Document:

Exhibit 10.1

 

PURCHASE
AND SALE AGREEMENT

 

Between

 

BRIDGFORD
FOOD PROCESSING CORPORATION,

a
California corporation

(as
“Seller”)

 

and

 

CRG
ACQUISITION, LLC,

a
Missouri limited liability company

(as
“Purchaser”)

 

Dated:
March 16, 2020

 

Relating
to:

 

The
Purchase and Sale of Certain Improved Property

located
at 170 N. Green Street, Chicago, Illinois 60607

 

    	 	 	 

    	 

    

 

PURCHASE
AND SALE AGREEMENT

 

THIS
PURCHASE AND SALE AGREEMENT (this “Agreement”) is made and entered into effective as of March 16, 2020 (the
“Effective Date”), by and between BRIDGFORD FOOD PROCESSING CORPORATION, a California corporation (“Seller”),
and CRG ACQUISITION, LLC, a Missouri limited liability company, and its successors and assigns (“Purchaser”).

 

WITNESSETH:

 

WHEREAS,
subject to the terms and conditions of
this Agreement, Seller desires to sell to Purchaser,
and Purchaser desires to purchase from Seller, all of Seller’s right, title and interest in and to the Property (as
hereinafter defined).

 

AGREEMENT:

 

NOW,
THEREFORE, for and in consideration of the Purchase Price (as hereinafter defined) and the mutual promises, representations, warranties,
agreements, covenants and conditions set forth below and other good and valuable consideration, the parties hereto agree as follows:

 

ARTICLE
I

 

GENERAL

 

1.1
Agreement to Sell and Purchase. Seller hereby agrees to sell and convey to Purchaser, and Purchaser hereby agrees to purchase
and accept from Seller, for the Purchase Price (hereinafter defined) and upon and subject to the terms and conditions hereinafter
set forth, all of the following described property (collectively, the “Property”):

 

(a)
That certain tract or parcel of land owned by Seller commonly known as 170 N. Green Street, Chicago, Illinois, and being more
particularly described on Exhibit A attached hereto (the “Land”);

 

(b)
The four-story industrial food processing building consisting of approximately 156,000 square feet situated on the Land and all
other improvements and fixtures, including, without limitation, all parking areas, docks and related facilities, situated on the
Land (collectively, the “Improvements”);

 

(c)
All of the rights and appurtenances pertaining to the Land, including all right, title and interest of Seller in and to adjacent
streets, easements and rights-of-way, if any;

 

(d)
All of Seller’s rights relating to the ownership of or use and operation of the Land, and all governmental licenses and
permits, including without limitation certificates of occupancy associated with the Land (collectively, the “Intangible
Property”); and

 

(e)
To the extent assignable, all of Seller’s right, title and interest in and to all assignable contracts and agreements (collectively,
the “Service Contracts”) relating to the upkeep, repair, maintenance or operation of the Land and Improvements
and which Purchaser elects to assume pursuant to Section 2.3 hereof and which will extend beyond the Closing Date (as hereinafter
defined), including, without limitation, all assignable equipment leases.

 

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1.2
Excluded Property. For the avoidance of doubt, the Property shall not include the following (collectively, the “Excluded
Property”):

 

(a)
The furniture, furnishings, appliances, equipment, machinery, and other items of tangible personal property now owned or hereafter
acquired by Seller and located at the Property (the “Personal Property”). Seller and Purchaser acknowledge
and agree that (i) Seller shall be entitled to leave such items of Personal Property listed and described on Schedule 1.2(a)
attached hereto at the Property following the Closing, and (ii) Seller shall remove or cause to be removed from the Property
at or prior to Closing those items of Personal Property not listed on Schedule 1.2(a); provided, however, Seller shall
be entitled, in its sole and absolute discretion, to remove or cause to be removed from the Property at or prior to Closing those
items of Personal Property listed on Schedule 1.2(a). Personal Property not removed by the Seller at or prior to Closing
shall be treated as “abandoned”;

 

(b)
any ownership of or right to use the following: any trademarks, logos, trade colors, service marks and trade names used by Seller
in connection with the business operated at the Property, including, without limitation, the name “Bridgford” and
its associated logo and any derivations thereof (collectively, the “Excluded Marks”) and any advertising, promotional
and similar materials, websites and internet domains which contain the Excluded Marks, it being understood that Seller may, in
its sole and exclusive discretion, remove the Excluded Marks from the Property, or otherwise mask the Excluded Marks prior to
Closing, failing which, Purchaser shall have no obligation to remove or otherwise mask the Excluded Marks;

 

(c)
that certain water tower located on the roof of the Improvements and containing certain Excluded Marks, it being understood that
Seller may, in its sole and exclusive discretion, remove such water tower (or portions thereof) from the Property prior to Closing;

 

(d)
Any books, records, files or data of Seller that do not relate to the Property, including (i) Seller’s company books and
records and historical financial statements and tax records; (ii) all (a) corporate minute books and stock registers of Seller,
(b) internal memoranda, correspondence, analyses, documents or reports prepared by or for Seller or any of its affiliates in connection
with the sale of the Property, and (c) communications between Seller or any of its affiliates and their respective attorneys;
and (iii) any leases or Service Contracts, including all information relating thereto, that were terminated prior to Closing (collectively,
the “Excluded Documents”);

 

(e)
Any of Seller’s rights under this Agreement, or any other agreements, instruments or documents executed by or delivered
to Seller in connection with this Agreement and the transaction contemplated by this Agreement;

 

(f)
The rights of Seller to any refund of unearned insurance premiums paid in respect to the Property that relate to periods prior
to the Closing Date, which right shall survive Closing;

 

(g)
Any Service Contracts to the extent not assumed by Purchaser at Closing; and

 

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(h)
Any confidential, proprietary or privileged materials regarding the Property, or any forward-looking budgets, reports or memoranda
prepared solely for the internal use or for the information of the investors in, or parties related to, Seller.

 

1.3
Purchase Price. The purchase price (the “Purchase Price”) to be paid for the Property shall be Sixty
Million and 00/100 Dollars ($60,000,000.00), payable in cash or immediately available wire transferred funds at the Closing (as
hereinafter defined), subject to the closing adjustments and prorations described herein.

 

1.4
Earnest Money. Within three (3) business days after the Effective Date of this Agreement, Purchaser shall deposit the sum
of Five Hundred Thousand and 00/100 Dollars ($500,000.00) (the “Initial Earnest Money”) in escrow with Chicago
Title Insurance Company, 10 South LaSalle Street, Suite 3100, Chicago, IL, Attention: Kathy McCoy (the “Title Company”),
in its capacity as escrowee. Upon expiration of the Inspection Period, provided that Purchaser has not terminated this Agreement
pursuant to Section 2.2(b) hereof or as otherwise provided herein, Purchaser shall deposit the sum of Four Hundred Thousand
and 00/100 Dollars ($400,000.00) (the “Additional Earnest Money”; the Additional Earnest Money together with
the Initial Earnest Money, and any Extension Deposit (if and to the extent made pursuant to Section 2.4 hereof), being
hereinafter referred to, collectively, as the “Earnest Money”) in escrow with the Title Company. Except as
otherwise provided in this Agreement, the Earnest Money shall become non-refundable in the amounts and upon the dates as specified
in the schedule provided in Section 2.4(b) hereof; provided, however, that the Earnest Money shall be fully refundable
to Purchaser in the event Purchaser exercises any of its rights to terminate this Agreement in accordance with the terms and conditions
of this Agreement. The Earnest Money shall be invested in an interest bearing account or other investment medium reasonably acceptable
to Purchaser, and held in escrow and disbursed by the Title Company strictly in accordance with the terms and provisions of a
joint order escrow agreement in such form provided by the Title Company and reasonably agreed to by Seller and Purchaser. All
interest accrued on the Earnest Money shall be deemed to be part of the Earnest Money. For the avoidance of doubt, except as otherwise
provided in this Agreement, the Earnest Money is non-refundable to Purchaser but shall be applicable against the Purchase Price
at Closing.

 

ARTICLE
II

 

TITLE
COMMITMENT AND SURVEY;

INSPECTION
PERIOD; ZONING PERIOD

 

2.1
Title Commitment and Survey.

 

(a)
Within five (5) days after the Effective Date, Seller shall deliver to Purchaser a commitment for an Owner’s Policy of Title
Insurance issued by the Title Company (the “Commitment”). The Commitment shall include copies of all documents
listed on Schedule B thereof or otherwise noted thereon as exceptions to title, including without limitation, any recorded environmental
liens or recorded activity or use restrictions (collectively, the “Underlying Title Documents”). Purchaser
shall have the right to obtain a survey of the Property to 2016 ALTA/NSPS survey standards, or to have the existing survey provided
by the Seller updated to reflect the current state of the Property, in which case Seller agrees to reasonably cooperate (at no
material cost or expense to Seller) with Purchaser to accomplish such survey update, and in either event such survey shall be
certified to Seller, Purchaser, the Title Company and such other Person(s) as Purchaser may direct in writing (the “Survey”).

 

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(b)
During the period beginning upon the date of Purchaser’s receipt of the Commitment until the date that is ten (10) days
prior to the expiration of the Inspection Period (the “Title Review Period”), Purchaser shall give Seller written
notice of any objections to the condition of title or survey matters as set forth in the Commitment and the Survey (collectively,
the “Objected Items”). In the event Purchaser fails to give a written notice to Seller of the Objected Items
within the Title Review Period, Purchaser shall be deemed to have waived any objections to title and to have accepted the condition
of title as reflected by the Commitment and Survey. Without the necessity of objection by Purchaser, Seller must discharge, at
or prior to Closing: (i) all mortgages, deeds of trust, security agreements and financing statements recorded or filed against
the Property, (ii) any involuntary or non-consensual mechanic’s liens for a definite and ascertainable amount, in the aggregate,
not to exceed Two Hundred Fifty Thousand and No/100 Dollars ($250,000.00), (iii) any mechanic’s liens created by, through
or under Seller, and (iv) any encumbrances voluntarily created after the Effective Date by Seller without Purchaser’s prior
consent in breach of this Agreement (collectively, the “Mandatory Cure Items”). In the event Purchaser gives
a written notice to Seller of the Objected Items within the Title Review Period (“Purchaser’s Title Objection Notice”),
Seller shall, within five (5) days after receipt of Purchaser’s Title Objection Notice (the “Title Response Period”)
give written notice to Purchaser (“Seller’s Title Response Notice”) stating, with respect to each of
the Objected Items, either: (x) that Seller shall have such Objected Item removed from the Commitment, have such Objected Item
with respect to a matter or defect unacceptable to Purchaser shown on the Survey removed from the Survey or have the Title Company
commit to insure or provide indemnification, subject to Purchaser’s approval in its reasonable discretion, at Seller’s
expense, against loss or damage that may be occasioned by such Objected Item, on or before the Closing Date; provided that Seller
may extend the original Closing Date for such period as shall be required to effect such cure, but not beyond thirty (30) days;
or (y) that Seller elects not to take any such curative measures as set forth in the foregoing subsection (x). To the extent an
Objected Item is a Permitted Exception, or if Seller fails to timely deliver the Response Notice to Purchaser on or before the
Title Response Date, Seller shall be deemed to have elected to proceed with subsection (y) of the immediately preceding sentence
with respect to any Objected Items, except with respect to a Mandatory Cure Item. In the event Seller’s Title Response Notice,
delivered prior to the expiration of the Title Response Period, provides that Seller is unwilling or unable to cure the Objected
Items (or Seller is deemed to have elected not to take an curative measures), Purchaser shall have the right to either (x) accept
title in its current condition (except for Mandatory Cure Items) without any adjustment in the Purchase Price, in which event
Purchaser’s objections shall be deemed to have been waived for all purposes, or (y) terminate this Agreement by written
notice to Seller, in which event the Earnest Money shall be returned to Purchaser, and the parties hereto shall have no obligations
hereunder except for those obligations that expressly survive such termination. Failure of Purchaser to send written notice of
the election available to it pursuant to the immediately preceding sentence within five (5) days after the receipt by Purchaser
of Seller’s Title Response Notice (or Seller’s deemed election not to take any curative measures following the expiration
of the Title Response Period) shall be deemed an election by Purchaser to accept title in its current condition.

