Document:

FORM
OF

ADDITIONAL
ISSUANCE AGREEMENT

 

This
Additional Issuance Agreement (this “Agreement”), dated as of July 16, 2018, is made pursuant to that
certain Securities Purchase Agreement, dated as of August 31, 2017 (the “Purchase Agreement”), as amended,
by and between Rennova Health, Inc. (the “Company”) and the purchaser signatory hereto (the “Purchaser”)
for the purchase of the Company’s Senior Secured Original Issue Discount Convertible Debenture due September 19, 2019. Capitalized
terms used and not otherwise defined herein that are defined in the Purchase Agreement shall have the meanings given such terms
in the Purchase Agreement.

 

For
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows:

 

1.       Issuance
of Additional Debenture. The Company hereby agrees to issue to the Purchaser, and the Purchaser hereby agrees to purchase,
a debenture of the Company in the aggregate principal amount of $_________, which debenture shall be in the form of the
Debenture (an “Additional Debenture”). The total purchase price to the Purchaser for the purchase of the Additional
Debenture is $_________, which represents an original issue discount to the principal of the Additional Debenture. The
Company shall promptly deliver to the Purchaser the Additional Debenture.

 

2.       Documents.
The rights and obligations of the Purchaser and of the Company with respect to the Additional Debenture and the shares of Common
Stock issuable under the Additional Debenture (the “New Underlying Shares”) shall be identical in all respects
to the rights and obligations of such Purchaser and of the Company with respect to the Debentures and the Underlying Shares issued
and issuable pursuant to the Purchase Agreement. Any rights of a Purchaser or covenants of the Company which are dependent on
such Purchaser holding securities of the Company or which are determined in magnitude by such Purchaser’s purchase of securities
pursuant to the Purchase Agreement shall be deemed to include any securities purchased or issuable hereunder. The Purchase Agreement
is hereby amended so that the term “Debentures” includes the Additional Debenture issued hereunder and “Underlying
Shares” includes the New Underlying Shares.

 

3.       Security
Interest and Mortgage. Company hereby acknowledges and agrees that (a) the security interests granted to the holders of the
Existing Debentures and Debentures pursuant to the Existing Security Agreement applies to and covers the obligations of the Company
to the Purchasers evidenced by the Additional Debentures, (b) upon the filing of the Amendment to the Existing Mortgage (as defined
in the Purchase Agreement), the liens granted to the Purchasers pursuant to the Existing Mortgage applies to and covers the obligations
of the Company to the Purchasers evidenced by the Additional Debentures and (c) the Additional Debentures rank pari passu
to the Existing Debentures and the Debentures.

 

    	1

    	 

    

 

4.       Subsidiary
Guarantee. The Additional Debenture constitutes an “Obligation” under the Subsidiary Guarantee as if the Additional
Debentures were Debentures issued pursuant to the Purchase Agreement.

 

5.       Subordination
Agreement. The Company shall have received confirmations and acknowledgments from the signatories thereto that the Additional
Debentures are subject to the subordination agreements required pursuant to the Purchase Agreement.

 

6.       Additional
Mortgage. Upon the consummation of the acquisition of the assets of an acute care hospital in Jamestown, Tennessee pursuant
to the agreement dated as of January 31, 2018, at the closing thereof, the Company shall, or shall cause the applicable Subsidiary
to, grant the Purchaser a first mortgage or deed of trust lien on the real estate included in such transaction.

 

7.       Additional
Issuances. From the date hereof until December 31, 2018, the Company may offer to sell, but the Purchaser is not obligated
to purchase, on the same terms and conditions as those contained in this Agreement, an additional principal amount of debentures
equal to $_________, in the aggregate, each of which debentures shall be in the form of the Debenture
(upon issuance, each such debenture shall be deemed an “Additional Debenture” for the purposes of this Agreement),
in one or more subsequent closings (each such subsequent closing, a “Subsequent Closing” and the date each
Subsequent Closing occurs, a “Subsequent Closing Date”). The aggregate purchase price to the Purchaser for
the purchase of the Additional Debentures pursuant to this Section 7 is $_________, which represents an original issue
discount to the principal of the Additional Debentures. Between the time period of 4:00 pm (New York City time) and 9:00 pm (New
York City time) on the Trading Day immediately prior to each proposed Subsequent Closing Date (or, if such proposed Subsequent
Closing Date is the first Trading Day following a holiday or a weekend (including a holiday weekend), between the time period
of 4:00 pm (New York City time) on the Trading Day immediately prior to such holiday or weekend and 2:00 pm (New York City time)
on the day immediately prior to such proposed Subsequent Closing Date, the Company shall deliver to the Purchaser a written notice
of the Company proposing the maximum aggregate principal amount of Additional Debentures that the Company desires to sell to the
Purchaser on such Subsequent Closing (each notice, a “Subsequent Closing Notice”). With any Subsequent Closing
Notice, the Company will deliver any updates to Schedule 3(d) hereto. The Purchaser shall provide written notice to the Company
by 6:30 am (New York City time) on the applicable Subsequent Closing Day (the “Notice Termination Time”) that
such Purchaser is willing to purchase all or a portion of the Additional Debentures that the Company proposes to sell in such
Subsequent Closing Notice (such written notice, the “Purchaser Response”). For the purpose of clarification,
the Purchaser shall only be required to purchase, and the Company shall be obligated to sell, the principal amount of Additional
Debentures that the Purchaser sets forth in the Purchaser Response. The delivery of a Purchaser Response by the Purchaser shall
constitute a confirmation that the representations and warranties of the Purchaser in Section 10 shall be true and correct as
of the date of the relevant Subsequent Closing Date. If the Company receives no such notice from the Purchaser as of such
Notice Termination Time, the Purchaser shall be deemed to have notified the Company that it does not elect to purchase any Additional
Debentures on such Subsequent Closing Date. Notwithstanding the foregoing, Purchaser’s election to not purchase Additional
Debentures at any Subsequent Closing is not a waiver of the Purchaser’s rights to purchase Additional Debentures pursuant
to this Section 7. The Company shall promptly deliver to the Purchaser the Additional Debenture purchased pursuant to each Subsequent
Closing, but in no event later than 1 Trading Day following each Subsequent Closing Date.

 

    	2

    	 

    

 

8.       Exchange
Right. Reference is made to that certain Exchange Agreement, dated October 30, 2017, by and between the Company and the Purchaser
(“Exchange Agreement”) and the Series I-2 Convertible Preferred Stock (“Preferred Stock”)
issuable upon exchange of the Existing Securities (as defined thereunder). The Purchaser shall have the right, in its sole discretion,
to exchange, from time to time and all or in part, any principal amount of the Additional Debentures pursuant to the Exchange
Agreement as if such Additional Debentures were Existing Securities. The issuance of Exchange Securities in exchange for Additional
Debentures shall be on the same terms and conditions as the exchange for Existing Securities. The Exchange Agreement is hereby
amended to include in the definition of Existing Securities the Additional Debentures in all respects.

 

9.       Representations
and Warranties of the Company. The Company hereby makes to the Purchaser the following representations and warranties:

 

(a)       Authorization;
Enforcement. The Company has the requisite corporate power and authority to enter into and to consummate the transactions
contemplated by this Agreement and otherwise to carry out its obligations hereunder and thereunder. The execution and delivery
of this Agreement by the Company and the consummation by the Company of the transactions contemplated hereby have been duly authorized
by all necessary action on the part of the Company and no further action is required by the Company, its board of directors or
its stockholders in connection therewith. This Agreement has been duly executed by the Company and, when delivered in accordance
with the terms hereof, will constitute the valid and binding obligation of the Company enforceable against the Company in accordance
with its terms, except (i) as limited by general equitable principles and applicable bankruptcy, insolvency, reorganization, moratorium
and other laws of general application affecting enforcement of creditors’ rights generally, (ii) as limited by laws relating
to the availability of specific performance, injunctive relief or other equitable remedies and (iii) insofar as indemnification
and contribution provisions may be limited by applicable law.

 

(b)       No
Conflicts. The execution, delivery and performance of this Agreement by the Company and the consummation by the Company of
the transactions contemplated hereby do not and will not: (i) conflict with or violate any provision of the Company’s certificate
or articles of incorporation, bylaws or other organizational or charter documents; or (ii) subject to the Required Approvals,
conflict with, or constitute a default (or an event that with notice or lapse of time or both would become a default) under, result
in the creation of any Lien (except as contemplated by the Security Documents) upon any of the properties or assets of the Company
in connection with, or give to others any rights of termination, amendment, acceleration or cancellation (with or without notice,
lapse of time or both) of, any material agreement, credit facility, debt or other material instrument (evidencing Company debt
or otherwise) or other material understanding to which such Company is a party or by which any property or asset of the Company
is bound or affected; or (iii) subject to the Required Approvals, conflict with or result in a violation of any law, rule, regulation,
order, judgment, injunction, decree or other restriction of any court or governmental authority to which the Company is subject
(including federal and state securities laws and regulations), or by which any property or asset of the Company is bound or affected,
except, in the case of each of clauses (ii) and (iii), such as could not have or reasonably be expected to result in a Material
Adverse Effect.

