Document:

Exhibit 10.1

 

NAIDICH
WURMAN LLP

Attorneys at Law

 

111 Great Neck Road, Suite 214

Great Neck, New York 11021

 

Telephone (516) 498-2900

Facsimile (516) 466-3555

 

	Richard S. Naidich	Bernard S. Feldman
	Kenneth H. Wurman	Robert P. Johnson
	           ____	Of Counsel
	Judah A. Eisner	 

 

 

October 5, 2016

 

 

Via Email :
ethannelsonesq@gmail.com 

The Law Office of Ethan H. Nelson

4 Park Plaza, Suite 1025

Irvine, CA 92614

 

Attention: Ethan H. Nelson, Esq.

 

	 	Re:	Asher Enterprises, Inc. v. Global Visions Holding Inc., 
	 	 	Glen W. Carnes and John B. Jackson

 

Dear Mr. Nelson:

 

Pursuant to our various
telephone conversations and in accordance with your most recent emails of today, I have attached a Settlement Agreement and Releases
to be executed by your clients, Global Visions Holding Inc. (the "Company"), Glen W. Carnes ("Carnes") and
John B. Jackson ("Jackson") individually which will resolve the disputes among the parties including the resolution of
the pending Federal litigation.

 

It is my understanding,
reinforced by your emails, that this Settlement Agreement in its present form is acceptable to your clients and will serve to resolve
this matter once it is fully executed by all parties and the Settlement Sum of $100,000.00 is received by wire transfer into this
firm's Trust Account as provided for in the Agreement.

 

Kindly have the Company
and Carnes and Jackson execute the Agreement in the appropriate place and return it to our office via email, forwarding their
original signatures under separate cover and simultaneously wire transfer the Settlement Sum to this office's Trust Account.

 

We will hold these funds in
escrow pending receipt by you of a fully executed Agreement countersigned by our client Asher and forwarded by return email. I
trust that this letter is satisfactory for your purposes and the purposes of your Investor. Should the Investor have any additional
issues or questions, they are free to contact this office for clarification and verification.

 

I wish to
take this opportunity to thank you for your efforts and assistance in bringing this matter to conclusion.

 

Kindly acknowledge
receipt of this letter and Agreement which are being forwarded to you in PDF Format via email,

 

Very truly yours,

 

 

/s/ Bernard S. Feldman                                  

Bernard S. Feldman

Of Counsel

 

BSF/amp

Enclosure

Cc: Asher Enterprises Inc.

 

 

    	 	1	 

     

    

 

SETTLEMENT AGREEMENT
AND RELEASES

 

THIS SETTLEMENT AGREEMENT
(the "Agreement") is made and entered into October 5, 2016, by and among ASHER ENTERPRISES, INC. ("ASHER"),
a Delaware corporation, having a principal place of business at 111 Great Neck Road, Suite 216, Great Neck, New York 11021, on
one hand, and GLOBAL VISIONS HOLDING, INC. ("GLOBAL"), a Nevada corporation, having a principal place of business at
19200 Von Karman, Sixth Floor, Irvine, California 92612, GLEN W. CARNES ("CARNES"), residing at 8241 E. Skyview Drive,
Orange, California 92869, and JOHN B. JACKSON ("JACKSON"), residing at 5445 Sunset Lane, Yorba Linda, California 92886
(collectively the "Global Parties"), on the other hand (ASHER, GLOBAL, CARNES and JACKSON) shall be collectively referred
to herein as the "Settling Parties").

 

WHEREAS, on or about
February 26, 2013, Global executed a convertible promissory note (the "February Note") in the amount of $50,000.00 in
favor of Asher pursuant to a certain Securities Purchase Agreement (the "February SPA") which provided for, among other
things, conversion rights in and to Global's common stock, which amount was paid in full by various conversions in the aggregate
amount of $50,000.00 together with applicable interest; and

 

WHEREAS, on or about
April 5, 2013, Global executed a convertible promissory note (the "April Note") in the amount of $42,500.00 in favor
of Asher pursuant to a certain Securities Purchase Agreement (the "April SPA") which provided for, among other things,
conversion rights in and to Global's common stock which Note has been partially reduced by conversions totaling $25,980.00, leaving
an outstanding defaulted principal balance of $49,860.00; and

 

WHEREAS,
on or about May 1, 2013, Global executed a convertible promissory note (the "May Note") in the amount of $63,000,00 in
favor of Asher pursuant to a certain Securities Purchase Agreement (the "May SPA") which provided for, among other things,
conversion rights in and to Asher's common stock, no part of which has been paid leaving an outstanding principal balance of $63,000.00;
and

 

WHEREAS, on or about
August 2, 2013, Global executed a convertible promissory note (the "August Note") in the amount of $30,000.00 in favor
of Asher pursuant to a certain Securities Purchase Agreement (the "August SPA") which provided for, among other things,
conversion rights in and to Asher's common stock, no part of which has been paid leaving an outstanding principal balance of $30,000.00;
and

 

WHEREAS, on or about
October 28, 2013, Global executed a convertible promissory note (the "October Note") in the amount of $18,500.00 in favor
of Asher pursuant to a certain Securities Purchase Agreement (the "October SPA") which provided for, among other things,
conversion rights in and to Asher's common stock, no part of which has been paid leaving an outstanding principal balance of $18,500.00;
and

 

WHEREAS, on or about
March 12, 2014, Global executed a convertible promissory note (the "March Note") in the amount of $53,000.00 in favor
of Asher pursuant to a certain Securities Purchase Agreement (the "March SPA") which provided for, among other things,
conversion rights in and to Asher's common stock, no part of which has been paid leaving an outstanding principal balance of $53,000.00;
and

 

WHEREAS, Asher alleged
that Global defaulted in its obligations under the April Note, May Note, August Note, October Note and March Note (collectively
referred to as the "Notes") by (a) failing to deliver shares of common stock pursuant to Notices of Conversion; and/or
(b) the maturity dates on these Notes have passed
without payment to maintain a sufficient reserve of its shares of its common stock to permit the conversion of the principal of
the Note to Global's common stock; and/or (c) failed to comply with the reporting requirements of the Securities Act; and

 

    	 	2	 

     

    

 

WHEREAS, Asher has
alleged that based upon fraudulent misrepresentations of Global, Carnes and Jackson, Asher was induced to advance one or more of
these loans represented by the Notes; and

 

WHEREAS, based upon
the foregoing, Asher served a notice of default upon Global on or about April 16, 2014; and

 

WHEREAS, Asher commenced
an action entitled Asher Enterprises, Inc. v. Global Vision Holdings, Inc., Olen TY. Carnes and John B. Jackson, in the
United States District Court for the; Eastern District of New York, Case No. CV-14 2679 (the "Action") for enforcement
of the Notes; and

 

WHEREAS, Global failed
to interpose an Answer and is presently in default under the Action and Carnes and Jackson interposed pro sc Answers in
the Action denying the material allegations of the Complaint; and