 

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(c)
For purposes of this Agreement, “Permitted Exceptions” shall mean: (i) all title exceptions listed on the Commitment
and matters shown on the Survey not timely objected to by Purchaser and any items or exceptions to title or survey matters that
are accepted or waived by Purchaser or deemed to have been accepted or waived by Purchaser in accordance with this Section
2.1; (ii) the lien of all ad valorem real estate taxes and assessments not yet due and payable as of the Closing Date subject
to adjustment as herein provided; (iii) local, state and federal laws, ordinances or governmental regulations, including but not
limited to, building and zoning laws, ordinances and regulations, now or hereafter in effect relating to the Property; and (iv)
matters that have arisen as a result of acts done or suffered by or through Purchaser.

 

(d)
If at any time prior to Closing, Seller becomes aware of a title defect or survey matter that is not a Permitted Exception and
that was not disclosed in the Commitment or Survey, Seller shall immediately notify Purchaser of such title defect or survey matter
and Purchaser shall have the right to object to the same by delivering to Seller written notice of such additional title defect
or survey matter and the same procedures set forth in this Section 2.1 shall be applicable to such additional items. If
at any time prior to Closing, Purchaser becomes aware of a title defect or survey matter that is not a Permitted Exception and
that was not disclosed in the Commitment or Survey, and which would otherwise qualify for an objection notice under this Section
2.1, Purchaser shall have the right to object to the same by delivering to Seller written notice of such additional title
defect or survey matter and the same procedures set forth in this Section 2.1 shall be applicable to such additional items.

 

2.2
Review and Inspection by Purchaser.

 

(a)
Prior to the Effective Date, Seller has begun to make certain documents and information related to the Property available to Purchaser
and, within three (3) business days after the date of this Agreement, Seller shall deliver or make available to Purchaser the
documents and information described on Schedule 2.2(a) attached hereto (collectively, the “Due Diligence Deliveries”),
to the extent in the possession or reasonable control of Seller’s designated representative, Richard Bridgford, being a
resident of Chicago, Illinois, thirty-two (32) years of age as of the Effective Date (the “Designated Representative”).
The Due Diligence Deliveries so delivered shall include all relevant or pertinent documents related to the environmental condition
of the Property in Seller’s possession as of the Effective Date. Purchaser shall have the right, accompanied by the Designated
Representative, or another representative of Seller, and using best efforts to prevent any disruption of the current operations
at the Property, during the period from the Effective Date through 6:00 P.M. CST on the date that is forty-five (45) days after
the Effective Date (“Inspection Period”) to inspect the Property, the Due Diligence Deliveries and all other
documents reasonably requested by Purchaser and in the possession or reasonable control of the Designated Representative relating
to the Property at such place or places as such books, records and documents (exclusive of the Excluded Documents) are maintained,
and to conduct such tests and studies (including, without limitation, soil, environmental and other physical condition tests,
appraisals, zoning analysis, and economic feasibility studies) as Purchaser may deem reasonably necessary or appropriate in order
to determine if the Property is in satisfactory condition and is suitable for Purchaser’s purposes; provided, however Purchaser
must provide no less than three (3) days’ prior written notice to Seller of its intent to inspect and/or conduct any tests
or studies at the Property and must receive Seller’s written consent prior to conducting any such inspections, tests or
studies, which consent shall not be unreasonably withheld or delayed, and Seller shall have the right to designate reasonable
times of day for such inspections and tests. Prior to commencing any such tests, studies and investigations, Purchaser shall maintain
and shall furnish to Seller a certificate of insurance evidencing comprehensive general public liability insurance with a limit
of not less than $2,000,000 insuring the person, firm or entity performing such tests, studies and investigations and listing
Seller and Purchaser as additional insureds thereunder. The costs and expenses of such inspections, tests and studies shall be
borne solely by Purchaser. Purchaser shall defend, indemnify and hold Seller and Seller’s respective officers, directors,
shareholders, partners, members, managers, owners, agents and employees (collectively, the “Seller Indemnified Parties”)
harmless from and against any and all liabilities, claims, demands, actions, losses, costs, expenses or damages suffered or incurred
by or against any of the Seller Indemnified Parties directly resulting from or arising out of, Purchaser’s reviews, interviews,
investigations, tests, studies and inspections of the Property, whether conducted prior to, as of or subsequent to the Effective
Date (collectively, “Claims”). Notwithstanding anything to the contrary in this Agreement, such obligation
to indemnify the Seller Indemnified Parties shall (x) be limited to Claims regarding: (i) personal injury or death, (ii) physical
damage to the Property, and (iii) unreasonable interference with Seller’s business operations at the Property, and (y) survive
Closing or any termination of this Agreement.

 

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(b)
If Purchaser is not satisfied with the results of its inspections, tests and studies of the Property, or its review of the information
described in this Section 2.2, or any other aspect of the Property for any reason whatsoever or for no reason, in its sole
discretion, Purchaser shall have the right to terminate this Agreement by delivering to Seller written notice of its election
to terminate this Agreement under this Section 2.2 (the “Notice to Terminate”) prior to the end of the
Inspection Period. If this Agreement is so terminated, the Earnest Money and all accrued interest thereon shall be returned to
Purchaser immediately thereafter and neither party shall have any further liability or obligation to the other except for those
obligations and liabilities that expressly survive the termination of this Agreement (including the indemnification obligation
set forth in this Section 2.2). If Purchaser fails to deliver the Notice to Terminate prior to the end of the Inspection
Period, Purchaser’s right to terminate this Agreement under this Section 2.2 shall expire, Purchaser shall deposit
the Additional Earnest Money with the Title Company pursuant to Section 1.4 hereof, and the Earnest Money shall become
non-refundable in the amounts and upon the dates as specified in the schedule provided in Section 2.4(b) hereof.

 

2.3
Service Contracts. On or before the end of the Inspection Period, Purchaser shall advise Seller in writing which Service
Contracts Purchaser elects to assume at Closing, and which Service Contracts Purchaser elects to have terminated at or prior to
Closing. Purchaser shall take title to the Property subject to any Service Contract which Purchaser elects to assume in writing
prior to the end of the Inspection Period, and Purchaser shall expressly assume all obligations thereunder for the period from
and after the Closing Date. Purchaser shall be deemed to have elected to terminate any Service Contract at Closing for which Purchaser
fails to deliver written notice to Seller prior to the end of the Inspection Period of its election to so terminate such Service
Contract.

 

2.4
Zoning Period; Treatment of Earnest Money during Zoning Period.

 

(a)
Seller and Purchaser acknowledge that Purchaser proposes to design, entitle, and construct a mixed commercial and residential
use project on the Property (the “Project”) pursuant to certain commercially reasonable plans and specifications
for the Project developed by or on behalf of Purchaser (the “Development Plans”). Purchaser’s obligation
to consummate the transactions contemplated under this Agreement is expressly contingent upon Purchaser obtaining, using commercially
reasonable and diligent efforts, such zoning and other governmental approvals necessary for the construction and development of
the Project in accordance with the Development Plans (the “Approvals”) on or prior to the date that is six
(6) months from and after the expiration of the Inspection Period (the “Zoning Period”). Notwithstanding the
foregoing, Purchaser shall have the right to extend the Zoning Period for purposes of obtaining the Approvals up to three (3)
times by up to thirty (30) calendar days for each such extension (each, an “Extension Option”), provided that
(x) Purchaser delivers written notice to Seller of its exercise of an Extension Option not less than one (1) business day prior
to the then applicable expiration of the Zoning Period and (y) so long as the NFR Letter described in Section 3.5 has been obtained,
within one (1) business day following delivery of any such extension notice, Purchaser delivers to Seller by bank wire of immediately
available funds the sum of Two Hundred Thousand and 00/100 Dollars ($200,000.00) (each, an “Extension Deposit”).
Seller shall reasonably cooperate with Purchaser in Purchaser’s efforts to obtain the Approvals without cost or expense
to Seller. Without limiting the generality of the foregoing, Seller shall sign any and all documents required or necessary to
timely complete the Approvals, which will not impose any new or additional liability on Seller. If Purchaser does not obtain such
Approvals on or prior to the expiration of the Zoning Period (as the same may be extended in accordance with this Section 2.4(a)),
Purchaser shall have the right, at its sole option, to terminate this Agreement by written notice to Seller prior to the expiration
of the Zoning Period, and this Agreement shall thereupon terminate in which event the Earnest Money and interest earned thereon,
if any, shall be retained by Seller to the extent released to Seller pursuant to Section 2.4(b), and released to Purchaser to
the extent then held by the Title Company, as escrowee, and neither Seller nor Purchaser shall have any further obligation or
liability under this Agreement (except for obligations that are expressly intended to survive the termination of this Agreement).
If this Agreement is not so terminated pursuant to the foregoing sentence, the zoning contingency set forth in this Section
2.4(a) shall be deemed waived by Purchaser and Purchaser shall be obligated to close this transaction as provided in this
Agreement. Purchaser will pay any and all fees and costs to obtain the Approvals.

 

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(b)
Except in the event Purchaser timely exercises its right to terminate this Agreement in accordance with the terms and conditions
of this Agreement, on the first day after the expiration of the Inspection Period and subsequently on the monthly anniversary
of such date, a certain portion of the Earnest Money shall be released to Seller by wire transfer pursuant to wiring instructions
provided to the Title Company by Seller, but applicable towards the Purchase Price at Closing, in accordance with the following
schedule:

 

	MONTH	 	APPLICABLE PORTION OF EARNEST MONEY	 
	1	 	$	150,000	 
	2	 	$	150,000	 
	3	 	$	150,000	 
	4	 	$	150,000	 
	5	 	$	150,000	 
	6	 	$	150,000	 
	TOTAL:	 	$	900,000	 

 

For
the avoidance of doubt, upon expiration of the Zoning Period (assuming no Extension Options are exercised by Purchaser), the entirety
of the Initial Earnest Money and the Additional Earnest Money shall be released to Seller, but applicable to the Purchase Price
at Closing, unless otherwise expressly provided in this Agreement, including but not limited to events of Seller defaults (after
the expiration of any applicable notice and cure periods). The balance of the Purchase Price shall be paid by Purchaser at Closing
in accordance with the applicable terms of this Agreement. At Closing, Purchaser shall receive a credit against the Purchase Price
for any portion of the Earnest Money in Seller’s possession as of the Closing Date. Notwithstanding the foregoing, in the
event Purchaser timely exercises its right to terminate this Agreement in accordance with Section 3.5 due to Seller’s
inability to timely obtain the NFR Letter (as defined in Section 3.5), any portion of the Earnest Money then held by Seller
at such time as Purchaser timely exercises its termination right under Section 3.5 shall be promptly returned to Purchaser,
and Purchaser shall be entitled to be reimbursed for its actual out-of-pocket pursuit costs in accordance with Section 3.5.

 

(c)
Notwithstanding anything contained in this Agreement to the contrary, in the event Purchaser terminates this Agreement in accordance
with the rights hereunder, Purchaser agrees that Seller shall be entitled to the benefit of any Approvals obtained by Purchaser
prior to such termination, and Purchaser further agrees to provide correct and complete copies to the Seller of the Development
Plans, and any related drawings, elevations, studies, reports, data, findings and information in any form prepared, assembled,
produced or provided to Purchaser by the architects, planners, contractors, service providers, engineers and any third party consultant
(collectively, the “Work Product Providers”) in connection with the Project and the development and construction
thereof. Seller acknowledges that Purchaser shall provide copies of the documents referenced in the preceding sentence without
any assignments, representations, or warranties from Purchaser relating thereto. Notwithstanding the foregoing, in the event Purchaser
terminates this Agreement, Purchaser shall take commercially reasonable steps to assist with, at no cost or expense to Purchaser,
and shall cooperate with Seller in order to facilitate Seller engaging the services of the Work Product Providers related to the
Property.

