Document:

Exhibit 10.11

 

REVOLVING LINE OF CREDIT
AGREEMENT

 

This Revolving Line
of Credit Agreement (the “AGREEMENT”) is made and entered into as of the 30th day of September, 2019, by and between
ST RXR Investments, LLC (“LENDER”), and LMP Automotive Holdings, Inc., a Delaware corporation (“BORROWER”).

 

In consideration of the mutual
covenants and agreements contained herein, the parties agree as follows:

 

1. LINE
OF CREDIT. Lender hereby establishes for a period extending to May 21, 2020 (the “MATURITY DATE”) a revolving line of
credit (the “CREDIT LINE”) for Borrower in the principal amount of Four Million ($4,000,00.00) (the “CREDIT LIMIT”).
In connection herewith, Borrower shall execute and deliver to Lender a line of credit note, in substantially the form attached
hereto as Exhibit A, in the amount of the Credit Limit and in form and content satisfactory to Lender (“NOTE”). All sums
advanced on the Credit Line or pursuant to the terms of this Agreement (each an “ADVANCE”) shall become part of the principal
of the Note.

 

2. ADVANCES.
Any request for an Advance may be made from time to time and in such amounts as Borrower may choose; provided, however, that any
requested Advance will not, when added to the outstanding principal balance of all previous Advances, exceed the Credit Limit.
Requests for Advances shall be made in writing by such officer of Borrower authorized by it to request such Advances. Until such
time as Lender may be notified otherwise, Borrower hereby authorizes its Chief Executive Officer [or its [Chief Financial Officer]
to request Advances. Lender may deposit or credit the amount of any requested Advance to Borrower’s checking account with Lender.
Lender may refuse to make any requested Advance if an Event of Default (as defined below) has occurred and is continuing hereunder
either at the time the request is given or the date the Advance is to be made, or if an event has occurred or condition exists
which, with the giving of notice or passing of time or both, would constitute an Event of Default hereunder as of such dates.

 

3. INTEREST.
All sums advanced pursuant to this Agreement shall bear no interest.

 

4. REPAYMENT. Borrower
shall pay the principal balance on any outstanding Note on the earliest of (i) the written demand of Lender or (ii) the
Maturity Date. All payments shall be made to Lender at such place as Lender may, from time to time, designate. All payments received
hereunder shall be applied to principal. Borrower may prepay principal at any time without penalty.

 

5. QUALIFIED
IPO. Upon the consummation of a Qualified IPO, all amounts outstanding under this Agreement shall be repaid pursuant to Section
4 and this Agreement shall terminate. For the avoidance of doubt, Borrower shall have no right to request an Advance following
the consummation of a Qualified IPO.

 

6. REPRESENTATIONS
AND WARRANTIES. In order to induce Lender to enter into this Agreement and to make the advances provided for herein, Borrower represents
and warrants to Lender as follows:

 

a. Borrower is duly organized, validly existing,
and in good standing under the laws of the State of Delaware with the power to own its assets and to transact business in
other states where its business is conducted.

 

     

     

    

 

b.
Borrower has the corporate authority and power to execute and deliver any document required hereunder and to perform any condition
or obligation imposed under the terms of such documents.

 

c.
The execution, delivery and performance of this Agreement and each document incident hereto will not violate any provision of
any applicable law, regulation, order, judgment, decree, certificate of incorporation, by-law, indenture, contract, agreement,
or other undertaking to which Borrower is a party, or which purports to be binding on Borrower or its assets and will not result
in the creation or imposition of a lien on any of its assets.

 

d.
There is no action, suit, investigation, or proceeding pending or, to the knowledge of Borrower, threatened, against or affecting
Borrower or any of its assets which, if adversely determined, would have a material adverse effect on the financial condition
of Borrower or the operation of its business.

 

e.
As of the date hereof and after giving effect to the transactions contemplated hereby, (i) the aggregate value of Borrower’s assets
will exceed its liabilities, (ii) Borrower will have sufficient cash flow to enable it to pay its debts as they mature, and (iii)
Borrower will not have unreasonably small capital for the business in which it is engaged.

 

7.
EVENTS OF DEFAULT. An event of default will occur if any of the following events occurs (“EVENT OF DEFAULT”):

 

a.
Failure to pay any principal on a Note within ten (10) days after the same becomes due.

 

b.
Any representation or warranty made by Borrower in this Agreement or in connection with any borrowing or request for an Advance
hereunder, or in any certificate, financial statement, or other statement furnished by Borrower to Lender is untrue in any material
respect at the time when made.

 

c.
Default by Borrower in the observance or performance of any other covenant or agreement contained in this Agreement, other than
a default constituting a separate and distinct Event of Default under this Paragraph 6; provided, however, that such default is
not remedied within fourteen (14) days after notice thereof is given to Borrower.

 

d.
Filing by Borrower of a voluntary petition in bankruptcy seeking reorganization, arrangement or readjustment of debts, or any
other relief under the US Bankruptcy Code, as amended, or under any other insolvency act or law, state or federal, now or hereafter
existing.

 

e.
Filing of an involuntary petition against Borrower in bankruptcy seeking reorganization, arrangement or readjustment of debts,
or any other relief under the Bankruptcy Code as amended, or under any other insolvency act or law, state or federal, now or hereafter
existing, and the continuance thereof for sixty (60) days undismissed, unbonded, or undischarged.

 

f.
Any order, judgment or decree shall be entered against Borrower decreeing the dissolution or split up of Borrower and such order
shall remain undischarged or unstayed for a period in excess of thirty (30) days.

 

8.
REMEDIES. Upon the occurrence of an Event of Default as defined above, Lender may declare the entire unpaid principal balance
to be immediately due and payable without presentment, demand, protest, or other notice of any kind. Lender may suspend or terminate
any obligation it may have hereunder to make additional Advances. To the extent permitted by law, Borrower waives any rights to
presentment, demand, protest, or notice of any kind in connection with this Agreement. No failure or delay on the part of Lender
in exercising any right, power, or privilege hereunder will preclude any other or further exercise thereof or the exercise of
any other right, power, or privilege. The rights and remedies provided herein are cumulative and not exclusive of any other rights
or remedies provided at law or in equity. Borrower agrees to pay all costs of collection incurred by reason of the default, including
court costs and reasonable attorney’s fees.

 

    2

     

    

 

9.
NOTICE. Any written notice will be deemed effective on the date such notice is placed, first class, postage prepaid, in the United
States mail, addressed to the party to which notice is being given as follows:

 

	Lender:	ST
    RXR Investment, LLC
	 	Attn: [     ]
	 	1330 Avenue
    of the Americas, Suite 510 
	 	New York, NY 10019
	 	
	Borrower
    	LMP Automotive
    Holdings, Inc.
	 	Attn.: Samer
    Tawfik
	 	601 N State Road 7
	 	Plantation, FL 33317

 

10. GENERAL PROVISIONS. All representations and warranties made in this Agreement and the Note and in any certificate delivered
pursuant thereto shall survive the execution and delivery of this Agreement and the making of any loans hereunder. This Agreement
will be binding upon and inure to the benefit of Borrower and Lender, their respective successors and assigns, except that Borrower
may not assign or transfer its rights or delegate its duties hereunder without the prior written consent of Lender. This Agreement,
the Note, and all documents and instruments associated herewith will be governed by and construed and interpreted in accordance
with the laws of the State of Delaware. Time is of the essence hereof. This Agreement will be deemed to express, embody, and supersede
any previous understanding, agreements, or commitments, whether written or oral, between the parties with respect to the general
subject matter hereof. This Agreement may not be amended or modified except in writing signed by the parties.

 

11.
WAIVER OF JURY TRIAL. The parties hereto hereby voluntarily and irrevocably waive trial by jury in any Proceeding (as hereinafter
defined) brought in connection with this Agreement, any of the related agreements and documents, or any of the transactions contemplated
hereby or thereby. As used herein, “Proceeding” includes any threatened, pending, or completed action, suit, arbitration,
alternate dispute resolution mechanism, investigation, inquiry, administrative hearing, or any other actual, threatened, or completed
proceeding, whether brought by or in the right of any party or otherwise and whether civil, criminal, administrative, or investigative,
in which a Party was, is, or will be involved as a party or otherwise.

 

12.
COUNTERPARTS. Counterparts of this Agreement (or applicable signature pages hereof) that are manually signed and delivered by
facsimile transmission or by electronic mail as a portable document format file (.pdf) or a tagged image file (.tif) shall be
deemed to constitute signed original counterparts hereof and shall bind the parties signing and delivering in such manner.

 

13.
INDEPENDENT ADVICE OF COUNSEL. The parties hereto, and each of them, represent and declare that in executing this Agreement they
relied solely upon their own judgment, belief, knowledge and the advice and recommendations of their own independently selected
counsel, concerning the nature, extent, and duration of their rights and claims, and that they have not been influenced to any
extent whatsoever in executing the Agreement by any representations or statements covering any matters made by any other party
or that party’s representatives hereto.

 

14.
ENTIRE AGREEMENT. This Agreement, together with the Note, constitutes the entire understanding and agreement of the parties with
respect to the general subject matter hereof; supersede all prior negotiations and agreements with respect thereto; may not be
contradicted by evidence of any alleged oral agreement; and may not be amended, modified, or rescinded in any manner except by
a written agreement signed by Lender which clearly and unequivocally expresses an intent to amend, modify, or rescind the same.

 

[Signature
Page Follows]

 

    3

     

    

 

IN WITNESS WHEREOF,
the parties hereto have executed this Agreement the day and year first above written.

 

	 	BORROWER:
	 	 	 
	 	LMP AUTOMOTIVE HOLDINGS, INC.
	 	 
	 	By:	/s/ Samer Tawfik   
	 	 	Name: Samer Tawfik
	 	 	Title: Chief Executive Officer
	 	 	 
	 	LENDER:
	 	 	 
	 	ST RXR INVESTMENTS, LLC.
	 	 	 
	 	By:	/s/ Sam Tawfik
	 	 	Name: Sam Tawfik
	 	 	Title: President

 

    4

     

    

 

Exhibit A

 

LINE OF CREDIT NOTE

 

	$4,000,000.00	As of September 30, 2019

 

FOR
VALUE RECEIVED, and intending to be legally bound hereby, LMP Automotive Holdings, Inc., a Delaware corporation (“Borrower”),
hereby unconditionally promises to pay to the order of ST RXR Investments LLC (“Lender”), the amount of up
to FOUR MILLION DOLLARS AND NO/100 ($4,000,000.00), together with any unpaid costs and expenses payable to Lender hereunder.

 

This
Line of Credit Note (this “Note”) has been issued by Borrower in accordance with the terms of that certain Revolving
Line of Credit Agreement of even date herewith (the “Agreement”), between Borrower and Lender, and the terms
of the Agreement are expressly incorporated herein by reference. All capitalized terms used in this Note and not otherwise defined
herein have the meanings ascribed to such terms in the Agreement. The principal amount due and owing at any time shall be the
sum of all then outstanding Advances (as defined in the Agreement) which had not been repaid.

 

This
Line of Credit Note is issued to evidence Borrower’s indebtedness to Lender for operating expenses in connection with the operations
of Borrower.

 

Without
limiting its other obligations under the Agreement, unless accelerated earlier following the completion of a Qualified IPO, the
written demand of Lender or an occurrence of an Event of Default, Borrower will repay the principal amount of this Note, in accordance
with the Agreement.

 

Lender,
together with Lender’s successors and/or assigns, is entitled to the benefits of this Note and the Agreement and may exercise
the remedies provided for thereby or otherwise available in respect thereof, all in accordance with the terms hereof and thereof.

 

A
waiver or forbearance on the part of Lender of any provision of this Note shall be effective only if the same shall be in writing
and signed by Lender, and then shall not be construed to be a waiver of any subsequent breach or default of any term or condition
of the Note, and the failure of Lender to assert any breach or to declare a default by Borrower or to exercise any right, power
or privilege under this Note shall not be construed to constitute a waiver thereof so long as such breach or default continues
unremedied. No single or partial exercise by Lender of this Note of any right, power or privilege hereunder shall preclude any
other or further exercise thereof or the exercise of any other right, power or privilege, and no notice to or demand on Borrower
in any case shall entitle Borrower to any other or further notice or demand in similar or other circumstances or constitute a
waiver of the right of Lender to any other or further action in any circumstances without notice or demand.

 

Borrower
expressly waives presentment, protest, demand, notice of dishonor, presentment for the purpose of accelerating maturity, and diligence
in collection. This Note, and the terms, conditions and provisions hereof, may not be changed, modified or amended without the
written consent of Borrower and Lender.

 

This
Note, and all claims relating to or arising out of the relationship of the parties hereto with respect to the subject matter hereof,
shall be governed by, construed under and interpreted in accordance with the domestic laws of the State of Delaware, without giving
effect to the principles of any choice of law or conflict of law provision or rule (whether of the State of Delaware or any other
jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of Delaware.

 

This
Note (i) shall be binding upon Borrower and Lender and, where applicable, their respective successors and permitted assigns,
and (ii) shall inure to the benefit of Borrower and Lender and, where applicable, their respective successors and permitted
assigns; provided, however, that Borrower may not assign its rights or obligations hereunder or any interest herein without
the prior written consent of Lender, and any such assignment or attempted assignment by Borrower shall be void and of no
effect with respect to Lender.

 

    5

     

    

 

For
purposes of the this Note, no course of dealing between Borrower and Lender (or any other holder of this Note), or any of them,
and no delay on the part of any such party in exercising any rights hereunder shall operate as a waiver of the rights thereof.
Any term of this Note may be amended, supplemented, modified or waived only with the written consent of Borrower and Lender.

 

All
notices and other communications given or made pursuant to the Agreement.

 

IN
WITNESS WHEREOF, Borrower has executed and delivered to Lender this Note, as of the day and year first above written.

 

	 	LMP AUTOMOTIVE HOLDINGS, INC.
	 	 	 
	 	By:	/s/ Samer
    Tawfik
	 	Name: 	Samer Tawfik
	 	Title:	Chairman, President and Chief Executive Officer

 

 

6Exhibit 10.12

  

DEMAND PROMISSORY NOTE

AND LOAN AND SECURITY AGREEMENT

 

FOR VALUE RECEIVED,
the undersigned borrower (“Borrower”) promises to pay to the order of NextGear Capital, Inc. (“Lender”),
with its principal office at 11799 North College Avenue, Carmel, Indiana 46032, or such other place as Lender may designate in
writing or on the Discover Portal from time to time, in lawful money of the United States of America, the principal sum of Two
Hundred Fifty Thousand Dollars and Zero Cents ($250,000.00), or such greater or lesser sum which may be advanced to or on behalf
of Borrower from time to time, together with all costs, interest, fees, and expenses as provided for under this Note and the other
Loan Documents. Unless otherwise stated in an addendum to this Note, this Note shall become effective on the date of Borrower’s
execution hereof as set forth below Borrower’s signature (such date, or the effective date otherwise stated in the applicable
addendum, the “Effective Date”).

 

NOW, THEREFORE,
in consideration of the mutual covenants, agreements and conditions contained herein, Borrower and Lender (each, a “Party”
and collectively, the “Parties”) agree as follows:

 

		1.	DEFINITIONS. Capitalized terms used in this Note or in
the other Loan Documents without definition shall have the respective meanings as set forth in Appendix A attached hereto
and incorporated herein by reference (such meanings to be equally applicable to both the singular and plural forms of the terms
defined). Any capitalized terms used herein or in another Loan Document, but not otherwise defined herein or in such other Loan
Document, as the case may be, shall have the meanings ascribed to them in the UCC.

 

		2.	GRANT OF SECURITY INTEREST. In order to secure full and
prompt payment of all Liabilities and performance of all obligations of Borrower to Lender, its Affiliates, and/or their respective
successors or assigns:

 

		(a)	Borrower grants to Lender a continuing security interest
in all of Borrower’s assets and properties, wherever located, including, without limitation, all equipment of any kind or
nature; all vehicles and vehicle parts; all Inventory now owned or hereafter acquired, including, without limitation, all Lender
Financed Inventory now owned or hereafter acquired; all amounts in Borrower’s Reserve held by or on behalf of Lender, if
any; all documents, documents of title, deposit accounts, accounts receivable, manufacturer rebates and incentive payments, chattel
paper, including, without limitation, all Receivables and general intangibles now owned or hereafter acquired by Borrower; all
cash reserves; all of Borrower’s books and records (including any books and records contained on computer hardware or software
or otherwise stored by or on behalf of Borrower in electronic or digital form); and all additions, accessions, accessories, replacements,
substitutions, and proceeds of any of the foregoing (collectively, the “Collateral”).

 

		(b)	The security interest given to Lender in Section 2(a)
is given to Lender to secure payment of all Liabilities and the performance of all obligations of Borrower to Lender, and its
Affiliates, including all obligations of Borrower under this Note, under any other Loan Document, or otherwise, all without relief
from valuation or appraisement Laws. Upon the request of Lender, Borrower shall promptly execute and deliver to Lender or its
designee such further documents and instruments, and shall take such further actions, in each case as Lender may deem necessary
or desirable to protect Lender’s interest in the Collateral or otherwise effectuate the provisions of this Note and the
other Loan Documents. Without limiting the generality of the foregoing, Borrower shall, upon the request of Lender, (i) use its
best efforts to secure all consents and approvals that may be necessary or appropriate for the assignment to Lender of any Collateral
(including any contract of Borrower that constitutes any portion of the Collateral), or that may be necessary in order for Lender
to receive the full benefit of all Collateral and to enforce its security interest in the Collateral; (ii) provide Lender and
its Representatives with full access to all Collateral, including any and all books and records relating thereto; and (iii) deliver
to Lender all Collateral consisting of negotiable documents, chattel paper, and instruments not deposited for collection in the
aggregate (in each case, accompanied by any related bills of sale or any other instruments of transfer executed for Borrower),
in each case promptly after Borrower receives the same.

 

		(c)	Borrower authorizes Lender to file any UCC financing
statements and any amendments thereto and any continuation statements under the UCC, in each case to the extent necessary or desirable
in Lender’s sole discretion to effect or preserve the security interest granted by Borrower hereunder or under any other
Loan Document. Further, Borrower hereby acknowledges, ratifies and approves any UCC financing statements or other filings under
the UCC that may have been made by or on behalf of Lender and its Affiliates prior to the Effective Date. The security interest
granted by Borrower in Section 2(a) shall be in addition to, and not a substitution for, any right of offset, netting, or reclamation
that Lender or any of its Affiliates may have against Borrower, whether pursuant to this Note, any other Loan Document, any Law
or otherwise.

 

		3.	INTEREST RATE. Interest shall accrue on Borrower’s
Liabilities to Lender in accordance with the following schedule:

 

		(a)	All outstanding Liabilities relating to a Floorplan
Advance or a Receivable Advance shall accrue Interest on a per annum basis from the Floorplan Date or the Receivable Origination
Date, as the case may be, based upon a 360-day year, and such Interest shall be compounded daily at the Base Rate, plus the Contract
Rate, until such outstanding Liabilities are paid in full.

 

		(b)	The Base Rate may be amended or modified by Lender
from time to time in Lender’s sole discretion by posting such amendment or modification on the Finance Program Rate, Fee
and Term Schedule. However, Lender may increase the Base Rate by no more than fifty (50) basis points (i.e. one-half of one percent)
in any thirty (30) day period.