 

WHEREAS, Asher and
the Global Parties have elected to amicably resolve the Action without further litigation;

 

NOW, THEREFORE,
in consideration of the mutual covenants and conditions contained herein, and for other good and valuable consideration, the sufficiency
and receipt of which is hereby acknowledged, it is stipulated and agreed, by and among the undersigned, that the claims asserted
in the Action are fully and finally settled upon the following terms and conditions:

 

1.        
Settlement Amount. In full and final settlement of all claims asserted, or which could have been asserted in the Action,
the Global Parties agreed to pay, and Asher agreed to accept, the aggregate sum of One Hundred Thousand Dollars ($100,000.00)
(the "Settlement Amount"), which shall be paid to Asher simultaneously with the execution of this Agreement. The payment
made hereunder shall be made by wire transfer forwarded pursuant to the following wire transfer instructions: Transit Routing
#021000021, Account #582911660 Naidich Wurman LLP, IOLA, JPMorgan Chase Bank, Bellmore, New York 11710.

 

2.       
Default. In the event that the Global Parties default in the timely payment of the Settlement Amount as provided
for in Paragraph 1 of this Agreement, Asher shall be entitled to the entry of judgments against Global for the relief demanded
in the causes of action contained in the Action, in the amount of $296,430.00. Global hereby acknowledges the validity of the
obligation and further acknowledges that there does not exist any viable or sustainable defense to the causes of action in the
Complaint. The causes of action contained in the Complaint filed in the action against Carnes and Jackson shall be severed and
continued, and PowerUp shall have the absolute right to pursue those causes of action in the event of default of this Agreement.

 

3.       

Dismissal of the Action.

 

Upon the execution of this
Agreement and Asher's timely receipt of the Settlement Amount, the Action shall be dismissed, with prejudice, as against the
Global Parties representing all of the Defendants in the Action. The Settling Parties agree to execute a Stipulation and
Order of Dismissal which will be filed with the Court upon timely payment of the Settlement Amount by Asher as provided for
in this Agreement.

 

4.        
Return of Notes to Global.

 

Upon the execution
of this Agreement, and Asher's receipt of the payment required by Paragraph 1, the Notes shall be deemed cancelled, and Asher
shall return the. original of the Notes to Global, which shall be marked as "Paid".

 

    	 	3	 

     

    

 

5.       
Releases.

 

		(a)	Asher's_
Release of the Global Parties. Upon the execution of this Agreement, and the receipt and clearance of the payment required
by Paragraph 1 of this Agreement, Asher releases and discharges the Global Parties, and their officers, directors, employees,
agents, successors, heirs, executors, administrators and assigns from all actions, cause of action, suits, debts, dues, sums of
money, accounts, reckonings, bonds, bills, specialties, covenants, contracts, controversies, agreements, promises, variances,
trespasses, damages, judgments, extents, executions, claims, and demands whatsoever, in law, admiralty or equity, against the
Global Parties, that Asher, its officers, directors, employees, predecessor and successor companies, and parent or subsidiary
companies, ever had or now have for, upon, or by reason of any matter or claim arising from the claims asserted in the Action,
or the facts underlying such claims, whether known or unknown, except for claims arising from Global's failure to perform its
obligations under this Settlement Agreement.

 

		(b)	Global Parties' Release of Asher. Upon the full execution of this
Agreement, the Global Parties release and discharge Asher, its officers, directors, employees, predecessor and successor companies,
and parent or subsidiary companies from all actions, cause of action, suits, debts, dues, sums of money, accounts, reckonings,
bonds, bills, specialties, covenants, contracts, controversies, agreements, promises, variances, trespasses, damages, judgments,
extents, executions,
claims, and demands whatsoever, in law, admiralty or equity, against Asher, that the Global Parties, their officers, directors,
employees, its officers, directors, employees, predecessor and successor companies, and parent or subsidiary companies, heirs,
executors, administrators and assigns ever had or now have for, upon, or by reason of any matter or claim arising from the claims
asserted in the Action, or the facts underlying these claims, including but not limited to any claims or debts for fees or expenses
allegedly incurred in connection with the Action, whether known or unknown.

 

6.       
Retention of Jurisdiction. The Settling Parties request that the Court in the Action shall retain jurisdiction to
enforce this Agreement. The scope of the Court's continuing jurisdiction will expire on or before December 31, 2016. The Stipulation
and Order of Dismissal filed pursuant to Paragraph 4 of this Agreement shall include the language contained in this paragraph.

 

7.       
Confidentiality. Except as necessary to enforce the terms of this Agreement, the Settling Parties agree to keep the terms of this Agreement and the facts underlying same confidential, and to not discuss the terms
of this Agreement and the facts underlying this action with any third parties. Nothing in this paragraph shall prevent any of the
Settling Parties from discussing or disclosing the terms of this Agreement in any required public tiling with any federal or state
agency, including the Securities and Exchange Commission, or from discussing or disclosing the terms of this Agreement with any
tax preparer, accountant or legal counsel consulted by such party, or pursuant to any lawfully issued subpoena from a court or
administrative agency.

 

8.       
Entire Agreement. This Agreement contains the entire agreement and understanding concerning the subject matter hereof
between the Settling Parties and supersedes and replaces all prior negotiations, proposed agreements, written or oral. Each of
the parties hereto acknowledges that neither any of the parties hereto, nor agents or counsel of any other party whomsoever, has
made any promise, representation or warranty whatsoever, express or implied, not contained herein concerning the subject hereto,
to induce it to execute this Agreement and acknowledges and warrants that it is not executing this Agreement in reliance on any
promise, representation or warranty not contained herein. This Agreement supersedes and revokes all previous negotiations, arrangements,
letters of intent, representations, whether oral or written, contracts and agreements between the Settling Parties, or their respective
representatives, including but not limited to the Securities Purchase Agreement and the Note, or any other person purporting to
represent the Settling Parties.

 

9.       
Modifications. This Agreement may not be modified or amended in any manner except by an instrument in writing specifically stating that it is a supplement, modification or amendment to the Agreement and
signed by each of the parties hereto.

 

    	 	4	 

     

    

 

10.       
Notice. Any and all notices provided pursuant to this Agreement shall be in writing and delivered by nationally recognized overnight
courier service, with a copy to counsel for the party being served, as set forth below:

 

(a)
lf to Asher:

 

Asher Enterprises, Inc.

111 Great Neck Road, Suite 216

Great Neck, NY 11021

 

With a courtesy copy by overnight courier to Counsel
for Asher:

 

Robert Johnson, Esq.

Naidich Wurman LLP

111 Great Neck Road, Suite 214

Great Neck, NY 11021

 

(b)
 If to Global

 

1920 Von Karman Avenue

Irvine, California 92612

 

(c) If to Carnes

 

8241 E. Skyview Drive

Orange, California 92869

 

(d) If to Jackson

 

5445 Sunset
Lane

Yorba Linda, California 92886

 

With a courtesy copy by overnight courier to Counsel
for the Global Parties

 

Ethan H. Nelson, Esq.

