Document:

SECOND AMENDMENT TO

MORTGAGE WAREHOUSE LOAN AND SECURITY
AGREEMENT 

 

THIS SECOND AMENDMENT
TO MORTGAGE WAREHOUSE LOAN AND SECURITY AGREEMENT, dated as of December 27, 2012 (this “Amendment”), is by and
among Centerline Mortgage Capital Inc., a Delaware corporation having its principal place of business at 100 Church Street, 15th
Floor, New York, NY 10007 (“CMC”), Centerline Mortgage Partners Inc., a Delaware corporation having its principal
place of business at 100 Church Street, 15th Floor, New York, NY 10007 (“CMP” and together with CMC
collectively referred to as “Borrowers” and each individually as a “Borrower”), and Capital
One, National Association, with offices at Ten Post Office Square, 11th Floor, Boston, Massachusetts 02109 (the “Lender”).

 

R E C I
T A L S

 

A.The Lender
and the Borrowers are parties to that certain Mortgage Warehouse Loan and Security Agreement dated as of April 25, 2012, as amended
by letter agreement dated as of May 18, 2012, the First Amendment to Mortgage Warehouse Loan and Security Agreement dated as of
July 16, 2012, letter agreement dated as of August 6, 2012 and the letter agreement dated as of November 27, 2012, and as it may
be further amended, modified, supplemented and/or restated from time to time (the “Loan Agreement”),
pursuant to which the Lender makes Advances to the Borrowers secured by the Collateral. Capitalized terms used but not otherwise
defined herein shall have the meanings set forth in the Loan Agreement;

 

B.The Lender
and the Borrowers are parties to that certain Custody Agreement dated as of April 16, 2012 as it may be amended, modified, supplemented
and/or restated from time to time (the “Custody Agreement”);

 

C.The Borrowers
have requested (i) an increase in the Warehousing Commitment Amount by Fifty Million Dollars ($50,000,000) and (ii) certain modifications
to the Loan Agreement, and the Lender has agreed to such increase and modifications subject to the terms and conditions set forth
in this Amendment; and

 

D.The Lender
and the Borrowers each wish to amend the Loan Agreement and Custody Agreement all subject to the terms and conditions as more specifically
set forth herein.

 

NOW THEREFORE, for
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by the Lender and the Borrowers,
the Lender and the Borrowers agree as follows:

 

1.Loan
Agreement and Custody Agreement Amendments.

 

(a)Change
in Defined Terms. The following definitions in the Loan Agreement are hereby amended and restated in their entirety to read
as follows:

 

“Applicable
Interest Rate Spread” means the rate which shall be determined quarterly as follows: for any Calendar Quarter (or any
portion thereof), the Applicable Interest Rate Spread set forth in the chart below that corresponds in the chart below to the Deposit
Level Average of the prior Calendar Quarter (or any portion thereof),
provided that for the first Calendar Quarter (or any portion thereof) of the term of this Agreement, the Applicable Interest Rate
Spread shall mean (i) 1.90% as long as the Deposit Level Average during such period is $45,000,000 or greater, (ii) 2.40% if the
Deposit Level Average during such period is $22,500,000 to $44,999,999, and (iii) 2.90% if the Deposit Level Average during such
period is $0 to $22,499,000.

    	

    	 

    

 

	Deposit Level Average	Applicable Interest Rate Spread
	$45,000,000 or greater	1.90%
	$22,500,000 to $44,999,999	2.40%
	$0 to $22,499,000	2.90%

  

“Applicable
Nonusage Rate” means the rate which shall be determined quarterly as follows: for any Calendar Quarter (or any portion
thereof), the Applicable Nonusage Rate set forth in the chart below that corresponds in the chart below to the Deposit Level Average
of the prior Calendar Quarter (or any portion thereof), provided
that for the first Calendar Quarter (or portion thereof) of the term of this Agreement, the Applicable Nonusage Rate shall mean
(i) 0.15% as long as the Deposit Level Average during such period is $45,000,000 or greater, (ii) 0.65% if the Deposit Level Average
during such period is $22,500,000 to $44,999,999, and (iii) 1.15% if the Deposit Level Average during such period is $0 to $22,499,000.

 

	Deposit Level Average	Applicable Nonusage Rate
	$45,000,000 or greater	0.15%
	$22,500,000 to $44,999,999	0.65%
	$0 to $22,499,000	1.15%

  

“Warehousing
Commitment Amount” means $125,000,000.

 

(b)Expiration
of Warehousing Commitment. Section 1.2 of the Loan Agreement is hereby amended and restated in its entirety to read as follows:

 

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“The Warehousing
Commitment expires on the earlier of (“Maturity Date”): (a) December 27, 2013, as such date may be extended
in writing by Lender, in its sole discretion, on which date the Warehousing Commitment will expire of its own term and the Advances
will become due and payable without the necessity of Notice or action by Lender; or (b) the date the Warehousing Commitment is
terminated and the Advances become due and payable under Section 10.2(a) or (b). Notwithstanding the foregoing, the Borrowers may
terminate the Warehousing Commitment upon not less than thirty (30) days prior written Notice to the Lender.”

 

(c)Warehousing
Note. Section 1.3 of the Loan Agreement is hereby amended and restated in its entirety to read as follows:

 

“Advances
are evidenced by Borrowers’ promissory note, payable to Lender on the form prescribed by Lender (“Warehousing Note”).
The “Warehousing Note” as used in this Agreement means that certain Amended and Restated Warehousing Note dated as
of December 27, 2012 executed and delivered by the Borrowers payable to the order of Lender, in the principal face amount of $125,000,000,
as amended modified, and/or restated from time to time (the “Amended and Restated Warehousing Note”), and all amendments,
restatements, renewals and replacements of the original Warehousing Note and all substitutions for it. All terms and provisions
of the Warehousing Note are incorporated into this Agreement.”

 

(d)Non-Usage
Fees. Section 3.5(a) of the Loan Agreement is hereby amended and restated in its entirety to read as follows:

 

“At
the end of each Calendar Quarter during the term of this Agreement, Lender will determine the “Daily Unused Portion”
for such Calendar Quarter (or applicable portion thereof), by (i) determining for each day during the applicable period the difference
between (x) the Warehousing Commitment Amount on each such day, minus (y) the aggregate principal amount of outstanding Advances
on each such day, (ii) summing the results of the preceding determinations for each day in the applicable period, and (iii) dividing
the sum of such daily determinations by the number of days in the applicable period. Borrowers must pay to Lender a fee (“Non-Usage
Fee”) in the amount of the Applicable Nonusage Rate per annum of the Daily Unused Portion for such Calendar Quarter.
The Non-Usage Fee is payable quarterly, in arrears on the second (2nd) Business Day of the month following the last day of each
Calendar Quarter. Lender computes the Non-Usage Fee on the basis of the actual number of days in each Calendar Quarter and a year
of 360 days. If the date set forth in clause (a) of the definition of Maturity Date occurs on a day other than the last day of
a Calendar Quarter, Borrowers must pay the prorated portion of the Non-Usage Fee due from the beginning of the then current Calendar
Quarter to and including that date.”

 

(e)Escrow
Deposits. Section 7.15 of the Loan Agreement is hereby amended and restated in its entirety to read as follows:

 

“7.15Maintenance of Escrow
Deposits

 

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Borrowers
shall maintain average deposit balances at Lender of at least $45,000,000 (Forty-Five Million Dollars) (the “Minimum Deposit
Target”), provided that the sole remedy of the Lender for the Borrowers’ failure to satisfy the Minimum Deposit Target
shall be an increase in the Applicable Interest Rate Spread and the Applicable Nonusage Rate as provided herein. Such deposits
shall be subject to Lender’s standard terms and conditions applicable to Third Party Deposit Accounts.”