 

    	3

    	 

    

 

(c)       Issuance
of the Additional Debenture. The Additional Debenture is duly authorized and, upon the execution of this Agreement by a Purchaser,
will be duly and validly issued, fully paid and nonassessable, free and clear of all Liens imposed by the Company other than restrictions
on transfer provided for in the Transaction Documents. The New Underlying Shares, when issued in accordance with the terms of
the Additional Debenture, subject to the Required Approvals, will be validly issued, fully paid and nonassessable, free and clear
of all Liens imposed by the Company. The Company has reserved from its duly authorized capital stock a number of shares of Common
Stock for issuance of the New Underlying Shares at least equal to the Required Minimum on the date hereof.

 

(d)       Affirmation
of Prior Representations and Warranties. Except as set forth on Schedule 3(d) hereto, the Company hereby represents
and warrants to each Purchaser that the Company’s representations and warranties listed in Section 3.1 of the Purchase Agreement
are true and correct as of the date hereof.

 

10.       Representations
and Warranties of the Purchaser. The Purchaser hereby represents and warrants as of the date hereof to the Company as follows:

 

(a)       Authority.
The execution, delivery and performance by such Purchaser of the transactions contemplated by this Agreement have been duly authorized
by all necessary corporate or similar action on the part of such Purchaser. This Agreement has been duly executed by such Purchaser
and, when delivered by such Purchaser in accordance with the terms hereof, will constitute the valid and legally binding obligation
of such Purchaser, enforceable against it in accordance with its terms, except (i) as limited by general equitable principles
and applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting enforcement
of creditors’ rights generally, (ii) as limited by laws relating to the availability of specific performance, injunctive
relief or other equitable remedies and (iii) insofar as indemnification and contribution provisions may be limited by applicable
law.

 

    	4

    	 

    

 

(b)       Own
Account. Such Purchaser (i) understands that the Additional Debenture is a “restricted security” and has not been
registered under the Securities Act or any applicable state securities law, (ii) is acquiring the Additional Debenture as principal
for its own account and not with a view to or for distributing or reselling such Additional Debenture or any part thereof in violation
of the Securities Act or any applicable state securities law, (iii) has no present intention of distributing any of such securities
in violation of the Securities Act or any applicable state securities law and (iv) has no arrangement or understanding with any
other persons regarding the distribution of such Additional Debenture (this representation and warranty not limiting such Purchaser’s
right to sell the New Underlying Shares pursuant to the Registration Statement or otherwise in compliance with applicable federal
and state securities laws) in violation of the Securities Act or any applicable state securities law. Such Purchaser is acquiring
the Additional Debenture hereunder in the ordinary course of its business. Such Purchaser does not have any agreement or understanding,
directly or indirectly, with any Person to distribute any of the Additional Debenture or New Underlying Shares.

 

(c)       Purchaser
Status. Such Purchaser is an “accredited investor” as defined in Rule 501under the Securities Act.

 

(d)       General
Solicitation. Such Purchaser is not purchasing the Additional Debenture as a result of any advertisement, article, notice
or other communication regarding the Additional Debenture published in any newspaper, magazine or similar media or broadcast over
television or radio or presented at any seminar or any other general solicitation or general advertisement.

 

11.       Public
Disclosure. The Company shall, by 9:30 a.m. (New York City time) on the date hereof, issue a Current Report on Form 8-K, reasonably
acceptable to the Purchaser, disclosing the material terms of the transactions contemplated hereby and attaching this Agreement
as an exhibit thereto. Additionally, the Company shall by 9:30 a.m. (New York City time) on each Subsequent Closing Date, issue
a Current Report on Form 8-K, reasonably acceptable to the Purchaser, disclosing the aggregate principal amount of Additional
Debentures sold to the Purchaser. The Company shall consult with the Purchaser in issuing any press releases with respect to the
transactions contemplated hereby.

 

12.       Delivery
of Opinion. Concurrently herewith, the Company shall deliver to the Purchaser an opinion of counsel regarding this Agreement
and the issuance of the Additional Debenture in form and substance reasonably acceptable to the Purchaser.

 

13.       Effect
on Transaction Documents. Except as expressly set forth above, all of the terms and conditions of the Transaction Documents
shall continue in full force and effect after the execution of this Agreement and shall not be in any way changed, modified or
superseded by the terms set forth herein, including, but not limited to, any other obligations the Company may have to the Purchaser
under the Transaction Documents. Notwithstanding the foregoing, this Agreement shall be deemed for all purposes as an amendment
to any Transaction Document as required to serve the purposes hereof, and in the event of any conflict between the terms and provisions
of the Debentures or any other Transaction Document, on the one hand, and the terms and provisions of this Agreement, on the other
hand, the terms and provisions of this Agreement shall prevail.

 

    	5

    	 

    

 

14.       Amendments
and Waivers. The provisions of this Agreement, including the provisions of this sentence, may not be amended, modified or
supplemented, and waivers or consents to departures from the provisions hereof may not be given, unless the same shall be in writing
and signed by the Company and each Purchaser.

 

15.       Notices.
Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be delivered as
set forth in the Purchase Agreement.

 

16.       Successors
and Assigns. This Agreement shall inure to the benefit of and be binding upon the successors and permitted assigns of each
of the parties and shall inure to the benefit of each Purchaser. The Company may not assign (except by merger) its rights or obligations
hereunder without the prior written consent of the Purchaser of the then-outstanding Securities. The Purchaser may assign their
rights hereunder in the manner and to the Persons as permitted under the Purchase Agreement.

 

17.       Execution
and Counterparts. This Agreement may be executed in two or more counterparts, all of which when taken together shall be considered
one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other
party, it being understood that both parties need not sign the same counterpart. In the event that any signature is delivered
by facsimile transmission or by e-mail delivery of a “.pdf” format data file, such signature shall create a valid
and binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as
if such facsimile or “.pdf” signature page were an original thereof.

 

18.       Governing
Law. All questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be determined
in accordance with the provisions of the Purchase Agreement.

 

19.       Severability.
If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid,
illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain
in full force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use their commercially
reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated
by such term, provision, covenant or restriction. It is hereby stipulated and declared to be the intention of the parties that
they would have executed the remaining terms, provisions, covenants and restrictions without including any of such that may be
hereafter declared invalid, illegal, void or unenforceable.

 

    	6

    	 

    

 

20.       Fees
and expenses. At the closing, the Company has agreed to reimburse the Purchaser $10,000 for its fees and expenses. The Company
shall deliver to each Purchaser, prior to closing, a completed and executed copy of a closing statement, for the closing of the
purchase and sale of the Additional Debenture, otherwise in the form attached to the Purchase Agreement.

 

21.       Headings.
The headings in this Agreement are for convenience only, do not constitute a part of the Agreement and shall not be deemed to
limit or affect any of the provisions hereof.

 

[SIGNATURE
PAGE FOLLOWS]

 

    	7

    	 

    

 

Executed
as of the first date written above by the undersigned duly authorized representatives of the Company and the Purchaser:

 

RENNOVA
HEALTH, INC.

 

	By:		 
	Name:	 	 
	Title:	 	 

 

Name
of Purchaser: ___________________________________

 

Signature
of Authorized Signatory: ___________________________

 

Name
of Authorized Signatory: 

 

Title
of Authorized Signatory: 

 

Purchase
Price: $_________

 

Debenture:
$_________

 

    	8EXHIBIT 10.1

Aegon Loan Nos. 10518144, 10518145, 

10518146,
10518147, 10518148, 10518149, 

10518150, 10518151, 10518152, 10518153, 

10518154, 10518155, 10518156, 10518157, 

10518158, 10518159,
10518160 and 10518161

Aggregate Principal Amount: $78,000,000

Loan Agreement

THIS LOAN AGREEMENT (the “Agreement”)
is made as of this 10th day of July, 2018 (the “Effective Date”), by and between Transamerica Life Insurance
Company, an Iowa corporation having an office c/o AEGON USA Realty Advisors, LLC, 4333 Edgewood Road, N.E., Cedar Rapids, Iowa
52499-5443 (together with its successors and assigns, the “Lender”), and Plymouth
MWG 13040 South Pulaski LLC, Plymouth MWG 11601 South Central LLC, Plymouth MWG 6000 West 73rd LLC, Plymouth MWG 6510 West 73rd
LLC, Plymouth MWG 6558 West 73rd LLC, Plymouth MWG 6751 South Sayre LLC, Plymouth MWG 7200 South Mason LLC, Plymouth MWG 1445 Greenleaf
LLC, Plymouth MWG 1796 Sherwin LLC, Plymouth 3 West College LLC, Plymouth 1600 Fleetwood LLC, Plymouth South McLean LLC, Plymouth
MWG 28160 North Keith LLC, Plymouth MWG 13970 West Laurel LLC, Plymouth MWG 3841 Swanson LLC, Plymouth MWG 525 West Marquette LLC,
Plymouth MWG 5110 South 6th LLC, and Plymouth MWG 1750 South Lincoln LLC,
each a limited liability company organized under Delaware law (each, a “Borrower” and, collectively, the “Borrowers”),
each with an address at Plymouth Industrial REIT, Inc., 260 Franklin Street, 7th Floor, Boston, Massachusetts 02110.