4 Park Plaza, Suite 1025

Irvine, California
92614

 

11.       
No Admission of Liability. It is expressly understood and agreed, as a condition hereof, that neither this Agreement,
nor an document referred to herein, nor the settlement set forth herein, nor any payment provided for herein, shall constitute
or be construed to be an admission by any party of any fault, wrongdoing or liability whatsoever concerning the Action, or as
evidencing or indicating in any degree an admission of the truth or correctness of the claims and allegations asserted by the parties
in this Action, except as provided in Paragraph 2 of this Agreement.

 

12.       
Specific Representations: 

 

		(a)	Asher represents and warrants that it has not sold, transferred or assigned the Notes, or any portion
thereof, and is holder thereof, and has full authority to enter into this Agreement.

 

		(b)	Global represents and warrants that it has nut sold, transferred or assigned the Notes, or any
portion thereof, and is the acknowledged obligor and has the full authority to enter into this Agreement.

 

		(c)	Jackson and Carnes represent and warrant that they have the full authority to enter into this Agreement.

 

    	 	5	 

     

    

 

13.       
General
Representations. All parties acknowledge and represent that: (a) they have read this Agreement; (b) they clearly
understand the Agreement and each of its terms; (c) they fully and unconditionally consent to the terms of this
Agreement; (d) they have had the benefit and advice of counsel of their own selection; (e) they have executed this Agreement,
freely, with knowledge, and without influence or duress; (f) they have not relied upon any other representations, either
written or oral, express or implied, made to them by any person; (g) the consideration received by them has been actual and
adequate; and (h) that they have the authority to enter into this Agreement.

 

14.        
Severability.
Should any provision of this Agreement be declared or be determined by any court or tribunal to be illegal or invalid,
the validity of the remaining parts, terms or provisions shall not be affected thereby and said illegal or invalid part, term
or provision shall be severed and deemed not to be part of this Agreement.

 

15.       
No Presumption
Against Drafter. This Agreement shall be construed without regard to any presumptions against the party causing the
same to be prepared.

 

16.       
No
Waiver. The failure to strictly enforce any or all of the terms of this Agreement by any party hereto shall not be
construed as and shall not result in a waiver of any party's right to strictly enforce any and all of the terms and
conditions of this Agreement, despite the prior failure to strictly enforce the terms and conditions of this Agreement.

 

17.       
Governing Law. This Agreement shall be governed by and construed pursuant to the laws of the State of New York,
without regard to its choice of law principles.

 

18.        
Counterparts. This Settlement. Agreement may be executed in any number of counterparts, each of which shall be deemed
to be an original, but all of which taken together shall constitute one and the same instrument. Facsimile or electronic signatures
shall be deemed original signatures for the purposes of this Settlement Agreement.

 

19.        Disparaging
Remarks. The Parties agree not to make, or otherwise disseminate in any way any, disparaging statements or information
of any kind whatsoever, whether oral or written, about any other Party including, without limitation with respect to the
business, financial condition, prospects, competence, integrity or ability of any other Party.

 

20.       
Further Assurances. Each of the Parties agree to execute and deliver such other and further instruments and documents and to perform such other acts as may be reasonably necessary or appropriate to effectuate the
terms and objectives of this Agreement.

 

21.       
Remedies. All rights and remedies under this Agreement are cumulative and shall be in addition to every other remedy
given hereunder, or now or hereafter existing at law or in equity including, without limitation, injunctive relief and specific
performance and no one of them shall be exclusive of any other.

 

 

	ASHER ENTERPRISES, INC.	 	GLOBAL VISIONS HOLDING, INC.	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	By:	/s/ Curt Kramer	 	By: 	/s/ Glen W. Carnes	 
		Name: Curt Kramer	 	 	Name:  Glen W. Carnes	 
		Title: Chief Executive Officer	 	 	Title: Chief Executive Officer	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	/s/ Glen W. Carnes	 
	 	 	 	Glen W. Carnes, Individually	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	/s/ John B. Jackson	 
	 	 	 	John B. Jackson, Individually	 

 

 

 

    	 	6Exhibit 10.1

 

ASSIGNMENT, ASSUMPTION AND OPTION AGREEMENT

 

THIS ASSIGNMENT, ASSUMPTION AND OPTION AGREEMENT
("Agreement") dated the 7th day of October, 2016, by and between BOREAL WATER COLLECTION, INC., 4496 Route
42, P.O. Box 220, Kiamesha Lake, NY 12751 ("Boreal") and CATSKILL SPRINGS LLC, 880 Hillsborough Boulevard, Hillsborough,
California 94010 ("Catskill").

 

WITNESSETH

 

WHEREAS, Boreal
is the contract vendee of a Contract of Sale entered into by BB Development XXVIII LLC, as Seller, and Heather Tilton, as Purchaser,
dated December 2, 2015 (the "Contract") for the purchase of real property (together with the artesian springs and associated
existing facilities thereon), also known as Shandalee Road, Livingston Manor, New York, being more particularly described as Town
of Callicoon Tax Map Parcel Nos. 4-1-11.1 and 14.1 (the "Property"), which Contract was assumed by Boreal in connection
with the exercise of its right of first refusal as contained in an Agreement between Leisure Time Spring Water, Inc., Alpine Farms,
Inc. and Andrew Krieger and Suri Levow Krieger dated November 1, 1995 and a copy of which is attached as Exhibit A (the "November
1, 1995 Agreement"), as the same has been amended from time to time, and

 

WHEREAS, Boreal desires to assign the Contract to Catskill,
and

 

WHEREAS, Catskill
desires to assume the Contract, and

 

WHEREAS, pursuant
to the November 1, 1995 Agreement, Leisure Time Spring Water, Inc. obtained the rights to draw water from the artisan springs and
utilized an existing spring water collection facility located on the Property, pursuant to the terms and provisions of such November
1, 1995 Agreement, and

 

WHEREAS, the terms
and provisions of the November 1, 1995 Agreement between Leisure Time Spring Water, Inc. and Alpine Farms, Inc. were modified by
Agreement of Modification dated April 25, 2000 and a copy of which is attached as Exhibit B (the "April 25, 2000 Modification
Agreement"), and

 

WHEREAS, Boreal
is the successor, assignee and official legal representative of Leisure Time Spring Water, Inc. and assumed the rights and obligations
of Leisure Time Spring Water, Inc., pursuant to the November 1, 1995 Agreement and the April 25, 2000 Modification Agreement, and

 

WHEREAS, Boreal
and BB Development XXVIII, LLC entered into an Agreement of Modification dated June 22, 2016 and a copy of which is attached as
Exhibit C (the "June 22, 2016 Modification Agreement"), whereby the terms and revisions of the November 1, 1995 Agreement
and the April 25, 2000 Modification Agreement were further modified, and

