Document:

Exhibit
10.2

 

VH
Willows Townhomes, LLC

$2,985,000.00

January
28, 2022

 

COMMERCIAL
PROMISSORY NOTE

 

FOR
VALUE RECEIVED, the undersigned, VH Willows Townhomes, LLC a Delaware Limited Liability Company having an address at 2493
NE Laurel Court, Issaquah, WA 98029 (the “Maker”), promises to pay to the order of Lima One Capital, LLC, a Georgia
Limited Liability Company at its principal place of business at 201 East McBee Avenue Suite 300, Greenville, SC, 29601 (“Lender”),
or to the order of such other payee or at such other place as may be later designated by Lender or any subsequent holder hereof, the
principal amount two million nine hundred and eighty-five thousand and 00/100 ($2,985,000.00) principal amount of this Note, together
with applicable accrued interest on any such; together with all taxes assessed upon this Note; and together with any costs, expenses
and reasonable attorneys’ fees incurred in the collection of this Note or in protecting, maintaining or enforcing its security
interest or any security instrument securing this Note, or upon any litigation or controversy affecting this Note or the security given
therefor, including, without limitation, proceedings under the Federal Bankruptcy Code.

 

 1. Payments. Principal and interest hereunder shall be payable as follows:

 

a. Interim
interest on this Note shall accrue at the rate of seven and fifty hundredths of a percent (7.500% ) per annum on the principal
amount of this Note for the period from the date hereof to and including 31st day of January, 2022, said interest being due and
payable at the closing of the loan. Said interest will be calculated on the basis of a 360-day year by the actual number of days still
to elapse during this calendar month of origination.

 

b. The
rate of interest of this Note shall be fixed at seven and fifty hundredths of a percent (7.500% ) per annum on the principal amount
of this Note, which shall remain effective until any Event of Default (as defined herein below). Except as otherwise provided in the
above Section 1(a) in regards to interim interest, interest for each and every monthly payment during the term of this Note will be calculated
on the basis of a 360-day year consisting of twelve months of thirty days each (“30/360 Basis”).

 

c. Beginning
on March 10, 2022, and continuing on the tenth day of each and every month thereafter through and including the payment due on
February 10, 2023, Maker is required hereunder to make monthly payments of interest only, in arrears, up to the amount of eighteen
thousand six hundred and fifty-six and 25/100 Dollars ($18,656.25), or in accordance with the calculation parameters set forth in
the above Section 1(b).

 

d. If
not sooner paid, the entire principal amount of this Note, together with outstanding accrued interest and with all other sums due hereunder,
shall be due and payable in full on March 1, 2023 (the “Maturity Date”). It is understood and agreed by Maker that
if sufficient prepayments of principal have not been made, a balloon payment of principal will be due on the Maturity Date.

 

e. All
payments received will be credited first to any costs, fees or charges hereunder, then to interest accrued at the applicable interest
rate as set forth herein, with the balance on account of principal.

 

2. Advances.
All advances made hereunder will be made in accordance with the terms of the Loan Agreement of even date herewith.

 

3. Security.
This Note is secured by a first priority Deed of Trust, Securing Future Advances, or similar security instrument, (the “Deed
of Trust”) on that certain piece or parcel of real property described in SCHEDULE A, and being more specifically described
in said Deed of Trust.

 

    	 

    	 

    

 

4. Default.
If any of the following events occur (which is an “Event of Default”), Lender, and subsequent holder hereof, may declare
the entire outstanding principal balance hereof, together with any other amounts that Maker owes to Lender, to be immediately due and
payable:

 

a. Maker
fails to pay any installment of principal and/or interest or any other charges due under this Note within ten (10) days after
the same becomes due and payable;

 

b. Maker
defaults in any other obligations, liabilities or indebtedness with Lender, and subsequent holder hereof (whether now existing or hereafter
arising);

 

c. Maker
sells, leases or otherwise disposes of all or substantially all of its property, assets or business, or if Maker ceases any of its business
operations, dissolves or commences reorganization;

 

d. Maker
makes or takes any action to make a general assignment for the benefit of its creditors or becomes insolvent or has a receiver, custodian,
trustee in Bankruptcy or conservator appointed for it or for substantially all or any of its assets;

 

e. Maker
files or becomes the subject of a petition in Bankruptcy or upon the commencement of any proceeding or action under any Bankruptcy laws,
insolvency laws, relief of debtors laws or any other similar law affecting Maker, provided, however, that Maker shall have sixty (60)
days from the filing of any involuntary petition in Bankruptcy to have the same discharged and dismissed;

 

f. At
no time shall the interest rate exceed the maximum rate permitted by the usury statutes governing this Note, if any. If, by application
of the above interest rate formula, the interest rate would exceed and violate such usury statutes, interest shall accrue at the maximum
rate permitted by law;

 

g. Upon
the failure by Maker to observe or perform, or upon default in, any covenants, agreements or provisions in the Deed of Trust,
Loan Agreement or in any other instrument, document or agreement, executed and/or delivered in connection herewith or therewith;

 

h. If
any representation or statement made herein or any other representation or statement made or furnished to Lender, or subsequent holder
hereof, by Maker is determined, in the sole reasonable discretion of Lender, or subsequent holder hereof, to be materially incorrect
or misleading at the time it was made or furnished;

 

i. In
the event of any material adverse change in the financial condition of Maker or any guarantor, surety or endorser of this Note; or

 

 j. Upon the death of any guarantor, surety or endorser of this Note.

 

5. Default
Rate. After the occurrence of an Event of Default, interest will accrue at the lesser of (i) eighteen percent (18%) per annum (the
“Default Rate”) or (ii) the Maximum Rate (as set forth herein below). Interest will continue to accrue at the Default Rate
/ Maximum Rate until all defaults are cured to the reasonable satisfaction of Lender, or subsequent holder hereof, and/or this Note is
paid in full.