    	Page 1 of 13	NextGear Demand Promissory Note and Loan and Security Agreement (v. 1.1) (129137)

     

    

 

		4.	BORROWER’S REPRESENTATIONS, WARRANTIES, AND COVENANTS.
At the time of Borrower’s execution of this Note and continuing at all times thereafter until all Liabilities have been
indefeasibly paid and satisfied in full and this Note and all other Loan Documents terminated in accordance with their respective
terms, Borrower hereby represents, warrants, covenants, and agrees:

 

		(a)	To sell, lease, or rent Lender Financed Inventory
only in the Ordinary Course of Business and in accordance with Law, and not to sell or otherwise dispose of any Lender Financed
Inventory except as herein provided.

 

		(b)	To keep Lender Financed Inventory only at Borrower’s
Place of Business and not to remove any Lender Financed Inventory from such place for a period exceeding twenty-four (24) hours,
unless such item of Lender Financed Inventory is the subject of an active daily rental agreement (and floorplanned pursuant to
a rental Advance Schedule executed by Borrower and Lender), or such removal has been previously authorized in writing by Lender.
Notwithstanding the foregoing, Borrower may request Lender to authorize Borrower to consign certain Lender Financed Inventory
to another licensed dealer at such consignee dealer’s place of business. Borrower’s request to consign Lender Financed
Inventory as referenced above is subject to Borrower and the consignee dealer executing and delivering to Lender any documentation
that Lender may require, including a UCC financing statement or other similar filing on consignee dealer, or an authorization
for Lender to make any such filing. Lender may deny Borrower’s request to consign Lender Financed Inventory in Lender’s
sole and absolute discretion.

 

		(c)	To keep Inventory
                                         in good repair and insured against all physical risks in such amounts and under such
                                         policies issued by such insurance companies as are deemed necessary and satisfactory
                                         by Lender; provided, however, that any insurance company issuing required
                                         coverage to Borrower pursuant to the requirements of this Section 4(c) shall have been
                                         assigned to an A.M. Best Financial Size Category (FSC) of “X” or higher,
                                         and shall have a minimum A.M. Best Financial Strength (FSR) rating of “A-”.
                                         Lender shall be named “loss payee” on such insurance policies. Borrower shall
                                         provide Lender with a certificate or certificates of insurance evidencing that the above-mandated
                                         insurance requirements have been satisfied and specifying that the applicable insurance
                                         carriers will mail direct written notice to Lender at least thirty (30) days prior to
                                         any cancellation or non-renewal of any of the above-mandated policies. Alternatively,
                                         and unless the Unit of Lender Financed Inventory has been branded as “salvage”
                                         or is otherwise ineligible for the Collateral Protection Program, Borrower may satisfy
                                         the insurance coverages required under this Section 4(c) by voluntarily enrolling in
                                         Lender’s Collateral Protection Program and satisfying and adhering to all conditions
                                         and other terms thereof at all times during Borrower’s enrollment in the Collateral
                                         Protection Program. In the event Borrower fails to procure, maintain or provide proof
                                         of the insurance coverages required under this Section 4(c), Lender may enroll Borrower
                                         in Lender’s Collateral Protection Program, or, alternatively, Lender may secure
                                         on Borrower’s behalf such policies of insurance as Lender, in its sole discretion,
                                         deems necessary, in each case from such insurers, in such amounts and with such coverages
                                         and deductibles as Lender, in its sole discretion, deems necessary. Charges incurred
                                         under the Collateral Protection Program are calculated as of the Floorplan Date from
                                         the amount of each original Floorplan Advance related to a Unit of Lender Financed Inventory,
                                         through the life of the Floorplan Advance. Upon Borrower’s enrollment in the Collateral
                                         Protection Program (whether voluntary or otherwise), Borrower shall be subject to, and
                                         at all times comply with and adhere to, the terms and conditions applicable to the Collateral
                                         Protection Program and Borrower’s enrollment and participation therein. Borrower
                                         understands and agrees that Lender has an insurable interest in the Collateral, including
                                         all Lender Financed Inventory, by virtue of Borrower’s pledge of the Collateral
                                         as security to Lender for the repayment of all Liabilities by Borrower to Lender. Fees,
                                         charges and other terms and conditions for the Collateral Protection Program are published
                                         in the Finance Program Rate, Fee and Term Schedule or on the documents referenced therein.

 

		(d)	To keep at all times complete and accurate records
of Borrower’s Business and provide to Lender promptly (but in any event within two (2) Business Days) copies of such records
and any financial information regarding Borrower’s Business or Borrower’s financial condition generally, in each case
as Lender may request. Borrower authorizes Lender to share such information and any and all other information that Lender may
possess regarding Borrower’s Credit Line or Borrower’s relationship with Lender, including information regarding this
Note and the other Loan Documents; Borrower’s loan history; account history; payment history; audit history; account balance;
loan application; credit worthiness; credit availability; and such other general business information regarding Borrower’s
Credit Line and Borrower’s relationship with Lender, to any and all Persons that Lender, in its sole discretion, deems reasonable,
including auctions. Without limiting the generality of the foregoing, Borrower shall maintain complete and accurate records and
financial statements for all Advances requested or made hereunder, and all other transactions hereunder, including bank statements,
cancelled checks, sales invoices, proofs of payment, and other sales files, in each case for at least a period of five (5) years
after the date on which such Advance was made or such transaction occurred, as the case may be.

 

		(e)	To allow Lender and its Representatives to inspect
Lender Financed Inventory during normal business hours and at other reasonable times at Borrower’s Place of Business and
such other places as any Lender Financed Inventory may be located and to inspect and make copies of Borrower’s books and
records. Borrower shall pay Lender for the costs and expenses incurred by Lender or its Representatives to undertake such audits
of any Lender Financed Inventory and such inspections and copying of Borrower’s books and records, in each case on the applicable
Maturity Date.

 

		(f)	To hold all amounts received from the sale of any
Unit of Lender Financed Inventory in the form as received in trust for the sole benefit of and for Lender, and to remit such funds
satisfying all amounts due Lender and owing by Borrower for such Unit of Lender Financed Inventory, in each case within twenty-four
(24) hours of Borrower’s receipt of such funds (or receipt of such funds by any Affiliate of Borrower).

    	Page 2 of 13	NextGear Demand Promissory Note and Loan and Security Agreement (v. 1.1) (129137)

     

    

 

		(g)	To hold all amounts received that relate to any Receivable
that is subject to a Receivable Advance in the form as received in trust for the sole benefit of and for Lender, and to remit
such funds satisfying all amounts due Lender and owing by Borrower for and in connection with such Receivable, in each case within
twenty-four (24) hours of Borrower’s receipt of such funds (or receipt of such funds by any Affiliate of Borrower).

 

		(h)	That, for each Receivable which is the subject of
a Receivable Advance, (i) Borrower is the sole and unconditional owner of such Receivable; (ii) such Receivable is not already
encumbered by any voluntary or involuntary Liens which are senior to Lender’s security interest in such Receivable; (iii)
Borrower has a legal right to pledge such Receivable to Lender as security for all Liabilities of Borrower; (iv) such Receivable
represents an original bona fide sale to the buyer(s) named therein; (v) such Receivable is now and will remain free from any
claim, defense, setoff, or counterclaim of any nature and is enforceable against the buyer(s) named therein and third parties
according to its terms; (vi) all statements, facts, numbers, and other information in such Receivable and all related documents
are true and accurate to the best of Borrower’s knowledge, are free from fraud, and have not been altered or modified subsequent
to their execution, except for such alterations or modifications as have been acknowledged and initialed by Borrower and the other
parties thereto; (vii) Borrower has met all of Borrower’s obligations to the subject buyer(s) for such Receivable, and Borrower
has no knowledge of any event which indicates or suggests the prospective un-collectability of all or any portion of the Receivable;
(viii) the Unit that is the subject of the Receivable was sold at fair market value, not as salvage, and has actually been delivered
into the possession of and has been accepted by the subject buyer(s); and (ix) the sale and related financing of the Unit that
is the subject of the Receivable complies with all Laws (including all usury Laws, the Uniform Consumer Credit Code, all consumer
credit Laws, and all equal credit opportunity and disclosure Laws).

 

		(i)	That any request for an Advance shall constitute an
affirmative representation by Borrower to Lender that Borrower is in full compliance with all terms, conditions, representations,
warranties and covenants made under this Note and the other Loan Documents, in each case as of the date of such request.

 

		(j)	That Borrower now has, and will have at the time of
any Advance and through the date of any repayment of the Liabilities thereunder, (i) sufficient cash and equity capital to conduct
its Business and pay its debts as they mature; (ii) sufficient capital and other financial resources necessary to engage in the
Business and perform its obligations under any agreement to which it is a party and any transaction in which it may engage hereafter;
and (iii) ownership of property (including property of all wholly-owned and partially-owned subsidiaries of Borrower) having an
aggregate fair market value that is greater than the sum of Borrower’s debts (which shall include debts of all wholly-owned
and partially-owned subsidiaries of Borrower).

 

		(k)	That, without Lender’s prior written consent
(which consent may be withheld by Lender in its sole discretion), Borrower shall not (i) make any distributions of its property
or assets (including any cash), except for tax and other distributions that (A) are made in the Ordinary Course of Business and,
(B) are made in compliance with all Laws, and (C) will not render Borrower or any of its Affiliates insolvent, or otherwise impair
the ability of Borrower or any of its Affiliates to satisfy their respective financial obligations when and as such obligations
become due; (ii) sell, issue, redeem, retire, purchase, or otherwise acquire, directly or indirectly, any of its capital stock
or other equity, in any manner which would reduce, in the aggregate and on cumulative basis, either the cash position or “tangible
net worth” of Borrower (as defined in accordance with United States generally accepted accounting principles) by more than
ten percent (10%); (iii) make any material change in its capital structure, or make any material change in its Business or operations;
(iv) make any loans or other advances of money or any loans or advances of Inventory or other property to any Person, including
any officer, director, stockholder, employee, or Affiliate of Borrower, other than (A) advances against commissions, and other
similar advances to employees in the Ordinary Course of Business, and (B) loans not exceeding an aggregate of two percent (2%)
of the Credit Line; (v) undertake or permit any of its equity holders to undertake any transaction or series of transactions that
would result in the equity holders of Borrower, as of the Effective Date, owning and controlling less than seventy-five percent
(75%) of all classes of the outstanding equity of Borrower on a fully-diluted basis; or (vi) engage in any transaction or series
of transactions to sell, liquidate, or otherwise transfer, all or substantially all of its assets. If Borrower desires to engage
in any transaction or series of transactions that would, absent the written consent of Lender, be prohibited under this Section
4(k), Borrower shall provide Lender with no less than thirty (30) days’ prior written notice describing the proposed transaction
or series of transactions in reasonable detail, and Lender may, in its sole discretion, consent in writing to such transaction
or series of transactions, as the case may be. For purposes of clarity, in no event shall any failure to respond by Lender be
construed as acceptance or acquiescence to any transaction or series of transactions hereunder, or any waiver by Lender with respect
to any transaction or series of transactions prohibited under this Section 4(k).

 

		(l)	To pay immediately and to remain current with all
levied taxes, assessments, charges, judgments, and expenses which may now or hereafter be entered, levied, or assessed against
Borrower, Borrower’s Business or any other business in which Borrower may be involved, and/or any of the Collateral. Lender
may, in its sole discretion, make an Advance to a third party on Borrower’s behalf to pay such taxes, assessments, charges,
judgments, and expenses to protect Lender’s interests, and may thereafter collect the amount of any such Advance, together
with any associated costs and expenses of Lender, from Borrower as an Administrative Charge pursuant to the terms of this Note.

 

		(m)	That Borrower has obtained all necessary permits and
licenses required by Law to operate its Business as a wholesale or retail seller, and, if applicable, either a lessor or renter
of Inventory, and that Borrower has complied with all filing requirements to operate as the entity or business type on record
with the appropriate governmental office(s).

 

		(n)	That no legal, administrative, or arbitration proceedings
are pending or threatened against Borrower which could reasonably affect Borrower, its Business or any Collateral, or which could
materially and adversely affect any other business of Borrower or any properties or prospects, or the general condition, financial
or otherwise, of Borrower, or Borrower’s ability to repay all Liabilities and otherwise meet its obligations under this
Note and the other Loan Documents.

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		(o)	That Borrower shall immediately notify Lender in writing
of any tax warrant, tax levy or any legal, administrative, or arbitration proceedings to which Borrower becomes a party after
the Effective Date.

 

		(p)	That all payments made by Borrower to Lender via check
or ACH, or debited or drawn from any of Borrower’s designated accounts by Lender or its Representatives pursuant to any
ACH authorization or other request for electronic payments provided by Borrower, in each case at the time of issuance by Borrower
or initiation by Lender (as the case may be), will be written, debited or drawn upon an account that contains immediately available
funds sufficient to cover the dollar amount of such check, ACH or other electronic payment (as the case may be).

 

		(q)	That Borrower’s legal name and address as they
appear in Section 15 are accurate and complete, and Borrower shall immediately notify Lender in writing of any change in Borrower’s
Place of Business, bank account information, legal name, physical address, contact information for Borrower or any principal of
Borrower (including any change in telephone number), mailing address, business type, state of organization, ownership, management,
or control and shall execute any and all documents requested by Lender at any time to bring Borrower into compliance with this
Note and any other Loan Document.

 

		(r)	That Borrower and all Guarantors are legally competent
and have all necessary power and authority to enter into and perform their respective obligations under this Note and the other
Loan Documents.

 

		(s)	That Borrower shall not disclose to any third party,
without the written consent of Lender, any terms and conditions applicable to Borrower’s Credit Line, whether such terms
and conditions are set forth on the applicable Advance Schedule, this Note or any other Loan Document.

 

		(t)	That Borrower may have an account with Lender where
information can be accessed and transmissions can be sent through the Discover Portal or by other electronic means, and Borrower
shall have the means and the affirmative obligation to control access to the account information of Borrower by passwords and
a Borrower account number. Borrower shall be solely responsible for any unauthorized access to Borrower’s account. Access
to Borrower’s account may be revoked or otherwise restricted by Lender at any time, in Lender’s sole discretion, without
prior notice to Borrower.

 

		(u)	That Borrower shall use Advances solely for Business
purposes and not for personal, family, or household purposes. This means, among other things, that Borrower may not use Advances
to purchase a vehicle for Borrower’s personal, family, or household use, and no Lender Financed Inventory may be used for
Borrower’s personal, family, or household use. This Note and all Advances requested or made hereunder shall be requested
and made only for commercial purposes and Borrower hereby expressly and unconditionally waives, to the fullest extent permitted
by Law, the protections of any Law intended to protect consumers or regulate consumer loans.

 

		(v)	That Borrower will provide Lender the name of each
individual authorized to buy Inventory and make Advance requests hereunder on Borrower’s behalf. Notwithstanding the foregoing
or anything to the contrary in any Loan Document, Borrower shall be responsible and liable for all Advance requests and other
Liabilities incurred by any such appointed individual or any other actual or apparent representative or agent of Borrower (regardless
of whether such Person is specifically appointed by Borrower as contemplated above).

 

		5.	CREDIT TERMS AND CONDITIONS. Borrower understands and agrees
to the following terms, conditions, covenants, and other agreements relating to its Credit Line and any Advances made under this
Note and the other Loan Documents, and acknowledges that any failure by Borrower to adhere to any such terms, conditions, covenants,
or other agreements shall result in Lender having the right (in addition to any other right that Lender may have), in its sole
discretion and without notice to Borrower, to declare a Maturity Event with respect to all Advances:

 

		(a)	The decision to make an Advance to or on behalf of
Borrower is the exclusive right of Lender, whether or not an Event of Default has occurred, and Borrower understands that Lender
may refuse to make an Advance at any time, with or without cause and without prior notice to Borrower or any Guarantors of such
decision. Borrower is not obligated to finance any Inventory or Receivable through Lender.

 

		(b)	Borrower’s Credit Line may require a Reserve
as a credit underwriting condition to the grant of credit and as additional security for the repayment of Liabilities by Borrower.
In the event a Reserve is either requested by Borrower or required by Lender, Borrower will be required to execute a reserve agreement,
and the applicable Required Reserve Amount and Reserve Charge will be indicated on the applicable Advance Schedule.

 

		(c)	Borrower must deliver or cause to be delivered to
Lender the Title or MSO for any Unit of Inventory at the time of any related Floorplan Advance request, or, in the event of a
Universal Source Purchase, within seven (7) days after Lender funds the related Floorplan Advance.

 

		(d)	Borrower must deliver or cause to be delivered to
Lender the original Receivable which is the subject of a Receivable Advance request within seven (7) days after Lender funds such
Receivable Advance. In the event that a Receivable Advance is made by Lender with respect to a Unit for which there is an unpaid
Floorplan Advance, then any such Receivable Advance made to Borrower shall be net of such unpaid Floorplan Advance and all other
unpaid Liabilities of Borrower with respect to such Unit.

 

		(e)	Borrower must be in complete compliance with this
Note and the other Loan Documents before an Advance request may be approved by Lender. Additionally, Lender may require certain
other information from Borrower to be submitted before Lender will consider an Advance request.

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		(f)	Borrower shall pay all Liabilities, without notice,
that concern or relate to a Floorplan Advance for any Unit of Lender Financed Inventory on or before the Maturity Date. Lender
shall apply such payments to any and all Liabilities relating to such Floorplan Advance. Notwithstanding anything herein to the
contrary, if a shortage exists between the payments received by Lender with respect to a Floorplan Advance, and the Liabilities
relating to such Floorplan Advance, then such shortage shall be immediately due and payable and shall continue to be considered
a Liability owed by Borrower to Lender, secured by the Collateral.

 

		(g)	Borrower shall pay all Liabilities, without notice,
that concern or relate to a Receivable Advance for a subject Receivable on or before the Maturity Date. Lender shall apply such
payments to any and all Liabilities relating to such Receivable Advance. Notwithstanding anything herein to the contrary, if a
shortage exists between the payments received by Lender with respect to a Receivable Advance, and the Liabilities relating to
such Receivable Advance, then such shortage shall be immediately due and payable and shall continue to be considered a Liability
owed by Borrower to Lender, secured by the Collateral.

 

		(h)	Borrower shall pay all Liabilities, without notice,
which do not concern or relate to a Floorplan Advance or a Receivable Advance, including Administrative Charges and other account
level charges, in each case on their respective Maturity Dates.

 

		(i)	With respect to payments that relate to a Floorplan
Advance or a Receivable Advance which exceed the outstanding Liabilities owed by Borrower in connection with such Floorplan Advance
or Receivable Advance, as the case may be, and with respect to payments for all other Liabilities, the order and method of application
of such payments shall be at the sole discretion of Lender. Notwithstanding anything herein to the contrary, in the event Lender
declares an Event of Default, Lender may apply all subsequent payments, including payments directly related to a Floorplan Advance
or a Receivable Advance, in any manner or order. Payments initiated or received by Lender after 5:00PM EST may be applied the
next Business Day.

