Document:

Exhibit
4.2

 

SIGYN
THERAPEUTICS, INC.

 

CERTIFICATE
OF DESIGNATION OF PREFERENCES,

RIGHTS
AND LIMITATIONS

OF

SERIES
B CONVERTIBLE PREFERRED STOCK

 

PURSUANT
TO SECTION 151 OF THE

DELAWARE
GENERAL CORPORATION LAW

 

The
undersigned, __________ and ____________, do hereby certify that:

 

1.
They are the President and Secretary, respectively, of Sigyn Therapeutics, Inc., a Delaware corporation (the “Corporation”).

 

2.
The Corporation is authorized to issue 5,000 shares of preferred stock, ______ of which have been issued.

 

3.
The following resolutions were duly adopted by the board of directors of the Corporation (the “Board of Directors”):

 

WHEREAS,
the certificate of incorporation of the Corporation provides for a class of its authorized stock known as preferred stock, consisting
of 5,000 shares, $0.001 par value per share, issuable from time to time in one or more series;

 

WHEREAS,
the Board of Directors is authorized to fix the dividend rights, dividend rate, voting rights, conversion rights, rights and terms of
redemption and liquidation preferences of any wholly unissued series of preferred stock and the number of shares constituting any series
and the designation thereof, of any of them; and

 

WHEREAS,
it is the desire of the Board of Directors, pursuant to its authority as aforesaid, to fix the rights, preferences, restrictions and
other matters relating to a series of the preferred stock, which shall consist of, except as otherwise set forth in the Underwriting
Agreement, up to ______ shares of the preferred stock which the Corporation has the authority to issue, as follows:

 

NOW,
THEREFORE, BE IT RESOLVED, that the Board of Directors does hereby provide for the issuance of a series of preferred stock for cash or
exchange of other securities, rights or property and does hereby fix and determine the rights, preferences, restrictions and other matters
relating to such series of preferred stock as follows:

 

    	 

    	 

    

 

TERMS
OF PREFERRED STOCK

 

Section
1. Definitions. For the purposes hereof, the following terms shall have the following meanings:

 

“Affiliate”
means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common control
with a Person, as such terms are used in and construed under Rule 405 of the Securities Act.

 

“Alternate
Consideration” shall have the meaning set forth in Section 7(d).

 

“Beneficial
Ownership Limitation” shall have the meaning set forth in Section 6(d).

 

“Business
Day” means any day except any Saturday, any Sunday, any day which is a federal legal holiday in the United States or any day
on which banking institutions in the State of New York are authorized or required by law or other governmental action to close.

 

“Buy-In”
shall have the meaning set forth in Section 6(c)(iv).

 

“Commission”
means the United States Securities and Exchange Commission.

 

“Common
Stock” means the Corporation’s common stock, par value $0.001 per share, and stock of any other class of securities into
which such securities may hereafter be reclassified or changed.

 

“Common
Stock Equivalents” means any securities of the Corporation or the Subsidiaries which would entitle the holder thereof to acquire
at any time Common Stock, including, without limitation, any debt, preferred stock, rights, options, warrants or other instrument that
is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock.

 

“Conversion
Amount” means the sum of the Stated Value at issue.

 

“Conversion
Date” shall have the meaning set forth in Section 6(a).

 

“Conversion
Price” shall have the meaning set forth in Section 6(b).

 

“Conversion
Shares” means, collectively, the shares of Common Stock issuable upon conversion of the shares of Preferred Stock in accordance
with the terms hereof.

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 

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“Exempt
Issuances” means the issuance of (a) shares of Common Stock or options to employees, officers or directors of the Corporation
pursuant to any stock or option plan duly adopted for such purpose, by a majority of the non-employee members of the Board of Directors
or a majority of the members of a committee of non-employee directors established for such purpose for services rendered to the Corporation,
(b) securities upon the exercise or exchange of or conversion of any securities issued hereunder and/or other securities exercisable
or exchangeable for or convertible into shares of Common Stock issued and outstanding on the date of first issuance of shares of Series
B Preferred Stock, provided that such securities have not been amended since the date of such first issuance of shares of Series B Preferred
Stock, to increase the number of such securities or to decrease the exercise price, exchange price or conversion price of such securities
(other than in connection with stock splits or combinations) or to extend the term of such securities, (c) securities issued pursuant
to acquisitions or strategic transactions approved by a majority of the disinterested directors of the Corporation, provided that such
securities are issued as “restricted securities” (as defined in Rule 144 under the Securities Act) and carry no registration
rights that require or permit the filing of any registration statement in connection therewith, and provided that any such issuance shall
only be to a person (or to the equityholders of a person) which is, itself or through its subsidiaries, an operating company or an owner
of an asset in a business synergistic with the business of the Corporation and shall provide to the Corporation additional benefits in
addition to the investment of funds, but shall not include a transaction in which the Corporation is issuing securities primarily for
the purpose of raising capital or to an entity whose primary business is investing in securities and (d) with the prior written consent
of the Holders of a majority of the then-outstanding shares of Series B Preferred Stock, up to an amount of Common Stock as agreed upon
by such majority Holders and the Corporation.

 

“Fundamental
Transaction” shall have the meaning set forth in Section 7(d).

 

“GAAP”
means United States generally accepted accounting principles.

 

“Holder”
shall have the meaning given such term in Section 2.

 

“New
York Courts” shall have the meaning set forth in Section 8(d).

 

“Notice
of Conversion” shall have the meaning set forth in Section 6(a).

 

“Original
Issue Date” means the date of the first issuance of any shares of the Preferred Stock regardless of the number of transfers
of any particular shares of Preferred Stock and regardless of the number of certificates which may be issued to evidence such Preferred
Stock.

 

“Person”
means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability
company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

 

“Preferred
Stock” shall have the meaning set forth in Section 2.

 

“Representative”
means Univest Securities, LLC.

 

“Securities
Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 

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“Share
Delivery Date” shall have the meaning set forth in Section 6(c).

 

“Stated
Value” shall have the meaning set forth in Section 2, as the same may be increased pursuant to Section 3.

 

“Subsidiary”
means any subsidiary of the Corporation and shall, where applicable, also include any direct or indirect subsidiary of the Corporation
formed or acquired after the date hereof.

 

“Successor
Entity” shall have the meaning set forth in Section 7(d).

 

“Trading
Day” means a day on which the principal Trading Market is open for business.

 

“Trading
Market” means any of the following markets or exchanges on which the Common Stock is listed or quoted for trading on the date
in question: the NYSE MKT, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market, the New York Stock Exchange,
OTCQB or OTCQX (or any successors to any of the foregoing).

 

“Transfer
Agent” means Equity Stock Transfer, LLC, the current transfer agent of the Corporation, with a mailing address of 237 West
37th Street, Suite 601, New York, New York 10018 and a facsimile number of (347) 584-3644, and any successor transfer agent of the Corporation.

 

“Underwriting
Agreement” means the underwriting agreement, dated as of _____________ __, 2022, between the Corporation and the Representative
as representative of the underwriters named therein, as amended, modified or supplemented from time to time in accordance with its terms.

 

Section
2. Designation, Amount and Par Value. The series of preferred stock shall be designated as its Series B Convertible Preferred
Stock (the “Preferred Stock”) and the number of shares so designated shall be up to ___ (which shall not be subject
to increase without the written consent of all of the holders of the Preferred Stock (each, a “Holder” and collectively,
the “Holders”)). Each share of Preferred Stock shall have a par value of $0.001 per share and a stated value equal
to $1,000 (the “Stated Value”). The shares of Preferred Stock shall initially be issued and maintained in the form
of securities held in book-entry form and the Depository Trust Company or its nominee (“DTC”) shall initially be the
sole registered holder of the shares of Preferred Stock.

 

Section
3. Dividends. Except for stock dividends or distributions for which adjustments are to be made pursuant to Section 7, Holders
shall be entitled to receive, and the Corporation shall pay, dividends on shares of Preferred Stock equal (on an as-if-converted-to-Common-Stock
basis (without giving effect to the Beneficial Ownership Limitation)) to and in the same form as dividends actually paid on shares of
the Common Stock when, as and if such dividends are paid on shares of the Common Stock. Other than as set forth in the previous sentence,
no other dividends shall be paid on shares of Preferred Stock, and the Corporation shall pay no dividends (other than dividends in the
form of Common Stock) on shares of the Common Stock unless it simultaneously complies with the previous sentence.

 

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Section
4. Voting Rights. Except as otherwise provided herein or as otherwise required by law, the Preferred Stock shall have no voting
rights. However, as long as any shares of Preferred Stock are outstanding, the Corporation shall not, without the affirmative vote of
the Holders of a majority of the then outstanding shares of the Preferred Stock, (a) alter or change adversely the powers, preferences
or rights given to the Preferred Stock or alter or amend this Certificate of Designation, (b) amend its certificate of incorporation
or other charter documents in any manner that adversely affects any rights of the Holders, (c) increase the number of authorized shares
of Preferred Stock, or (d) enter into any agreement with respect to any of the foregoing.

 

Section
5. Liquidation. Upon any liquidation, dissolution or winding-up of Corporation, whether voluntary or involuntary (a “Liquidation”),
the Holders shall be entitled to participate on an as-converted-to-Common Stock basis (without giving effect to the Beneficial Ownership
Limitation) with holders of the Common Stock in any distribution of assets of the Corporation to the holders of the Common Stock.

 

Section
6. Conversion.

 

	 	a)	Conversions
    at Option of Holder. Each share of Preferred Stock shall be convertible, at any time and from time to time from and after the
    Original Issue Date at the option of the Holder thereof, into that number of shares of Common Stock (subject to the limitations set
    forth in Section 6(d)) determined by dividing the Stated Value of such share of Preferred Stock by the Conversion Price. Holders
    shall effect conversions by providing the Corporation with the form of conversion notice attached hereto as Annex A (a “Notice
    of Conversion”). Each Notice of Conversion shall specify the number of shares of Preferred Stock to be converted, the number
    of shares of Preferred Stock owned prior to the conversion at issue, the number of shares of Preferred Stock owned subsequent to
    the conversion at issue and the date on which such conversion is to be effected, which date may not be prior to the date the applicable
    Holder delivers by facsimile or e-mail such Notice of Conversion to the Corporation (such date, the “Conversion Date”).
    Upon delivery of the Notice of Conversion, the Holder shall be deemed for all corporate purposes to have become the holder of record
    of the Conversion Shares with respect to which the shares of Preferred Stock have been converted irrespective of the date of delivery
    of the Conversion Shares, provided that the Holder shall deliver such converted shares of Preferred Stock to the Transfer Agent via
    the DTC’s Deposit/Withdrawal at Custodian system within two Trading Days of delivery of the Notice of Conversion. If no Conversion
    Date is specified in a Notice of Conversion, the Conversion Date shall be the date that such Notice of Conversion to the Corporation
    is deemed delivered hereunder. No ink-original Notice of Conversion shall be required, nor shall any medallion guarantee (or other
    type of guarantee or notarization) of any Notice of Conversion form be required. The calculations and entries set forth in the Notice
    of Conversion shall control in the absence of manifest or mathematical error. To effect conversions of shares of Preferred Stock,
    a Holder shall not be required to surrender the certificate(s) representing the shares of Preferred Stock to the Corporation unless
    all of the shares of Preferred Stock represented thereby are so converted, in which case such Holder shall deliver the certificate
    representing such shares of Preferred Stock promptly following the Conversion Date at issue. Shares of Preferred Stock converted
    into Common Stock or redeemed in accordance with the terms hereof shall be canceled and shall not be reissued.

