents”):

 

		1.	Special
                                            Warranty Deed (or equivalent limited warranty deed) conveying title to the Property subject
                                            only to the Permitted Exceptions (as defined below);

 

		2.	If
                                            requested by Buyer, a non-warranty deed conveying the Property using the legal description
                                            from Buyer’s current survey of the Property, if applicable;

 

		3.	Bill
                                            of Sale and General Assignment transferring Seller’s right, title and interest in the
                                            Personal Property, the Intangible Property, the Property Files, the Warranties, and the Licenses
                                            to Buyer, which shall include a warranty that Seller has not transferred, assigned or pledged
                                            such items to any other party (except in connection with any loan that will be paid in full
                                            by Seller at or prior to Closing);

 

		4.	An
                                            Assignment and Assumption Agreement whereby Seller assigns all its right, title and interest
                                            in the Leases and any Contracts that Buyer elects to assume, and Buyer accepts and assumes
                                            Seller’s obligations under the Leases and any such Contracts from and after the Closing
                                            Date (together with all originals of the Leases and such Contracts that are within Seller’s
                                            possession);

 

		5.	FIRPTA
                                            Affidavit (indicating that Seller is not a “foreign person” as that term is defined
                                            in Section 1445 of the Internal Revenue Code of 1986);

 

		6.	A
                                            certification for Form 1099-S, a Form W-9 and such other documents as may reasonably be requested
                                            by Buyer or the Title Company;

 

		7.	A
                                            “bring-down” certificate reaffirming that Seller’s representations and
                                            warranties in this Agreement are true and correct as of the Closing Date;

 

		8.	Closing
                                            Statement reflecting the Purchase Price and the prorations and adjustments provided herein;

 

		9.	All
                                            certificates of title and other documents for the transfer of title to the Park-Owned Homes
                                            as more particularly set forth in Section 19 hereof;

 

		10.	All
                                            other documents that Seller must execute to cause the Title Company to issue to Buyer (and
                                            Buyer’s lender, as applicable) a title insurance policy with all standard exceptions
                                            deleted and subject only to the Permitted Exceptions (including, without limitation, an owner’s
                                            affidavit from Seller in the form customarily used in commercial real estate transactions);
                                            and

 

		11.	Evidence
                                            reasonably satisfactory to the Title Company of Seller’s valid existence and good standing
                                            and due and proper authorization and power to perform its obligations hereunder.

 

		B.	Buyer’s
                                            Obligations at Closing. At Closing, Buyer shall deliver to Seller (or to the Title Company
                                            acting as the closing escrow agent) the balance of the Purchase Price subject to the adjustments
                                            and prorations set forth in this Agreement, together with counterpart executed originals
                                            of any Seller’s Closing Documents that may require Buyer’s signature, as applicable.

 

		9.	Costs.

 

		A.	Seller’s
                                            Costs: Seller shall pay (i) all transfer taxes with respect to the Property; (ii) the
                                            cost of recording the deed for the Property and any title curative document, including any
                                            satisfaction or release of any mortgage, deed of trust or other lien and any financing statement
                                            termination; (iii) the fees and expenses of Seller’s counsel and consultants; (iv) the base
                                            premium for the owner’s policy of title insurance to be issued to Buyer at Closing;
                                            and (v) one-half (1/2) of any escrow fees or closing disbursement fees charged by the Title
                                            Company.

 

		B.	Buyer’s
                                            Costs: Buyer shall pay (i) the fees and expenses of Buyer’s counsel and consultants;
                                            (ii) any costs in connection with Buyer’s inspection, title examination and survey of Property
                                            and any costs associated with obtaining financing for the acquisition of Property (including
                                            any mortgage tax and the cost of recording Buyer’s loan documents); (iii) except for the
                                            base premium for Buyer’s owner’s policy of title insurance, any costs of owner’s
                                            or lender’s title insurance for Buyer or its lender; and (iv) one-half (1/2) of any escrow
                                            fees or closing disbursement fees charged by the Title Company.