 

6. Extension
Option. Upon Maker’s request, Lender shall have the option to extend the Loan Maturity Date two times, each for a three (3)-month
period (such option, the “Extension Option”) on written irrevocable notice to Lender given not earlier than 90, but not prior
to 45 days, before the then Loan Maturity Date (such notice, the “Extension Option Notice”); provided the following conditions
are satisfied (1) no Event of Default (whether or not the Loan has been accelerated) and no event which with the passage of time and/or
the giving of notice would constitute a default hereunder or under any other Loan Documents shall have occurred, (2) each representation
and warranty set forth in the Loan Documents shall continue to be true and correct as if then made, (3) unless waived by Lender a new
appraisal of the Mortgaged Properties indicated an “as is” Loan to Value of less than 75% (the “Option LTV”)
and (4) Maker includes 1% of the Loan amount (the “Extension Fee) as an extension fee to Lender for each Extension Option in immediate
available funds plus all appraisal and other Lender’s documented costs (collectively, the “Extension Costs”) together
with each Extension Option Notice. Maker acknowledges and agrees that the Extension Option Notice will not be effective unless Lender
(i) simultaneously receives the Extension Fee together with the Extension Costs or (ii) defers the payment of the Extension Fee until
the Loan Maturity. Notwithstanding anything else contained herein to the contrary, the Extension Fee shall be reduced to 0.5% of the
Loan Amount if the Loan is repaid fully during the period not to exceed thirty (30) days from the initial Maturity Date.

 

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7. Prepayment.
Provided that Maker is not in default hereunder, Maker may prepay all or any portion of the unpaid principal balance of this Note
at any time without penalty. All prepayment shall be applied first to any costs, fees or charges due hereunder, then to interest due
and owing hereunder and then to principal then outstanding, in inverse order of maturity.

 

8. Late
Charge. It is further agreed that the holder hereof may collect a “Late Charge” equal to five percent (5% ) of
any past due payment required hereunder, including the final payment, or required under the Deed of Trust or any other instrument,
document or agreement executed and/or delivered in connection herewith that is not paid within ten (10) days of the due date thereof.
Maker agrees to pay any Late Charges promptly. This Late Charge is to cover the extra expenses involved in handling delinquent payments
and is not to be construed to cover other costs and attorneys’ fees incurred in any action to collect this Note or to foreclose
the Deed of Trust securing the same. This provision shall not affect or limit the holder’s rights or remedies with respect
to any Event of Default.

 

9. Exit
Fee. Borrower shall pay a fee to Lender equal to 1.5% of the principal amount of the Loan (the “Exit Fee”) upon satisfaction
of the Loan if the Loan is satisfied after the Maturity Date and the Extension Option has not been exercised.

 

 10. [SECTION PURPOSEFULLY LEFT BLANK]

 

11. Lien/Set
Off. Maker hereby gives Lender, and subsequent holder hereof, a lien and right of set off for all of Maker’s liabilities to
Lender, and subsequent holder hereof, upon and against all deposits, credits and other property of Maker now or hereafter in the possession
or control of Lender, and subsequent holder hereof, or in transit to it, excepting however, funds held in trust by Maker. All payments
shall be made in lawful currency of the United States of America in immediately available funds, without abatement, counterclaim or set-off,
and free and clear of, and without any deduction or withholding for, any taxes or other matters.

 

12. Purpose
of Loan. Maker represents and warrants that the proceeds of this Note are to be used solely for business and commercial purposes
and not at all for any personal, family, household or other noncommercial or farming or agricultural purposes. Maker acknowledges that
Lender is making this loan to Maker in reliance upon the above representation by Maker. The above representation by Maker will survive
the closing of this loan and repayment of amounts due hereunder to Lender, or subsequent holder hereof.

 

13. Other
Obligations. To the extent that the outstanding balance of this Note is reduced or paid in full by reason of any payment to Lender,
or subsequent holder hereof, by an accommodation maker, guarantor, surety or endorser and all or any part of such payment is rescinded,
avoided or recovered from Lender, or subsequent holder hereof, for any reason whatsoever, including, without limitation, any proceedings
in connection with the insolvency, bankruptcy or reorganization of the accommodation maker, guarantor, surety or endorser, the amount
of such rescinded, avoided or returned payment shall be added to or, in the event this Note has been previously paid in full, shall revive
the principal balance of this Note upon which interest may be charged at the applicable rate set forth in this Note and shall be considered
part of the outstanding balance of this Note and all terms and provisions herein shall thereafter apply to the same.

 

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14. Waiver.
MAKER (AND EACH AND EVERY GUARANTOR, SURETY AND ENDORSER OF THIS NOTE) ACKNOWLEDGES THAT THE LOAN EVIDENCED BY THIS NOTE IS A COMMERCIAL
TRANSACTION, AND HEREBY VOLUNTARILY AND KNOWINGLY WAIVES THE RIGHT TO NOTICE AND HEARING UNDER APPLICABLE SOUTH CAROLINA GENERAL STATUTES,
OR ANY SUCCESSOR STATUTE OF SIMILAR IMPORT, WITH RESPECT TO ANY PREJUDGMENT REMEDY AS DEFINED THEREIN, AND FURTHER WAIVES DILIGENCE,
DEMAND, PRESENTMENT FOR PAYMENT, NOTICE OF NONPAYMENT, PROTEST AND NOTICE OF PROTEST AND NOTICE OF ANY RENEWALS OR EXTENSIONS OF THIS
NOTE, AND ALL RIGHTS UNDER ANY STATUTE OF LIMITATIONS, AND AGREES THAT THE TIME FOR PAYMENT OF THIS NOTE MAY BE CHANGED AND EXTENDED
AS PROVIDED IN THE Deed of Trust OR ANY SECURITY AGREEMENT, WITHOUT IMPAIRING MAKER’S LIABILITY THEREON, AND FURTHER CONSENTS
TO THE RELEASE OF ALL OR ANY PART OF THE SECURITY FOR THE PAYMENT HEREOF, OR THE RELEASE OF ANY PARTY LIABLE FOR THIS OBLIGATION WITHOUT
AFFECTING THE LIABILITY OF THE OTHER PARTIES HERETO. ANY DELAY ON THE PART OF THE HOLDER HEREOF IN EXERCISING ANY RIGHT HEREUNDER SHALL
NOT OPERATE AS A WAIVER OF ANY SUCH RIGHT, AND ANY WAIVER GRANTED FOR ONE OCCASION SHALL NOT OPERATE AS A WAIVER IN THE EVENT OF ANY
SUBSEQUENT DEFAULT. MAKER FURTHER WAIVES TRIAL BY JURY AND ACKNOWLEDGES THAT IT MAKES THIS WAIVER KNOWINGLY, VOLUNTARILY, AND ONLY AFTER
CONSIDERATION OF THE RAMIFICATIONS OF THE WAIVER BY ITS ATTORNEY.

 

15. Binding
Effect. This Note shall be binding on Maker, its successors and assigns and shall inure to the benefit of Lender, any subsequent
holder hereof, its successors and assigns.