 

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Without
limiting the rights and remedies of a holder of Preferred Stock hereunder and without limiting the right of a Holder to deliver a Notice
of Conversion to the Corporation, a holder whose interest in the shares of Preferred Stock is a beneficial interest in certificate(s)
representing the shares of Preferred Stock held in book-entry form through DTC (or another established clearing corporation performing
similar functions), may effect conversions made pursuant to this Section 6(a) by delivering to DTC (or such other clearing corporation,
as applicable) the appropriate instruction form for conversion, complying with the procedures to effect conversions that are required
by DTC (or such other clearing corporation, as applicable).

 

b)
Conversion Price. The conversion price for the Preferred Stock shall equal $_____, subject to adjustment herein (the “Conversion
Price”).

 

c)
Mechanics of Conversion

 

i.
Delivery of Conversion Shares Upon Conversion. Not later than three (3) Trading Days after each Conversion Date (the “Share
Delivery Date”), the Corporation shall deliver, or cause to be delivered, to the converting Holder the number of Conversion
Shares being acquired upon the conversion of the Preferred Stock, which Conversion Shares shall be free of restrictive legends and trading
restrictions and a bank check in the amount of accrued and unpaid dividends, if any. The Corporation shall deliver (or cause to be delivered)
the Conversion Shares electronically through the Depository Trust Company or another established clearing corporation performing similar
functions.

 

ii.
Failure to Deliver Conversion Shares. If, in the case of any Notice of Conversion, such Conversion Shares are not delivered to
or as directed by the applicable Holder by the Share Delivery Date, in addition to any other rights herein, the Holder shall be entitled
to elect by written notice to the Corporation at any time on or before its receipt of such Conversion Shares, to rescind such Conversion,
in which event the Corporation shall promptly return to the Holder any original Preferred Stock certificate delivered to the Corporation
and the Holder shall promptly return to the Corporation the Conversion Shares issued to such Holder pursuant to the rescinded Conversion
Notice.

 

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iii.
Obligation Absolute; Partial Liquidated Damages. The Corporation’s obligation to issue and deliver the Conversion Shares
upon conversion of Preferred Stock in accordance with the terms hereof are absolute and unconditional, irrespective of any action or
inaction by a Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against
any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged
breach by such Holder or any other Person of any obligation to the Corporation or any violation or alleged violation of law by such Holder
or any other person, and irrespective of any other circumstance which might otherwise limit such obligation of the Corporation to such
Holder in connection with the issuance of such Conversion Shares; provided, however, that such delivery shall not operate
as a waiver by the Corporation of any such action that the Corporation may have against such Holder. In the event a Holder shall elect
to convert any or all of the Stated Value of its Preferred Stock, the Corporation may not refuse conversion based on any claim that such
Holder or any one associated or affiliated with such Holder has been engaged in any violation of law, agreement or for any other reason,
unless an injunction from a court, on notice to Holder, restraining and/or enjoining conversion of all or part of the Preferred Stock
of such Holder shall have been sought and obtained, and the Corporation posts a surety bond for the benefit of such Holder in the amount
of 150% of the Stated Value of Preferred Stock which is subject to the injunction, which bond shall remain in effect until the completion
of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to such Holder to the extent it obtains
judgment. In the absence of such injunction, the Corporation shall issue Conversion Shares and, if applicable, cash, upon a properly
noticed conversion. If the Corporation fails to deliver to a Holder such Conversion Shares pursuant to Section 6(c)(i) on the Share Delivery
Date applicable to such conversion, the Corporation shall pay to such Holder, in cash, as liquidated damages and not as a penalty, for
each $1,000 of Stated Value of Preferred Stock being converted, $10 per Trading Day (increasing to $20 per Trading Day on the third Trading
Day and increasing to $40 per Trading Day on the sixth Trading Day after such damages begin to accrue) for each Trading Day after the
Share Delivery Date until such Conversion Shares are delivered or Holder rescinds such conversion. Nothing herein shall limit a Holder’s
right to pursue actual damages for the Corporation’s failure to deliver Conversion Shares within the period specified herein and
such Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation,
a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit a Holder from seeking to
enforce damages pursuant to any other Section hereof or under applicable law.

 

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iv.
Compensation for Buy-In on Failure to Timely Deliver Conversion Shares Upon Conversion. In addition to any other rights available
to the Holder, if the Corporation fails for any reason to deliver to a Holder the applicable Conversion Shares by the Share Delivery
Date pursuant to Section 6(c)(i), and if after such Share Delivery Date such Holder is required by its brokerage firm to purchase (in
an open market transaction or otherwise), or the Holder’s brokerage firm otherwise purchases, shares of Common Stock to deliver
in satisfaction of a sale by such Holder of the Conversion Shares which such Holder was entitled to receive upon the conversion relating
to such Share Delivery Date (a “Buy-In”), then the Corporation shall (A) pay in cash to such Holder (in addition to
any other remedies available to or elected by such Holder) the amount, if any, by which (x) such Holder’s total purchase price
(including any brokerage commissions) for the Common Stock so purchased exceeds (y) the product of (1) the aggregate number of shares
of Common Stock that such Holder was entitled to receive from the conversion at issue multiplied by (2) the actual sale price at which
the sell order giving rise to such purchase obligation was executed (including any brokerage commissions) and (B) at the option of such
Holder, either reissue (if surrendered) the shares of Preferred Stock equal to the number of shares of Preferred Stock submitted for
conversion (in which case, such conversion shall be deemed rescinded) or deliver to such Holder the number of shares of Common Stock
that would have been issued if the Corporation had timely complied with its delivery requirements under Section 6(c)(i). For example,
if a Holder purchases shares of Common Stock having a total purchase price of $11,000 to cover a Buy-In with respect to an attempted
conversion of shares of Preferred Stock with respect to which the actual sale price of the Conversion Shares (including any brokerage
commissions) giving rise to such purchase obligation was a total of $10,000 under clause (A) of the immediately preceding sentence, the
Corporation shall be required to pay such Holder $1,000. The Holder shall provide the Corporation written notice indicating the amounts
payable to such Holder in respect of the Buy-In and, upon request of the Corporation, evidence of the amount of such loss. Nothing herein
shall limit a Holder’s right to pursue any other remedies available to it hereunder, at law or in equity including, without limitation,
a decree of specific performance and/or injunctive relief with respect to the Corporation’s failure to timely deliver the Conversion
Shares upon conversion of the shares of Preferred Stock as required pursuant to the terms hereof.

 

v.
Reservation of Shares Issuable Upon Conversion. The Corporation covenants that it will at all times reserve and keep available
out of its authorized and unissued shares of Common Stock for the sole purpose of issuance upon conversion of the Preferred Stock as
herein provided, free from preemptive rights or any other actual contingent purchase rights of Persons other than the Holder (and the
other holders of the Preferred Stock), not less than such aggregate number of shares of the Common Stock as shall be issuable (taking
into account the adjustments and restrictions of Section 7) upon the conversion of the then outstanding shares of Preferred Stock. The
Corporation covenants that all shares of Common Stock that shall be so issuable shall, upon issue, be duly authorized, validly issued,
fully paid and nonassessable.

 

vi.
Fractional Shares. No fractional shares or scrip representing fractional shares shall be issued upon the conversion of the Preferred
Stock. As to any fraction of a share which the Holder would otherwise be entitled to purchase upon such conversion, the Corporation shall
at its election, either pay a cash adjustment in respect of such final fraction in an amount equal to such fraction multiplied by the
Conversion Price or round up to the next whole share.

 

vii.
Transfer Taxes and Expenses. The issuance of Conversion Shares on conversion of this Preferred Stock shall be made without charge
to any Holder for any documentary stamp or similar taxes that may be payable in respect of the issue or delivery of such Conversion Shares,
provided that the Corporation shall not be required to pay any tax that may be payable in respect of any transfer involved in the issuance
and delivery of any such Conversion Shares upon conversion in a name other than that of the Holders of such shares of Preferred Stock
and the Corporation shall not be required to issue or deliver such Conversion Shares unless or until the Person or Persons requesting
the issuance thereof shall have paid to the Corporation the amount of such tax or shall have established to the satisfaction of the Corporation
that such tax has been paid. The Corporation shall pay all Transfer Agent fees required for same-day processing of any Notice of Conversion
and all fees to the Depository Trust Company (or another established clearing corporation performing similar functions) required for
same-day electronic delivery of the Conversion Shares.

 

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d)
Beneficial Ownership Limitation. The Corporation shall not effect any conversion of the Preferred Stock, and a Holder shall not
have the right to convert any portion of the Preferred Stock, to the extent that, after giving effect to the conversion set forth on
the applicable Notice of Conversion, such Holder (together with such Holder’s Affiliates, and any Persons acting as a group together
with such Holder or any of such Holder’s Affiliates (such Persons, “Attribution Parties”)) would beneficially
own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of shares
of Common Stock beneficially owned by such Holder and its Affiliates and Attribution Parties shall include the number of shares of Common
Stock issuable upon conversion of the Preferred Stock with respect to which such determination is being made, but shall exclude the number
of shares of Common Stock which are issuable upon (i) conversion of the remaining, unconverted Stated Value of Preferred Stock beneficially
owned by such Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or unconverted
portion of any other securities of the Corporation subject to a limitation on conversion or exercise analogous to the limitation contained
herein (including, without limitation, the Preferred Stock or the Warrants) beneficially owned by such Holder or any of its Affiliates
or Attribution Parties. Except as set forth in the preceding sentence, for purposes of this Section 6(d), beneficial ownership shall
be calculated in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. To the extent
that the limitation contained in this Section 6(d) applies, the determination of whether the Preferred Stock is convertible (in relation
to other securities owned by such Holder together with any Affiliates and Attribution Parties) and of how many shares of Preferred Stock
are convertible shall be in the sole discretion of such Holder, and the submission of a Notice of Conversion shall be deemed to be such
Holder’s determination of whether the shares of Preferred Stock may be converted (in relation to other securities owned by such
Holder together with any Affiliates and Attribution Parties) and how many shares of the Preferred Stock are convertible, in each case
subject to the Beneficial Ownership Limitation. To ensure compliance with this restriction, each Holder will be deemed to represent to
the Corporation each time it delivers a Notice of Conversion that such Notice of Conversion has not violated the restrictions set forth
in this paragraph and the Corporation shall have no obligation to verify or confirm the accuracy of such determination. In addition,
a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act
and the rules and regulations promulgated thereunder. For purposes of this Section 6(d), in determining the number of outstanding shares
of Common Stock, a Holder may rely on the number of outstanding shares of Common Stock as stated in the most recent of the following:
(i) the Corporation’s most recent periodic or annual report filed with the Commission, as the case may be, (ii) a more recent public
announcement by the Corporation or (iii) a more recent written notice by the Corporation or the Transfer Agent setting forth the number
of shares of Common Stock outstanding. Upon the written or oral request of a Holder (which may be via email), the Corporation shall within
two Trading Days confirm orally and in writing to such Holder the number of shares of Common Stock then outstanding. In any case, the
number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the
Corporation, including the Preferred Stock, by such Holder or its Affiliates or Attribution Parties since the date as of which such number
of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% (or, upon
election by a Holder prior to the issuance of any shares of Preferred Stock, 9.99%) of the number of shares of the Common Stock outstanding
immediately after giving effect to the issuance of shares of Common Stock issuable upon conversion of Preferred Stock held by the applicable
Holder. A Holder, upon notice to the Corporation, may increase or decrease the Beneficial Ownership Limitation provisions of this Section
6(d) applicable to its Preferred Stock provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of shares
of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock upon conversion of this Preferred
Stock held by the Holder and the provisions of this Section 6(d) shall continue to apply. Any such increase in the Beneficial Ownership
Limitation will not be effective until the 61st day after such notice is delivered to the Corporation and shall only apply to such Holder
and no other Holder. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity
with the terms of this Section 6(d) to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the
intended Beneficial Ownership Limitation contained herein or to make changes or supplements necessary or desirable to properly give effect
to such limitation. The limitations contained in this paragraph shall apply to a successor holder of Preferred Stock.

