Document:

Renewal Commercial Promissory Note

 Exhibit 10.2 
 RENEWAL COMMERCIAL PROMISSORY NOTE 
  

			
	 $1,256,000.00
  
	  	 Effective Date: June 1, 2011

 

  
 Borrower’s
Promise to Pay 
 For value received, the undersigned, DEER VALLEY HOMEBUILDERS, INC., an Alabama corporation
authorized to do business in the State of Florida (the “Borrower”) promises to pay to the order of FIFTH THIRD BANK, an Ohio banking corporation (the “Lender”), the principal sum of ONE MILLION TWO HUNDRED FIFTY-SIX
THOUSAND DOLLARS ($1,256,000.00), together with interest on the principal balance remaining unpaid from time to time at the rates set forth below. This Note renews and supersedes in its entirety that certain Commercial Promissory Note dated
effective May 26, 2006, in the original principal amount of $2,000,000.00, having a current principal balance of $1,256,000.00. 

1. Term. The term of this Note is from the date of this Note through June 1, 2016 (the “Maturity Date”). 

2. Interest. The principal balance remaining unpaid from time to time shall bear interest at a variable rate of 400 basis points
(4.00%) above the One-Month “LIBOR-Index Rate”, which shall be adjusted every month on each Interest Rate Determination Date with all such interest rate terms defined as set forth in “ADDENDUM A” attached hereto and
made a part hereof. Interest owing under this Note shall be computed on the basis of a 360-day year for the actual number of days lapsed. 

3. Payments. Principal payments in the amount of $10,466.67, plus accrued interest shall be due and payable monthly and shall be paid
commencing July 1, 2011, and on the same day of each succeeding month thereafter through and including the Maturity Date. On the Maturity Date, the entire remaining principal indebtedness, plus all accrued and unpaid interest shall be due and
payable in full. 
 All payments shall be made at 201 East Kennedy Boulevard, Suite 1800, Tampa, Florida 33602, or at such other
place as may be designated in writing by the Lender. 
 4. SWAP Obligations. At the mutual agreement of Borrower and Lender,
Borrower may enter into one or more interest rate hedge agreements, interest rate swap agreements, interest rate caps or collars, or similar agreements with Lender, or an affiliate of Lender, in order to adjust the interest payable hereunder.
The principal due under the swap agreement shall be in the amounts set forth therein, but such agreement shall not vary the dates of payments under this Note. 
 5. Borrower’s Right to Prepay. This Note may be prepaid at any time without penalty. 

  

					
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 6. Interest Limitation. Interest payable under this Note or any other payment which would be
considered as interest or other charge for the use or loan of money shall never exceed the highest contract rate allowed by law applicable to this loan to be charged by Lender. If the interest or other charges collected or to be collected in
connection with this loan exceed the permitted limits, then: (A) any such interest or loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (B) any sums already collected from Borrower which
exceeded permitted limits will be refunded. The Lender may choose to make this refund by reducing the principal owed under this Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial
prepayment. 
 7. Borrower’s Failure To Pay As Required. 

(A) Late Charge for Overdue Payments. If the Lender has not received the full amount of any monthly payment by the end of
ten (10) calendar days after it is due, Borrower will pay a late charge to the Lender equal to 5% of the overdue payment of principal and/ or interest. The payment or collection of any such late charge shall not constitute a waiver of any other
right or remedy available to the Lender. 
 (B) Default. If Borrower fails to pay the full amount of each monthly
payment by the end of the ten (10) calendar days after it is due, Borrower will be in default, and upon such default by Borrower, Lender may declare the entire principal and interest then remaining unpaid to be immediately due and payable
without further notice or demand, and the entire unpaid principal balance shall bear interest at the “Default Interest Rate”. The “Default Interest Rate” shall be five percent (5%) per annum above the contract interest rate
set forth above, but not exceeding 18% per annum. 
 (C) Acceleration. If Borrower is in default, the Lender
may require Borrower to pay immediately the full amount of principal which has not been paid and all the interest that Borrower owes on that amount without notice. 
 (D) No Waiver By Lender. Even if, at a time when Borrower is in default, the Lender does not require Borrower to pay immediately in full as described above, the Lender will still have the
right to do so if Borrower is in default at a later time. 
 (E) Payment of Lender’s Costs and Expenses. If
the Lender has required Borrower to pay immediately in full as described above, the Lender will have the right to be paid back by Borrower for all of its costs and expenses in enforcing this Note to the extent not prohibited by applicable law. Those
expenses include, for example, reasonable attorneys’ fees whether suit be brought or not, and including such fees and costs in any appellate, bankruptcy or post judgment proceedings. 
 8. Attorneys’ Fees. All parties liable for the payment of this Note agree to pay the Lender reasonable attorneys’ fees and costs, whether or not an action is brought, for the
services of counsel employed after maturity or default to collect this Note or any principal or interest due hereunder, or to protect the security, if any, or enforce the performance of any other agreement contained in this Note or in any instrument
of security executed in connection with this loan, including costs and attorneys’ fees on any garnishment action, or for any appeal, or in any proceedings under the federal Bankruptcy Code or in any post-judgment proceedings. 