 

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ARTICLE
III

 

REPRESENTATIONS,
WARRANTIES, COVENANTS,

AND
AGREEMENTS OF SELLER AND PURCHASER

 

3.1
Representations and Warranties of Seller. To induce Purchaser to enter into this Agreement and to consummate the sale and
purchase of the Property in accordance herewith, Seller represents and warrants to Purchaser, as of the Effective Date and as
of the Closing Date, except where specific reference is made to another date or dates, in which case the other date or dates will
apply, that:

 

	 	(a)	Seller
    has been duly formed, validly exists and is in good standing in the State of California, is authorized to do business in Illinois,
    and has the full right, power, and authority to sell and convey the Property as provided in this Agreement and to carry out
    Seller’s obligations hereunder, without the joinder of any other person or entity, and all requisite action necessary
    to authorize Seller to enter into this Agreement and to carry out its obligations hereunder has been or by the Closing will
    have been taken. Seller is not prohibited from consummating the transactions contemplated by this Agreement by any law, regulation,
    agreement, instrument, restriction, order or judgment.
	 	 	 
	 	(b)	Seller
    is not a “foreign person” as that term is defined in Section 1445 of the Internal Revenue Code of 1986, as amended,
    and any applicable regulations promulgated thereunder.
	 	 	 
	 	(c)	Seller
    is in compliance with the requirements of Executive Order No. 133224, 66 Fed. Reg. 49079 (Sept. 25, 2001) and other similar
    requirements contained in the rules and regulations of the Office of Foreign Assets Control, Department of the Treasury (“OFAC”)
    and in any enabling legislation or other Executive Orders or regulations in respect thereof. Seller and, to Seller’s
    knowledge, each Person owning an interest in Seller is (i) not currently identified on the Specially Designated Nationals
    and Blocked Persons List maintained by the OFAC and/or on any other similar list maintained by OFAC pursuant to any authorizing
    statute, executive order or regulation; and (ii) not a Person with whom a citizen of the United States is prohibited to engage
    in transactions by any trade embargo, economic sanction, or other prohibition of United States law, regulation, or Executive
    Order of the President of the United States; and (iii) not an Embargoed Person. To Seller’s knowledge, (i) none of the
    funds or other assets of Seller constitute property of, or are beneficially owned, directly or indirectly, by any Embargoed
    Person, and (ii) no Embargoed Person has any interest of any nature whatsoever in Seller (whether directly or indirectly).
	 	 	 
	 	(d)	Seller
    is not a party to any, and has not received any written notice of a pending or threatened, litigation, arbitration or administrative
    proceeding, including, without limitation, condemnation or similar proceedings, which affects or impairs, in any material
    way, Seller’s title to the Property or Seller’s ability to perform its obligations under this Agreement, or which
    otherwise affects or relates to Seller’s ownership, use or possession of the Property;

 

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	 	(e)	The
    Agreement is, and all other closing documents to be executed and delivered by Seller will be on the Closing Date, valid and
    binding obligations of Seller.
	 	 	 
	 	(f)	Seller
    has not received any written notice of alleged property damage, bodily injury, or violation of or liability under any law
    or legal requirements from any governmental authority or other third party with respect to the Property which has not heretofore
    been cured. Seller has not received any notice from any governmental authority regarding the possibility of a special assessment
    of any kind (special, bond or otherwise) being levied against the Property, or any portion thereof, except to the extent such
    special assessment has already been levied or is currently being levied.
	 	 	 
	 	(g)	There
    are no tenants or occupants of the Property as of the Effective Date.
	 	 	 
	 	(h)	Other
    than the Service Contracts, or as may be set forth in the Title Commitment, there are no contracts, equipment leases, agreements
    or commitments, written or oral, affecting the Property which would be binding on Purchaser or which would run with the Land.
    Seller has received no written notice from any party of any breach, default or failure to perform under any Service Contracts
    that has not heretofore been cured and Seller has not sent any written notice of any breach, default or failure to perform
    under any Service Contracts.
	 	 	 
	 	(i)	Seller
    has no property manager, service provider at the Property, or other employees which Purchaser shall be obligated to employ
    following the Closing.
	 	 	 
	 	(j)	Seller
    has not entered into any leases affecting the Property or any written agreements pursuant to which Seller has granted any
    rights of first refusal to purchase all or any part of the Property, options to purchase all or any part of the Property or
    similar rights with respect to the Property whereby any individual or entity has the right to purchase all or any part of
    the Property which has not been waived as of the date hereof, and no such agreements or rights currently exist. Seller has
    not previously assigned, transferred or encumbered in any manner any development rights applicable to the Property, except
    as pledged to any lenders of Seller, which pledges have already been released or shall be released at Closing.
	 	 	 
	 	(k)	To
    Seller’s knowledge, the Due Diligence Deliveries delivered or to be delivered to Purchaser in accordance with Section
    2.2(a) hereof are true and correct in all material respects.

 

For
purposes of this Section 3.1, “knowledge” shall mean the actual current knowledge of Richard Bridgford
of Seller, having the title of Vice President, Industrial Relations and Safety, and being a resident of Chicago, Illinois of thirty-two
(32) years of age as of the Effective Date, without duty of inquiry or investigation of any other person or entity.

 

    	 	10	 

    	 

    

 

EXCEPT
FOR THE EXPRESS REPRESENTATIONS CONTAINED HEREIN, PURCHASER ACKNOWLEDGES THAT SELLER IS SELLING, AND PURCHASER SHALL ACCEPT, THE
PROPERTY IN AN “AS IS, WHERE IS, WITH ALL FAULTS” CONDITION WITHOUT RELYING UPON ANY REPRESENTATION OR WARRANTY RELATING
TO THE PROPERTY (INCLUDING, WITHOUT LIMITATION, ITS PHYSICAL CONDITION, ITS SUITABILITY FOR ANY PARTICULAR PURPOSE, ITS COMPLIANCE
WITH LAWS [INCLUDING, WITHOUT LIMITATION, ENVIRONMENTAL LAWS, OR THE ABSENCE OF HAZARDOUS MATERIALS THEREUPON]), WHATSOEVER BY
SELLER, ITS AGENTS, BROKERS, ATTORNEYS, EMPLOYEES OR INDEPENDENT CONTRACTORS, ORAL OR WRITTEN, EXPRESS OR IMPLIED, INCLUDING BUT
NOT LIMITED TO IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE, OR ANY REPRESENTATION OR WARRANTY RELATING
TO THE FINANCIAL ASPECTS OF THE PROPERTY, WITH THE EXCEPTION OF THE EXPRESS REPRESENTATIONS AND WARRANTIES SET FORTH IN THIS AGREEMENT
AND IN THE CLOSING DOCUMENTS.

 

EXCEPT
AS OTHERWISE EXPRESSLY PROVIDED IN THIS AGREEMENT OR IN THE CLOSING DOCUMENTS, SELLER MAKES NO REPRESENTATION OR WARRANTY
AS TO THE TRUTH, ACCURACY OR COMPLETENESS OF ANY MATERIALS, DATA OR OTHER INFORMATION DELIVERED OR MADE AVAILABLE BY SELLER TO
PURCHASER IN CONNECTION WITH THE TRANSACTION CONTEMPLATED HEREBY.

 

PURCHASER
ACKNOWLEDGES THAT IT IS A SOPHISTICATED REAL ESTATE PURCHASER WHO HAS HERETOFORE HAD AND/OR SHALL DURING THE INSPECTION PERIOD
HAVE OPEN ACCESS TO, AND SUFFICIENT TIME TO REVIEW, ALL INFORMATION, DOCUMENTS, AGREEMENTS, STUDIES AND TESTS RELATING TO THE
PROPERTY THAT PURCHASER DEEMED OR DEEMS NECESSARY TO REVIEW IN ITS SOLE DISCRETION, AND HAS OR HEREAFTER SHALL HAVE CONDUCTED
A COMPLETE AND THOROUGH INSPECTION, ANALYSIS AND EVALUATION OF THE PROPERTY, INCLUDING BUT NOT LIMITED TO ENVIRONMENTAL TESTING
AND THE CONDITION OF THE IMPROVEMENTS. PURCHASER HEREBY RELEASES SELLER, ITS CONSTITUENT OWNERS, OFFICERS, DIRECTORS, AND THEIR
RESPECTIVE AGENTS AND EMPLOYEES, FROM ANY AND ALL LIABILITY, RESPONSIBILITY, CLAIMS, DAMAGES, LOSSES AND EXPENSES ARISING OUT
OF OR RELATED TO THE CONDITION OF THE PROPERTY OR ITS SUITABILITY FOR ANY PURPOSE, EXCEPT FOR ANY LIABILITY OF SELLER EXPRESSLY
SET FORTH HEREIN; PROVIDED, HOWEVER, THAT THE FOREGOING RELEASE DOES NOT APPLY TO CLAIMS, DAMAGES, LOSSES AND/OR EXPENSES ARISING
DUE TO BREACHES OF REPRESENTATIONS EXPRESSLY SET FORTH HEREIN AND IN ANY OF THE CLOSING DOCUMENTS.

 

    	 	11	 

    	 

    

 

EFFECTIVE
AS OF THE CLOSING, PURCHASER HEREBY RELEASES SELLER FROM ANY AND ALL LIABILITY IN CONNECTION WITH ANY CLAIMS THAT PURCHASER MAY
HAVE AGAINST SELLER RELATING DIRECTLY OR INDIRECTLY TO THE EXISTENCE OF HAZARDOUS MATERIALS ON, OR ENVIRONMENTAL CONDITIONS OF,
THE PROPERTY; PROVIDED, HOWEVER, THAT IN NO EVENT SHALL THE FOREGOING RELEASE INCLUDE ANY CLAIMS ARISING OUT OF THE BREACH OF
SELLER’S EXPRESS REPRESENTATIONS AND WARRANTIES HEREUNDER OR IN THE CLOSING DOCUMENTS. As used herein, the term “HAZARDOUS
MATERIALS” means (i) hazardous wastes, hazardous substances, hazardous constituents, toxic substances or related materials,
whether solids, liquids or gases, including but not limited to substances defined as “hazardous wastes,” “hazardous
substances,” “toxic substances,” “pollutants,” “contaminants,” “radioactive materials,”
or other similar designations in, or otherwise subject to regulation under, the Comprehensive Environmental Response, Compensation
and Liability Act of 1980, as amended, 42 U.S.C. §9601 et seq.; the Toxic Substance Control Act, 15 U.S.C. §2601 et
seq.; The Hazardous Materials Transportation Act, 49 U.S.C. §1802; the Resource Conservation and Recovery Act, 42 U.S.C.
§9601. et seq.; the Clean Water Act, 33 U.S.C. §1251; the Safe Drinking Water Act, 42 U.S.C. §300f et seq.; the
Clean Air Act, 42 U.S.C. §7401 et seq.; and in any permits, licenses, approvals, plans, rules, regulations or ordinances
adopted, or other criteria and guidelines promulgated pursuant to the preceding laws or other similar federal, state or local
laws, regulations, rules or ordinance now or hereafter in effect relating to environmental matters (collectively, “Environmental
Laws”); and (ii) any other substances, constituents or wastes subject to any applicable federal, state or local law,
regulation or ordinance, including any Environmental Law, now or hereafter in effect, including but not limited to (A) petroleum,
(B) refined petroleum products, (C) waste oil, (D) waste aviation or motor vehicle fuel and (E) asbestos. Purchaser acknowledges
that having been given the opportunity to inspect the Property, Purchaser is relying solely on its own investigation of the Property
and not on any information provided or to be provided by Seller. Purchaser further acknowledges that the information provided
with respect to the Property was obtained from a variety of sources, and that Seller (x) has not made any independent investigation
or verification of such information and (y) makes no representations as to the accuracy or completeness of such information, except
as provided herein.

 

PURCHASER
HAS UNDERTAKEN OR HEREAFTER SHALL UNDERTAKE SUCH INVESTIGATION AS PURCHASER DEEMED OR DEEMS NECESSARY TO MAKE PURCHASER FULLY
AWARE OF THE CONDITION OF THE PROPERTY AS WELL AS ALL FACTS, CIRCUMSTANCES AND INFORMATION WHICH MAY AFFECT THE USE AND OPERATION
OF THE PROPERTY, AND PURCHASER COVENANTS AND WARRANTS TO SELLER THAT PURCHASER HAS RELIED AND SHALL RELY, EXCEPT TO THE EXTENT
OF SELLER’S EXPRESS REPRESENTATIONS CONTAINED HEREIN AND IN ANY OF THE CLOSING DOCUMENTS SOLELY ON PURCHASER’S OWN
DUE DILIGENCE INVESTIGATION IN DETERMINING TO PURCHASE THE PROPERTY. THE PROVISIONS OF THIS SECTION 3.1 SHALL SURVIVE THE
CLOSING OR EARLIER TERMINATION OF THIS AGREEMENT AND SHALL BE INCORPORATED INTO THE CLOSING DOCUMENTS TO BE DELIVERED AT CLOSING.