 

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Section
7. Certain Adjustments.

 

a)
Stock Dividends and Stock Splits. If the Corporation, at any time while this Preferred Stock is outstanding: (i) pays a stock
dividend or otherwise makes a distribution or distributions payable in shares of Common Stock on shares of Common Stock or any other
Common Stock Equivalents (which, for avoidance of doubt, shall not include any shares of Common Stock issued by the Corporation upon
conversion of, or payment of a dividend on, this Preferred Stock), (ii) subdivides outstanding shares of Common Stock into a larger number
of shares, (iii) combines (including by way of a reverse stock split) outstanding shares of Common Stock into a smaller number of shares,
or (iv) issues, in the event of a reclassification of shares of the Common Stock, any shares of capital stock of the Corporation, then
the Conversion Price shall be multiplied by a fraction of which the numerator shall be the number of shares of Common Stock (excluding
any treasury shares of the Corporation) outstanding immediately before such event, and of which the denominator shall be the number of
shares of Common Stock outstanding immediately after such event. Any adjustment made pursuant to this Section 7(a) shall become effective
immediately after the record date for the determination of stockholders entitled to receive such dividend or distribution and shall become
effective immediately after the effective date in the case of a subdivision, combination or re-classification.

 

b)
Subsequent Rights Offerings. In addition to any adjustments pursuant to Section 7(a) above, if at any time the Corporation grants,
issues or sells any Common Stock Equivalents or rights to purchase stock, warrants, securities or other property pro rata to the record
holders of any class of shares of Common Stock (the “Purchase Rights”), then the Holder will be entitled to acquire,
upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could have acquired if the Holder had
held the number of shares of Common Stock acquirable upon complete conversion of such Holder’s Preferred Stock (without regard
to any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before the date
on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of which
the record holders of shares of Common Stock are to be determined for the grant, issue or sale of such Purchase Rights (provided, however,
to the extent that the Holder’s right to participate in any such Purchase Right would result in the Holder exceeding the Beneficial
Ownership Limitation, then the Holder shall not be entitled to participate in such Purchase Right to such extent (or beneficial ownership
of such shares of Common Stock as a result of such Purchase Right to such extent) and such Purchase Right to such extent shall be held
in abeyance for the Holder until such time, if ever, as its right thereto would not result in the Holder exceeding the Beneficial Ownership
Limitation)

 

c)
Pro Rata Distributions. During such time as this Preferred Stock is outstanding, if the Corporation declares or makes any dividend
or other distribution of its assets (or rights to acquire its assets) to holders of shares of Common Stock, by way of return of capital
or otherwise (including, without limitation, any distribution of cash, stock or other securities, property or options by way of a dividend,
spin off, reclassification, corporate rearrangement, scheme of arrangement or other similar transaction) (a “Distribution”),
at any time after the issuance of this Preferred Stock, then, in each such case, the Holder shall be entitled to participate in such
Distribution to the same extent that the Holder would have participated therein if the Holder had held the number of shares of Common
Stock acquirable upon complete conversion of this Preferred Stock (without regard to any limitations on conversion hereof, including
without limitation, the Beneficial Ownership Limitation) immediately before the date of which a record is taken for such Distribution,
or, if no such record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the participation
in such Distribution (provided, however, to the extent that the Holder’s right to participate in any such Distribution
would result in the Holder exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate in such
Distribution to such extent (or in the beneficial ownership of any shares of Common Stock as a result of such Distribution to such extent)
and the portion of such Distribution shall be held in abeyance for the benefit of the Holder until such time, if ever, as its right thereto
would not result in the Holder exceeding the Beneficial Ownership Limitation).

 

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d)
Fundamental Transaction. If, at any time while this Preferred Stock is outstanding, (i) the Corporation, directly or indirectly,
in one or more related transactions effects any merger or consolidation of the Corporation with or into another Person, (ii) the Corporation,
directly or indirectly, effects any sale, lease, license, assignment, transfer, conveyance or other disposition of all or substantially
all of its assets in one or a series of related transactions, (iii) any, direct or indirect, purchase offer, tender offer or exchange
offer (whether by the Corporation or another Person) is completed pursuant to which holders of Common Stock are permitted to sell, tender
or exchange their shares for other securities, cash or property and has been accepted by the holders of 50% or more of the outstanding
Common Stock, (iv) the Corporation, directly or indirectly, in one or more related transactions effects any reclassification, reorganization
or recapitalization of the Common Stock or any compulsory share exchange pursuant to which the Common Stock is effectively converted
into or exchanged for other securities, cash or property, or (v) the Corporation, directly or indirectly, in one or more related transactions
consummates a stock or share purchase agreement or other business combination (including, without limitation, a reorganization, recapitalization,
spin-off or scheme of arrangement) with another Person whereby such other Person acquires more than 50% of the outstanding shares of
Common Stock (not including any shares of Common Stock held by the other Person or other Persons making or party to, or associated or
affiliated with the other Persons making or party to, such stock or share purchase agreement or other business combination) (each a “Fundamental
Transaction”), then, upon any subsequent conversion of this Preferred Stock, the Holder shall have the right to receive, for
each Conversion Share that would have been issuable upon such conversion immediately prior to the occurrence of such Fundamental Transaction
(without regard to any limitation in Section 6(d) on the conversion of this Preferred Stock), the number of shares of Common Stock of
the successor or acquiring corporation or of the Corporation, if it is the surviving corporation, and any additional consideration (the
“Alternate Consideration”) receivable as a result of such Fundamental Transaction by a holder of the number of shares
of Common Stock for which this Preferred Stock is convertible immediately prior to such Fundamental Transaction (without regard to any
limitation in Section 6(d) on the conversion of this Preferred Stock). For purposes of any such conversion, the determination of the
Conversion Price shall be appropriately adjusted to apply to such Alternate Consideration based on the amount of Alternate Consideration
issuable in respect of one share of Common Stock in such Fundamental Transaction, and the Corporation shall apportion the Conversion
Price among the Alternate Consideration in a reasonable manner reflecting the relative value of any different components of the Alternate
Consideration. If holders of Common Stock are given any choice as to the securities, cash or property to be received in a Fundamental
Transaction, then the Holder shall be given the same choice as to the Alternate Consideration it receives upon any conversion of this
Preferred Stock following such Fundamental Transaction. To the extent necessary to effectuate the foregoing provisions, any successor
to the Corporation or surviving entity in such Fundamental Transaction shall file a new Certificate of Designation with the same terms
and conditions and issue to the Holders new preferred stock consistent with the foregoing provisions and evidencing the Holders’
right to convert such preferred stock into Alternate Consideration. The Corporation shall cause any successor entity in a Fundamental
Transaction in which the Corporation is not the survivor (the “Successor Entity”) to assume in writing all of the
obligations of the Corporation under this Certificate of Designation in accordance with the provisions of this Section 7(d) pursuant
to written agreements in form and substance reasonably satisfactory to the Holder and approved by the Holder (without unreasonable delay)
prior to such Fundamental Transaction and shall, at the option of the holder of this Preferred Stock, deliver to the Holder in exchange
for this Preferred Stock a security of the Successor Entity evidenced by a written instrument substantially similar in form and substance
to this Preferred Stock which is convertible for a corresponding number of shares of capital stock of such Successor Entity (or its parent
entity) equivalent to the shares of Common Stock acquirable and receivable upon conversion of this Preferred Stock (without regard to
any limitations on the conversion of this Preferred Stock) prior to such Fundamental Transaction, and with a conversion price which applies
the conversion price hereunder to such shares of capital stock (but taking into account the relative value of the shares of Common Stock
pursuant to such Fundamental Transaction and the value of such shares of capital stock, such number of shares of capital stock and such
conversion price being for the purpose of protecting the economic value of this Preferred Stock immediately prior to the consummation
of such Fundamental Transaction), and which is reasonably satisfactory in form and substance to the Holder. Upon the occurrence of any
such Fundamental Transaction, the Successor Entity shall succeed to, and be substituted for (so that from and after the date of such
Fundamental Transaction, the provisions of this Certificate of Designation referring to the “Corporation” shall refer instead
to the Successor Entity), and may exercise every right and power of the Corporation and shall assume all of the obligations of the Corporation
under this Certificate of Designation with the same effect as if such Successor Entity had been named as the Corporation herein.

 

    	11

    	 

    

 

(e)
Certain Anti-Dilution Adjustments. If the Corporation, at any time while any of the shares of Preferred Stock are outstanding,
issues, sells, or grants any option to purchase or sells, or grants any right to reprice, or otherwise disposes of or issues ( or announces
any sale, grant or any option to purchase or other disposition) any Common Stock or Common Stock Equivalents entitling any person to
acquire Common Stock without consideration or for a consideration per share less than the applicable Conversion Price (such lower price,
the “Base Conversion Price” and such issuance a “Dilutive Issuance”), then with respect to each
such Dilutive Issuance, the Conversion Price as in effect immediately prior to each such Dilutive Issuance shall forthwith be lowered
to a price equal to such Dilutive Issuance price, subject to adjustment for reverse and forward stock splits and the like. Such adjustment
shall be made whenever such Common Stock or Common Stock Equivalents are issued; provided, however, that notwithstanding the foregoing,
the Conversion Price shall not be adjusted to be less than the Reduced Conversion Floor Price (as defined below); provided further, however,
that the Conversion Price can be reduced below the Reduced Conversion Floor Price if the Corporation is not then subject to Nasdaq Listing
Rule 5635(d) or if approved by the Nasdaq Stock Market LLC (the “Principal Market”). If the Corporation enters into
a variable rate transaction, the Corporation shall be deemed to have issued Common Stock or Common Stock Equivalents at the lowest possible
conversion, exercise or issue price at which such may be converted, exercised or issued. The Corporation shall notify the Holder in writing,
no later than the Trading Day preceding the issuance of any Common Stock or Common Stock Equivalents subject to this Section 7(e) indicating
therein the applicable issuance price, or applicable reset price, exchange price, conversion price and other pricing terms. The foregoing
notwithstanding, no reduction of the Conversion Price shall be less than fifty (50%) of the Conversion Price on the issuance date (subject
to appropriate adjustments for stock splits, stock dividends, recapitalizations, reorganizations, reclassifications, combinations, reverse
stock splits, or other similar transactions after the issuance date) (the “Reduced Conversion Floor Price”). As used
in this paragraph, “variable rate transaction” means a transaction in which the Corporation (i) issues or sells any debt
or equity securities that are convertible into, exchangeable or exercisable for, or include the right to receive additional shares of
Common Stock either (A) at a conversion price, exercise price or exchange rate or other price that is based upon and/or varies with the
trading prices of or quotations for the shares of Common Stock at any time after the initial issuance of such debt or equity securities,
or (B) with a conversion, exercise or exchange price that is subject to being reset at some future date after the initial issuance of
such debt or equity security or upon the occurrence of specified or contingent events directly or indirectly related to the business
of the Corporation or the market for the Common Stock or (ii) enters into, or effects a transaction under, any agreement, including,
but not limited to, an equity line of credit, whereby the Corporation may issue securities at a future determined price