 

	
    Buyer(s) Initials:

    /s/ AM
	
    Seller(s) Initials:

    /s/ GC

 

    4

     

    

 

		10.	Closing
                                            Prorations and Credits.

 

		A.	Ad
                                            valorem property taxes and any other governmental fees and assessments, property owner association
                                            fees and assessments, and any utility bills for which service cannot be terminated as of
                                            the Closing Date, together with rents and any other items of income and expense for the Property
                                            for the calendar year (or for any other applicable time period) in which the Closing takes
                                            place shall be prorated as of the Closing Date. In the event ad valorem property taxes are
                                            based upon an estimated tax bill or a tax bill under appeal, Buyer and Seller shall, upon
                                            the issuance of the actual tax bill or the appeal being resolved, promptly make such financial
                                            adjustments between themselves as are necessary to correctly prorate such taxes. Any pending
                                            tax appeal shall be deemed assigned to Buyer at closing.

 

		B.	All
                                            rents and prepaid rents and other recurring operating income and prepaid income (including,
                                            without limitation, any cable television or other utility or entertainment carrier or provider
                                            income or door fees or future payment rights and any utility costs attributable to the period
                                            prior to the Closing Date that have been passed on to and are payable by a tenant) with respect
                                            to the Property shall be prorated as of the Closing Date and those rents and income attributable
                                            to the period prior to the Closing Date shall be allocated to Seller and those rents and
                                            income attributable to the period on and after the Closing Date shall be allocated to Buyer.
                                            All rents payable for the month of Closing (including any such rents that are unpaid as of
                                            the Closing Date) shall be prorated as of the Closing Date and Buyer shall receive a credit
                                            against the Purchase Price for Buyer’s prorated share of such rents; provided, if Buyer
                                            subsequently receives any such rents that were unpaid as of the Closing Date and were prorated
                                            for the month of Closing, Buyer shall deliver such rents to Seller. All rents that are thirty
                                            (30) days or more delinquent shall not be prorated, and any such delinquent rents collected
                                            after Closing shall be payable to Buyer. All payments or prepayments of rents or other income
                                            or compensation attributable to the Property for the period subsequent to Closing collected
                                            or received or retained by Seller will be delivered to Buyer or credited against the Purchase
                                            Price.

 

		C.	Effective
                                            as of the Closing Date, Buyer will assume all liabilities of Seller for security deposits
                                            under the Leases, and such security deposits shall be a credit against the Purchase Price.

 

		D.	Buyer’s
                                            and Seller’s obligations under this Section 10 to make any adjustments to prorations
                                            or to deliver any rents or income to each other, as applicable, shall survive the Closing.

 

		11.	Title.

 

		A.	Warranties
of Seller. Seller warrants to Buyer that at Closing, Seller shall convey good and marketable fee simple title to the Property to
Buyer, subject only to the following exceptions (the “Permitted Exceptions”):

 

		1.	The
                                            lien of ad valorem taxes that are not yet due and payable; and

 

		2.	The
                                            title exceptions appearing in Buyer’s title commitment for the Property (as last revised
                                            by the Title Company) for which Buyer does not make or waives any Title Objection (as defined
                                            below) or any Additional Title Objection (as defined below) in accordance with this Agreement.

 

For
the avoidance of doubt, the Permitted Exceptions shall exclude the following matters (regardless of whether Buyer makes any Title Objection
or Additional Title Objection with respect to such matters) (collectively, the “Mandatory Cure Items”): (i) any existing
deeds of trust, mortgages, liens or other monetary encumbrances affecting the Property; (ii) delinquent taxes or assessments; (iii) unrecorded
leases or possessory rights, except as set forth in the current rent roll for the Property; and (iv) liens or potential lien rights for
any contractors, materialmen or brokers.

