Document:

Exhibit 10.1

 

PROMULGATED BY THE TEXAS REAL ESTATE COMMISSION (TREC) 2-12-18 UNIMPROVED
PROPERTY CONTRACT NOTICE: Not For Use For Condominium Transactions 1. PARTIES: The parties to this contract are Northport Harbor LLC (Seller)
and S G Blocks Inc. By Paul Galvin (Buyer). Seller agrees to sell and convey to Buyer and Buyer agrees to buy from Seller the Property
defined below. 2. PROPERTY: Lot , Block , ABS 90 SUR 600 BALDWIN K ACR 59.138& .2330 AC OF LOT 1 COVE AT LAGO VISTA Addition, City
of Lago Vista , County of Travis , Texas, known as 1900 & 1901 American Dr 78645 (address/zip code), or as described on attached exhibit
together with all rights, privileges and appurtenances pertaining thereto, including but not limited to: water rights, claims, permits,
strips and gores, easements, and cooperative or association memberships (the Property). RESERVATIONS: Any reservation for oil, gas, or
other minerals, water, timber, or other interests is made in accordance with an attached addendum. 3. SALES PRICE: A. Cash portion of
Sales Price payable by Buyer at closing. $3,500,000.00 B. Sum of all financing described in the attached: Third Party Financing Addendum,
Loan Assumption Addendum, Seller Financing Addendum. $ C. Sales Price (Sum of A and B) $3,500,000.00 4. LICENSE HOLDER DISCLOSURE: Texas
law requires a real estate license holder who is a party to a transaction or acting on behalf of a spouse, parent, child, business entity
in which the license holder owns more than 10%, or a trust for which the license holder acts as a trustee or of which the license holder
or the license holder's spouse, parent or child is a beneficiary, to notify the other party in writing before entering into a contract
of sale. Disclose if applicable: N/A . 5. EARNEST MONEY: Within 3 days after the Effective Date, Buyer must deliver $100,000.00 as earnest
money to Independence Title- Laura Pagnozzi , as escrow agent, at 6836 Bee Cave Rd Bldg III Suite 100 Austin, TX 78746 (address). Buyer
shall deposit additional earnest money of $N/A to escrow agent within days after the effective date of this contract. If Buyer fails to
deliver the earnest money within the time required, Seller may terminate this contract or exercise Seller's remedies under Paragraph 15,
or both, by providing notice to Buyer before Buyer delivers the earnest money. If the last day to deliver the earnest money falls on a
Saturday, Sunday, or legal holiday, the time to deliver the earnest money is extended until the end of the next day that is not a Saturday,
Sunday, or legal holiday. Time is of the essence for this paragraph. 6. TITLE POLICY AND SURVEY: A. TITLE POLICY: Seller shall furnish
to Buyer at X Seller's Buyer's expense an owner's policy of title insurance (Title Policy) issued by Independence Title (Title Company)
in the amount of the Sales Price, dated at or after closing, insuring Buyer against loss under the provisions of the Title Policy, subject
to the promulgated exclusions (including existing building and zoning ordinances) and the following exceptions: (1) Restrictive covenants
common to the platted subdivision in which the Property is located. (2) The standard printed exception for standby fees, taxes and assessments.
(3) Liens created as part of the financing described in Paragraph 3. (4) Utility easements created by the dedication deed or plat of the
subdivision in which the Property is located. (5) Reservations or exceptions otherwise permitted by this contract or as may be approved
by Buyer in writing. (6) The standard printed exception as to marital rights. (7) The standard printed exception as to waters, tidelands,
beaches, streams, and related matters. (8) The standard printed exception as to discrepancies, conflicts, shortages in area or boundary
lines, encroachments or protrusions, or overlapping improvements: (i) will not be amended or deleted from the title policy; or X (ii)
will be amended to read, "shortages in area" at the expense of Buyer Seller. (9) The exception or exclusion regarding minerals
approved by the Texas Department of Insurance. B. COMMITMENT: Within 20 days after the Title Company receives a copy of this contract,
Seller shall furnish to Buyer a commitment for title insurance (Commitment) and, at Buyer's expense, legible copies of restrictive covenants
and documents evidencing exceptions in the Commitment (Exception Documents) other than the standard printed exceptions. Seller authorizes
the Title Company to deliver the Commitment and Exception Documents to Buyer at Buyer's address TXR 1607 Initialed for identification
by Buyer and Seller TREC NO. 9-13 AustinRealEstate.com, 3103 Bee Cave Rd Suite 102 Austin TX 78746 Phone: 5124680449

    	 

    	 

    

 

Contract Concerning 1900 & 1901 American Dr Lago Vista, TX 78645
Page 2 of 9 2-12-18 (Address of Property) shown in Paragraph 21. If the Commitment and Exception Documents are not delivered to Buyer
within the specified time, the time for delivery will be automatically extended up to 15 days or 3 days before the Closing Date, whichever
is earlier. If the Commitment and Exception Documents are not delivered within the time required, Buyer may terminate this contract and
the earnest money will be refunded to Buyer. C. SURVEY: The survey must be made by a registered professional land surveyor acceptable
to the Title Company and Buyer's lender(s). (Check one box only) X (1) Within 3 days after the Effective Date of this contract, Seller
shall furnish to Buyer and Title Company Seller's existing survey of the Property and a Residential Real Property Affidavit promulgated
by the Texas Department of Insurance (T-47 Affidavit). If Seller fails to furnish the existing survey or affidavit within the time prescribed,
Buyer shall obtain a new survey at Seller's expense no later than 3 days prior to Closing Date. If the existing survey or affidavit is
not acceptable to Title Company or Buyer's lender(s), Buyer shall obtain a new survey at Seller's X Buyer's expense no later than 3 days
prior to Closing Date. (2) Within days after the Effective Date of this contract, Buyer shall obtain a new survey at Buyer's expense.
Buyer is deemed to receive the survey on the date of actual receipt or the date specified in this paragraph, whichever is earlier. (3)
Within days after the Effective Date of this contract, Seller, at Seller's expense shall furnish a new survey to Buyer. D. OBJECTIONS:
Buyer may object in writing to (i) defects, exceptions, or encumbrances to title: disclosed on the survey other than items 6A(1) through
(7) above; or disclosed in the Commitment other than items 6A(1) through (9) above; (ii) any portion of the Property lying in a special
flood hazard area (Zone V or A) as shown on the current Federal Emergency Management Agency map; or (iii) any exceptions which prohibit
the following use or activity: . Buyer must object the earlier of (i) the Closing Date or (ii) 5 days after Buyer receives the Commitment,
Exception Documents, and the survey. Buyer's failure to object within the time allowed will constitute a waiver of Buyer's right to object;
except that the requirements in Schedule C of the Commitment are not waived. Provided Seller is not obligated to incur any expense, Seller
shall cure any timely objections of Buyer or any third party lender within 15 days after Seller receives the objections (Cure Period)
and the Closing Date will be extended as necessary. If objections are not cured within the Cure Period, Buyer may, by delivering notice
to Seller within 5 days after the end of the Cure Period: (i) terminate this contract and the earnest money will be refunded to Buyer;
or (ii) waive the objections. If Buyer does not terminate within the time required, Buyer shall be deemed to have waived the objections.
If the Commitment or Survey is revised or any new Exception Document(s) is delivered, Buyer may object to any new matter revealed in the
revised Commitment or Survey or new Exception Document(s) within the same time stated in this paragraph to make objections beginning when
the revised Commitment, Survey, or Exception Document(s) is delivered to Buyer. E. TITLE NOTICES: (1) ABSTRACT OR TITLE POLICY: Broker
advises Buyer to have an abstract of title covering the Property examined by an attorney of Buyer's selection, or Buyer should be furnished
with or obtain a Title Policy. If a Title Policy is furnished, the Commitment should be promptly reviewed by an attorney of Buyer's choice
due to the time limitations on Buyer's right to object. (2) MEMBERSHIP IN PROPERTY OWNERS ASSOCIATION(S): The Property is X is not subject
to mandatory membership in a property owners association(s). If the Property is subject to mandatory membership in a property owners association(s),
Seller notifies Buyer under §5.012, Texas Property Code, that, as a purchaser of property in the residential community identified
in Paragraph 2 in which the Property is located, you are obligated to be a member of the property owners association(s). Restrictive covenants
governing the use and occupancy of the Property and all dedicatory instruments governing the establishment, maintenance, and operation
of this residential community have been or will be recorded in the Real Property Records of the county in which the Property is located.
Copies of the restrictive covenants and dedicatory instruments may be obtained from the county clerk. You are obligated to pay assessments
to the property owners association(s). The amount of the assessments is subject to change. Your failure to pay the assessments could result
in enforcement of the association's lien on and the foreclosure of the Property. Section 207.003, Property Code, entitles an owner to
receive copies of any document that governs the establishment, maintenance, or operation of a subdivision, including, but not limited
to, restrictions, bylaws, rules and regulations, and a resale certificate from a property owners' association. A resale certificate contains
information including, but not limited to, statements specifying the amount and frequency of regular assessments and the style and cause
number of lawsuits to which the property owners' association is a party, other than lawsuits relating to unpaid ad valorem taxes of an
individual member of the association. These documents must be made available to you by the property owners' association or the association's
agent on your request. If Buyer is concerned about these matters, the TREC promulgated Addendum for Property Subject to Mandatory Membership
in a Property Owners Association should be used. TXR 1607 Initialed for identification by Buyer and Seller TREC NO. 9-13 Produced with
zipForm® by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zipLogix.com American Drive