		1.	RECITALS

		(a)	Under the terms of a commercial Loan Application/Commitment
dated April 18, 2018 (the “Commitment”), AEGON USA Realty Advisors, LLC
(“Aegon”), as agent for Lender, agreed to fund a portfolio of commercial mortgage loans in the aggregate principal
amount of $78,000,000 (the “Loan”).

		(b)	The Loan is evidenced by secured promissory notes (each, a “Note” and, collectively,
the “Notes”). Each Note is made by one of the Borrowers, and the combined original principal balances of the
Notes are equal to the amount of the Loan.

		(c)	Each Note is primarily secured by a Mortgage, Security Agreement and Fixture Filing or other security
instrument of even date herewith (each, a “Mortgage” and, collectively, the “Mortgages”),
encumbering or conveying as security for the applicable Note one or more parcels of Land (each, a “Parcel” and
collectively, the “Real Property”). For servicing purposes, each of the Notes has a separate “Loan Number”
which appears in the footer of all of the documents relating primarily to that Borrower, its Note, and its related Parcel.

		(d)	In order to realize the benefits of the Loan, each of the Borrowers desires to guarantee the obligations
of all of the other Borrowers with respect to the Loan.

		(e)	Under the Commitment, the Lender has agreed to the amount, interest rate, maturity, and other provisions
of the Loan on the express condition that the Borrowers enter into a loan agreement evidencing the willingness of each of them
for the Parcel owned by such Borrower to serve as collateral for the Loan as a whole in the event that any Borrower defaults in
its obligations under any of the

    1 

Loan Agreement
Plymouth Chicago Portfolio, Alsip, Bedford Park, Elk Grove, Des Plaines, Arlington Heights, Elgin, Lake Forest, Gurnee and Freeport. Illinois and Oak Creek and Milwaukee, Wisconsin
 AEGON Loan Nos. 10518144, 10518145, 10518146, 10518147, 10518148, 10518149, 10518150, 10518151, 10518152, 10518153, 10518154, 10518155, 10518156, 10518157, 10518158, 10518159, 10518160 and 10518161

     

    

documents entered into in connection with
the Loan, including this Agreement (the “Loan Documents”).

		2.	AGREEMENT

To complete the transactions contemplated by
the Commitment, to induce the Lender to make the Loan, and in consideration of the sum of ten dollars ($10.00) and other valuable
consideration, the receipt and sufficiency of which are acknowledged, the Borrowers and the Lender hereby enter into this Agreement
on the terms that follow. Capitalized terms used but not defined in this Agreement shall have the definitions given them in the
applicable Notes, Mortgages, or other Loan Documents.

		3.	DEFINITIONS

“Borrower” and “Borrowers”
have the meaning set forth in Section 1.

“Business
Day” means any day when state and federal banks are open for business in New York, New York.

“Indebtedness”
means all sums that are owed or become due pursuant to the terms of the Notes or other Loan Documents, or any other communications
or writings by or between the Borrowers and the Lender relating to the Loan, including scheduled principal payments, scheduled
interest payments, default interest, late charges, prepayment premiums, accelerated or matured principal balances, advances, collection
costs (including reasonable attorneys’ fees), reasonable attorneys’ fees and costs in enforcing or protecting the Notes,
the Mortgages, or any of the other Loan Documents in any bankruptcy proceeding, receivership costs and all other financial obligations
of the Borrowers incurred in connection with the Loan.

“Mortgage” and “Mortgages”
have the meaning set forth in Section 1.

“Mortgage
Taxes” means the mortgage recording, transfer or other taxes to be paid upon recordation of the Mortgages.

“Note” and “Notes”
have the meaning set forth in Section 1.

“Notice”
means a notice given in accordance with the provisions of Subsection 8.1.

“Parcel”
has the meaning set forth in Section 1.

		4.	BORROWERS’ AGREEMENTS

		4.1	Representations and Warranties

Each Borrower represents and warrants to
the Lender that (a) it is not the subject of any bankruptcy court filing, insolvency proceeding, receivership, composition or assignment
for the benefit of creditors, (b) it is adequately capitalized and has the ability to pay its debts as they become due, (c) it
is solvent and will not be rendered insolvent as a result of its obligations under this Agreement or the other Loan Documents,
(d) it has received reasonably equivalent value in exchange for encumbering its Parcel to secure its obligations under this Agreement
and the other Loan Documents, (e) it is an affiliate of the other Borrowers and will receive a direct and material benefit from
the making of the Loan to the such Borrower and the other Borrowers, and (f) the benefits derived by such Borrower from this Agreement
and the other Loan Documents are equivalent to the burdens imposed upon such Borrower and its Parcel by this Agreement and the
other Loan Documents, notwithstanding that such Borrower’s Note and the other Notes may be of differing amounts.

    2 

Loan Agreement
Plymouth Chicago Portfolio, Alsip, Bedford Park, Elk Grove, Des Plaines, Arlington Heights, Elgin, Lake Forest, Gurnee and Freeport. Illinois and Oak Creek and Milwaukee, Wisconsin
 AEGON Loan Nos. 10518144, 10518145, 10518146, 10518147, 10518148, 10518149, 10518150, 10518151, 10518152, 10518153, 10518154, 10518155, 10518156, 10518157, 10518158, 10518159, 10518160 and 10518161

     

    

		4.2	Loan Allocation

The Borrowers consent to the allocation
of the amount of the Loan among the Notes as follows:

	Loan Number	Borrower	Note Original Balance
	10518144	Plymouth MWG 13040 South Pulaski LLC	$7,305,000.00
	10518145	Plymouth MWG 11601 South Central LLC	$5,100,000.00
	10518146	Plymouth MWG 6000 West 73rd LLC	$3,970,000.00
	10518147	Plymouth MWG 6510 West 73rd LLC	$6,360,000.00
	10518148	Plymouth MWG 6558 West 73rd LLC	$5,730,000.00
	10518149	Plymouth MWG 6751 South Sayre LLC	$5,415,000.00
	10518150	Plymouth MWG 7200 South Mason LLC	$5,605,000.00
	10518151	Plymouth MWG 1445 Greenleaf LLC	$4,470,000.00
	10518152	Plymouth MWG 1796 Sherwin LLC	$2,675,000.00
	10518153	Plymouth 3 West College LLC	$1,575,000.00
	10518154	Plymouth 1600 Fleetwood LLC	$8,185,000.00
	10518155	Plymouth South McLean LLC	$2,620,000.00
	10518156	Plymouth MWG 28160 North Keith LLC	$2,600,000.00
	10518157	Plymouth MWG 13970 West Laurel LLC	$2,335,000.00
	10518158	Plymouth MWG 3841 Swanson LLC	$2,575,000.00
	10518159	Plymouth MWG 525 West Marquette LLC	$2,895,000.00
	10518160	Plymouth MWG 5110 South 6th LLC	$1,470,000.00
	10518161	Plymouth MWG 1750 South Lincoln LLC	$7,115,000.00
	 	Total	$78,000,000

This allocation is made solely for the
purpose of determining the amount of the recordation, transfer or mortgage taxes to be paid upon the recordation of the Mortgages,
and shall not limit the extent or priority of the lien or security interest created by the Mortgages. If any Legal Requirement
requires that additional Mortgage Taxes be paid in order to ensure that the lien or security interest created by any Mortgage extend
to the full amount of the Loan, the Borrowers shall pay the additional Mortgage Taxes.

		4.3	Cross Default

Any “Default” as defined under
any of the Loan Documents entered into by any Borrower shall constitute a default (a “Default”) under the terms
of this Agreement and the other Loan Documents. Any Default under this Agreement shall constitute a “Default” under
each of the Notes and the other Loan Documents entered into by any Borrower.

    3 

Loan Agreement
Plymouth Chicago Portfolio, Alsip, Bedford Park, Elk Grove, Des Plaines, Arlington Heights, Elgin, Lake Forest, Gurnee and Freeport. Illinois and Oak Creek and Milwaukee, Wisconsin
 AEGON Loan Nos. 10518144, 10518145, 10518146, 10518147, 10518148, 10518149, 10518150, 10518151, 10518152, 10518153, 10518154, 10518155, 10518156, 10518157, 10518158, 10518159, 10518160 and 10518161

     

    

		4.4	Cross Guarantees

Each of the Borrowers (the “Guaranteeing
Borrower”) hereby unconditionally guarantees to the Lender that all payment obligations of the other Borrowers, including,
without limitation, all principal, interest and other amounts due under the Loan Documents, will be paid in the amounts, at the
times and in the manner set forth in the Loan Documents, and that all of the terms, covenants and conditions required in the Loan
Documents to be kept, observed or performed by each other Borrower will be performed at the time and in the manner set forth in
the Loan Documents. The payment and performance obligations set forth in this paragraph are collectively referred to as the “Guaranteed
Obligations.” If a Borrower is released from its Obligations under the Loan in connection with a Release or a Substitution
in accordance with the terms of this Agreement, such Borrower shall be released from the Guaranteed Obligations.