 

		B.	Title
                                            Objections.

 

		1.	Prior
                                            to the expiration of the Due Diligence Period, Buyer may obtain a title insurance commitment
                                            and a current survey of the Property, and Buyer may notify Seller of any objections to title
                                            or survey matters affecting the Property (“Title Objections”). Seller
                                            may elect, by written notice to Buyer, to remove or cure any such Title Objection at or prior
                                            to Closing (a “Cure Item”). If Seller does not agree in writing to remove
                                            or cure any Title Objection within five (5) days after Buyer’s delivery of such Title
                                            Objection, then Seller shall be deemed to have elected not to remove or cure such Title Objection,
                                            and any time thereafter Buyer may elect to (i) terminate this Agreement by delivering written
                                            notice thereof to Seller, in which event Holder shall promptly refund the Earnest Money to
                                            Buyer, and neither party shall have any further obligations or liability under this Agreement
                                            except as expressly provided in this Agreement or (ii) waive such Title Objection and proceed
                                            to Closing. Notwithstanding the foregoing or any other provision herein to the contrary,
                                            Seller shall be required to satisfy or cure any Mandatory Cure Items at or prior to Closing,
                                            regardless of whether Buyer objects to the same, and any such Mandatory Cure Items shall
                                            be deemed Cure Items.

 

 

	
    Buyer(s) Initials:

    /s/ AM
	
    Seller(s) Initials:

    /s/ GC

 

    5

     

    

 

		2.	Buyer
                                            shall have the right to update the title commitment and survey for the Property after the
                                            expiration of the Due Diligence Period and prior to Closing. If any such title commitment
                                            update or survey update reveals any additional title or survey matters affecting the Property
                                            which were not previously disclosed in Buyer’s title commitment or survey, then Buyer
                                            may notify Seller of any objections to any such additional title or survey matters (“Additional
                                            Title Objections”) notwithstanding the expiration of the Due Diligence Period.
                                            Seller may elect, by written notice to Buyer, to remove or cure any such Additional Title
                                            Objection at or prior to Closing (an “Additional Cure Item”). If Seller
                                            does not agree in writing to remove or cure any Additional Title Objection within five (5)
                                            days after Buyer’s delivery of such Additional Title Objection, then Seller shall be
                                            deemed to have elected not to remove or cure such Additional Title Objection, and any time
                                            thereafter Buyer may elect to (i) terminate this Agreement by delivering written notice thereof
                                            to Seller, in which event Holder shall promptly refund the Earnest Money to Buyer, and neither
                                            party shall have any further obligations or liability under this Agreement except as expressly
                                            provided in this Agreement or (ii) waive such Additional Title Objection and proceed to Closing.
                                            Notwithstanding the foregoing or any other provision herein to the contrary, Seller shall
                                            be required to remove or cure any Additional Title Objection relating to any title or survey
                                            matter that first affects the Property or that first appears in the public record after the
                                            Effective Date, and any such title or survey matter shall be deemed an Additional Cure Item.

 

		3.	Seller
                                            shall have until the Closing to cure or satisfy all Cure Items and Additional Cure Items,
                                            as applicable. If Seller fails to cure any Cure Item or Additional Cure Item, as applicable,
                                            at or prior to Closing (and fails to provide Buyer with evidence of Seller’s cure satisfactory
                                            to Buyer and to the Title Company), then Buyer may elect in its sole discretion by delivering
                                            written notice to Seller: (1) to exercise Buyer’s remedies under Section 17.B with
                                            respect to such failure by Seller, which shall be deemed a default by Seller under this Agreement;
                                            (2) to waive such failure and proceed to Closing; or (3) to extend the Closing Date up to
                                            thirty (30) days as determined by Buyer to allow Seller further time to cure such Cure Item
                                            or Additional Cure Item, as applicable.