 

WHEREAS, Boreal
and Catskill desire to have Catskill assume the rights and obligations of Andrew J. Krieger and Suri Levow Krieger as set
forth in the November 1, 1995 Agreement, as amended by the April 25, 2000 Modification Agreement and the June 22, 2016
Modification Agreement, and Boreal and Catskill desire to have Boreal assume. the rights and obligations of Leisure Time as
set forth in the November 1, 1995 Agreement and the April 25, 2000 Modification Agreement, as modified and restated as
hereinafter provided, and

 

 

    	 	1	 

     

    

 

WHEREAS, the parties
desire to acknowledge and restate the terms and provisions of the June 22, 2016 Modification Agreement and Catskill desires to
assume the obligations of BB Development XXVIII, LLC contained therein;

 

NOW THEREFORE,
in consideration of the premises and the terms and provisions of this Agreement, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto hereby agree as follows:

 

1.       Boreal
hereby assigns to Catskill all of Boreal's right, title and interest in and to the Contract, in consideration of the payment by
Catskill to Boreal of the sum of One Hundred Fifty Thousand Dollars ($150,000.00) in good and collectible funds, which shall be
paid by Catskill to Boreal simultaneously with the closing on the Contract.

 

2.       The
November 1, 1995 Agreement is hereby modified as follows: Boreal shall have an option to repurchase the Property which is the subject
matter of the Contract, together with artesian springs, facilities and appurtenances, from Catskill for a period of one (1) year
from the date of this Agreement, for the sum of Seven Hundred Fifty Thousand Dollars ($750,000.00), plus reimbursement of all closing
and other transaction costs of Catskill with respect to its purchase of the Property pursuant to the Contract and in connection
with the repurchase by Boreal, provided that:

 

(a)       Any
late payment or non-payment by Boreal in connection with its payments for water pursuant to the November 1, 1995 Agreement, as
modified by the April 25, 2000 Modification Agreement and the June 22, 2016 Modification Agreement, shall result in a waiver by
Boreal of its option to repurchase. Notwithstanding the foregoing, Boreal shall have a grace period of ten (10) days to pay any
sums due and owing and, if not paid within such ten (10) day period, Catskill shall provide a default Notice, upon which Boreal
will have five (5) business days after receipt of such Notice to pay the sums due and owing;

 

(b)       In
the event that Boreal exercises its option to repurchase and then sells, exchanges or otherwise transfers the Property within
two (2) years after closing on the repurchase for a sum in excess of Seven Hundred Fifty Thousand Dollars ($750,000.00) (in cash
or other consideration), Boreal shall pay to Catskill upon the closing of such sale an amount equal to twenty-five percent (25%)
of the amount by which the sales price (in cash or other consideration) of such sale exceeds the amount of Seven Hundred Fifty
Thousand Dollars ($750,000.00); and

 

(c)       Other than as modified as set forth above, the
parties hereby restate all the terms and provisions of the November 1, 1995 Agreement and the April 25, 2000 Modification Agreement
(with Catskill assuming the rights and obligations of Andrew J. Krieger and Suri Levow Krieger as set forth therein and Boreal
assuming the rights and obligations of Leisure Time as set forth therein) and the June 22, 2016 Modification Agreement (with Catskill
assuming the obligations of BB Development XXVIII, LLC as set forth therein).

 

 

    	 	2	 

     

    

 

A Memorandum of Contract shall he prepared,
executed and acknowledged by the parties, and filed in the Sullivan County Clerk's Office with respect to such option pursuant
to Real Property Law §294, subd. 2.

 

3.       In
the event either party is required to or permitted to give notice to the other party pursuant to this Agreement ("Notice"),
Notice shall be given to the other party at the other party's address as set forth at the beginning of this Agreement by (a) personal
delivery to the other party, (b) certified mail, return receipt requested or (c) overnight mail or nationally recognized courier.
In the event that Notice is given pursuant to (a), Notice shall be deemed to have been received upon delivery. In the event that
Notice is given pursuant to (b), Notice shall be deemed to have been received five (5) days after mailing. In the event Notice
is given pursuant to (c), Notice shall be deemed to have been received one (1) day after mailing. In the event Notice is given
by Catskill, a copy of such Notice shall be simultaneously provided by Catskill to Billing Loughlin & Silver, LLP, 461 Broadway,
I'. 0. Box 1447, Monticello, NY 12701, by certified mail, return receipt requested. In the event Notice if given by Boreal, a copy
of such Notice shall be simultaneously provided by Boreal to Epstein, Englert, Staley & Coffey, 425 California Street, 17(11
Floor, San Francisco, California 94104, by certified mail, return receipt requested. Either party may change the address to which
Notice is to be given to it or to its attorneys (including the choice of its attorneys to whom Notice is to be given), by Notice
to the other party at its address as set forth at the beginning of this Agreement.

 

4.       The
parties agree to cooperate in good faith hereafter in taking all additional actions, including the preparation, execution and delivery
of all additional documentation, as are reasonably necessary or desirable in connection with carrying out the purposes of this
Agreement.

 

5.       This
Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof. All prior aueements,
understandings, and representations of the parties with respect to the subject matter hereof are merged herein and are of no further
force and effect except insofar as they are specifically and expressly set forth herein.

 

6.       This
Agreement is binding upon the successors and/or assigns of the parties hereto.

 

7.       This
Agreement may not be modified, amended, changed, altered, supplemented, waived, modified, terminated, rescinded and/or cancelled,
in whole or in part, except by writing executed by the parties hereto.

 

8.       This
Agreement is governed by and shall be construed solely in accordance with the internal laws of the State of New York applicable
to agreements entered into and to be wholly performed solely within the State of New York, without regard to conflict of law principles.

 

9.       In
the event of any dispute arising out of or referable to this Agreement, the dispute may only be commenced, maintained and prosecuted
in the Supreme Court of the State of New York, County of Sullivan, or the United States District Court for the Southern District
of New York, White Plains division, in which action both parties voluntarily waive their respective rights to request and/or receive
a trial by jury. Both parties hereby waive any claim of an inconvenient forum.

 

 

    	 	3	 

     

    

 

10. This Agreement may
be executed in counterparts, and the counterparts, taken and construed together, shall be deemed and construed as a single unified
instrument, enforceable as such. This Agreement may be executed by faxed, photocopied, electronic or e-mailed signatures, which
shall be deemed and construed as original signatures and enforceable against the parties and binding as such.

 

IN WITNESS WHEREOF,
the parties have set their hands the date and year first above written to this Agreement.

 

 

	 	BOREAL WATER COLLECTION, INC.
	 	 