 

(f)Liquidity.
Section 8.11 of the Loan Agreement is hereby amended and restated in its entirety to read as follows:

 

“8.11Liquidity

 

Permit CMC’s
Liquid Assets (calculated on a consolidated basis with its Subsidiaries) at any time to be less than $6,800,000, or permit Borrowers
to fail to maintain compliance with all then applicable Freddie Mac, Fannie Mae, Ginnie Mae, and HUD liquidity requirements.

 

Permit CMP’s
Liquid Assets (calculated on a consolidated basis with its Subsidiaries) at any time to be less than $200,000, or permit Borrowers
to fail to maintain compliance with all then applicable Freddie Mac, Fannie Mae, Ginnie Mae, and HUD liquidity requirements.”

 

(g)Change
in Exhibits to Custody Agreement and Loan Agreement. The following exhibits to the Custody Agreement and Loan Agreement are
hereby amended and restated, and from and after the date of this Amendment any reference to such exhibits in the Custody Agreement
and Loan Agreement shall be deemed a reference to such exhibits as attached to this Amendment:

 

(i)Exhibit
A of the Custody Agreement is hereby deleted in its entirety and replaced with the Exhibit A attached hereto.

 

(ii)Exhibit
C of the Loan Agreement is hereby deleted in its entirety and replaced with the Exhibit C attached hereto.

 

(iii)Exhibit
K of the Loan Agreement is hereby deleted in its entirety and replaced with the Exhibit K attached hereto.

 

2.Miscellaneous.

 

(a)Condition
Precedent. This Amendment shall become effective upon:

 

(i)the execution
and delivery of this Amendment by the Borrowers and the Lender;

 

(ii)The execution
and delivery of the Amended and Restated Warehousing Note substantially in the form attached hereto as Exhibit A;

 

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(iii)The execution
and delivery of that certain letter agreement dated as of the date hereof with respect to certain fees by the Borrowers and agreed
to and accepted by the Lender (the “Fee Letter”).

 

(iv)The Borrowers
shall have paid to the Lender the fees in immediately available funds in the amount stated in the Fee Letter. The Borrowers acknowledge
that such fees shall be paid in addition to the Nonusage Fee due and payable in accordance with Section 3.5 of the Loan Agreement
during the term of the Loan;

 

(v)the Borrowers
shall have delivered to the Lender a closing certificate of a senior officer of each Borrower certifying the following, all in
form and substance reasonably satisfactory to the Lender: (A) as to the Articles of Incorporation and By-Laws, with all amendments;
(B) as to the incumbency and signatures of the officer or officers executing this Amendment and the Amended and Restated Warehousing
Note and any other documents contemplated thereby; (C) as to the resolutions related thereto; and (D) as to the good standing and
legal existence certificate of each Borrower dated no earlier than thirty (30) days prior to the date of this Amendment;

 

(vi)a legal
opinion of counsel to the Borrowers, dated as of the date hereof, addressed to and in form and substance reasonably satisfactory
to the Lender and its counsel; and

 

(vii)the payment
by the Borrowers of the Lender’s reasonable attorneys’ fees and expenses related to the preparation, negotiation and
closing of this Amendment.

 

(b)Release
of Claims. Each Borrower hereby releases, waives and forever relinquishes all claims, demands, obligations, liabilities and
causes of action of whatever kind or nature, whether known or unknown, which it has, may have, or might assert now or in the future
against the Lender and/or the Lender’s affiliates, participants, affiliates, officers, directors, employees, agents, attorneys,
accountants, consultants, successors and assigns, directly or indirectly, arising out of, based upon, or in any manner connected
with (i) any transaction, event, circumstance, action, failure to act or occurrence of any sort or type, whether known or unknown,
which occurred, existed, was taken, permitted or begun prior to the execution of this Amendment with respect to the Obligations,
the Loan Documents and/or the administration thereof or the obligations created thereby; (ii) any discussions, commitments, negotiations,
conversations or communications with respect to the refinancing, restructuring or collection of any Obligations; or (iii) any thing
or matter related to any of the foregoing. The inclusion of this paragraph in this Amendment, and the execution of this Amendment
by the Lender, does not constitute an acknowledgment or admission by the Lender of liability for any matter, or a precedent upon
which liability may be asserted.

 

(c)Amendment
as Loan Document. Each party hereto agrees and acknowledges that this Amendment is a part of the Loan Agreement and constitutes
a “Loan Document” under and as defined in the Loan Agreement.

 

(d)Existing
Loan Documents. Unless specifically modified hereby, all terms and provisions of the Loan
Agreement and the other Loan Documents shall remain in full force and effect in accordance with their terms and are hereby ratified
and confirmed.

 

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(e)Confirmation
of Representations, Warranties and Covenants. Each Borrower hereby confirms and represents and warrants that: (i) this
Amendment and the Amended and Restated Warehousing Note constitute the legal, valid and binding obligation of each Borrower enforceable
against each Borrower in accordance with their terms; (ii) the execution and delivery of, and performance under, this Amendment
and the Amended and Restated Warehousing Note are within each Borrower’s power and authority without the joinder or consent
of any other party or governmental approval and have been duly authorized by all requisite action, and are not in contravention
of any law, or of either Borrower’s articles of incorporation, bylaws or other organizational documents, or of any indenture,
agreement or undertaking to which either Borrower is a party or by which it is bound; (iii) that there are no actions, suits,
or proceedings pending or threatened against or affecting either Borrower which if adversely determined, individually or in the
aggregate, would materially adversely affect the obligations of the Borrowers under the Loan Documents; (iv) that there has been
no material adverse change in either Borrower’s financial condition from the financial statements submitted to the Lender
and that such financial statements fairly present in all material respects the financial condition of the Borrowers in accordance
with GAAP as of the date hereof; (v) all representations, warranties and covenants made in the Loan Agreement, and the other Loan
Documents remain true and correct as of the date hereof, except as to matters which speak to a specific date; and (vi) there have
occurred no unwaived Defaults or Events of Default under the Loan Agreement and the other Loan Documents which are continuing as
of the date hereof.

 

(f)Governing
Law. This Amendment shall be construed in accordance with and governed by the law of the Commonwealth of Massachusetts.

 

(g)Counterparts.
This Amendment may be executed in any number of counterparts, all of which constitute one and the same instrument.

 

[Remainder
of the page intentionally left blank; signatures appear on next page] 

 

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in
witness whereof, the undersigned have executed and delivered this Amendment as an instrument under seal as of the date first
set forth above.

 

 

CENTERLINE MORTGAGE CAPITAL INC.,
as Borrower

 

 

By: /s/ Michael P.
Larsen

Name: Michael P. Larsen

Title: Chief Financial
Officer

 

 

CENTERLINE MORTGAGE PARTNERS INC.,
as Borrower

 

 

By: /s/ Michael P.
Larsen

Name: Michael P. Larsen

Title: Chief Financial
Officer

 

 

CAPITAL ONE, NATIONAL ASSOCIATION, as Lender

 

 

 

By: /s/ Filomena R. Cerqueira

Name: Filomena R. Cerqueira

Title: Senior Vice President

 

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Exhibit
A

 

AMENDED AND RESTATED WAREHOUSING NOTE

(this “Note”)

  

$125,000,000

December 27, 2012

 

This Amended and Restated Warehousing Note
is an amendment to and restatement, renewal and replacement of that certain Warehousing Note dated as of April 25, 2012 from the
Borrowers (as that term is defined below) to the Lender (as that term is defined below) in the principal amount of Seventy-Five
Million and 00/100 Dollars ($75,000,000).