    	 

    	 

    

 

Contract Concerning 1900 & 1901 American Dr Lago Vista, TX 78645
Page 3 of 9 2-12-18 (Address of Property) (3) STATUTORY TAX DISTRICTS: If the Property is situated in a utility or other statutorily created
district providing water, sewer, drainage, or flood control facilities and services, Chapter 49, Texas Water Code, requires Seller to
deliver and Buyer to sign the statutory notice relating to the tax rate, bonded indebtedness, or standby fee of the district prior to
final execution of this contract. (4) TIDE WATERS: If the Property abuts the tidally influenced waters of the state, §33.135, Texas
Natural Resources Code, requires a notice regarding coastal area property to be included in the contract. An addendum containing the notice
promulgated by TREC or required by the parties must be used. (5) ANNEXATION: If the Property is located outside the limits of a municipality,
Seller notifies Buyer under §5.011, Texas Property Code, that the Property may now or later be included in the extraterritorial jurisdiction
of a municipality and may now or later be subject to annexation by the municipality. Each municipality maintains a map that depicts its
boundaries and extraterritorial jurisdiction. To determine if the Property is located within a municipality's extraterritorial jurisdiction
or is likely to be located within a municipality's extraterritorial jurisdiction, contact all municipalities located in the general proximity
of the Property for further information. (6) PROPERTY LOCATED IN A CERTIFICATED SERVICE AREA OF A UTILITY SERVICE PROVIDER: Notice required
by §13.257, Water Code: The real property, described in Paragraph 2, that you are about to purchase may be located in a certificated
water or sewer service area, which is authorized by law to provide water or sewer service to the properties in the certificated area.
If your property is located in a certificated area there may be special costs or charges that you will be required to pay before you can
receive water or sewer service. There may be a period required to construct lines or other facilities necessary to provide water or sewer
service to your property. You are advised to determine if the property is in a certificated area and contact the utility service provider
to determine the cost that you will be required to pay and the period, if any, that is required to provide water or sewer service to your
property. The undersigned Buyer hereby acknowledges receipt of the foregoing notice at or before the execution of a binding contract for
the purchase of the real property described in Paragraph 2 or at closing of purchase of the real property. (7) PUBLIC IMPROVEMENT DISTRICTS:
If the Property is in a public improvement district, §5.014, Property Code, requires Seller to notify Buyer as follows: As a purchaser
of this parcel of real property you are obligated to pay an assessment to a municipality or county for an improvement project undertaken
by a public improvement district under Chapter 372, Local Government Code. The assessment may be due annually or in periodic installments.
More information concerning the amount of the assessment and the due dates of that assessment may be obtained from the municipality or
county levying the assessment. The amount of the assessments is subject to change. Your failure to pay the assessments could result in
a lien on and the foreclosure of your property. (8) TEXAS AGRICULTURAL DEVELOPMENT DISTRICT: The Property is X is not located in a Texas
Agricultural Development District. For additional information, contact the Texas Department of Agriculture. (9) TRANSFER FEES: If the
Property is subject to a private transfer fee obligation, §5.205, Property Code requires Seller to notify Buyer as follows: The private
transfer fee obligation may be governed by Chapter 5, Subchapter G of the Texas Property Code. (10) PROPANE GAS SYSTEM SERVICE AREA: If
the Property is located in a propane gas system service area owned by a distribution system retailer, Seller must give Buyer written notice
as required by §141.010, Texas Utilities Code. An addendum containing the notice approved by TREC or required by the parties should
be used. (11) NOTICE OF WATER LEVEL FLUCTUATIONS: If the Property adjoins an impoundment of water, including a reservoir or lake, constructed
and maintained under Chapter 11, Water Code, that has a storage capacity of at least 5,000 acre-feet at the impoundment's normal operating
level, Seller hereby notifies Buyer: “The water level of the impoundment of water adjoining the Property fluctuates for various
reasons, including as a result of: (1) an entity lawfully exercising its right to use the water stored in the impoundment; or (2) drought
or flood conditions.” 7. PROPERTY CONDITION: A. ACCESS, INSPECTIONS AND UTILITIES: Seller shall permit Buyer and Buyer's agents
access to the Property at reasonable times. Buyer may have the Property inspected by inspectors selected by Buyer and licensed by TREC
or otherwise permitted by law to make inspections. Seller at Seller's expense shall immediately cause existing utilities to be turned
on and shall keep the utilities on during the time this contract is in effect. NOTICE: Buyer should determine the availability of utilities
to the Property suitable to satisfy Buyer's needs. B. ACCEPTANCE OF PROPERTY CONDITION: “As Is” means the present condition
of the Property with any and all defects and without warranty except for the warranties of title and the warranties in this contract.
Buyer's agreement to accept the Property As Is under Paragraph 7B (1) or (2) does not preclude Buyer from inspecting the Property under
Paragraph 7A, from negotiating repairs or treatments in a subsequent amendment, or from terminating this contract during the Option Period,
if any. TXR 1607 Initialed for identification by Buyer and Seller TREC NO. 9-13 Produced with zipForm® by zipLogix 18070 Fifteen Mile
Road, Fraser, Michigan 48026 www.zipLogix.com American Drive

    	 

    	 

    

 