The guarantee of each of the Borrowers
set forth in this Agreement is irrevocable, absolute and unconditional, and is one of payment and not just collection, and is subject
only to the occurrence of a Default under the Loan Documents.

In any enforcement action against the Guaranteeing
Borrower, Guaranteeing Borrower shall not assert or exercise against the Lender any right of setoff, recoupment, or counterclaim,
whether such right is independent of, or derives from, the Borrower whose Default has given rise the enforcement action (the “Defaulting
Borrower”).

No modification, limitation or discharge
of any of the liabilities or obligations of the Defaulting Borrower or any other Borrower, arising out of, or by virtue of, any
bankruptcy or similar proceeding for relief of debtors under federal or state law initiated by or against the Defaulting Borrower
or any other Borrower shall modify, limit, reduce, impair, discharge, or otherwise affect the liability of the Guaranteeing Borrower
in any manner whatsoever, and the guarantee of the Agreement shall continue in full force and effect, notwithstanding any such
proceeding.

The Guaranteeing Borrower waives any right
to require the Lender to: (i) proceed against the Defaulting Borrower or any other guarantor, (ii) proceed against any collateral,
(iii) pursue any other remedy in the Lender’s power whatsoever, or (iv) notify the Guaranteeing Borrower of any default by
the Defaulting Borrower in the payment of any amounts due under the Loan Documents or in the performance of any agreement of the
Defaulting Borrower under the Loan Documents.

The Guaranteeing Borrower waives any defense
arising by reason of any of the following: (i) any disability or any counterclaim or right of set-off or other defense of the Defaulting
Borrower or any other Borrower, (ii) any lack of authority of the Defaulting Borrower or any other Borrower with respect to the
Loan Documents, (iii) the invalidity, illegality or lack of enforceability of the Loan Documents or any provision thereof from
any cause whatsoever, including any action or inaction by the Lender, (iv) the failure of the Lender to perfect or maintain perfection
of any security interest in any collateral, (v) the cessation from any cause whatsoever of the liability of the Defaulting Borrower
or any other Borrower, (vi) that the Loan Documents shall be void or voidable as against the Defaulting Borrower, any other Borrower
or any of the Defaulting Borrower’s or any other Borrower’s creditors, including a trustee in bankruptcy of the Defaulting
Borrower or any other Borrower, by reason of any fact or circumstance, (vii) the delay or failure of the Lender to exercise any
of its rights and remedies against the Defaulting Borrower, any other Borrower or any collateral or security for the Loan Documents
or this Agreement, (viii) any event or circumstance that might otherwise constitute a legal or equitable discharge of the Guaranteeing
Borrower’s obligations hereunder; provided, however, that the Guaranteeing Borrower does not waive any defense arising from
the due performance by the Defaulting

    4 

Loan Agreement
Plymouth Chicago Portfolio, Alsip, Bedford Park, Elk Grove, Des Plaines, Arlington Heights, Elgin, Lake Forest, Gurnee and Freeport. Illinois and Oak Creek and Milwaukee, Wisconsin
 AEGON Loan Nos. 10518144, 10518145, 10518146, 10518147, 10518148, 10518149, 10518150, 10518151, 10518152, 10518153, 10518154, 10518155, 10518156, 10518157, 10518158, 10518159, 10518160 and 10518161

     

    

Borrower of the terms and conditions of
the Loan Documents, (ix) all errors and omissions in connection with the Lender’s administration of all indebtedness guaranteed
by this Agreement, except errors and omissions resulting from the Lender’s acts of bad faith, gross negligence or willful
misconduct, (x) any right or claim of right to cause a marshaling of the assets of the Defaulting Borrower or any other Borrower,
(xi) any act or omission of the Lender (except acts or omissions resulting from the Lender’s bad faith, gross negligence
or willful misconduct) that changes the scope of the Guaranteeing Borrower’s or any other Borrower’s risk hereunder,
and (xii) all other notices and demands otherwise required by law which the Guaranteeing Borrower may lawfully waive.

Until the payment of all amounts due under
the Loan Documents and the performance of all of the terms, covenants and conditions therein required to be kept, observed or performed
by the other Borrowers, the Guaranteeing Borrower waives (i) any right to enforce any remedy that the Lender now has or may hereafter
have against the other Borrowers, and (ii) any benefit of, and any right to participate in, any security now or hereafter held
by the Lender.

The Guaranteeing Borrower waives all rights
of subrogation against the Defaulting Borrower or any other Borrower, for the express purpose that the Guaranteeing Borrower shall
not be deemed a “creditor” of the Defaulting Borrower or any other Borrower under applicable bankruptcy law with respect
to the Defaulting Borrower’s or any other Borrower’s obligations to the Lender.

The Guaranteeing Borrower waives all presentments,
demands for performance, notices of nonperformance, protests, notices of dishonor, and notices of acceptances of this Agreement.

The Guaranteeing Borrower waives the benefit
of any statute of limitations affecting its liability hereunder or the enforcement thereof.

The Guaranteeing Borrower hereby subordinates
the payment and the time of payment of all indebtedness and obligations of the other Borrowers to the Guaranteeing Borrower of
every kind and nature whatsoever whether now in existence or hereafter entered into (the “Subordinated
Indebtedness”) to the payment of all obligations of the Guaranteeing Borrower under this Agreement. At such time
as there is a Default, the Guaranteeing Borrower shall not receive any payment or distribution on account of, or accept any collateral
or security for, or bring any action to collect, the Subordinated Indebtedness. The Guaranteeing Borrower shall not assign, transfer,
pledge or dispose of the Subordinated Indebtedness while this Agreement is in effect.

If the Guaranteeing Borrower does receive
any such payment or distribution, whether voluntary or involuntary, and whether or not under any state or federal bankruptcy or
other insolvency proceedings, after a Default, then the Guaranteeing Borrower agrees and directs that any such payment or distribution
shall be paid or delivered directly to the Lender for application to the obligations of the Guaranteeing Borrower under this Agreement
(whether due or not and in such order and manner as the Lender may elect). If any such payment or distribution is received by the
Guaranteeing Borrower after a Default, the Guaranteeing Borrower will deliver the same to the Lender, and until so delivered, the
same shall be held in trust by the Guaranteeing Borrower as property of the Lender. As further assurance of the authorization herein
given, the Guaranteeing Borrower agrees to execute and deliver to the Lender any power of attorney, assignment, endorsement, or
other instrument as may be requested by the Lender to enable the Lender to enforce any claims upon the Subordinated Indebtedness
and to collect and receive any payment or distribution with respect to the Subordinated Indebtedness. The Guaranteeing Borrower
hereby irrevocably authorizes and empowers the Lender to demand, sue for, collect and receive every such payment or distribution
on account of the Subordinated Indebtedness and to file claims and take such other proceedings in the name of the Lender or in
the name of the Guaranteeing

    5 

Loan Agreement
Plymouth Chicago Portfolio, Alsip, Bedford Park, Elk Grove, Des Plaines, Arlington Heights, Elgin, Lake Forest, Gurnee and Freeport. Illinois and Oak Creek and Milwaukee, Wisconsin
 AEGON Loan Nos. 10518144, 10518145, 10518146, 10518147, 10518148, 10518149, 10518150, 10518151, 10518152, 10518153, 10518154, 10518155, 10518156, 10518157, 10518158, 10518159, 10518160 and 10518161

     

    

Borrower as the Lender may deem necessary
or advisable to carry out the provisions of this Agreement.

To secure the performance by the Guaranteeing
Borrower of the provisions of this Agreement, Guaranteeing Borrower assigns, pledges and grants to the Lender a security interest
in, and lien on, the Subordinated Indebtedness, all proceeds thereof and all and any security and collateral therefor. Upon the
request of the Lender, the Guaranteeing Borrower shall endorse, assign and deliver to the Lender all notes, instruments and agreements
evidencing, securing, guaranteeing or made in connection with the Subordinated Indebtedness.

		4.5	Payment of Monthly installments of Principal and Interest

The Borrowers agree to pay, or cause to
be paid, monthly installments of principal and interest on the Loan through separate payments on each of the Notes.

		4.6	Default

It shall be a “Default” of
the Borrowers under this Agreement if the obligation of any Borrower to pay any of the Indebtedness becomes subject to a claim
that collateralization of such Borrower’s Parcel secured by the related Mortgage or any of the related Loan Documents constitutes
a fraudulent conveyance or transfer, or otherwise becomes subject to avoidance under any fraudulent transfer law, in either case,
including Section 548 of Title 11 of the United States Code or any applicable provisions of comparable laws of the State of Delaware,
the State of Illinois or the State of Wisconsin, unless a motion for the dismissal of the petition or proceeding or other action
is filed within twenty (20) days and results in its dismissal within sixty (60) days of the filing of the petition or proceeding
or other action.