 

f)
Exchange Cap. The Corporation shall not issue any shares of Common Stock upon conversion of the Preferred Stock or otherwise pursuant
to the terms of this Certificate of Designation if the issuance of such shares of Common Stock would exceed the aggregate number of shares
of Common Stock that the Corporation may issue upon conversion of the Preferred Stock or otherwise pursuant to the terms of this Certificate
of Designation without breaching the Corporation’s obligations, if any, under the rules or regulations of the Principal Market
(the number of shares which may be issued without violating such rules and regulations, including rules related to the aggregation of
offerings, under Nasdaq Listing Rule 5635(d), as applicable, the “Exchange Cap”). The Corporation acknowledges and represents
that the issuance of Conversion Shares upon conversion of the Preferred Stock in accordance with the terms of this Certificate of Designation
as in effect upon the issuance date are in compliance with Nasdaq Listing Rule 5635(d) and not subject to the Exchange Cap.

 

g)
Calculations. All calculations under this Section 7 shall be made to the nearest cent or the nearest 1/100th of a share, as the
case may be. For purposes of this Section 7, the number of shares of Common Stock deemed to be issued and outstanding as of a given date
shall be the sum of the number of shares of Common Stock (excluding any treasury shares of the Corporation) issued and outstanding.

 

    	12

    	 

    

 

h)
Notice to the Holders.

 

i.
Adjustment to Conversion Price. Whenever the Conversion Price is adjusted pursuant to any provision of this Section 7, the Corporation
shall promptly deliver to each Holder by facsimile or email a notice setting forth the Conversion Price after such adjustment and setting
forth a brief statement of the facts requiring such adjustment.

 

ii.
Notice to Allow Conversion by Holder. If (A) the Corporation shall declare a dividend (or any other distribution in whatever form)
on the Common Stock, (B) the Corporation shall declare a special nonrecurring cash dividend on or a redemption of the Common Stock, (C)
the Corporation shall authorize the granting to all holders of the Common Stock of rights or warrants to subscribe for or purchase any
shares of capital stock of any class or of any rights, (D) the approval of any stockholders of the Corporation shall be required in connection
with any reclassification of the Common Stock, any consolidation or merger to which the Corporation is a party, any sale or transfer
of all or substantially all of the assets of the Corporation, or any compulsory share exchange whereby the Common Stock is converted
into other securities, cash or property or (E) the Corporation shall authorize the voluntary or involuntary dissolution, liquidation
or winding up of the affairs of the Corporation, then, in each case, the Corporation shall cause to be filed at each office or agency
maintained for the purpose of conversion of this Preferred Stock, and shall cause to be delivered by facsimile or email to each Holder
at its last facsimile number or email address as it shall appear upon the stock books of the Corporation, at least twenty (20) calendar
days prior to the applicable record or effective date hereinafter specified, a notice stating (x) the date on which a record is to be
taken for the purpose of such dividend, distribution, redemption, rights or warrants, or if a record is not to be taken, the date as
of which the holders of the Common Stock of record to be entitled to such dividend, distributions, redemption, rights or warrants are
to be determined or (y) the date on which such reclassification, consolidation, merger, sale, transfer or share exchange is expected
to become effective or close, and the date as of which it is expected that holders of the Common Stock of record shall be entitled to
exchange their shares of the Common Stock for securities, cash or other property deliverable upon such reclassification, consolidation,
merger, sale, transfer or share exchange, provided that the failure to deliver such notice or any defect therein or in the delivery thereof
shall not affect the validity of the corporate action required to be specified in such notice. To the extent that any notice provided
hereunder constitutes, or contains, material, non-public information regarding the Corporation or any of the Subsidiaries, the Corporation
shall simultaneously file such notice with the Commission pursuant to a Current Report on Form 8-K. The Holder shall remain entitled
to convert the Conversion Amount of this Preferred Stock (or any part hereof) during the 20-day period commencing on the date of such
notice through the effective date of the event triggering such notice except as may otherwise be expressly set forth herein.

 

    	13

    	 

    

 

Section
8. Right of Participation.

 

From
the date hereof until the shares of Preferred Stock are no longer outstanding, upon any proposed issuance by the Corporation or any of
its Subsidiaries of Common Stock, Common Stock Equivalents, equity, indebtedness or a combination thereof, other than Exempt Issuances
(each a “Subsequent Financing”), the Holders shall have the right to participate in up to an amount of the Subsequent
Financing equal to 100% of the Subsequent Financing (the “Participation Maximum”) pro rata to each other in proportion
to their shares of Preferred Stock issued to them, on the same terms, conditions and price provided for in the Subsequent Financing,
unless the Subsequent Financing is an underwritten public offering, in which case the Corporation shall notify each Holder of such public
offering when it is lawful. If such information would constitute material non-public information, such information will be given by confirmed
delivery to the Holders’ counsel, in accordance with delivery instructions to be provided to the Corporation from time to time,
who shall have no obligation to convey such information to the Holders.

 

Section
9. Negative Covenants.

 

As
long as any shares of Preferred Stock remain outstanding, unless the holders of a majority of the then outstanding shares of Preferred
Stock shall have otherwise given prior written consent, the Corporation shall not, and shall not permit any of the Subsidiaries to, directly
or indirectly:

 

a)
enter into, create, incur, assume, guarantee or suffer to exist any indebtedness for borrowed money of any kind, including, but not limited
to, a guarantee, on or with respect to any of its property or assets now owned or hereafter acquired or any interest therein or any income
or profits therefrom;

 

b)
enter into, create, incur, assume or suffer to exist any liens of any kind, on or with respect to any of its property or assets now owned
or hereafter acquired or any interest therein or any income or profits therefrom;

 

c)
amend its charter documents, including, without limitation, its certificate of incorporation and bylaws, in any manner that materially
and adversely affects any rights of the Holder;

 

d)
repay, repurchase or offer to repay, repurchase or otherwise acquire more than a de minimis number of shares of its Common Stock or Common
Stock Equivalents other than as to the Conversion Shares as permitted or required under this Certificate of Designation.

 

e)
redeem, defease, repurchase, repay or make any payments in respect of, by the payment of cash or cash equivalents (in whole or in part,
whether by way of open market purchases, tender offers, private transactions or otherwise), all or any portion of any indebtedness, whether
by way of payment in respect of principal of (or premium, if any) or interest on, such indebtedness;

 

    	14

    	 

    

 

f)
declare or make any dividend or other distribution of its assets or rights to acquire its assets to holders of shares of Common Stock,
by way of return of capital or otherwise including, without limitation, any distribution of cash, stock or other securities, property
or options by way of a dividend, spin off, reclassification, liquidation, distribution, preferential payments in connection with any
securities or debt issuances, corporate rearrangement, scheme of arrangement or other similar transaction;

 

g)
issue any Common Stock or Common Stock Equivalents except as permitted herein;

 

h)
enter into any transaction with any Affiliate of the Corporation which would be required to be disclosed in any public filing with the
Commission, unless such transaction is made on an arm’s length basis and expressly approved by a majority of the disinterested
directors of the Corporation (even if less than a quorum otherwise required for board approval);

 

(i)
issue or sell, adjust, amend or modify any Common Stock or any Common Stock Equivalents at a price per share or at an effective price
per share that is lower than the then in effect Conversion Price from time to time and at such time; and

 

(j)
enter into any agreement with respect to any of the foregoing.

 

Section
10. Miscellaneous.

 

a)
Notices. Any and all notices or other communications or deliveries to be provided by the Holders hereunder including, without
limitation, any Notice of Conversion, shall be in writing and delivered personally, by facsimile, by e-mail or sent by a nationally recognized
overnight courier service, addressed to the Corporation at 468 Historic Decatur Road Suite 140 San Diego, California 92106, Attention:
[____], facsimile number: [___], email address: [_____], or such other facsimile number, e-mail address or address as the Corporation
may specify for such purposes by notice to the Holders delivered in accordance with this Section 8. Any and all notices or other communications
or deliveries to be provided by the Corporation hereunder shall be in writing and delivered personally, by facsimile, by e-mail or sent
by a nationally recognized overnight courier service addressed to each Holder at the facsimile number or address of such Holder appearing
on the books of the Corporation, or if no such facsimile number or address appears on the books of the Corporation, at the principal
place of business of such Holder. Any notice or other communication or deliveries hereunder shall be deemed given and effective on the
earliest of (i) the date of transmission, if such notice or communication is delivered via facsimile at the facsimile number or via e-mail
at the e-mail address set forth in this Section prior to 5:30 p.m. (New York City time) on any date, (ii) the next Trading Day after
the date of transmission, if such notice or communication is delivered via facsimile at the facsimile number or via e-mail at the e-mail
address set forth in this Section on a day that is not a Trading Day or later than 5:30 p.m. (New York City time) on any Trading Day,
(iii) the second Trading Day following the date of mailing, if sent by U.S. nationally recognized overnight courier service, or (iv)
upon actual receipt by the party to whom such notice is required to be given. To the extent that any notice provided pursuant to this
Certificate of Designation constitutes, or contains, material, non-public information regarding the Corporation or any Subsidiaries,
the Corporation shall simultaneously file such notice with the Commission pursuant to a Current Report on Form 8-K. Notwithstanding any
other provision of this Certificate of Designation, where this Certificate of Designation provides for notice of any event to a Holder,
if the Preferred Stock is held in global form by DTC (or any successor depositary), such notice may be delivered via DTC (or such successor
depositary) pursuant to the procedures of DTC (or such successor depositary).

 

    	15

    	 

    

 

b)
Absolute Obligation. Except as expressly provided herein, no provision of this Certificate of Designation shall alter or impair
the obligation of the Corporation, which is absolute and unconditional, to pay liquidated damages and accrued dividends, as applicable,
on the shares of Preferred Stock at the time, place, and rate, and in the coin or currency, herein prescribed.

 

c)
Lost or Mutilated Preferred Stock Certificate. If a Holder’s Preferred Stock certificate shall be mutilated, lost, stolen
or destroyed, the Corporation shall execute and deliver, in exchange and substitution for and upon cancellation of a mutilated certificate,
or in lieu of or in substitution for a lost, stolen or destroyed certificate, a new certificate for the shares of Preferred Stock so
mutilated, lost, stolen or destroyed, but only upon receipt of evidence of such loss, theft or destruction of such certificate, and of
the ownership hereof reasonably satisfactory to the Corporation.