Contract Concerning 1900 & 1901 American Dr Lago Vista, TX 78645
Page 4 of 9 2-12-18 (Address of Property) (Check one box only) X (1) Buyer accepts the Property As Is. (2) Buyer accepts the Property
As Is provided Seller, at Seller's expense, shall complete the following specific repairs and treatments: . (Do not insert general phrases,
such as “subject to inspections” that do not identify specific repairs and treatments.) C. COMPLETION OF REPAIRS: Unless otherwise
agreed in writing: (i) Seller shall complete all agreed repairs and treatments prior to the Closing Date; and (ii) all required permits
must be obtained, and repairs and treatments must be performed by persons who are licensed to provide such repairs or treatments or, if
no license is required by law, are commercially engaged in the trade of providing such repairs or treatments. At Buyer's election, any
transferable warranties received by Seller with respect to the repairs and treatments will be transferred to Buyer at Buyer's expense.
If Seller fails to complete any agreed repairs and treatments prior to the Closing Date, Buyer may exercise remedies under Paragraph 15
or extend the Closing Date up to 5 days, if necessary, for Seller to complete repairs and treatments. D. ENVIRONMENTAL MATTERS: Buyer
is advised that the presence of wetlands, toxic substances, including asbestos and wastes or other environmental hazards, or the presence
of a threatened or endangered species or its habitat may affect Buyer's intended use of the Property. If Buyer is concerned about these
matters, an addendum promulgated by TREC or required by the parties should be used. E. SELLER'S DISCLOSURES: Except as otherwise disclosed
in this contract, Seller has no knowledge of the following: (1) any flooding of the Property which has had a material adverse effect on
the use of the Property; (2) any pending or threatened litigation, condemnation, or special assessment affecting the Property; (3) any
environmental hazards that materially and adversely affect the Property; (4) any dumpsite, landfill, or underground tanks or containers
now or previously located on the Property; (5) any wetlands, as defined by federal or state law or regulation, affecting the Property;
or (6) any threatened or endangered species or their habitat affecting the Property. 8. BROKERS' FEES: All obligations of the parties
for payment of brokers' fees are contained in separate written agreements. 9. CLOSING: A. The closing of the sale will be on or before
May 3 , 2021 , or within 7 days after objections made under Paragraph 6D have been cured or waived, whichever date is later (Closing Date).
If either party fails to close the sale by the Closing Date, the non-defaulting party may exercise the remedies contained in Paragraph
15. B. At closing: (1) Seller shall execute and deliver a general warranty deed conveying title to the Property to Buyer and showing no
additional exceptions to those permitted in Paragraph 6 and furnish tax statements or certificates showing no delinquent taxes on the
Property. (2) Buyer shall pay the Sales Price in good funds acceptable to the escrow agent. (3) Seller and Buyer shall execute and deliver
any notices, statements, certificates, affidavits, releases, loan documents and other documents reasonably required for the closing of
the sale and the issuance of the Title Policy. (4) There will be no liens, assessments, or security interests against the Property which
will not be satisfied out of the sales proceeds unless securing the payment of any loans assumed by Buyer and assumed loans will not be
in default. 10. POSSESSION: A. Buyer's Possession: Seller shall deliver to Buyer possession of the Property in its present or required
condition upon closing and funding. B. Leases: (1) After the Effective Date, Seller may not execute any lease (including but not limited
to mineral leases) or convey any interest in the Property without Buyer's written consent. (2) If the Property is subject to any lease
to which Seller is a party, Seller shall deliver to Buyer copies of the lease(s) and any move-in condition form signed by the tenant within
7 days after the Effective Date of the contract. 11. SPECIAL PROVISIONS: (Insert only factual statements and business details applicable
to the sale. TREC rules prohibit license holders from adding factual statements or business details for which a contract addendum or other
form has been promulgated by TREC for mandatory use.) 10,000 Option Money is non refundable $10,000 option fee is non-refundable Special
Addendum Provisions attached to this email TXR 1607 Initialed for identification by Buyer and Seller TREC NO. 9-13 Produced with zipForm®
by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zipLogix.com American Drive

    	 

    	 

    

 

Contract Concerning 1900 & 1901 American Dr Lago Vista, TX 78645
Page 5 of 9 2-12-18 (Address of Property) 12. SETTLEMENT AND OTHER EXPENSES: A. The following expenses must be paid at or prior to closing:
(1) Expenses payable by Seller (Seller's Expenses): (a) Releases of existing liens, including prepayment penalties and recording fees;
release of Seller's loan liability; tax statements or certificates; preparation of deed; one-half of escrow fee; and other expenses payable
by Seller under this contract. (b) Seller shall also pay an amount not to exceed $N/A to be applied in the following order: Buyer's Expenses
which Buyer is prohibited from paying by FHA, VA, Texas Veterans Land Board or other governmental loan programs, and then to other Buyer's
Expenses as allowed by the lender. (2) Expenses payable by Buyer (Buyer's Expenses): Appraisal fees; loan application fees; origination
charges; credit reports; preparation of loan documents; interest on the notes from date of disbursement to one month prior to dates of
first monthly payments; recording fees; copies of easements and restrictions; loan title policy with endorsements required by lender;
loan-related inspection fees; photos; amortization schedules; one-half of escrow fee; all prepaid items, including required premiums for
flood and hazard insurance, reserve deposits for insurance, ad valorem taxes and special governmental assessments; final compliance inspection;
courier fee; repair inspection; underwriting fee; wire transfer fee; expenses incident to any loan; Private Mortgage Insurance Premium
(PMI), VA Loan Funding Fee, or FHA Mortgage Insurance Premium (MIP) as required by the lender; and other expenses payable by Buyer under
this contract. B. If any expense exceeds an amount expressly stated in this contract for such expense to be paid by a party, that party
may terminate this contract unless the other party agrees to pay such excess. Buyer may not pay charges and fees expressly prohibited
by FHA, VA, Texas Veterans Land Board or other governmental loan program regulations. 13. PRORATIONS AND ROLLBACK TAXES: A. PRORATIONS:
Taxes for the current year, interest, maintenance fees, assessments, dues and rents will be prorated through the Closing Date. The tax
proration may be calculated taking into consideration any change in exemptions that will affect the current year's taxes. If taxes for
the current year vary from the amount prorated at closing, the parties shall adjust the prorations when tax statements for the current
year are available. If taxes are not paid at or prior to closing, Buyer shall pay taxes for the current year. B. ROLLBACK TAXES: If this
sale or Buyer's use of the Property after closing results in the assessment of additional taxes, penalties or interest (Assessments) for
periods prior to closing, the Assessments will be the obligation of Buyer. If Assessments are imposed because of Seller's use or change
in use of the Property prior to closing, the Assessments will be the obligation of Seller. Obligations imposed by this paragraph will
survive closing. 14. CASUALTY LOSS: If any part of the Property is damaged or destroyed by fire or other casualty after the Effective
Date of this contract, Seller shall restore the Property to its previous condition as soon as reasonably possible, but in any event by
the Closing Date. If Seller fails to do so due to factors beyond Seller's control, Buyer may (a) terminate this contract and the earnest
money will be refunded to Buyer (b) extend the time for performance up to 15 days and the Closing Date will be extended as necessary or
(c) accept the Property in its damaged condition with an assignment of insurance proceeds, if permitted by Seller's insurance carrier,
and receive credit from Seller at closing in the amount of the deductible under the insurance policy. Seller's obligations under this
paragraph are independent of any other obligations of Seller under this contract. 15. DEFAULT: If Buyer fails to comply with this contract,
Buyer will be in default, and Seller may (a) enforce specific performance, seek such other relief as may be provided by law, or both,
or (b) terminate this contract and receive the earnest money as liquidated damages, thereby releasing both parties from this contract.
If Seller fails to comply with this contract Seller will be in default and Buyer may (a) enforce specific performance, seek such other
relief as may be provided by law, or both, or (b) terminate this contract and receive the earnest money, thereby releasing both parties
from this contract. 16. MEDIATION: It is the policy of the State of Texas to encourage resolution of disputes through alternative dispute
resolution procedures such as mediation. Any dispute between Seller and Buyer related to this contract which is not resolved through informal
discussion will be submitted to a mutually acceptable mediation service or provider. The parties to the mediation shall bear the mediation
costs equally. This paragraph does not preclude a party from seeking equitable relief from a court of competent jurisdiction. 17. ATTORNEY'S
FEES: A Buyer, Seller, Listing Broker, Other Broker, or escrow agent who prevails in any legal proceeding related to this contract is
entitled to recover reasonable attorney's fees and all costs of such proceeding. 18. ESCROW: A. ESCROW: The escrow agent is not (i) a
party to this contract and does not have liability for the performance or nonperformance of any party to this contract, (ii) liable for
interest on the earnest money and (iii) liable for the loss of any earnest money caused by the failure of any financial institution in
which the earnest money has been deposited unless the financial institution is acting as escrow agent. B. EXPENSES: At closing, the earnest
money must be applied first to any cash down payment, then to Buyer's Expenses and any excess refunded to Buyer. If no closing occurs,
escrow TXR 1607 Initialed for identification by Buyer and Seller TREC NO. 9-13 Produced with zipForm® by zipLogix 18070 Fifteen Mile
Road, Fraser, Michigan 48026 www.zipLogix.com American Drive