 

		(j)	Unless either (i) the Maturity Date for a Floorplan
Advance has been accelerated as the result of a Maturity Event or a declaration of an Event of Default; or (ii) such Floorplan
Advance is in the final Period pursuant to the applicable Advance Schedule, a Curtailment of such Floorplan Advance will automatically
be processed at the end of the current Period. Upon the processing of the Curtailment for a Floorplan Advance, Borrower shall
pay the accrued Interest, accrued Floorplan Fee, any other accrued Floorplan Advance related fees, and a principal reduction of
such Floorplan Advance, in each case pursuant to this Note, the applicable Advance Schedule, and any applicable event sale or
promotional terms in effect for such Floorplan Advance. Additionally, unless (a) the Maturity Date for a Floorplan Advance has
been accelerated as the result of a Maturity Event or a declaration of an Event of Default; or (b) Borrower has notified Lender
that Borrower has disposed of the subject Unit of Lender Financed Inventory by sale or otherwise, Borrower shall be deemed to
have requested, and Lender may, in its sole discretion, automatically approve and process, an Extension with respect to such Floorplan
Advance. With respect to any Extension, the Period, rate of Interest, Floorplan Fee, any other fees, including Floorplan Advance
related fees, and the principal reduction required to be paid by Borrower for such Extension shall, in each case, be equal in
all respects to those of the last Period, and, upon the processing of such Extension, Borrower shall pay such accrued Interest,
accrued Floorplan Fee, any other fees, including accrued Floorplan Advance related fees, and a principal reduction of such Floorplan
Advance, in each case pursuant to this Note, the applicable Advance Schedule, and any applicable event sale or promotional terms
in effect for such Floorplan Advance. Additionally, for each Extension, Borrower shall be charged any applicable Universal Program
Fee (including any related Extension fee) set forth in the Finance Program Rate, Fee, and Term Schedule for the applicable Finance
Program.

 

		(k)	Unless either (i) the Maturity Date for a Receivable
Advance has been accelerated as the result of a Maturity Event or a declaration of an Event of Default; or (ii) such Receivable
Advance is in the final Period pursuant to the applicable Advance Schedule, a Curtailment of such Receivable Advance will automatically
be processed at the end of the current Period. Upon the processing of the Curtailment for a Receivable Advance, Borrower shall
pay the accrued Interest, accrued Receivable Fee, any other accrued Receivable Advance related fees, and a principal reduction
of such Receivable Advance, in each case pursuant to this Note, the applicable Advance Schedule, and any applicable event sale
or promotional terms in effect for such Receivable Advance.

 

		(l)	Lender or its Affiliates may hold any property (and
proceeds thereof) or funds belonging to or payable to Borrower or any of its Affiliates (“Setoff Funds”) and
apply such Setoff Funds to any outstanding Liabilities of Borrower or to any amounts owing by Borrower to any Affiliate of Lender,
and Borrower hereby grants to Lender and its Affiliates, as the case may be, a lien on such Setoff Funds. Lender and its Affiliates
may at any time apply any or all of the Setoff Funds to any outstanding Liabilities of Borrower or to any amounts owing by Borrower
to any Affiliate of Lender. Borrower expressly waives any requirement of maturity or mutuality among Lender and its various Affiliates.

 

		(m)	Any statement of Borrower’s account furnished
or made available to Borrower by Lender, to the extent no objection is made in writing by Borrower within thirty (30) days after
Borrower’s receipt of such statement, shall constitute a definitive statement of Borrower’s Credit Line and Liabilities
as of the date of such statement and shall be binding upon Borrower.

 

		(n)	Borrower hereby expressly authorizes Lender and its
Affiliates to communicate with Borrower via facsimile transmissions, email, telephonic transmissions, both to a residential telephone
line and/or cell phone, including text messaging, using an automatic telephone dialing system or an artificial or prerecorded
voice message, and/or any other forms of communication, for any purpose, including general business matters, account information,
marketing materials, collection, and/or any other communication needs. Borrower agrees that such express permission shall extend
to any and all of the contact information that Borrower has provided herein, including physical and email addresses, phone numbers,
fax numbers, etc., and to such other addresses, phone numbers, email addresses, online chat, social media platforms, etc. that
Borrower may provide to Lender or that Lender may obtain from any third party at a later date.

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		(o)	So long as Borrower is not in default of this Note
or any other Loan Document, Borrower may sell Lender Financed Inventory to bona fide buyers in the Ordinary Course of Business,
but nothing herein shall be deemed to waive or release any interest Lender may have hereunder or under any other agreement in
any proceeds or replacements of such Lender Financed Inventory. Upon the sale of any Unit of Lender Financed Inventory, Borrower
shall hold the proceeds from such sale in trust for the benefit of Lender, and Borrower shall pay to Lender, in accordance with
this Note and the other Loan Documents, an amount equal to the unpaid balance of the Liabilities relating to such Unit of Lender
Financed Inventory.

 

		(p)	Borrower shall allow Lender and its Representatives
to access Borrower’s books and records at Borrower’s Place of Business and such other places as any Lender Financed
Inventory may be located, in order to conduct audits of Borrower’s Lender Financed Inventory, in each case without prior
notice to Borrower of such audits. Borrower shall be responsible for and agrees to pay all of Lender’s expenses in conducting
such audits.

 

		(q)	Each Unit of Lender Financed Inventory must be physically
verified at the time of any audit conducted by or on behalf of Lender to be at Borrower’s Place of Business, or such other
place as Lender may authorize. In the event that any Unit of Lender Financed Inventory is not so verified, Lender may, in its
sole discretion, provide Borrower an opportunity to produce such Unit of Lender Financed Inventory at Borrower’s Place of
Business, or such other place as Lender may authorize.

 

		(r)	Borrower may request from Lender, for a legitimate
business purpose, the Title to a Unit of Lender Financed Inventory, but Lender reserves the right to grant or deny such request
in its sole discretion. In the event Lender grants any such request, any Title provided to Borrower or to any other Person on
Borrower’s behalf, must be returned to Lender by the close of business on the seventh (7th) day after the date
of Lender’s release of such Title.

 

		(s)	Borrower and each Guarantor authorize Lender to obtain
and share credit information relating to Borrower and its Guarantors from and with credit bureaus, financial institutions, trade
creditors, affiliates, and others and to conduct such other credit investigations that Lender in its sole discretion deems necessary.
The individual signing below on behalf of Borrower expressly authorizes Lender to obtain his or her consumer credit report from
time to time at Lender’s discretion, and expressly ratifies any such consumer credit report that may have been obtained
by or on behalf of Lender prior to the Effective Date. Borrower also authorizes Lender to contact any third parties to disclose
information, including information contained in Lender application, for the purpose of, among other things, obtaining intercreditor
agreements and perfecting Lender’s security interest. Further, if a Credit Line is granted, Borrower and each Guarantor
authorize Lender to review Borrower’s account periodically, which may include obtaining additional credit information on
Borrower and each Guarantor through any available medium.

 

		(t)	Borrower’s account is subject to “NSF”
fees in the amount stated in the Finance Program Rate, Fee, and Term Schedule or the maximum amount permitted by Law for each
check or ACH issued by Borrower and each ACH or other electronic payment debited or drawn from any of Borrower’s designated
accounts by Lender or its Representatives pursuant to an ACH authorization or other request for electronic payments provided by
Borrower which is subsequently returned for insufficient funds, in addition to any charge or fee imposed by Borrower’s and/or
Lender’s depository institution.

 

		(u)	Lender may process checks electronically, at first
presentment and any re-presentments, by transmitting the amount of the check, routing number, account number, and check serial
number to Borrower’s financial institution. By submitting a check for payment, Borrower authorizes Lender to initiate an
electronic debit from Borrower’s bank account. When Lender processes Borrower’s check electronically, Borrower’s
payment may be debited from Borrower’s bank account as soon as the same day Lender receives Borrower’s check.

 

		(v)	Borrower’s account is subject to a late fee
in the amount stated in the Finance Program Rate, Fee, and Term Schedule or the maximum amount permitted by Law for any Unit of
Lender Financed Inventory for which Borrower fails to remit payment under this Note or any other Loan Document when due. Borrower
acknowledges and agrees that the late fee charged by Lender is a reasonable estimate of Lender’s additional administrative
burden and costs incurred due to the delay and inconvenience to Lender associated with a late payment.

 

		(w)	Borrower’s account is subject to Administrative
Charges. Borrower acknowledges and agrees that any such Administrative Charge charged by Lender is permitted under this Note and
the other Loan Documents, and Borrower consents to the assessment of any such Administrative Charge to Borrower’s account.

 

		(x)	Borrower’s account is subject to Universal Program
Fees. Lender maintains and publishes the “Finance Program Rate, Fee, and Term Schedule” for each Finance Program
applicable to Borrower’s Credit Line via posting the same on the Discover Portal. Borrower may request a copy of the Finance
Program Rate, Fee, and Term Schedule from Lender in writing at any time. All universal or generally applicable rates and fees
and any amendments to the Terms and Conditions shall be published therein, incorporated herein by reference and made a part of
this Note and any other applicable Loan Documents. The rates and fees applied to Borrower’s Liabilities under this Note,
any amended Terms and Conditions, or any applicable event sale or promotional terms in effect with respect to an eligible Floorplan
Advance or Receivable Advance shall be (i) the applicable rates and fees set forth on the applicable Advance Schedule; (ii) the
rates, fees, and amendments to the Terms and Conditions most recently published on the applicable Finance Program Rate, Fee, and
Term Schedule; and (iii) the rates, fees, terms, and conditions as set forth in the applicable marketing materials outlining event
sale and/or promotional terms. Lender may amend the rates, fees, terms and/or Terms and Conditions from time to time, at Lender’s
sole discretion, and without additional notice to Borrower other than the publication of such amendments on the Discover Portal.

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		(y)	Lender maintains and publishes the Lender Guide on
the Discover Portal. Borrower acknowledges and agrees that the Lender Guide and the content found therein are not part of this
Note or any other Loan Document, are for informational purposes only, and do not create any new or additional contract rights
or obligations for Borrower or Lender. Borrower acknowledges and agrees that the Lender Guide and the content therein is subject
to change by Lender at any time without notice. To the extent the Lender Guide and the content therein are determined to create
or provide additional contractual rights for Borrower and a conflict exists between this Note or any other Loan Document, on the
one hand, and the Lender Guide, on the other hand, the provision of this Note or the other Loan Document, as the case may be,
shall prevail.

 

		(z)	Borrower waives demand, presentment for payment, notice
of dishonor, protest, and notice of protest, and expressly agrees that this Note and all payments coming due under it and any
other Loan Documents may be extended or modified from time to time without in any way affecting Borrower’s liability under
this Note or any other Loan Document. Borrower and Guarantors understand that Lender may, at any time and without notice to Borrower,
with or without cause, demand that this Note immediately be paid in full. The demand nature of this Note does not limit Lender’s
election of remedies upon an Event of Default by Borrower, and Borrower and Guarantors acknowledge that upon Lender’s declaration
of an occurrence of an Event of Default, all Liabilities of Borrower shall automatically accelerate and Lender may, at any time
and without notice to Borrower, demand immediate payment of all Liabilities of Borrower and take such further action as may be
contemplated under Section 7 or otherwise permitted by Law or in equity. Borrower shall have the right to pay all Liabilities
in full at any time.

 

		(aa)	Notwithstanding Section 4(f), upon any disposition
of a Unit of Lender Financed Inventory, whether by sale or otherwise, or the receipt by Borrower (or any other Person on behalf
of Borrower) of full or partial payment by or on behalf of the purchaser of such Unit of Lender Financed Inventory, Lender may,
without notice to Borrower and in Lender’s sole discretion, declare a Maturity Event with respect to the related Floorplan
Advance.

 

		(bb)	Notwithstanding Section 4(g), upon any receipt by
Borrower of full payment under any Receivable that is subject to a Receivable Advance, or upon Borrower’s declaration of
a default under any such Receivable, Lender may, without notice to Borrower and in Lender’s sole discretion, declare a Maturity
Event with respect to the related Receivable Advance.

 

		(cc)	The receipt, by Lender or Borrower, or any third party
on Borrower’s behalf, of proceeds or other consideration related to any Unit of Lender Financed Inventory shall constitute
conclusive proof of the sale or other disposition of such Unit of Lender Financed Inventory for purposes of this Note and the
other Loan Documents.

 

		(dd)	Borrower
acknowledges that Cox Automotive, Inc. (formerly Manheim, Inc.) and Manheim Remarketing, Inc., together with each of their respective
direct and indirect subsidiaries and affiliated U.S. auctions (collectively “Manheim”), are Affiliates of Lender.
Borrower may from time to time purchase a Unit through a Manheim auction sale (including online purchases via OVE.com
or through other Manheim-operated online sales channels). For any Unit purchased by Borrower through a Manheim auction sale
(including online purchases via OVE.com or through other Manheim-operated online sales channels) that remains unsettled
with Manheim (each, an “Unsettled Unit”), Borrower hereby requests, directs and authorizes Lender, as of the date
Lender receives a request for payment from Manheim with respect to such Unsettled Unit, to process and approve, in Lender’s
sole discretion, a Floorplan Advance on Borrower’s Credit Line, which Lender may pay and remit directly to Manheim on Borrower’s
behalf for such Unsettled Unit. Borrower acknowledges that if any such request is received by Lender from Manheim within seven
(7) days of Borrower’s purchase of such Unsettled Unit, the purchase will be processed as a Universal Source Purchase, and
if any such request is received by Lender from Manheim outside of seven (7) days of Borrower’s purchase of such Unsettled
Unit, the purchase will be processed as a Specific Source Purchase.

 

		6.	EVENTS OF DEFAULT. The occurrence of any of the following
events shall be considered an event of default under this Note and the other Loan Documents (each, an “Event of Default”):

 

		(a)	Borrower or any Guarantor fails to perform any of
its obligations, undertakings or covenants under this Note or under any other Loan Document, including any obligation to repay
any Liability when due and Borrower’s obligation to pay upon demand any outstanding Liabilities under this Note or any of
the other Loan Documents.

 

		(b)	Borrower or any Guarantor breaches or otherwise violates
any provision of this Note or any other Loan Document.

 

		(c)	Borrower makes any representation or warranty to Lender,
or provides to Lender any schedule, certificate, financial statement, report, notice, or other writing, which is false or misleading
in any material respect when made or delivered.

 

		(d)	Any damage or destruction of any Inventory and appropriate
insurance naming Lender as “Loss Payee” is not in effect as required under Section 4(c).

 

		(e)	Borrower or any Guarantor, or any of their respective
Parent Companies, has defaulted in the payment or performance of any debt or obligation under any other agreement, whether to
Lender or to a third party.

 

		(f)	Borrower or any Guarantor, or any of their respective
Parent Companies, becomes insolvent or consents to the appointment of a trustee, receiver, or other custodian for such Borrower,
Guarantor, or Parent Company, as the case may be, or for any property belonging to any of the foregoing Persons; or such Borrower,
Guarantor, or Parent Company, as the case may be, makes a general assignment for the benefit of its creditors; or any bankruptcy,
reorganization, debt arrangement, or other case or proceeding under any bankruptcy or insolvency Law, or a dissolution or liquidation
proceeding, is commenced by or against such Borrower, Guarantor, or Parent Company, as the case may be.

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		(g)	Any material change in the management, ownership,
or control of Borrower or its Parent Company occurs (unless such material change has been consented to in writing by Lender).

 

		(h)	The voluntary or administrative dissolution, death,
or incompetence of Borrower or any Guarantor, or any of their respective Parent Companies.

 

		(i)	Any change in the financial condition of Borrower
or any Guarantor, or any of their respective Parent Companies, which Lender in good faith deems adverse.

 

		(j)	Borrower or any Guarantor, or any of their respective
Parent Companies, admits in writing that it is unable to pay its debts as they become due.

 

		(k)	Borrower fails to deliver, revokes or amends (other
than at the written request of Lender) any power of attorney or similar authorization that it has executed in favor of Lender.

 

		(l)	Lender in good faith deems itself insecure for any
reason.

 

		7.	RIGHTS AND REMEDIES. Upon any Event of Default, Lender
may, at its option and without notice to Borrower, exercise any or all of the following rights in a separate, successive, or concurrent
fashion, and Lender’s exercise of any rights hereunder shall not preclude Lender from pursuing other rights and remedies
in conjunction therewith or at a later time:

 

		(a)	Demand immediate payment of all Liabilities and other
indebtedness and amounts owed to Lender and its Affiliates by Borrower and its Affiliates. Lender shall have all rights and remedies
available hereunder and under the other Loan Documents, and all rights and remedies available to Lender at law or in equity, including
the rights and remedies of a secured party under the UCC. These rights and remedies include the right to cancel any unfunded Advances;
to enter into Borrower’s premises with or without legal process, but without force, and to take possession of and remove
any Collateral; and to notify any account debtors or other Person obligated on Collateral to make payment or otherwise render
performance to or for the benefit of Lender. Lender shall have the right to contact any third parties, including auctions, governmental
agencies, Borrower’s licensing authorities, consumer finance companies, floorplan companies, other finance companies, consumers,
other borrowers, Auction Insurance Agency, and such other Persons as Lender may elect to contact in its sole discretion, and to
share such information as is necessary, in Lender’s sole discretion, for any reason, including for purposes of and related
to collection of any Liabilities of Borrower. At Lender’s request, and to the extent Borrower may lawfully do so, Borrower
shall assemble, prepare for removal, and make available to Lender at a place designated by Lender which is reasonably convenient
for Lender and Borrower such Collateral as Lender may request.

 

		(b)	Initiate proceedings to appoint a receiver in any
court of competent jurisdiction. To the extent permitted by Law, Borrower waives the right to notice and hearing of the appointment
of a receiver and consents to such appointment without requiring Lender to post a bond.

 

		(c)	To the extent permitted by Law, Borrower gives consent
to Lender to proceed in any action to collect on or execute against any and all bonds that Borrower or its Affiliates may have
posted with any governmental authorities or third parties.

 

		(d)	Without limiting the foregoing, Lender may take control
of any funds generated by any Collateral, and in Lender’s name or Borrower’s name, demand, collect, receipt for, settle,
compromise, sue for, repossess, accept returns of, foreclose, or realize upon any Collateral. Borrower waives any and all rights
it may have to notice prior to seizure by Lender of any Collateral. Borrower agrees that private sale of any Lender Financed Inventory
at the amount then owed to Lender on such Lender Financed Inventory, less costs reasonably incurred by Lender in preparation of
disposition of such Lender Financed Inventory, shall be a commercially reasonable method of disposition of such Collateral. Additionally,
Borrower further agrees that any Inventory Collateral repossessed or otherwise obtained by Lender after an Event of Default may
be disposed of by Lender, in Lender’s sole discretion, at any regular or online sale of any wholesale auto auction that
may be an Affiliate of Lender, or at any National Auto Auction Association member, and, in each case, any such a sale is and shall
be deemed commercially reasonable for all purposes. Borrower shall be liable to Lender for any deficiency resulting from Lender’s
disposition of the Collateral. Borrower agrees that the Collateral is of the type customarily sold on a recognized market and
that Lender therefore has no obligation to notify Borrower prior to a sale of any Collateral. Lender shall not be responsible
for the accuracy or validity of any document or for the existence or value of any Collateral. Lender shall not be required to
marshal any assets in favor of Borrower. Lender has no obligation to pursue any third party for any liability or obligation owed
to Borrower. Borrower further agrees to pay all reasonable attorneys’ fees and other collection costs incurred by Lender
and its Affiliates in enforcing this Note and any other Loan Document after any Event of Default. To the extent not prohibited
by Law, Borrower waives all appraisement, valuation, anti-deficiency, homestead, exemption, and usury Laws now or hereafter in
effect, and releases all right to appeal after payment in full.