	 	By: /s/ Francine Lavoie
	 	Francine LaVoie, CEO
	 	 
	 	 
	 	CATSKILL SPRINGS LLC
	 	 
	 	By: /s/ Marvin Newberg
	 	Marvin Newberg, Authorized Signatory, Assignee

 

 

	STATE OF NEW YORK	}
	 	}SS.:
	COUNTY OF SULLIVAN	}

 

On the 7th day of October in the year 2016 before me, the undersigned, a notary public in and for said state,
personally appeared Francine LaVoie, personally known to me or proved to me on the basis of satisfactory evidence to be
the individual(s) whose name(s) is (are) subscribed to the within instrument and acknowledged to me that he/she/they executed
the same in his/her/their capacity(ies), and that by his/her/their signature(s) on the instrument, the individual(s), or the person
upon behalf of which the individual(s) acted, executed the instrument.

 

 

	 	/s/ Mauranne Laforge
	 	Notary Public

 

 

	STATE OF NEW YORK	}
	 	}SS.:
	COUNTY OF SULLIVAN	}

 

On the 7th day of October in the year 2016 before me, the undersigned, a notary public in and for said
state, personally appeared Marvin Newberg, personally known to me or proved to me on the basis of satisfactory
evidence to be the individual(s) whose name(s) is (are) subscribed to the within instrument and acknowledged to me that
he/she/they executed the same in his/her/their capacity(ies), and that by his/her/their signature(s) on the instrument, the
individual(s), or the person upon behalf of which the individual(s) acted, executed the instrument.

 

 

	 	/s/ Steven N. Mogel
	 	Notary Public

 

Notary Public, State of New York

NYS Reg No. 02M06070208

Qualified in Sullivan County

Commission Expires Feb. 25, 2018

 

    	 	4	 

     

    

 

 

EXHIBIT A

 

November 1, 1995 Agreement

 

See Attached.

 

 

 

 

 

 

 

 

    	 	5	 

     

    

 

 

AGREEMENT, made this 1st day
of November 1995. by and between LEISURE TIME SPRING WATER. INC. (Leisure Time), a New York Corporation, whose address is
Box K. Kiamesha Lake. New York 12751, and ALPINE FARMS, INC. (Alpine). a New York Corporation, whose address is c/c KBCA,
I Bridge Plaza, Suite 690, F011 Lee, New Jersey 07024, and ANDREW J. KRIEGER and SIMI LEVOW KRIEGER (Owner), residing at
311 Hardenburgh Avenue, Demarest. New Jersey 67626.

 

WITNESSETH:

 

WHEREAS, Andrew J Krieger and Suri Levow
Krieger (Krieger) are the owners of certain tracts or parcels of land lying, being and situate in the Towns of Callicoon and Rockland
County of Sullivan, State of New York, and more particularly described in deeds dated May 18,1988 and recorded in the office of
the Clerk of the County of Sullivan on May 23, 1988 in Libel;1345 of Deeds at pages 61 and 65, and

 

WHEREAS, by agreement dated January 31.
1991, and recorded in the office of the clerk of the County of Sullivan on June 3. 1991, in Liber 1525 of Land Records at page
45, by and between Krieger and Alpine, Krieger did giant. assign, convey, transfer and deliver to Alpine the right and privilege
to capture and possess water flowing from all of the springs located on the aforesaid real property, a copy of which agreement
is annexed hereto and marked Schedule "A -and is incorporated herein as if more fully set forth at length herein, and

 

WHEREAS,
there is located on said real property artesian springs and an existing spring water collection facility, including, but not
limited to two (2) storage tanks, a pump building, piping, and other related equipment necessary for and related to the harvesting
of water from the said artesian springs, and

 

WHEREAS, Leisure Time and Alpine are
desirous of entering into an agreement under the terms of which Leisure Time shall obtain the rights to use the said artesian
springs, water supply and the existing facility as hereinabove described and for which Alpine shall be compensated therefore as
hereinafter set forth,

 

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NOW, THEREFORE, in consideration of the mutual covenants,
promises and representations herein made, the parties do agree as follows:

 

1. EXCLUSIVITY: Pursuant to the
terms of the agreement between Alpine and Krieger aforesaid, Alpine does hereby grant to, Leisure Time the sole and exclusive
right to draw water and use the artesian springs, water supply and existing facility as hereinabove described for the term of
this agreement together with the rights of Alpine under paragraph 1(i) and 1(ii) thereof. Alpine shall have the right of access
to the pump station building and the "gas boy" located therein. Notwithstanding the right of access to the "gas
boy", Owner and Alpine represent and agree that they shall not under any circumstances alter or change the access codes thereof.
Leisure Time shall have the right to draw water at any time subject only to any limitations which may be imposed against Leisure
Time or are imposed against the Owner and/or Alpine under its permits by any governmental authority having jurisdiction thereof.
Notwithstanding the foregoing, Alpine shall have the right to sell water from the springs upon the following conditions:

 

a) Leisure Time shall have the right to veto any proposed sale

b) Leisure Time must consent to such sale.

c) Such sale shall not interfere with Leisure Time's ability to
draw water at any time.

d) Such sale shall not interfere with Leisure Time's ability to
meet its gallonage requirements as set forth in Schedule "B".

e) Leisure Time shall bill and collect from the purchaser the amount
charged upon the sale of said water.

t) The price to he charged per gallon shall not be less than the
amount paid by Leisure Time to Alpine as set forth herein.

g) The proceeds of the water sales by Alpine to third parties shall
be divided equally between Leisure Time and Alpine.

h) In the event of non-collection of the purchase price from the
third party, both Leisure Time and Alpine and/or Owner shall bear the loss equally without any liability to the other.

 

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i)Notice of any sale by Alpine and the consent thereto by Leisure
Time shall be in writing.

 

2.       MINIMUM GUARANTEE:
Leisure Time does hereby guarantee to Owner that it shall draw not less than ten million (10,000,000) gallons per year. In
the event that drought or other conditions reduce the capacity of the existing springs to meet the minimum guarantee, such minimum
guarantee shall be reduced in accordance with Schedule "B" annexed hereto, e.g., if in any given month the production
of the springs cannot meet the demand of Leisure Time as set forth in Schedule "B" (i.e.. July 12% or 1.200,000 gallons),
the minimum guarantee shall be reduced by the difference in demand and production. By way of example, if in the month of July
production was Six Hundred Thousand (600.000) gallons and demand is One Million Two Hundred Thousand (1,200,000) gallons, the
minimum guarantee would be reduced by six hundred thousand (600,000) gallons. Anything herein to the contrary notwithstanding,
the minimum guarantee of Leisure Time in the first year of the term of this agreement shall be Seven Million Five. Hundred Thousand
(7,500,000) gallons and the obligation of Alpine to provide the minimum gallonage as set forth in Schedule "B" shall
be reduced proportionately.

 

3.       TERM: The term
of this agreement shall be forty (40) years to commence on November 1, 1995. A term year shall commence on November 1 and end on
October 31.