 

    	 	12	 

    	 

    

 

3.2
Representations and Warranties of Purchaser. To induce Seller to enter into this Agreement and to consummate the sale and
purchase of the Property in accordance herewith, Purchaser represents and warrants to Seller, as of the Effective Date and as
of the Closing Date, except where specific reference is made to another date or dates, in which case the other date or dates will
apply, that:

 

	 	(a)	Purchaser
    has the full right, power, and authority to purchase and acquire the Property as provided in this Agreement and to carry out
    Purchaser’s obligations hereunder, without the joinder of any other person or entity, and all requisite action necessary
    to authorize Purchaser to enter into this Agreement and to carry out its obligations hereunder has been or by the Closing
    will have been taken.
	 	 	 
	 	(b)	Neither
    the execution of this Agreement nor the consummation by Purchaser of the transactions contemplated hereby will (i) conflict
    with or result in a breach of the terms, conditions or provisions of or constitute a default, or result in a termination of
    any agreement or instrument to which Purchaser is a party; (ii) violate any restriction to which Purchaser is subject; or
    (iii) constitute a violation of any existing federal, state or local law, ordinance, rule, regulation or order of which Purchaser
    is aware.
	 	 	 
	 	(c)	The
    Agreement is, and all other closing documents to be executed and delivered by Purchaser will be on the Closing Date, valid
    and binding obligations of Purchaser.
	 	 	 
	 	(d)	Purchaser
    is a duly organized limited liability company, validly existing and in good standing under the laws of the State of Missouri.

 

3.3
Survival of Representations and Warranties; Updates to Representations and Warranties.

 

	 	(a)	All
    representations and warranties of Seller and Purchaser set forth in Sections 3.1 and 3.2 hereof shall survive the Closing
    for a period of nine (9) months thereafter (that is, written notice of any claim under any representation or warranty by Purchaser
    must be given to Seller within nine (9) months of the Closing Date) (the “Survival Period”). After Closing,
    the aggregate liability of Seller for the breach of any of its covenants, representations or warranties under this Agreement
    shall not exceed the amount of one and one-half percent (1.5%) of the Purchase Price; provided, however, that Seller’s
    liability shall not be limited with respect to its obligations under Section 7.2 hereof. Further, Purchaser shall have
    no recourse against Seller to enforce or seek damages for, any breach of representations and warranties unless the total damage
    resulting from such breaches, in the aggregate, exceeds Seventy Five Thousand and No/100 Dollars ($75,000.00), subject in
    any event to the other terms, conditions and limitations set forth in this Agreement.

 

    	 	13	 

    	 

    

 

	 	(b)	Seller
    shall have the right to amend or supplement the representations and warranties set forth herein, to the extent any such representation
    or warranty becomes untrue or inaccurate during the pendency of this Agreement, (i) to reflect changes in facts, circumstances
    or conditions that occur after the Effective Date and (ii) for any other changes reasonably approved in writing by Purchaser.
    Seller shall bear no liability for such matters described in clauses (i) or (ii) of the preceding sentence if such untruth
    or inaccuracy of any Seller representations and warranties contained herein meets each of the following conditions: (a) is
    not the result of Seller’s breach of any express covenant set forth in this Agreement, (b) was actually unknown to Seller
    as of the Effective Date, (c) was not caused by the intentional or fraudulent actions after the Effective Date by Seller and/or
    any of its affiliates, and (d) Seller discloses the same to Purchaser in writing within five (5) business days of obtaining
    actual knowledge thereof. Notwithstanding anything contained herein to the contrary, if Purchaser proceeds to complete the
    purchase of the Property with knowledge that any of the representations and warranties of Seller are untrue, Purchaser shall
    be deemed to have waived such matter. Notwithstanding anything contained in this Agreement to the contrary, if prior to Closing,
    any Seller discloses to Purchaser in writing or Purchaser discovers or obtains actual knowledge that any fact or circumstance
    exists which would cause any representation or warranty of any Seller contained in this Agreement to be, or to become as of
    the Closing Date, not true and correct in all material respects, then Purchaser shall promptly give Sellers written notice
    of its objection thereto. In such event, Seller may elect to postpone the Closing for up to thirty (30) days and attempt to
    cure such objection. If Seller is unable to cure such objection within the thirty (30) day period to Purchaser’s satisfaction,
    in its reasonable discretion, Purchaser shall have the right to terminate this Agreement and the Earnest Money shall be refunded
    to Purchaser in full.

 

3.4
Operations Pending Closing. From the Effective Date through the Closing Date (or earlier termination of this Agreement),
Seller agrees as follows:

 

	 	(a)	Seller
    may, in its sole discretion, continue all normal business operations at the Property through Closing and during such period
    will maintain the Property as necessary to enable such operations. Purchaser acknowledges that Seller may determine to cease
    all operations and maintenance and move or dispose of any Personal Property located at the Property, in its sole and exclusive
    discretion, and Seller shall have no obligation to restore or repair any portion of the Property affected by such removal.
    Notwithstanding anything herein to the contrary, Seller shall have vacated the Property at or prior to Closing and shall deliver
    possession of the Property to Purchaser at Closing in such a condition that complies with this Agreement (including Section
    1.2(a) above) and all applicable federal, state, and local laws pertaining thereto. 
	 	 	 
	 	(b)	Seller
    will keep in full force and effect all existing fire, casualty, liability and extended coverage and other insurance policies
    which are presently in effect for the Property, or any portion of the Property; excluding, however, such policies that are
    no longer necessary upon cessation of business operations at the Property.
	 	 	 
	 	(c)	Seller
    shall give Purchaser prompt notice of the institution of any litigation of which it becomes aware prior to the Closing Date
    involving Seller or the Property.
	 	 	 
	 	(d)	Seller
    will not list the Property with any broker or otherwise solicit or make or accept any offers to sell the Property, engage
    in any discussions or negotiations with any third party with respect to the sale or other disposition of the Property, or
    enter into any contracts or agreements (whether binding or not) regarding any disposition of the Property.

 

    	 	14	 

    	 

    

 

3.5
Remediation; NFR Letter.

 

(a)
Prior to the Effective Date, Seller engaged its environmental consultant, Stantec Consulting Services Inc. (the “Environmental
Consultant”) to complete Phase I and Phase II Environmental Site Assessments (the “ESAs”) of the
Land. The ESAs confirmed the existence of certain soil impacted by mercury, semi-volatile organic compounds and metals located
within an estimated five feet by five feet by four feet deep (totaling approximately four cubic yards) portion the Land (the “Existing
Contamination”). Seller has submitted, or shall submit promptly following the Effective Date, once required reports
are available from the Environmental Consultant, the Property to the Illinois Environmental Protection Agency Voluntary Site Remediation
Program as set forth in Title XVII of the Illinois Environmental Protection Act, 415 ILCS 5/58 et seq., and the regulations
promulgated thereunder (collectively the “SRP”) and shall, at Seller’s cost and expense, conduct such
remediation of the Existing Contamination (the “Remediation”) necessary to obtain a comprehensive “No
Further Remediation” letter in form and substance as may be reasonably acceptable to Seller and Purchaser (the “NFR
Letter”) from the Illinois Environmental Protection Agency (the “IEPA”). If required by the IEPA,
Seller shall also, at its expense, record the NFR Letter and submit the recorded NFR Letter to IEPA. Seller has engaged the Environmental
Consultant to act as Seller’s consultant throughout the Remediation process, including the development of an action plan
for completion of the Remediation in accordance with the SRP, culminating in Seller’s receipt of the NFR Letter. Purchaser
shall cooperate with all such efforts by Seller to conduct the Remediation and obtain the NFR Letter. Notwithstanding anything
contained in this Agreement to the contrary, Seller’s failure to obtain the NFR Letter from the IEPA shall not constitute
a default by Seller hereunder.

 

(b)
Notwithstanding anything contained in this Agreement to the contrary, Seller shall have the right to extend the Closing Date as
necessary for the purpose of obtaining the NFR Letter up to three (3) times for thirty (30) calendar days for each such extension,
provided that Seller delivers written notice to Purchaser of its exercise of such extension option not less than ten (10) business
days prior to the then applicable Closing Date. If Seller has not obtained the NFR Letter in accordance with this Section 3.5
by the original expiration of the Zoning Period, Purchaser shall not be obligated to pay the Extension Deposits contemplated
under Section 2.4(a). If Seller determines it will be unable to obtain the NFR Letter from the IEPA at least ten (10) business
days prior to the Closing Date (as the same may be extended), Seller shall provide notice of same to Purchaser within one (1)
business day of making such determination. In such event, Purchaser may terminate this Agreement by delivering to Seller written
notice of its election to terminate this Agreement under this Section 3.5(b) within three (3) business days following receipt
of such notice from Seller. If this Agreement is so terminated in accordance with this Section 3.5(b): (i) the Earnest
Money and all accrued interest thereon shall be promptly returned to Purchaser; (ii) Seller shall reimburse Purchaser for its
actual out-of-pocket pursuit costs and predevelopment expenses incurred, including but in no way limited to its internal and third
party costs and expenses for engineering, design, architectural, environmental, zoning, survey, title, legal, brokerage, consulting,
accounting, financing, and other work related to the Property or the Project, in an amount not to exceed Five Hundred Thousand
and 00/100 Dollars ($500,000.00); and (iii) neither party shall have any further liability or obligation to the other except for
those liabilities and obligations that expressly survive the termination of this Agreement.

 

    	 	15	 

    	 

    

 

ARTICLE
IV

 

THE
CLOSING

 

4.1
The Closing Date. Subject to Seller’s right to extend the Closing as provided in Section 3.5(b), the consummation
of the transactions contemplated by this Agreement (the “Closing”) shall take place at the offices of the Title
Company through escrow by means of a so-called “New York style closing” (i.e., a Closing which consists of the concurrent
delivery of the documents of title, transfer of interests, delivery of an ALTA Form B 2006 owner’s title policy or “marked-up”
title commitment as described herein and the payment of the Purchase Price) on the date which is thirty (30) days after expiration
or waiver of the Zoning Period (as the same may be extended), or at such earlier or later date as Purchaser and Seller may mutually
agree to in writing, but in no event earlier than October 31, 2020 or later than March 31, 2021 (the “Closing Date”).

 

4.2
Seller’s Obligations at the Closing. On or prior to the Closing Date (or by such earlier date as specifically stated
herein), Seller shall deliver or cause to be delivered to Purchaser and the Title Company the following items:

 

	 	(a)	Special
    Warranty Deed (the “Deed”), in the form attached hereto as Exhibit B, executed by Seller, conveying
    to Purchaser good and indefeasible fee simple title to the Land and Improvements, subject only to the Permitted Exceptions;
	 	 	 
	 	(b)	Bill
    of Sale and Assignment (the “Bill of Sale”), in the form attached hereto as Exhibit C, executed
    by Seller, assigning to Purchaser the Intangible Property and the Service Contracts;
	 	 	 
	 	(c)	Affidavit
    of Non-Foreign Status (the “FIRPTA
    Affidavit”), in the form attached hereto as Exhibit D, executed by Seller;
	 	 	 
	 	(d)	Originals
    of all items referred to in Section 2.2, to the extent in the possession or reasonable control of Seller;
	 	 	 
	 	(e)	All
    keys and electronic pass cards or devices to all entrance doors to, and equipment and utility rooms and vault boxes located
    in, the Property;
	 	 	 
	 	(f)	Such
    evidence of the authority of Seller to consummate the Closing as the Title Company may reasonably require;
	 	 	 
	 	(g)	Evidence
    reasonably satisfactory to Purchaser that all management and marketing agreements with respect to the Property have been terminated
    on or prior to the Closing Date, and evidence reasonably satisfactory to Purchaser that all Service Contracts that Purchaser
    has elected to terminate (or is deemed to have elected to terminate) pursuant to Section 2.3 have been terminated on
    or prior to the Closing Date;

 

    	 	16	 

    	 

    

 

	 	(h)	Certificate,
    dated as of the Closing Date and duly executed on behalf of Seller, stating that the representations and warranties of Seller
    contained in this Agreement are true and correct in all material respects as of the Closing Date;
	 	 	 
	 	(i)	Sales/Withholding
    Releases of all of Purchaser’s obligations to withhold a portion of the Purchase Price at Closing under applicable State
    of Illinois, Cook County, and City of Chicago bulk sales or tax statutes, including 902(d) of the Illinois Revenue Code and
    similar laws of Cook County and the City of Chicago, or if not obtained by Closing, an indemnity from Seller for any such
    amounts claimed due by the State of Illinois, Cook County, or the City of Chicago;
	 	 	 
	 	(j)	City
    of Chicago Water / Sewer Full Payment Certificate;
	 	 	 
	 	(k)	A
    closing statement, executed by Seller, in a form mutually acceptable to Seller and Purchaser; and
	 	 	 
	 	(l)	Such
    other documents as the Title Company or Purchaser may reasonably request.