    	Page 8 of 13	NextGear Demand Promissory Note and Loan and Security Agreement (v. 1.1) (129137)

     

    

 

		8.	LOAN DOCUMENTS. In addition to the execution and delivery
of this Note, upon the request of Lender, Borrower shall execute (or cause the execution of) the following additional documents
in connection with Borrower’s Credit Line (together with all other documents and instruments executed by Borrower in connection
with this Note or Borrower’s Credit Line, and in each case as the same may be amended, restated, renewed, extended or otherwise
modified from time to time, the “Loan Documents”), each of which shall be incorporated herein by reference
and made a part of this Note: (a) a power of attorney in favor of Lender and its designated Representative; (b) prior to Lender
making any Advances under this Note, an Advance Schedule for each unique set of terms for the Finance Program applicable to Borrower,
which may be amended from time to time; (c) such guaranties of Borrower’s Liabilities as Lender may request, including guaranties
of all legal and beneficial owners of Borrower; (d) a reserve agreement in favor of Lender; (e) prior to Lender authorizing Borrower
to place any Lender Financed Inventory on consignment with another licensed dealer, a consignment agreement acceptable to Lender;
(f) such ACH authorization and requests for automated payments as Lender may request from time to time; and (g) such other documents
or certifications as Lender may request or require from Borrower or any Guarantor from time to time..

 

		9.	ASSIGNMENT. This Note and any other Loan Document may be
assigned by Lender without notice to Borrower, but Borrower may not assign this Note or any other Loan Document without the prior
written consent of Lender.

 

		10.	THIRD PARTY BENEFICIARIES.
                                         Neither this Note nor any other Loan Document is intended to confer upon any Person other
                                         than the Parties any rights or remedies hereunder; provided, however,
                                         that the rights and remedies afforded to Lender under Sections 2, 5(l), 5(n), 5(s),
                                         5(dd), 7, 11 and 14 shall also inure to the benefit of the Affiliates of Lender and such
                                         Affiliates shall be intended third party beneficiaries of the provisions thereof.

 

		11.	INDEMNIFICATION. Borrower shall, at its expense, defend,
indemnify and hold harmless Lender and its Affiliates, and each of their respective directors, officers, principals, partners,
shareholders or holders of any ownership interest, as the case may be, employees, Representatives, attorneys, and agents (together
with Lender, the “Lender Parties”) from and against any and all claims, judgments, losses, damages, demands,
payments, fines, costs, expenses (including reasonable attorneys’ fees and court courts), and liabilities of any nature
or description incurred by a Lender Party to the extent arising from or relating to any of the following: (a) any personal injury
or property damage caused by Borrower or any of its Representatives; (b) any breach by Borrower of this Note or any other Loan
Document, including the breach of any representation, warranty, or other agreement contained in this Note or in any other Loan
Document; and (c) Borrower’s operation of its Business or any of Borrower’s operations or activities.

 

		12.	NO JOINT VENTURE, PARTNERSHIP, OR AGENCY. Nothing contained
in this Note or in any other Loan Document shall subject Lender or its Affiliates or any of its or their respective Representatives
to any liability for, or in respect of, the business, assets, profits, losses, or liabilities of the Borrower. This Note does
not constitute and shall not be characterized as a joint venture, partnership, or agency between Lender and Borrower. Nothing
in this Section 12 shall limit any of the Liabilities of Borrower, or any of the other obligations of Borrower or any Guarantor
under this Note or any of the other Loan Documents.

 

		13.	AMENDMENT; MERGER. This Note and the other Loan Documents
are intended by the Parties to be an amendment to and restatement of any prior Demand Promissory Note and Loan and Security Agreement
or similar document or instrument (including any prior promissory note, loan and security agreement or similar contract) between
Lender (or any predecessor of Lender, including Dealer Services Corporation and/or Manheim Automotive Financial Services, Inc.)
and Borrower. With the exception of the amendments and modifications that Lender is entitled to make without the prior written
consent of Borrower pursuant to this Note or any other Loan Document, this Note may be modified or amended only upon the written
consent of Lender and Borrower. In the case of the other Loan Documents, with the exception of the amendments and modifications
that Lender is entitled to make without the prior written consent of Borrower pursuant to this Note or any other Loan Document,
such other Loan Documents may be modified or amended only upon the written consent of Lender and the Person to whom such amendment
relates. Additionally, the Finance Programs, Lender Guide, descriptions of specific Units of Lender Financed Inventory, amounts
and terms of Advances, Maturity Dates, Extensions, Interest, Base Rates, Administrative Charges, Lender Universal Program Fees,
late fees, NSF fees, and other charges allowed by this Note or any other Loan Document may be proven by the records kept by Lender.
Notwithstanding the foregoing, any advance and/or loan originated pursuant to one or more agreements between Borrower and Dealer
Services Corporation and/or Manheim Automotive Financial Services, Inc. prior to the Effective Date for which indebtedness from
Borrower remains outstanding as of the Effective Date, shall remain subject to the terms and conditions of such prior agreement(s)
for all intents and purposes until such indebtedness has been indefeasibly repaid and satisfied in full.

    	Page 9 of 13	NextGear Demand Promissory Note and Loan and Security Agreement (v. 1.1) (129137)

     

    

 

		14.	EXECUTION. The Parties understand and agree that Lender
may execute this Note and any other Loan Documents by affixing the signature of an authorized representative of Lender via signature
stamp. Additionally, Lender may execute this Note and any other Loan Documents by affixing to this Note or such other Loan Document,
as the case may be, an electronic or digital signature, which electronic or digital signature shall for all purposes be deemed
effective to constitute the valid signature of Lender. Any electronic or digital signature affixed to this Note or any other Loan
Documents by Lender shall be deemed to satisfy all requirements imposed on electronic or digital signatures under the UCC, the
Electronic Signatures in Global and National Commerce Act (the “E-Sign Act”), and any other similar Laws relating
to the validity or enforceability of electronic or digital signatures, and such electronic or digital signature shall not be denied
legal effect, validity, or enforceability solely because it is in electronic or digital form. Notwithstanding the foregoing, Borrower
may execute this Note and any other Loan Documents only by original signature of an authorized representative of Borrower, unless
otherwise authorized by Lender. Lender may, in its sole discretion, permit Borrower and/or any Guarantor to execute this Note
and any other Loan Documents by affixing to this Note or such other Loan Document, as the case may be, an electronic or digital
signature of an authorized representative of Borrower or of any Guarantor, as applicable. Borrower and each Guarantor acknowledges
and agrees that any electronic or digital signature of Borrower or any such Guarantor shall for all purposes be deemed effective
and constitute the valid signature of Borrower or any such Guarantor, as the case may be, and shall be deemed to satisfy all requirements
imposed on electronic or digital signatures under the UCC, the E-Sign Act, and any other similar Laws relating to the validity
or enforceability of electronic or digital signatures (including without limitation, any enactment of the Uniform Electronic Transactions
Act (UETA)), and such electronic or digital signature shall not be denied legal effect, validity, or enforceability solely because
it is in electronic or digital form. A facsimile or photocopied reproduction of signatures on this Note and any other Loan Documents
shall be deemed original signatures for all intents and purposes. This Note and the other Loan Documents may be executed by the
Parties in one or more counterparts which, collectively, shall constitute one and the same agreement.

 

		15.	NOTICES. All notices, demands and requests required or
permitted to be given under this Note and any other Loan Document shall be (a) in writing, (b) delivered by personal delivery
or sent by commercial delivery service or certified mail, return receipt requested, (c) deemed to have been given on the date
of personal delivery or the date set forth in the records of the delivery service or on the return receipt, and (d) addressed
as follows (or, in the case of Lender, to any other subsequent address that Lender may provide to Borrower (through written notice,
via the Discover Portal, or otherwise) for purposes of directing future notices, demands or requests):

 

	 	If to Lender:	NextGear Capital, Inc., 11799 North College Avenue, Carmel, IN 46032
	 	 	Telephone: (317) 571-3721
	 	 	 
	 	 	with a copy to:
	 	 	 
	 	 	NextGear Capital, Inc., 11799 North College Avenue, Carmel, IN 46032
	 	 	Telephone: (317) 571-3721 
	 	 	Attention: Legal Department
	 	 	 
	 	If to Borrower:	LMP Motors.com, LLC
	 	 	601 N State Road 7 , Fort Lauderdale, FL 33317

        Telephone: (954) 845-0352

 

		16.	NO WAIVER. No failure or delay by Lender in exercising
any right, power, or privilege or the granting of an exception by Lender with respect to any of the Terms or Conditions will operate
as a waiver of such right, power, or privilege, and no single or partial exercise of any such right, power, or privilege will
preclude any other or further exercise of such right, power, or privilege, or the exercise of any other right, power, or privilege
by Lender.

 

		17.	TERMINATION. No termination of this Note shall alter Borrower’s
Liabilities or any outstanding obligations of Borrower or any Guarantor under this Note or any of the other Loan Documents, including
any outstanding obligations relating to Advances and amounts funded or committed prior to the effective date of such termination,
and all rights and remedies, including the security interest granted herein and the rights of Lender as a secured party hereunder,
shall extend until all Liabilities of Borrower have been indefeasibly paid and satisfied in full.

 

		18.	LEGAL FEES AND COLLECTION COSTS. Borrower shall pay to
Lender all reasonable legal fees, expenses, and collection costs incurred by any Lender Parties, including Lender as a result
of any Event of Default, or any failure by Borrower or any Guarantor to perform any obligation or satisfy any Liability of Borrower,
including any prosecution by Borrower or any Guarantor or any of their respective Representatives of affirmative claims or counterclaims
against Lender Parties.

 

		19.	SEVERABILITY. Any provision of this Note or any other Loan
Document that is invalid or unenforceable in any jurisdiction shall, as to that jurisdiction, be ineffective to the extent of
such invalidity or unenforceability, without rendering invalid or unenforceable the remaining provisions of this Note and the
other Loan Documents or affecting the validity or enforceability of any provision of this Note or any other Loan Document in any
other jurisdiction.

 

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		20.	GOVERNING LAW. Except with respect to the interpretation
or enforcement of the arbitration and other provisions set forth in Section 22 (which shall be governed by the Federal Arbitration
Act), the validity, enforceability, and interpretation of this Note and the other Loan Documents shall be governed by the internal
Laws of the State of Indiana, without regard to conflicts of Laws provisions thereof.

 

		21.	JURISDICTION AND VENUE. As evidenced by Borrower’s
signature below, subject to the provisions noted in Section 22, Borrower submits to the personal jurisdiction and venue of the
state and federal courts of Marion County and Hamilton County, Indiana, and agrees that any and all claims or disputes pertaining
to this Note or any other Loan Document, or to any matter arising out of or related to this Note or any other Loan Document, which
are initiated by Borrower against Lender, to the extent, if any, that such claims or disputes are not subject to the provisions
noted in Section 22 below, shall be brought in the state or federal courts of Marion County or Hamilton County, Indiana. Further,
Borrower expressly consents to the jurisdiction and venue of the state and federal courts of Marion County and Hamilton County,
Indiana, as to any legal or equitable action that may be brought in such court by Lender, and waives any objection based upon
lack of personal jurisdiction, improper venue, or forum non conveniens with respect to any such action. Borrower acknowledges
and agrees that Lender reserves the right to initiate and prosecute any action against Borrower in any court of competent jurisdiction,
and Borrower consents to such forum as Lender may elect.

 

		22.	MANDATORY BINDING ARBITRATION; WAIVER OF CLASS ACTION RIGHTS.

 

		(a)	In most cases, any disputes or claims that Borrower
may have can be resolved quickly and to Borrower’s satisfaction by contacting Lender regarding such dispute or claims. In
the unlikely event that Lender is unable to resolve a dispute or claim that Borrower may have, Borrower agrees to arbitrate any
such dispute or claim in accordance with this Section 22. This agreement to arbitrate is intended to be broadly interpreted, and
includes (i) all disputes, claims and counterclaims arising out of or relating to this Note or any other Loan Document or any
aspect of Borrower’s past, present or future relationship with Lender, whether based in contract, tort, statute, fraud,
misrepresentation or any other legal theory; (ii) all disputes, claims and counterclaims that may have arisen prior to the Effective
Date or from any prior dealings, contract or agreement between Borrower and Lender (including all disputes, claims and counterclaims
relating to any marketing or advertising by Lender); and (iii) any disputes, claims and counterclaims that may arise after the
termination of this Note and any other Loan Document. Additionally, Borrower acknowledges that Lender may (BUT SHALL IN NO EVENT
BE REQUIRED TO) arbitrate any dispute or claim that it may have against Borrower, with any such arbitration being governed by
the provisions of this Section 22. BY AGREEING TO ARBITRATION, BORROWER UNDERSTANDS AND AGREES THAT IT IS WAIVING ITS RIGHTS TO
MAINTAIN OTHER AVAILABLE RESOLUTION PROCESSES, SUCH AS COURT ACTION (INCLUDING A JURY TRIAL) OR ADMINISTRATIVE PROCEEDING, IN
ORDER TO SETTLE OR RESOLVE DISPUTES OR ANY CLAIMS AGAINST LENDER. ARBITRATION IS DIFFERENT THAN A COURT ACTION, AND THE RULES
IN ARBITRATION ARE DIFFERENT THAN THE RULES THAT APPLY IN COURT. THERE IS NO JUDGE OR JURY IN ARBITRATION, AND REVIEW IS LIMITED,
BUT AN ARBITRATOR CAN AWARD THE SAME DAMAGES AND RELIEF AS A COURT, SUBJECT TO THE AGREED TERMS AND LIMITATIONS IN THIS NOTE.
Borrower, at its election, may opt-out of the arbitration provisions set forth in Sections 22(a), 22(c) and 22(d) by providing
written notice of its election to opt-out no later than thirty (30) days after the Effective Date, which notice shall be provided
to Lender pursuant to Section 15 (“Opt-Out Notice”), provided that such Opt-Out Notice shall become effective
only upon Borrower’s receipt of written confirmation from Lender that such Opt-Out Notice has been received by Lender within
the required time period. Borrower acknowledges and agrees that, irrespective of any Opt-Out Notice or any written confirmation
thereof, Borrower shall in all events be subject to the provisions of Section 22(b).

 

		(b)	ANY ARBITRATION OR OTHER LEGAL PROCEEDING OF ANY TYPE
OR NATURE ARISING UNDER OR RELATING TO THIS NOTE OR ANY OF THE OTHER LOAN DOCUMENTS, OR TO ANY ASPECT OF BORROWER’S PAST,
PRESENT OR FUTURE RELATIONSHIP OR ACTIVITIES WITH OR INVOLVING LENDER (INCLUDING ANY MARKETING ACTIVITIES OR SOLICITATIONS BY
OR ON BEHALF OF LENDER), WILL TAKE PLACE ON AN INDIVIDUAL BASIS. CLASS ARBITRATIONS AND CLASS ACTIONS OF ANY KIND (WHETHER PURSUED
THROUGH ARBITRATION OR THROUGH THE COURTS) ARE NOT PERMITTED. BORROWER AGREES THAT IT MAY BRING CLAIMS AGAINST LENDER ONLY IN
ITS INDIVIDUAL CAPACITY, AND NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS OR REPRESENTATIVE PROCEEDING. BORROWER
AGREES THAT, BY ENTERING INTO THIS NOTE, BORROWER IS WAIVING ITS RIGHT TO PARTICIPATE IN ANY CLASS ACTION OR OTHER SIMILAR REPRESENTATIVE
PROCEEDING. UNLESS CONSENTED TO IN WRITING BY LENDER, THE ARBITRATOR MAY NOT CONSOLIDATE MORE THAN ONE PERSON’S CLAIMS,
AND MAY NOT OTHERWISE PRESIDE OVER ANY FORM OF A REPRESENTATIVE OR CLASS PROCEEDING. BORROWER ACKNOWLEDGES AND AGREES THAT THE
SIZE OF BORROWER’S CREDIT LINE, THE INTEREST RATE TO WHICH ADVANCES ARE SUBJECT AND CERTAIN FEES CHARGED TO BORROWER, AS
WELL AS THE SIZE AND DATES OF SPECIFIC ADVANCES, ARE UNIQUE TO AND NEGOTIATED BY BORROWER, AND THAT SUCH FACTORS WILL AND DO VARY
AMONG BORROWERS.

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		(c)	Any dispute
                                         or claim subject to arbitration pursuant to this Section 22 shall be submitted to binding
                                         arbitration administered by the Judicial Arbitration and Mediation Service (“JAMS”)
                                         pursuant to its Comprehensive Arbitration Rules and Procedures as then in effect (the
                                         “JAMS Comprehensive Rules”); provided, however,
                                         that any dispute or claim that is subject to arbitration pursuant to this Section 22
                                         and that involves disputes or claims where the aggregate amount reasonably in dispute
                                         or controversy is less than $100,000, shall be submitted to binding arbitration administered
                                         by JAMS pursuant to its Streamlined Arbitration Rules and Procedures as in effect on
                                         the Effective Date (the “JAMS Streamlined Rules”). The disputes and
                                         claims subject to arbitration pursuant to this Section 22 will be resolved by a single
                                         arbitrator selected pursuant to the JAMS Comprehensive Rules or the JAMS Streamlined
                                         Rules, as the case may be. The arbitrator shall be bound by and shall strictly enforce
                                         the terms of this Note and the other Loan Documents and may not limit, expand, or otherwise
                                         modify any term or provision of this Note or any other Loan Document or any other contract
                                         or document between Borrower and Lender. The arbitrator shall not have the power to award
                                         to Borrower any damages that are excluded or that have been waived by Borrower under
                                         this Note or any other Loan Document, and Borrower irrevocably waives any claim that
                                         it may have thereto. The arbitrator shall not have the power to order pre-hearing discovery
                                         of documents or the taking of depositions. The arbitrator shall render a written decision
                                         within six (6) months after being selected. Any arbitration will be held in Indianapolis,
                                         Indiana (or its greater metro area). Each Party will bear its own expenses in the arbitration
                                         and will share equally the costs of the arbitration; provided, however,
                                         that the arbitrator may, in his or her discretion, award costs and fees to the prevailing
                                         Party. The result of any arbitration shall be final and binding upon the Parties. Judgment
                                         upon any arbitration award may be entered in any court having jurisdiction over the award
                                         or over the applicable party or its assets.

 

		(d)	This Note and the other Loan Documents evidence transactions
in interstate commerce, and thus the Federal Arbitration Act governs the interpretation and enforcement of this Section 22, notwithstanding
the provisions of Section 20.