 

		12.	Casualty
                                            Prior to Closing. If the Property is damaged or destroyed by fire or other casualty
                                            prior to Closing, Seller shall give Buyer prompt notice thereof, which notice shall include
                                            Seller’s reasonable estimate of: (1) the cost to restore and repair the damage; (2)
                                            the amount of insurance proceeds, if any, available for the same; and (3) whether the damage
                                            can be repaired prior to Closing. Within ten (10) days after receiving any such notice from
                                            Seller, Buyer may terminate this Agreement by delivering written notice to Seller of such
                                            termination. In such event, Holder shall promptly refund the Earnest Money to Buyer, and
                                            neither party shall have any further obligations or liability under this Agreement except
                                            as expressly provided in this Agreement. If Buyer does not terminate this Agreement within
                                            such ten (10) day period, Seller shall promptly make any agreed-upon repairs and replacements
                                            in a good and workmanlike manner prior to Closing, and Buyer shall be deemed to have accepted
                                            Property with the damage (subject to any such agreed-upon repairs by Seller) and shall receive
                                            at Closing: (1) a credit against the Purchase Price for any insurance proceeds which have
                                            been paid to Seller but have not been spent on any agreed-upon repairs; (2) an assignment
                                            of Seller’s claim for all unpaid insurance proceeds; and (3) a credit against the Purchase
                                            Price for any unpaid deductible that may be required in connection with any such unpaid insurance
                                            proceeds.

 

		13.	Representations
                                            and Warranties.

 

		A.	Seller’s
                                            Representations and Warranties: Seller represents and warrants to Buyer as follows:

 

		1.	Seller
                                            has full authority to sign this Agreement and all documents to be executed by Seller as contemplated
                                            by this Agreement. The individual(s) executing this Agreement and all such documents contemplated
                                            by this Agreement on behalf of Seller are duly elected or appointed and validly authorized
                                            to execute and deliver the same.

 

		2.	This
                                            Agreement constitutes a legal, valid, and binding obligation of Seller and, together with
                                            each of the documents to be executed by Seller as contemplated by this Agreement, is enforceable
                                            against Seller in accordance with its terms.

 

		3.	Seller
                                            is duly formed, validly existing and in good standing under the laws of the state of its
                                            formation and is qualified to transact business in the state where the Property is located.

 

		4.	Seller’s
                                            execution and delivery of this Agreement and Seller’s performance of its obligations
                                            in accordance with this Agreement will not constitute a violation, breach, or default, nor
                                            result in the imposition of any lien or encumbrance upon the Property, under any agreement
                                            or other instrument to which Seller is a party or by which Seller or the Property is bound.

 

		5.	Seller
                                            owns good and marketable fee simple title to the Property that is insurable, subject only
                                            to the Permitted Exceptions.

 

		6.	Seller
                                            has not received notice of any legal actions, suits or other legal or administrative proceedings
                                            pending or threatened against Seller or the Property, and Seller is not aware of any facts
                                            which might result in any such action, suit, or other proceeding.

 

		7.	To
                                            Seller’s knowledge, the Property does not contain any hazardous wastes, hazardous substances,
                                            hazardous materials, toxic substances, hazardous air pollutants or toxic pollutants as those
                                            terms are used in the Resource Conservation and Recovery Act, the Comprehensive Environmental
                                            Response, Compensation and Liability Act, the Hazardous Materials Transportation Act, the
                                            Toxic Substances Control Act, the Clean Air Act and the Clean Water Act, and in any amendments
                                            thereto, or in any regulations promulgated pursuant thereto, or in any applicable state or
                                            local law, regulation or ordinance.

 

	
    Buyer(s) Initials:

    /s/ AM
	
    Seller(s) Initials:

    /s/ GC

 

    6

     

    

 

		8.	Seller
                                            has no knowledge of (i) any condemnation or zoning change affecting or contemplated with
                                            respect to the Property; (ii) any changes contemplated in any applicable laws, ordinances
                                            or restrictions affecting the use of the Property as a mobile home park; or (iii) any liens
                                            or assessments (governmental or private), either pending or confirmed, with respect to sidewalk,
                                            paving, water, sewer, drainage or other improvements on or adjoining the Property or with
                                            respect to any property owners’ association, declaration or easement agreement (other
                                            than the lien of ad valorem property taxes that are not yet due and payable).