 

d)
Governing Law. All questions concerning the construction, validity, enforcement and interpretation of this Certificate of Designation
shall be governed by and construed and enforced in accordance with the internal laws of the State of Delaware, without regard to the
principles of conflict of laws thereof. Each party agrees that all legal proceedings concerning the interpretation, enforcement and defense
of the transactions contemplated by this Certificate of Designation (whether brought against a party hereto or its respective Affiliates,
directors, officers, shareholders, employees or agents) shall be commenced in the state and federal courts sitting in the City of New
York, Borough of Manhattan (the “New York Courts”). Each party hereto hereby irrevocably submits to the exclusive
jurisdiction of the New York Courts for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated
hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that
it is not personally subject to the jurisdiction of such New York Courts, or such New York Courts are improper or inconvenient venue
for such proceeding. Each party hereby irrevocably waives personal service of process and consents to process being served in any such
suit, action or proceeding by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery)
to such party at the address in effect for notices to it under this Certificate of Designation and agrees that such service shall constitute
good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to
serve process in any other manner permitted by applicable law. Each party hereto hereby irrevocably waives, to the fullest extent permitted
by applicable law, any and all right to trial by jury in any legal proceeding arising out of or relating to this Certificate of Designation
or the transactions contemplated hereby. If any party shall commence an action or proceeding to enforce any provisions of this Certificate
of Designation, then the prevailing party in such action or proceeding shall be reimbursed by the other party for its attorneys’
fees and other costs and expenses incurred in the investigation, preparation and prosecution of such action or proceeding.

 

    	16

    	 

    

 

e)
Waiver. Any waiver by the Corporation or a Holder of a breach of any provision of this Certificate of Designation shall not operate
as or be construed to be a waiver of any other breach of such provision or of any breach of any other provision of this Certificate of
Designation or a waiver by any other Holders. The failure of the Corporation or a Holder to insist upon strict adherence to any term
of this Certificate of Designation on one or more occasions shall not be considered a waiver or deprive that party (or any other Holder)
of the right thereafter to insist upon strict adherence to that term or any other term of this Certificate of Designation on any other
occasion. Any waiver by the Corporation or a Holder must be in writing.

 

f)
Severability. If any provision of this Certificate of Designation is invalid, illegal or unenforceable, the balance of this Certificate
of Designation shall remain in effect, and if any provision is inapplicable to any Person or circumstance, it shall nevertheless remain
applicable to all other Persons and circumstances. If it shall be found that any interest or other amount deemed interest due hereunder
violates the applicable law governing usury, the applicable rate of interest due hereunder shall automatically be lowered to equal the
maximum rate of interest permitted under applicable law.

 

g)
Next Business Day. Whenever any payment or other obligation hereunder shall be due on a day other than a Business Day, such payment
shall be made on the next succeeding Business Day.

 

h)
Headings. The headings contained herein are for convenience only, do not constitute a part of this Certificate of Designation
and shall not be deemed to limit or affect any of the provisions hereof.

 

i)
Status of Converted or Redeemed Preferred Stock. If any shares of Preferred Stock shall be converted, redeemed or reacquired by
the Corporation, such shares shall resume the status of authorized but unissued shares of preferred stock and shall no longer be designated
as Series B Convertible Preferred Stock.

 

*********************

 

    	17

    	 

    

 

RESOLVED,
FURTHER, that the Chairman, the president or any vice-president, and the secretary or any assistant secretary, of the Corporation be
and they hereby are authorized and directed to prepare and file this Certificate of Designation of Preferences, Rights and Limitations
in accordance with the foregoing resolution and the provisions of Delaware law.

 

IN
WITNESS WHEREOF, the undersigned have executed this Certificate this ___ day of _____, 2022.

 

	 	 	 
	Name:	 	Name:
	Title:	 	Title:

 

    	18

    	 

    

 

ANNEX
A

 

NOTICE
OF CONVERSION

 

(TO
BE EXECUTED BY THE REGISTERED HOLDER IN ORDER TO CONVERT SHARES OF PREFERRED STOCK)

 

The
undersigned hereby elects to convert the number of shares of Series B Convertible Preferred Stock indicated below into shares of common
stock, par value $0.001 per share (the “Common Stock”), of Sigyn Therapeutics, Inc., a Delaware corporation (the “Corporation”),
according to the conditions hereof, as of the date written below. If shares of Common Stock are to be issued in the name of a Person
other than the undersigned, the undersigned will pay all transfer taxes payable with respect thereto. No fee will be charged to the Holders
for any conversion, except for any such transfer taxes.

 

Conversion
calculations:

 

Date
to Effect Conversion: ___________________________________________________________________

 

Number
of shares of Preferred Stock owned prior to Conversion: ________________________

 

Number
of shares of Preferred Stock to be Converted: _________________________________

 

Stated
Value of shares of Preferred Stock to be Converted: ______________________________

 

Number
of shares of Common Stock to be Issued: _____________________________________

 

Applicable
Conversion Price: _____________________________________________________

 

Number
of shares of Preferred Stock subsequent to Conversion: _________________________

 

Address
for Delivery: ___________________________

Or

 

DWAC
Instructions:

Broker
no: _____________

Account
no: ________________

 

	 	[HOLDER
	 	 	 
	 	By:	        
	 	Name: 	 
	 	Title:	 

 

    	19

    	 

    

 

ANNEX
B

 

UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
TO THE CORPORATION OR THE TRANSFER AGENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME
AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED
BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO. HAS AN INTEREST HEREIN. TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO
TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE.

 

THE
CORPORATION IS AUTHORIZED TO ISSUE MORE THAN ONE CLASS OF STOCK AND MORE THAN ONE SERIES OF ITS CLASS OF PREFERRED STOCK. THE CORPORATION
WILL FURNISH WITHOUT CHARGE TO EACH STOCKHOLDER WHO SO REQUESTS THE POWERS, DESIGNATIONS, PREFERENCES AND RELATIVE PARTICIPATING, OPTIONAL
OR OTHER SPECIAL RIGHTS OF EACH CLASS OF STOCK OR SERIES THEREOF AND THE QUALIFICATIONS, LIMITATIONS OR RESTRICTIONS OF SUCH PREFERENCES
AND/OR RIGHTS.

 

Incorporated
under the laws of the State of Delaware, [INSERT DATE]

 

Certificate
Number: ____

Initial
Number of Shares of Series B Convertible Preferred Stock: ______

 

	 	CUSIP
    _________
	 	ISIN
    _________

 

    	20

    	 

    

 

SIGYN
THERAPEUTICS, INC.

 

Sigyn
Therapeutics, Inc. (the “Corporation”) hereby certifies that Cede & Co. (the “Holder”) is the
registered owner of ______ fully paid and non-assessable shares of the Corporation’s designated Series B Convertible Preferred
Stock, par value $0.001 per share (the “Series B Preferred Stock”), transferable on the books and records of the Transfer
Agent, in person or by a duly authorized attorney, upon surrender of this certificate duly endorsed or assigned and in proper form for
transfer.

 

This
Certificate and the shares represented hereby are issued and shall be held subject to all the provisions of the Certificate of Incorporation,
as amended, and the Bylaws of the Corporation and any amendments thereto, including the provisions of the Certificate of Designation
of Preferences, Rights and Limitations, dated ______, 2022, as the same may be amended from time to time (the “Certificate of
Designations”). Capitalized terms used herein but not defined shall have the meaning given them in the Certificate of Designations.

 

The
shares of the Series B Preferred Stock shall be convertible in the manner and accordance with the terms set forth in the Certificate
of Designations.

 

Reference
is hereby made to the provisions of the Series B Preferred Stock set forth in the Certificate of Designations, which provisions shall
for all purposes have the same effect as if set forth at this place.

 

Upon
receipt of this executed certificate, the Holder is bound by the Certificate of Designations and is entitled to the benefits thereunder.

 

Unless
the Transfer Agent has properly countersigned, these shares of the Series B Preferred Stock shall not be entitled to any benefit under
the Certificate of Designations or be valid or obligatory for any purpose.

 

IN
WITNESS WHEREOF the said Corporation has caused this Certificate to be signed by its duly authorized officer as of ________, 2022.

 

	 	By:	 
	 	Name: 	 
	 	Title:	Chief
    Executive Officer

 

    	21

    	 

    

 

COUNTERSIGNATURE

 

These
are shares of the Series B Convertible Preferred Stock referred to in the within-mentioned Certificate of Designations.

 

Dated:
________, 2022

 

_________________,
LLC, as Transfer Agent

 

	 	By:	 
	 	Name: 	 
	 	Title:	 

 

    	22PURCHASE AND SALE AGREEMENT
  

   
   

  
   THIS PURCHASE AND SALE AGREEMENT (this “Agreement”) is made as of October 26, 2022 (the “Effective Date”) by and between AEI INCOME & GROWTH FUND 24 LLC, a Delaware limited liability company (“Seller”) and AEI INCOME & GROWTH FUND 25 LLC, a Delaware limited liability company (“Buyer”). Seller desires to sell, and Buyer desires to purchase, all of Seller’s right, title and interest in the real property and improvements thereupon located at 100 North Macon Street, Macon, Georgia as more particularly described on Exhibit “A” attached hereto (the “Property”).
  

   
   

  
   In consideration of the mutual covenants set forth herein and other good and valuable consideration, the receipt and sufficiency of which are hereby mutually acknowledged, the parties hereto covenant and agree as follows:
  

   
   

  
    
     1.
    

    
     Property.  The property to be sold to Buyer in this transaction consists of an undivided 50% interest in the Property.
    

  

   
   

  
    
     2.
    

    
     Lease.  The Property is being sold subject to an existing Lease of the Property dated May 1, 2012, by and between Buyer and Seller, on one hand, as tenants-in-common, collectively as lessor (pursuant to that certain Assignment and Assumption of Lease dated July 25, 2012 by and between Bass Road Urgent Care, LLC, a Georgia limited liability company, as assignor, and Buyer and Seller, collectively as assignee), and Macon Healthcare, LLC, a Delaware limited liability company, as lessee, on the other hand (the “Tenant”), and the Sublease to The Hughston Clinic, P.C. (the “Sublessee”) dated June 28, 2018 and amended by the First Amendment to Medical Office Building Lease dated June 28, 2018 (the “Sublease”) (collectively, the “Lease”). The Seller agrees to sell and convey to Buyer, and Buyer agrees to purchase from Seller, all right, title, and interest of Seller in and to all leases and other agreements to occupy all or any portion of the Property that are in effect on the Effective Date or which Seller executed prior to Closing (as hereinafter defined) pursuant to the terms of this Agreement.
    

  

   
   

  
    
     3.
    

    
     Purchase Price.  The Purchase Price for the Property is $1,050,000.00 (the “Purchase Price”).  The parties acknowledge and agree that the Purchase Price is based upon the fair market value of the of the Property as determined by CBRE Valuation & Advisory Services, an independent, third-party, commercial property appraiser, and the Purchase Price was derived with material assistance and reliance on that certain Appraisal Report September 1, 2022 under CBRE file number CB22US096971-1.  If all conditions precedent to Buyer’s obligations to purchase have been satisfied, Buyer shall deposit the Purchase Price with the Closing Agent (as defined below) on or before the Closing Date.
    

  

   
   

  
    
     4.
    