 

		23.	WAIVER OF JURY TRIAL. AFTER CONSULTING OR HAVING HAD THE
OPPORTUNITY TO CONSULT WITH COUNSEL, LENDER AND BORROWER KNOWINGLY, VOLUNTARILY, AND INTENTIONALLY WAIVE ANY RIGHT EITHER PARTY
MAY HAVE TO A TRIAL BY JURY IN ANY LITIGATION BASED UPON OR ARISING OUT OF THIS NOTE OR ANY OTHER LOAN DOCUMENT, OR ANY OF THE
TRANSACTIONS CONTEMPLATED BY THIS NOTE OR ANY OF THE OTHER LOAN DOCUMENTS, OR ANY COURSE OF CONDUCT, STATEMENT, WHETHER ORAL OR
WRITTEN, OR ACTIONS OF LENDER OR BORROWER. NEITHER LENDER NOR BORROWER SHALL SEEK TO CONSOLIDATE, BY COUNTERCLAIM OR OTHERWISE,
ANY ACTION IN WHICH A JURY TRIAL HAS BEEN WAIVED WITH ANY OTHER ACTION IN WHICH A JURY TRIAL CANNOT BE OR HAS NOT BEEN WAIVED.
THESE PROVISIONS SHALL NOT HAVE BEEN DEEMED TO HAVE BEEN MODIFIED IN ANY RESPECT OR RELINQUISHED BY LENDER OR BORROWER EXCEPT
BY WRITTEN INSTRUMENT EXECUTED BY BOTH LENDER AND BORROWER.

 

		24.	LIMITATION OF LIABILITY. IN NO EVENT SHALL ANY LENDER PARTY
BE LIABLE FOR ANY SPECIAL, INDIRECT, EXEMPLARY, PUNITIVE, INCIDENTAL, MULTIPLE OR CONSEQUENTIAL DAMAGES (INCLUDING ANY DAMAGES
RESULTING FROM LOSS OF USE, LOSS OF PROFITS, LOSS OF BUSINESS OR OTHER ECONOMIC LOSS) ARISING OUT OF OR IN CONNECTION WITH THIS
NOTE OR ANY OTHER LOAN DOCUMENT (OR ANY ADVANCES MADE BY LENDER HEREUNDER OR THEREUNDER), EVEN IF SUCH LENDER PARTY HAS BEEN ADVISED
OF THE POSSIBILITY OF SUCH DAMAGES. FURTHER, IN NO EVENT SHALL THE LENDER PARTIES, COLLECTIVELY, BE LIABLE FOR ANY DAMAGES UNDER
THIS NOTE OR ANY OTHER LOAN DOCUMENT (OR IN CONNECTION WITH ANY ADVANCE BY LENDER HEREUNDER OR THEREUNDER) THAT EXCEED, IN THE
AGGREGATE, AN AMOUNT EQUAL TO THE SUM OF THE INTEREST AND FLOORPLAN FEES ACTUALLY PAID TO LENDER BY BORROWER UNDER THIS NOTE DURING
THE TWELVE (12) MONTH PERIOD IMMEDIATELY PRECEDING THE EVENT GIVING RISE TO THE CLAIM AT ISSUE (OR, IN THE CASE OF MULTIPLE EVENTS,
THE FIRST SUCH EVENT GIVING RISE TO THE CLAIM AT ISSUE).

 

		25.	WAIVER OF BOND. BORROWER WAIVES, TO THE FULLEST EXTENT
PERMITTED BY LAW, ANY BOND OR SURETY OR SECURITY ON SUCH BOND WHICH MIGHT, BUT FOR THIS WAIVER, BE REQUIRED OF LENDER DURING ATTEMPTS
TO RECOVER COLLATERAL OR OTHERWISE.

 

		26.	CALIFORNIA BORROWERS. In the event Borrower’s Place
of Business is in the State of California, Borrower acknowledges and agrees that any initial Advance made under this Note must
be in the amount of at least Five Thousand Dollars and Zero Cents ($5,000), and Borrower shall neither request nor accept any
initial Advance under this Note in an amount less than Five Thousand Dollars and Zero Cents ($5,000).

    	Page 12 of 13	NextGear Demand Promissory Note and Loan and Security Agreement (v. 1.1) (129137)

     

    

 		27.	DISCLAIMER. THE DISCOVER PORTAL LICENSED OR PROVIDED HEREUNDER
IS PROVIDED AS A CONVENIENCE TO BORROWER AND ON AN “AS-IS” BASIS. LENDER MAKES NO REPRESENTATIONS OR WARRANTIES OF
ANY KIND, ORAL OR WRITTEN, EXPRESS OR IMPLIED, INCLUDING ANY IMPLIED WARRANTIES OF NON-INFRINGEMENT, TITLE, ACCURACY, MERCHANTABILITY,
OR FITNESS FOR A PARTICULAR PURPOSE. WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, LENDER MAKES NO REPRESENTATIONS OR WARRANTIES
THAT THE DISCOVER PORTAL WILL OPERATE ERROR-FREE OR ON AN UNINTERRUPTED BASIS, AND LENDER SHALL IN NO EVENT BE LIABLE OR RESPONSIBLE
FOR ANY OUTAGE OR OTHER LOSS OF FUNCTIONALITY OR CONNECTIVITY WITH RESPECT TO THE DISCOVER PORTAL, AND NO SUCH OUTAGE OR OTHER
LOSS OF FUNCTIONALITY OR CONNECTIVITY SHALL EXCUSE ANY FAILURE BY BORROWER TO TIMELY PERFORM ALL OF ITS OBLIGATIONS TO LENDER
UNDER THIS NOTE AND THE OTHER LOAN DOCUMENTS.

 		28.	DESCRIPTIVE HEADINGS; INTERPRETATION. The descriptive headings
herein are for convenience of reference only and shall not control or affect the meaning or construction of any provision of this
Note. As used in this Note and the other Loan Documents, the terms “include,” “includes,” and “including”
are deemed to be followed by “without limitation” whether or not they are in fact followed by such words or words
of like import. Words (including the defined terms set forth in Appendix A) of one gender shall be held to include the
other gender as the context requires. Any references in this Note or in the other Loan Documents to a particular statute or regulation
shall be deemed to include all amendments thereto, rules and regulations thereunder and any successor statute, rule, or regulation,
or published clarifications or interpretations with respect thereto, in each case as in effect from time to time.

 

		29.	EFFECTIVE DATE OF OTHER LOAN DOCUMENTS. Unless otherwise
stated in the applicable Loan Document, the effective date of any Loan Document executed by a party shall be the later of (a)
the Effective Date of this Note, or (b) the date of Borrower’s execution thereof as set forth below Borrower’s signature
thereon (or, in the case of any guaranty, the date of Guarantor’s execution thereof as set forth below Guarantor’s
signature thereon). In the event that the date of Borrower’s or Guarantor’s execution of any Loan Document is not
set forth below Borrower’s or Guarantor’s signature thereon, then the effective date of such Loan Document shall be
deemed to be the Effective Date of this Note.

 

WHEREFORE, the
Parties, by their respective duly authorized representatives, have executed this Demand Promissory Note and Loan and Security Agreement
on the dates set forth below.

 

LENDER:

 

NEXTGEAR CAPITAL, INC.

 

	By:	 	 
	Name: 	David F. Horan	 
	Title:	VP, Finance	 
	 	 	 
	Date:	 	 

 

BORROWER:

 

LMP Motors.com, LLC

 

	By:	 	 
	Name: 	Samer Salahel-Din Tawfik	 
	Title:	Manager	 
	 	 	 
	Date:	 	 

 

GUARANTORS ACKNOWLEDGE AND CONSENT TO THE FOREGOING

 

	Guarantor (Sign):	 	 
	Name (Print):	Samer Salahel-Din Tawfik	 

 

    	Page 13 of 13	NextGear Demand Promissory Note and Loan and Security Agreement (v. 1.1) (129137)

     

    

 

APPENDIX A

 

		(1)	“Administrative
Charge” shall mean any expense charged by Lender to Borrower that is reasonable or necessary, in Lender’s
sole discretion, to administer or monitor Borrower’s account, to preserve any Collateral, or to collect any Liabilities
owed by Borrower.

 

		(2)	“Advance”
shall mean any discretionary loan or payment in any amount, for any purpose, made pursuant to this Note by Lender to Borrower
or on Borrower’s behalf to any third party.

 

		(3)	“Advance
Schedule” shall mean any addendum or other document executed pursuant to this Note, in each case as modified
from time to time, which indicates the applicable specific terms regarding Borrower’s Floorplan Fees, Receivable Fees, Contract
Rate of Interest, Period(s), Required Reserve Amount, Reserve Charge, required principal reduction to obtain a Curtailment of
the Maturity Date, and number of available Curtailments.

 

		(4)	“ACH”
shall mean any payment by or on behalf of Borrower to Lender made via a nationwide electronic funds transfer network processing
electronic debit and credit entries to or from Borrower’s bank accounts.

 

		(5)	“Affiliate”
shall mean, with respect to any Person, any other Person that, directly or indirectly through one or more intermediaries,
controls, is controlled by, or is under common control with, such first-named Person (which shall, for purposes of clarity, include
any parent company and any direct or indirect subsidiary of such first-named Person) and, if such first-named Person is a natural
person, also includes any member of such first-named Person’s immediate family. For purposes of this definition, the term
“control” means, with respect to any Person, the possession, directly or indirectly, of the power to direct
or cause the direction of the management and policies of such Person, whether through the ownership of voting securities, by contract
or otherwise.

 

		(6)	“Base
Rate” shall mean the greater of that variable rate of interest or that fixed rate of interest as stated in the
Finance Program Rate, Fee, and Term Schedule.

 

		(7)	“Borrower”
shall have the meaning set forth in the Preamble.

 

		(8)	“Borrower’s
Place of Business” shall mean the primary place where the Collateral and Borrower’s books and records are
kept, and where Borrower’s operations are conducted.

 

		(9)	“Business”
shall mean Borrower’s business, as it relates to the purchase and sale, lease, or rent of Inventory and/or the origination
of any Receivables.

 

		(10)	“Business
Day” shall mean any day other than a Saturday, Sunday, federal holiday or day on which banking institutions in
Carmel, Indiana are authorized or obligated by Law or executive order to be closed.

 

		(11)	“Check”
shall mean any payment by or on behalf of Borrower to Lender not made in cash, via certified funds, wire transfer, or ACH.

 

		(12)	“Collateral”
shall have the meaning set forth in Section 2(a).

 

		(13)	“Collateral
Protection Program” shall mean that certain program in which Borrower may participate in lieu of providing third
party insurance as required under this Note.

 

		(14)	“Contract
Rate” shall mean that rate of interest as stated on the applicable Advance Schedule.

 

		(15)	“Credit
Line” shall mean Borrower’s floorplan line of credit with Lender pursuant to and under this Note.

 

		(16)	“Curtailment”
shall mean that grant by Lender, in its sole discretion, to Borrower of additional time extending the Maturity Date with
respect to a Floorplan Advance or a Receivable Advance for an additional Period. The number of allowable Curtailments for a Floorplan
Advance or a Receivable Advance shall be as stated on the applicable Advance Schedule.

 

		(17)	“Discover
Portal” shall mean that certain web-based portal located at http://www.nextgearcapital.com (or any similar
successor or related portal, interface or website including any mobile or tablet application or website) owned, operated or maintained
by Lender and, subject to the Terms and Conditions, to which Borrower shall have access to from time to time as determined by
Lender.

 

		(18)	“Effective
Date” shall have the meaning set forth in the Preamble.

 

		(19)	“E-Sign
Act” shall have the meaning set forth in Section 14.

    	Appendix A - Page 1 of 4	NextGear Demand Promissory Note and Loan and Security Agreement (v. 1.1) (129137)

     

    

 

		(20)	“Event
of Default” shall have the meaning set forth in Section 6.

 

		(21)	“Extension”
shall mean that grant by Lender, in its sole discretion, to Borrower of additional time extending the Maturity Date with
respect to a Floorplan Advance beyond the last Period as stated on the applicable Advance Schedule.

 

		(22)	“Finance
Program” shall mean any finance program offered by Lender and available to Borrower for the financing of Inventory
or Receivables pursuant to an Advance under this Note.

 

		(23)	“Finance
Program Rate, Fee, and Term Schedule” shall mean that current schedule of applicable universal interest rates,
fees and term and condition amendments for each Finance Program, including Universal Program Fees; late fees; fees relating to
returned checks or ACH payments due to insufficient funds; the Base Rate; Collateral Protection Program fees; and notice of amendments
to the Terms and Conditions, published by Lender via posting such schedule of such universal rates and fees and notice of amendments
to the Terms and Conditions on the Discover Portal.

 

		(24)	“Floorplan
Advance” shall mean an Advance made pursuant to this Note relating to a Unit of Inventory to be offered for sale,
lease or rent, or leased or rented by Borrower in the Ordinary Course of Business.

 

		(25)	“Floorplan
Date” shall mean (a) for a Universal Source Purchase, the sale date, regardless of the date the Floorplan Advance
is actually requested or funded; and (b) for a Specific Source Purchase, the date the request for the Floorplan Advance is received
by Lender, regardless of the date such Floorplan Advance is actually funded.

 

		(26)	“Floorplan
Fee” shall mean the fee charged by Lender to Borrower, as set forth on the applicable Advance Schedule, for each
Unit of Lender Financed Inventory for each Period, including any Extensions thereof.

 

		(27)	“Guarantor”
shall mean any Person executing this Note as a Guarantor or any Person executing any guaranty pursuant to this Note.

 

		(28)	“Interest”
shall mean the aggregate rate of interest which accrues on all outstanding Liabilities of Borrower under or arising under
this Note or any of the other Loan Documents.

 

		(29)	“Inventory”
shall mean all Units held by Borrower for wholesale or retail sale, lease, or rent, or leased or rented by Borrower. “Inventory”
includes Lender Financed Inventory.

 

		(30)	“JAMS”
shall have the meaning set forth in Section 22(c).

 

		(31)	“JAMS
Comprehensive Rules” shall have the meaning set forth in Section 22(c).

 

		(32)	“JAMS
Streamlined Rules” shall have the meaning set forth in Section 22(c).

 

		(33)	“Law”
or “Laws” shall mean applicable common law and any applicable statute, permit, ordinance, code or other
law, rule, regulation or order enacted, adopted, promulgated or applied by any governmental authority, all as in effect from time
to time.

 

		(34)	“Lender”
shall have the meaning set forth in the Preamble.

 

		(35)	“Lender
Financed Inventory” shall mean all Units for which an Advance has been made under this Note.

 

		(36)	“Lender
Guide” shall mean those procedures and instructions for the use of Lender’s system and the Discover Portal,
in each case as modified by Lender from time to time in Lender’s sole discretion, which are available in hard copy upon
Borrower’s written request to Lender or by Borrower logging onto the Discover Portal.

 

		(37)	“Lender
Parties” shall have the meaning set forth in Section 11.

 

		(38)	“Liabilities”
shall mean any and all Advances, debts, financial obligations, Administrative Charges, Lender Universal Program Fees, Interest,
Floorplan Fees, NSF fees, late fees, charges, expenses, attorneys’ fees, costs of collection, covenants, and duties owing,
arising, due, or payable from Borrower to Lender of any kind or nature, present, or future, under any instrument, guaranty, or
other document, whether arising under this Note, any other Loan Document, or otherwise, whether directly or indirectly (including
those acquired by assignment), absolute or contingent, primary or secondary, due or to become due, now existing, or hereafter
arising, and however acquired.

 

		(39)	“Liens”
shall mean any claims, liabilities, security interests, liens, mortgages, deeds of trust, pledges, conditions, charges,
claims, options, rights of first refusal, easements, proxies, voting trusts or agreements, transfer restrictions under any contract
or agreement or encumbrances of any kind or nature whatsoever.

 

		(40)	“Loan
Documents” shall have the meaning set forth in Section 8.

    	Appendix A - Page 2 of 4	NextGear Demand Promissory Note and Loan and Security Agreement (v. 1.1) (129137)

     

    

 

		(41)	“Maturity
Date” shall mean (a) for all Liabilities concerning or relating to a Floorplan Advance or a Receivable Advance,
the earlier of the last day of the current Period or the day on which Lender declares a Maturity Event; (b) for all Liabilities
not directly related to a Floorplan Advance or a Receivable Advance, ten (10) days after the date such Liability is posted to
Borrower’s account; and (c) for One Day Loans, the date such One Day Loan is posted to Borrower’s account. Notwithstanding
the foregoing, upon the declaration of an Event of Default by Lender, the Maturity Date for all Liabilities shall be the earlier
of (i) the date on which such Event of Default is declared by Lender, or (ii) the date on which such Event of Default first occurred.
In the event the Maturity Date is not a Business Day, the Maturity Date shall be deemed to be the next Business Day.

 

		(42)	“Maturity
Event” shall mean any event, act or circumstance arising under this Note or any other Loan Document (including
any failure by Borrower to adhere to any term or provision of this Note or any other Loan Document), which causes Lender to declare
the event, act or circumstance a “Maturity Event” with respect to any Floorplan Advance or Receivable Advance.

 

		(43)	“MSO”
shall mean the manufacturer’s statement of origin or other document evidencing ownership of a Unit issued by the
manufacturer of the Unit.

 

		(44)	“Note”
shall mean this Demand Promissory Note and Loan and Security Agreement and all present and future amendments, modifications,
and addendums related thereto.

 

		(45)	“One
Day Loan” shall mean the amount of any Advance that is in excess of the market value of a Unit, as determined
by Lender in its sole discretion. The determination of whether to approve an Advance which would result in the posting of a One
Day Loan to Borrower’s account shall be in Lender’s sole discretion. One Day Loans mature on the date on which they
post to Borrower’s account.

 

		(46)	“Opt-Out
Notice” shall have the meaning set forth in Section 22(a).

 

		(47)	“Ordinary
Course of Business” shall mean the ordinary course of the Business of Borrower, consistent with past practices
(but only to the extent such past practices were in compliance with Law and in accordance with best industry practices).

 

		(48)	“Parent
Company” shall mean, with respect to Borrower or any Guarantor, the Person(s) that, directly or indirectly, have
the power to direct or cause the direction of the management and policies of Borrower or Guarantor, as the case may be, whether
through the ownership of voting securities, by contract or otherwise.

 

		(49)	“Party”
or “Parties” shall have the meaning set forth in the Preamble.

 

		(50)	“Period”
shall mean the number of days set forth on the applicable Advance Schedule, which (a) in the case of a Floorplan Advance,
shall be calculated beginning on the Floorplan Date; and (b) in the case of a Receivable Advance, shall be calculated beginning
on the Receivable Origination Date.

 

		(51)	“Person”
shall mean any individual, corporation, joint stock company, association, partnership, joint ventures, trust, estate, limited
liability company, limited liability partnership, governmental authority or other entity or organization.

 

		(52)	“Receivable”
shall mean chattel paper, including a retail installment contract or buy here pay here contract, evidencing a monetary
obligation of a buyer for the purchase of a motor vehicle from Borrower and the granting of a security interest in the vehicle
to Borrower as security for the repayment of the monetary obligation.

 

		(53)	“Receivable
Advance” shall mean an Advance made pursuant to this Note to provide Borrower with working capital secured by
a specific Receivable owned and originated by Borrower in the Ordinary Course of Business.

 

		(54)	“Receivable
Fee” shall mean the fee charged by Lender to Borrower, set forth on the applicable Advance Schedule, for each
individual Receivable Advance for each Period.