 

		9.	To
                                            Seller’s knowledge, Seller and the Property have complied and are currently in compliance
                                            with all applicable laws, ordinances, regulations, statutes, rules, restrictions, and inspection
                                            requirements pertaining to or affecting the Property.

 

		10.	There
                                            are no Contracts for the Property which are, or will be, a binding obligation of Buyer or
                                            that could create a lien, leasehold or other possessory interest, security interest, or encumbrance
                                            in or against the Property or any part thereof after the Closing, and Seller will deliver
                                            to Buyer true, correct, and complete copies and originals of all Contracts as part of the
                                            Property Files in accordance with this Agreement. To Seller’s knowledge, each Contract
                                            is in full force and effect and there are no defaults or events that with notice or lapse
                                            of time or both which constitute a default by Seller or any other party to such Contracts.

 

		11.	There
                                            are no Leases other than as provided to Buyer in the Property Files, and Seller will deliver
                                            to Buyer true, correct, and complete copies and originals thereof in accordance with this
                                            Agreement. To Seller’s knowledge, each Lease is in full force and effect and there
                                            are no defaults or events that with notice or lapse of time or both which constitute a default
                                            by Seller or the tenant under such Leases. Except as expressly provided in the Leases, there
                                            are no tenant finish costs, brokerage commissions or other leasing costs paid or payable
                                            in connection with any Lease or renewal or expansion thereof.

 

		12.	The
                                            Due Diligence Materials delivered by Seller to Buyer in accordance with this Agreement are
                                            full, complete, and accurate copies of all Due Diligence Materials within Seller’s
                                            possession.

 

		B.	Buyer’s
                                            Representations and Warranties: Buyer represents and warrants to Seller as follows:

 

		1.	Buyer
                                            has full authority to sign this Agreement and all documents to be executed by Buyer as contemplated
                                            by this Agreement. The individual(s) executing this Agreement and all such documents contemplated
                                            by this Agreement on behalf of Buyer are duly elected or appointed and validly authorized
                                            to execute and deliver the same.

 

		2.	This
                                            Agreement constitutes a legal, valid, and binding obligation of Buyer and, together with
                                            each of the documents to be executed by Buyer as contemplated by this Agreement, is enforceable
                                            against Buyer in accordance with its terms.

 

		C.	Survival
                                            Period. Seller and Buyer agree to promptly notify the other party if, prior to Closing,
                                            Seller or Buyer learns that any of its representations or warranties in this Agreement is
                                            no longer true or correct in any material respect. Seller’s and Buyer’s representations
                                            and warranties in this Section 13 shall be true and correct as of the Effective Date, and
                                            shall be deemed true and correct as of the Closing Date as if remade by separate certification
                                            at that time, and shall survive the Closing for a period of one (1) year after the Closing
                                            Date (the “Survival Period”). If Buyer or Seller provides written notice
                                            to the other party asserting a breach of any such representation or warranty on or before
                                            termination of the Survival Period, then such representation or warranty shall not terminate
                                            with respect to the matters described in such written notice until such matters are fully
                                            and finally resolved by negotiation, settlement, litigation, or other appropriate proceedings.

 

		14.	Brokerage.
                                            Buyer and Seller represent and warrant to each other that there are no brokers involved
                                            in this transaction except for the Buyer’s Broker (if any) and the Seller’s Broker
                                            (if any) listed in Section 1 of this Agreement. Buyer shall defend, indemnify, and hold Seller
                                            harmless from all claims asserted by any other broker or sales agent because of Buyer’s
                                            actions in connection with this Agreement. Seller shall defend, indemnify, and hold Buyer
                                            harmless from and against all claims asserted by any other broker or sales agent because
                                            of Seller’s actions in connection with this Agreement. These indemnities shall survive
                                            the Closing or the termination of this Agreement.