 

4.3
Purchaser’s Obligations at the Closing. On or prior to the Closing Date, Purchaser shall deliver or cause to be delivered
to the Title Company the following items:

 

	 	(a)	The
    Purchase Price, subject to the prorations set forth herein, in cash or immediately available wire transferred funds;
	 	 	 
	 	(b)	Executed
    counterparts of the instruments described in Section 4.2(c) above;
	 	 	 
	 	(c)	Certificate,
    dated as of the Closing Date and duly executed on behalf of Purchaser, stating that the representations and warranties of
    Purchaser contained in this Agreement are true and correct in all material respects as of the Closing Date;
	 	 	 
	 	(d)	A
    closing statement, executed by Purchaser, in a form mutually acceptable to Seller and Purchaser; and
	 	 	 
	 	(e)	Such
    other documents as the Title Company or Seller may reasonably request.

 

4.4
Closing Costs. Seller shall pay: (A) the cost of the owner’s policy premium
charged by the Title Insurer (including extended coverage and any endorsements required to insure over title defects that
Seller has agreed to cure); (B) all costs associated with the recording of any releases
which are required to be recorded by Seller pursuant to this Agreement; and (C) one-half (1/2) of all escrow or closing agent
charges. Purchaser shall pay: (V) all costs associated with the recording of the Deed; (W) the cost of any lender title insurance
policies and the cost of all Purchaser Endorsements (as hereinafter defined) and all affirmative endorsements for Purchaser’s
lender’s policy; (X) the cost of the preparation of the Survey; (Y) one-half (1/2) of all Escrow or closing agent charges;
and (Z) all costs associated with the recording of any encumbrances Purchaser places on the Property at the Closing. The cost
of any state, county and/or municipal transfer tax shall be paid by the party designated as responsible in the applicable ordinance
or statute. Each party shall be responsible for compensating their respective counsel and/or advisors. The
obligations of the parties to pay the foregoing costs and expenses shall survive the termination of this Agreement.

 

    	 	17	 

    	 

    

 

4.5
Prorations. The following items of revenue and expense shall be adjusted and apportioned as of the Closing Date, with
Purchaser being treated as the owner of the Property on the Closing Date:

 

	 	(a)	Seller
    shall pay any taxes and assessments affecting the Property (including, without limitation, real estate taxes) which are due
    and payable on or prior to the Closing Date. Taxes and assessments affecting the Property (including, without limitation,
    real estate taxes) which are not then due and payable shall be prorated as of the Closing Date based upon 105% of the most
    recent ascertainable assessed valuation, tax rate, and state equalizer relating to the Property. Within thirty (30) days after
    the actual real estate taxes for the year in which the Closing occurs are determined, Seller and Purchaser shall adjust the
    proration of such taxes and Seller or Purchaser, as the case may be, shall pay to the other any amount required as a result
    of such adjustment and this covenant shall not merge with the deed delivered hereunder but shall survive the Closing.
	 	 	 
	 	(b)	All
    costs and expenses of operating the Property and all amounts paid or payable under the Service Contracts shall be prorated
    as of the Closing Date. If invoices for the foregoing charges or expenses are
    unavailable on the Closing Date, Seller and Purchaser agree to rely on the best information available.
	 	 	 
	 	(c)	Water
    charges, fuel charges and other utility charges (including, without limitation, telephone, gas and electricity) shall not
    be prorated between Seller and Purchaser. Seller shall terminate its account (but not the service itself) with the providers
    of all of such utility services as of the Closing Date and Purchaser shall, as
    of the Closing Date, make application to the providers of such services for the continuation of such services in the name
    of Purchaser or its designee. The meters will be read on or about the Closing Date
    and the Seller shall be responsible for paying the bills for such services accruing prior to the Closing
    Date and the Purchaser shall be responsible for the payment of all such accounts accruing on or after the Closing
    Date. If final readings are not possible by Closing, then gas, water, electricity and any other applicable utility
    charges will be prorated based on the most recent period for which costs are available or as otherwise agreed by the parties.
    Purchaser shall credit to the account of Seller at the Closing all refundable cash or other deposits posted with utility companies
    serving the Property to the extent and amount of any deposit which is not subject to offset for arrearage and which is assigned
    or transferred to Purchaser, or, at Seller’s or Purchaser’s option, Seller shall be entitled to receive and retain
    such refundable cash and deposits.
	 	 	 
	 	(d)	Except
    as specifically set forth in this Section 4.5, all prorations shall be final as of the Closing Date and not subject
    to further adjustment.

 

    	 	18	 

    	 

    

 

4.6
Purchaser Closing Conditions. Notwithstanding anything to the contrary in this Agreement or otherwise, Purchaser’s
obligation to consummate the transactions contemplated by this Agreement shall be subject to satisfaction of each of the following
conditions (collectively, the “Purchaser Closing Conditions”); provided, however, that Purchaser shall have
the unilateral right to waive any of the Purchaser Closing Conditions, in whole or in part, by written notice to Seller:

 

	 	(a)	The
    representations and warranties of Seller set forth in this Agreement shall be, in all material respects, true and complete.
	 	 	 
	 	(b)	Seller
    shall have performed all of the material obligations required to be performed by Seller under this Agreement, in all material
    respects, including Seller’s obligation to vacate the Property set forth in Section 3.4(a), and Seller’s
    obligations set forth above in Section 4.2.
	 	 	 
	 	(c)	Seller
    shall have delivered the final, executed NFR Letter from the IEPA to Purchaser in accordance with the applicable terms and
    conditions of this Agreement.

 

Notwithstanding
anything to the contrary in this Agreement, if any of the Purchaser Closing Conditions is not satisfied as of the Closing Date,
then Purchaser may waive such condition(s) or shall notify Seller in writing of such failed Purchaser Closing Condition(s), and,
except as to subsection (c) above, if Seller satisfies such failed Purchaser Closing Condition(s) within thirty (30) day period
after its receipt of such notice, the Closing shall occur at the end of such thirty (30) day period, or such earlier date as mutually
agreed to by the parties in writing. Unless waived by Purchaser, if such failed Purchaser Closing Condition(s) in this Section
4.6 is not satisfied by the end of such thirty (30) day period, Purchaser may elect to terminate this Agreement by notice
in writing given to Seller within five (5) days after the expiration of said thirty (30) day period, in which case this Agreement
shall be null and void and neither party shall have any further rights or obligations under this Agreement except (i) those that
expressly survive a termination of this Agreement as provided herein, and (ii) Seller shall return and/or cause to be returned
to Purchaser the Earnest Money.

 

For
the avoidance of doubt, Purchaser’s obligations under this Agreement, including the payment of the Purchase Price at Closing,
shall not be subject to any financing contingency of the ability of Purchaser to obtain any other debt or equity funds.

 

    	 	19	 

    	 

    

 

4.7
Seller Closing Conditions. Notwithstanding anything to the contrary in this Agreement or otherwise, Seller’s obligation
to consummate the transactions contemplated by this Agreement shall be subject to satisfaction of each of the following conditions
(collectively, the “Seller Closing Conditions”); provided, however, that Seller shall have the unilateral right
to waive any of the Seller Closing Conditions, in whole or in part, by written notice to Purchaser:

 

	 	(a)	Purchaser
    shall have tendered the Purchase Price to the Title Company pursuant to the provisions of this Agreement.
	 	 	 
	 	(b)	Purchaser
    shall have performed all of the material obligations required to be performed by Purchaser under this Agreement, in all material
    respects including the obligations set forth above in Article 4.3.
	 	 	 
	 	(c)	The
    representations and warranties of Purchaser set forth in this Agreement shall be, in all material respects, true and complete.
	 	 	 
	 	(d)	Seller
    shall have received the final, executed NFR Letter from the IEPA in accordance with the applicable terms and conditions of
    this Agreement.

 

Notwithstanding
anything to the contrary in this Agreement, if any condition to the obligation of Seller to proceed is not satisfied as of the
Closing Date, then Seller shall notify Purchaser in writing of such failed condition(s), and in such notice Seller may (i) adjourn
and extend the Closing Date for up to thirty (30) days to fulfill, (ii) waive such condition(s), or (iii) terminate this Agreement.
If during such extended period pursuant to subsection (i) in the foregoing sentence, Purchaser is unable to fulfill the condition,
Seller shall notify Purchaser and upon the giving of such notice, shall waive such condition, or terminate this Agreement and
this Agreement shall be null and void and neither party shall have any further rights or obligations under this Agreement except
(i) those that expressly survive a termination of this Agreement as provided herein, and (ii) as liquidated damages as Seller’s
sole and exclusive remedy.

 

4.8
Possession. Possession of the Property shall be delivered to Purchaser at Closing, with Seller having vacated the Property,
free and clear of all liens and claims other than Permitted Exceptions and the rights of service providers under the Service Contracts.
Seller shall have completed all necessary measures to sufficiently decommission an industrial food processing facility in satisfaction
of the requirements of all applicable federal, state, and local laws pertaining thereto. Purchaser shall be entitled to inspect
the Property prior to Closing, in accordance with the applicable terms of this Agreement, to confirm, to Purchaser’s reasonable
satisfaction, that Seller has complied with its obligations under this Section 4.8.

 

    	 	20	 

    	 

    

 

ARTICLE
V

 

CONDEMNATION
PRIOR TO THE CLOSING

 

5.1
Condemnation. If, prior to the Closing Date, all or any portion of the Property is taken or threatened by, or made subject
to, condemnation, eminent domain or other governmental acquisition proceedings, then Seller shall promptly notify Purchaser thereof.
If such taking or condemnation (or threatened taking or condemnation) involves a material portion of the Property (as hereinafter
defined) , then Purchaser, at its sole option, may elect either, by written notice to be delivered to Seller on or before the
sooner of (i) the tenth (10th) business day after Purchaser’s receipt of such notice, or (ii) the Closing Date:

 

	 	(a)	to
    terminate this Agreement, whereupon the Title Company shall immediately return the Earnest Money and all interest accrued
    thereon to Purchaser and, upon Purchaser’s receipt thereof, neither party hereto shall have any further rights against,
    or obligations to, the other under this Agreement (except for those rights or obligations set forth herein that expressly
    survive such termination); or
	 	 	 
	 	(b)	to
    agree to close and deduct from the Purchase Price an amount equal to any sum paid to Seller for such governmental acquisition,
    in which event Seller shall assign, transfer and set over to Purchaser all of Seller’s right, title and interest in
    and to any awards which may in the future be made on account of such governmental acquisition.

 

As
used herein, a “material portion of the Property” means any part of the Property without which the value of
the Property would be diminished by more than ten percent (10%) of the Purchase Price. If any taking or threatened taking does
not involve a material portion of the Property, Purchaser shall be required to proceed with the Closing, in which event Seller
shall assign to Purchaser any award given to Seller (or the right to receive any such award) as a result of such condemnation
proceedings.