 

16. Governing
Law. This Note shall be governed by, and construed in accordance with, the laws of the State of South Carolina. The Maker acknowledges
and agrees that the transaction evidenced by this Note was negotiated and accepted in the State of South Carolina and the performance
of the obligations hereunder shall be deemed to be performed in the State of South Carolina.

 

17. Joint
and Several Liability. Should this Note be signed by more than one Maker, references in this Note to Maker in the singular shall
include the plural and all obligations herein contained shall be joint and several of each signer hereof. Any person or entity who is
a guarantor, surety or endorser of this Note is also obligated to keep all promises made in this Note. Any person or entity who takes
over these obligations, including the obligations of a guarantor, surety or endorser of this Note, is also obligated to keep all of the
promises made in this Note. This Agreement may be executed in multiple counterparts, each of which shall be deemed an original, and all
such counterparts together shall constitute one and the same instrument.

 

18. Maximum
Rate. Notwithstanding anything to the contrary contained herein, under no circumstances shall the aggregate amount paid or agreed
to be paid hereunder exceed the highest lawful rate permitted under applicable usury law (the “Maximum Rate”) and the payment
obligations of Maker under this Note are hereby limited accordingly. If, under any circumstances, whether by reason of advancement or
acceleration of the maturity of the unpaid principal balance hereof or otherwise, the aggregate amounts paid on this Note shall include
amounts which by law are deemed interest and which would exceed the Maximum Rate, Maker stipulates that payment and collection of such
excess amounts shall have been and will be deemed to have been the result of a mistake on the part of both Maker and Lender, or subsequent
holder hereof, and the party receiving such excess payments shall promptly credit such excess (to the extent only of such payments in
excess of the Maximum Rate) against the unpaid principal balance hereof and any portion of such excess payments not capable of being
so credited shall be refunded to Maker.

 

19. Rights
Cumulative. The rights and remedies of Lender, and subsequent holder hereof, shall be cumulative and not in the alternative, and
shall include all rights and remedies granted herein, in any document referred to herein or executed and/or delivered in connection herewith,
and under all applicable laws, and the exercise of any one or more of them will not be a waiver of any other.

 

20. Severability.
If any term, clause or provision hereof shall be adjudged to be invalid or unenforceable by a court of appropriate jurisdiction,
the validity and enforceability of the remainder this Note shall not affected thereby and each such term, clause, or provision shall
be valid and enforceable to the fullest extent permitted by law.

 

[Signatures
Commence on the Next Page]

 

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IN
WITNESS WHEREOF, the undersigned have executed this Commercial Non-Revolving Line of Credit Promissory Note as of January 28, 2022.

 

VH
Willows Townhomes, LLC, a Delaware limited liability company

by
iCap Vault Management, LLC, a Delaware limited liability company, Manager

by
iCap Enterprises, Inc., a Washington corporation, Manager 

 

	 	By:	/s/
    Christopher Christensen	 	Date:
    1/28/22
	 	 	Christopher
    Christensen, Chief Executive Officer	 	 

 

	State
    of	Washington
	 
	 	 	 
	County
    of	King
	 

 

On
this, the 28th of January 2022, before me, the undersigned, personally appeared, Christopher Christensen, Chief Executive
Officer of iCap Enterprises, Inc. Manager of iCap Vault Management, LLC Manager of VH Willows Townhomes, LLC known to me, or satisfactorily
proven to be the person whose name subscribed to the within instrument, and acknowledged that they executed the same for the purposes
therein contained.

 

In
witness whereof, I hereunto set my hand and official seals.

 

	 	 	/s/
                                            Constance Crothers

	 	 	Notary
    Public
	 	[SEAL]	Constance
                                            Crothers

	 	 	Print
    Name
	 	 	12-31-24

	 	 	My
    Commission Expires

 

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SCHEDULE
A

PROPERTY DESCRIPTION

 

Property
address commonly known as: 4906A South Willow Street, Seattle, WA 98118, 4910B South Willow Street, Seattle, WA 98118, 4921B South Willow
Street, Seattle, WA 98118, 4918C South Willow Street, Seattle, WA 98118, 4922A South Willow Street, Seattle, WA 98118, and 4922B South
Willow Street, Seattle, WA 98118Exhibit
10.3

 

VH
1121 14th, LLC

$3,000,000.00

January
28, 2022

 

LOAN
AGREEMENT

 

This
Loan Agreement (the “Agreement”), made as of January 28, 2022 by and between Lima One Capital, LLC, a Georgia
Limited Liability Company at its principal place of business at 201 East McBee Avenue Suite 300, Greenville, SC 29601 (“Lender”)
and VH 1121 14th, LLC a Delaware Limited Liability Company having an office at 1675 South State Street, Dover, DE 19901
(“Borrower”).

 

WITNESSETH

 

WHEREAS,
Borrower has requested that Lender make a loan to Borrower in the amount of three million and 00/100 Dollars ($3,000,000.00) (the
“Loan”), subject to and upon the terms and conditions hereinafter contained, which is evidenced by the Commercial Promissory
Note made by Borrower in favor of Lender dated January 28, 2022 (as same may be amended, restated, or modified from time to time,
the “Note”), secured by that certain Open-End Commercial Deed of Trust, Security Agreement, and Fixture Filing (the
“Deed of Trust”) made by Borrower in favor of Lender and which Mortgages encumbers the premises described on the Schedule
A (the “Mortgaged Property”), and guaranteed by Christopher Christensen, ICAP Vault Management, LLC, and ICAP Enterprises
(the “Guarantor”) in that certain Commercial Guaranty (the “Guaranty”) (this Agreement, the Note, the Deed
of Trust, the Guaranty, and any other documents or agreements given to Lender by Borrower or any guarantor in connection with the
Loan whether or not specifically set forth herein, as each may be amended, restated or modified from time to time, may hereinafter be
collectively referred to as the “Loan Documents”); and

 

WHEREAS,
Lender has agreed to make the Loan to Borrower on the terms and conditions hereinafter set forth. NOW, THEREFORE, in consideration of
the foregoing and of the covenants and conditions hereinafter set forth, Borrower and Lender hereby agree as follows:

 

ARTICLE
1: THE LOAN

 

		1.01	
                                                                                                                                                                                                                                               Loan.

 

(a) Subject
to all terms and conditions of this Agreement, Lender may advance to Borrower and Borrower may borrow from Lender, from time to time,
up to three million and 00/100 Dollars ($3,000,000.00) (“Loan”). Said three million and 00/100 Dollars ($3,000,000.00)
is also sometimes referred to herein as the “Maximum Principal Amount”.