  

					
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 9. Allocation of Payments. Payments shall be applied by Lender first to any late fees or other
expenses of Lender hereunder, then to accrued interest and finally to principal. 
 10. Giving of Notice. Unless applicable law
requires a different method, any notice that must be given to Borrower under this Note will be given by mailing it by first class mail or by delivering it to Borrower at 205 Carriage Street, Guin, Alabama 35563, or at a different address if Borrower
gives the Lender prior written notice of a different address. 
 Any notice that must be given to the Lender under this Note
will be given by mailing it by first class mail to the Lender at the address stated in Section 3 above or at a different address if Borrower is given a notice of that different address. 
 11. Set Off. The Borrower shall have no right of set off against the Lender under this Note or under any instruments securing this Note or executed in connection with the loan evidenced
hereby. The Lender, however, shall have the right, immediately and without further action by it, to set off against this Note all money owed by the Lender in any capacity to Borrower, whether or not due. 

12. Obligations of Persons Under This Note. If more than one person signs this Note, each person is fully and personally obligated to keep
all of the promises made in this Note, including the promise to pay the full amount owed. Any person who is a guarantor, surety, or endorser of this Note is obligated to do these things. Any person who takes over these obligations, including the
obligations of a guarantor, surety, or endorser of this Note, is also obligated to keep all of the promises made in this Note. The Lender may enforce its rights under this Note against each person individually or against all obligators together.
This means that any one of them may be required to pay all of the amounts owed under this Note. 
 13. Waivers and Consents.
Borrower and any other person who has obligations under this Note waive diligence presentment, protest and demand and also notice of dishonor and non-payment of this Note. 
 14. This Note Secured by Security Instruments. In addition to the protections given to the Lender under this Note, a Mortgage and Security Agreement of even date herewith protects the Lender
from possible losses which might result if Borrower does not keep the promises made in this Note. That Mortgage describes how and under what conditions Borrower may be required to make immediate payment in full or in part of the amounts owed under
this Note. 
 15. Litigation. Any litigation between the parties brought in connection with this Note or concerning the subject
matter hereof prior to closing of the Loan shall only be brought in Hillsborough County, Florida. In any such litigation, the prevailing party shall be entitled to an award of its reasonable attorneys’ fees and costs. The Borrower and any
guarantors further knowingly, voluntarily and intentionally, waive any right to trial by jury in respect of any litigation arising out of, under, or in connection with this Note, or the loan. 

  

					
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 16. Business Purpose Loan. The Borrower acknowledges that the proceeds of the loan are to be
used for business or commercial purposes only, and not for personal, family or household purposes. 
 17. WAIVER OF JURY TRIAL.
BORROWER AND LENDER HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE THE RIGHT EITHER MAY HAVE TO A TRIAL BY JURY IN RESPECT TO ANY LITIGATION BASED HEREON, OR ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS NOTE AND ANY AGREEMENT CONTEMPLATED
TO BE EXECUTED IN CONJUNCTION HEREWITH, OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER VERBAL OR WRITTEN) OR ACTIONS OF ANY PARTY. THIS PROVISION IS A MATERIAL INDUCEMENT FOR THE LENDER TO MAKE THIS LOAN AND EXTENSIONS OF CREDIT TO
BORROWER. 
  