 

ARTICLE
VI

 

DEFAULTS

 

6.1
Default by Seller. In the event Seller shall default in the performance of its obligations under this Agreement, and such
default is not cured within five (5) business days after receipt of written notice of said default from Purchaser (provided, however,
that there shall be no notice and cure period applicable to Seller’s failure to close the transaction on the Closing Date
as required by this Agreement), Purchaser may, as its sole and exclusive remedies, either (i) enforce specific performance of
this Agreement against Seller with full payment of the Purchase Price, or (ii) terminate this Agreement by delivering written
notice to Seller, in which event the Earnest Money and all interest accrued thereon shall be disbursed to Purchaser, and Seller
shall reimburse Purchaser for its actual out-of-pocket pursuit costs and predevelopment expenses incurred, including but in no
way limited to its internal and third party costs and expenses for engineering, design, architectural, environmental, zoning,
survey, title, legal, brokerage, consulting, accounting, financing, and other work related to the Property or the Project, in
an amount not to exceed Five Hundred Thousand and 00/100 Dollars ($500,000.00). In no event shall Seller be liable for any actual,
special, punitive, speculative or consequential damages if the Closing does not occur. This
Section 6.1 shall survive the expiration or termination of this Agreement.

 

6.2
Default by Purchaser. In the event Purchaser shall default in the performance of its obligations under this Agreement,
and such default is not cured within five (5) business days after receipt of written notice of said default from Seller (provided,
however, that there shall be no notice and cure period applicable to Purchaser’s failure to close the transaction on the
Closing Date as required by this Agreement), Seller may, as its sole and exclusive remedy, terminate this Agreement by delivering
written notice to Purchaser, in which event the Earnest Money and all interest accrued thereon shall be disbursed to Seller as
liquidated damages for Purchaser’s default under this Agreement, it being agreed between the parties hereto that the actual
damages to Seller in the event of such breach are impractical to ascertain and the amount of the Earnest Money is a reasonable
estimate thereof. Seller expressly waives its right to specific performance or damages against Purchaser. This
Section 6.2 shall survive the expiration or termination of this Agreement.

 

    	 	21	 

    	 

    

 

ARTICLE
VII

MISCELLANEOUS

 

7.1
Notices. Any notice to be given or to be served upon any party hereto in connection with this Agreement must be in writing,
and may be delivered by electronic mail, by a reputable overnight courier, or by personal delivery. If given by personal delivery,
the notice shall be deemed to have been given when delivered to and received by the party to whom it is addressed. If given by
electronic mail, the notice shall be deemed to have been given on the date of delivery if
sent prior to 5:00 P.M. CST, and if after, then on the next business day. If given by overnight courier, the notice shall
be deemed to have been given on the next business day following deposit with the overnight courier. Such notices shall be given
to the parties hereto at the following addresses or email addresses, as applicable:

 

	If
    to Seller, to:	 	Bridgford
    Food Processing Corporation
	 	 	1308
    N. Patt Street
	 	 	Anaheim,
    California 92801
	 	 	Attention:
    William L. Bridgford
	 	 	Email:
    billbridgfordjr@bridgford.com
	 	 	 
	with
    a copy to:	 	Bridgford,
    Gleason & Artinian
	 	 	26
    Corporate Plaza, Suite 250
	 	 	Newport
    Beach, California 92660
	 	 	Attn:
    Richard K. Bridgford
	 	 	Email:
    richard.bridgford@bridgfordlaw.com
	 	 	 
	and
    to:	 	DLA
    Piper LLP (US)
	 	 	444
    West Lake Street, Suite 900
	 	 	Chicago,
    Illinois 60606
	 	 	Attn:
    Richard Klawiter
	 	 	Email:
    richard.klawiter@dlapiper.com
	 	 	 
	If
    to Purchaser, to:	 	CRG
    Acquisition, LLC
	 	 	2199
    Innerbelt Business Center Drive
	 	 	St.
    Louis, MO 63114
	 	 	Attention:
    Chris McKee
	 	 	E-mail:
    mckeec@realcrg.com
	 	 	 
	With
    a copy to:	 	CRG
    Acquisition, LLC
	 	 	2199
    Innerbelt Business Center Drive
	 	 	St.
    Louis, MO 63114
	 	 	Attention:
    Caroline Saunders
	 	 	E-mail:
    saundersc@realcrg.com
	 	 	 
	and
    to:	 	Thompson
    Coburn LLP
	 	 	55
    East Monroe Street, 37th Floor
	 	 	Chicago,
    Illinois 60603
	 	 	Attention:
    Gary L. Plotnick
	 	 	E-mail:
    gplotnick@thompsoncoburn.com

 

    	 	22	 

    	 

    

 

Any
party hereto may, at any time by giving written notice to the other party hereto, designate any other address, facsimile number,
or email address in substitution of the foregoing to which such notice shall be given.

 

7.2
Brokerage Fees and Commissions. Each of Seller and Purchaser represents and warrants to the other that it has not dealt
with any brokers, finders or agents with respect to the transaction contemplated hereby, except for CBRE Group, Inc. (“Broker”),
who will be paid by Seller upon the Closing of the transaction contemplated hereby and not otherwise, pursuant to a separate written
agreement between Seller and Broker. Seller hereby agrees to indemnify, defend and hold harmless Purchaser, its successors, assigns
and agents, from and against the payment of any commission, compensation, loss, damages, costs, and expenses (including without
limitation attorneys’ fees and costs) incurred in connection with, or arising out of, claims for any broker’s, agent’s
or finder’s fees of any person claiming by or through Seller, including Broker. Purchaser hereby agrees to indemnify, defend
and hold harmless Seller, its successors, assigns and agents, from and against the payment of any commission, compensation, loss,
damages, costs, and expenses (including without limitation attorneys’ fees and costs) incurred in connection with, or arising
out of, claims for any broker’s, agent’s or finder’s fees of any person claiming by or through Purchaser. Purchaser
hereby represents and warrants to Seller that Purchaser has not dealt with any broker or finder in respect to the transaction
contemplated hereby other than the Broker. The obligations of Seller and Purchaser under this Section 7.2 shall survive
the Closing and the termination of this Agreement.

 

7.3
Entire Agreement. This Agreement embodies and constitutes the entire understanding between the parties hereto with respect
to the transactions contemplated herein, and all prior or contemporaneous agreements, understandings, representations and statements,
oral or written, are merged into this Agreement.

 

7.4
Modification. Neither this Agreement nor any provision hereof may be waived, modified, amended, discharged or terminated
except as provided herein or by an instrument in writing signed by the party against which the enforcement of such waiver, modification,
amendment, discharge or termination is sought, and then only to the extent set forth in such instrument.

 

7.5
Applicable Law. This Agreement shall be governed by, and construed in accordance with, the laws of Illinois.

 

    	 	23	 

    	 

    

 

7.6
Jurisdiction and Waiver of Jury Trial. ANY LITIGATION BASED ON THIS AGREEMENT, OR ARISING OUT OF, UNDER, OR IN CONNECTION WITH
THIS AGREEMENT, OR ANY CLAIMS, CONTROVERSIES OR DISPUTES ARISING OUT OF THIS AGREEMENT OR RELATED HERETO OR THE SUBJECT MATTER
HEREOF, WILL BE BROUGHT AND MAINTAINED EXCLUSIVELY IN THE FEDERAL OR STATE COURTS LOCATED IN COOK COUNTY, ILLINOIS. EACH PARTY
HERETO EXPRESSLY AND IRREVOCABLY SUBMITS TO THE JURISDICTION OF THE FEDERAL OR STATE COURTS LOCATED IN COOK COUNTY ILLINOIS. THE
PARTIES HERETO WAIVE TRIAL BY JURY IN ANY ACTION, PROCEEDING OR CLAIM BROUGHT BY EITHER OF THE PARTIES AGAINST THE OTHER REGARDING
ANY MATTERS ARISING OUT OF THIS AGREEMENT.

 

7.7
Headings. Descriptive headings are used in this Agreement for convenience only and shall not control, limit, amplify or
otherwise modify or affect the meaning or construction of any provision of this Agreement.

 

7.8
Binding Effect. Subject to the provisions of Section 7.8, this Agreement shall be binding upon and shall inure to
the benefit of the parties hereto and their respective permitted successors and assigns.

 

7.9
Assignment. Purchaser may not assign this Agreement, in whole or in part, except with the prior written consent of Seller,
which consent may be given or withheld in Seller’s sole and absolute discretion. Notwithstanding the foregoing, provided
that Purchaser notifies Seller in writing not later than five (5) business days prior to Closing, this Agreement may be assigned
by Purchaser, without Seller’s consent, to an Affiliate or subsidiary of Purchaser or to a joint venture between an investor
and Purchaser (or Purchaser’s Affiliate or subsidiary). Such assignment shall not release Purchaser from its obligations
under this Agreement prior to Closing (or the earlier termination of this Agreement); provided, however, Purchaser shall be released
as of the Closing Date upon consummation of the Closing in accordance with the applicable terms of this Agreement. The term “Affiliate”
shall mean an entity or person owned or controlled, directly or indirectly, by Purchaser or under common ownership or control,
directly or indirectly, with Purchaser.

 

7.10
Discharge of Obligations. The acceptance of the Deed by Purchaser shall be deemed to be a full performance and discharge
of every representation and warranty made by Seller herein and every agreement and obligation on the part of Seller to be performed
pursuant to the provisions of this Agreement, except those which are herein specifically stated to survive Closing. The actual
receipt of the Purchase Price by Seller shall be deemed to be a full performance and discharge of every representation and warranty
made by Purchaser herein and every agreement and obligation on the part of Purchaser to be performed pursuant to the provisions
of this Agreement, except those which are herein specifically stated to survive Closing.

 

7.11
Time of Essence. Time is of the essence of this Agreement and of each covenant and agreement that is to be performed at
a particular time or within a particular period of time. However, if the final date of any period which is set out in any provision
of this Agreement or the Closing Date falls on a Saturday, Sunday or legal holiday under the laws of the United States or of the
State of Illinois, then the time of such period or the Closing Date, as the case may be, shall be extended to the next date which
is not a Saturday, Sunday or legal holiday.

 

    	 	24	 

    	 

    

 

7.12
Invalid Provision. If any provision of this Agreement is held to be illegal, invalid or unenforceable under present or
future laws, such provision shall be fully severable; this Agreement shall be construed and enforced as if such illegal, invalid
or unenforceable provision had never comprised a part of this Agreement; and the remaining provisions of this Agreement shall
remain in full force and effect and shall not be affected by such illegal, invalid or unenforceable provision or by its severance
from this Agreement.

 

7.13
Attorneys’ Fees. If either party defaults in its obligations hereunder, the defaulting party shall pay the reasonable
attorneys’ fees incurred by the other party in order to enforce its rights hereunder.

 

7.14
Counterparts. This Agreement may be executed in any number of counterparts and each
of such counterparts shall, for all purposes, be deemed an original and all such counterparts shall together constitute one and
the same agreement. Execution copies of this Agreement may be delivered by facsimile or email, and the parties hereto agree to
accept and be bound by facsimile signatures or scanned signatures transmitted via email hereto, which signatures shall be considered
as original signatures with the transmitted Agreement having the binding effect as an original signature on an original document.
Neither party may raise the use of a facsimile machine or scanned document or the fact that any signature was transmitted through
the use of a facsimile machine or email as a defense to the enforcement of this Agreement.

 

7.15
Public Disclosure Generally. Except as may be necessary in any action to enforce this Agreement, any release to the public
of information with respect to the matters set forth in this Agreement will be made only in the form reasonably approved by Purchaser
and Seller and their respective counsel, and shall not in any event be made until expiration of the Inspection Period. From and
after the Effective Date, (i) Purchaser and Seller shall jointly prepare and issue all releases of information relating to the
sale of the Property, including, without limitation, any public statement press releases, and any inquiries regarding the transaction
contemplated hereby shall be responded to only after consultation with the other party hereto and (ii) Purchaser agrees not to
use the name “Bridgford” or any derivatives thereof in any way with respect to the direct or indirect acquisition
or ownership of the Property without Seller’s consent, which may be withheld in Seller’s sole discretion. Notwithstanding
the foregoing, Purchaser shall be entitled after Closing, to issue a press release regarding the fact that it has acquired the
Property from Seller and Purchaser’s plans for development thereof.; provided, however, Purchaser shall not disclose any
economic terms of the transaction contemplated herein without first obtaining Seller’s prior written consent, which may
be withheld in Seller’s sole discretion. The provisions of this Section 7.15 shall survive the Closing or earlier
termination of this Agreement. Notwithstanding anything contained in this Section 7.15 to the contrary, following the Effective
Date, Purchaser shall be permitted to make statements to and conduct interviews with the media and press concerning Purchaser’s
plans for development at the Property, it being acknowledged and agreed by Seller and Purchaser that (a) Purchaser shall only
discuss such plans for development at the Property and not any terms of this Agreement, including without limitation, the economic
terms hereof , and (b) Purchaser shall otherwise not make any other public disclosures without strictly complying with the terms
and conditions of this Section 7.15 and Section 7.22.