 

		(55)	“Receivable
Origination Date” shall mean, with respect to any Receivable for which a Receivable Advance is made pursuant
to this Note, the date on which such Receivable was originated by Borrower.

 

		(56)	“Representative”
shall mean, with respect to Borrower or Lender, as the case may be, the directors, officers, stockholders, employees, trustees,
agents, and representatives, including any investment banker, consultant, attorney, or accountant, of Borrower or Lender, as the
case may be.

 

		(57)	“Required
Reserve Amount” shall mean the aggregate total amount of funds required to be remitted by Borrower to Lender,
as set forth in the applicable Advance Schedule, and held in the Reserve as a condition to the grant of credit to Borrower under
this Note and the other Loan Documents.

    	Appendix A - Page 3 of 4	NextGear Demand Promissory Note and Loan and Security Agreement (v. 1.1) (129137)

     

    

 

		(58)	“Reserve”
shall mean the cash deposited with Lender by Borrower on a voluntary basis or as required as an underwriting condition
and held by Lender as additional security for Borrower’s Liabilities, and other Obligations (as defined in the applicable
reserve agreement) to the Lender Parties.

 

		(59)	“Reserve
Charge” shall mean that charge by Lender to Borrower, as set forth on the applicable Advance Schedule, assessed
for the purpose of funding any Reserve.

 

		(60)	“Setoff
Funds” shall have the meaning set forth in Section 5(l).

 

		(61)	“Specific
Source Purchase” shall mean all purchases or other requests for an Advance, made by or on behalf of Borrower
that do not constitute a Universal Source Purchase.

 

		(62)	“Terms
and Conditions” shall mean all provisions of this Note and the other Loan Documents, with the exception of terms
specifically referenced on the applicable Advance Schedule.

 

		(63)	“Title”
shall mean the certificate of title or other document evidencing ownership of a Unit issued by a duly authorized state,
commonwealth, province, or government agency.

 

		(64)	“UCC”
shall mean the Uniform Commercial Code as enacted in the State where the Collateral at issue is located.

 

		(65)	“Unit”
shall mean any manufactured item, including motor vehicles, for which there exists a Title, MSO, or other similar evidence
of ownership acceptable to Lender.

 

		(66)	“Universal
Program Fee” shall mean any published fee, as stated in the Finance Program Rate, Fee, and Term Schedule, charged
by Lender to Borrower pursuant to a Finance Program.

 

		(67)	“Universal
Source Purchase” shall mean any purchase made by or on behalf of Borrower for which (a) a request for an Advance
is made by or on behalf of Borrower; (b) from an auction or third party business that has entered into a universal funding agreement
with Lender; and (c) such request for an Advance is received by Lender within seven (7) days of Borrower’s purchase of the
vehicle that is the subject of such request.

 

    	Appendix A - Page 4 of 4	NextGear Demand Promissory Note and Loan and Security Agreement (v. 1.1) (129137)

     

    

 

ADVANCE
SCHEDULE

(Retail)

 

	Borrower:	LMP Motors.com,
    LLC	Market:	Ft. Lauderdale North
	 	 	 	 
	Account Number:	129137	Finance Program:	Core

 

This Advance
Schedule is being entered into by the undersigned borrower (“Borrower”) and NextGear Capital, Inc. (“Lender”)
pursuant to that certain Demand Promissory Note and Loan and Security Agreement by and between Borrower and Lender (the “Note”).
Capitalized terms used herein but not defined herein shall have the respective meanings as set forth in the Note (such meanings
to be equally applicable to both the singular and plural forms of the terms defined).

 

The following terms shall apply to Advances made under
the Note and this Advance Schedule:

 

The Floorplan
Fee, the Period(s), and the required principal reduction for Curtailment for each Advance made pursuant to the Note and this Advance
Schedule shall be as follows:

 

	
        Period
	Number of Days in Period	Required Principal Reduction for Curtailment of Maturity Date	Floorplan Fee
	1	60	10.00%	$135.00
	2	30	5.00%	$100.00
	3	30	N/A - No Further Curtailments Available	$100.00

 

	Contract Rate: 3%	Required Reserve Amount: $0.00	Reserve Charge: (per Advance)

 

Additional fees,
charges, and other terms applicable to Advances made pursuant to the Note and this Advance Schedule are set forth on the Finance
Program Rate, Fee, and Term Schedule, which can be found on the Discover Portal.

 

The undersigned
Borrower hereby expressly acknowledges that this Advance Schedule shall be binding on Borrower whether executed in original, “wet
ink” form; submitted by facsimile; or submitted by electronically transmitted signature (“e-signature”). The
undersigned Borrower further acknowledges that the acceptance of the terms of this Advance Schedule, if by e-signature, shall be
deemed to satisfy all requirements imposed on electronic or digital signatures under the Electronic Signatures in Global and National
Commerce Act (the “E-Sign Act”), 15 U.S.C. §7001(a) et seq., and any other similar laws relating to the validity
or enforceability of electronic or digital signatures. Each of the parties acknowledges and agrees that this Advance Schedule may
be executed by affixing to this Advance Schedule an electronic or digital signature, which shall for all purposes be deemed effective
to constitute the valid signature of the party affixing such electronic or digital signature.

WHEREFORE, the
Parties, by their respective duly authorized representatives, have executed this Advance Schedule on the dates set forth below.

 

LENDER:

 

NEXTGEAR CAPITAL, INC.

 

	By:	 	 
	Name: 	David F. Horan	 
	Title:	VP, Finance	 
	 	 	 
	Date:	 	 

 

BORROWER:

 

LMP
Motors.com, LLC

 

	By:	 	 
	Name: 	Samer Salahel-Din Tawfik 	 
	Title:	Manager	 
	 	 	 
	Date:	 	 

 

    	Page 1 of 1	NextGear Advance Schedule (Retail) (v. 1.1) (129137)

     

    

 

POWER OF ATTORNEY

(Entity/Partnership)

 

This Power of
Attorney is executed by the undersigned borrower (“Borrower”) and delivered to NextGear Capital, Inc. (“Lender”)
pursuant to that certain Demand Promissory Note and Loan and Security Agreement by and between Borrower and Lender (the “Note”).
Capitalized terms used herein but not defined herein shall have the respective meanings as set forth in the Note (such meanings
to be equally applicable to both the singular and plural forms of the terms defined). Any capitalized terms used herein, but not
otherwise defined herein or in the Note, as the case may be, shall have the meanings ascribed to them in the UCC.

 

		1.	No Person to whom this Power of Attorney is presented,
as authority for Lender to take any action described below, shall be required to inquire into or seek confirmation from Borrower
as to the authority of Lender to take any action described below, or as to the existence of or fulfillment of any condition to
this Power of Attorney, which is intended to grant to Lender unconditionally the authority to take and perform the actions described
below. Borrower irrevocably waives any right that it may have, now or at any time in the future, to commence any claim, litigation,
suit, petition, writ, or proceeding in any court of competent jurisdiction or before any arbitrator or other neutral, against
any Person acting in reliance upon or otherwise acknowledging any power or authority granted by Borrower under this Power of Attorney.
The Power of Attorney granted hereby is coupled with an interest and may not be revoked or canceled by Borrower without Lender’s
written consent or as otherwise allowed by Law. This Power of Attorney shall be deemed a “Loan Document” for all intents
and purposes as referenced in the Note.

 

		2.	With or without the occurrence of an Event of Default under
the Note, Borrower irrevocably appoints Lender (and all Representatives designated by Lender), with full power of substitution,
as Borrower’s true and lawful attorney-in-fact with full power and authority in the place and stead of Borrower and in the
name of Borrower or in its own name, from time to time in Lender’s discretion, to take any and all appropriate actions and
to execute and deliver any and all documents and instruments which may be necessary or desirable to accomplish the purposes of
the Note and each of the other Loan Documents. Without limiting the generality of the foregoing, Borrower hereby grants to Lender
the power and right, on behalf of Borrower, without further notice to or assent by Borrower, at any time, to do the following:

 

		(a)	execute such security agreements, invoices, notes,
and related documentation as may be necessary for Borrower to acquire, refinance, or sell any Collateral (including any Units
secured or to be secured by Advances made thereon);

 

		(b)	execute all documents necessary for Lender to perfect
or secure its interest in the Collateral;

 

		(c)	make, settle, and adjust claims under policies of
insurance, and endorse any check, draft, instrument, or other item of payment for the proceeds of such policies of insurance,
and make all determinations and decisions with respect to such policies of insurance;

 

		(d)	endorse the name of Borrower upon any document, instrument,
certificate, evidence of title, state registration documents, trust receipt, checks or other items of payment, or any related
or similar documents, in each case as necessary to pay for or protect the Collateral, including, without limitation, any agreements
between Borrower and any global positioning satellite company;

 

		(e)	endorse the name of Borrower upon any items of payment
or proceeds of any Collateral (including any Units constituting Collateral), and to deposit the same to the account of Lender
on account of Borrower’s Liabilities under the Note and the other Loan Documents;

 

		(f)	endorse the name of Borrower upon any chattel paper,
document, instrument, invoice, freight bill, bill of lading, or similar document or agreement relating to any Collateral;

 

		(g)	use the information recorded on or contained in any
data processing equipment, computer hardware, or software relating to any Collateral to which Borrower has access;

 

		(h)	pay or discharge any taxes, liens, security interests,
or other encumbrances levied or placed on or threatened against Borrower or any of the Collateral;

 

		(i)	communicate with any party to any contract with regard
to the assignment of the right, title, and interest of Borrower in and under such contract and/or the Collateral, and other matters
relating thereto;

 

		(j)	contact any third parties and disclose and/or receive
any Borrower information, including, without limitation, information or data in Borrower’s application for credit with Lender,
the Note, or Borrower’s Credit Line, in each case for the purpose of, among other things, preserving Lender’s security
interest in the Collateral and ensuring the satisfaction of Borrower’s Liabilities under the Note and the other Loan Documents;
and

 

		(k)	do all other things reasonably necessary to satisfy
Borrower’s Liabilities under the Note and the other Loan Documents.

 

    	Page 1 of 2	NextGear Power of Attorney (Entity/Partnership) (v. 1.1) (129137)

     

    

 

		3.	Upon the occurrence of an Event of Default under the Note,
Borrower irrevocably appoints Lender (and all Representatives designated by Lender), with full power of substitution, as Borrower’s
true and lawful attorney-in-fact with full power and authority in the place and stead of Borrower and in the name of Borrower
or in its own name, from time to time in Lender’s discretion, to do the following:

 

		(a)	demand, collect, accept receipt for, settle, compromise,
adjust, foreclose, or realize upon any of the Collateral, in each case in such manner as Lender may determine;

 

		(b)	file or prosecute any claim, litigation, suit, petition,
writ, or proceeding in any court of competent jurisdiction or before any arbitrator or other neutral, or take any other action
otherwise deemed appropriate by Lender for the purpose of collecting any and all such moneys due to Borrower, whenever payable,
and to enforce any other right in respect of the Collateral, including, without limitation, confessing to or consenting to judgments,
writs of replevin or possession, and/or any equitable relief in favor of Lender or its Affiliates;

 

		(c)	file or prosecute all proofs of claim against any
account debtor on behalf of Borrower; and

 

		(d)	notify the United States Postal Service of a change
in address for the delivery of Borrower’s mail to an address designated by Lender, and to receive Borrower’s mail
on behalf of Borrower.

 

		4.	Any provision of this Power of Attorney that is invalid
or unenforceable in any jurisdiction shall, as to that jurisdiction, be ineffective to the extent of such invalidity or unenforceability,
without rendering invalid or unenforceable the remaining provisions of this Power of Attorney or affecting the validity or enforceability
of any provision of this Power of Attorney in any other jurisdiction. Borrower hereby ratifies, to the extent permitted by Law,
all that Lender or its designated Representatives shall lawfully do or cause to be done by virtue hereof, whether such actions
were done before or after the actual execution date of this Power of Attorney. The rights and privileges set forth herein shall
be deemed supplemental and in addition to any rights and privileges to which Lender or any other Person may be entitled under
the Note or any other Loan Document. A facsimile or photocopied reproduction of any signature on this Power of Attorney shall
be deemed an original signature for all intents and purposes.

 

WHEREFORE, Borrower, by its duly authorized
representative, has executed this Power of Attorney on the date set forth below.

 

	 	BORROWER:
	 	 	 
	 	LMP Motors.com, LLC
	 	 	 
	 	By:	                                  
	 	Name: 	Samer Salahel-Din Tawfik
	 	Title:	Manager
	 	 	 
	 	Date:	 

 

	STATE OF _________________________	)
	 	) SS:
	COUNTY OF _______________________	)

 

Before me, a Notary Public
in and for said County and State, personally appeared Samer Salahel-Din Tawfik, known to me to be the Manager of
LMP Motors.com, LLC , who acknowledged the execution of the foregoing Power of Attorney,
and who, having been duly sworn, states that any representations contained therein are true.

 

Witness my hand and Notarial Seal this _____ day of_________,
20_______.

 

	Notary Signature	 	 
	 	 	 
	Notary Name (Printed)	 	 

 

	My Commission Expires: _______________	County of Residence: _____________

    	Page 2 of 2	NextGear Power of Attorney (Entity/Partnership) (v. 1.1) (129137)

     

    

 

INDIVIDUAL GUARANTY

 

THIS INDIVIDUAL
GUARANTY (this “Guaranty”) is made and entered into by the undersigned guarantor (“Guarantor”)
in favor of NextGear Capital, Inc. (“Lender”) and it Affiliates, pursuant to that certain Demand Promissory
Note and Loan and Security Agreement by and between Borrower (as defined below) and Lender (the “Note”).

 

NOW, THEREFORE,
in consideration of any loan or other financial accommodation heretofore or hereafter at any time made or granted to Borrower by
Lender, and the mutual covenants, agreements, and conditions contained herein, Guarantor agrees as follows:

 

		1.	DEFINITIONS. Capitalized terms used herein and not defined
in this Section 1 or elsewhere in this Guaranty shall have the respective meanings as set forth in the Note (such meanings to
be equally applicable to both the singular and plural forms of the terms defined). Any capitalized terms used herein, but not
otherwise defined herein or in the Note, as the case may be, shall have the meanings ascribed to them in the UCC.

 

		(a)	“Borrower”
shall mean the Person listed below, including any Affiliates of such Person, whether now in existence or hereinafter established
or acquired:

 

LMP
Motors.com, LLC

601 N State Road 7 , Fort Lauderdale, FL 33317

Telephone:
(954) 845-0352 Facsimile:

 

		(b)	“Liabilities”
shall mean any and all Advances, debts, financial obligations, fees, charges, expenses, attorneys’ fees, and costs
of collection owing, arising, due, or payable from Borrower to Lender or any of its Affiliates, of any kind or nature, present
or future, under any instrument, guaranty, or other document, whether arising under the Note or any other Loan Document, whether
directly or indirectly, absolute or contingent, primary or secondary, due or to become due, now existing or hereafter arising,
and however acquired.

 

		2.	GUARANTY AND OTHER AGREEMENTS.

 

		(a)	Guaranty
Obligations. Guarantor hereby voluntarily, unconditionally, and absolutely guarantees (i) the full and prompt payment
when due, whether by acceleration or otherwise, and at all times hereafter, of all Liabilities; and (ii) the full and prompt performance
of all the terms, covenants, conditions, and agreements related to the Liabilities. Guarantor further agrees to pay all expenses,
including attorneys’ fees and court costs (including, in each case, those relating to bankruptcy and appeals), paid or incurred
by Lender or its Affiliates in endeavoring to collect on any Liabilities, and in enforcing this Guaranty or in defending any claims
by Borrower or any Guarantor related to any of the Liabilities, plus interest on such amounts at the lesser of (A) thirteen percent
(13%) per annum, compounded daily, or (B) the maximum rate permitted by Law. Interest on such amounts paid or incurred by Lender
shall be computed from the date of payment made by Lender and shall be payable on demand.

 

		(b)	General
Nature of Guaranty. Guarantor acknowledges that this Guaranty is a guaranty of payment and not of collection, and that
his or her obligations hereunder shall be absolute, unconditional, and unaffected by: (i) the waiver of the performance or observance
by Borrower or any Guarantor of any agreement, covenant, term, or condition to be performed or observed by Borrower or any such
Guarantor, as the case may be; (ii) the extension of time for the payment of any sums owing or payable with respect to any of
the Liabilities or the time for performance of any other obligation arising out of or relating to any of the Liabilities; (iii)
the modification, alteration, or amendment of any obligation arising out of or relating to any of the Liabilities; (iv) any failure,
delay, or omission by Lender to enforce, assert, or exercise any right, power, or remedy in connection with any of the Liabilities;
(v) the genuineness, validity, or enforceability of any of the Liabilities or any document related thereto; (vi) the existence,
value, or condition of, or failure of Lender or any of its Affiliates to perfect its lien against, any security pledged in connection
with the Liabilities; (vii) the release of any security pledged in connection with the Liabilities, or the release, modification,
waiver, or failure to enforce any other guaranty, pledge, or security agreement; (viii) the voluntary or involuntary liquidation,
dissolution, sale of all or substantially all of the property, marshalling of assets and liabilities, receivership, insolvency,
bankruptcy, assignment for the benefit of creditors, reorganization, arrangement, composition, or readjustment or other similar
application or proceeding affecting Borrower or any assets of Borrower; (ix) the release or discharge of Borrower or any other
Guarantor from the performance or observance of any agreements, covenants, terms, or conditions in connection with any of the
Liabilities, by operation of Law or otherwise; (x) the default of Borrower in any obligations to Guarantor or any torts committed
by Borrower against Guarantor, even if Lender is alleged to be complicit or to have committed a direct tort against Guarantor;
or (xi) any change in Borrower’s ownership, entity type, legal structure, or state of organization or formation, or in Guarantor’s
relationship to Borrower or any other Guarantor.

 

		(c)	Continuing
and Unlimited Nature of Guaranty. The obligations of Guarantor under this Guaranty shall be continuing and shall cover
any and all Liabilities existing as of the effective date of this Guaranty and any and all Liabilities thereafter incurred by
Borrwer, including any and all Liabilities existing at the time of any termination of this Guaranty. This Guaranty shall be unlimited
in amount and shall continue in effect until this Guaranty is terminated pursuant to Section 3.

    	Page 1 of 6	NextGear Individual Guaranty (v. 1.1) (129137)

     

    

 

		(d)	Waivers
by Guarantor. Guarantor hereby expressly waives: (i) notice of the acceptance by Lender of this Guaranty; (ii) notice
of the existence, creation, or non-payment of all or any of the Liabilities; (iii) presentment, demand, notice of dishonor, protest,
and all other notices whatsoever; (iv) diligence in collection or protection of, or realization upon any of the Liabilities, any
obligation under this Guaranty, or any security for or guaranty of any of the foregoing; (v) impairment of any collateral securing
the Liabilities; (vi) notice of any change in Borrower’s credit terms or limits with Lender, including any temporary or
permnant increases in Borrower’s Credit Line (and Guarantor prospectively consents to any such change); (vii) any non-contractual
duties of Lender to Borrower or any Guarantor; and (viii) the protections of any Laws intended to protect consumers or regulate
consumer loans, as the Liabilities are commercial in nature.