    
     Terms.  The Purchase Price will be paid by Buyer as follows:
    

  

   
   

  
  1

  

    
     a)
    

    
     Within ten (10) days of written demand by Seller, which may be provided at any time on or before the Closing Date, Buyer shall deposit $100.00 (the “Earnest Money”) into an interest-bearing account with First American Title Insurance Company, 1380 17th Street, Denver, Colorado, 80202, Attn: Marina Garza; phone number: (303) 876-1112; email: mgarza@firstam.com (the “Closing Agent” or “Title Company” or “Escrow Agent”). Upon expiration of the Review Period (as defined below), Earnest Money shall become non-refundable. The Earnest Money shall be credited against the Purchase Price when and if escrow closes and the sale is completed.  Notwithstanding anything to the contrary contained herein, all $100.00 of the Earnest Money shall be considered non-refundable option consideration in consideration for the parties having entered into this Agreement.  Any return of the Earnest Money to Buyer pursuant to the terms hereof shall be less the option consideration.
    

  

   
   

  
    
     b)
    

    
     Buyer will deposit the balance of the Purchase Price into escrow in sufficient time to allow escrow to close on the Closing Date.
    

  

   
   

  
    
     5.
    

    
     Closing Date.  Escrow shall close (the “Closing”) on or before ten (10) days following the expiration of the Review Period set forth below (the “Closing Date”), unless the parties mutually agree otherwise.
    

  

   
   

  
    
     6.
    

    
     Due Diligence.  Buyer will have thirty (30) days from the Effective Date of this Agreement (the “Review Period”) to conduct all of its inspections and due diligence and satisfy itself regarding the Property and this transaction. Buyer agrees to indemnify and hold Seller harmless for any loss or damage to the Property or persons caused by Buyer or its agents arising out of such physical inspections of the Property, and this indemnity shall survive Closing or termination of this Agreement. Within ten (10) days of the Effective Date of this Agreement, Seller shall provide, to the extent such items are in its possession, the items listed on Exhibit “B” (“Seller’s Materials”). 
    

  

   
   

  
   Buyer may cancel this Agreement before the expiration of the Review Period for any reason in its sole discretion by delivering a cancellation notice to Seller and Closing Agent prior to the expiration of the Review Period. If this Agreement is not cancelled as set forth above, the Earnest Money shall be non-refundable unless Seller shall default hereunder, or in the event of a casualty or condemnation, subject to the provisions of Section 16 below.
  

   
   

  
   If Buyer cancels this Agreement before the expiration of the Review Period, as permitted under this Section, except for any escrow cancellation fees charged by the Title Company and any liabilities under the first paragraph of section 6 of this Agreement and those provisions stating otherwise (which will survive), Seller (after execution of such documents reasonably requested by Seller to evidence the termination hereof) shall return to Buyer its Earnest Money and Buyer will have absolutely no rights, claims or interest of any type in connection with the Property or this transaction, regardless of any alleged conduct by Buyer, Seller or anyone else.
  

   
   

  
  2

  

   If Buyer fails to close this transaction at no fault of Seller, Buyer will be irrevocably deemed in default of this Agreement. Upon default by Buyer, Seller may, as its option, retain the Earnest Money as its sole and exclusive remedy and declare this Agreement null and void, in which event Buyer will be deemed to have cancelled this Agreement and relinquish all rights in and to the Property, or Seller may exercise its rights hereunder. The Review Period will be deemed satisfied if Buyer has deposited the Earnest Money as required by Section 4 hereof, and this agreement is not cancelled.
  

   
   

  
    
     7.
    

    
     Escrow.  Escrow shall be opened upon execution of this Agreement by both parties. A copy of this Agreement will be delivered to the Title Company and will serve as escrow instructions together with the Title Company’s standard instructions, any additional instructions required by Seller and/or Buyer or their respective counsels, and any additional instructions required by the Title Company to clarify its rights and duties. The parties agree to sign these additional instructions. If there is any conflict between these other instructions and this Agreement, this Agreement shall control.
    

  

   
   

  
    
     8.
    

    
     Title.  Buyer, at its sole expense, within ten (10) days of the Effective Date, may order an updated title insurance commitment, along with underlying documents to include any easement or declarations/CAM affecting the Property, for an Owner’s Title Insurance Policy (collectively, the “Title Commitment”). Closing will be conditioned on the agreement of the Title Company to issue an Owner’s Title Insurance Policy, dated as of the Closing Date, in an amount equal to the Purchase Price, insuring that Buyer will own insurable fee simple title to the Property subject only to: the Title Company’s standard exceptions; current real property taxes and assessments; survey exceptions; the rights of parties in possession pursuant to the Lease; the Permitted Exceptions, as defined herein. 
    

  

   
   

  
   Buyer shall be allowed ten (10) days after receipt of said Title Commitment for examination and the making of any title objections thereto (the “Title Objections”), said Title Objections to be made in writing or deemed waived (such written notice of Buyer’s Title Objections to be hereinafter referred to as the “Notice of Objections”). Except as set forth below, any title exception disclosed by the Title Commitment or Buyer’s survey and not listed in such Notice of Objections shall be deemed a “Permitted Title Exception” under this Agreement.
  

   
   

  
   If Seller shall fail to cure (or commence to cure) or eliminate all the Title Objections listed in the Notice of Defect within ten (10) days after receipt of the Notice of Objections (the “Title Cure Period”), then Buyer may elect either to: (a) accept the Property subject to the title exception(s) not cured (in which case such title exception(s) shall become a Permitted Title Exception(s) hereunder), or (b) terminate this Agreement.
  

   
   

  
  3

  

   In the event that Seller agrees to cure a Title Objection and commences such cure, but the same cannot be cured within the Title Cure Period, the Buyer may, by written notice to Seller, preserve such Title Objection such that the cure of such Title Objection shall be a condition precedent to Buyer’s obligation to close. Buyer shall elect to either accept the Property subject to the Permitted Exceptions or terminate the Agreement by written notice to Seller delivered within three (3) business days following the end of the Title Cure Period, and the failure to deliver such election notice shall constitute an election to proceed under clause (a) above.  Any mortgage, security deed, lien, lis pendens, judgment, or other claim in a liquidated amount incurred by Seller during Seller’s ownership of the Property and which constitutes an exception to the title to the Property shall not in any event be a Permitted Title Exception hereunder, but such claim shall be paid or satisfied out of the sums payable by Buyer at Closing, and the proceeds of sale payable to Seller shall be reduced accordingly; provided that such claim must have arisen directly from the acts or omissions of Seller, and not those of the Tenant.
  

   
   

  
  4

  

   At any time after the Effective Date of this Agreement and prior to Closing, Buyer shall have the right to notify Seller of any additional title exception which first appears of record after the effective date of the Title Commitment, or otherwise becomes known to Buyer. Buyer shall be allowed three (3) business days after notice of such additional title exception for examination and the making of any new Title Objections thereto by written notice to Seller (“Notice of New Objections”). Except as set forth herein, any title exception disclosed to Buyer and not listed in such Notice of New Objections shall be deemed a Permitted Title Exception. If Seller shall fail to cure (or commence to cure) or eliminate all the new Title Objections listed in the Notice of New Objections within ten (10) days after receipt of the Notice of New Objections (the “Second Title Cure Period”), then Buyer may elect either to: (a) accept the Property subject to the new title exception(s) not cured (in which case such new title exception(s) shall become a Permitted Title Exception(s) hereunder), or (b) terminate this Agreement.
  

   
   

  
    
     9.
    

    
     Closing Costs.  Seller shall pay the Standard Owner’s Title Insurance Policy premium in the full amount of the Purchase Price along with any title search and exam fees, if any. Seller shall pay all transfer taxes (state, county, and municipal, as applicable). Seller shall pay any and all brokerage commissions per separate agreement. Except as set forth above, both parties represent to the other that they have not been represented by a broker, and agree to hold the other harmless from any claim of brokerage commission by, through, or as a result of representation of the other party.
    

  

   
   

  
   Buyer shall pay the full cost of any endorsements to the Owner’s Title Insurance Policy and the full cost of any extended coverage as Buyer may require for such policy. Buyer will pay any and all recording fees. Buyer will pay the cost of updating any due diligence provided by Seller. Buyer and Seller will split all escrow and closing fees equally. Each party will pay its own attorney’s fees and costs to document and close this transaction.
  

   
   

  
    
     10.
    

    
     Real Estate Taxes, Special Assessments and Prorations.  The responsibility for all real property taxes for the current tax period and all expenses (including but not limited to common area maintenance expenses and fees), if any, that are the responsibility of Seller, shall be prorated between Buyer and Seller as of the Closing Date. 
    

  

   
   

  
   All income and all operating expenses from the Property, if any, shall be prorated between the parties and adjusted by them as of the Closing Date. Seller shall be entitled to all income earned, and shall be responsible for all expenses incurred, prior to the Closing Date. Buyer shall be entitled to all income earned, and shall be responsible for all operating expenses of the Property incurred, on and after the Closing Date.
  

   
   

  
    
     11.
    

    
     Seller’s Representations and Agreements.
    

  

   
   

  
    
     a)
    

    
     Seller represents and warrants as of this date that:
    

  

   
   

  
    
     i.
    

    
     Except for the existing Lease with the existing Tenant, Seller is not aware of any leases of the Property.
    

  

   
   

  
  5

  

    
     ii.
    

    
     Seller has not received notice of any pending litigation or condemnation proceedings against the Property or Seller’s interest in the Property.
    

  

   
   

  
    
     iii.
    

    
     Except as previously disclosed to Buyer and as permitted in paragraph (b) below, Seller is not aware of any contracts Seller has executed that would be binding on Buyer after the Closing Date.
    

  

   
   

  
    
     b)
    

    
     Provided that Buyer performs its obligations as required, Seller agrees that it will not enter into any new contracts that would materially affect the Property and be binding on Seller after the Closing Date without Buyer’s prior consent, which will not be unreasonably withheld or delayed.
    

  

   
   

  
    
     12.
    

    
     Disclosures.
    

  

   
   

  
    
     a)
    

    
     As of the Effective Date hereof, Seller has not received any notice of any material, physical, or mechanical defects of the Property, including without limitation, the plumbing, heating, air conditioning, and ventilating, electrical system. To the best of Seller’s knowledge without inquiry, all such items are in good operating condition and repair and in compliance with all applicable governmental, zoning, and land use laws, ordinances, regulations and requirements. If Seller shall receive any notice to the contrary prior to the Closing Date, Seller will inform Buyer prior to the Closing Date, and Buyer may terminate this Agreement and the Earnest Money will be returned.
    

  

   
   

  
    
     b)
    

    
     As of the Effective Date hereof, Seller has not received any notice that the use and operation of the Property is not in full compliance with applicable building codes, safety, fire, zoning, and land use laws, and other applicable local, state and federal laws, ordinances, regulations and requirements. If Seller shall receive any such notice prior to the Closing Date, Seller will inform Buyer prior to the Closing Date, and Buyer may terminate this Agreement and the Earnest Money will be returned.
    