		5.	SEPARATE IDENTITY COVENANTS

		5.1	Organizational Documents.

Each Borrower covenants and agrees not
to modify or amend its organizational documents in any way which would conflict with, or would modify or eliminate that such Borrower
observe, the requirements of Subsection 6.5 (Bankruptcy Remote Entity) of the Mortgage.

		5.2	Inspection

Lender and its agents, upon not less than
two Business Days’ notice, shall have the right from time to time to inspect the books and records of any Borrower (or all
of them) during business hours at its principal office in order to verify whether or not such Borrower is complying with the provisions
of Section 5.1.

		6.	PREPAYMENTS, RELEASES AND TRANSFERS

		6.1	Prepayments

The Borrowers shall have the collective
right to voluntarily prepay the Loan in whole or in part only by remitting to the Lender an amount sufficient to reduce the principal
balance of the Loan by $500,000 or more. Any such voluntary prepayment shall be applied to the Notes pro rata based on their outstanding
principal balances at the time of the prepayment, and shall be subject to the provisions of the Notes requiring the payment of
prepayment premiums in respect of prepayments. The required monthly payment amounts on the Notes shall be re-amortized based on
their reduced principal balances and then-remaining amortization schedules.

    6 

Loan Agreement
Plymouth Chicago Portfolio, Alsip, Bedford Park, Elk Grove, Des Plaines, Arlington Heights, Elgin, Lake Forest, Gurnee and Freeport. Illinois and Oak Creek and Milwaukee, Wisconsin
 AEGON Loan Nos. 10518144, 10518145, 10518146, 10518147, 10518148, 10518149, 10518150, 10518151, 10518152, 10518153, 10518154, 10518155, 10518156, 10518157, 10518158, 10518159, 10518160 and 10518161

     

    

		6.2	Release of a Parcel

The Borrowers may cause from time to time
the release of a Parcel as security for the Loan (a “Release”). The Lender’s obligation to release a Parcel
is subject to the following conditions:

		(a)	The Release shall not occur if it such Release would cause the total number of Releases, measured
by the number of Parcels released, to exceed three (3).

		(b)	No Default beyond any applicable cure period shall
exist under the Loan, nor shall any act, omission or circumstance exist which, following notice and absence of a cure, would become
a Default under the Loan.

		(c)	The Borrowers shall have requested the Release
in writing no less than thirty (30) days prior to the date of the proposed Release.

		(d)	At the time of the Release, the Lender shall receive from the Borrowers a prepayment of the Loan
calculated in accordance with this Subsection 6.2(d) (the “Release Amount”). With respect to the Parcel being
released, the Release Amount shall equal (A) the amount which would be required to prepay the related Note in full in accordance
with Section 7 of such Note, including the prepayment premium calculated on the voluntarily prepaid principal amount of such Note,
multiplied by (B) one hundred fifteen percent (115%) (the “Payoff Amount”). The portion of the Payoff Amount
which exceeds the amounts then due and owning under the related Note (including any applicable prepayment premium) shall be applied
to the remaining Notes, pro rata, based on their respective principal balances, as a voluntary partial principal prepayment
and a prepayment premium on such applied amount calculated in accordance with Section 7 of each remaining Note. Following any such
paydown of the remaining Notes, payments under each remaining Note shall be re-amortized by the Lender based on such Note’s
then-remaining amortization schedule.

		(e)	The Borrowers shall pay all costs and expenses in connection with any such Release, whether or
not it is carried out, including without limitation (i) an administrative fee of Five Thousand Dollars ($5,000) payable to the
Lender, (ii) the Lender’s reasonable attorneys’ fees and expenses, and (iii) title endorsement premiums and recording
fees, if any.

Upon satisfaction of
the foregoing conditions, the Lender shall prepare an instrument of release of the lien of the applicable Mortgage and all other
documentation of a ministerial or administrative nature that is necessary to be delivered by the Lender in connection with such
Release.

		6.3	Substitution of a Parcel

The Borrowers may cause from time to time
the release of a Parcel as security for the Loan and a simultaneous substitution of another commercial property satisfactory to
the Lender (the “Substituted Parcel”) as collateral for the Loan (a “Substitution”). The
Lender’s obligation to consent to a Substitution is subject to the following conditions:

		(a)	The Substitution shall not occur if it such Substitution would cause the total number of Substitutions,
measured by the number of Parcels substituted, to exceed three (3).

		(b)	No Default shall exist under the Loan, nor shall
any act, omission or circumstance exist which, following notice and absence of a cure, would become

    7 

Loan Agreement
Plymouth Chicago Portfolio, Alsip, Bedford Park, Elk Grove, Des Plaines, Arlington Heights, Elgin, Lake Forest, Gurnee and Freeport. Illinois and Oak Creek and Milwaukee, Wisconsin
 AEGON Loan Nos. 10518144, 10518145, 10518146, 10518147, 10518148, 10518149, 10518150, 10518151, 10518152, 10518153, 10518154, 10518155, 10518156, 10518157, 10518158, 10518159, 10518160 and 10518161

     

    

a Default under the Loan (unless the Lender
determines, in its reasonable discretion, that the cure of such a potential Default is being diligently pursued and is likely to
be achieved).

		(c)	The Borrowers shall have requested the Release
in writing no less than seventy-five (75) days prior to the date of the proposed Substitution; provided, however, that the Lender
shall use commercially reasonably efforts to close the Substitution no later than sixty (60) days following the date that the Lender
has received from the Borrowers all information and funds necessary to order third-party reports required to underwrite the proposed
Substitution.

		(d)	The market value of the Substituted Parcel shall not be less than one hundred fifteen percent (115%)
of the market value of the Parcel being released, as determined by the Lender based on new appraisals of the Parcel being released
and the Substituted Parcel, as determined under the procedure described in Section 13 of the Commitment.

		(e)	The Lender shall receive satisfactory customary diligence related to the Substituted Parcel, including
without limitation leases, operating and occupancy statements, and tenant estoppels and subordination, non-disturbance and attornment
agreements.

		(f)	The Lender shall receive satisfactory insurance documentation demonstrating that the Substituted
Parcel is insured with insurance that complies with the requirements of the Loan Documents.

		(g)	The Lender shall receive satisfactory engineering and environmental reports for the Substituted
Parcel delivered by third-party vendors satisfactory to the Lender.

		(h)	In addition to a lender’s title insurance policy, zoning report and survey satisfactory the
Lender related to the Substituted Parcel, the Lender shall receive a “tie-in” or similar endorsement, together with
a “first loss” endorsement, each satisfactory to the Lender, to each title insurance policy insuring the lien of the
Mortgages on the date of the Substitution with respect to the title insurance policy insuring the lien of the mortgage encumbering
the Substituted Parcel.

		(i)	The Lender shall receive certified organizational documents and a good standing certificate satisfactory
to the Lender for the owner of the Substituted Parcel (the “Substitution Borrower”), and the Substitution Borrower
shall authorize, execute and deliver loan documents related to the Substituted Parcel substantially similar to the Loan Documents
executed by the Borrower who owns the Parcel being substituted (including without limitation a mortgage and assignment of leases
and rents encumbering the Substituted Parcel and a UCC-1 financing statement perfecting the Lender’s interest in the personal
property of the Substitution Borrower) and shall be in compliance with the representations, warranties and covenants contained
in such Loan Documents (including without limitation Subsections 6.5 and 6.27 of the Mortgage). The Substitution Borrower shall
ratify and become a party to this Agreement (including without limitation Subsections 4.3 and 4.4) and any other Loan Documents
as requested by the Lender.

		(j)	The Carveout Obligor shall authorize, execute and deliver an environmental indemnity and a carveout
agreement and guarantee related to the Substituted

    8 

Loan Agreement
Plymouth Chicago Portfolio, Alsip, Bedford Park, Elk Grove, Des Plaines, Arlington Heights, Elgin, Lake Forest, Gurnee and Freeport. Illinois and Oak Creek and Milwaukee, Wisconsin
 AEGON Loan Nos. 10518144, 10518145, 10518146, 10518147, 10518148, 10518149, 10518150, 10518151, 10518152, 10518153, 10518154, 10518155, 10518156, 10518157, 10518158, 10518159, 10518160 and 10518161

     

    

Parcel and the Substitution Borrower substantially
similar to those executed by the Carveout Obligor for the Parcel and Borrower being released.

		(k)	The Lender shall receive a satisfactory legal opinion relating to substantially similar corporate
and enforceability matters as were contained in the legal opinions received by the Lender related to the Loan Documents on the
date of this Agreement.

		(l)	If the Substituted Parcel is subject to a property management agreement, such property management
agreement and property manager shall be in compliance with the requirements of the Loan Documents, and such property manager shall
authorize, execute and deliver an assignment and subordination of management agreement substantially similar to those delivered
in connection with the origination of the Loan.