 

(b) The
Loan shall be evidenced by the Note, and shall be referred to as the ‘Obligations.” The aggregate of such advances under
the Loan shall not exceed said Maximum Principal Amount.

 

(c) Subject
to a final closing statement prepared by Lender’s counsel and executed by

 

Borrower
(the “Closing Statement”), the Loan proceeds shall be disbursed as follows:

 

(1) The
sum of fifteen thousand and 00/100 Dollars ($15,000.00) shall be disbursed on behalf of Borrower and simultaneously paid to Lender
as a fully earned, non-refundable fee (the “Fee”) in consideration of Lender’s commitment to make the Loan on the terms
and conditions stated herein. In no event shall the Fee be applied or credited in reduction of any principal, interest, or other sum
payable hereunder;

 

(2) The
sum of two thousand five hundred and zero-and 00/100 Dollars ($2,500) shall be disbursed by Lender on behalf of Borrower and simultaneously
paid to Lender (the “Prepaid Interest”) which shall be credited against interest payments due under the terms of the Note,
as such interest payments become due; and

 

    	 

     

    

 

(3) The
sum of shall be disbursed by Lender on behalf of Borrower and simultaneously paid to Lender (the “Interest Reserve”). So
long as no Event of Default has occurred and is continuing and no event with the passage of time and/or the giving of notice would constitute
a default hereunder or under any other Loan Documents have occurred, Lender shall credit, the Interest Reserve towards the then due interest
payment under the Note. At the time all or any portion of the Interest Reserve is advanced pursuant to this Subsection (e), then, Borrower’s
obligation under the Note shall equal to each advance and interest shall be charged on such advanced accordingly. Any missed debt service
payments will constitute an Event of Default; and

 

(4)
The sum of seventy-five and 00/100 Dollars ($75.00) shall be disbursed on behalf of Borrower and simultaneously paid to
Lender as non-refundable flood, tax, and insurance certificate fee (the “Flood, Tax, and Insurance Certificate
Fee”); and

 

(5) The
sum of thirty-nine and 50/100 Dollars ($39.50) shall be disbursed on behalf of Borrower and simultaneously paid to Lender as non-refundable
credit report fee (the “Credit Report Fee”).

 

(6) Lender’s
advance of the Loan at closing shall be three million and 00/100 Dollars ($3,000,000.00). Payments of interest only, in arrears,
of the principal amount of the Note, shall be due from Borrower on the first day of each and every month commencing on March 10, 2022
as more particularly set forth in the Note. In the event Borrower fails to make a payment within ten (10) days of the date such payment
becomes due, Lender shall have the option, exercisable in its sole discretion, to require interest payments to be paid weekly, in arrears,
on the Wednesday of each week during the term of the Loan.

 

(7) The
sum of eight hundred and 00/100 ($800.00) shall be disbursed on behalf of Borrower and simultaneously paid to Lender as non-refundable
processing fee (the “Processing Fee”);

 

(8) The
sum of zero and 00/100 () shall be disbursed on behalf of Borrower and simultaneously paid to (the “Broker”) as non-refundable
broker fee (the “Broker Fee”);

 

(d) Each
advance by Lender to Borrower under this Agreement shall be recorded on the books of Lender bearing Borrower’s name (hereinafter
called “Borrower’s Account”). There shall also be recorded in Borrower’s Account all payments made by Borrower
on such advances received by Lender at its office, proceeds of any collateral for the Loan received by Lender at its office, which are
applied by Lender to the Advances made by it to Borrower pursuant to this Agreement, interest and expenses and other appropriate debits
and credits as herein provided.

 

 (e) Lender shall not be required to make any advance of the Loan, if at the time of the requested advance:

 

(i) Lender
shall have determined that the undisbursed balance of the Loan plus any funds of Borrower is insufficient to fund completion of the project
and Borrower is unable or unwilling to produce funds to cover the deficiency; or

 

(ii) The
Mortgaged Property has been materially damaged or destroyed by fire or any other casualty and the Borrower is unwilling or unable to
repair same using funds other than the proceeds of the loan or insurance proceeds; or

 

(iii) Any
legal action is pending which may have a material adverse effect upon the ability of Borrower to complete the improvements to the Mortgaged
Property; or

 

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(iv) Lender
has not received all documentation and information Lender requires, in its sole discretion, to confirm that the Mortgaged Property can
be developed in accordance with Borrower’s design guidelines and preliminary plat approval.

 

No
course of dealing between Borrower and Lender and no failure to require the satisfaction of any condition contained in this Section 1.01
shall operate as a waiver thereof as applied to any future advances:

 

All
amounts of the Loan shall be deemed advanced as of the date hereof and shall bear interest at the rate set forth in the Note from the
date hereof.

 

1.02 Use
of Proceeds. Borrower agrees that the Loan proceeds disbursed to Borrower will be used only for purchase and renovation of the property
described on the Schedule A.

 

1.03 Conditions
Precedent to Lender’s Obligations. Lender shall not be obligated to make the Loan hereunder unless Lender shall have received
the following, all in form and substance satisfactory to the Lender in all respects:

 

 (a) the Note, duly executed by Borrower;

 

(b) the
Deed of Trust, duly executed by Borrower; (c) this Agreement, duly executed by Borrower; (d) the Guaranty, duly executed by the
Guarantor;

 

 (e) the Collateral Assignment of Leases and Rents on the Property, duly executed by Borrower;

 

(f) the
Collateral Assignment of Contracts, Plans, Permits, & Approvals on the Property, duly executed by Borrower;

 

 (g) the Environmental Indemnity Agreement on the Property, duly executed by Borrower and Guarantor;

 

 (h) the Document Re-Execution Agreement, duly executed by Borrower and Guarantor;

 

 (i) the Closing Statement, duly executed by Borrower;

 

(j) certificates
of insurers, or other evidence satisfactory to Lender, indicating that Borrower and Guarantor have obtained the policies of insurance
as are required under the terms of the Mortgages;

 

(k) a
paid title insurance policy (without survey exception) in the full amount of the Loan issued by a title insurance company acceptable
to Lender (“Title Insurance Company”) and insuring the Mortgages as a valid first lien on the Mortgaged Properties, with
such endorsements as Lender shall require and subject to the permitted exceptions identified in the Mortgages;

 

(l) UCC-1
financing statements required to evidence or perfect Lender’s security interest in the personal property affixed to the Mortgaged
Properties;

 

 (m) an appraisal of the Mortgaged Properties;

 

 (n) financial statements and tax returns for Borrower, and the Guarantor;

 