  

   
   

  
    
     c)
    

    
     As of the Effective Date hereof, Seller has not received any notice that the Property is in violation of any federal, state or local law, ordinance, or regulations relating to industrial hygiene or the environmental conditions on, under, or about the Property, including, but not limited to, soil, and groundwater conditions. To the best of Seller’s knowledge, there is no proceeding or inquiry by any governmental authority with respect to the presence of Hazardous Materials on the Property or the migration of Hazardous Materials from or to other property. Buyer agrees that Seller will have no liability of any type to Buyer or Buyer’s successors, assigns, or affiliates in connection with any Hazardous Materials on or in connection with the Property either before or after the Closing Date, except such Hazardous Materials on or in connection with the Property arising out of Seller’s gross negligence or intentional misconduct. If Seller shall receive any notice to the contrary prior to the Closing Date, Seller will inform Buyer prior to the Closing Date, and Buyer may terminate this Agreement and the Earnest Money will be returned.
    

  

   
   

  
  6

  

    
     d)
    

    
     Buyer agrees that it is purchasing the Property in its present condition, “as is, where is,” and Seller has no obligations to construct or repair any improvements thereon or to perform any other act regarding the Property, except as expressly provided herein.
    

  

   
   

  
    
     e)
    

    
     Buyer acknowledges that, having been given the opportunity to inspect the Property, Buyer is relying solely on its own investigation of the Property and not on any representations or information provided by Seller or to be provided by Seller, except as set forth herein. Buyer further acknowledges that the information provided, or to be provided, by Seller with respect to the Property was obtained from a variety of sources and Seller has not (a) made independent investigation or verification of such information, and (b) makes no representations as to the accuracy or completeness of such information, except as herein set forth. The sale of the Property as provided for herein is made on an “as-is, where-is” basis and Buyer expressly acknowledges that, in consideration of the agreements of Seller herein, except as otherwise specified herein, Seller makes no warranty or representation, express or implied, or arising by operation of law, including, but not limited to, any warranty of condition, habitability, suitability for lease, suitability for commercial purposes, merchantability, or fitness for a particular purpose, in respect of the Property. Seller makes no representations of any sort that ownership of the Property will result in a profit to any Buyer.
    

  

   
   

  
    
     f)
    

    
     Buyer acknowledges that Seller cannot, and does not, make any representation as to (a) the success, or lack thereof, of the Property or continuation of the Lease post-Closing, or (b) the appropriateness of purchasing the Property for the Buyer’s individual tax or financial situation or tax or financial objectives. Buyer acknowledges that he or she is relying solely upon his or her own examination of the Property and all facts surrounding the purchase of the Property including the merits and risks involved therein.
    

  

   
   

  
   The Parties agree that the provisions of this Section 12, subsections (a) through (f), shall survive the Closing Date for a period of six (6) months.
  

   
   

  
    
     13.
    

    
     Closing.
    

  

   
   

  
    
     a)
    

    
     Before the Closing Date, Seller will deposit into escrow an executed special warranty deed warranting title against lawful claims by, through, or under a conveyance from Seller, but not further or otherwise, conveying insurable title of the Property to Buyer, subject to the exceptions provided herein.
    

  

   
   

  
    
     b)
    

    
     On or before the Closing Date, Buyer will deposit into escrow the balance of the Purchase Price when required hereunder and any additional funds required of Buyer (pursuant to this Agreement or any other agreement executed by Buyer) to close escrow. Both parties will deliver to the Title Company any other documents reasonably required by the Title Company to close escrow.
    

  

   
   

  
  7

  

    
     c)
    

    
     On or before the Closing Date, Seller and Buyer will deliver or cause to be delivered to Escrow Agent an Assignment and Assumption of Lease, duly executed and acknowledged by Seller and Buyer, assigning all of Seller’s interest in, to, and under the Lease to Buyer. 
    

  

   
   

  
    
     d)
    

    
     If required by the terms of the Lease, on or before the Closing Date, Seller will deposit into escrow a notice to Tenant of the sale of the Property to Buyer and of the Assignment and Assumption of Lease, such notice to be delivered by the Title Company to Tenant upon Closing. 
    

  

   
   

  
    
     e)
    

    
     On the Closing Date, if escrow is ready to close, the Title Company will: record the deed in the official records of the county where the Property is located; cause the Title Company to commit to issue the title policy; immediately deliver to Seller the portion of the Purchase Price deposited into escrow by cashier’s check or wire transfer (less debits and prorations, if any); deliver to Seller and Buyer a signed counterpart of the Title Company’s certified combined Closing statement showing all charges to all parties and take all other actions necessary to close escrow.
    

  

   
   

  
    
     14.
    

    
     Defaults.  IN THE EVENT THE SALE OF THE PROPERTY AS CONTEMPLATED HEREUNDER IS NOT CONSUMMATED BY REASON OF A DEFAULT OF BUYER UNDER THIS AGREEMENT, THE EARNEST MONEY (INCLUDING ALL INTEREST EARNED FROM THE INVESTMENT THEREOF) SHALL BE PAID TO AND RETAINED BY SELLER AS LIQUIDATED DAMAGES, AS SELLER’S SOLE AND EXCLUSIVE REMEDY UNDER THIS AGREEMENT, AT LAW OR IN EQUITY AS A RESULT OF SUCH DEFAULT. THE PARTIES ACKNOWLEDGE THAT SELLER’S ACTUAL DAMAGES IN THE EVENT THAT THE SALE IS NOT CONSUMMATED WOULD BE EXTREMELY DIFFICULT OR IMPRACTICABLE TO DETERMINE. THE PARTIES ACKNOWLEDGE THAT THE EARNEST MONEY HAS BEEN AGREED UPON AFTER NEGOTIATION AS THE PARTIES’ REASONABLE ESTIMATE OF SELLER’S DAMAGES AND AS SELLER’S SOLE AND EXCLUSIVE REMEDY UNDER THIS AGREEMENT, AT LAW OR IN EQUITY AGAINST BUYER IN THE EVENT THE CLOSING DOES NOT OCCUR BY REASON OF BUYER’S DEFAULT. BUYER AND SELLER ACKNOWLEDGE THAT THEY HAVE READ AND UNDERSTOOD THE ABOVE PROVISIONS COVERING LIQUIDATED DAMAGES, AND THAT EACH PARTY WAS REPRESENTED BY COUNSEL OR HAD THE OPPORTUNITY TO SEEK COUNSEL TO UNDERSTAND THE CONSEQUENCES OF THIS LIQUIDATED DAMAGES PROVISION AT THE TIME THIS AGREEMENT WAS EXECUTED. IF SELLER SHALL DEFAULT HEREUNDER, THEN BUYER MAY TERMINATE THIS AGREEMENT, WHEREUPON THE ENTIRE EARNEST MONEY SHALL BE RETURNED TO BUYER (TOGETHER WITH ALL INTEREST, IF ANY, EARNED THEREON) AS BUYER’S SOLE AND EXCLUSIVE REMEDY UNDER THIS AGREEMENT, AT LAW OR IN EQUITY AS A RESULT OF SUCH DEFAULT. BUYER HEREBY EXPRESSLY WAIVES, RELINQUISHES AND RELEASES ANY OTHER RIGHT OR REMEDY AVAILABLE TO IT AT LAW, IN EQUITY OR OTHERWISE BY REASON OF SELLER’S INABILITY OR FAILURE TO PERFORM ITS OBLIGATIONS.
    

  

   
   

  
    
     15.
    

    
     Buyer’s Representations and Warranties.
    

  

  
  8

  

 
   

  
    
     a)
    

    
     Buyer represents and warrants to Seller as follows:
    

  

   
   

  
    
     i.
    

    
     In addition to the acts and deeds recited herein and contemplated to be performed, executed, and delivered by Buyer, Buyer shall perform, execute and deliver or cause to be performed, executed, and delivered at the closing or after the Closing Date, any and all further acts, deeds and assurances as Seller or the Title Company may require and be reasonable in order to consummate the transactions contemplated herein.
    

  

   
   

  
    
     ii.
    

    
     Buyer has all requisite power and authority to consummate the transaction contemplated by this Agreement and has by proper proceedings duly authorized the execution and delivery of this Agreement and the consummation of the transaction contemplated hereby.
    

  

   
   

  
    
     iii.
    

    
     To Buyer’s knowledge, neither the execution and delivery of this Agreement nor the consummation of the transaction contemplated hereby will violate or be in conflict with (a) any applicable provisions of law, (b) any order of any court or other agency of government having jurisdiction hereof, or (c) any agreement or instrument to which Buyer is a party or by which Buyer is bound.
    

  

   
   

  
    
     16.
    

    
     Damages, Destruction and Eminent Domain.
    

  

   
   

  
    
     a)
    

    
     If, prior to the Closing Date, the Property or any part thereof be destroyed or further damaged by fire, the elements, or any cause, due to events occurring subsequent to the date of this Agreement to the extent that the cost of repair exceeds $10,000.00, this Agreement shall become null and void, at Buyer’s option exercised, if at all, by written notice to Seller within ten (10) days after Buyer has received written notice from Seller of said destruction or damage. Seller, however, shall have the right to adjust or settle any insured loss until (i) all contingencies set forth in Paragraph 6 hereof have been satisfied, or waived; and (ii) any ten-day period provided for above in this Subparagraph 16a for Buyer to elect to terminate this Agreement has expired or Buyer has, by written notice to Seller, waived Buyer’s right to terminate this Agreement. If Buyer elects to proceed and to consummate the purchase despite said damage or destruction, there shall be no reduction in or abatement of the Purchase Price, and Seller shall assign to Buyer the Seller’s right, title, and interest in and to all insurance proceeds (pro-rata in relation to the Property) resulting from said damage or destruction to the extent that the same are payable with respect to damage to the Property, subject to rights of any Tenant of the Property.
    

  

   
   

  
    
     b)
    

    
     If the cost of repair is less than $10,000.00, Seller shall credit Buyer for the cost of the repairs. Buyer shall then be obligated to otherwise perform hereunder.
    

  

   
   

  
  9

  

    
     c)
    

    
     If, prior to the Closing Date, the Property, or any part thereof, is taken by eminent domain, this Agreement shall become null and void at Buyer’s option. If Buyer elects to proceed to consummate the purchase despite said taking, there shall be no reduction in, or abatement of, the Purchase Price, and Seller shall assign to Buyer the Seller’s right, title, and interest in and to any award made, or to be made, in the condemnation proceeding pro-rata in relation to the Property, subject to rights of any Tenant of the Property.
    

  

   
   

  
    
     d)
    

    
     In the event that this Agreement is terminated by Buyer pursuant to this Agreement, the Earnest Money shall be immediately returned to Buyer after execution by Buyer of such documents reasonably requested by Seller to evidence the termination hereof.
    

  

   
   

  
    
     17.
    

    
     1031 Exchange.  Buyer hereby acknowledges that Seller desires and intends to structure this transaction as a tax-deferred exchange pursuant to Section 1031 of the Internal Revenue Code, as amended. Accordingly, Buyer agrees that Buyer shall, at no additional cost, obligation, or liability to Buyer, cooperate with and assist Buyer in perfecting such an exchange, provided that the consummation of the transaction contemplated hereby is not thereby delayed by fault of Buyer.  
    

  

   
   

  
   Seller is selling the Property for purposes of a tax-deferred exchange, and Seller acknowledges that Buyer has made no representations, warranties, or agreements to Seller or Seller’s agents that the transaction contemplated by this Agreement will qualify for such tax treatment, nor has there been any reliance thereon by Seller respecting the legal or tax implications of the transaction contemplated hereby. Seller further represents that it has sought and obtained such third-party advice and counsel as it deems necessary regarding the tax implications of this transaction.
  