 

		15.	Assignment.
                                            Buyer may transfer or assign any or all its rights and obligations under this
                                            Agreement at any time.

 

		16.	Notices.

 

		A.	All
                                            Notices Must Be in Writing. All notices required or permitted under this Agreement, including
                                            but not limited to amendments, demands, notices of termination and other notices, shall be
                                            in writing. A party’s legal counsel may deliver any notice on behalf of such party.

 

		B.	Method
                                            of Delivery of Notice. Subject to limitations and conditions set forth herein, notices
                                            may only be delivered: (1) in person; (2) by an overnight delivery service; (3) by e-mail;
                                            or (4) by registered or certified U.S. mail, prepaid, return receipt requested.

 

		C.	When
                                            Notice Is Received. Except as may be provided herein, a notice shall not be deemed to
                                            be given, delivered, or received until it is received by the party to whom the notice was
                                            intended or that person’s authorized agent. Notwithstanding the above, (i) any notice
                                            deposited with a national overnight delivery service (e.g., FedEx or UPS) shall be
                                            deemed received one (1) business day after such notice is deposited with such overnight delivery
                                            service and (ii) if the sender of a notice by e-mail receives an automatic reply indicating
                                            that the e-mail has been opened, the e-mail notice shall be deemed received at that time.

 

	
    Buyer(s) Initials:

    /s/ AM
	
    Seller(s) Initials:

    /s/ GC

 

    7

     

    

 

		D.	Address
                                            or E-Mail for Receiving Notices: Notices to a party to this Agreement shall only be effective
                                            if sent to the e-mail address and/or physical address of such party listed in Section 1 of
                                            this Agreement or subsequently provided by such party to the other party hereto in accordance
                                            with the notice provisions herein.

 

		17.	Default.

 

		A.	Seller’s
                                            Pre-Closing Remedy for Buyer Default. If Buyer defaults in its obligation to close and
                                            pay the Purchase Price in accordance with this Agreement, Seller shall be entitled, as its
                                            sole and exclusive remedy, to terminate this Agreement and retain the Earnest Money as liquidated
                                            damages, in which event the parties shall have no further rights or obligations under this
                                            Agreement (except as expressly provided herein with respect to any obligations which are
                                            intended to survive the termination of this Agreement). Buyer and Seller agree that, due
                                            to the nature of this transaction, it would be impracticable and extremely difficult to fix
                                            the actual damages Seller would sustain should Buyer default in its obligation to purchase
                                            the Property. Buyer and Seller agree that liquidated damages are appropriate for this transaction
                                            and agree that the Earnest Money represents a reasonable estimate of the damages Seller would
                                            sustain by virtue of Buyer’s failure to perform its obligation to purchase the Property.

 

		B.	Buyer’s
                                            Pre-Closing Remedies for Seller Default. If Seller breaches any representation or warranty
                                            under this Agreement or fails to perform any of its obligations under this Agreement, Buyer
                                            shall be entitled, as its sole and exclusive remedy prior to Closing, either (a) to terminate
                                            this Agreement and receive a refund of the Earnest Money Deposit, and Seller shall reimburse
                                            Buyer an amount equal to the out-of-pocket costs incurred by Buyer in connection with the
                                            transaction contemplated by this Agreement, which reimbursement obligation of Seller shall
                                            survive the termination of this Agreement, or (b) to enforce specific performance of Seller’s
                                            obligations under this Agreement. Notwithstanding the foregoing, if, because of any intentional
                                            or willful default by Seller, the remedy of specific performance is not available to Buyer,
                                            then Buyer shall have the right to pursue all remedies available at law or in equity with
                                            respect to such intentional or willful default by Seller.

 

		C.	Post-Closing
                                            Remedies for Default. If, after the Closing, Seller or Buyer fails to perform any of
                                            its obligations which expressly survive the Closing, or if either party discovers a breach
                                            of a representation or warranty during the Survival Period, then Seller or Buyer may exercise
                                            any remedies available to it at law or in equity, including specific performance or an action
                                            for damages.