 

    	 	25	 

    	 

    

 

7.16
Seller Disclosure. Notwithstanding anything contained in Section 7.15 to the contrary, it is expressly understood
and agreed that Seller, as an affiliate of a publically-traded company, shall have the right to make such public announcements
of the transaction contemplated hereby (including therein, without limitation, reference to the Purchase Price, EBITDA, EBITDA
multiple, net operating income and cap rate, as applicable), including in press releases and in filings with the Securities and
Exchange Commission and other regulatory bodies (including filing a copy of the Agreement, schedules and exhibits), and in communications
with its investors (including, but not limited to, such announcements to its investors subsequent to the Inspection Period indicating
that the Purchaser under this Agreement has elected to close the transaction contemplated hereby, subject to the then remaining
terms and conditions hereof), as Seller shall require.

 

7.17
No Third Party Beneficiary. The provisions of this Agreement and of the documents to be executed and delivered at Closing
are and will be for the benefit of Seller and Purchaser only and are not for the benefit of any third party, and accordingly,
no third party shall have the right to enforce the provisions of this Agreement or of the documents to be executed and delivered
at Closing.

 

7.18
Termination of Agreement. It is understood and agreed that if either Purchaser or Seller terminates this Agreement pursuant
to a right of termination granted hereunder, such termination shall operate to relieve Seller and Purchaser from all obligations
under this Agreement, except for such obligations as are specifically stated herein to survive the termination of this Agreement.

 

7.19
Business Days. If any date herein set forth for the performance of any obligations by Seller or Purchaser or for the delivery
of any instrument or notice as herein provided should be on a Saturday, Sunday or legal holiday, the compliance with such obligations
or delivery shall be deemed acceptable on the next business day following such Saturday, Sunday or legal holiday. As used herein,
the term “legal holiday” means any state or federal holiday for which financial institutions or post offices
are generally closed in the State of Illinois for observance thereof.

 

7.20
Further Assurances. Each party shall, when requested by the other party hereto, cause to be executed, acknowledged and
delivered such further instruments and documents as may be necessary and proper, in the reasonable opinion of the requesting party,
in order to carry out the intent and purpose of this Agreement; provided, however, that this Section 7.19 shall not be
construed to increase the economic obligations or liabilities of either party hereto.

 

7.21
Construction. The parties acknowledge that each party and its counsel have received
and approved this Agreement and that the normal rule of construction to the effect that any ambiguities are to be resolved against
the drafting party shall not be employed in the interpretation of this Agreement or any amendments or exhibits hereto.

 

    	 	26	 

    	 

    

 

7.22
Confidentiality. Purchaser and its representatives
shall hold in the strictest confidence all data and information obtained with respect to Seller, its business or the Property,
whether obtained before or after the execution and delivery of this Agreement, and shall not disclose the same to others; provided,
however, that it is understood and agreed that Purchaser may disclose such data and information regarding this Agreement and the
Property on a “need to know” basis with certain parties reasonably aimed at furthering its efforts to develop the
Property, including, but not limited to, governmental officials and entities (solely to the extent reasonably necessary in connection
with Purchaser’s pursuit of the Approvals), actual or potential lenders, investors, partners, brokers, employees, consultants,
accountants and attorneys, provided that such parties are informed of the confidential nature of such data and information. In
the event this Agreement is terminated or Purchaser fails to perform hereunder, Purchaser shall promptly return to Seller any
statements, documents, schedules, exhibits or other written information obtained from Seller in connection with this Agreement
or the transaction contemplated herein. In the event of a breach or threatened breach by Purchaser or its agents or representatives
of this Section 7.21, Seller shall be entitled to an injunction restraining Purchaser or its agents or representatives
from disclosing, in whole or in part, such confidential information. Nothing herein shall be construed as prohibiting Seller from
pursuing any other available remedy at law or in equity for such breach or threatened breach. The provisions of this Section
7.21 shall survive the Closing (with respect to the information relating to Seller or its business) or the earlier termination
of this Agreement.

 

7.23
Section 1031 Exchange. Purchaser and Seller hereby acknowledge that Purchaser and/or Seller (the “Exchange Party”)
may desire to effectuate a tax-deferred exchange (also known as a “1031” exchange (the “Exchange”))
in connection with the purchase and/or sale of all or a portion of the Property. Each party (the “Cooperating Party”)
hereby agrees to cooperate with the Exchange Party in connection with the Exchange contemplated by the Exchange Party, provided
that:

 

(a)
All documents executed in connection with the Exchange (the “Exchange Documents”) shall recognize that
Cooperating Party is acting solely as an accommodating party to such Exchange, shall have no liability with respect thereto, and
is making no representation or warranty that the transactions qualify as a tax-free exchange under Section 1031 of the Internal
Revenue Code or any applicable state or local laws and shall have no liability whatsoever if any such transactions fail to so
qualify. All Exchange Documents executed by Cooperating Party in connection with the Exchange shall be in form and substance reasonably
acceptable to Cooperating Party.

 

(b)
Such Exchange shall not result in Cooperating Party incurring any additional costs or liabilities (and Exchange Party shall pay
all additional costs and expenses to the extent that such are incurred, including, without limitation, any additional costs or
expenses incurred by Cooperating Party as a result of its participation in the Exchange) and shall not extend the Closing Date.
Exchange Party shall indemnify, defend and hold Cooperating Party harmless from and against all claims, demands, liability, losses,
damages, costs and expenses (including reasonable attorneys’ and accountants’ fees) suffered or incurred by Cooperating
Party in connection with the Exchange.

 

(c)
In no event shall Cooperating Party be obligated to acquire any property or otherwise be obligated to take title, or appear in
the records of title, to any property in connection with the Exchange.

 

(d)
In no event shall Exchange Party’s consummation of such Exchange constitute a condition precedent to Exchange Party’s
obligations under this Agreement, and Exchange Party’s failure or inability to consummate such Exchange shall not be deemed
to excuse or release Exchange Party from its obligations under this Agreement.

 

    	 	27	 

    	 

    

 

(e)
Purchaser and Seller further agree that, in connection with the foregoing, and subject in all respects to the foregoing provisions,
Cooperating Party shall consent to Exchange Party assigning all or a portion of its rights under this Agreement to an exchange
intermediary solely for the purpose of consummating such Exchange. In no event shall any such assignment release Exchange Party
of its obligations under this Agreement or any document executed pursuant to the terms hereof, including, without limitation,
its indemnity obligations hereunder, or affect in any manner any of Exchange party’s representations, warranties or covenants
set forth in this Agreement.

 

7.24
Limitation of Liability. No constituent partner or member in or agent of Seller or Purchaser, nor any advisor, trustee,
director, officer, employee, beneficiary, shareholder, member, partner, participant, representative or agent of any partnership,
limited liability company, corporation, trust or other entity that has or acquires a direct or indirect interest in Seller or
Purchaser, shall have any personal liability, directly or indirectly, under or in connection with this Agreement or any agreement
made or entered into under or pursuant to the provisions of this Agreement, or any amendment or amendments to any of the foregoing
made at any time or times, heretofore or hereafter, and each party to this Agreement and their successors and assigns shall look
solely to the other party to this Agreement’s assets (which, for purposes of Seller, is limited to Seller’s right,
title and interest in the Property) for the payment of any claim or for any performance, and each party, on behalf of itself and
its successors and assigns, hereby waives any and all such personal liability. The provisions of this Section 7.23 shall
survive Closing or any termination of this Agreement.

 

7.25
Illinois, Cook County, and City of Chicago Income Tax Withholding. Seller, at least fifteen (15) business days before the
Closing Date, shall notify the Illinois Department of Revenue, Cook County Department of Revenue, and the City of Chicago Department
of Revenue of the intended sale contemplated hereby and pursuant to Section 902(d) of the Illinois Income Tax Act, Section 5j
of the Retailers’ Occupation Tax Act, and Section 3-4-140 of the Uniform Revenue Procedures Ordinance of the City of Chicago,
and request the Illinois Department of Revenue, Cook County Department of Revenue, and the City of Chicago Department of Revenue
(the “Revenue Departments”) to make a determination as to whether Seller owes any tax, penalty or interest
due under the Illinois Income Tax Act, the Cook County Ordinance, or the City of Chicago Revenue Procedures Ordinance. Purchaser
shall cooperate and provide its EIN and any other information reasonably necessary for Seller to order such bulk sale stop orders.
The Title Company, as escrowee, shall withhold such portion of the Purchase Price as may be directed by the Revenue Departments,
and shall continue to hold said amount until Purchaser receives from the Revenue Departments a certificate or other written verification
showing that no unpaid tax, penalty or interest is due from Seller under the Illinois Income Tax Act, the Cook County Ordinance,
or the City of Chicago Revenue Procedure Ordinance in which event the Title Company shall pay the amount withheld to Seller or,
if earlier, if Purchaser receives a final determination from the Revenue Departments as to the actual amount of all taxes, penalties
and interest then due, such amounts shall be paid to the applicable Revenue Departments with any balance paid to Seller.

 

[SIGNATURE
PAGE FOLLOWS]

 

    	 	28	 

    	 

    

 

IN
WITNESS WHEREOF, Seller and Purchaser have executed this Agreement to be effective as of the Effective Date.

 

	 	SELLER:
	 	 	 
	 	BRIDGFORD
        FOOD PROCESSING 

        CORPORATION,
        a California corporation

	 	 	 
	 	By:	                       
	 	Name:	 
	 	Title:
    	 
	 	 	 
	 	PURCHASER:
	 	 	 
	 	CRG
        ACQUISITION, LLC, a Missouri

        limited
        liability company

	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:
    	 

 

    	 	 	 

    	 

    

 

Schedule
1.2(a)

 

LIST
OF ITEMS OF PERSONAL PROPERTY TO REMAIN AT PROPERTY

 

 

    	 	 	 

    	 

    

 

Schedule
2.2(a)

 

DUE
DILIGENCE DELIVERIES

 

	1.	Phase
    1 & 2 Environmental Site Assessments by Stantec;
	2.	Remediation
    action plan;
	3.	Submittal
    documents for the Property to the Illinois Environmental Protection Agency Voluntary Site Remediation Program;
	4.	Detailed
    plan for and status of Bridgford vacating the Property and decommissioning operations;
	5.	Current
    Survey;
	6.	Current
    ALTA Owner’s Policy of Title Insurance;
	7.	Traffic
    study from previous entitlement work;
	8.	Real
    property tax bills for the previous three (3) years; and
	9.	Service,
    management, and operations contracts related to the Property.

 

    	 	 	 

    	 

    

 

Exhibit
A

 

Legal
Description of Land

 

 

    	 	 	 

    	 

    

 

Exhibit
B

 

FORM
OF SPECIAL WARRANTY DEED

 

This
Instrument Prepared By

and
After Recording Return To:

 

SPECIAL
WARRANTY DEED

 

This
Deed, made this ____ day of ______________, 2020, between ______________________, a ___________________ (“Grantor”),
and _______________________________, a ______________________________ (“Grantee”), WITNESSETH, that
Grantor, for and in consideration of the sum of Ten Dollars ($10.00) and other good and valuable consideration in hand paid, by
Grantee, the receipt of which is hereby acknowledged, by these presents does REMISE, RELEASE, ALIENATE AND CONVEY unto the Grantee,
FOREVER, all the following described real estate, situated in the County of ______ and State of Illinois, known and described
as follows, to wit (the “Premises”):

 

See
Schedule 1 attached hereto and made a part hereof.

 

TO
HAVE AND TO HOLD the said Premises as described above unto the Grantee, forever.