(o) evidence
of a search of the public records which discloses no conditional sales contracts, chattel mortgages, leases of personality, financing
statements or title retention agreements filed or recorded against the Borrower or the Mortgaged Property;

 

    	Page 3 of 10

     

    

 

(p) copies
of all permits or approvals required by any governmental authorities to such date with respect to Borrower or the Mortgaged Property,
to the extent the same are necessary and appropriate to operate and develop the Mortgaged Property;

 

 (q) an environmental audit of the Mortgaged Property (Phase I and, if necessary Phase II);

 

 (r) the operating agreement of Borrower certified by the Sole Member of Borrower;

 

(s) an
incumbency certificate of Borrower which shall certify the names and titles of the officers/members of the Borrower authorized to sign,
in the name and on behalf of Borrower this Agreement and each other Loan Document to be delivered pursuant to this Agreement by Borrower,
together with the true signatures of such officers, upon which certificate the Lender may conclusively rely;

 

(t) resolutions/consents
of the Borrower authorizing the transactions to be entered into by Borrower in connection with this Agreement;

 

 (u) evidence that the Mortgaged Property is not located in a federal or state flood hazard area;

 

 (v) certification regarding debts and liens, executed by the owner of the Mortgaged Property;

 

(w) payment
of a Loan Origination Fee of fifteen thousand and 00/100 Dollars ($15,000.00) and other fees and expenses required to be paid
to or on behalf of Lender in connection with the Loan;

 

(x) evidence
demonstrating current full compliance with all applicable zoning, health, environmental and safety laws, ordinances and regulations (including,
without limitation, approval of local, private or public sewage or water utility);

 

(y) certification
from Borrower that Borrower is not a party to any existing or pending or threatened litigation, except as previously disclosed to Lender;

 

(z) evidence
demonstrating receipt of all appropriate approvals meeting all applicable requirements of any federal, state, county or municipal governmental
agency, board, commission, officer, official or entity exercising executive, legislative, judicial, regulatory or administrative functions
of or pertaining to government and having jurisdiction including, but not limited to, subdivision and site plan approvals, potable water
supply, sewage discharge and sewage connection, use of septic tanks or alternatives;

 

(aa)
satisfactory evidence that all roads and utilities necessary for the full utilization of the Mortgaged Property for its intended purposes
have been completed or the presently installed and proposed roads and utilities will be sufficient for the full utilization of Mortgaged
Property for its intended purposes; and

 

(bb)
such other agreements, certificates or other documents as Lender or Title Insurance Company may reasonably request.

 

ARTICLE
2: REPRESENTATIONS, WARRANTIES, AND GENERAL COVENANTS

 

On
the date hereof, and in order to induce Lender to enter into this Agreement, Borrower represents, warrants, and covenants the following:

 

2.01 Nature
of Entity. Borrowers are a limited liability company, validly existing and in good standing under the laws of the State of Delaware,
and is and will continue to be duly qualified and licensed to do business in any other state in which it is required to be so qualified,
organized and/or licensed.

 

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2.02 Power
and Authority. Borrower has the power to execute, deliver, and carry out this Agreement and to incur the Obligations, and has taken
all necessary action to authorize the execution, delivery and performance by Borrower of this Agreement and the incurring of the Obligations.

 

2.03 No
Legal Bar. The execution and delivery of this Agreement and compliance by Borrower with any of the terms and provisions hereof or
of any of the other agreements or instruments referred to herein will not, on the date hereof, violate any provision of any existing
law or regulation or any writ or decree of any court or governmental instrumentality, or any agreement or instrument to which Borrower
is a party or which is binding upon it or its assets, and will not result in the creation or imposition of any lien, security interest,
charge, or encumbrance of any nature whatsoever upon or in any of its assets, except as contemplated by this Agreement; and no consent
of any other party, license approval or authorization of or registration or declaration with any governmental bureau or agency, is required
in connection with the execution, delivery, performance, validity, and enforceability of this Agreement.

 

2.04 No
Material Litigation. No petition for bankruptcy, whether voluntary or involuntary, or assignment for the benefit of creditors, or
any other action involving debtors’ and creditors’ rights has been filed under the laws of the United States of America or
any state thereof, or is pending or threatened against Borrower. There are no claims, suits, actions, litigation or proceedings, pending
or threatened, at law or in equity, before any court, public board or body or arbitrator, and there are no judgments, permits, decrees,
or orders which have been issued, which would materially and adversely affect any of the obligations of Borrower under the Note or this
Agreement, and Borrower has not filed for an arrangement or a petition in bankruptcy nor has one been filed against Borrower.

 

2.05 No
Default. Borrower is not, on the date hereof, in default with respect to the payment or performance of any of its obligations or
in the performance of any covenants or conditions to be performed by it pursuant to the terms and provisions of any indenture, agreement,
or instrument to which it is a party or by which it may be bound.

 

2.06 Compliance
with Laws. Borrower has complied with and will continue to comply with all applicable statutes and regulations of the United States
of America, and all states, counties, municipalities, and agencies of any thereof with respect to (i) the conduct of its business operations;
and (ii) the use, maintenance, and operation of the real and personal properties owned or leased by it in the operation of its business.

 

2.07 No
Secondary Liabilities. There are no outstanding contracts or agreements of guaranty or suretyship made by Borrower, or to which it
is a party.

 

2.08 Taxes.
Borrower has filed, caused to be filed, or obtained extensions for the filing of, and will continue to file and cause to be filed,
all federal, state, and local tax returns required by law to be filed, and has paid and will continue to pay all taxes, including without
limitation real estate taxes or on any assessment made against it, except if being contested in good faith.

 

2.09 Financial
Condition. Borrower has submitted to Lender various financial statements and information, and represents that all of said financial
information is true and correct, that such financial information fairly presents the financial condition of Borrower as of the date thereof
and that, as of the date of said financial information submitted, there was no material unrealized or anticipated losses from any unfavorable
commitments of Borrower, and that there has been no material adverse change in the business or assets or in the condition, financial
or otherwise, of Borrower from that set forth in said financial statements. Borrower is solvent, is not bankrupt, is not contemplating,
nor has recently contemplated or filed, for bankruptcy, receivership, or reorganization proceedings (nor is there any prospect of such).
All of Borrower’s obligations to any creditor are current and not in default.

 

    	Page 5 of 10

     

    

 

2.10 Representation
Accuracy. No representation or warranty by Borrower contained in any certificate or other document furnished or to be furnished by
Borrower pursuant hereto or in connection with the transactions contemplated hereunder, contains, or at the time of delivery will contain,
any untrue statement of material fact or omits or will omit to state a material fact necessary to make it not misleading.