 

4.       COMPENSATION!
During the first twenty-five (25) years of this agreement, Leisure Time shall pay to Alpine the sum of one cent (1 Cent) per
gallon for the first five million (5,000,000) gallons of water drawn and three-fourths of one cent (3/4 cent) for all gallonage
thereafter, but no less than Eighty-Seven Thousand Five Hundred ($87,500.00) Dollars per year regardless of the actual gallonage
drawn, except during the first year of this agreement the minimum payment shall be Sixty-Eight Thousand Seven Hundred Fifty ($68,750.00)
Dollars. Leisure Time shall pay to Alpine the said sum of Eighty-Seven Thousand Five Hundred ($87,500.00) Dollars in twelve (12)
equal monthly installments of Seven Thousand Two Hundred Ninety-One and 67/100 ($7,291.67) Dollars except during the first year
of this agreement the minimum payment of Sixty-Eight Thousand Seven Hundred Fifty ($68,750.00) Dollars shall be payable in twelve
(12) equal monthly installments of Five Thousand Seven Hundred Twenty-Nine and 16/10 ($5,729.16) Dollars. Said payment shall be
due no later than the 20th day of the month. In the event that Leisure Time shall draw water in excess of ten million (10,000,000)
gallons per year, the difference between the ten million (10,000,000) gallons and the amount actually drawn shall be paid to the
Owner at the rate of three-fourths of one cent (3/4 cent) (first 25 years) or one cent (1 cent) (last 15 years) per gallon by
the 30th day of November of the next term year. For the last fifteen (15) years of the term of this agreement, Leisure Time shall
pay to Alpine for the first five million (5,000.000) gallons of water drawn one and one-quarter cents (1-1/4 cent) per gallon,
and for all gallonage thereafter one cent ( 1 cent) per gallon, and the annual minimum payment shall be One Hundred Twelve Thousand
Five Hundred ($112,500.00) Dollars payable in twelve (12) monthly installments of Nine Thousand Three Hundred Seventy-Five ($9,375.00)
Dollars.

 

    	 	3	 

     

    

 

5.       MAINTENANCE AND REPAIRS:
Leisure Time shall be responsible for all of the maintenance and repair of the existing facility including, but not limited
to buildings, spring house s, pipes, trails to springs, and if required, the replacement thereof, at its own cost and expense.
Alpine and/or Owner, within sixty (60) days from the date hereof, shall fit the spring distribution boxes with pre-cast concrete
covers with sealed access hatchways at its own cost and expense. All equipment shall be in working order upon the commencement
of this agreement. Alpine shall arrange for a demonstration of its facility for the benefit of Leisure Time.

 

6.       CAPITAL IMPROVEMENTS;
Leisure Time shall be responsible for all future capital improvements, including the replacement of all equipment, including
pumps and piping. Leisure Time will consult with Alpine and/or Owner as to the replacement of equipment and with respect to any
other improvements and installations. If the existing meters are replaced with meters of a different manufacturer or model, Alpine
and/or Owner shall have the right to approve the meter to be installed, which approval shall not be unreasonably withheld.

 

7.       ELECTRICITY AND TELEPHONE:
Leisure Time shall be responsible for the payment of electric necessary to operate the existing facility and for telephone
service.

 

 

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8.       PERMITS: Leisure
Time shall be responsible to secure and maintain such permits as may be necessary for it to harvest water from the subject property.
Leisure Time shall pay all testing costs, except such costs as may be associated with the Owner's and/or Alpine's obligation to
cure potability problems pursuant to the provisions of paragraph "12" hereof.

 

9.       SIGNS: Leisure
Time shall be entitled to erect such signs as it shall deem appropriate subject to appropriate zoning limitations with respect
thereto with approval of Alpine and/or Owner as to size and content, which approval shall not be unreasonably withheld.

 

10.       POTABILITY:
As of the date hereof, Alpine represents that the water quality of its artesian springs meets New York State drinking water standards.

 

11. TERMINATION:

 

(A) For causes not attributable to Leisure Time, Leisure Time shall
have the right to cancel and terminate this agreement after written notice to Alpine if for a period of ninety (90) days the water
quality of the artesian springs does not meet at any time New York State drinking water standards or if the artesian springs become
dormant and/or dry, provided, however, that Alpine shall have a period of ninety (90) days to cure potability problems, or if the.
Owner and/or Alpine shall fail to perform or materially breach any one or more of the terms and conditions of this agreement for
a period of ninety (90) days after written notice.

 

(B) Owner shall have the right to cancel and terminate this agreement
upon ninety (90) days written notice to Leisure Time in the event of a material breach in the performance of any one or more of
the terms and conditions hereof, and such breach or failure to perform shall continue for a period of ninety (90) days, it being
understood that the failure to make payments when due shall constitute a material breach of this agreement as of the date when
such payment shall be due hereunder, or upon the insolvency or bankruptcy of Leisure Time.

 

12. ASSIGNMENT: This agreement, and any
of the rights and privileges conferred hereunder may not be assigned, transferred or conveyed by either party without the written
permission and consent of the other, which written consent and/or permission cannot be unreasonably withheld, provided, however
that the provisions of this paragraph shall not apply if such assignment, transfer or conveyance is made to an entity in which
Leisure Time or Owner is a principal.

 

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13. OPTION OF FIRST REFUSAL: In the event that the Owner
enters into an agreement for the sale of all or a portion of their real property as described in Deed Liber 1345 at pages 61 and
65, copies of which are annexed hereto and marked Exhibit "C", Leisure Time is hereby granted an option of first refusal
to purchase the said real property, or any portion thereof, upon the same terms and conditions as the Owner contracts to
sell the same. Upon execution of a valid and binding contract between the Owner and a third party, which contract shall be made
specifically subject to the terms of this option, the Owner shall give notice to Leisure Time of the proposed sale by delivering
a copy of the contract of sale personally or by certified mail, return receipt requested. Leisure Time shall have thirty (30) days
from the date of delivery or mailing within which to exercise its option. Leisure Time shall exercise its option of first refusal
by delivering to the Owner a check in the amount of the contract deposit, in which event Leisure Time and the Owner shall be bound
by the contract of sale.

 

14. INSURANCE: Leisure Time shall maintain liability insurance
with respect to its use and occupation of the property and facilities herein referred to in an amount of not less than Five Million
($5,000,000.00) Dollars. Leisure Time shall maintain fire and other casualty insurance so as to provide sufficient coverage to
repair, rebuild and/or replace the facility in the event the same is damaged or destroyed. Owner and Alpine shall be named as an
additional insured on Leisure Time policies. Leisure Time shall provide proof of insurance annually.

 

15. INDEMNIFICATION: If caused by the
negligence of Leisure Time, Leisure Time shall indemnify and save harmless the Owner and Alpine from and against any and all liability,
loss, claim, cost, expense and damages and from and against any and all suits, claims and demands of every kind and nature, including
counsel fees, by or on behalf of any person, firm, association or corporation arising out of or based upon any accident, injury
or damage. If caused by the negligence of the Owner and/or Alpine, the Owner and/or Alpine shall indemnify and save harmless Leisure
Time from and against any and all liability, loss, claim, cost, expense and damages and from and against any and all suits, claims
and demands of every kind and nature, including counsel fees, by or on behalf of any person, firm., association or corporation
arising out of or based upon any accident, injury or damage.