 

FOR VALUE RECEIVED,
the undersigned, CENTERLINE MORTGAGE CAPITAL INC., a Delaware corporation (“CMC”) and CENTERLINE MORTGAGE
PARTNERS INC., a Delaware corporation (“CMP”) (CMC and CMP are collectively referred to herein as “Borrowers”)
jointly and severally promise to pay to the order of CAPITAL ONE, NATIONAL ASSOCIATION (“Lender”), a
national banking association, at its place of business at Ten Post Office Square, 11th Floor, Boston, Massachusetts
02109, or at such other place as Lender or the then holder of this Note may designate from time to time, (i) the principal sum
of One Hundred Twenty-Five Million Dollars ($125,000,000), or so much thereof as may be outstanding under the Agreement (as that
term is defined below), (ii) interest on that amount from the date of each Advance until repaid in full, and (iii) all other fees,
charges and other Obligations due under the Agreement (including reasonable attorneys’ fees and expenses incurred in connection
with the collection of this Note), at the rates, at the times, and in the manner set forth in the Agreement. It being understood
that Borrowers shall be jointly and severally liable for all Advances made by Lender to Borrowers under the Agreement and all other
obligations of the Borrowers under this Note. All payments under this Note and the Agreement must be made in lawful money of the
United States and in immediately available funds.

 

This Note evidences
a line of credit and is the Warehousing Note referred to in that certain Mortgage Warehouse Loan and Security Agreement among Borrowers
and Lender dated as of April 25, 2012, as amended by letter agreement dated as of May 18, 2012, the First Amendment to Mortgage
Warehouse Loan and Security Agreement dated as of July 16, 2012, letter agreement dated as of August 6, 2012 and the letter agreement
dated as of November 27, 2012 (hereinafter, as the same may be modified, amended or restated from time to time, the “Agreement”).
Reference is made to the Agreement (which is incorporated by reference as fully and with the same effect as if set forth at length
in this Note) for a description of the Collateral and a statement of (a) the covenants and agreements made by Borrowers, (b) the
rights and remedies granted to Lender, and (c) the other matters governed by the Agreement. Capitalized terms not otherwise defined
in this Note have the meanings set forth in the Agreement.

 

The principal of, and
interest on, this Note shall be payable as provided in the Agreement and shall be subject to acceleration as provided therein.
Upon the occurrence and during the continuance of an Event of Default, Lender shall have, in addition to any rights and remedies
contained herein, any and all rights and remedies set forth in the Agreement or any other Loan Documents.

 

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Each
and every party liable hereon or for the indebtedness evidenced hereby whether as maker or endorser hereby: (a) waives presentment,
demand, protest, suretyship defenses and defenses in the nature thereof; (b) waives any defenses based upon and specifically assents
to any and all extensions and postponements of the time for payment, changes in terms and conditions and all other indulgences
and forbearances which may be granted by Lender or the holder to any party now or hereafter liable hereunder or for the indebtedness
evidenced hereby; (c) agrees to any substitution, exchange, release, surrender or other delivery of any security or collateral
now or hereafter held hereunder or in connection with the Agreement, or any of the other Loan Documents, and to the addition or
release of any other party or person primarily or secondarily liable; (d) agrees that if any security or collateral given to secure
this Note or the indebtedness evidenced hereby or to secure any of the obligations set forth or referred to in the Agreement, or
any of the other Loan Documents, shall be found to be unenforceable in full or to any extent, or if Lender or any other party shall
fail to duly perfect or protect such collateral, the same shall not relieve or release any party liable hereon or thereon nor vitiate
any other security or collateral given for any obligations evidenced hereby or thereby; (e) agrees to pay all reasonable costs
and expenses actually incurred by Lender or any other holder of this Note in connection with the indebtedness evidenced hereby
pursuant to the Agreement, including, without limitation, all reasonable attorneys’ fees and costs, for the implementation
of the Loan, the collection of the indebtedness evidenced hereby and the enforcement of rights and remedies hereunder or under
the other Loan Documents, whether or not suit is instituted; and (f) consents to all of the terms and conditions contained in this
Note, the Agreement, and all other instruments now or hereafter executed evidencing or governing all or any portion of the security
or collateral for this Note and for such Agreement, or any one or more of the other Loan Documents.

 

No delay or omission
on the part of Lender or the holder in exercising any right hereunder or any right under any instrument or agreement now or hereafter
executed in connection herewith, or any agreement or instrument which is given or may be given to secure the indebtedness evidenced
hereby or by the Agreement, or any other agreement now or hereafter executed in connection herewith or therewith shall operate
as a waiver of any such right or of any other right of such holder, nor shall any delay, omission or waiver on any one occasion
be deemed to be a bar to or waiver of the same or of any other right on any future occasion.

 

The invalidity or unenforceability
of any provision hereof, of the Agreement, of the other Loan Documents, or of any other instrument, agreement or document now or
hereafter executed in connection with the Loan made pursuant hereto and thereto shall not impair or vitiate any other provision
of any of such instruments, agreements and documents, all of which provisions shall be enforceable to the fullest extent now or
hereafter permitted by law.

 

All agreements among
Borrowers and Lender are hereby expressly limited so that in no contingency or event whatsoever, whether by reason of acceleration
of maturity of the indebtedness evidenced hereby or otherwise, shall the amount paid or agreed to be paid to Lender for the use
or the forbearance of the indebtedness evidenced hereby exceed the maximum permissible under applicable law. As used herein, the
term “applicable law”, shall mean the law in effect as of the date hereof, provided, however, that in
the event there is a change in the law which results in a higher permissible rate of interest, then this Note shall be governed
by such new law as of its effective date. In this regard, it is expressly agreed that it is the intent of Borrowers and Lender
in the execution, delivery and acceptance of this Note to contract in strict compliance with the laws of the State of New York
from time to time in effect. If, under or from any circumstances whatsoever, fulfillment of any provision hereof or of any of the
Loan Documents at the time performance of such provision shall be due, shall involve transcending the limit of validity prescribed
by applicable law, then the obligation to be fulfilled shall automatically be reduced to the limit of such validity, and if under
or from any circumstances whatsoever Lender should ever receive as interest an amount which would exceed the highest lawful rate,
such amount which would be excessive interest shall be applied to the reduction of the principal balance evidenced hereby and not
to the payment of interest. This provision shall control every other provision of all agreements among Borrowers and Lender.

 

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All proceeds of the
Loan shall be used solely for the purposes more particularly provided for and limited by the Agreement.

 

Any notices given with
respect to this Note shall be given in the manner provided for in the Agreement.

 

BORROWERS AGREE THAT
ANY SUIT FOR THE ENFORCEMENT OF THIS NOTE OR ANY OF THE OTHER LOAN DOCUMENTS MAY BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK
OR ANY FEDERAL COURT SITTING THEREIN AND CONSENT TO THE NONEXCLUSIVE JURISDICTION OF SUCH COURT AND THE SERVICE OF PROCESS IN ANY
SUCH SUIT BEING MADE UPON BORROWERS BY MAIL AT THE ADDRESS SPECIFIED IN SECTION 11.1 OF THE AGREEMENT. BORROWERS HEREBY WAIVE ANY
OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE VENUE OF ANY SUCH SUIT OR ANY SUCH COURT OR THAT SUCH SUIT IS BROUGHT IN AN
INCONVENIENT COURT.

 

BORROWERS AND LENDER
(BY ACCEPTANCE OF THIS NOTE) MUTUALLY HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE THE RIGHT TO A TRIAL BY JURY IN RESPECT
OF ANY LITIGATION BASED HEREON, ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS NOTE OR ANY OTHER LOAN DOCUMENTS CONTEMPLATED
TO BE EXECUTED IN CONNECTION HEREWITH, OR ANY COURSE OF CONDUCT, COURSE OF DEALINGS, STATEMENTS (WHETHER VERBAL OR WRITTEN) OR
ACTIONS OF ANY PARTY, INCLUDING, WITHOUT LIMITATION, ANY COURSE OF CONDUCT, COURSE OF DEALINGS, STATEMENTS OR ACTIONS OF LENDER
RELATING TO THE ADMINISTRATION OF THE LOAN OR ENFORCEMENT OF THE LOAN DOCUMENTS, AND AGREE THAT NEITHER PARTY WILL SEEK TO CONSOLIDATE
ANY SUCH ACTION WITH ANY OTHER ACTION IN WHICH A JURY TRIAL CANNOT BE OR HAS NOT BEEN WAIVED. EXCEPT AS PROHIBITED BY LAW, BORROWERS
HEREBY WAIVE ANY RIGHT IT MAY HAVE TO CLAIM OR RECOVER IN ANY LITIGATION ANY SPECIAL, EXEMPLARY, PUNITIVE OR CONSEQUENTIAL DAMAGES
OR ANY DAMAGES OTHER THAN, OR IN ADDITION TO, ACTUAL DAMAGES. BORROWERS CERTIFY THAT NEITHER LENDER, NOR ANY REPRESENTATIVE, AGENT
OR ATTORNEY OF LENDER HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT LENDER WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE
THE FOREGOING WAIVER. THIS WAIVER CONSTITUTES A MATERIAL INDUCEMENT FOR LENDER TO ACCEPT THIS NOTE AND MAKE THE LOAN.