		(m)	The Borrowers shall pay (i) to the Lender (as its sole compensation for its underwriting and closing
efforts) a fee of one percent (1%) of the value of the Substituted Property and (ii) all costs and expenses in connection with
any such Substitution, whether or not it is carried out, including without limitation (A) the Lender’s reasonable attorneys’
fees and expenses, (B) appraisal, environmental and engineering costs, and (iv) title endorsement premiums and recording fees.

The Lender may base its
consent concerning the Substitution or any of the above specified deliveries based solely on its own economic interests and on
the marginal effect of the Substitution on the Loan and on the Lender’s investment portfolio. In doing so, the Lender may
only consider any factor (A) reasonably related to the quality of the proposed Substituted Property as collateral, including, without
limitation, market value, cash flow, projected capital requirements, tenant quality, location, condition of title, quality and
expected life of the improvements, and the environmental condition of the property and (B) related to the effect of the Substitution
on the Lender’s overall portfolio, including, without limitation, asset types, investment concentrations in markets or submarkets,
and tenant credit exposures. The closing of the Substitution shall be carried out in accordance with the Lender’s then-current
mortgage loan origination practices.

Upon satisfaction of
the foregoing conditions, the Lender shall prepare an instrument of release of the lien of the applicable Mortgage and all other
documentation of a ministerial or administrative nature that is necessary to be delivered by the Lender in connection with such
Substitution.

		6.4	Transfers

		(a)	Permitted Transfer to an Approved Purchaser

No Borrower may exercise its rights under
Subsection 14.1 of its related Mortgage unless all of the Real Property is sold simultaneously either (A) to a single New Borrower
pursuant to a permitted assumption under Subsection 14.1 of all of the Mortgages, or (B) to multiple New Borrowers pursuant to
a permitted assumption and a fully cross-defaulted, cross-collateralized transaction.

		(b)	Permitted Transfers of Certain Passive Interests

No Borrower may exercise its rights under
Subsection 14.2 of its related Mortgage unless, following the exercise of such rights, all of the Borrowers continue to share the
same structure of ultimate beneficial ownership and Legal Control following the transfers.

    9 

Loan Agreement
Plymouth Chicago Portfolio, Alsip, Bedford Park, Elk Grove, Des Plaines, Arlington Heights, Elgin, Lake Forest, Gurnee and Freeport. Illinois and Oak Creek and Milwaukee, Wisconsin
 AEGON Loan Nos. 10518144, 10518145, 10518146, 10518147, 10518148, 10518149, 10518150, 10518151, 10518152, 10518153, 10518154, 10518155, 10518156, 10518157, 10518158, 10518159, 10518160 and 10518161

     

    

		7.	ELECTION OF REMEDIES

In the event of Default, the Lender need not
resort first to its remedies under the Loan Documents executed by the Borrower that has executed the Note or the Loan Documents
from which the Default arises. The Lender may instead exercise its remedies for Default under any of the Loan Documents executed
by any other Borrower, at its sole and absolute discretion.

		8.	MISCELLANEOUS

		8.1	Applicable Law

This Agreement shall be interpreted, construed,
applied, and enforced according to, and will be governed by, the laws of the State of New York, without regard to any choice of
law principles which, but for this provision, would require the application of the law of another jurisdiction and regardless of
where executed or delivered, where payable or paid, where any cause of action accrues in connection with this transaction, where
any action or other proceeding involving this Agreement is instituted or pending, and whether the laws of the State of New York
otherwise would apply the laws of another jurisdiction.

		8.2	Notices

In order for any demand, consent, approval
or other communication to be effective under the terms of this Agreement, “Notice” must be provided under the terms
of this Subsection. All Notices must be in writing. Notices may be (a) delivered by hand, (b) transmitted by electronic mail (with
a duplicate copy sent by first class mail, postage prepaid), (c) sent by certified or registered mail, postage prepaid, return
receipt requested, or (d) sent by reputable overnight courier service, delivery charges prepaid. Notices shall be addressed as
set forth below:

If to Lender:

Transamerica Insurance Company

c/o AEGON USA Realty Advisors, LLC

4333 Edgewood Road, N.E.

Cedar Rapids, Iowa 52499-5443

Attn: Mortgage Loan Department

Reference: Loan Nos. 10518144, 10518145, 10518146, 10518147, 10518148, 10518149, 10518150, 10518151, 10518152, 10518153, 10518154,
10518155, 10518156, 10518157, 10518158, 10518159, 10518160 and 10518161

E-Mail Address: AAMServicing@aegonusa.com

If to the Borrower:

Plymouth MWG 13040 South Pulaski LLC, Plymouth
MWG 11601 South Central LLC, Plymouth MWG 6000 West 73rd LLC, Plymouth MWG 6510 West 73rd LLC, Plymouth MWG 6558 West 73rd LLC,
Plymouth MWG 6751 South Sayre LLC, Plymouth MWG 7200 South Mason LLC, Plymouth MWG 1445 Greenleaf LLC, Plymouth MWG 1796 Sherwin
LLC, Plymouth 3 West College LLC, Plymouth 1600 Fleetwood LLC, Plymouth South McLean LLC, Plymouth MWG 28160 North Keith LLC, Plymouth
MWG 13970 West Laurel LLC, Plymouth MWG 3841 Swanson LLC, Plymouth MWG 525 West Marquette LLC, Plymouth MWG 5110 South 6th LLC,
and Plymouth MWG 1750 South Lincoln LLC

c/o Plymouth Industrial REIT, Inc.

260 Franklin Street, Suite 700

Boston, Massachusetts 02110

Attn: Pendleton P. White, Jr.

    10 

Loan Agreement
Plymouth Chicago Portfolio, Alsip, Bedford Park, Elk Grove, Des Plaines, Arlington Heights, Elgin, Lake Forest, Gurnee and Freeport. Illinois and Oak Creek and Milwaukee, Wisconsin
 AEGON Loan Nos. 10518144, 10518145, 10518146, 10518147, 10518148, 10518149, 10518150, 10518151, 10518152, 10518153, 10518154, 10518155, 10518156, 10518157, 10518158, 10518159, 10518160 and 10518161

     

    

E-Mail Address: pen.white@plymouthrei.com

with a copy to:

Brown Rudnick LLP

One Financial Center

Boston, Massachusetts 02111

Attn: Kevin Joyce, Esq.

E-Mail Address: kjoyce@brownrudnick.com

Notices delivered by hand or by overnight
courier shall be deemed given when actually received or when refused by their intended recipient. Notices sent by electronic mail
will be deemed delivered when a legible copy has been received (provided receipt has been verified by telephone confirmation or
one of the other permitted means of giving Notices under this Subsection). Mailed Notices shall be deemed given on the date of
the first attempted delivery (whether or not actually received). Either the Lender or the Borrower may change the address for Notice
by giving at least fifteen Business Days’ prior Notice of such change to the other party or parties.

		8.3	No Partnership

Nothing contained in the Loan Documents
is intended to create any partnership, joint venture or association between the Borrowers and the Lender, or in any way make the
Lender a co-principal with one, any or all of the Borrowers with reference to the Real Property.

		8.4	Successors and Assigns

The terms, covenants, conditions and warranties
contained herein and the powers granted hereby shall run with the land, shall inure to the benefit of and bind the parties hereto
and their respective heirs, executors, administrators, successors and assigns, and all tenants, sub-tenants and assigns of same,
and all occupants and subsequent owners of the Real Property.

		8.5	Severability

In the event that any one or more of the
provisions of this Agreement shall for any reason be held to be invalid, illegal or unenforceable, in whole or in part, or in any
respect, or in the event that any one or more of the provisions of this Agreement shall operate, or would prospectively operate,
to invalidate this Agreement, then, and in any such event, such provision or provisions only shall be deemed to be null and void
and of no force or effect, and shall not affect any other provision of this Agreement which other provisions shall remain operative
and in full force and effect and shall in no way be affected, prejudiced or disturbed thereby.

		8.6	Amendment

This Agreement may be amended, revised,
waived, discharged, released or terminated only by a written instrument or instruments executed by the party against which enforcement
of the amendment, revision, waiver, discharge, release or termination is asserted. Any alleged amendment, revision, waiver, discharge,
release or termination that is not so documented shall be null and void.

		8.7	Sole Benefit

This Agreement and the other Loan Documents
have been executed for the sole benefit of the Borrowers and the Lender. No other party shall have rights thereunder or be entitled
to assume that the parties thereto will insist upon strict performance of their mutual obligations hereunder,

    11 

Loan Agreement
Plymouth Chicago Portfolio, Alsip, Bedford Park, Elk Grove, Des Plaines, Arlington Heights, Elgin, Lake Forest, Gurnee and Freeport. Illinois and Oak Creek and Milwaukee, Wisconsin
 AEGON Loan Nos. 10518144, 10518145, 10518146, 10518147, 10518148, 10518149, 10518150, 10518151, 10518152, 10518153, 10518154, 10518155, 10518156, 10518157, 10518158, 10518159, 10518160 and 10518161

     

    

any of which may be waived from time to
time. Neither any Borrower nor any other Obligor shall have any right to assign any of its rights under this Agreement or the Loan
Documents to any party whatsoever.