 

 

    	 	6	 

     

    

 

16. INDEPENDENT STATUS: At all times during the term of this
agreement or any renewal thereof, Leisure Time, Alpine and Owner shall be considered independent of each other and nothing herein
contained shall construe Leisure Time, Alpine or the Owner as an agent or an employee of the other, nor as a partner or joint venture.

 

17. INTERVENING ACTS: Notwithstanding any other provisions
stated herein to the contrary, in the event either party shall be prevented, hindered or delayed in the performance of this agreement
by any cause beyond its control, including, but not limited to, acts of God, war, fire, traffic interruptions, governmental orders,
regulations or shortage of raw materials, or by strikes of labor disturbances, then performance of this agreement by the party
affected shall he suspended and excused during the period of duration of such cause without damages, costs or penalties: provided,
however, that if such period of suspension lasts for more than ninety (90) consecutive days, the other party, at its option and
as its sole remedy, may terminate this agreement immediately by giving written notice to that effect.

 

18. GENERAL PROVISIONS:

 

(a) A memorandum of this agreement may be tiled in the office of
the Clerk of the County of Sullivan.

 

(b) The promises, warranties and agreements herein contained shall
bind and inure to the benefit of the respective parties hereto, their legal representatives, successors and assigns.

 

(c) This agreement may not he modified, changed or supplemented,
nor may any obligations hereunder be waived, except by written instrument signed by the party to be charged.

 

(d) This agreement shall be governed by
and construed and enforced in accordance with the laws of the State of New York and the. County of Sullivan, In the event
that any term of this agreement shall be construed by a court of competent jurisdiction to be illegal or unenforceable at law
or in equity, the same shall be deemed to be void and of no force or effect to the extent necessary to bring such term within
the provisions of any applicable law or laws and such term as so modified and the balance of the terms of this agreement
shall be fully enforceable.

 

    	 	7	 

     

    

 

IN WITNESS WHEREOF, the parties hereto have annexed their
signatures on the day and year first above written.

 

 

	 	LEISURE TIME SPRING WATER, INC.

 

BY: /s/ Harold B. Reynolds

Harold B. Reynolds, President

 

 

ALPINE FARMS, INC.

 

BY: /s/ Andrew J. Krieger

Andrew J. Krieger, President

 

/s/ Andrew J. Krieger

Andrew J. Krieg r

 

 

/s/ Suri Levow Krieger

Suri Levow Krieger

 

 

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SCHEDULE “A”

 

 

 

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SCHEDULE “B”

 

 

 

 

 

 

 

 

 

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SCHEDULE “C
”

 

 

 

 

 

 

 

 

 

 

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EXHIBIT B

 

April 25, 2000 Modification
Agreement

 

See Attached.

 

 

 

 

 

 

 

 

 

 

    	 	26	 

     

    

 

AGREEMENT OF
MODIFICATION, made as of the 25th day of April, 2000, by and between LEISURE TIME SPRING WATER, INC. (Leisure
Time, a New York Corporation, whose address is Box K. Kiamesha Lake, New York 12751, and ALPINE FARMS, INC. (Alpine),
a New York Corporation, whose address is c/o DEERHURST MANAGEMENT CO, INC., 1 Bridge Plaza, Suite 690, Fort Lee, New Jersey
07024.

 

WITNESSETH:

 

WHEREAS, the above referenced parties
have heretofore entered into an agreement dated November 1, 1995, to which reference is hereby made for the term, covenants, promises
and representations made therein, and

 

WHEREAS, the parties are desirous of
modifying the said agreement,

 

NOW, THEREFORE, in consideration hereof,
the parties do agree as follows:

 

1. Paragraph 2 of said agreement, entitled
"MINIMUM GUARANTEE", is hereby modified and amended to read as follows:

 

“2. MINIMUM GUARANTEE: Leisure
Time does hereby guarantee to Owner that it shall draw not less than seven million (7,000,000) gallons per year. In the event
that drought or other conditions reduce the capacity of the existing springs to meet the minimum guarantee, such minimum guarantee
shall be reduced in accordance with Schedule ‘B’ annexed to the said agreement dated November 1, 1995, e.g., if in
any given month the production of the springs cannot meet the demand of Leisure time as set forth in Schedule ‘B’
(i.e., July 12% or 840,000 gallons), the minimum guarantee shall be reduced by the difference in demand and production. By way
of example, if in the month of July production was Six Hundred Thousand (600,000) gallons and demand is Eight Hundred Forty Thousand
(840,000) gallons, the minimum guarantee would be reduced by two hundred forty thousand (240,000) gallons. 

 

2. Paragraph 4 of said agreement, entitled
"COMPENSATION", is hereby modified and amended to read as follows:

 

    	 	1	 

     

    

 

“ 4. COMPENSATION: During
the remainder of the first twenty-five (25) years of this agreement, Leisure Time shall pay to Alpine the sum of one cent (1 cent)
per gallon for the first five million (5,000,000) gallons of water drawn and three-fourths of one cent (3/4 cents) for all gallonage
thereafter, but no less than Sixty-Five Thousand ($65,000.00) Dollars per year regardless of the actual gallonage drawn. Leisure
Time shall pay to Alpine the said sum of Sixty-Five Thousand ($65,000.00) Dollars in twelve (12) monthly installments of Five
Thousand Four Hundred Sixteen and 67/100 ($5,416.67) Dollars. Said payment shall be due no later than the 20th day
of the month. In the event that Leisure Time shall draw water in excess of seven million (7,000,000) gallons per year, the difference
between the seven million (7,000,000) gallons and the amount actually drawn shall be paid to the Owner at the rate of three-fourths
of one cent (3/4 cents (first 25 years) or one cent (1 cent) (last 15 years) per gallon by the 30th day of November
of the next term year. For the last fifteen (15) years of the term of this agreement, Leisure Time shall pay to Alpine for the
first five million (5,000,000) gallons of water drawn one and one-quarter cents (1-1/40) per gallon, and for all gallonage thereafter
one cent (10) per gallon, and the annual minimum payment shall be Eighty-Two Thousand Five Hundred ($82,500.00) Dollars payable
in twelve (12) monthly installments of Six thousand Eight Hundred Seventy-Five ($6,875.00) Dollars."

 

3. Except as hereby modified and amended, all
of the other terms, covenants, promises and representations contained in the said agreement dated November 1, 1995. shall remain
in full force and effect.

 

4. The promises, warranties and agreements
herein contained shall bind and inure to the benefit of the respective parties hereto, their legal representatives, successors
and assigns.