 

This Note and the other
Loan Documents may only be amended, terminated, extended or otherwise modified by a writing signed by Borrowers and Lender in accordance
with the terms and conditions of the Agreement. In no event shall any oral agreements, promises, actions, inactions, knowledge,
course of conduct, course of dealing, or the like be effective to amend, terminate, extend or otherwise modify this Note or any
of the other Loan Documents.

 

This Note is governed
by the laws of the State of New York, without reference to its principles of conflicts of laws, as an instrument under seal. 

 

[Signature Page Follows]

 

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IN WITNESS WHEREOF,
the undersigned has caused this Note to be duly executed as of the day and year first above written as a sealed instrument.

 

 

CENTERLINE MORTGAGE CAPITAL
INC., a Delaware corporation 

 

By: /s/ Michael P.
Larsen

Name: Michael P. Larsen

Title: Chief Financial
Officer

 

 

CENTERLINE MORTGAGE PARTNERS
INC., a Delaware corporation 

 

By: /s/ Michael P.
Larsen

Name: Michael P. Larsen

Title: Chief Financial
Officer

    	11Exhibit 10.1 

Execution Copy 

COMMON STOCK AND WARRANT 

PURCHASE AGREEMENT

 

THIS COMMON STOCK AND
WARRANT PURCHASE AGREEMENT (this “Agreement”) is made as of the 28th day of December, 2012
by and among COUPON EXPRESS, INC., a Nevada corporation (the “Company”), and FUTURE FARM TRUST,
a trust organized under the laws of Michigan with its principal address at 11304 Marquette Drive, New Buffalo MI 49117 (the “Purchaser”).

WHEREAS, the Company desires
to issue and sell, and Purchaser desires to purchase, common stock, par value $0.001, of the Company (the “Common Stock”)
and warrants to purchase Common Stock, of the Company in substantially the form attached to this Agreement as Exhibit A
(the “Warrants”). The Common Stock and the Warrants are collectively referred to herein as the “Securities.”

NOW, THEREFORE, IN CONSIDERATION
of the mutual covenants contained in this Agreement, and for other good and valuable consideration the receipt and adequacy of
which are hereby acknowledged, the parties hereto agree as follows:

1.                 
Purchase and Sale of Common Stock and Warrants.

1.1.           
Sale and Issuance of Common Stock and Warrants.

(a)     
Subject to the terms and conditions of this Agreement, the Purchaser agrees to purchase at the Closing, and the Company
agrees to sell and issue to the Purchaser at the Closing, (i) 6,835,900 shares of Common Stock and (ii) Warrants to purchase 5,649,500
shares of Common Stock. The aggregate purchase price (the “Purchase Price”) for the Common Stock and Warrants
shall be $112,990.00.

(b)     
 The Purchaser has hereby delivered and paid concurrently herewith the aggregate Purchase Price set forth on the
applicable signature page hereof required to purchase the Common Stock and Warrants subscribed for hereunder, which amount has
been paid in U.S. Dollars by cash, wire transfer or check, subject to collection, to the order of the Company.

1.2.           
Closing; Delivery.

(a)  
            
The initial purchase and sale of the Common Stock and Warrants hereunder shall take place remotely via the exchange
of documents and signatures, at 12:00 p.m. Eastern Time on the date hereof, or at such other
time and place as the Company and the Purchaser mutually
agree upon, orally or in writing (which time(s) and place(s) are each designated as the “Closing”).

(b)       
       
At the Closing, the Company shall deliver to the Purchaser the Common Stock and Warrant to be purchased by
the Purchaser against (1) payment of the applicable Purchase Price therefore by check payable to the Company or by wire transfer
to a bank designated by the Company, and (2) delivery of counterpart signature

page to the Warrants.

1.3.           
Use of Proceeds. In accordance with the Company’s budget approved by the Company's Board of Directors,
the Company will use the proceeds from the sale of the Common Stock and Warrants hereunder solely (a) to fund general corporate
expenses of the Company in the ordinary course of business; (b) to fund certain capital expenditures of the Company, however, it
will not be used for purchasing of kiosks; and (c) to fund working capital for sales and marketing of the Company

1.4.           
Defined Terms Used in this Agreement. In addition to the terms defined elsewhere in this Agreement, the following
terms shall have the meanings set forth in this Section 1.4:

“Agreement”
shall have the meaning set forth in the preamble to this Agreement.

“Affiliate”
means, with respect to any specified Person, any other Person who, directly or indirectly, controls, is controlled by, or is under
common control with such Person, including, without limitation, any general partner, managing member, officer or director of such
Person that is controlled by one or more general partners or managing members of, or shares the same management company with, such
Person.

“Amended Certificate”
means the Amended Certificate of Incorporation of the Company filed with the Secretary of State of Nevada.

“Closing”
shall have the meaning set forth in Section 1.2(a).

“Company”
shall have the meaning set forth in the preamble to this Agreement.

“Code”
means the Internal Revenue Code of 1986, as amended.

“Common Stock”
shall have the meaning set forth in the recital to this Agreement.

“Company Intellectual
Property” means all patents, trademarks, service marks, tradenames, copyrights, licenses, software, slogans, domain names
and other similar intangible assets (including any and all applications, registrations, extensions and renewals relating thereto),
and all of the rights, benefits and privileges associated therewith, that are used by or are material to the Company.

“Disclosure Schedule”
shall have the meaning set forth in Section 2.

“Exchange Act”
means the Securities Exchange Act of 1934, as amended.

“Key Employee”
means each of the Company's Chief Executive Officer and the employees set forth in Section 1.4 of the Disclosure Schedule.

2

“Knowledge,”
including the phrase “to the Company's knowledge,” shall mean the actual knowledge of the Company's officers
and directors with the assumption that such officers and directors have made inquiry of the matters presented that is reasonable
in the context of a development stage company with a limited number of employees.

“Lien”
means any lien, charge, encumbrance, security interest, right of first refusal, preemptive right or other restrictions of any kind.

“Material Adverse
Effect” shall have the meaning set forth in Section 2.1.

“Note”
shall have the meaning set forth in the recital to this Agreement.

“Person”
means any individual, corporation, partnership, trust, limited liability company, association, joint venture, government (or
an agency or subdivision thereof) or other entity of any kind.

“Preferred Stock”
shall have the meaning set forth in Section 2.2(b).

“Purchase Price”
shall have the meaning set forth in Section 1.1(a).

“Purchaser”
shall have the meaning set forth in the preamble to this Agreement.

“Sarbanes Oxley”
shall have the meaning set forth in Section 2.6.

“SEC”
means the Securities and Exchange Commission.

“Securities”
shall have the meaning set forth in the recitals.

“Securities Act”
means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

“Series A Preferred
Stock” shall have the meaning set forth in Section 2.2(b).

“Stock Plan”
shall have the meaning set forth in Section 2.2(d).

“Trading Market”
means whichever of The New York Stock Exchange, The American Stock Exchange, the NASDAQ Global Market, the NASDAQ Capital Market,
the OTC Bulletin Board or other principal market on which the Common Stock is listed or quoted for trading on the date in question.