 

		(e)	Authorization.
Guarantor authorizes Lender to obtain and share credit information relating to Guarantor from and with credit bureaus,
financial institutions, trade creditors, affiliates, and others and to conduct such other credit investigations that Lender in
its sole discretion deems necessary. Guarantor expressly authorizes Lender to obtain his or her consumer credit report from time
to time at Lender’s discretion, and expressly ratifies any such consumer credit report that may have been obtained by or
on behalf of Lender prior to the effective date of this Guaranty. Guarantor also authorizes Lender to contact any third parties
to disclose information for the purpose of, among other things, obtaining intercreditor agreements and perfecting Lender’s
security interest. Further, Guarantor authorizes Lender to periodically obtain additional credit information on Guarantor through
any available medium.

 

		(f)	Communication. Guarantor hereby expressly authorizes
Lender and its Affiliates to communicate with Guarantor via facsimile transmissions, email messages, telephonic transmissions,
both to a residential telephone line and/or cell phone, including text messaging, using an automatic telephone dialing system
or an artificial or prerecorded voice message, and/or any other forms of communication, for any purpose, including general business
matters, account information, marketing materials, collection, and/or any other communication needs. Guarantor acknowledges and
agrees that such express permission shall extend to any and all of the contact information that Guarantor has provided herein,
including any physical and email addresses, phone numbers, fax numbers, etc., and to such other addresses, phone numbers, email
addresses, online chat, social media platforms, etc. that Guarantor may provide to Lender or any of its Affiliates or that Lender
or any of its Affiliates may obtain from any third party at a later date.

 

		(g)	Enforcement. In no event shall Lender have
any obligation to proceed against Borrower, any other Guarantor or any other Person, or any security pledged in connection with
the Liabilities, before seeking satisfaction from Guarantor. Lender may, at its option, proceed, prior or subsequent to, or simultaneously
with, the enforcement of its rights hereunder, to exercise any right or remedy it may have against Borrower, any other Guarantor
or other Person, or any security pledged in connection with the Liabilities. This Guaranty is in addition to, and not in substitution
for, any other guaranty or other securites which Lender may now or hereafter hold.

 

		(h)	Reinstatement. Guarantor agrees that, if, at
any time, all or any part of any payment theretofore applied by Lender to any of the Liabilities is or must be rescinded or returned
by Lender for any reason whatsoever (including as a result of any insolvency, bankruptcy, or reorganization of Borrower or any
of his or her Affiliates), such Liabilities shall, for purposes of this Guaranty, to the extent that such payment is or must be
rescinded or returned, be deemed to have continued in existence, notwithstanding such application by Lender, and this Guaranty
shall continue to be effective or reinstated, as applicable, as to all such Liabilities, all as though such application by Lender
had not been made.

 

		(i)	Financial Statements. Upon Lender’s request,
Guarantor will provide Lender with Guarantor’s audited financial statements, as certified by Guarantor’s independent
certified public accountant, and such other financial statements, information, and other materials as Lender may request from
time to time.

 

		(j)	Application of Payments; Subrogation. Any amounts
received by Lender from any source on account of the Liabilities may be applied by it toward the payment of such of the Liabilities,
and in such order of application, as Lender may from time to time elect. Notwithstanding any payments made by or for the account
of Guarantor, Guarantor shall not be subrogated to any rights of Lender.

 

		3.	TERMINATION.

 

		(a)	Payment
of Liabilities and Termination of Credit Line. This Guaranty shall be terminated upon the occurrence of all of the
following: (i) the payment by Borrower or any Guarantor, either jointly or severally, of all Liabilities outstanding; (ii) the
payment of all obligations by Guarantor which may be due to Lender under this Guaranty; and (iii) the filing of a UCC termination
statement as to Borrower by or on behalf of Lender, or other written verification from Lender that Borrower’s Credit Line
is terminated.

 

		(b)	Revocation
of Guaranty. This Guaranty may be revoked by Guarantor upon written notice to Lender by certified mail, return receipt
requested, to the address provided in Section 5(d). This Guaranty shall be deemed terminated upon the occurrence of a revocation
in the manner provided in this Section 3(b). However, such revocation and termination shall in no way terminate or otherwise affect:
(i) any obligations of Guarantor existing on or prior to the effective date of such revocation or termination; or (ii) any obligations
of Guarantor arising after the effective date of such revocation or termination with respect to any Liabilities incurred by Borrower
on or before the effective date of such revocation or termination.

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		4.	EVENTS OF DEFAULT. The occurrence of any of the following
events shall be considered an event of default under this Guaranty (each, an “Event of Default”):

 

		(a)	Guarantor fails to make full payment of any amount
owed hereunder after notice from Lender;

 

		(b)	Guarantor fails to perform or observe any agreement,
covenant, term, or condition contained in this Guaranty (other than any monetary obligation described in clause (a) above), and
such failure continues for ten (10) days after notice from Lender;

 

		(c)	Guarantor makes an assignment for the benefit of creditors
or fails to pay his or her debts as the same become due and payable;

 

		(d)	Guarantor petitions or applies to any tribunal for
the appointment of a trustee or receiver of the business, estate, or assets or of any substantial portion of his or her business,
estate, or assets, or commences any proceedings relating to Guarantor under any bankruptcy, reorganization, insolvency, readjustment
of debt, dissolution, or liquidation Law of any jurisdiction, whether now or hereafter in effect (each, a “Bankruptcy
Filing”);

 

		(e)	any Bankruptcy Filing is filed or any related proceedings
commenced against Guarantor, and Guarantor by any act indicates his or her approval thereof, consent thereto, or acquiescence
therein, or any order is entered appointing any trustee or receiver, declaring Guarantor bankrupt or insolvent, or approving or
accepting the Bankruptcy Filing in any such proceedings;

 

		(f)	any suit or proceeding is filed or any related proceedings
commenced against Guarantor or any of his or her Affiliates, which, if adversely determined, could substantially impair the ability
of Guarantor or Borrower to perform any of their respective obligations with respect to this Guaranty or any of the Liabilities,
in each case as determined by Lender in its sole and absolute discretion; or

 

		(g)	there is any Event of Default by Guarantor under the
Note.

 

If an Event of Default under this
Guaranty shall have occurred, in addition to pursuing any remedies which may be available to Lender with respect to the Liabilities,
Lender, at its option, may take whatever action at law or in equity Lender may deem necessary, regardless of whether Lender shall
have exercised any of its rights or remedies with respect to any of the Liabilities, and Lender may demand, at its option, that
Guarantor pay forthwith the full amount which would be due and payable hereunder as if all Liabilities were then due and payable.

 

5. GENERAL.

 

		(a)	Assignment;
Successors and Assigns. This Guaranty may be assigned by Lender without notice to Guarantor, but Guarantor may not
assign this Guaranty without the prior written consent of Lender. The guaranty and the other agreements contained herein shall
bind the legal representatives, heirs, successors, and assigns of Guarantor, and shall inure to the benefit of Lender and its
successors and assigns. Each reference to Guarantor herein shall be deemed to include the legal representatives, heirs, and agents
of Guarantor, and their respective successors and assigns.

 

		(b)	Amendment;
Merger. This Guaranty is intended by the Parties to be an amendment to and restatement of any prior Individual Guaranty
or other similar document or instrument between Lender (or any predecessor of Lender, including Dealer Services Corporation and/or
Manheim Automotive Financial Services, Inc.) and Guarantor, or otherwise executed by Guarantor for the benefit Lender (or any
predecessor of Lender, including Dealer Services Corporation and/or Manheim Automotive Financial Services, Inc.). This Guaranty
may be modified or amended only upon the written consent of Lender and Guarantor. The Parties acknowledge that Guarantor may have
also acknowledged and cosented to the terms and conditions set forth in the Note, and, in such event, this Guaranty shall be deemed
supplemental and in addition to the terms and conditions of the Note to which Guarantor has acknowledged and consented. In the
event of any conflict between a term or provision set forth in this Guaranty, and a term or provision set forth in the Note, the
term or provision set forth in this Guaranty shall, as between Lender and Guarantor, be deemed controlling.

 

		(c)	Execution.
Guarantor may execute this Guaranty only by original signature of Guarantor, unless otherwise authorized by Lender.
Lender may, in its sole discretion, permit Guarantor to execute this Guaranty by affixing to this Guaranty an electronic or digital
signature. Guarantor acknowledges and agrees that any electronic or digital signature of Guarantor shall for all purposes be deemed
effective and constitute the valid signature of Guarantor, and shall be deemed to satisfy all requirements imposed on electronic
or digital signatures under the UCC, the Electronic Signatures in Global and National Commerce Act (the “E-Sign Act”),
and any other similar Laws relating to the validity or enforceability of electronic or digital signatures (including, without
limitation, any enactment of the Uniform Electronic Transactions Act (UETA)), and such electronic or digital signature shall not
be denied legal effect, validity, or enforceability solely because it is in electronic or digital form. A facsimile or photocopied
reproduction of the signatures on this Guaranty shall be deemed original signatures for all intents and purposes.

    	Page 3 of 6	NextGear Individual Guaranty (v. 1.1) (129137)

     

    

 

		(d)	Notices.
All notices, demands and requests required or permitted to be given under this Guaranty shall be (i) in writing, (ii)
delivered by personal delivery or sent by commercial delivery service or certified mail, return receipt requested (except with
respect to notices pursuant to Section 3(b), which notices may only be given by certified mail, return receipt requested), (iii)
deemed to have been given on the date of personal delivery or the date set forth in the records of the delivery service or on
the return receipt, and (iv) addressed as follows (or, in the case of Lender, to any other subsequent address that Lender may
provide to Guarantor (through written notice or otherwise) for purposes of directing future notices, demands or requests):

 

		If to Lender:	NextGear Capital, Inc., 11799 North College Avenue, Carmel,
IN 46032

Telephone: (317) 571-3721

 

with a copy to:

 

NextGear Capital, Inc., 11799 North College Avenue, Carmel,
IN 46032

Telephone: (317) 571-3721

Attention: Legal Department

 

		If to Guarantor:	Samer Salahel-Din Tawfik

300 S Pointe Dr , Miami Beach, FL 33139

Cell Telephone:
(917) 642-1669

Home Telephone:

 

		(e)	No
Waiver. No failure or delay by Lender in exercising any right, power, or privilege or the granting of an exception
by Lender with respect to any term or condition of this Guaranty will operate as a waiver of such right, power, or privilege,
and no single or partial exercise of any such right, power, or privilege will preclude any other or further exercise of such right,
power, or privilege, or the exercise of any other right, power, or privilege by Lender.

 

		(f)	Severability.
Any provision of this Guaranty that is invalid or unenforceable in any jurisdiction shall, as to that jurisdiction,
be ineffective to the extent of such invalidity or unenforceability, without rendering invalid or unenforceable the remaining
provisions of this Guaranty or affecting the validity or enforceability of any provision of this Guaranty in any other jurisdiction.

 

		(g)	Governing
Law. Except with respect to the interpretation or enforcement of the arbitration and other provisions set forth in
Section 5(i) (which shall be governed by the Federal Arbitration Act), the validity, enforceability, and interpretation of this
Guaranty shall be governed by the internal Laws of the State of Indiana, without regard to conflicts of Laws provisions thereof.

 

		(h)	Jurisdiction
and Venue. As evidenced by Guarantor’s signature below, subject to the provisions in Section 5(i), Guarantor
submits to the personal jurisdiction and venue of the state and federal courts of Marion County and Hamilton County, Indiana,
and agrees that any and all claims or disputes pertaining to this Guaranty, or to any matter arising out of or related to this
Guaranty, which are initiated by Guarantor against Lender, to the extent, if any, that such claims or disputes are not subject
to the provisions noted in Section 5(i), shall be brought in the state or federal courts of Marion County or Hamilton County,
Indiana. Further, Guarantor expressly consents to the jurisdiction and venue of the state and federal courts of Marion County
and Hamilton County, Indiana, as to any legal or equitable action that may be brought in such court by Lender, and waives any
objection based upon lack of personal jurisdiction, improper venue or forum non conveniens with respect to any such action. Guarantor
acknowledges and agrees that Lender reserves the right to initiate and prosecute any action against Guarantor in any court of
competent jurisdiction, and Guarantor consents to such forum as Lender may elect.

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		(i)	Mandatory Binding Arbitration; Waiver of Class
Action Rights.

 

		(i)	In the unlikely event that Lender is unable to resolve
a dispute or claim that Guarantor may have, Guarantor agrees to arbitrate any such dispute or claim in accordance with this Section
5(i). This agreement to arbitrate is intended to be broadly interpreted, and includes (i) all disputes, claims and counterclaims
arising out of or relating to this Guaranty or any aspect of Guarantor’s past, present or future relationship with Lender,
whether based in contract, tort, statute, fraud, misrepresentation or any other legal theory; (ii) all disputes, claims and counterclaims
that may have arisen before this Guaranty or any prior contract or agreement between Guarantor and Lender; and (iii) any disputes,
claims and counterclaims that may arise after the termination of this Guaranty. Additionally, Guarantor acknowledges that Lender
may (BUT SHALL IN NO EVENT BE REQUIRED TO) arbitrate any dispute or claim that it may have against Guarantor, with any such arbitration
being governed by the provisions of this Section 5(i). BY AGREEING TO ARBITRATION, GUARANTOR UNDERSTANDS AND AGREES THAT IT IS
WAIVING ITS RIGHTS TO MAINTAIN OTHER AVAILABLE RESOLUTION PROCESSES, SUCH AS COURT ACTION (INCLUDING A JURY TRIAL) OR ADMINISTRATIVE
PROCEEDING, IN ORDER TO SETTLE OR RESOLVE DISPUTES OR ANY CLAIMS AGAINST LENDER. ARBITRATION IS DIFFERENT THAN A COURT ACTION,
AND THE RULES IN ARBITRATION ARE DIFFERENT THAN THE RULES THAT APPLY IN COURT. THERE IS NO JUDGE OR JURY IN ARBITRATION, AND REVIEW
IS LIMITED, BUT AN ARBITRATOR CAN AWARD THE SAME DAMAGES AND RELIEF AS A COURT, SUBJECT TO THE AGREED TERMS AND LIMITATIONS IN
THIS NOTE. Guarantor, at his or her election, may opt-out of the arbitration provisions set forth in Sections 5(i)(i), 5(i)(iii)
and 5(i)(iv) by providing written notice of his or her election to opt-out no later than thirty (30) days after Guarantor’s
execution of this Guaranty, which notice shall be provided to Lender pursuant to Section 5(d) (“Opt-Out Notice”),
provided that such Opt-Out Notice shall become effective only upon Guarantor’s receipt of written confirmation from
Lender that such Opt-Out Notice has been received by Lender within the required time period. Guarantor acknowledges and agrees
that, irrespective of any Opt-Out Notice or any written confirmation thereof, Guarantor shall in all events be subject to the
provisions of Section 5(i)(ii).

 

		(ii)	ANY ARBITRATION OR OTHER LEGAL PROCEEDING OF ANY TYPE
OR NATURE UNDER OR RELATING TO THIS GUARANTY OR TO ANY ASPECT OF GUARANTOR’S PAST, PRESENT OR FUTURE RELATIONSHIP OR ACTIVITIES
WITH OR INVOLVING LENDER (INCLUDING ANY MARKETING ACTIVITIES OR SOLICITATIONS BY OR ON BEHALF OF LENDER), WILL TAKE PLACE ON AN
INDIVIDUAL BASIS. CLASS ARBITRATIONS AND CLASS ACTIONS OF ANY KIND (WHETHER PURSUED THROUGH ARBITRATION OR THROUGH THE COURTS)
ARE NOT PERMITTED. GUARANTOR AGREES THAT IT MAY BRING CLAIMS AGAINST LENDER ONLY IN HIS OR HER INDIVIDUAL CAPACITY, AND NOT AS
A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS OR REPRESENTATIVE PROCEEDING. GUARANTOR AGREES THAT, BY ENTERING INTO THIS
GUARANTY, GUARANTOR IS WAIVING HIS OR HER RIGHT TO PARTICIPATE IN ANY CLASS ACTION OR OTHER SIMILAR REPRESENTATIVE PROCEEDING.
UNLESS CONSENTED TO IN WRITING BY LENDER, THE ARBITRATOR MAY NOT CONSOLIDATE MORE THAN ONE PERSON’S CLAIMS, AND MAY NOT
OTHERWISE PRESIDE OVER ANY FORM OF A REPRESENTATIVE OR CLASS PROCEEDING. GUARANTOR ACKNOWLEDGES AND AGREES THAT THE SIZE OF BORROWER’S
CREDIT LINE, THE INTEREST RATE TO WHICH ADVANCES ARE SUBJECT AND CERTAIN FEES CHARGED TO BORROWER, AS WELL AS THE SIZE AND DATES
OF SPECIFIC ADVANCES AND WHAT (IF ANY) GUARANTIES ARE REQUIRED, ARE UNIQUE TO AND NEGOTIATED BY BORROWER (AND, IF APPLICABLE,
GUARANTOR), AND THAT SUCH FACTORS WILL AND DO VARY AMONG BORROWERS AND OTHER GUARANTORS.

 

		(iii)	Any dispute
                                         or claim subject to arbitration pursuant to this Section 5(i) shall be submitted to binding
                                         arbitration administered by the Judicial Arbitration and Mediation Service (“JAMS”)
                                         pursuant to its Comprehensive Arbitration Rules and Procedures as then in effect (the
                                         “JAMS Comprehensive Rules”); provided, however,
                                         that any dispute or claim that is subject to arbitration pursuant to this Section 5(i)
                                         and that involves disputes or claims where the aggregate amount reasonably in dispute
                                         or controversy is less than $100,000, shall be submitted to binding arbitration administered
                                         by JAMS pursuant to its Streamlined Arbitration Rules and Procedures as in effect as
                                         of the effective date of this Guaranty (the “JAMS Streamlined Rules”).
                                         The disputes and claims subject to arbitration pursuant to this Section 5(i) will be
                                         resolved by a single arbitrator selected pursuant to the JAMS Comprehensive Rules or
                                         the JAMS Streamlined Rules, as the case may be. The arbitrator shall be bound by and
                                         shall strictly enforce the terms of this Guaranty and may not limit, expand or otherwise
                                         modify any term or provision of this Guaranty or any other contract or document between
                                         Guarantor and Lender. The arbitrator shall not have the power to award to Guarantor any
                                         damages that are excluded or that have been waived by Guarantor under this Guaranty,
                                         and Guarantor irrevocably waives any claim that it may have thereto. The arbitrator shall
                                         not have the power to order pre-hearing discovery of documents or the taking of depositions.
                                         The arbitrator shall render a written decision within six (6) months after being selected.
                                         Any arbitration will be held in Indianapolis, Indiana (or its greater metro area). Each
                                         Party will bear its own expenses in the arbitration and will share equally the costs
                                         of the arbitration; provided, however, that the arbitrator may, in his or her
                                         discretion, award costs and fees to the prevailing Party. The result of any arbitration
                                         shall be final and binding upon the Parties. Judgment upon any arbitration award may
                                         be entered in any court having jurisdiction over the award or over the applicable party
                                         or its assets.

 

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		(iv)	This Guaranty evidences transactions in interstate
commerce, and thus the Federal Arbitration Act governs the interpretation and enforcement of this Section 5(i), notwithstanding
the provisions of Section 5(g).