    	 

    	 

    

 

Contract Concerning 1900 & 1901 American Dr Lago Vista, TX 78645
Page 6 of 9 2-12-18 (Address of Property) agent may: (i) require a written release of liability of the escrow agent from all parties,
(ii) require payment of unpaid expenses incurred on behalf of a party, and (iii) only deduct from the earnest money the amount of unpaid
expenses incurred on behalf of the party receiving the earnest money. C. DEMAND: Upon termination of this contract, either party or the
escrow agent may send a release of earnest money to each party and the parties shall execute counterparts of the release and deliver same
to the escrow agent. If either party fails to execute the release, either party may make a written demand to the escrow agent for the
earnest money. If only one party makes written demand for the earnest money, escrow agent shall promptly provide a copy of the demand
to the other party. If escrow agent does not receive written objection to the demand from the other party within 15 days, escrow agent
may disburse the earnest money to the party making demand reduced by the amount of unpaid expenses incurred on behalf of the party receiving
the earnest money and escrow agent may pay the same to the creditors. If escrow agent complies with the provisions of this paragraph,
each party hereby releases escrow agent from all adverse claims related to the disbursal of the earnest money. D. DAMAGES: Any party who
wrongfully fails or refuses to sign a release acceptable to the escrow agent within 7 days of receipt of the request will be liable to
the other party for (i) damages; (ii) the earnest money; (iii) reasonable attorney's fees; and (iv) all costs of suit. E. NOTICES: Escrow
agent's notices will be effective when sent in compliance with Paragraph 21. Notice of objection to the demand will be deemed effective
upon receipt by escrow agent. 19. REPRESENTATIONS: All covenants, representations and warranties in this contract survive closing. If
any representation of Seller in this contract is untrue on the Closing Date, Seller will be in default. Unless expressly prohibited by
written agreement, Seller may continue to show the Property and receive, negotiate and accept back up offers. 20. FEDERAL TAX REQUIREMENTS:
If Seller is a "foreign person," as defined by Internal Revenue Code and its regulations, or if Seller fails to deliver an affidavit
or a certificate of non- foreign status to Buyer that Seller is not a "foreign person," then Buyer shall withhold from the sales
proceeds an amount sufficient to comply with applicable tax law and deliver the same to the Internal Revenue Service together with appropriate
tax forms. Internal Revenue Service regulations require filing written reports if currency in excess of specified amounts is received
in the transaction. 21. NOTICES: All notices from one party to the other must be in writing and are effective when mailed to, hand-delivered
at, or transmitted by fax or electronic transmission as follows: To Buyer at: c/o Ted Kasper To Seller at: Northport Harbor LLC C/O Crystal@AustinRealEstate.com
Phone: (512)468-0449 Phone: (512)344-6000 Fax: Fax: E-mail: ted@austinrealestate.com E-mail: 22. AGREEMENT OF PARTIES: This contract contains
the entire agreement of the parties and cannot be changed except by their written agreement. Addenda which are a part of this contract
are (check all applicable boxes): Third Party Financing Addendum Seller Financing Addendum Addendum for Property Subject to Mandatory
Membership in a Property Owners Association Buyer's Temporary Residential Lease Seller's Temporary Residential Lease Addendum for Reservation
of Oil, Gas and Other Minerals Addendum for "Back-Up" Contract Addendum Concerning Right to Terminate Due to Lender's Appraisal
Addendum for Coastal Area Property Environmental Assessment, Threatened or Endangered Species and Wetlands Addendum Addendum for Property
Located Seaward of the Gulf Intracoastal Waterway Addendum for Sale of Other Property by Buyer Addendum for Property in a Propane Gas
System Service Area X Other (list): Intermediary Relationship Notice special addendum provisions TXR 1607 Initialed for identification
by Buyer and Seller TREC NO. 9-13 Produced with zipForm® by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zipLogix.com
American Drive

    	 

    	 

    

 

Contract Concerning 1900 & 1901 American Dr Lago Vista, TX 78645
Page 7 of 9 2-12-18 (Address of Property) 23. TERMINATION OPTION: For nominal consideration, the receipt of which is hereby acknowledged
by Seller, and Buyer's agreement to pay Seller $10,000.00 (Option Fee) within 3 days after the Effective Date of this contract, Seller
grants Buyer the unrestricted right to terminate this contract by giving notice of termination to Seller within 75 days after the Effective
Date of this contract (Option Period). Notices under this paragraph must be given by 5:00 p.m. (local time where the Property is located)
by the date specified. If no dollar amount is stated as the Option Fee or if Buyer fails to pay the Option Fee to Seller within the time
prescribed, this paragraph will not be a part of this contract and Buyer shall not have the unrestricted right to terminate this contract.
If Buyer gives notice of termination within the time prescribed, the Option Fee will not be refunded; however, any earnest money will
be refunded to Buyer. The Option Fee X will will not be credited to the Sales Price at closing. Time is of the essence for this paragraph
and strict compliance with the time for performance is required. 24. CONSULT AN ATTORNEY BEFORE SIGNING: TREC rules prohibit real estate
license holders from giving legal advice. READ THIS CONTRACT CAREFULLY. Buyer's Attorney is: Advised Seller's Attorney is: Phone: Fax:
E-mail: Phone: Fax: E-mail: EXECUTED the 25th day of February , 2021 (Effective Date). (BROKER: FILL IN THE DATE OF FINAL ACCEPTANCE.)
2/16/2021 Buyer Seller S G Blocks Inc. By Paul Galvin Northport Harbor LLC Buyer Seller The form of this contract has been approved by
the Texas Real Estate Commission. TREC forms are intended for use only by trained real estate license holders. No representation is made
as to the legal validity or adequacy of any provision in any specific transactions. It is not intended for complex transactions. Texas
Real Estate Commission, P.O. Box 12188, Austin, TX 78711-2188, (512) 936-3000 (http://www.trec.texas.gov) TREC NO. 9-13. This form replaces
TREC NO. 9-12. TXR 1607 TREC NO. 9-13 American Drive Produced with zipForm® by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan
48026 www.zipLogix.com

    	 

    	 

    

 

Contract Concerning 1900 & 1901 American Dr Lago Vista, TX 78645
Page 8 of 9 2-12-18 (Address of Property) BROKER INFORMATION (Print name(s) only. Do not sign) AustinRealEstate.com 567272 Other Broker
Firm License No. Listing Broker Firm License No. represents Buyer only as Buyer's agent Seller as Listing Broker's subagent represents
X Seller and Buyer as an intermediary Seller only as Seller's agent Crystal Olenbush 547442 Associate's Name License No. Listing Associate's
Name License No. crystal@austinrealestate.com (512)422-3452 Associate's Email Address Phone Listing Associate's Email Address Phone Jim
Olenbush Licensed Supervisor of Associate License No. Licensed Supervisor of Listing Associate License No. 3103 Bee Cave Rd Suite 102
(512)344-6000 Other Broker's Address Phone Listing Broker's Office Address Phone Austin TX 78746 City State Zip City State Zip Ted Kasper
549279 Selling Associate's Name License No. ted@AustinRealEstate.com (512)468-0449 Selling Associate's Email Address Phone Jim Olenbush
454914 Licensed Supervisor of Selling Associate License No. 3103 Bee Cave Rd Suite 102 Selling Associate's Office Address Austin TX 78746
City State Zip Listing Broker has agreed to pay Other Broker 3.000% of the total sales price when the Listing Broker's fee is received.
Escrow agent is authorized and directed to pay Other Broker from Listing Broker's fee at closing. TXR 1607 Produced with zipForm®
by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zipLogix.com TREC NO. 9-13 American Drive