“Transaction
Documents” means this Agreement, the Warrants and all other documents and agreements executed in connection with the
transactions contemplated hereunder. 

3

 

“Warrant”
shall have the meaning set forth in the recital to this Agreement.

2.                 
Representations and Warranties of the Company. The Company hereby represents and warrants to the Purchaser
that, except as set forth on the Disclosure Schedule attached as Exhibit B to this Agreement (the “Disclosure
Schedule”), which exceptions shall be deemed to be part of the representations and warranties made hereunder, the following
representations and warranties are true and complete as of the date of the Closing, except as otherwise indicated. The Disclosure
Schedule shall be arranged in sections corresponding to the numbered and lettered sections and subsections contained in this Section
2, and the disclosures in any section or subsection of the Disclosure Schedule shall qualify other sections and subsections in
this Section 2 only to the extent it is readily apparent from a reading of the disclosure that such disclosure is applicable to
such other sections and subsections.

2.1.           
Organization, Good Standing, Corporate Power and Qualification. The Company is corporation duly organized,
validly existing and in good standing under the laws of the State of Nevada and has all requisite corporate power and authority
to own and use its properties and assets and to carry on its business as presently conducted
and as proposed to be conducted. The Company is duly qualified to transact business and is in good standing in each jurisdiction
in which the failure to so qualify could (i) have a material adverse effect on the legality, validity or enforceability of any
Transaction Document, (ii) have a material adverse effect on the results of operations, assets, prospects, business or condition
(financial or otherwise) of the Company or (iii) adversely affect the Company’s ability to perform on a timely basis
its obligations under any Transaction Document (any of (i), (ii) or (iii), a “Material Adverse Effect”). No
proceeding has been initiated in any such jurisdiction revoking, limiting or curtailing or
seeking to revoke, limit or curtail such power and authority or qualification.

2.2.           
Capitalization. The authorized capital of the Company will consist,
immediately prior to the Closing, of:

(a)              
800,000,000 shares of Common Stock, 271,802,685 shares of which are issued and outstanding immediately prior to the
Closing. All of the outstanding shares of Common Stock have been duly authorized, duly and validly issued, fully paid and nonassessable
and were issued in compliance with all applicable federal and state securities laws.

(b)              
5,000,000 shares of preferred stock, par value $0.001 per share (“Preferred Stock”), one hundred
twenty (120) of which have been designated Series A Preferred Stock (“Series A Preferred Stock”), all of which
are issued and outstanding. The rights, privileges and preferences of the Preferred Stock are as stated in the Amended Certificate
and as provided by the Nevada General Corporation Law.

(c)              
The Company has reserved (i) 150,000,000 shares of Common Stock for issuance upon exercise of the warrants issued
in 2011 and 2012, (ii) 150,000,000 shares of Common Stock for issuance upon conversion of the Series A Preferred Stock, (iii) 104,978,742
shares of Common Stock for issuance upon exercise of outstanding warrants issued prior to 2011 and (iv) 5,649,500 shares of Common
Stock for issuance upon exercise of the Warrants.

4

 

(d)              
The Company has reserved 20,000,000 shares of Common Stock for issuance to officers, directors, employees and consultants
of the Company pursuant to its 2011 Non-Qualified Stock Option Plan duly adopted by the Board of Directors, subject to the approval
by the Company stockholders (the “Stock Plan”). No options have been granted under the Stock Plan.

(e)              
The offers and sales of each of the outstanding securities of the Company were at all relevant times either registered
under the Securities Act and the applicable state securities or blue sky laws or, based in part on the representations and warranties
of the purchasers of such securities, exempt from such registration requirements.

2.3.           
 Subsidiaries. The Company does not own or control, directly or indirectly, any interest in any Person and
is not a participant in any joint venture, partnership or similar arrangement.

2.4.           
Authorization. The Company has the requisite corporate power and authority to enter into and to consummate
the transactions contemplated by each of the Transaction Documents and otherwise carry out its obligations hereunder and thereunder.
All corporate action required to be taken by the Company's Board of Directors and stockholders in order to authorize the Company
to execute and deliver each of the Transaction Documents and to consummate the transactions contemplated hereby and thereby, including
but not limited to the sale and issuance of the Common Stock and Warrants at the Closing and the Common Stock issuable upon the
conversion or exercise of the Warrants has been taken and no further action is required by the Company, the Board of Directors
or the Company's stockholders in connection therewith. Each Transaction Document, to which the Company is a party has been (or
upon delivery will have been) duly executed by the Company and, when delivered in accordance with the terms hereof and thereof,
shall constitute valid and legally binding obligations of the Company, enforceable against the Company in accordance with their
respective terms except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance,
or other laws of general application relating to or affecting the enforcement of creditors' rights generally, (ii) as the enforcement
thereof may be limited by laws relating to the availability of specific performance, injunctive relief, or other equitable remedies.

2.5.           
Valid Issuance of Securities. The Common Stock and Warrants are duly authorized and, when issued, paid for
and delivered in accordance with the terms and for the consideration set forth in this Agreement, will be duly and validly issued,
fully paid and nonassessable, and upon execution of a Waiver and Consent dated of even date herewith by and between the Company
and NextLevel VIII, LLC, free and clear of all Liens other than restrictions on transfer under the Transaction Documents and applicable
state and federal securities laws. Assuming the accuracy of the representations and warranties of the Purchaser in Section 3 of
this Agreement, the Common Stock and Warrants will be sold and issued in compliance with all applicable federal and state securities
laws. The Common Stock issuable upon conversion or exercise of the Warrants have been duly authorized and duly reserved for issuance,
and upon issuance in accordance with the terms of the Amended Certificate, will be duly and

5

validly issued,
fully paid and nonassessable and free and clear of all Liens other than restrictions on transfer under the Transaction Documents
and applicable federal and state securities laws. Based in part upon the representations and warranties of the Purchaser in Section
3 of this Agreement below, the Common Stock issuable upon conversion or exercise of the Securities will be issued in compliance
with all applicable federal and state securities laws.

2.6.           
Litigation. Except as set forth in Section 2.6 of the Disclosure Schedule, there is no claim, action, suit,
inquiry, proceeding, arbitration, complaint, charge or investigation pending or, to the Company's knowledge, threatened, (i) against
or affecting the Company, its properties and assets or any officer, director or any Key Employee of the Company; (ii) that questions
the legality, validity or enforceability of any of the Transaction Documents or the right of the Company to enter into them, or
to consummate the transactions contemplated by the Transaction Documents, including, without limitation the issuance or sale of
the Securities; or (iii) that could reasonably be expected to have, either individually or in the aggregate, a Material Adverse
Effect. Neither the Company nor, to the Company's knowledge, any of its officers, directors or any Key Employee is a party or is
named as subject to the provisions of any order, writ, injunction, judgment or decree of any court or government agency or instrumentality
(in the case of officers, directors or any Key Employee, such as could have a Material Adverse Effect). There is no claim, action,
suit, inquiry, proceeding, arbitration, complaint, charge or investigation by the Company pending or which the Company intends
to initiate. The foregoing includes, without limitation, claims, actions, suits, inquiries, proceedings, arbitration, complaints,
charges or investigations pending or, to the Company’s knowledge, threatened involving the prior employment of any of the
Company's employees, such employee’s services provided in connection with such employment, or any information or techniques
allegedly proprietary to any of such employee’s prior employers, or such employee’s obligations under any agreements
with any of such employee’s prior employers. Neither the Company nor any of its directors or officers, is or has been the
subject of any action involving a claim of violation of or liability under federal or state securities laws or a claim of breach
of fiduciary duty. There has not been, and to the Company’s knowledge, there is not pending or contemplated, any investigation
by the SEC involving the Company or any current or former director or officer of the Company. The SEC has not issued any stop order
or other order suspending the effectiveness of any registration statement filed by the Company under the Exchange Act or the Securities
Act. No attorney representing the Company, whether or not employed by the Company, has reported evidence of a material violation
of securities laws, breach of fiduciary duty or similar violation by the Company or any of its officers, directors, employees or
agents to the Company’s Board of Directors or any committee thereof or to any director or officer of the Company pursuant
to Section 307 of the Sarbanes-Oxley Act of 2002, as amended (“Sarbanes Oxley”), and the SEC’s
rules and regulations promulgated thereunder, and the Company is and, at all times has been in material compliance with all provisions
of Sarbanes Oxley which are and have been applicable to it. Since October 31, 2010, there have been no internal investigations
regarding accounting or revenue recognition discussed with, reviewed by or initiated at the direction of the Company’s chief
executive officer, principal financial officer, the board or any committee thereof.