		8.8	Interpretation

		(a)	Headings and General Application

The section, subsection, paragraph and subparagraph
headings of this Agreement are provided for convenience of reference only and shall in no way affect, modify or define, or be used
in construing, the text of the sections, subsections, paragraphs or subparagraphs. If the text requires, words used in the singular
shall be read as including the plural, and pronouns of any gender shall include all genders.

		(b)	Sole Discretion

The Lender may take any action or decide
any matter under the terms of this Agreement or of any other Loan Document (including any consent, approval, acceptance, option,
election or authorization) in its sole and absolute discretion, for any reason or for no reason, unless the related Loan Document
contains specific language to the contrary. Any approval or consent which the Lender might withhold may be conditioned in any way.

		(c)	Result of Negotiations

This Agreement results from negotiations
between the Borrowers and the Lender and from their mutual efforts. Therefore, it shall be so construed, and not as though it had
been prepared solely by the Lender.

		(d)	Reference to Particulars

The scope of a general statement made in
this Agreement or in any other Loan Document shall not be construed as having been reduced through the inclusion of references
to particular items that would be included within the statement’s scope. Therefore, unless the relevant provision of a Loan
Document contains specific language to the contrary, the term “include” shall mean “include, but shall not be
limited to” and the term “including” shall mean “including, without limitation.”

		8.9	Counterparts

This Agreement may be executed in one or
more counterparts, each of which shall be deemed an original but all of which taken together shall constitute one and the same
agreement.

		8.10	Adjustment of Obligations

If any Borrower’s obligation to pay
the Indebtedness becomes subject to avoidance under any fraudulent transfer law, including Section 548 of Title 11 of the United
States Code or any applicable provisions of comparable laws of the State of Delaware, the State of Illinois or the State of Wisconsin,
then the Indebtedness for which such Borrower will be liable and the amount of the Indebtedness for which its Parcel will constitute
security will be limited to the largest amount that would not be subject to avoidance as a fraudulent transfer or conveyance under
such fraudulent transfer laws. Further, at any time at the Lender’s sole option, the Lender may record among the applicable
land records a complete or partial termination of any Mortgage evidencing the Lender’s election to treat such Mortgage as
null and void with respect to one or more or all of the Parcels (a “Terminated Parcel”). Each Borrower, at the
Lender’s request, must join in any such termination or partial termination, and each Borrower hereby irrevocably appoints
the

    12 

Loan Agreement
Plymouth Chicago Portfolio, Alsip, Bedford Park, Elk Grove, Des Plaines, Arlington Heights, Elgin, Lake Forest, Gurnee and Freeport. Illinois and Oak Creek and Milwaukee, Wisconsin
 AEGON Loan Nos. 10518144, 10518145, 10518146, 10518147, 10518148, 10518149, 10518150, 10518151, 10518152, 10518153, 10518154, 10518155, 10518156, 10518157, 10518158, 10518159, 10518160 and 10518161

     

    

Lender as such Borrower’s agent and
attorney-in-fact to execute, deliver and record such termination or partial termination in such Borrower’s name. Following
any such termination or partial termination, the Lender may enforce any Mortgage in accordance with its respective terms as if
the Mortgage had never been executed and delivered as to any Terminated Parcel.

THE REMAINDER OF THIS PAGE
HAS INTENTIONALLY BEEN LEFT BLANK

    13 

Loan Agreement
Plymouth Chicago Portfolio, Alsip, Bedford Park, Elk Grove, Des Plaines, Arlington Heights, Elgin, Lake Forest, Gurnee and Freeport. Illinois and Oak Creek and Milwaukee, Wisconsin
 AEGON Loan Nos. 10518144, 10518145, 10518146, 10518147, 10518148, 10518149, 10518150, 10518151, 10518152, 10518153, 10518154, 10518155, 10518156, 10518157, 10518158, 10518159, 10518160 and 10518161

     

    

IN WITNESS WHEREOF, the parties have caused this
Agreement to be duly executed as of the date first above written.

 

LENDER:

TRANSAMERICA LIFE INSURANCE COMPANY, an
Iowa corporation

 

 

	 	By:	/s/ Stephen Noonan
	 	 	Name: Stephen Noonan
	 	 	Title: Authorized Signatory

 

 

[SIGNATURES
CONTINUE ON THE FOLLOWING PAGE]

    

Loan Agreement
Plymouth Chicago Portfolio, Alsip, Bedford Park, Elk Grove, Des Plaines, Arlington Heights, Elgin, Lake Forest, Gurnee and Freeport. Illinois and Oak Creek and Milwaukee, Wisconsin
 AEGON Loan Nos. 10518144, 10518145, 10518146, 10518147, 10518148, 10518149, 10518150, 10518151, 10518152, 10518153, 10518154, 10518155, 10518156, 10518157, 10518158, 10518159, 10518160 and 10518161

     

    

BORROWERS:

PLYMOUTH 3 WEST COLLEGE LLC, a Delaware
limited liability company

By:       PLYMOUTH
INDUSTRIAL OP, LP, a Delaware limited partnership, its manager

By:       PLYMOUTH
INDUSTRIAL REIT, INC., a Maryland corporation, its general partner

 

By:       /s/
Pendleton P. White, Jr.              

Name: Pendleton P. White, Jr.

Title: President

 

PLYMOUTH 1600 FLEETWOOD LLC, a Delaware
limited liability company

By:       PLYMOUTH
INDUSTRIAL OP, LP, a Delaware limited partnership, its manager

By:       PLYMOUTH
INDUSTRIAL REIT, INC., a Maryland corporation, its general partner

 

By:       /s/
Pendleton P. White, Jr.              

Name: Pendleton P. White, Jr.

Title: President

 

PLYMOUTH SOUTH MCLEAN LLC, a Delaware limited
liability company

By:       PLYMOUTH
INDUSTRIAL OP, LP, a Delaware limited partnership, its manager

By:       PLYMOUTH
INDUSTRIAL REIT, INC., a Maryland corporation, its general partner

 

By:       /s/
Pendleton P. White, Jr.              

Name: Pendleton P. White, Jr.

Title: President

 

[SIGNATURES
CONTINUE ON THE FOLLOWING PAGE]

    

Loan Agreement
Plymouth Chicago Portfolio, Alsip, Bedford Park, Elk Grove, Des Plaines, Arlington Heights, Elgin, Lake Forest, Gurnee and Freeport. Illinois and Oak Creek and Milwaukee, Wisconsin
 AEGON Loan Nos. 10518144, 10518145, 10518146, 10518147, 10518148, 10518149, 10518150, 10518151, 10518152, 10518153, 10518154, 10518155, 10518156, 10518157, 10518158, 10518159, 10518160 and 10518161

     

    

PLYMOUTH MWG 13040 SOUTH PULASKI LLC, a
Delaware limited liability company

By:       PLYMOUTH
MWG HOLDINGS LLC, a Delaware limited liability company, its manager

By:       PLYMOUTH
INDUSTRIAL OP, LP, a Delaware limited partnership, its manager

By:       PLYMOUTH
INDUSTRIAL REIT, INC., a Maryland corporation, its general partner

 

By:       /s/
Pendleton P. White, Jr.       

Name: Pendleton P. White, Jr.

Title: President

 

PLYMOUTH MWG 11601 SOUTH CENTRAL LLC, a
Delaware limited liability company

By:       PLYMOUTH
MWG HOLDINGS LLC, a Delaware limited liability company, its manager

By:       PLYMOUTH
INDUSTRIAL OP, LP, a Delaware limited partnership, its manager

By:       PLYMOUTH
INDUSTRIAL REIT, INC., a Maryland corporation, its general partner

 

By:       /s/
Pendleton P. White, Jr.       

Name: Pendleton P. White, Jr.

Title: President

 

PLYMOUTH MWG 6000 WEST 73RD LLC, a Delaware
limited liability company

By:       PLYMOUTH
MWG HOLDINGS LLC, a Delaware limited liability company, its manager

By:       PLYMOUTH
INDUSTRIAL OP, LP, a Delaware limited partnership, its manager

By:       PLYMOUTH
INDUSTRIAL REIT, INC., a Maryland corporation, its general partner

 

By:       /s/
Pendleton P. White, Jr.       

Name: Pendleton P. White, Jr.

Title: President

 

    

Loan Agreement
Plymouth Chicago Portfolio, Alsip, Bedford Park, Elk Grove, Des Plaines, Arlington Heights, Elgin, Lake Forest, Gurnee and Freeport. Illinois and Oak Creek and Milwaukee, Wisconsin
 AEGON Loan Nos. 10518144, 10518145, 10518146, 10518147, 10518148, 10518149, 10518150, 10518151, 10518152, 10518153, 10518154, 10518155, 10518156, 10518157, 10518158, 10518159, 10518160 and 10518161

     

    

[SIGNATURES
CONTINUE ON THE FOLLOWING PAGE]

 

PLYMOUTH MWG 6510 WEST 73RD LLC, a Delaware
limited liability company

By:       PLYMOUTH
MWG HOLDINGS LLC, a Delaware limited liability company, its manager

By:       PLYMOUTH
INDUSTRIAL OP, LP, a Delaware limited partnership, its manager

By:       PLYMOUTH
INDUSTRIAL REIT, INC., a Maryland corporation, its general partner

 

By:       /s/
Pendleton P. White, Jr.       