 

2.11 Cross-Default
and Cross-Collateralized. Borrower hereby acknowledges and agrees that a default under the terms and conditions of any other loans,
obligations, liabilities, or indebtedness of Borrower (whether now existing or hereafter arising) with Lender or any other lender shall
be deemed to be a default under the terms and conditions of the Note and this Agreement, and the property or properties collateralizing
other loans, obligations or indebtedness of Borrower shall act as collateral for the Loan, for as long as any one holder of the Note
holds both the Note and the notes or other debt instruments evidencing those other loans, obligations or indebtedness with Borrower.

 

Additionally,
any future loans, obligations, liabilities, or indebtedness of Borrower with Lender shall, at Lender’s sole option, be cross-collateralized
with this Loan, and to the extent such cross-collateralization requires amendments or modifications to the Loan Documents, Borrower agrees
to cooperate in good faith with Lender to accomplish such amendments and/or modifications.

 

ARTICLE
3: AFFIRMATIVE COVENANTS

 

Borrower
covenants and agrees that, so long as any of the Obligations to Lender shall remain outstanding, Borrower will perform and observe each
and all of the covenants and agreements herein set forth.

 

3.01 Payments
Under this Agreement. Borrower will make timely payment of all monies and will faithfully and fully keep and perform all of the terms,
conditions, covenants, and agreements contained on Borrower’s part to be paid, kept, or performed hereunder, and will be bound
in all respects as debtor under this Agreement, the Note, and any other instruments or documents executed and/or delivered in connection
herewith or therewith.

 

3.02 Payment
of Liabilities. Borrower will pay and discharge at or before their maturity all taxes, assessments, rents, claims, debts, and charges,
except where the same may be contested in good faith and/or non-payment is advised by Borrower’s counsel, and maintain, in accordance
with generally accepted accounting principles and practice, appropriate reserves for the accrual of any of the same.

 

3.03 Compliance
with Laws, Care of Property. Borrower will do, or cause to be done, all things necessary to comply with all laws, and to at all times
maintain, preserve, and protect its property used or useful in the conduct of its business and keep the same in good condition and repair
(normal wear and tear and obsolescence excepted), and from time to time make, or cause to be made, all needful and proper repairs, renewals,
replacements, betterments, and improvements thereto.

 

3.04 Notices.
All notices, requests, demands or other communications to or upon the respective parties hereto shall be made in accordance with
the terms of the Deed of Trust.

 

 3.05 Insurance. Borrower will keep the property insured in accordance with the terms of the Deed of Trust.

 

3.06 Construction
Completion. Borrower shall complete all improvements on the Mortgaged Property, as contemplated by the budget delivered to the Lender,
on a timely basis and in a good and workman like, lien free matter, in accordance with all applicable governmental statutes, laws, rules,
orders, regulations and ordinances.

 

ARTICLE
4: NEGATIVE COVENANTS

 

4.01
Fundamental Changes. So long as any Obligations of Borrower to Lender remain outstanding and unpaid, Borrower covenants and agrees
that it will not merge or consolidate with or into any other entity; dissolve or liquidate; convey, sell, lease, or otherwise dispose
of all or substantially all of its property, assets, or business; change the present form, ownership, or control of its business.

 

    	Page 6 of 10

     

    

 

ARTICLE
5: DEFAULT

 

5.01 Default.
Borrower hereby agrees that, if any Event of Default, as defined in the Note or Deed of Trust, shall occur, Lender may declare
the entire unpaid balance owed under the Note, this Agreement, or other sums owed hereunder or under any such note, immediately due and
payable without presentment, demand, protest, notice of protest, or other notice of dishonor of any kind, all of which are hereby expressly
waived by Borrower. All such rights of Lender are cumulative, not exclusive, and enforceable alternatively, successively, or concurrently.

 

5.02 Default
Rate. After the occurrence of an Event of Default, interest will accrue at the Default Rate, as defined in the Note.

 

ARTICLE
6: INDEMNIFICATION OF AND REIMBURSEMENT TO LENDER

 

6.01 Indemnification
by Borrower. Borrower shall indemnify and hold Lender harmless from and against any and all claims, demands, losses, judgments, liabilities,
costs or expenses (including, without limitation, reasonable attorneys’ fees and disbursements) which Lender may incur arising
out of or resulting from the Note, this Agreement, the Lender’s security interest in the Mortgaged Property, or enforcement or
exercise of any right or remedy granted to the Lender under this Agreement. In no event shall Lender be liable to the Borrower for any
matter or thing in connection with this Agreement other than to account for monies actually received by it.

 

6.02 Cure
by Lender. Following an Event of Default, Lender may, but shall not be required to, do any act or thing which Borrower has covenanted
to do hereunder or cause to be done or remedy any such breach and there shall be added to the Obligations of Borrower the cost or expense
incurred by Lender in so doing, and any and all amounts expended by Lender in taking such action, shall be repayable to it upon its demand
to Borrower therefor and shall bear interest from the date such cost or expense was incurred by Lender to the date paid in full at the
rate of interest set forth in the Note.

 

6.03 Reimbursement
of Expenses. Borrower shall pay to Lender all costs and expenses paid or incurred by Lender (including, without limitation, reasonable
attorneys’ fees and disbursements) in connection with the preparation for or any actual or attempted disposition of any of the
Mortgaged Property. All such costs and expenses incurred by Lender shall be repayable to it upon its demand to Borrower and shall bear
interest from the date the same were incurred to the date paid in full at the interest rate set forth in the Note.

 

ARTICLE
7: MISCELLANEOUS

 

7.01 Abandonment.
If at any time while this Deed of Trust is in default the Mortgaged Property shall be abandoned, vacated or left unattended,
the Mortgagee, if in its discretion such steps are necessary for the protection of the property, shall have the right, power and authority
at its option to enter upon the property and to secure same by changing the locks thereon, to paint and repair such premises, and to
place signs thereon notifying that it has taken possession of the premises and may also place signs thereon offering to sell the premises
subject to its acquisition of title thereto by foreclosure proceedings or otherwise and to show the property to potential purchasers;
and any such action by Mortgagee as described above shall not be deemed a trespass or trespasses or unlawful detainer upon such premises.
Furthermore, in the event of default hereunder, and the Mortgagor shall, either prior or subsequent to said default, remove or cause
to be removed all or substantially all of the Mortgagors personal property on the Mortgaged Property, the such default and abandonment
of the property shall constitute a default and abandonment of the Mortgaged Premises by the Mortgagor. Upon acquisition of title to the
Mortgaged Property by the Mortgagee by foreclosure sale or otherwise, Mortgagee shall have the right to remove from the premises any
and all personal property therein contained, and no liability shall attach to the Mortgagee to account for such personal property or
for damages occasioned by the loss, theft or removal of such personal property. Any costs or expenses of Mortgagee for securing, repairing
or any other activities upon the premises pursuant to this paragraph shall be the responsibility of the Mortgagor. The term “offering
to sell the premises” as used herein shall be defined to mean and shall include (but not be limited to) offering the Mortgaged
Property for sale (a) by way of placing signage on Mortgaged Property, (b) by listing the Mortgaged Property on any MLS site or any other
Web or Internet site or media and/or (c) through any other print or electronic means of advertising.