			
	DEER VALLEY HOMEBUILDERS, INC.,
	an Alabama corporation
		
	By:	 	 s/ Joel Logan

		 	Joel Logan, as its President
		
		 	    (CORPORATE SEAL)

  

					
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 Addendum A to Note 

LIBOR Index Rate 

SECTION 1 
 Definitions. As used
in this Addendum, the following terms shall have the meanings set forth below: 
 “Bank” shall mean Fifth Third Bank and its successors
and assigns. 
 “Borrower” shall collectively and individually refer to the maker of the attached note dated effective May 26,
2006 (“Note”). The terms of this Addendum are hereby incorporated into the Note and in the event of any conflict between the terms of the Note and the terms of this Addendum, the terms of this Addendum shall control. 

“Business Day” shall mean, with respect to Interest Periods applicable to the LIBOR Rate, a day on which the Bank is open for business and on
which dealings in U.S. dollar deposits are carried on in the London Inter-Bank Market. 
 “Interest Period” shall mean a period of one
(1) month, provided that (i) the initial Interest Period may be less than one month, depending on the initial funding date and (ii) no Interest Period shall extend beyond the maturity date of the Note. 

“Interest Rate Determination Date” shall mean the date the Note is initially funded and the first Business Day of each calendar month
thereafter. 
 “LIBOR Rate” shall mean that rate per annum effective on any Interest Rate Determination Date which is equal to the
quotient of: 
 (i) the rate per annum equal to the offered rate for deposits in U.S. dollars for a one (1) month period,
which rate appears on that page of Bloomberg reporting service, or such similar service as determined by the Bank, that displays British Bankers’ Association interest settlement rates for deposits in U.S. Dollars, as of 11:00 A.M. (London,
England time) two (2) Business Days prior to the Interest Rate Determination Date; provided, that if no such offered rate appears on such page, the rate used for such Interest Period will be the per annum rate of interest determined by
the Bank to be the rate at which U.S. dollar deposits for the Interest Period, are offered to the Bank in the London Inter-Bank Market as of 11:00 A.M. (London, England time), on the day which is two (2) Business Days prior to the Interest Rate
Determination Date, divided by 
 (ii) a percentage equal to 1.00 minus the maximum reserve percentages (including any emergency,
supplemental, special or other marginal reserves) expressed as a decimal (rounded upward to the next 1/100th of 1%) in effect on any day to which the Bank is subject with respect to any LIBOR loan pursuant to regulations issued by the Board of
Governors of the Federal Reserve System with respect to eurocurrency funding 

  

					
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(currently referred to as “eurocurrency liabilities” under Regulation D). This percentage will be adjusted automatically on and as of the effective date of any change in any reserve
percentage. 
 “Prime Rate” shall mean the publicly announced prime lending rate of the Bank from time to time in effect, which rate
may not be the lowest or best lending rate made available by the Bank or, if the Note is governed by Subtitle 10 of Title 12 of the Commercial Law Article of the Annotated Code of Maryland, “Prime Rate” shall mean the Wall Street Journal
Prime Rate, which is the Prime Rate published in the “Money Rates” section of the Wall Street Journal from time to time. 

SECTION 2 
 Interest. The Borrower
shall pay interest upon the unpaid principal balance of the Note at the LIBOR Rate plus the margin provided in the Note. Interest shall be due and payable as provided in the Note and shall be calculated on the basis of a 360 day year and the actual
number of days elapsed. The interest rate shall remain fixed during each month based upon the interest rate established pursuant to this Addendum on the applicable Interest Rate Determination Date. 

SECTION 3 
 Additional Costs. In
the event that any applicable law or regulation or the interpretation or administration thereof by any governmental authority charged with the interpretation or administration thereof (whether or not having the force of law) (i) shall
change the basis of taxation of payments to the Bank of any amounts payable by the Borrower hereunder (other than taxes imposed on the overall net income of the Bank) or (ii) shall impose, modify or deem applicable any reserve, special deposit
or similar requirement against assets of, deposits with or for the account of, or credit extended by the Bank, or (iii) shall impose any other condition with respect to the Note, and the result of any of the foregoing is to increase the cost to
the Bank of making or maintaining the Note or to reduce any amount receivable by the Bank hereunder, and the Bank determines that such increased costs or reduction in amount receivable was attributable to the LIBOR Rate basis used to establish the
interest rate hereunder, then the Borrower shall from time to time, upon demand by the Bank, pay to the Bank additional amounts sufficient to compensate the Bank for such increased costs (the “Additional Costs”“). A detailed statement
as to the amount of such Additional Costs, prepared in good faith and submitted to the Borrower by the Bank, shall be conclusive and binding in the absence of manifest error. 