Name: Pendleton P. White, Jr.

Title: President

 

PLYMOUTH MWG 6558 WEST 73RD LLC, a Delaware
limited liability company

By:       PLYMOUTH
MWG HOLDINGS LLC, a Delaware limited liability company, its manager

By:       PLYMOUTH
INDUSTRIAL OP, LP, a Delaware limited partnership, its manager

By:       PLYMOUTH
INDUSTRIAL REIT, INC., a Maryland corporation, its general partner

 

By:       /s/
Pendleton P. White, Jr.       

Name: Pendleton P. White, Jr.

Title: President

PLYMOUTH MWG 6751 SOUTH SAYRE LLC, a Delaware
limited liability company

By:       PLYMOUTH
MWG HOLDINGS LLC, a Delaware limited liability company, its manager

By:       PLYMOUTH
INDUSTRIAL OP, LP, a Delaware limited partnership, its manager

By:       PLYMOUTH
INDUSTRIAL REIT, INC., a Maryland corporation, its general partner

 

By:       /s/
Pendleton P. White, Jr.       

Name: Pendleton P. White, Jr.

Title: President

 

    

Loan Agreement
Plymouth Chicago Portfolio, Alsip, Bedford Park, Elk Grove, Des Plaines, Arlington Heights, Elgin, Lake Forest, Gurnee and Freeport. Illinois and Oak Creek and Milwaukee, Wisconsin
 AEGON Loan Nos. 10518144, 10518145, 10518146, 10518147, 10518148, 10518149, 10518150, 10518151, 10518152, 10518153, 10518154, 10518155, 10518156, 10518157, 10518158, 10518159, 10518160 and 10518161

     

    

[SIGNATURES
CONTINUE ON THE FOLLOWING PAGE]

 

    

Loan Agreement
Plymouth Chicago Portfolio, Alsip, Bedford Park, Elk Grove, Des Plaines, Arlington Heights, Elgin, Lake Forest, Gurnee and Freeport. Illinois and Oak Creek and Milwaukee, Wisconsin
 AEGON Loan Nos. 10518144, 10518145, 10518146, 10518147, 10518148, 10518149, 10518150, 10518151, 10518152, 10518153, 10518154, 10518155, 10518156, 10518157, 10518158, 10518159, 10518160 and 10518161

     

    

PLYMOUTH MWG 7200 SOUTH MASON LLC, a Delaware
limited liability company

		By:	PLYMOUTH MWG HOLDINGS LLC, a Delaware limited liability company, its manager

		By:	PLYMOUTH INDUSTRIAL OP, LP, a Delaware limited partnership, its manager

		By:	PLYMOUTH INDUSTRIAL REIT, INC., a Maryland corporation, its general partner

 

		By:	/s/ Pendleton P. White, Jr.       

Name: Pendleton P. White, Jr.

Title: President

 

PLYMOUTH MWG 1445 GREENLEAF LLC, a Delaware
limited liability company

		By:	PLYMOUTH MWG HOLDINGS LLC, a Delaware limited liability company, its manager

		By:	PLYMOUTH INDUSTRIAL OP, LP, a Delaware limited partnership, its manager

		By:	PLYMOUTH INDUSTRIAL REIT, INC., a Maryland corporation, its general partner

 

		By:	/s/ Pendleton P. White, Jr.       

Name: Pendleton P. White, Jr.

Title: President

 

PLYMOUTH MWG 1796 SHERWIN LLC, a Delaware
limited liability company

		By:	PLYMOUTH MWG HOLDINGS LLC, a Delaware limited liability company, its manager

		By:	PLYMOUTH INDUSTRIAL OP, LP, a Delaware limited partnership, its manager

		By:	PLYMOUTH INDUSTRIAL REIT, INC., a Maryland corporation, its general partner

 

		By:	/s/ Pendleton P. White, Jr.       

Name: Pendleton P. White, Jr.

Title: President

 

[SIGNATURES
CONTINUE ON THE FOLLOWING PAGE]

    

Loan Agreement
Plymouth Chicago Portfolio, Alsip, Bedford Park, Elk Grove, Des Plaines, Arlington Heights, Elgin, Lake Forest, Gurnee and Freeport. Illinois and Oak Creek and Milwaukee, Wisconsin
 AEGON Loan Nos. 10518144, 10518145, 10518146, 10518147, 10518148, 10518149, 10518150, 10518151, 10518152, 10518153, 10518154, 10518155, 10518156, 10518157, 10518158, 10518159, 10518160 and 10518161

     

    

PLYMOUTH MWG 28160 NORTH KEITH LLC, a Delaware
limited liability company

		By:	PLYMOUTH MWG HOLDINGS LLC, a Delaware limited liability company, its manager

		By:	PLYMOUTH INDUSTRIAL OP, LP, a Delaware limited partnership, its manager

		By:	PLYMOUTH INDUSTRIAL REIT, INC., a Maryland corporation, its general partner

 

		By:	/s/ Pendleton P. White, Jr.       

Name: Pendleton P. White, Jr.

Title: President

 

PLYMOUTH MWG 13970 WEST LAUREL LLC, a Delaware
limited liability company

		By:	PLYMOUTH MWG HOLDINGS LLC, a Delaware limited liability company, its manager

		By:	PLYMOUTH INDUSTRIAL OP, LP, a Delaware limited partnership, its manager

		By:	PLYMOUTH INDUSTRIAL REIT, INC., a Maryland corporation, its general partner

 

		By:	/s/ Pendleton P. White, Jr.       

Name: Pendleton P. White, Jr.

Title: President

 

PLYMOUTH MWG 3841 SWANSON LLC, a Delaware
limited liability company

		By:	PLYMOUTH MWG HOLDINGS LLC, a Delaware limited liability company, its manager

		By:	PLYMOUTH INDUSTRIAL OP, LP, a Delaware limited partnership, its manager

		By:	PLYMOUTH INDUSTRIAL REIT, INC., a Maryland corporation, its general partner

 

		By:	/s/ Pendleton P. White, Jr.       

Name: Pendleton P. White, Jr.

Title: President

 

[SIGNATURES
CONTINUE ON THE FOLLOWING PAGE]

    

Loan Agreement
Plymouth Chicago Portfolio, Alsip, Bedford Park, Elk Grove, Des Plaines, Arlington Heights, Elgin, Lake Forest, Gurnee and Freeport. Illinois and Oak Creek and Milwaukee, Wisconsin
 AEGON Loan Nos. 10518144, 10518145, 10518146, 10518147, 10518148, 10518149, 10518150, 10518151, 10518152, 10518153, 10518154, 10518155, 10518156, 10518157, 10518158, 10518159, 10518160 and 10518161

     

    

PLYMOUTH MWG 525 WEST MARQUETTE LLC, a
Delaware limited liability company

		By:	PLYMOUTH MWG HOLDINGS LLC, a Delaware limited liability company, its manager

		By:	PLYMOUTH INDUSTRIAL OP, LP, a Delaware limited partnership, its manager

		By:	PLYMOUTH INDUSTRIAL REIT, INC., a Maryland corporation, its general partner

 

		By:	/s/ Pendleton P. White, Jr.       

Name: Pendleton P. White, Jr.

Title: President

 

PLYMOUTH MWG 5110 SOUTH 6TH LLC, a Delaware
limited liability company

		By:	PLYMOUTH MWG HOLDINGS LLC, a Delaware limited liability company, its manager

		By:	PLYMOUTH INDUSTRIAL OP, LP, a Delaware limited partnership, its manager

		By:	PLYMOUTH INDUSTRIAL REIT, INC., a Maryland corporation, its general partner

 

		By:	/s/ Pendleton P. White, Jr.       

Name: Pendleton P. White, Jr.

Title: President

PLYMOUTH MWG 1750 SOUTH LINCOLN LLC, a
Delaware limited liability company

		By:	PLYMOUTH MWG HOLDINGS LLC, a Delaware limited liability company, its manager

		By:	PLYMOUTH INDUSTRIAL OP, LP, a Delaware limited partnership, its manager

		By:	PLYMOUTH INDUSTRIAL REIT, INC., a Maryland corporation, its general partner

 

		By:	/s/ Pendleton P. White, Jr.       

Name: Pendleton P. White, Jr.

Title: President

    

Loan Agreement
Plymouth Chicago Portfolio, Alsip, Bedford Park, Elk Grove, Des Plaines, Arlington Heights, Elgin, Lake Forest, Gurnee and Freeport. Illinois and Oak Creek and Milwaukee, Wisconsin
 AEGON Loan Nos. 10518144, 10518145, 10518146, 10518147, 10518148, 10518149, 10518150, 10518151, 10518152, 10518153, 10518154, 10518155, 10518156, 10518157, 10518158, 10518159, 10518160 and 10518161

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00285-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00285-of-00352.parquet"}]]