 

And
Grantor, for itself and its successors, does covenant, promise and agree to and with Grantee and its successors that it has not
done or suffered to be done, anything whereby the said Premises hereby granted are, or may be, in any manner encumbered or charged,
except as herein recited; and that it WILL WARRANT AND DEFEND, said premises against all persons lawfully claiming, or to claim
the same, by, through or under Grantor, subject only to those matters listed on Schedule 2 attached hereto and made
a part hereof, but not otherwise, it being acknowledged that Grantor makes no other warranty or covenant in this special warranty
deed other than such special warranty of title to the Premises conveyed hereby.

 

    	 	 	 

    	 

    

 

IN
WITNESS WHEREOF, Grantor executed this Deed the day and year first above written.

 

	 	GRANTOR:

 

Send
Subsequent Tax Bills to:

 

	STATE
    OF ILLINOIS	)	 
	 	)	 
	COUNTY
    OF __________	)	 

 

This
instrument was acknowledged before me on the ________ day of _____________, 2014, by _____________________, ___________________________
of _____________________, a ____________________, on behalf of said company.

 

	 	 	_____________________________________________

        Notary
        Public in and for

        the
        State of ____________________________________

        Printed
        Name: __________________________________

	 

        My
        commission expires:

         

        _________________________
	 	 

 

    	 	 	 

    	 

    

 

Exhibit
C

 

FORM
OF BILL OF SALE AND ASSIGNMENT

 

BILL
OF SALE AND ASSIGNMENT

 

THIS
BILL OF SALE AND ASSIGNMENT (this “Assignment”) is made this ____ day of __________, 2020, (the “Effective
Date”) from _________________________, an ______________ (“Assignor”), to ___________, a _________________
(“Assignee”).

 

RECITALS:

 

WHEREAS,
concurrently with the execution and delivery of this Assignment, Assignor is conveying to Assignee, by Special Warranty Deed (the
“Deed”) that certain tract of land more particularly described on Exhibit A attached hereto (the “Land”),
together with all of the improvements located thereon (the “Improvements”).

 

WHEREAS,
in connection with the transfer of the Land and Improvements, Assignor desires to assign, transfer and convey to Assignee, and
Assignee desires to assume, the Assigned Property (as hereafter defined), subject to the terms and conditions set forth herein.

 

AGREEMENT:

 

NOW,
THEREFORE, in consideration of the above premises and for good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties agree as follows:

 

1.
Assignment. Subject to the terms and conditions set forth herein, Assignor does hereby sell, convey, assign and
transfer to Assignee, and Assignee does hereby purchase and assume from Assignor,
all of Assignor’s right, title and interest in and to all of the following described property (collectively, the “Assigned
Property”):

 

	 	(a)	All
    of Seller’s rights relating to the ownership of or use and operation of the Land, and all governmental licenses and
    permits, including without limitation certificates of occupancy associated with the Land (collectively, the “Intangible
    Property”); and
	 	 	 
	 	(b)	All
    of Assignor’s right, title and interest in and to all of the service contracts listed on Exhibit B attached hereto
    (collectively, the “Service Contracts”).

 

2.
Governing Law. This Assignment shall be governed by and construed in accordance with the internal laws of the state
in which the Assigned Property is located, without reference to the conflicts of laws or choice of law provisions thereof.

 

3.
Binding Effect. This Assignment shall be binding upon and shall inure to the benefit of the parties hereto and their
respective heirs, executors, administrators, legal representatives, successors and assigns.

 

4.
Counterparts. This Assignment may be executed in any number of counterparts, each of which shall be deemed to be
an original, but all of which, when taken together, shall constitute but one and the same instrument.

 

[SIGNATURE
PAGE FOLLOWS]

 

    	 	 	 

    	 

    

 

IN
WITNESS WHEREOF, Assignor and Assignee have executed this Assignment to be effective as of the Effective Date.

 

	 	 	ASSIGNOR:	 
	 	 	 	 
	 	 	 	 	,
	 	 	 		

 

	 	By:	                	 
	 	Name:	 	 
	 	Title:
    	 	 

 

	 	 	ASSIGNEE:	 
	 	 	 	 
	 	 	 	 	,
	 	 	 		

 

	 	By:	 	 
	 	Name:	 	 
	 	Title:
    	 	 

 

    	 	 	 

    	 

    

 

Exhibit
d

 

FORM
OF FIRPTA AFFIDAVIT

 

FIRPTA
AFFIDAVIT

 

	STATE OF ___________	§	
		§	KNOW ALL MEN BY THESE PRESENTS:
	COUNTY OF __________	§	

 

Section
1445 of the Internal Revenue Code provides that a transferee of a U.S. real property interest must withhold tax if the transferor
is a foreign person. To inform ______________________(“Transferee”), that withholding of tax is not required
upon the disposition of a U.S. real property interest by ______________________________ (“Transferor”), the
undersigned hereby certifies as follows:

 

1.
Transferor is not a foreign corporation, foreign partnership, foreign trust or foreign estate (as those terms are defined in the
Internal Revenue Code and Income Tax Regulations);

 

2.
Transferor’s U.S. employer identification number is: __________________________;

 

3.
Transferor’s office address is c/o __________________________________________.

 

Transferor
understands that this certification may be disclosed to the Internal Revenue Service by the Transferee and that any false statement
contained herein could be punished by fine, imprisonment, or both.

 

Under
penalties of perjury, the undersigned, in the capacity set forth below, hereby declares that he has examined this certification
and to his knowledge and belief it is true, correct, and complete, and the undersigned further declares that he has authority
to sign this document in such capacity.

 

[SIGNATURE
PAGE FOLLOWS]

 

    	 	 	 

    	 

    

 

EXECUTED
effective as of the  ______day of_____________, 2020.

 

	 	 	 	,
	 	 	 	 
	 	 	 	 
	 	By:	 	 
	 	Name:	 	 
	 	Title:
    	 	 

 

SWORN
TO AND SUBSCRIBED BEFORE ME this___ day of ______________, 2020.

 

	 	 	 
	 	Notary
    Public in and for the State of ________________	 
	 	 	 
	 	 	 
	 	Printed
    or Typed Name of Notary	 
	 	 	 
	 	My
    Commission Expires:_________________________ex_176898.htm

Exhibit 4.9

 

 

DESCRIPTION OF COMMON STOCK

 

The following summary description of our common stock is based on the provisions of our amended and restated certificate of incorporation, as amended from time to time, and amended and restated bylaws and the applicable provisions of the Delaware General Corporation Law. This information is qualified entirely by reference to the applicable provisions of our amended and restated certificate of incorporation, bylaws and the Delaware General Corporation Law.

 

General

 

Our authorized capital stock consists of (i) 100,000,000 shares of common stock, par value $0.10 per share and (ii) 5,000,000 shares of preferred stock, par value $0.10 per share.

 

The following is a summary of the material provisions of the common stock provided for in our amended and restated certificate of incorporation, as amended from time to time, and amended and restated bylaws.

 

Common Stock

 

Voting

 

Our common stock is entitled to one vote for each share held of record on all matters submitted to a vote of the stockholders, except that directors will be elected by a plurality of votes cast. Accordingly, the holders of a majority of the shares of common stock entitled to vote in any election of directors are able to elect all of the directors standing for election, if they so choose.

 

Dividends

 

Subject to preferences that may be applicable to any then outstanding preferred stock, the holders of common stock are entitled to receive dividends, if any, as may be declared from time to time by our board of directors out of legally available funds. We have never paid cash dividends and have no present intention to pay cash dividends.

 

Liquidation

 

In the event of a liquidation, dissolution or winding up, holders of our common stock will be entitled to share ratably in the net assets legally available for distribution to stockholders after the payment of all of our debts and other liabilities, subject to the satisfaction of any liquidation preference granted to the holders of any outstanding shares of preferred stock.

 

Rights and Preferences

 

Holders of our common stock have no preemptive, conversion or subscription rights, and there are no redemption or sinking fund provisions applicable to our common stock. The rights, preferences and privileges of the holders of our common stock are subject to, and may be adversely affected by, the rights of the holders of shares of any series of our preferred stock that we may designate and issue in the future.

 

Fully Paid and Nonassessable

 

All of our outstanding shares of common stock are fully paid and nonassessable.

 

Anti-Takeover Effects of Provisions of Our Charter Documents and Delaware Law

 

Delaware Anti-Takeover Law

 

We are subject to Section 203 of the DGCL, or Section 203. Section 203 generally prohibits a public Delaware corporation from engaging in a “business combination” with an “interested stockholder” for a period of three years after the date of the transaction in which the person became an interested stockholder, unless:

 

	 	
			●

				
			prior to the date of the transaction, the board of directors of the corporation approved either the business combination or the transaction which resulted in the stockholder becoming an interested stockholder;

			

 

	 	
			●

				
			the interested stockholder owned at least 85% of the voting stock of the corporation outstanding upon consummation of the transaction, excluding for purposes of determining the number of shares outstanding (1) shares owned by persons who are directors and also officers and (2) shares owned by employee stock plans in which employee participants do not have the right to determine confidentially whether shares held subject to the plan will be tendered in a tender or exchange offer; or

			

 

	 	
			●

				
			on or subsequent to the consummation of the transaction, the business combination is approved by the board and authorized at an annual or special meeting of stockholders, and not by written consent, by the affirmative vote of at least 662 ⁄ 3% of the outstanding voting stock which is not owned by the interested stockholder.

			

 

 

 

 

Section 203 defines a business combination to include:

 

	 	
			●

				
			any merger or consolidation involving the corporation and the interested stockholder;

			

 

	 	
			●

				
			any sale, transfer, pledge or other disposition involving the interested stockholder of 10% or more of the assets of the corporation;

			

 

	 	
			●

				
			subject to exceptions, any transaction involving the corporation that has the effect of increasing the proportionate share of the stock of any class or series of the corporation beneficially owned by the interested stockholder;

			

 

	 	
			●

				
			subject to exceptions, any transaction that results in the issuance or transfer by the corporation of any stock of the corporation to the interested stockholder; and

			

 

	 	
			●

				
			the receipt by the interested stockholder of the benefit of any loans, advances, guarantees, pledges or other financial benefits provided by or through the corporation.

			

 

In general, Section 203 defines an interested stockholder as any entity or person beneficially owning 15% or more of the outstanding voting stock of the corporation and any entity or person affiliated with or controlling or controlled by the entity or person.

 

Certificate of Incorporation and Bylaws

 

Provisions of our certificate of incorporation and bylaws may delay or discourage transactions involving an actual or potential change-in-control or change in our management, including transactions in which stockholders might otherwise receive a premium for their shares or transactions that our stockholders might otherwise deem to be in their best interests. Therefore, these provisions could adversely affect the price of our common stock. Among other things, our certificate of incorporation and bylaws:

 

	 	
			●

				
			permit our board of directors to issue up to 5,000,000 shares of preferred stock, with any rights, preferences and privileges as they may designate (including the right to approve an acquisition or other change in control);

			

 

	 	
			●

				
			provide that the authorized number of directors may be changed only by resolution adopted by a majority of the board of directors;

			

 

	 	
			●

				
			provide that all vacancies, including newly created directorships, may, except as otherwise required by law or subject to the rights of holders of preferred stock as designated from time to time, be filled by the affirmative vote of a majority of directors then in office, even if less than a quorum;

			

 

	 	
			●

				
			require that any action to be taken by our stockholders must be effected at a duly called annual or special meeting of stockholders or by action taken by written consent;

			

 

	 	
			●

				
			provide that stockholders seeking to present proposals before a meeting of stockholders or to nominate candidates for election as directors at a meeting of stockholders must provide notice in writing in a timely manner and also specify requirements as to the form and content of a stockholder’s notice; and

			

 

	 	
			●

				
			provide that special meetings of our stockholders may be called only by the chairman of the board, the president or by our board of directors pursuant to a resolution adopted by a majority of the total number of authorized directors (whether or not there exist any vacancies).

			

 

Nasdaq Capital Market Listing

 

Our common stock is listed on the Nasdaq Capital Market under the symbol “VXRT.”

 

Transfer Agent and Registrar

 

The transfer agent and registrar for our common stock is American Stock Transfer & Trust Company, LLC. The transfer agent and registrar’s address is 6201 15th Avenue, Brooklyn, New York 11219.

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