  

					
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 SECTION 4 
 Unavailability Of Dollar Deposits. If the Bank determines in its sole discretion at any time (the “Determination Date”) that it can no longer make, fund or maintain LIBOR based loans for
any reason, including without limitation illegality, or the LIBOR Rate cannot be ascertained or does not accurately reflect the Bank’s cost of funds, or the Bank would be subject to Additional Costs that cannot be recovered from the Borrower,
then the Bank will notify the Borrower and thereafter will have no obligation to make, fund or maintain LIBOR based loans. Upon such Determination Date the Note will be converted to a variable rate loan based upon the Prime Rate. Thereafter the
interest rate on the Note shall adjust simultaneously with any fluctuation in the Prime Rate. 
  

			
	DEER VALLEY HOMEBUILDERS, INC.,
	an Alabama corporation
		
	By:	 	  

		 	Joel Logan, as its President
		
		 	    (CORPORATE SEAL)

  
 7Guaranty of Loan Agreement

 Exhibit 10.3 
 GUARANTY OF LOAN 
 DEER VALLEY CORPORATION 

FOR VALUE RECEIVED, the sufficiency of which is hereby acknowledged, and in consideration of any loan or other financial accommodation
heretofore or hereafter at any time made or granted to DEER VALLEY HOMEBUILDERS, INC., an Alabama corporation (the “Borrower”), by FIFTH THIRD BANK, an Ohio banking corporation (herein, together with its successors and
assigns, the “Lender”), the undersigned agrees that: 
 1. Undersigned hereby unconditionally guarantees the full and
prompt payment when due, whether by acceleration or otherwise, and at all times hereafter, of: 
 (a) A Renewal Commercial
Promissory Note (the “Note”) secured by a mortgage (the “Mortgage”) on real estate in Marion and Lamar Counties, Alabama, in the principal amount of $1,256,000.00 plus future advances thereunder, as provided in the Note and
Mortgage, executed by Borrower and payable to the order of Lender; 
 (b) Any and all extensions or renewals of the Note, and
all expenses, including attorneys’ fees, incurred in the collection thereof, the enforcement of rights under any security therefor and the enforcement hereof, including Lender’s attorneys’ fees and costs of any litigation and appeals
thereof; and 
 (c) Any indebtedness resulting from advances made on Borrower’s behalf by Lender to protect or preserve the
priority and security of its first lien (all the foregoing items, (a), (b) and (c), being hereinafter called the “Liabilities”). 
 2. Undersigned further unconditionally guarantees the faithful, prompt and complete compliance by Borrower with all terms and conditions of the Note, the Mortgage securing payment of the Liabilities and
all other agreements, documents and instruments securing payment of the Liabilities or related thereto (such Note, Mortgage and all other instruments collectively referred to hereinafter as the “Loan Document” or “Loan
Documents”) and the payment of all costs, expenses, charges and other expenditures required to be made by Borrower, or which Borrower agrees to make, under the terms and provisions of any Loan Document. 

3. In the event Borrower fails to perform its covenants, agreements and undertakings as provided in any Loan Document, the undersigned
shall immediately, with or without the written demand of Lender, promptly, and with due diligence, do and perform for the benefit of Lender, all of such covenants, agreements and undertakings as if they constituted the direct and primary obligations
of the undersigned. 
 4. The obligations of the undersigned hereunder are independent of the obligations of Borrower, and a
separate action or actions for payment, damages or 