 

		D.	Notice
                                            and Cure. Notwithstanding any other provision of this Agreement to the contrary, no breach,
                                            failure or default by Buyer or Seller (as applicable, the “Defaulting Party”)
                                            shall result in the exercise of any rights or remedies with respect to such breach, failure
                                            or default, unless and until the Defaulting Party shall be notified in writing by a document
                                            from the other party entitled “Notice of Default” (including reasonable specifics
                                            about the breach, failure or default), and the Defaulting Party shall have failed to cure
                                            the specified breach, failure or default within ten (10) days after receipt of such written
                                            notice.

 

		18.	Other
                                            Provisions.

 

		A.	Entire
                                            Agreement and Modification: This Agreement constitutes the sole and entire agreement
                                            between the parties hereto, supersedes all their prior written and verbal agreements and
                                            shall be binding upon the parties and their successors, heirs, and permitted assigns. This
                                            Agreement may not be amended or modified except upon the written agreement of Buyer and Seller.

 

		B.	Governing
                                            Law and Interpretation: This Agreement may be signed in multiple counterparts each of
                                            which shall be deemed to be an original. No provision herein, by virtue of the party who
                                            drafted it, shall be interpreted less favorably against one party than another. All references
                                            to time shall mean Eastern Time. The governing law shall be those of the state in which the
                                            Property is located.

 

		C.	Time
                                            of Essence: Time is of the essence with respect to this Agreement.

 

		D.	Determination
                                            of Time Periods. In calculating any period provided for in this Agreement, unless otherwise
                                            expressly provided herein, the number of days shall refer to calendar days and not business
                                            days. If any day scheduled for performance of any obligation or the last day of any other
                                            period falls on a weekend or holiday observed by national banks or banks in the state where
                                            the Property is located, the day for performance shall be extended to the next business day.

 

		E.	Terminology:
                                            As the context may require in this Agreement: (1) the singular shall mean the plural and
                                            vice versa; and (2) all pronouns shall mean and include the person, entity, firm, or corporation
                                            to which they relate.

 

		F.	Duty
                                            to Cooperate: Seller and Buyer agree to do all things reasonably necessary and in good
                                            faith before and after Closing (including executing and delivering such additional documents
                                            as required by law or as reasonably requested by the other party) to fulfill the terms of
                                            this Agreement and carry out the intent and purpose of the parties as set forth in this Agreement.

 

	
    Buyer(s) Initials:

    /s/ AM
	
    Seller(s) Initials:

    /s/ GC

 

    8

     

    

 

		G.	Electronic
                                            Signatures: For all purposes herein, an electronic or facsimile signature shall be deemed
                                            the same as an original signature; provided, however, that each party agrees to promptly
                                            re-execute a conformed copy of this Agreement with original signatures if requested to do
                                            so by the other party.

 

		H.	Tax
                                            Deferred Exchange. Upon the request of either party, the parties agree to execute and
                                            deliver all documents and perform such acts as are reasonably necessary to enable the transactions
                                            contemplated by this Agreement to qualify as a like kind exchange of real property under
                                            Section 1031 of the Internal Revenue Code of 1986 (an “Exchange”). The
                                            requesting party shall bear all additional expenses incurred by the non-exchanging party
                                            arising out of the Exchange which would not otherwise have been attendant to this transaction,
                                            and the non-exchanging party shall not be required to incur any additional cost or liability
                                            in connection with such Exchange. Closing shall not be delayed because of any such Exchange.
                                            If the requesting party is unsuccessful in its efforts to structure this transaction as an
                                            Exchange, such occurrence shall not be deemed or construed as the failure of a condition
                                            precedent to that party’s obligations under this Agreement and Closing shall proceed
                                            without the intended Exchange.