2.7.           
Intellectual Property. Section 2.7 of the Disclosure Schedule sets forth as of the date hereof, a true and
complete list of the Company Intellectual Property.

6

The Company owns,
or has valid and enforceable licenses for, or other enforceable rights to use, the Company Intellectual Property that is used by
or is material to the Company, except where the failure to own, license or have such enforceable rights could not, individually
or in the aggregate, reasonably be expected to have a Material Adverse Effect. No Person has, to the Company's knowledge, rights
to any Company Intellectual Property, except for, and to the extent of, the ownership rights of the owners of the Company Intellectual
Property that is licensed to the Company and the license rights of any third parties to which any of the Company Intellectual Property
is licensed. To the Company's knowledge, there is no infringement by any Person of any Company Intellectual Property. There is
no pending or, to the Company's knowledge, threatened action, suit, proceeding, claim or other action by any Person challenging
the Company's rights in or to any Company Intellectual Property, except as could not, individually or in the aggregate, reasonably
be expected to have a Material Adverse Effect, and the Company is unaware of any facts which could form a reasonable basis for
any such action, suit, proceeding, claim or other action. The Company believes that it has the right to use, free and clear of
material claims or rights of other persons, all of its customer lists, designs, computer software, systems, data compilations,
and other information that are required for its products or its business as presently conducted or proposed to be conducted. There
is no pending or, to the Company's knowledge, threatened action, suit, proceeding, claim or other action by any Person challenging
the validity, enforceability or scope of any Company Intellectual Property, and the Company is unaware of any facts which could
form a reasonable basis for any such action, suit, proceeding, claim or other action. There is no pending or, to the Company's
knowledge, threatened action, suit, proceeding, claim or other action by any Person that the Company or any of its directors or
employees infringes or otherwise violates, any patents, trademarks, service marks, tradenames, copyrights, licenses, software,
slogans, domain names and other similar intangible assets (including any and all applications, registrations, extensions and renewals
relating thereto), and all of the rights, benefits and privileges associated therewith, of others. The Company believes it has
taken such reasonable steps as are required in accordance with sound business practice and business judgment to establish and preserve
its ownership of all material Company Intellectual Property.

2.8.           
Title to Assets. The Company has good and marketable title in fee simple to all real property that is owned
by it or that is material to its business and good and marketable title to all personal property owned by it or that is material
to its business, in each case free and clear of all Liens, except for Liens that do not materially affect the value of such property
and do not materially interfere with the use made and proposed to be made of such property by the Company. Any real property and
facilities or personal property held under lease by the Company are held by it under valid, subsisting and enforceable leases or
license agreements with which the Company is in compliance.

2.9.           
No Conflicts. Upon execution of a Waiver and Consent dated of even date herewith by and between the Company
and NextLevel VIII, LLC, the execution, delivery and performance by the Company of the Transaction Documents, the issuance and
sale of the Common Stock and Warrants and the consummation by the Company of the transactions contemplated by the Transaction Documents
do not and will not (i) conflict with or violate any provision of the Company's Amended Certificate, Bylaws or other organizational
or charter documents, (ii) conflict with, violate or constitute a default (or an event that with notice or lapse of time or both
would become a default) under, result in the creation of any Lien upon any of the properties or assets of the

7

Company or give
to others any rights of termination, amendment, acceleration or cancellation (with or without notice, lapse of time or both) of,
any agreement, credit facility, indenture, debt or other instrument or other understanding to which the Company is a party or by
which any property or assets of the Company is bound or affected, or (iii) conflict with or result in a violation of any law, statute,
rule, regulation, ordinance, order, judgment, injunction, decree or other restriction of any court or governmental, regulatory
or self-regulatory authority to which the Company is subject (including, without limitation, federal and state securities laws
and regulations), or by which any property or asset of the Company is bound or affected.

2.10.       
Directors and Officers. Immediately prior to the Closing, the directors of the Company will be Eric L. Kash,
Herbert Sorocca, Alan Schor and Joseph Heller, and as of the Closing, the authorized size of the Board of Directors of the Company
is five (5) members. Subsequent to the Closing, the Company shall (i) add a fifth director, who will be independent and (ii) have
no agreement, obligation or commitment with respect to the election of any individual or individuals to the Company's Board of
Directors except as set forth in this Section 2.10, the Amended Certificate and Section 2.10 of the Disclosure Schedule. The Company
covenants and agrees to take such actions a may be required to change the size of the Board of Directors of the Company in accordance
with this Section 2.10. The only executive officer of the Company is Eric L. Kash. Eric L. Kash devotes his full business time
and effort to the Company. All agreements, commitments and understandings of the Company, whether written or oral, with respect
to any compensation to be provided to any of the Company’s directors or officers have been fully disclosed to the Purchaser.

2.11.       
Disclosure

(a)              
The Company confirms that neither it nor any Person acting on its behalf has provided the Purchaser or their agents
or counsel with any information that the Company believes constitutes material, non-public information; provided, however,
that the Company makes no such representation with respect to the fact that the Company is entering into the Transaction Documents
and intends to consummate the transactions contemplated hereby and thereby. The Company understands and confirms that the Purchaser
will rely on the foregoing representations and covenants in effecting transactions in securities of the Company. Other than a confidentiality
undertaking with respect to the transactions contemplated hereby, the Company acknowledges and agrees that the Purchaser does not
make or has not made any representations or warranties with respect to the transactions contemplated hereby other than those specifically
set forth in Section 3 hereof.

(b)              
Each of the disclosures furnished by or on behalf of the Company to the Purchaser regarding the Company, its business
and the transactions contemplated by the Transaction Documents (including, without limitation, the representations and warranties
of the Company herein) is true and correct and does not contain any untrue statement of a material fact or omit to state any material
fact necessary in order to make the statements made therein, in light of the circumstances under which they were made, not misleading.

2.12.       
Private Placement. Assuming the accuracy of the Purchaser’s representations and warranties set forth
in Section 3, no registration under the Securities

8

Act or any state
securities law is required for the offer and sale of the Common Stock and Warrants by the Company to the Purchaser as contemplated
by the Transaction Documents, including the subsequent exercise of the Warrants, by virtue of the exemption provided by Rule 506
of the Securities Act.

2.13.       
No Integrated Offering. Assuming the accuracy of the Purchaser’s representations and warranties set
forth in Section 3, neither the Company, nor any of its Affiliates, nor any Person acting on its or their behalf has, directly
or indirectly, made any offers or sales of any security or solicited any offers to buy any security, under circumstances that would
cause this offering of the Common Stock to be integrated with prior offerings of the Company for purposes of (i) the Securities
Act, in a manner which would require the registration of any such securities under the Securities Act, or (ii) any applicable shareholder
approval provisions of any Trading Market on which any of the securities of the Company are listed or designated.

2.14.       
No General Solicitation. Neither the Company nor any Person acting on behalf of the Company has offered or
sold any of the Common Stock or Warrants by any form of general solicitation or general advertising. The Company has offered the
Common Stock and Warrants for sale only to the Purchaser.