 

5. This agreement may not be modified, changed
or supplemented, nor may any obligations hereunder be waived, except by written instrument signed by the party to be charged.

 

    	 	2	 

     

    

 

 

6. This agreement shall be governed by and
construed and enforced in accordance with the laws of the State of New York and the County of Sullivan. In the event that any
term of this agreement shall be construed by a court of competent jurisdiction to be illegal or unenforceable at law or in equity,
the same shall be deemed to be void and of no force or effect to the extent necessary to bring such term within the provisions
of any applicable law or laws and such term as so modified and the balance of the terms of this agreement shall be fully
enforceable.

 

IN WITNESS WHEREOF, the parties have
executed this agreement as of the date and year first above written.

 

 

	 	LEISURE TIME SPRING WATER, INC.
	 	 
	 	 
	 	By: /s/ Harold B. Reynolds
	 	Harold B. Reynolds, President
	 	 
	 	ALPINE FARMS, INC.
	 	 
	 	 
	 	By: /s/ Andrew J. Kreiger
	 	Andrew J. Krieger, President

 

 

 

 

 

 

 

 

 

 

    	 	3	 

     

    

 

 

STATE OF NEW YORK )

COUNTY OF SULLIVAN) SS.:

 

On the 28th day of April, in the year 2000, before me, the undersigned,
a Notary Public in the for said State, personally appeared HAROLD B. REYNOLDS, personally known to me or proved to me on the basis
of satisfactory evidence to be the individual whose name is subscribed to the within instrument and acknowledged to me that he
executed the same in his capacity, and that by his signature on the instrument, the individual or person upon behalf of which
the individual acted, executed the instrument.

 

	 	/s/ Robert M. Rosen
	 	Notary Public

 

 

 

 

 

 

STATE OF NEW JERSEY )

COUNTY OF BERGEN) SS.:

 

On the ____day of April, in the year 2000, before me, the undersigned,
personally appeared ANDREW J. KRIEGER, known to me or proved to me on the basis of satisfactory evidence to be the individual whose
name is subscribed to the within instrument and acknowledged to me that he executed the same in his capacity, that by his signature
on the instrument, the individual, or the person upon behalf of which the individual acted, executed the instrument, and that such
individual made such appearance before the undersigned in the State of New Jersey.

 

 

	 	/s/ Maria Allicoat
	 	Notary Public

 

 

 

    	 	4	 

     

    

 

 

 

EXHIBIT C

 

June 22, 2016 Modification Agreement

 

See Attached

 

 

 

 

 

 

 

 

 

 

    	 	5	 

     

    

 

AGREEMENT OF MODIFICATION, made as of the 22nd
day of June, 2016, by and between Boreal Water Collection, Inc., p/k/a Leisure Time Spring Water, Inc. (Boreal), a New York Corporation,
whose address is 4496 Route 42, P.O. Box 220, Kiamesha Lake, NY 12751, and BB Development XXVIII LLC, an Illinois Limited Liability
Company, whose address is do MB Financial Bank, 6111 N. River Road, Rosemont, IL 60018.

 

WITNESSETH:

 

WHEREAS, Leisure Time Spring Water, Inc. (Leisure
Time), a New York Corporation, Alpine Farms, Inc. (Alpine), a New York Corporation, and Andrew J. Krieger and Suri Levow Krieger
entered into an agreement dated November 1, 1995 to permit Leisure Time the sole and exclusive right to use certain artesian springs
and existing facilities located on certain property located on Shandalee Road in Livingston Manor in the State of New York and
more particularly identified as Town of Callicoon SBL 4-1-11 and 4-1-14.1 (Premises), as modified by an Agreement of Modification
between Leisure Time and Alpine dated April 25, 2000 (Water Agreement), and

 

WHEREAS, Boreal Water Collection, Inc. (Boreal)
is the successor, assignee and/or legal representative of Leisure Time, and BE Development XXVII LLC is the successor in interest
of the remaining parties to the Water Agreement, and

 

WHEREAS, the parties are desirous of modifying the Water Agreement,
NOW, THEREFORE, in consideration hereof, the parties do agree as follows:

 

1.       Paragraph
13 of the Water Agreement dated November 1, 1995 entitled "Option of First Refusal" is deleted in its entirety and is
of no further force and effect.

 

2.       Except
as hereby modified and amended, all of the other terms, covenants, promises and representations contained in the Water Agreement
shall remain in full force and effect.

 

3.       The
promises, warranties and agreements herein contained shall bind and inure to the benefit of the respective parties hereto, their
legal representatives, successors and assigns.

 

4.       This
agreement may not be modified, changed or supplemented, nor may nay obligations hereunder be waived, except by written instrument
signed by the party to be charged.

 

5.       This agreement shall be governed by, construed,
and enforced in accordance with the laws of the State of New York. All disputes arising hereunder shall be adjudicated by a court
Of competent jurisdiction in Sullivan County, New York. In the event that any term of this agreement shall be construed by a court
of competent jurisdiction to be illegal or unenforceable at law or in equity, the same shall be deemed to be void and of no force
or effect to the extent necessary to bring such term within the provisions of any applicable law or laws and such term as so modified
and the balance of the terms of this agreement shall be fully enforceable.

 

 

    	 	1	 

     

    

 

 

	SELLER:	PURCHASER:
	 	 
	BB DEVELOPMENT XXVIII, LLC	BOREAL WATER COLLECTION, INC.
	 	 
	/s/ Brian Nagorsky	/s/ Francine LaVoie
	BY: Brian Nagorsky, Authorized Representative

	BY: Francine LaVoie, Chairman/CEO

 

 

 

ACKNOWLEDGMENT

 

	STATE OF ILLINOIS	}
	 	}SS.:
	COUNTY OF COOK	}

 

 

On the 22nd  day of June
in the year 2016 before me, the undersigned, personally appeared Brian Nagorsky personally known to me or proved to me on the
basis of satisfactory evidence to be the individual(s) whose name is(are) subscribed to the within instrument and acknowledged
to me that he/she/they executed the same in his/her/their capacity(ies) and that by his/her/their signatures on the instrument,
the individual(s), or the person upon behalf of which individual(s) acted, executed the instrument and that such individual made
an appearance before the undersigned.

 

 

	 	/s/ Sandra Zar
	 	Notary Public

 

 

 

	STATE OF NEW YORK	}
	 	}SS.:
	COUNTY OF SULLIVAN	}

 

 

On the 22ND day of
June in the year 2016 before me, the undersigned, personally appeared Francine LaVoie personally known to me or proved to me
on the basis of satisfactory evidence to be the individual(s) whose name is(are) subscribed to the within instrument and
acknowledged to me that he/she/they executed the same in his/her/their capacity(ies) and that by his/her/their signatures on
the instrument, the individual(s), or the person upon behalf of which individual(s) acted, executed the instrument and that
such individual made an appearance before the undersigned.

 

 

	 	/s/ Jacob R. Billig
	 	Notary Public

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