 
performance may be brought and prosecuted against the undersigned, or any one of them, whether or not an action is brought against Borrower or the security for Borrower’s obligations, and
whether or not Borrower be joined in any such action or actions, and whether or not notice be given or demand be made upon Borrower. 
 5. Undersigned hereby transfers and conveys to Lender any and all balances, credits, deposits, accounts, items and monies of the undersigned now or hereafter in the possession or control of, or otherwise
with, Lender; and Lender is hereby given a first lien upon, and a security interest in, all property of the undersigned of every kind and description now or hereafter in the possession or control of Lender for any reason, including all dividends and
distributions on or other rights in connection therewith. 
 6. Lender may, without demand or notice of any kind, at any time
when any amount shall be due and payable hereunder by any of the undersigned, appropriate and apply toward the payment of such amount, and in such order of application as Lender may from time to time elect, any property, balances, credits, deposits,
accounts, items or monies of such undersigned in the possession or control of Lender for any purpose. Lender may without notice of any kind, accept an amount less than the total amount then due without waiving any remaining defaults or any remedies
hereunder. 
 7. Lender may, from time to time, without notice to the undersigned and without affecting, diminishing or
releasing the liability of the undersigned: 
 (a) Retain or obtain a security interest in any property to secure any of the
Liabilities or any obligation hereunder; 
 (b) Retain or obtain the primary or secondary liability of any party or parties, in
addition to the undersigned, with respect to any of the Liabilities; 
 (c) Extend or renew for any period (whether or not
longer than the original period), alter or exchange any of the Liabilities; 
 (d) Release or compromise any liability of any of
the undersigned hereunder or any liability of any other party or parties primarily or secondarily liable on any of the Liabilities; 
 (e) Release its security interest, if any, in all or any property securing any of the Liabilities or any obligation hereunder and permit any substitution or exchange for any such property; 

(f) Resort to the undersigned for payment of any of the Liabilities, or any portion thereof, whether or not Lender shall have resorted to
any property securing any of the Liabilities or any obligation hereunder or shall have proceeded against any other of the undersigned or any other party primarily or secondarily liable on any of the Liabilities; and 

  
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 (g) Alter, extend, change, modify, release or cancel any covenant, agreement or provision
contained in any or all Loan Documents. 
 8. Any amount received by Lender from whatever source and applied by it toward the
payment of the Liabilities shall be applied in such order of application as Lender may from time to time elect. 
 9. The
undersigned hereby expressly waives: 
 (a) Notice of the acceptance of this Guaranty; 

(b) Notice of the existence or creation of any Loan Document or all or any of the Liabilities; 

(c) Presentment, demand, notice of dishonor, protest and all other notices whatever; 

(d) All diligence on the part of Lender in collection or protection of, or realization upon, any security for any of the Liabilities or
in enforcing any remedy available to it under any Loan Document; and, 
 (e) Any and all defenses based on suretyship or
impairment of collateral. 
 10. The creation or existence from time to time of Liabilities in excess of the amount to which the
right of recovery under this Guaranty is, if any, limited is hereby authorized, without notice to the undersigned (or any of them), and shall in no way affect or impair this Guaranty. 

11. Lender may, regardless of any default thereunder, without notice of any kind, sell, assign or transfer all or any of the Liabilities,
and in such event each and every immediate and successive assignee, transferee or holder of all or any of the Liabilities shall have the right to enforce this Guaranty, by suit or otherwise, for the benefit of such assignee, transferee or holder, as
fully as if such assignee, transferee or holder were herein by name specifically given such rights, powers and benefits. Lender shall have an unimpaired right, prior and superior to that of any such assignee, transferee or holder, to enforce this
Guaranty for the benefit of Lender, as to so much of the Liabilities as it has not sold, assigned or transferred. 
 12. No
delay or failure on the part of Lender in the exercise of any right or remedy shall operate as a waiver thereof and no single or partial exercise by Lender of any right or remedy herein shall preclude other or further exercise thereof or the
exercise of any other right or remedy whether contained herein or in the Note, Mortgage or any other Loan Document. No action of Lender permitted hereunder shall in any way impair or affect this Guaranty. No right or power of the Borrower or anyone
else to 

  
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assert any claim or defense as to the invalidity or unenforceability of any Loan Document or of the Liabilities shall impair or affect the obligations of the undersigned hereunder. Until all of
the Liabilities shall have been paid to Lender in full, the undersigned shall have no right to subrogation, and until such time, the undersigned waives any right to enforce any remedy which Lender now has or may hereafter have against Borrower, and
waives any benefit of and any right to participate in any security now or hereafter held by Lender. 
 13. It is fully
understood that until each and every one of the covenants and agreements of this Guaranty are fully performed, the undersigned’s obligations shall not be released, in whole or in part, by any action or thing which might, but for this provision
of this instrument, be deemed a legal or equitable discharge of a surety or guarantor, or by reason of any waiver, extension, modification, forbearance or delay or other act or omission of Lender or its failure to proceed promptly or otherwise, or
by reason of any action taken or omitted by Lender, whether or not such action or failure to act varies or increases the risk of or affects the rights or remedies of the undersigned, or by reason of any further dealings between Borrower, Lender or
any other guarantor, and the undersigned hereby expressly waives and surrenders any defense to its liability hereunder based upon any of the foregoing acts, omissions, things, agreements or waivers of any of them; it being the purpose and intent of
the parties hereto that the covenants, agreements and all obligations hereunder are absolute, unconditional and irrevocable under any and all circumstances, except as provided hereinafter. 