    	 

    	 

    

 

Contract Concerning 1900 & 1901 American Dr Lago Vista, TX 78645
Page 9 of 9 2-12-18 (Address of Property) OPTION FEE RECEIPT Receipt of $(Option Fee) in the form of is acknowledged. Seller or Listing
Broker Date EARNEST MONEY RECEIPT Receipt of $Earnest Money in the form of is acknowledged. Escrow Agent Received by Email Address Date/Time
Address Phone City State Zip Fax CONTRACT RECEIPT Receipt of the Contract is acknowledged. Escrow Agent Received by Email Address Date
Address Phone City State Zip Fax ADDITIONAL EARNEST MONEY RECEIPT Receipt of $additional Earnest Money in the form of is acknowledged.
Escrow Agent Received by Email Address Date/Time Address Phone City State Zip Fax

    	 

    	 

    

 

INTERMEDIARY RELATIONSHIP NOTICE USE OF THIS FORM BY PERSONS WHO ARE
NOT MEMBERS OF THE TEXAS ASSOCIATION OF REALTORS®, INC. IS NOT AUTHORIZED. ©Texas Association of REALTORS®, Inc. 2004 To:
From: Re: Date: Northport Harbor LLC (Seller or Landlord) and S G Blocks Inc. (Prospect) AustinRealEstate.com (Broker's Firm) 1900 &
1901 American Dr Lago Vista, TX 78645 (Property) July 22, 2020 A. Under this notice, "owner" means the seller or landlord of
the Property and "prospect" means the above-named prospective buyer or tenant for the Property. B. Broker's firm represents
the owner under a listing agreement and also represents the prospect under a buyer/tenant representation agreement. C. In the written
listing agreement and the written buyer/tenant representation agreement, both the owner and the prospect previously authorized Broker
to act as an intermediary if a prospect who Broker represents desires to buy or lease a property that is listed by the Broker. When the
prospect makes an offer to purchase or lease the Property, Broker will act in accordance with the authorizations granted in the listing
agreement and in the buyer/tenant representation agreement. D. Broker will will not appoint licensed associates to communicate with, carry
out instructions of, and provide X opinions and advice during negotiations to each party. If Broker makes such appointments, Broker appoints:
Crystal Olenbush to the owner; and Ted Kasper to the prospect. E. By acknowledging receipt of this notice, the undersigned parties reaffirm
their consent for broker to act as an intermediary. F. Additional information: (Disclose material information related to Broker's relationship
to the parties, such as personal relationships or prior or contemplated business relationships.) The undersigned acknowledge receipt of
this notice 2/16/2021 Prospect Date 2/24/2021 Seller or Landlord Date Northport Harbor LLC S G Blocks Inc. By Paul Galvin Seller or Landlord
Date Prospect Date (TXR-1409) 1-7-04 Page 1 of 1 AustinRealEstate.com, 3103 Bee Cave Rd Suite 102 Austin TX 78746 Phone: 5124680449 Fax:
.. American Drive Ted Kasper Produced with zipForm® by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zipLogix.com

    	 

    	 

    

 

SPECIAL PROVISIONS ADDENDUM TO TREC FORM COMMERCIAL UNIMPROVED PROPERTY
CONTRACT Seller: Northport Harbor, LLC Buyer: SG Blocks Inc. The terms, conditions, provisions, and agreements set forth in this Addendum
shall prevail over the terms, conditions, provisions and agreements set forth in the Printed Form of Commercial Unimproved Property Contract
(collectively, “Contract”) to which this Addendum is attached to the extent that they conflict. 1. AS IS Conveyance: a. Buyer
acknowledges that (i) Buyer has made, or will make during the inspection period provided herein and prior to the closing of the sale contemplated
hereby, all physical, financial, and other examinations relating to the acquisition of the Property hereunder as Buyer deems necessary
or prudent and will acquire the same solely on the basis of such examinations, (ii) in entering into this Contract, Buyer intends to rely
solely on such examinations of the Property, and (iii) Buyer is acquiring the Property “AS IS,” “WHERE IS,” and
“WITH ALL FAULTS.” No patent or latent physical condition of the Property, whether or not now known or discovered or discoverable
through inspection or not, shall affect the rights of either party hereto. No agreement, warranty, or representation, unless expressly
contained herein, shall bind Seller. b. NOTWITHSTANDING ANYTHING HEREIN TO THE CONTRARY, BUYER HEREBY ACKNOWLEDGES, REPRESENTS, WARRANTS,
COVENANTS, AND AGREES THAT AS A MATERIAL INDUCEMENT TO SELLER TO EXECUTE AND ACCEPT THIS CONTRACT AND IN CONSIDERATION OF THE PERFORMANCE
BY SELLER OF SELLER’S DUTIES AND OBLIGATIONS UNDER THIS CONTRACT, SELLER AND ANYONE ACTING ON BEHALF OF SELLER HAVE NOT MADE, DO
NOT MAKE, AND SPECIFICALLY NEGATE AND DISCLAIM ANY REPRESENTATIONS, WARRANTIES, OR GUARANTIES OF ANY KIND, TYPE, CHARACTER, OR NATURE
WHATSOEVER, WHETHER EXPRESS OR IMPLIED, ORAL OR WRITTEN, PAST, PRESENT, FUTURE, OR OTHERWISE, OF, AS TO, CONCERNING, OR WITH RESPECT TO
THE PROPERTY, INCLUDING WITHOUT LIMITATION: (i) THE EXISTENCE OF HAZARDOUS MATERIALS OR SUBSTANCES OR ANY ENVIRONMENTAL CONDITIONS UPON
OR AFFECTING THE PROPERTY OR ANY PORTION THEREOF; (ii) USAGES OF ADJOINING PROPERTIES; (iii) DEVELOPMENT RIGHTS, ENTITLEMENTS, AND EXTRACTIONS;
(iv) THE ABILITY OF BUYER TO REZONE THE PROPERTY OR CHANGE THE USE OF THE PROPERTY; (v) THE EXISTENCE AND POSSIBLE LOCATION OF ANY UNDERGROUND
UTILITIES; (vi) THE CONDITION OR USE OF THE PROPERTY OR COMPLIANCE OF THE PROPERTY WITH ANY OR ALL PAST, PRESENT, OR FUTURE FEDERAL, STATE,
OR LOCAL ORDINANCES, RULES, REGULATIONS, OR LAWS, BUILDING, FIRE, OR ZONING ORDINANCES, CODES, OR OTHER SIMILAR LAWS; (vii) THOSE AS TO
CONDITION, MERCHANTABILITY, TENANTABILITY, HABITABILITY, SUITABILITY, AND FITNESS FOR A PARTICULAR PURPOSE OR USE; OR (viii) THE ADEQUACY
AND ACCURACY OF ANY

    	 

    	 

    

 