2.15.       
Acknowledgement Regarding Purchaser’s Purchase of Securities. The Company acknowledges and agrees that
the Purchaser is acting solely in the capacity of an arm's length purchaser with respect to the Transaction Documents and the transactions
contemplated thereby. The Company further acknowledges that the Purchaser is not acting as a financial advisor or fiduciary of
the Company (or in any similar capacity) with respect to the Transaction Documents and the transactions contemplated thereby and
any advice given by the Purchaser or any of her respective representatives or agents in connection with the Transaction Documents
and the transactions contemplated thereby is merely incidental to the Purchaser's purchase of the Common Stock and Warrants. The
Company further represents to the Purchaser that the Company's decision to enter into this Agreement and the Transaction Documents
has been based solely on the independent evaluation of these transactions contemplated hereby by the Company and its representatives.

2.16.       
Certain Fees. No brokerage or finder’s fees or commissions are or will be payable by the Company to
any broker, financial advisor or consultant, finder, placement agent, investment banker, bank or other Person with respect to the
transactions contemplated by the Transaction Documents. The Purchaser shall have no obligation with respect to any fees or with
respect to any claims (other than such fees or commissions owed by an Purchaser pursuant to written agreements executed by such
Purchaser which fees or commissions shall be the sole responsibility of such Purchaser) made by or on behalf of other Persons for
fees of a type contemplated in this Section 2.16 that may be due in connection with the transactions contemplated by the Transaction
Documents.

2.17.       
Investment Company. The Company is not, and is not an Affiliate of, an “investment company” within
the meaning of the Investment Company Act of 1940, as amended.

9

 

2.18.       
No Additional Agreements. The Company does not have any agreement or understanding with the Purchaser with
respect to the transactions contemplated by the Transaction Documents other than as specified in the Transaction Documents.

2.19.       
Corporate Documents. The Amended Certificate and Bylaws of the Company are in
the form provided to the Purchaser, have been duly authorized and adopted and are in full force and effect.

3.                 
Representations and Warranties of the Purchaser. The Purchaser hereby represents and warrants to the Company
that:

3.1.           
Authorization. The Purchaser has full power and authority to enter into the Transaction Documents. The Transaction
Documents to which the Purchaser is a party, when executed and delivered by the Purchaser, will constitute valid and legally binding
obligations of the Purchaser, enforceable in accordance with their terms, except as limited by applicable bankruptcy, insolvency,
reorganization, moratorium, fraudulent conveyance, and any other laws of general application affecting enforcement of creditors'
rights generally, and as limited by laws relating to the availability of specific performance, injunctive relief, or other equitable
remedies.

3.2.           
Purchase Entirely for Own Account. This Agreement is made with the Purchaser in reliance upon the Purchaser's
representations to the Company, which by the Purchaser's execution of this Agreement, the Purchaser hereby confirms, that the Securities
to be acquired by the Purchaser will be acquired for investment for the Purchaser's own account, not as a nominee or agent, and
not with a view to the resale or distribution of any part thereof, and that the Purchaser has no present intention of selling,
granting any participation in, or otherwise distributing the same. By executing this Agreement, the Purchaser further represents
that the Purchaser does not presently have any contract, undertaking, agreement or arrangement with any Person to sell, transfer
or grant participations to such Person or to any third Person, with respect to any of the Securities. The Purchaser has not been
formed for the specific purpose of acquiring the Securities.

3.3.           
Disclosure of Information. The Purchaser has had an opportunity to discuss the Company's business, management,
financial affairs and the terms and conditions of the offering of the Common Stock and Warrants with the Company's management and
has had an opportunity to review the Company's facilities. The foregoing, however, does not limit or modify the representations
and warranties of the Company in Section 2 of this Agreement or the right of the Purchaser to rely thereon.

3.4.           
Restricted Securities. The Purchaser understands that the Securities have not been, and will not be, registered
under the Securities Act, by reason of a specific exemption from the registration provisions of the Securities Act which depends
upon, among other things, the bona fide nature of the investment intent and the accuracy of the Purchaser's representations as
expressed herein. The Purchaser understands that the Common Stock and Warrants are “restricted securities” under applicable
U.S. federal and state securities laws and that, pursuant to these laws, the Purchaser must hold the Securities indefinitely unless
they are registered with the SEC

10

and qualified by
state authorities, or an exemption from such registration and qualification requirements is available. The Purchaser acknowledges
that the Company has no obligation to register or qualify the Securities, for resale. The Purchaser further acknowledges that if
an exemption from registration or qualification is available, it may be conditioned on various requirements including, but not
limited to, the time and manner of sale, the holding period for the Securities, and on requirements relating to the Company which
are outside of the Purchaser's control, and which the Company is under no obligation and may not be able to satisfy.

3.5.           
No Public Market. The Purchaser understands that the public market for the Securities is either limited or
does not exist, and that the Company has made no assurances that a public market will
ever exist for the Securities.

3.6.           
Legends. The Purchaser understands that the Common Stock and Warrants and any securities issued in respect
of or exchange for the Securities, may bear one or all of the following legends:

(a)              
“THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,
AND HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO, OR IN CONNECTION WITH, THE SALE OR DISTRIBUTION THEREOF. NO SUCH
TRANSFER MAY BE EFFECTED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL IN A FORM SATISFACTORY
TOTHE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES ACT OF 1933.”

(b)              
Any legend set forth in, or required by, the other Transaction Documents.

(c)              
Any legend required by the securities laws of any state to the extent such laws are applicable to the Securities
represented by the certificate so legended.

3.7.           
Accredited Investor. The Purchaser is an accredited investor as defined in Rule 501(a) of Regulation D promulgated
under the Securities Act.

3.8.           
Foreign Investors. If the Purchaser is not a United States person (as defined by Section 7701(a)(30) of the
Code), the Purchaser hereby represents that it has satisfied itself as to the full observance of the laws of its jurisdiction in
connection with any invitation to subscribe for the Common Stock or any use of this Agreement, including (i) the legal requirements
within its jurisdiction for the purchase of the Common Stock, (ii) any foreign exchange restrictions applicable to such purchase,
(iii) any governmental or other consents that may need to be obtained, and (iv) the income tax and other tax consequences, if any,
that may be relevant to the purchase, holding, redemption, sale, or transfer of the Common Stock. The Purchaser's subscription
and payment for and continued beneficial ownership of the Common Stock will not violate any applicable securities or other laws
of the Purchaser's jurisdiction.

11

 

3.9.           
Exculpation among Purchaser. The Purchaser acknowledges that it is not relying upon any Person, other than
the Company and its officers and directors, in making its investment or decision to invest in the Company. The Purchaser agrees
that neither any Purchaser nor the respective controlling Persons, officers, directors, partners, agents, or employees of any Purchaser
shall be liable to any other Purchaser for any action heretofore taken or omitted to be taken by any of them in connection with
the purchase of the Seucrities.

3.10.       
Residence. If the Purchaser is an individual, then the Purchaser resides in the state or province identified
in the address of the Purchaser set forth on Schedule A attached to this Agreement.

4.                 
Conditions to the Purchaser’s Obligations at Closing. The obligations of the Purchaser to purchase Securities
at the Closing are subject to the fulfillment, on or before the Closing, of each of the following conditions, unless otherwise
waived:

4.1.           
Transaction Documents. The Company and the Purchaser shall have executed and delivered the Transaction Documents
to which it is a party. The Company shall have delivered the Common Stock and the Warrants to the Purchaser and such other documents
relating to the transactions contemplated by the Transaction Documents as the Purchaser may reasonably request.

4.2.           
Proceedings and Documents. All corporate and other proceedings in connection with the transactions contemplated
at the Closing and all documents incident thereto shall be reasonably satisfactory in form and substance to the Purchaser, and
the Purchaser (or its counsel) shall have received all such counterpart copies of such documents as reasonably requested. Such
documents may include good standing certificates.

5.                 
Conditions of the Company's Obligations at Closing. The obligations of the Company to sell the Common Stock
and Warrants to the Purchaser at the Closing are subject to the fulfillment, on or before the Closing, of each of the following
conditions, unless otherwise waived:

5.1.           
Representations and Warranties. The representations and warranties of
the Purchaser contained in Section 3 shall be true and correct in all respects as of the Closing.