   
   

  
   If Seller wishes to novate/assign the ownership rights and interest of this Purchase Agreement to a third party who will act as accommodator to perfect the 1031 exchange by preparing an agreement of exchange of real property, the accommodator will be an independent third party to be chosen by Seller in Seller’s sole discretion, purchasing the Seller’s interest in the Property from Seller and selling such ownership interest in the Property to Buyer under the same terms and conditions as documented in this Agreement. 
  

   
   

  
   If Buyer is purchasing the Property in relation to a tax-deferred exchange, Buyer acknowledges that Seller has made no representations, warranties, or agreements to Buyer or Buyer’s agents that the transaction contemplated by this Agreement will qualify for such tax treatment, nor has there been any reliance thereon by Buyer respecting the legal or tax implications of the transaction contemplated hereby. Buyer further represents that it has sought and obtained such third-party advice and counsel as it deems necessary regarding the tax implications of this transaction.
  

   
   

  
  10

  

    
     18.
    

    
     Cancellation.  If any party elects to cancel this Agreement because of any breach by another party or because escrow fails to close by the agreed date, the party electing to cancel shall deliver to Escrow Agent a notice containing the address of the party in breach and stating that this Agreement shall be cancelled unless the breach is cured within three (3) days following the delivery of the notice to the breaching party. Within three (3) days after receipt of such notice, the Escrow Agent shall send it by United States Mail to the party in breach at the address contained in the Notice and no further notice shall be required. If the breach is not cured within three (3) days following the delivery of the notice to the breaching party, this Agreement shall be cancelled.
    

  

   
   

  
    
     19.
    

    
     Counterparts.  This Agreement may be executed and delivered in any number of counterparts, each of which, when so executed and delivered, shall be deemed to be an original, and all of which shall constitute one and the same instrument.
    

  

   
   

  
    
     20.
    

    
     Expiration.  Buyer is submitting this offer by signing a copy of this Agreement and delivering it to Seller, and Seller has five (5) days from receipt hereof within which to accept this offer. When executed by both parties, this Agreement will be a binding agreement for valid and sufficient consideration which will bind and benefit Buyer, Seller, and their respective successors and assigns.
    

  

   
   

  
    
     21.
    

    
     Choice of Law.  This Agreement shall be governed by, and construed in accordance with the laws of the State of Minnesota.
    

  

   
   

  
    
     22.
    

    
     Notices.  All notices from either of the parties hereto to the other shall be in writing and shall be considered to have been duly given or served if sent by first class certified mail, or by a nationally recognized courier service guaranteeing overnight delivery to the party at his or its address set forth below, or by email to the respective email address set forth below, or to such other address as such party may hereafter designate by written notice to the other party. Refusal, rejection, or return of any notice otherwise properly delivered as set forth herein shall be deemed to constitute delivery of such notice.  Notice given in accordance herewith shall be deemed effectively given upon delivery to the address of the addressee.
    

  

   
   

  
    
     If to Seller:
    

    
      
     

    
      
     

    
     AEI Income & Growth Fund 24 LLC
    

  

  
   1300 Wells Fargo Place
  

  
   30 East Seventh Street
  

  
   St. Paul, MN 55101
  

  
   Attn: Stacy McMahon
  

  
   Email: smcmahon@aeifunds.com
  

   
   

  
    
     If to Buyer:
    

    
      
     

    
      
     

    
     AEI Income & Growth Fund 25 LLC
    

  

  
   1300 Wells Fargo Place
  

  
   30 East Seventh Street
  

  
   St. Paul, MN 55101
  

  
   Attn: Marissa Lassaux
  

  
   Email: mlassaux@aeifunds.com
  

   
   

  
    
     23.
    

    
     Miscellaneous.
    

  

  
  11

  

 
   

  
    
     a)
    

    
     This Agreement may be amended only by written agreement signed by both Seller and Buyer, and all waivers must be in writing and signed by the waiving party. Time is of the essence. This Agreement will not be construed for or against a party whether or not that party has drafted this Agreement. If there is any action or proceeding between the parties relating to this Agreement the prevailing party will be entitled to recover attorney’s fees and costs. This is an integrated agreement containing all agreements of the parties about the Property and the other matters described and it supersedes any other agreements or understandings. Exhibits attached to this Agreement are incorporated into this Agreement.
    

  

   
   

  
    
     b)
    

    
     If this escrow has not closed by the Closing Date through no fault of Seller, Seller may, at its election, extend the Closing Date or exercise any remedy available to it by law, including terminating this Agreement.
    

  

   
   

  
    
     c)
    

    
     Funds to be deposited or paid by Buyer must be good and clear funds in the form of cash, cashier’s checks or wire transfers, subject to the Title Company’s requirements.
    

  

   
   

  
    
     d)
    

    
     Buyer shall have the right to assign this Contract at Closing to any entity or entities affiliated with or related to Buyer without the consent of Seller (provided that Buyer shall notify Seller at least five (5) days prior to Closing to allow the parties to modify the Closing documentation accordingly).  Other than the foregoing, Buyer shall not be entitled to assign any of its right, title, and interest herein without Seller’s prior consent. Any assignee shall expressly assume all of Buyer’s duties, obligations, and liabilities hereunder, and Buyer shall not be released from any of its obligations hereunder.
    

  

   
   

  
    
     e)
    

    
     Whenever the last day for the exercise of any right or the discharge of any obligation under this Contract shall fall upon a Saturday, Sunday, or any public or legal holiday, the party having such right or obligation shall have until 5:00 p.m. (Central Standard Time) on the next succeeding regular business day to exercise such right or discharge such obligation.  Time is of the essence of this Contract.
    

  

   
   

  
    
     f)
    

    
     The invalidity or unenforceability of any provision hereof shall not affect or impair any other provisions hereof.
    

  

   
   

  
    
     g)
    

    
     All of the provisions of this Agreement shall insure to the benefit of and be binding upon the successors and assigns of the Parties hereto.
    

  

   
   

  
    
     h)
    

    
     No failure to strictly enforce any provision hereof shall be deemed to be a waiver of any other provision hereof or of any subsequent breach by the other party of the same or any other provision.
    

  

   
   

  
  12

  

    
     i)
    

    
     This Agreement may be executed in one or more counterparts by the Parties hereto.  All counterparts shall be construed together and shall constitute one agreement.  Each counterpart shall be deemed an original hereof notwithstanding less than all of the Parties may have executed it.  All facsimile and emailed executions shall be treated as originals for all purposes.
    

  

   
   

  
    
     j)
    

    
     All Parties agree to sign any and all further documents reasonably necessary to implement the terms hereof.
    

  

   
   

   
   

  
  13

  

   IN WITNESS WHEREOF, the Seller and Buyer have executed this Agreement to be effective as of the Effective Date.
  

   
   

   
   

  
   SELLER:
  

   
   

  
   AEI INCOME & GROWTH FUND 24 LLC,
  

  
   a Delaware limited liability company
  

   
   

  
   By: AEI Fund Management XXI, Inc.,
  

  
   a Minnesota corporation
  

  
   Its: managing member
  

   
   

   
   

  
   By: __/s/ Marni Nygard_______
  

  
   Name:  Marni Nygard
  

  
   Title:  President
  

  
   Date:  October 26, 2022
  

   
   

   
   

  
   BUYER:
  

   
   

  
   AEI INCOME & GROWTH FUND 25 LLC,
  

  
   a Delaware limited liability company
  

   
   

  
   By: AEI Fund Management XXI, Inc.,
  

  
   a Minnesota corporation
  

  
   Its: managing member
  

   
   

   
   

  
   By: __/s/ Marni Nygard_______
  

  
   Name:  Marni Nygard
  

  
   Title:  President
  

  
   Date:  October 26, 2022
  

   
   

   
   

  
  14

  

   Exhibit A
  

   
   

  
   (Legal Description)
  

   
   

  
   All that certain tract or parcel of land, situate, lying and being located In Land Lot 263 of the 13th Land District of Bibb County, Georgia, designated as Parcel 4 comprising 0,915 acres as shown on a Re­Subdivision Survey for Bass Road Urgent Care, LLC dated March 26, 2012, prepared by James P, Garrett, Georgia Registered Land Surveyor No. 2466, a copy of which Is recorded in Plat Book 93, Page 450, Clerk's Office, Bibb County Superior Court and Is incorporated herein by reference for a more complete and accurate description of the property.
  

   
   

  
   Together With: 
  

  
   Those Rights and Easements appurtenant to the subject property, Including, but not limited to, Cross Access Easements, Parking Rights and the use and enjoyment of Open Areas as enumerated In that certain Declaration of Covenants, Conditions and Restrictions for Providence Commercial Village by Placemaker, LLC, a Georgia limited liability company, dated June 1, 2006, filed for record July 18, 2006, and recorded in Deed Book 7137, Page 106, aforesaid records; as affected by that certain Amended and Restated Master Declaration of Covenants, Conditions and Restrictions for North Macon Towne Centre (aka Providence Towne Centre), ·dated February 15, 2008, flied for record February 20, :1.008, and recorded In Deed Book 7770, Page 1, aforesaid records; as affected by that certain Supplemental Declaration to Amended Master Declaration of Covenants, Conditions and Restrictions for North Macon Towne Centre, dated October 20, 2010, filed for record October 27, 2010, and recorded in Deed Book 8392, Page 185, aforesaid records; and as further affected by that certain Supplemental Declaration to Amended Master Declaration of Covenants, Conditions and Restrictions for North Macon Towne Centre, dated April 22, 2011, filed for record June 26, 2011, and recorded In Deed Book 8516, Page 256, aforesaid records. 
  

   
   

  
   Also conveyed Is a non-exclusive, perpetual and irrevocable easement on, over, across and through North Macon Street designated as Private Right of Way and Access Easement (being approximately 60' in width) as shown on the above referenced plat. 
  

   
   

  
   This conveyance Is subject "to the Amended and Restated Master Declaration of Covenants, Conditions and Restrictions for North Macon Towne Centre made by Placemaker, LLC dated February 15, 2008 and re
  

   
   

   
   

  
  15

  

   Exhibit B
  

   
   

  
   The following Seller’s Materials will be provided by Seller, to the extent such items exist in Seller’s possession:
  

  
    
     a)
    

    
     A copy of Seller’s existing Owner’s Title Policy for the Property, with copies of its underlying documents;
    

  

  
    
     b)
    

    
     A copy of Seller’s existing as-built ALTA survey of the Property;
    

  

  
    
     c)
    

    
     A complete copy of the Lease, and any amendments thereto, including but not limited to guaranties, amendments, assignments of lease and/or letter agreements, commencement agreements, memorandum of leases, and project acceptance letter;
    

  

  
    
     d)
    

    
     A copy of Seller’s existing Phase I Environmental Site Assessment report;
    

  

  
    
     e)
    

    
     A copy of the Tenant’s existing insurance certificate(s) for the Property;
    

  

  
    
     f)
    

    
     A copy of the Certificate of Occupancy from the governing municipality;
    

  

  
    
     g)
    

    
     Copies of the existing final building plans and specifications for the improvements; and
    

  

  
    
     h)
    

    
     A copy of the most recent real estate tax statement for the Property.
    

  

 
  16

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