DESCRIPTION OF THE PROPERTY. BUYER HEREBY ACKNOWLEDGES AND AGREES THAT
BUYER HAS AND WILL RELY SOLELY ON THE INSPECTIONS, INVESTIGATIONS, EXAMINATIONS, JUDGMENT, AND EXPERTISE OF BUYER IN ACQUIRING THE PROPERTY,
AND NOT UPON ANY ALLEGED WARRANTIES, REPRESENTATIONS, OR GUARANTIES OF SELLER OR ANYONE ACTING FOR OR ON BEHALF OF SELLER. BUYER FURTHER
ACKNOWLEDGES AND AGREES THAT ANY DUE DILIGENCE MATERIALS AND OTHER INFORMATION MADE AVAILABLE TO BUYER OR PROVIDED OR TO BE PROVIDED BY
OR ON BEHALF OF SELLER WITH RESPECT TO THE PROPERTY FROM THIRD PARTY SOURCES WAS OBTAINED FROM A VARIETY OF SOURCES AND THAT SELLER HAS
NOT MADE ANY INDEPENDENT INVESTIGATION OR VERIFICATION OF SUCH INFORMATION AND MAKES NO REPRESENTATIONS AS TO THE ACCURACY OR COMPLETENESS
OF SUCH INFORMATION. SELLER IS NOT LIABLE OR BOUND IN ANY MANNER BY ANY ORAL OR WRITTEN STATEMENTS, REPRESENTATIONS, OR INFORMATION PERTAINING
TO THE PROPERTY OR THE OPERATION THEREOF FURNISHED BY ANY REAL ESTATE BROKER, AGENT, EMPLOYEE, SERVANT, OR OTHER PERSON. THE PROVISIONS
OF THIS PARAGRAPH SHALL SURVIVE THE CLOSING. c. THE CLOSING OF THE PURCHASE OF THE PROPERTY BY BUYER HEREUNDER SHALL BE CONCLUSIVE EVIDENCE
THAT: (i) BUYER HAS FULLY AND COMPLETELY INSPECTED (OR HAS CAUSED TO BE FULLY AND COMPLETELY INSPECTED) THE PROPERTY; (ii) BUYER ACCEPTS
THE PROPERTY AS BEING IN GOOD AND SATISFACTORY CONDITION AND SUITABLE FOR BUYER’S PURPOSES; AND (iii) BUYER IS ASSUMING ALL RISKS
WITH RESPECT TO THE PROPERTY INCLUDING, WITHOUT LIMITATION, THE ADEQUACY AND ACCURACY OF ANY DESCRIPTION OF THE PROPERTY, THE CONDITION,
VALUE AND MARKETABILITY OF THE PROPERTY, AND ALL OTHER ASPECTS AND CHARACTERISTICS OF THE PROPERTY WHICH MAY AFFECT BUYER’S PROPOSED
DEVELOPMENT, USE, AND OPERATION OF THE PROPERTY. THE PROVISIONS OF THIS PARAGRAPH SHALL SURVIVE THE CLOSING. 2. Removal of Blocks. No
later than thirty (30) days after the Closing, Seller shall be allowed to remove the stone blocks located on the Property. 3. 1031 Transaction.
Buyer understands and agrees that Seller may complete this transaction as part of an exchange of like-kind properties in accordance with
Section 1031 of the Internal Revenue Code, as amended. Buyer agrees to take all reasonable steps requested by Seller so that the sale
is consummated as an exchange that complies with the provisions of Section 1031. The other provisions of the Contract will not be affected
in the event the potential exchange does not occur. 4. Breach by Seller. If Seller breaches the Contract and fails to close, Buyer’s
sole remedy shall be to sue for specific performance no later than September 1, 2021. 5. Increase in Option Fee. If Buyer has not terminated
the Contract on or before April 1, 2021, Ten Thousand Dollars ($10,000.00) of the Earnest Money shall be added to the Option Fee (so that
the Option Fee will then be Twenty Thousand Dollars ($20,000.00)) and the entire

    	 

    	 

    

 

Option Fee shall be released to Seller by the Title Company. At Closing,
if Closing occurs, the Option Fee shall be credited to the Purchase Price. 6. Return of Earnest Money. Should the buyer timely exercise
its right to terminate the Contract, the earnest money deposit will be returned to the Buyer 7 to 10 days after it receives the termination
less the Option Fee which, if it has not already been paid, shall be paid to Seller. 7. Title Insurance. The title insurance shall be
effective at closing. 8. No Other Amendments. Other than as amended herein, the Contract shall remain as originally written and in full
force and effect. Defined terms used but not defined herein shall have the same meaning as those in the Contract. 9. Confidentiality.
Seller and Buyer agree to keep the identity of the parties, the terms of the Contract and its existence strictly confidential and will
disclose such information only to their respective counsel, accountants and brokers; to the Title Company and such other persons as are
necessary to complete the transaction contemplated hereby (and each such person shall be requested to keep such information confidential
and to no other persons unless such disclosure is compelled by law, court or governmental order. 10. Counterparts: Facsimile Signatures.
The Contract may be executed in multiple counterparts, each of which counterpart shall be deemed an original and all of which, when taken
together, shall constitute one and the same agreement. The delivery of execution counterparts of this Contract by facsimile transmission
or email shall have the force and effect of original signatures. [Signature Page Follows]

    	 

    	 

    

 

AGREED TO effective as of the Effective Date of the Contract. SELLER:
Northport Harbor, LLC By: Shelley B. Marmon, Managing Member BUYER: 2/25/2021 Paul Galvin, S G Blocks Inc.EX-4.6

 EXHIBIT 4.6 

DESCRIPTION OF SECURITIES 
  

	(a)	 Common Stock, $0.001 par value per share 

All shares of our common stock have equal rights as to earnings, assets, dividends and voting and are duly authorized, validly issued, fully
paid and nonassessable. Shares of our common stock have no preemptive, exchange, conversion or redemption rights and are freely transferable, except where their transfer is restricted by federal and state securities laws or by contract. 

Distributions may be paid to the holders of our common stock if, as and when declared by our Board of Directors out of funds legally available
therefor. In the event of our liquidation, dissolution or winding up, each share of our common stock would be entitled to share ratably in all of our assets that are legally available for distribution after we pay all debts and other liabilities and
subject to any preferential rights of holders of our preferred stock, if any preferred stock is outstanding at such time. In accordance with the certificates of designation for our preferred stock, for so long as any shares of our preferred stock
are outstanding, we will not: (x) declare any dividend or other distribution (other than a dividend or distribution paid in shares of our common stock) in respect of our common stock, (y) call for redemption, redeem, purchase or otherwise
acquire for consideration any shares of our common stock, or (z) pay any proceeds of our liquidation in respect of our common stock, unless, in each case, (A) immediately thereafter, we have asset coverage for our senior securities (as
calculated in accordance with the Investment Company Act of 1940, as amended (the “1940 Act”)) equal to at least 150% after deducting the amount of such dividend or distribution or redemption or purchase price or liquidation proceeds and
(B) all cumulative dividends and distributions on all shares of our outstanding preferred stock due on or prior to the date of the applicable dividend, distribution, redemption, purchase or acquisition have been declared and paid. 

Each share of our common stock is entitled to one vote on all matters submitted to a vote of stockholders, including the election of
directors. Except as provided with respect to any other class or series of stock, the holders of our common stock will possess exclusive voting power. Except as otherwise provided by statute, by the rules of the Nasdaq Global Select Market
(“Nasdaq”) or other applicable stock exchange, by our certificate of incorporation or by our bylaws, in all matters other than the election of directors, the affirmative vote of the majority of shares present or represented by proxy at a
meeting of our stockholders and entitled to vote will be the act of the stockholders. Except as otherwise provided by statute, by our certificate of incorporation or by our bylaws, directors shall be elected by a plurality of the votes of the shares
present or represented by proxy at a meeting of our stockholders and entitled to vote on the election of directors. Our common stock is listed on Nasdaq under the ticker symbol “GAIN.” 