5.2.           
Performance. The Purchaser shall have performed and complied with allcovenants, agreements, obligations
and conditions contained in this Agreement that are required to be performed or complied with by them on or before the Closing.

6.                 
Miscellaneous.

6.1.           
Replacement of Shares or Warrants. If any certificate or instrument evidencing any Common Stock or Warrants
is mutilated, lost, stolen or destroyed, the Company shall issue or cause to be issued in exchange and substitution for and upon
cancellation thereof, or in lieu of and substitution therefor, a new certificate or instrument, but only upon receipt of evidence
reasonably satisfactory to the Company of such loss, theft or destruction if requested, as well as any other documentation

12

required by the
Company's transfer agent. The applicants for a new certificate or instrument under such circumstances shall also pay any reasonable
third-party costs (including customary indemnity) associated with the issuance of such replacement Securities. If a replacement
certificate or instrument evidencing any Common Stock or Warrants is requested due to a mutilation thereof, the Company may require
delivery of such mutilated certificate or instrument as a condition precedent to any issuance of a replacement.

6.2.           
Survival of Representations and Warranties. Unless otherwise set forth in this Agreement, the representations
and warranties of the Company and the Purchaser contained in or made pursuant to this Agreement shall survive the execution and
delivery of this Agreement and the Closing and shall in no way be affected by any investigation or knowledge of the subject matter
thereof made by or on behalf of the Purchaser or the Company.

6.3.           
Successors and Assigns. The terms and conditions of this Agreement shall
inure to the benefit of and be binding upon the respective successors and assigns of the parties. Nothing
in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their respective successors
and assigns any rights, remedies, obligations, or liabilities under or by reason of this Agreement, except as expressly provided
in this Agreement.

6.4.           
Governing Law; Consent to Jurisdiction. This Agreement shall be governed by, and construed in accordance with,
the laws of the State of New York, regardless of the laws that might otherwise govern under applicable principles of conflicts
of law. EACH OF THE PARTIES IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY AND ALL RIGHTS
TO TRIAL BY JURY IN CONNECTION WITH ANY CLAIM, ACTION, SUIT OR PROCEEDING ARISING OUT OF OR RELATING TO THE TRANSACTION DOCUMENTS
OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. TO THE FULLEST EXTENT PERMITTED BY LAW, EACH PARTY HERETO HEREBY IRREVOCABLY
AGREES THAT ANY SUCH CLAIM, ACTION, SUIT OR PROCEEDING MAY BE BROUGHT IN ANY NEW YORK STATE COURT OR UNITED STATES DISTRICT COURT
SITTING IN THE CITY OF NEW YORK, AND WAIVES ANY OBJECTION TO THE VENUE OF THE AFORESAID COURTS.

6.5.           
Counterparts; Facsimile. This Agreement may be executed and delivered by facsimile or electronic (including
PDF) signature and in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute
one and the same instrument.

6.6.           
Titles and Subtitles. The titles and subtitles used in this Agreement
are used for convenience only and are not to be considered in construing or interpreting this Agreement.

6.7.           
Notices. All notices and other communications given or made pursuant to this Agreement shall be in writing
and shall be deemed effectively given upon the earlier of actual receipt or: (a) personal delivery to the party to be notified,
(b) when sent, if sent by facsimile (with delivery confirmation) during normal business hours of the

13

recipient, and
if not sent during normal business hours, then on the recipient's next business day, (c) five (5) days after having been sent by
registered or certified mail, return receipt requested, postage prepaid, or (d) one (1) business day after deposit with a nationally
recognized overnight courier, freight prepaid, specifying next business day delivery, with written verification of receipt. All
communications shall be sent to the respective parties at their address as set forth on the signature page or Schedule A
attached to this Agreement, or to such facsimile number or address as subsequently modified by written notice given in accordance
with this Section 6.7. If notice is given to the Company, a copy shall also he sent to Meyer, Suozzi, English & Klein, P.C.,
990 Stewart Avenue, Suite 300, Garden City, New York 11530, Attention: Richard G. Satin, Esq., Facsimile: (516) 741-6706.

6.8.           
No Finder's Fees. Each party represents that it neither is nor will be obligated for any finder's fee or commission
in connection with this transaction. The Purchaser agrees to indemnify and to hold harmless the Company from any liability for
any commission or compensation in the nature of a finder's or broker's fee arising out of this transaction (and the costs and expenses
of defending against such liability or asserted liability) for which the Purchaser or any of its officers, employees, or representatives
is responsible. The Company agrees to indemnify and hold harmless the Purchaser from any liability for any commission or compensation
in the nature of a finder's or broker's fee arising out of this transaction (and the costs and expenses of defending against such
liability or asserted liability) for which the Company or any of its officers, employees or representatives is responsible.

6.9.           
Amendments and Waivers. Except as otherwise set forth herein, any term of this Agreement may be amended, terminated
or waived only with the written consent of the Company and the Purchaser.

6.10.       
Severability. The invalidity or unenforceability of any provision hereof shall in no way affect the validity
or enforceability of any other provision.

6.11.       
Entire Agreement. This Agreement (including the Schedules and Exhibits hereto), the Amended Certificate and
the other Transaction Documents constitute the full and entire understanding and agreement between the parties with respect to
the subject matter hereof, and any other written or oral agreement relating to the subject matter hereof existing between the parties
are expressly canceled.

6.12.       
Remedies. The Purchaser shall have all rights and remedies set forth in the Transaction Documents and all
rights and remedies which such holders have been granted at any time under any other agreement or contract and all of the rights
which such holders have under any law. Any Person having any rights under any provision of this Agreement shall be entitled to
enforce such rights specifically (without posting a bond or other security), to recover damages by reason of any breach of any
provision of this Agreement and to exercise all other rights granted by law. Furthermore, the Company recognizes that in the event
that it fails to perform, observe, or discharge any or all of its obligations under the Transaction Documents, any remedy at law
may prove to be inadequate relief to the Purchaser. The Company therefore agrees that the Purchaser shall be entitled to seek specific
performance and/or temporary, preliminary and permanent injunctive or other equitable relief from any court of competent jurisdiction
in any such case without the necessity of proving actual damages and without posting a bond or other security. 

14

 

[Signature Pages
Follow]

15

Execution
Page for Common Stock and Warrant Purchase Agreement for Purchaser:

 

IN
WITNESS WHEREOF, Purchaser has caused this Common Stock and Warrant Purchase Agreement
to be executed as of the date indicated below.

 

	$112,990

	   	   	   	6,835,900

	Subscription Amount

	   	   	   	Number of Shares of Common Stock

	 
	 

	   	   	   	5,649,500

	 

	   	   	   	Number of Warrants to Purchase Common Stock

	 
	Future Farm Trust

	   	   	   	 

	Print or Type Name

	   	   	   	Print or Type Name (Joint-owner)

	 
	/s/ Shirley M. Bilanski, trustee

	   	   	   	 

	Signature

	   	   	   	Signature (Joint-owner)

	 
	12/20/12

	   	   	   	 

	Date

	   	   	   	Date (Joint-owner)

	 
	 

	   	   	   	 

	Social Security Number

	   	   	   	Social Security Number (Joint-owner)

	 
	11304 Marquette Drive
 New Buffalo, MI 49117

	   	   	   	 

	Address

	   	   	   	Address (Joint-owner)

	 
	__ Joint Tenancy

	   	   	   	__ Tenants in Common

 

___ Tenancy by the Entirety

16

Company
Execution Page for Common Stock and Warrant Purchase Agreement

IN WITNESS WHEREOF, the
Company has caused this Common Stock and Warrant Purchase Agreement to be executed, and the foregoing subscription accepted, as
of the date indicated below.

COUPON EXPRESS,
INC.

By:
/s/ Eric L. Kash________________

Name:Eric
L. Kash

Title: Chief Executive Officer

Date:December
28, 2012

17

Schedule A

Michigan

 

18

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