 

    	Page 7 of 10

     

    

 

7.02 WAIVER
OF RIGHT TO PREJUDGMENT REMEDY, NOTICE, AND HEARING. BORROWER (AND EACH AND EVERY ENDORSER, GUARANTOR, AND SURETY OF THIS NOTE) ACKNOWLEDGES
THAT THE LOAN EVIDENCED BY THIS NOTE IS A COMMERCIAL TRANSACTION, AND HEREBY VOLUNTARILY AND KNOWINGLY WAIVES THE RIGHT TO NOTICE AND
HEARING UNDER APPLICABLE SOUTH CAROLINA GENERAL STATUTES, OR ANY SUCCESSOR STATUTE OF SIMILAR IMPORT, WITH RESPECT TO ANY PREJUDGMENT
REMEDY AS DEFINED THEREIN, AND FURTHER WAIVES DILIGENCE, DEMAND, PRESENTMENT FOR PAYMENT, NOTICE OF NONPAYMENT, PROTEST AND NOTICE OF
PROTEST AND NOTICE OF ANY RENEWALS OR EXTENSIONS OF THIS NOTE, AND ALL RIGHTS UNDER ANY STATUTE OF LIMITATIONS, AND AGREES THAT THE TIME
FOR PAYMENT OF THIS NOTE MAY BE CHANGED AND EXTENDED AS PROVIDED IN SAID Deed of Trust OR ANY SECURITY AGREEMENT, WITHOUT IMPAIRING
BORROWER’S LIABILITY THEREON, AND FURTHER CONSENTS TO THE RELEASE OF ALL OR ANY PART OF THE SECURITY FOR THE PAYMENT HEREOF, OR
THE RELEASE OF ANY PARTY LIABLE FOR THIS OBLIGATION WITHOUT AFFECTING THE LIABILITY OF THE OTHER PARTIES HERETO. ANY DELAY ON THE PART
OF THE HOLDER HEREOF IN EXERCISING ANY RIGHT HEREUNDER SHALL NOT OPERATE AS A WAIVER OF ANY SUCH RIGHT, AND ANY WAIVER GRANTED FOR ONE
OCCASION SHALL NOT OPERATE AS A WAIVER IN THE EVENT OF ANY SUBSEQUENT DEFAULT.

 

7.03 JURY
TRIAL WAIVER. BORROWER AND LENDER EACH HEREBY UNCONDITIONALLY AND IRREVOCABLY WAIVE ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY ACTION,
SUIT, COUNTERCLAIM, OR CROSS-CLAIM ARISING IN CONNECTION WITH, OUT OF, OR OTHERWISE RELATING TO THE LOAN DOCUMENTS, THE OBLIGATIONS,
THE MORTGAGED PROPERTY, ANY TRANSACTION ARISING THEREFROM OR RELATED THERETO, OR ANY DISPUTE INVOLVING BORROWER AND LENDER. FURTHER,
EXCEPT AS PROHIBITED BY LAW, BORROWER WAIVES ANY RIGHT WHICH IT MAY HAVE TO CLAIM OR RECOVER IN ANY LITIGATION BETWEEN THE PARTIES ANY
SPECIAL, EXEMPLARY, PUNITIVE, OR CONSEQUENTIAL DAMAGES, OR ANY DAMAGES OTHER THAN, OR IN ADDITION TO, ACTUAL DAMAGES. BORROWER ACKNOWLEDGES
AND AGREES THAT THIS SECTION 7.02 IS A SPECIFIC AND MATERIAL ASPECT OF THIS AGREEMENT AND THAT LENDER WOULD NOT EXTEND CREDIT TO BORROWER
IF THE WAIVERS SET FORTH IN THIS SECTION 7.02 WERE NOT A PART OF THIS AGREEMENT.

 

7.04 No
Waiver by Lender. No course of dealing between Borrower and Lender and no failure to exercise or delay in exercising on the part
of Lender any right, power, or privilege under the terms of this Agreement or under the terms of any other agreements, instruments, or
other documents between Lender and Borrower shall operate as a waiver thereof; not shall any single or partial exercise of any right,
power, or privilege hereunder or thereunder preclude any other or further privilege. The rights and remedies provided herein or in any
other agreement are cumulative and not exclusive or in derogation of any rights or remedies provided in and thereof, by law or otherwise.

 

7.05 Survival
of Representations. All agreements, representations, and warranties made herein, in any agreement and in any statements, notices,
invoices, certificates, schedules, documents, or other instruments delivered to Lender in connection with the Agreement or any other
agreement shall survive the making of the loans and advances hereunder.

 

7.06 Further
Documentation. Borrower agrees that, at any time or from time to time upon written request of Lender, Borrower will execute and deliver
such further documents and do such other acts and things as Lender may reasonably request in order to fully effect the purposes of this
Agreement and the documents referred to herein. Borrower agrees that, to the extent any facts or circumstances reported on exhibits hereto
are materially changed, whether by addition, subtraction, modification, etc., Borrower will promptly notify Lender of such changes, additions,
subtractions, modifications, etc.

 

    	Page 8 of 10

     

    

 

7.07 Entire
Agreement. This Agreement, together with the other Loan Documents executed in connection herewith, constitutes the entire agreement
and understanding among the parties relating to the subject matter hereof and supersedes all prior proposals, negotiations, agreements,
and understandings relating to such subject matter. In entering into this Agreement, Borrower acknowledges that it is not relying on
any representation, warranty, covenant, promise, assurance, or other statement of any kind made by Lender or by any employee or agent
of Lender.