 

	(b)	 Preferred Stock, $0.001 par value per share 

 

	 	•	 	 6.375% Series E Cumulative Term Preferred Stock due 2025 (“Series E Term Preferred Stock”)

 Of the 10,000,000 shares of our capital stock designated as preferred stock, 5,990,000 are designated as Series E
Term Preferred Stock. All shares of our preferred stock are duly authorized, validly issued, fully paid and nonassessable. Shares of our preferred stock have no preemptive, exchange or conversion rights and are freely transferable, except where
their transfer is restricted by federal and state securities laws or by contract. Shares of our Series E Term Preferred Stock are traded on Nasdaq under the trading symbols “GAINL.” 

The following is a summary of the material terms of our preferred stock. The following summary is qualified in its entirety by reference
to the certificate of designation, which is filed as an exhibit to our annual report on Form 10-K. 
 Dividend
Rights 
 The holders of Series E Term Preferred Stock are entitled to monthly dividends in the amount of 6.375% per annum on the
stated liquidation preference of Series E Term Preferred Stock, or $0.13281250 per share. 
 In the event that we fail to pay dividends
on or to redeem the Series E Term Preferred Stock when required, the dividend rate with respect to such series shall increase by 3% per annum until such default is cured. 

Voting Rights 
 The holders of our
preferred stock are entitled to one vote per share and do not have cumulative voting. The holders of our preferred stock generally vote together with the holders of our common stock, except that the holders of our preferred stock have the right
to elect two of our directors. Furthermore, during any period that we owe accumulated dividends, whether or not earned or declared, on any preferred stock equal to at least two full years of dividends, the holders of our preferred stock will
have the right to elect a majority of our Board of Directors. 

 Liquidation Rights 

In the event of a dissolution, liquidation or winding up of our affairs, our preferred stock has a liquidation preference over our common stock
equal to $25 per share, plus all unpaid dividends and distributions accumulated to (but excluding) the date fixed for payment on such shares. 

Redemption 
 The Series E Term Preferred
Stock has a mandatory redemption date of August 31, 2025. However, if we fail to maintain asset coverage as calculated in accordance the 1940 Act of at least 150%, we will be required to redeem a portion of our outstanding preferred stock to
enable us to meet the required asset coverage at a price per share equal to the liquidation preference plus all accumulated and unpaid dividends and distributions. In the event of a change of control, we will also be required to redeem the
shares of our preferred stock at a price per share equal to the liquidation preference plus all accumulated and unpaid dividends and distributions. 

We have the option to redeem shares of Series E Term Preferred Stock at any time, with no redemption premium. 

 

	(c)	 Debt Securities

 

	 	•	 	 5.00% Notes due 2026 (the “2026 Notes”) 

The 2026 Notes were issued under a base indenture, dated as of May 22, 2020, and a second supplemental indenture thereto, dated as of
March 2, 2021, each entered into between us and UMB Bank, National Association, as trustee (collectively, the “indenture”). The 2026 Notes will mature on May 1, 2026. The principal payable at maturity will be 100% of the
aggregate principal amount. The interest rate of the 2026 Notes is 5.00% per year and will be paid every February 1, May 1, August 1 and November 1, commencing May 1, 2021, and the regular record dates for interest payments
will be every January 15, April 15, July 15 and October 15, commencing April 15, 2021, as the case may be, next preceding the applicable interest payment date. The 2026 Notes are listed on Nasdaq under the symbol
“GAINN.” 
 The 2026 Notes were issued in denominations of $25 and integral multiples of $25 in excess thereof. The 2026 Notes are
not be subject to any sinking fund and holders of the 2026 Notes do not have the option to have the 2026 Notes repaid prior to the stated maturity date. 

The following is a summary description of the material terms of the 2026 Notes and the indenture. The following summary is qualified in its
entirety by reference to the indenture, the components of which are attached as exhibits to this Annual Report. 
 Covenants 

In addition to standard covenants relating to payment of principal and interest, maintaining an office where payments may be made or securities
can be surrendered for payment and related matters, the following covenants apply to the Notes: 
  

	 	•	 	 We agree that for the period of time during which 2026 Notes are outstanding, we will not violate
Section 18(a)(1)(A) as modified by Section 61(a)(2) of the 1940 Act or any successor provisions, whether or not we continue to be subject to such provisions of the 1940 Act, whether or not we continue to be subject to such provisions of
the 1940 Act, but giving effect, in either case, to any exemptive relief granted to us by the SEC. 

  

	 	•	 	 We agree that for the period of time during which 2026 Notes are outstanding, we will not declare any dividend
(except a dividend payable in stock of the Company), or declare any other distribution, upon a class of our capital stock, or purchase any such capital stock, unless, in every such case, at the time of the declaration of any such dividend or
distribution, or at the time of any such purchase, we have an asset coverage (as defined in the 1940 Act) of at least the threshold specified under Section 18(a)(1)(B) as modified by Section 61(a)(2) of the 1940 Act or any successor
provisions thereto of the 1940 Act, after deducting the amount of such dividend, distribution or purchase price, as the case may be, and giving effect, in each case, to any no-action relief granted
by the SEC to another BDC and upon which we may reasonably rely (or to us if we determine to seek such similar no-action or other relief) permitting the BDC to declare any cash dividend or
distribution notwithstanding the prohibition contained in Section 18(a)(1)(B) as modified by Section 61(a)(2) of the 1940 Act, to maintain such BDC’s status as a RIC under Subchapter M of the Code. 

	 	•	 	 If, at any time, we are not subject to the reporting requirements of Sections 13 or 15(d) of the Securities
Exchange Act of 1934, as amended, to file any periodic reports with the SEC, we agree to furnish to holders of the 2026 Notes and the trustee, for the period of time during which the 2026 Notes are outstanding, our audited annual consolidated
financial statements, within 90 days of our fiscal year end, and unaudited interim consolidated financial statements, within 45 days of our fiscal quarter end (other than our fourth fiscal quarter). All such financial statements will be prepared, in
all material respects, in accordance with applicable GAAP. 

 Optional Redemption 

The 2026 Notes may be redeemed in whole or in part at any time or from time to time at our option on or after March 1, 2023, upon not less
than 30 days nor more than 60 days written notice by mail prior to the date fixed for redemption thereof, at a redemption price of 100% of the outstanding principal amount of the 2026 Notes to be redeemed plus accrued and unpaid interest payments
otherwise payable thereon for the then-current quarterly interest period accrued to, but excluding, the date fixed for redemption. 
 Conversion and
Exchange 
 The 2026 Notes are not convertible into or exchangeable for other securities. 

Events of Default 
 The term “Event
of Default” in respect of the 2026 Notes means any of the following: 
  

	 	•	 	 We do not pay the principal of any 2026 Note when due and payable at maturity; 

 

	 	•	 	 We do not pay interest on any Note when due and payable, and such default is not cured within 30 days of its due
date; 

  

	 	•	 	 We remain in breach of any other covenant in respect of the 2026 Notes for 60 days after we receive a written
notice of default stating we are in breach (the notice must be sent by either the trustee or holders of at least 25% of the principal amount of the outstanding 2026 Notes); 

 

	 	•	 	 We file for bankruptcy or certain other events of bankruptcy, insolvency or reorganization occur and remain
undischarged or unstayed for a period of 60 days; or 

  

	 	•	 	 On the last business day of each of twenty-four consecutive calendar months, the 2026 Notes have an asset
coverage (as such term is defined in the 1940 Act) of less than 100%. 