 

		I.	Attorneys’
                                            Fees. In the event suit is brought to enforce or interpret all or any part of this Agreement,
                                            or if suit is brought for any other relief permitted hereunder, the prevailing party in such
                                            suit shall be entitled to recover reasonably attorneys’ fees and costs incurred in
                                            connection with such suit to the fullest extent permitted by applicable law.

 

		19.	Title
                                            to Park-Owned Homes. Seller will use best efforts to obtain certificates of title
                                            to all Park-Owned Homes prior to Closing. Seller will convey ownership to Buyer of all Park-Owned
                                            Homes by delivery of the certificates of title or a bill of sale or both, together with any
                                            DMV forms, powers of attorney or other documentation that may be reasonably necessary to
                                            transfer title to such Park-Owned Homes. For each Park-Owned Home for which Seller is unable
                                            to provide a certificate of title at Closing, a portion of Seller’s proceeds at Closing
                                            equal to the amount of $2,000.00 (each, a “Park-Owned Home Offset”) shall
                                            be retained by Holder and shall not be disbursed to Seller at Closing. Each Park-Owned Home
                                            Offset shall be held by Holder until the earlier of (a) six (6) months after the Closing
                                            Date or (b) the date on which Seller provides evidence satisfactory to Buyer, in Buyer’s
                                            sole discretion, that title to the applicable Park-Owned Home has been transferred to Buyer
                                            (each, a “Park-Owned Home Contingency”). If a Park-Owned Home Contingency
                                            is satisfied by the date that is six (6) months (6) after the Closing Date, the related Park-Owned
                                            Home Offset shall be delivered by Holder to Seller. If a Park-Owned Home Contingency is not
                                            satisfied by the date that is six (6) months after the Closing Date, the related Park-Owned
                                            Home Offset shall be delivered by Holder to Buyer.

 

		20.	Exhibits
                                            and Addenda. All exhibits and/or addenda attached hereto, listed below, or referenced
                                            herein are made a part of this Agreement. If any such exhibit or addendum conflicts with
                                            any preceding paragraph, said exhibit or addendum shall control:

 

Exhibit
“A” Description of Property

Exhibit
“B” Due Diligence Materials and Special Provisions

Exhibit
“C” List of Park-Owned Homes

 

[SIGNATURES
INCLUDED ON FOLLOWING PAGE]

 

	
    Buyer(s) Initials:

    /s/ AM
	
    Seller(s) Initials:

    /s/ GC

 

    9

     

    

 

IN
WITNESS WHEREOF, Buyer and Seller have executed this Agreement as of the Effective Date.

 

BUYER:

 

	MHP PURSUITS LLC,	 
	a North Carolina limited liability company	 
	 	 	 
	By:  	/s/ Adam Martin	 
	Name:	Adam Martin	 
	Title:	CIO	 
	 	 	 
	Date:	10/20/2021	 
	 	 	 
	MHP PURSUITS LLC,	 
	a North Carolina limited liability company	 
	 	 	 
	By:	/s/ Adam Martin	 
	Name:  	Adam Martin	 
	Title:	CIO	 
	 	 	 
	Date:	10/20/20021	 
	 	 	 
	SELLER:	 
	 	 	 
	Insert Seller Name:	 
	 	 	 
	Gary Coffey	 
	 	 	 
	By:	/s/ Gary Coffey	 
	Name:	Gary Coffey	 
	Title:	Owner	 
	 	 	 
	Date:	10/20/2021	 

  

	
    Buyer(s) Initials:

    /s/ AM
	
    Seller(s) Initials:

    /s/ GC

 

    10

     

    

 

EXHIBIT
A

 

DESCRIPTION
OF PROPERTY(S)

 

 

 

 

	
    Buyer(s) Initials:

    /s/ AM
	
    Seller(s) Initials:

    /s/ GC

 

    11

     

    

 

 

 

 

	
    Buyer(s) Initials:

    /s/ AM
	
    Seller(s) Initials:

    /s/ GC

 

 

12

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