14. Any notice, demand or request by Lender, its successors or assigns to the undersigned shall be in writing and shall be deemed to have
been duly given or made if either delivered personally to the undersigned or mailed by certified or registered mail addressed to the undersigned at the address for such guarantor specified below: 

 

					
		 	 DEER VALLEY FINANCIAL CORP.

Attn: Charles G. Masters, President
 205 Carriage
Street
 Guin, Alabama 35563
	 	

 15. During the term of the Note, the Guarantor shall provide to the Lender on an annual basis within 120
days of each year-end, a financial statement on such forms as Lender shall prescribe, and a copy of Guarantor’s federal tax return for the most recent fiscal year end within thirty (30) days of filing. 

16. Provided that no default (as that term is defined in the Mortgage heretofore mentioned) then exists under any Loan Document, this
Guaranty shall terminate when, and only when, Borrower has paid to Lender the moneys borrowed under the Note and all of the Liabilities, and has performed and complied with all the stipulations, agreements, conditions and covenants of the Loan
Documents. When such conditions have been met, Lender will upon request furnish written cancellation of this Guaranty. 

  
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 17. This Guaranty shall inure to the benefit of Lender, its successors and assigns, and
shall bind the undersigned together with its successors and assigns. If more than one party shall execute this Guaranty, the term “undersigned” shall mean all parties executing this Guaranty, and all such parties shall be jointly and
severally obligated hereunder. 
 18. This Guaranty shall be construed in accordance with the laws of the State of Florida, and
such laws shall govern the interpretation, construction and enforcement hereof. Wherever possible, each provision of this Guaranty shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this
Guaranty shall be prohibited by or invalid under such law, such provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provision of the remaining provisions of this Guaranty.

 19. Legal action on any claim, whether contract or tort, which arises out of or relates to the obligations guaranteed
hereunder shall be brought and maintained exclusively in Hillsborough County, Florida. In any such legal action, Lender shall be entitled to an award of its reasonable attorneys’ fees and costs, including fees and costs on appeal. 

20. WAIVER OF JURY TRIAL. GUARANTOR HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVES ITS RIGHT TO A TRIAL BY JURY IN RESPECT TO ANY
LITIGATION BASED HEREON, OR ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS GUARANTY, THE NOTE AND ANY LOAN DOCUMENTS CONTEMPLATED TO BE EXECUTED IN CONJUNCTION HEREWITH, OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER VERBAL OR
WRITTEN) OR ACTIONS OF ANY PARTY. THIS PROVISION IS A MATERIAL INDUCEMENT FOR THE LENDER TO MAKE THE LOAN AND EXTENSIONS OF CREDIT TO BORROWER. 
 IN WITNESS WHEREOF, the undersigned has hereunto set his hand and seal this          day of June, 2011. 

WITNESSES: 
  

							
		 		 	DEER VALLEY CORPORATION, a Florida corporation
				
	  
	 		 	By:	 	 s/ Steve Lawler

	Signature of Witness	 		 		 	John Steven Lawler, as its Chief Financial
	  
	 		 		 	Officer and Secretary
	Print or type Name of Witness	 		 		 	
	  
	 		 		 	    (CORPORATE SEAL)
	Signature of Witness	 		 		 	
	  
	 		 		 	
	Print or type Name of Witness	 		 		 	

  
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	STATE OF
                                
	COUNTY OF
                            

 The foregoing instrument was acknowledged before me this
         day of June 2011, by John Steven Lawler, as Chief Financial Officer and Secretary of DEER VALLEY CORPORATION., a Florida corporation, a Florida corporation, on behalf of the corporation.

  

									
	  
	 	Personally known	 		  	  

	  
	 	Driver’s License (St:         )	 		  	Notary Public
	  
	 	Other Identification Produced	 		  	  

		 	  
	 		 		  	Print or type name of Notary
		 	  
	 		 		  	
		 		 		 		  	(SEAL)

  
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