 An Event of Default for the 2026 Notes may, but
does not necessarily, constitute an Event of Default for any other series of debt securities issued under the same or any other indenture. The trustee may withhold notice to the holders of the 2026 Notes of any default, except in the payment of
principal or interest, if it in good faith considers the withholding of notice to be in the best interests of the holders. 
 Remedies if an Event of
Default Occurs 
 If an Event of Default has occurred and is continuing, the trustee or the holders of not less than 25% in principal
amount of the 2026 Notes may declare the entire principal amount of all the 2026 Notes to be due and immediately payable, but this does not entitle any holder of 2026 Notes to any redemption payout or redemption premium. This is called a declaration
of acceleration of maturity. Except in cases of default, where the trustee has some special duties, the trustee is not required to take any action under the indenture at the request of any holders unless the holders offer the trustee protection from
expenses and liability reasonably satisfactory to it (called an “indemnity”). 
 Defeasance and Covenant Defeasance 

The 2026 Notes are subject to defeasance by us. “Defeasance” means that, by depositing with a trustee an amount of cash and/or
government securities sufficient to pay all principal and interest, if any, on the 2026 Notes when due and satisfying any additional conditions required under the indenture relating to the 2026 Notes, we will be deemed to have been discharged from
our obligations under the 2026 Notes. 
 The 2026 Notes are subject to covenant defeasance by us. In the event of a “covenant
defeasance,” upon depositing such funds and satisfying conditions similar to those for defeasance we would be released from certain covenants under the indenture relating to the 2026 Notes. The consequences to the holders of the 2026 Notes
would be that, while they would no longer benefit from certain covenants under the indenture, and while the 2026 Notes could not be accelerated for any reason, the holders of the 2026 Notes nonetheless could look to the Company for repayment of the
2026 Notes if there were a shortfall in the funds deposited with the trustee or the trustee is prevented from making a payment. 

 Ranking 

The 2026 Notes are our direct unsecured obligations and rank: 
  

	 	•	 	 pari passu with our existing and future unsecured, unsubordinated indebtedness; 

 

	 	•	 	 senior to our Series E Term Preferred Stock and any other series of preferred stock that we may issue in the
future; 

  

	 	•	 	 senior to any of our future indebtedness that expressly provides it is subordinated to the 2026 Notes;

  

	 	•	 	 effectively subordinated to all of our existing and future secured indebtedness (including indebtedness that is
initially unsecured to which we subsequently grant security), to the extent of the value of the assets securing such indebtedness; and 

  

	 	•	 	 structurally subordinated to all existing and future indebtedness and other obligations of any of our
subsidiaries and any other future subsidiaries of the Company, including, without limitation, borrowings under the Credit Facility. 

  

	(d)	 Provisions of our Certificate of Incorporation or Bylaws that may have the effect of delaying, deferring
or preventing a change of control 

 Classified Board of Directors 

Pursuant to our bylaws, as amended, our Board of Directors is divided into three classes of directors. Each class consists, as nearly as
possible, of one-third of the total number of directors, and each class has a three-year term. The holders of outstanding shares of any preferred stock are entitled, as a class, to the exclusion of the holders
of all other securities and classes of common stock, to elect two of our directors at all times (regardless of the total number of directors serving on the Board of Directors). We refer to these directors as the Preferred Directors. The holders of
outstanding shares of common stock and preferred stock, voting together as a single class, elect the balance of our directors. Any director elected to fill a vacancy shall serve for the remainder of the full term of the class in which the vacancy
occurred and until a successor is elected and qualified. Holders of shares of our stock have no right to cumulative voting in the election of directors. Consequently, at each annual meeting of our stockholders, the holders of a plurality of the
combined shares of common stock and preferred stock are able to elect all of the successors to the class of directors whose term expires at such meeting (other than the Preferred Directors, who will be elected by the holders of a plurality of the
preferred stock). 
 Our classified board could have the effect of making the replacement of incumbent directors more time consuming and
difficult. Because our directors may only be removed for cause, at least two annual meetings of stockholders, instead of one, will generally be required to effect a change in a majority of our Board of Directors. Thus, our classified board could
increase the likelihood that incumbent directors will retain their positions. The staggered terms of directors may delay, defer or prevent a tender offer or an attempt to change control of us or another transaction that might involve a premium price
for our common stock that might be in the best interest of our stockholders. 
 Removal of Directors 

Any director may be removed only for cause by the stockholders upon the affirmative vote of at least
two-thirds of all the votes entitled to be cast at a meeting called for the purpose of the proposed removal. The notice of the meeting shall indicate that the purpose, or one of the purposes, of the meeting is
to determine if the director shall be removed. 
 Business Combinations 

Section 203 of the Delaware General Corporation Law generally prohibits “business combinations” between us and an
“interested stockholder” for three years after the date of the transaction in which the person became an interested stockholder. In general, Delaware law defines an interested stockholder as any entity or person beneficially owning 15% or
more of the outstanding voting stock of the corporation and any entity or person affiliated with or controlling, or controlled by, the entity or person. These business combinations include: 

 

	 	•	 	 Any merger or consolidation involving the corporation and the interested stockholder; 

 

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

  

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

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

 Section 203 permits certain exemptions from its
provisions for transactions in which: 
  

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

  

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

  

	 	•	 	 On or subsequent to the date of the transaction, the business combination is approved by the board of directors
and authorized at an annual or special meeting of stockholders, and not by written consent, by the affirmative vote of at least 66 2/3% of the outstanding voting stock that is not owned by the interested stockholder. 

Merger; Amendment of Certificate of Incorporation 

Under Delaware law, we will not be able to amend our certificate of incorporation or merge with another entity unless approved by the
affirmative vote of stockholders holding at least a majority of the shares entitled to vote on the matter. 
 Advance Notice of Director Nominations and
New Business 
 Our bylaws provide that, with respect to an annual meeting of stockholders, nominations of persons for election to our
Board of Directors and the proposal of business to be considered by stockholders at the annual meeting may be made only: 
  

	 	•	 	 pursuant to our notice of the meeting; 

 

	 	•	 	 by our Board of Directors; or 

 

	 	•	 	 by a stockholder who was a stockholder of record both at the time of the provision of notice and at the time of
the meeting who is entitled to vote at the meeting and has complied with the advance notice procedures set forth in our bylaws. 

With respect to special meetings of stockholders, only the business specified in our notice of meeting may be brought before the meeting of
stockholders and nominations of persons for election to our Board of Directors may be made only: 
  

	 	•	 	 pursuant to our notice of the meeting; 

 

	 	•	 	 by our Board of Directors; or 

 

	 	•	 	 provided that our Board of Directors has determined that directors shall be elected at such meeting, by a
stockholder who was a stockholder of record both at the time of the provision of notice and at the time of the meeting who is entitled to vote at the meeting and has complied with the advance notice provisions set forth in our bylaws.

 Preferred Stock 

Our certificate of incorporation gives our Board of Directors the authority, without further action by stockholders, to issue shares of
preferred stock in one or more series and to fix the rights, preferences, privileges, qualifications and restrictions granted to or imposed upon such preferred stock, including dividend rights, conversion rights, voting rights, rights and terms of
redemption, and liquidation preference, any or all of which may be greater than the rights of the common stock. Thus, our Board of Directors could authorize the issuance of shares of preferred stock with terms and conditions which could have the
effect of delaying, deferring or preventing a transaction or a change in control that might involve a premium price for holders of our common stock or otherwise be in their best interest. The issuance of preferred stock could adversely affect the
voting power of holders of common stock and reduce the likelihood that such holders will receive dividend payments and payments upon liquidation, and could also decrease the market price of our common stock. 

Possible Anti-Takeover Effect of Certain Provisions of Delaware Law and of Our Certificate of Incorporation and Bylaws  

The business combination provisions of Delaware law, the provisions of our bylaws regarding the classification of our Board of Directors, the
Board of Directors’ ability to issue preferred stock with terms and conditions that could have a priority as to distributions and amounts payable upon liquidation over the rights of the holders of our common stock, and the advance notice
provisions of our bylaws could have the effect of delaying, deferring or preventing a transaction or a change in the control that might involve a premium price for holders of common stock or otherwise be in their best interest.

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