 

7.08 Rights
of Assignees and Successors. All rights of Lender in, to, and under this Agreement and any other instrument or document executed
and/or delivered in connection herewith shall pass to and may be exercised by any assignee thereof. Borrower agrees that, in the event
of an assignment of this Agreement and notice of such assignment to Borrower, the liability of Borrower to a holder for value of this
Agreement shall be immediate and absolute and not affected by any actions of Lender and that Borrower will not set up any claim against
Lender as a defense, counterclaim, or setoff to any action for the unpaid balance owed under this Agreement or for possession brought
by said holder. All rights of Lender hereunder shall inure to the benefit of its successors and assigns and any subsequent holder of
the Note, and all Obligations of Borrower shall bind the heirs, executors, administrators, successors, and assigns of Borrower.

 

7.09 Attorneys’
Fees and Expenses. Borrower agrees to pay all reasonable attorneys’ fees and expenses, including recording and filing fees,
incurred by Lender in connection with the financing being concluded this day as well as any fees and expenses of counsel, whether incurred
before or after the Obligations are paid and performed in full, which Lender may hereafter incur in reasonably protecting, enforcing,
increasing, or releasing any security held by Lender, and in foreclosing any mortgage and/or in sustaining the validity of any Deed
of Trust. Borrower specifically authorizes Lender to pay all such fees and expenses and charge the same to its loan account.

 

7.10 Headings.
The descriptive headings of the several sections of this Agreement are inserted for convenience only and shall not be deemed to affect
the meaning or construction of any of the provisions hereof.

 

7.11 Severability.
If any provision of this Agreement or application thereof to any person or circumstance shall to any extent be invalid, the remainder
of this Agreement or the application of such provision to persons, entities, or circumstances other than those as to which it is held
invalid, shall not be affected thereby and each provision of this Agreement shall be valid and enforceable to the fullest extent permitted
by law.

 

7.12 Further
Assurances. Borrower shall execute and deliver to Lender all instruments and do such further acts and things as Lender may reasonably
request which may be necessary or desirable to effect the purposes of this Agreement.

 

7.13 Governing
Law. This Agreement shall be construed in accordance with, and governed by, the laws of the State of South Carolina.

 

7.14 Jurisdiction.
THE LOAN WAS NEGOTIATED IN THE STATE OF SOUTH CAROLINA. THIS LOAN AGREEMENT WAS NEGOTIATED IN THE STATE OF SOUTH CAROLINA, WAS EXECUTED
AND DELIVERED BY THE BORROWER AND ACCEPTED BY THE LENDER IN THE STATE OF SOUTH CAROLINA, AND THE PROCEEDS OF THE NOTE WERE DISBURSED
FROM THE STATE OF SOUTH CAROLINA, WHICH STATE THE BORROWER AND THE LENDER AGREE HAS A SUBSTANTIAL RELATIONSHIP TO THE PARTIES AND THE
UNDERLYING TRANSACTION EMBODIED HEREBY, AND IN ALL RESPECTS, INCLUDING, WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, MATTERS OF
CONSTRUCTION, VALIDITY, AND PERFORMANCE. THIS LOAN AGREEMENT AND THE OBLIGATIONS ARISING HEREUNDER SHALL BE GOVERNED BY AND CONSTRUED
IN ACCORDANCE WITH, THE LAWS OF THE STATE OF SOUTH CAROLINA, WITHOUT REGARD TO CHOICE OF LAW CONSIDERATIONS, APPLICABLE TO CONTRACTS
MADE AND PERFORMED IN SUCH STATE AND ANY APPLICABLE LAW OF THE UNITED STATES OF AMERICA, EXCEPT THAT AT ALL TIMES THE PROVISIONS FOR
THE CREATION, PERFECTION, PRIORITY, ENFORCEMENT, AND FORECLOSURE OF THE LIENS AND SECURITY INTERESTS CREATED IN THE MORTGAGED PROPERTY
UNDER THE LOAN DOCUMENTS SHALL BE GOVERNED BY AND CONSTRUED ACCORDING TO THE LAW OF THE JURISDICTION IN WHICH THE MORTGAGED PROPERTY
IS LOCATED, IT BEING UNDERSTOOD THAT, TO THE FULLEST EXTENT PERMITTED BY THE LAW OF SUCH JURISDICTION, THE LAW OF THE STATE OF SOUTH
CAROLINA SHALL GOVERN THE VALIDITY AND ENFORCEABILITY OF ALL LOAN DOCUMENTS, AND THE DEBT OR OBLIGATIONS ARISING HEREUNDER. BORROWER
AND LENDER AGREE THAT THE TRANSACTION EVIDENCED BY THIS LOAN AGREEMENT SHALL GOVERN BORROWERS AND LENDERS RIGHTS AND DUTIES WITH RESPECT
TO INTEREST, LOAN CHARGES, COMMITMENT FEES, AND BROKERAGE COMMISSIONS.

  

7.15 Amendments.
This Agreement may not be altered, amended, waived, or modified in any way whatsoever except by a writing duly executed by the party
to be charged therewith.

 

7.16 Entire
Agreement. This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof.

 

[Signatures
Commence on Next Page]

 

    	Page 9 of 10

     

    

 

IN
WITNESS WHEREOF, Borrower has caused this Agreement to be executed on January 28, 2022.

 

VH
1121 14th, LLC, LLC, a Delaware limited liability company

by
iCap Vault Management, LLC, a Delaware limited liability company, Manager

by
iCap Enterprises, Inc., a Washington corporation, Manager

 

	By:	/s/
    Christopher Christensen	
     Date: 	1/28/2022
	 	Christopher
    Christensen, Chief Executive Officer	 	 

 

	State
    of	Washington	 
	 	 	 
	County
    of	King
	 

 

On
this, the 28th of January 2022, before me, the undersigned, personally appeared, Christopher Christensen, CEO iCap
Enterprises, Inc., Manager of iCap Vault Management, LLC, Manager of VH 1121 14th, LLC, known to me, or satisfactorily proven to be the
person whose name subscribed to the within instrument, and acknowledged that they executed the same for the purposes therein contained.

 

In
witness whereof, I hereunto set my hand and official seals.

 

	 	/s/
    Constance Crothers
	 	Notary
Public

    

	[SEAL]	Constance
Crothers
	 	Print
Name

    

	 	12-31-24
	 	My
Commission Expires

 

    	Page 10 of 10

     

    

 

SCHEDULE
A

PROPERTY
DESCRIPTION

 

Property
address commonly known as: 1117 14th Avenue #A, Seattle, WA 98122, 1117 14th Avenue #B, Seattle, WA 98122, 1119 14th Avenue #A, Seattle,
WA 98122, 1119 14th Avenue #B, Seattle, WA 98122, and 1211 14th Avenue, Seattle, WA 98102

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