 

		(j)	WAIVER
OF JURY TRIAL. AFTER CONSULTING OR HAVING HAD THE OPPORTUNITY TO CONSULT WITH COUNSEL, LENDER AND GUARANTOR KNOWINGLY,
VOLUNTARILY, AND INTENTIONALLY WAIVE ANY RIGHT EITHER PARTY MAY HAVE TO A TRIAL BY JURY IN ANY LITIGATION BASED UPON OR ARISING
OUT OF THIS GUARANTY, OR ANY OF THE TRANSACTIONS CONTEMPLATED BY THIS GUARANTY, OR ANY COURSE OF CONDUCT, STATEMENT, WHETHER ORAL
OR WRITTEN, OR ACTIONS OF LENDER OR GUARANTOR. NEITHER LENDER NOR GUARANTOR SHALL SEEK TO CONSOLIDATE, BY COUNTERCLAIM OR OTHERWISE,
ANY ACTION IN WHICH A JURY TRIAL HAS BEEN WAIVED WITH ANY OTHER ACTION IN WHICH A JURY TRIAL CANNOT BE OR HAS NOT BEEN WAIVED.
THESE PROVISIONS SHALL NOT HAVE BEEN DEEMED TO HAVE BEEN MODIFIED IN ANY RESPECT OR RELINQUISHED BY LENDER OR GUARANTOR EXCEPT
BY WRITTEN INSTRUMENT EXECUTED BY BOTH LENDER AND GUARANTOR.

 

		(k)	LIMITATION
OF LIABILITY. IN NO EVENT SHALL ANY LENDER PARTY BE LIABLE FOR ANY SPECIAL, INDIRECT, EXEMPLARY, PUNITIVE, INCIDENTAL,
MULTIPLE OR CONSEQUENTIAL DAMAGES (INCLUDING ANY DAMAGES RESULTING FROM LOSS OF USE, LOSS OF PROFITS, LOSS OF BUSINESS OR OTHER
ECONOMIC LOSS) ARISING OUT OF OR IN CONNECTION WITH THIS GUARANTY, EVEN IF SUCH LENDER PARTY HAS BEEN ADVISED OF THE POSSIBILITY
OF SUCH DAMAGES. FURTHER, IN NO EVENT SHALL THE LENDER PARTIES, COLLECTIVELY, BE LIABLE FOR ANY DAMAGES UNDER THIS GUARANTY OR
ANY OTHER LOAN DOCUMENT THAT EXCEED, IN THE AGGREGATE, AN AMOUNT EQUAL TO THE SUM OF THE INTEREST AND FLOORPLAN FEES ACTUALLY
PAID TO LENDER BY BORROWER UNDER THE NOTE DURING THE TWELVE (12) MONTH PERIOD IMMEDIATELY PRECEDING THE EVENT GIVING RISE TO THE
CLAIM AT ISSUE (OR, IN THE CASE OF MULTIPLE EVENTS, THE FIRST SUCH EVENT GIVING RISE TO THE CLAIM AT ISSUE).

 

		(l)	Descriptive Headings;
                                                                                                                                                          Intepretation. The descriptive headings herein are for convenience of reference only and shall not control or
                                                                                                                                                          affect the meaning or construction of any provision of this Guaranty. As used in this Guaranty, the terms
                                                                                                                                                          “include,” “includes,” and “including” are deemed to be followed by “without
                                                                                                                                                          limitation” whether or not they are in fact followed by such words or words of like import.

 

WHEREFORE, Guarantor has executed this Guaranty on the
date set forth below.

 

	 	GUARANTOR:
	 	 	 
	 	By:	                      
	 	Name:       	Samer Salahel-Din Tawfik
	 	 	 
	 	Date:	 

 

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ACH
AUTHORIZATION AND REQUEST

(Debit or Credit)

 

The undersigned
borrower (“Borrower”) has incurred, or may in the future incur, certain Liabilities to NextGear Capital, Inc.
(“Lender”) under that certain Demand Promissory Note and Loan and Security Agreement by and between Borrower
and Lender (the “Note”). Capitalized terms used herein but not defined herein shall have the respective meanings as
set forth in the Note (such meanings to be equally applicable to both the singular and plural forms of the terms defined).

 

Borrower hereby
authorizes and requests Lender, as Lender under the Note, to initiate electronic debit entries (each, an “Authorized Debit”)
to the bank account specified below (the “Designated Account”) in payment of amounts and other Liabilities
owed by Borrower under the Note and the other Loan Documents. Lender may initiate an Authorized Debit, (i) in the amount requested
by Borrower in a written or oral communication with Lender (an “Elective Payment”); or (ii) in the amount due
and owing by Borrower under the Note and the other Loan Documents, including all interest, fees, and other Liabilities with respect
thereto (a “Required Payment”). Additionally, Borrower authorizes and requests Lender, as Lender under the Note,
to initiate electronic credit entries (each, an “Authorized Credit”) to the Designated Account. Borrower further
acknowledges and agrees that:

 

		●	Lender may initiate an Elective Payment from the Designated Account at any time on or after the date such request is made by
Borrower.

 

		●	Lender may initiate a Required Payment from the Designated Account on or
after the first Business Day following a Maturity Date for any Liability, in each case in such amount as is due and owing with
respect to such Liability on the date that such Required Payment is initiated by Lender (including any applicable fees and other
amounts incurred by Borrower or accrued on such Liability after the Maturity Date).

 

		●	Borrower must maintain sufficient funds in the Designated Account to satisfy
its payment obligations to Lender under this ACH Authorization and Request. If the Designated Account holds insufficient funds
to cover an Authorized Debit, Borrower may be assessed fees or other charges by both the financial institution at which the Designated
Account is held (the “Depository Bank”) and by Lender, just as if Borrower had written a check to Lender that
was returned for insufficient funds.

 

		●	Borrower is solely responsible for any overdraft charges or other fees that
the Depository Bank may assess in connection with any transfers, whether debit or credit, initiated pursuant to this ACH Authorization
and Request (including any Authorized Debit or Authorized Credit).

 

		●	This ACH Authorization and Request shall be deemed a “Loan Document”
for all intents and purposes under the Note, and Lender shall be entitled to avail itself of any limitations of liability and other
similar protections or relief afforded Lender under the Note, and these provisions and protections shall apply to any Authorized
Debit, Authorized Credit, or other transaction initiated by Lender hereunder. Additionally, Lender shall have no liability and
shall not be responsible for any damages arising from or relating to any checks or other payments dishonored after the available
balance in the Designated Account is reduced by any Authorized Debit or other transaction initiated by Lender hereunder.

 

		●	Borrower will remain liable and responsible for all amounts owed under the
Note and the other Loan Documents which remain unpaid as a result of an unsuccessful attempt to debit funds from the Designated
Account pursuant to this ACH Authorization and Request.

 

		●	This ACH Authorization and Request does not create a fiduciary relationship between Lender and
Borrower.

 

		●	Borrower is bound by the Operating Rules of the National Automated Clearing
House Association (NACHA), as in effect from time to time with regard to each Authorized Debit, Authorized Credit, and other transaction
initiated by Lender hereunder.

 

		●	Lender may provide via email to the email account designated below (“Designated
Email”) confirmation of each Authorized Debit, Authorized Credit, and other transaction processed hereunder (each a “Confirmation
Email”).

 

		●	Lender’s business records reflecting the following shall be deemed
conclusive proof of Borrower’s authorization and request for an Authorized Debit: (1) a Confirmation Email of an Authorized
Debit having been sent by Lender to the Designated Email or otherwise communicated to Borrower; and (2) no written objection having
been confirmed received by Lender from Borrower within five (5) Business Days from the date the Confirmation Email or other communication
was sent to Borrower.

 

		●	Borrower shall maintain the active status of the Designated Email (or provide
immediate written notification to Lender of any change in the Designated Email) at all times.

 

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		●	Borrower is the owner (or joint-owner) of the Designated Account, or, if
the Designated Account is a corporate or other company account, the undersigned representative of Borrower is a duly authorized
corporate or company representative of Borrower with permission to make and authorize the Authorized Debits, Authorized Credits
and other transactions authorized by Borrower hereunder, in each case in the manner described herein. In the event that any of
Borrower’s Designated Account information changes, or in the event that Borrower closes the Designated Account,
Borrower will promptly notify Lender at least ten (10) Business Days prior to such change or closure so that Lender can process
Borrower’s updated Designated Account information.

 

Lender may,
if necessary, initiate adjustments at any time and without advance notice to Borrower for any debit or credit entry made in error
to the Designated Account pursuant to this ACH Authorization and Request. This ACH Authorization and Request will remain in effect
until Lender has received, and has had sufficient time (but not less than ten (10) Business Days) to process, a written notice
of termination delivered by Borrower to Lender in accordance with the provisions of Section 15 of the Note. Lender may terminate
this ACH Authorization and Request at any time by providing written notice to Borrower. A facsimile or photocopied reproduction
of any signature on this ACH Authorization and Request shall be deemed an original signature for all intents and purposes.

 

The undersigned
Borrower hereby expressly acknowledges that this ACH Authorization and Request shall be binding on Borrower whether executed in
original, “wet ink” form; submitted by facsimile; or submitted by electronically transmitted signature (“e-signature”).
The undersigned Borrower further acknowledges that the acceptance of the terms of this ACH Authorization and Request, if by e-signature,
shall be deemed to satisfy all requirements imposed on electronic or digital signatures under the Electronic Signatures in Global
and National Commerce Act (the “E-Sign Act”), 15 U.S.C. §7001(a) et seq., and any other similar laws relating
to the validity or enforceability of electronic or digital signatures. Each of the parties acknowledges and agrees that this ACH
Authorization and Request may be executed by affixing to this ACH Authorization and Request an electronic or digital signature,
which shall for all purposes be deemed effective to constitute the valid signature of the party affixing such electronic or digital
signature.

 

	Designated Bank Account and Designated Email

	Bank Name: Chase	 
	Account Number: 700860963 

Signer 1 on Account: Samer Salahel-Din Tawfik	Routing Number: 021000021
	Designated
    Email (for payment confirmation): sam@lmpmotors.com

 

WHEREFORE, Borrower, by its duly authorized representative, has
executed this ACH Authorization and Request on the date set forth below.

 

	BORROWER:	 
	 	 	 
	LMP Motors.com, LLC	 
	 	 	 
	By:	 	 
	Name:  	Samer Salahel-Din Tawfik	 
	Title: 	Manager	 
	 	 	 
	Date:	 	 

 

    	Page 2 of 2	NextGear ACH Authorization and Request (Debit or Credit) (v. 1.1) (129137)

     

    

 

 

 

NextGear
Capital is proud to offer our customers a competitive Collateral Protection Program

 

THE NEXTGEAR CAPITAL COLLATERAL PROTECTION
PROGRAM COVERS 

PHYSICAL DAMAGE TO NEXTGEAR CAPITAL FINANCED INVENTORY!*

 

	
        Physical Damage Resulting From:

         

        ●      Flood,
        earthquake, windstorm, hail, theft, vandalism, fire, and lightning

        ●      Collision
        (including upset or overturn)
	Check
    the NextGear Capital 

    website for updates to 

    program and policy info 

    nextgearcapital.com

 

Principal Exclusions:**

	
        ●     Vehicles
        under a rental or lease agreement

        ●     Salvage/Rebuilt
        Vehicles

        ●     Employee
        dishonesty

        ●     Property
        that has been rented, leased or sold to a conditional buyer

        ●     Bodily
        injury or loss or damage to vehicles or property of others

        ●     Acid
        rain, rust, other corrosive action or pollutants
	 	
        ●      Financial
        loss resulting from delay or depreciation

        ●      War
        or military action

        ●      Nuclear
        events

        ●      Government
        seizure

        ●      Prospective
        profit

        ●      False
        pretense

        ●      Mechanical
        wear and tear

 

*Certain limitations apply. Please contact your NextGear Capital
Collateral Protection Program representative for complete details, terms and conditions. **This list is not all-inclusive. Please
see the NextGear Capital Collateral Protection Program rules and guidelines for a complete list of exclusions.

 

	
        AFFORDABLE PROGRAM 

        No
        charges are payable until an extension payment is made or the vehicle is paid off. You pay only for what you use ... Just
        pennies a day.

         

        In the absence of participating in the NextGear
        Capital Collateral Protection Program, you are required to submit evidence of physical damage insurance in a form
        satisfactory to NextGear Capital in its sole discretion, at the time you submit your contract (Salvage Lines of Credit
        Excluded) which evidences the following minimum requirements:

        

        ●     Physical
        damage insurance covering a minimum of 66% of the borrowing limit on your NextGear Capital line of credit

        ●     NextGear
Capital (11799 North College Avenue Carmel, IN 46032) must be listed as Loss payee.

        ●     Such
insurance must be maintained for the duration of your contract.

         

        You
        may fax the Certificate of Insurance to 866.924.4525 or email at ngc.cp@coxautoinc.com.
        Please visit nextgearcapital.com for further details.
	 	Rates	 
	 	Daily @ 0.0145%	$0.15* 
	 	AK,
    CT, DE, ID, ME, MT, ND, NH, PR, SD, VT, WA, UT, WV	 
	 		 
	 	Daily @ 0.0155%	$0.16*
	 	AL, AZ, CA, GA, IA, IL, IN, MA, MD, MN, MS, NJ, NV, NY, OR, PA, TN, VA, WI	 
	 	Daily @ 0.0175%	$0.18*
	 	AR, CO, D.C., FL, HI, KS, KY, LA, MI, MO, NC, NE, NM, OH, OK, RI, SC, TX, WY
	 	Rates, terms and conditions subject to change. Rates based on a 360 day calendar year.
	 	

                                                                                 

                                                                                *For illustrative purposes only on $1,000.

 

	 	Yes, I would like to enroll in the NextGear Capital Collateral Protection Program!
	 	No, I decline and have provided NextGear Capital with my Certificate of Insurance.

 

	Signature	 	Dealership Name	 	Dealer #	 	Date
	 	 	 	 	 	 	 
	 	 	LMP
    Motors.com, LLC	 	129137	 	 

 

     

     

    

 

ADDENDUM TO DEMAND PROMISSORY NOTE

AND LOAN AND SECURITY AGREEMENT – READY
LOGISTICS

 

THIS ADDENDUM
TO DEMAND PROMISSORY NOTE AND LOAN AND SECURITY AGREEMENT (this “Addendum”) is being entered into by the undersigned
borrower (“Borrower”) and NextGear Capital, Inc. (“Lender”), pursuant to that certain Demand Promissory
Note and Loan and Security Agreement by and between Borrower and Lender (the “Note”).

 

WHEREAS,
Borrower has requested of Lender that Lender make one or more Advances on behalf of Borrower, directly to Ready Logistics LLC (“Ready
Logistics”) in order to cover transportation and other related acquisition charges (collectively “Charges”) incurred
by Borrower related to one or more Units of Lender Financed Inventory; and

 

WHEREAS,
subject to the terms and conditions set forth in the Note and the other Loan Documents, all as the same now exist or are hereafter
amended, supplemented or added to, Lender is willing to make such Advance(s);

 

NOW, THEREFORE,
in consideration of the premises and the mutual agreements and covenants set forth herein, and other good and valuable consideration,
the undersigned hereby agree as follows:

 

		1.	Notwithstanding anything to the contrary in the Note or the other Loan Documents,
the decision to make an Advance related to Charges on behalf of Borrower is the exclusive right of Lender, whether or not an Event
of Default has occurred.

 

		2.	Borrower acknowledges and agrees that Lender may make such Advance(s) at
any time on or after receipt of an invoice from Ready Logistics for such Charges.

 

		3.	Borrower acknowledges and agrees that each Advance made by Lender on behalf
of Borrower, directly to Ready Logistics, to cover Charges, shall be added to the outstanding balance for the related Unit of Lender
Financed Inventory for which such Charge applies, as of the date Lender receives notice from Ready Logistics of such Charge. Such
Advance, shall accrue Interest and other related charges as of such date, regardless of the date the related Charge is actually
paid. Borrower acknowledges and agrees that if an Advance related to a Charge is added to Borrower’s account on a date other
than the Floorplan Date for such Unit of Lender Financed Inventory, that the number of days remaining in the applicable Period,
for an Advance related to a Charge, will be reduced to the number of days remaining in the applicable Period for the related Unit
of Lender Financed Inventory.

 

		4.	Borrower acknowledges and agrees that such Advance(s) is a Liability under
the Note and, except as provided for herein, is subject to all terms and conditions noted therein. Borrower acknowledges and agrees
that Borrower is and shall remain obligated to repay such Liability, including accrued Interest, to Lender no later than the Maturity
Date for such Advance, excepting that Lender may, in its sole discretion and without notice, defer payment of the Advance or any
portion thereof (excluding Interest) until final payoff.

 

		5.	Borrower acknowledges and agrees that Borrower is and shall remain obligated
to repay such Liability to Lender for such Advance(s) no later than the Maturity Date for such Advance(s), regardless of whether
the sale of the related Unit of Lender Financed Inventory, for which an Advance was made to Ready Logistics on Borrower’s
behalf, is subsequently arbitrated, voided, or the vehicle is otherwise returned for any reason.

 

Capitalized
terms used herein but not defined herein shall have the respective meanings as set forth in the Note (such meanings to be equally
applicable to both the singular and plural forms of the terms defined).

 

    	Page 1 of 2	NextGear Addendum to Demand Promissory Note and Loan and Security Agreement (v. 3.2) (129137)

     

    

 

The
undersigned Borrower hereby expressly acknowledges that this Addendum shall be binding on Borrower whether executed in original,
“wet ink” form; submitted by facsimile; or submitted by electronically transmitted signature (“e-signature”).
The undersigned Borrower further acknowledge(s) that the acceptance of the terms of this Addendum, if by e-signature, shall be
deemed to satisfy all requirements imposed on electronic or digital signatures under the Electronic Signatures in Global and National
Commerce Act (the “E-Sign Act”), 15 U.S.C. §7001(a) et seq., and any other similar laws relating to the validity
or enforceability of electronic or digital signatures. Each of the parties acknowledges and agrees that this Addendum may be executed
by affixing to this Addendum an electronic or digital signature, which shall for all purposes be deemed effective to constitute
the valid signature of the party affixing such electronic or digital signature.

 

Borrower,
by its duly authorized representative, AGREES to be bound by the terms of this Addendum as of the date set forth below.

 

Borrower,
by its duly authorized representative, DECLINES the terms of this Addendum. Borrower will not request any Advances to be made
to Ready Logistics on Borrower’s behalf for Charges, and Lender will not approve any such requests.

 

	LENDER:	 
	 	 
	NEXTGEAR CAPITAL, INC.	 
	 	 	 
	By:		 
	Name:	David F. Horan	 
	Title:	VP, Finance	
	 	 	 
	Date:		 
	 	 	 
	BORROWER:	 
	 	 	 
	LMP MOTORS.COM, LLC	 
	 	 
	By:		 
	Name: 	Samer Salahel-Din Tawfik	 
	Title:	Manager	 
	 	 	 
	Date:	 	 

 

 

	Page 2 of 2	NextGear Addendum to Demand Promissory Note and Loan and Security Agreement (v. 3.2) (129137)

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