Document:

CONSOLIDATED
TERM NOTE

 

(Fixed
rate)

 

June
27, 2019

 

	$1,156,741.69	Victor,
    New York

 

For
value received, the undersigned Premier Packaging Corporation, a New York corporation with an address of 6 Framark Drive,
PO Box 352, Victor, New York 14564 (the “Borrower”), promises to pay to the order of Citizens Bank, N.A., a national
banking association with an address of 833 Broadway, Albany, New York 12207 (together with its successors and assigns, the “Bank”),
the principal amount of One Million One Hundred Fifty Six Thousand Seven Hundred Forty One and 69/100 Dollars ($1,156,741.69)
on or before June 27, 2029 (the “Maturity Date”), as set forth below, together with interest as set forth
below from the date hereof on the unpaid principal balance from time to time outstanding until paid in full. The Borrower shall
pay consecutive monthly installments of principal and interest, based on a twenty (20) year amortization, as follows: $7,180.61
commencing on July 27, 2019, and the same amount on the 27th day of each month thereafter; provided, however,
that, notwithstanding the foregoing, the Borrower shall pay the entire then outstanding unpaid principal balance under this Note
on the last such scheduled installment payment date, together with all accrued and unpaid interest and all other amounts outstanding
under the Loan Documents (as hereinafter defined). The aggregate principal balance outstanding shall bear interest thereon at
a per annum rate equal to 4.22%. 

 

This
Note is the Term Note referred to in the Loan and Security Agreement of even date herewith by and between the Borrower and the
Bank (as amended, restated or otherwise supplemented from time to time, the “Loan Agreement;” and capitalized terms
used herein and not otherwise defined shall have the meaning giving to such terms in the Loan Agreement) and the obligations and
liabilities hereunder of Borrower and each endorser hereof constitute Obligations that are secured by the Collateral as well as
by any additional collateral hereafter granted to the Bank by the Borrower or any endorser or guarantor hereof or by any other
party to secure the obligations arising hereunder.

 

Principal
and interest shall be payable at the Bank’s main office or at such other place as the Bank may designate in writing in immediately
available funds in lawful money of the United States of America without set-off, deduction or counterclaim. Interest shall be
calculated on the basis of actual number of days elapsed and a 360-day year.

 

If
Borrower prepays all or any part of the principal balance of this Note, then Borrower shall pay to the Bank a prepayment premium
(“Premium”) equal to the Prepaid Principal multiplied by the Premium Percentage. The term (“Premium
Percentage”) shall mean five percent (5%) beginning on the date of this Note and ending on (and including) the first
anniversary date of this Note; four percent (4%) beginning on the day after the first anniversary date of this Note and ending
on (and including) the second anniversary date of this Note; three percent (3%) beginning on the day after the second anniversary
date of this Note and ending on (and including) the third anniversary date of this Note; two percent (2%) beginning on the day
after the third anniversary date of this Note and ending on (and including) the fourth anniversary date of this Note; one percent
(1%) beginning on the day after the fourth anniversary date of this Note and ending on (and including) the fifth anniversary date
of this Note; and zero percent (0%) beginning on the day after the fifth anniversary date of this Note and thereafter. The term
“Prepaid Principal” shall mean the principal being prepaid on the Prepayment Date. The term “Prepayment
Date” shall mean the date the prepayment is tendered. Notwithstanding anything herein to the contrary, a Premium shall
not be due on any partial prepayment until the total of all partial prepayments paid during the calendar year (in which the partial
prepayment is being tendered) has exceeded 20% of the original principal amount of this Note. All partial prepayments shall be
applied in such order and manner as Bank may from time to time determine in its sole discretion. A Premium shall be due whether
a prepayment is made voluntarily or, where allowed by applicable law, made involuntarily as a result of the acceleration of maturity
upon a default or otherwise. Failure by Bank to collect or demand a Premium at the time of prepayment shall not be deemed a waiver
of Bank’s right to such Premium or to any future premium. Except for the foregoing, Borrower may pay all or a portion of
the amount owed earlier than it is due. Early payments will not, unless agreed to by Bank in writing, relieve Borrower of Borrower’s
obligation to continue to make payments under the payment schedule. Rather, early payments will reduce the Principal Balance due
and may result in Borrower’s making fewer payments. Borrower agrees not to send Bank payments marked “paid in full”,
“without recourse”, or similar language. If Borrower sends such a payment, Bank may accept it without losing any of
the Bank’s rights under this Note, and Borrower will remain obligated to pay any further amount owed to Bank.

 

    	 

    	 

    

 

All
amounts received by the Bank in respect of principal, interest or any other amount due under this Note or any of the other Loan
Documents shall be applied by the Bank in accordance with the Loan Agreement. The Borrower hereby authorizes the Bank to charge
any deposit account which the Borrower may maintain with the Bank for any payment required hereunder without prior notice to the
Borrower.

 

If
pursuant to the terms of this Note, the Borrower is at any time obligated to pay interest on the principal balance at a rate in
excess of the maximum interest rate permitted by applicable law for the Loan evidenced by this Note, the applicable interest rate
shall be immediately reduced to such maximum rate and all previous payments in excess of the maximum rate shall be deemed to have
been payments in reduction of principal and not on account of the interest due hereunder.

 

The
Borrower and every endorser or guarantor of this Note, regardless of the time, order or place of signing, waives presentment,
demand, protest, notice of intent to accelerate, notice of acceleration and all other notices of every kind in connection with
the delivery, acceptance, performance or enforcement of this Note and assents to any extension or postponement of the time of
payment or any other indulgence, to any substitution, exchange or release of collateral, and to the addition or release of any
other party or person primarily or secondarily liable and waives all recourse to suretyship and guarantor defenses generally,
including any defense based on impairment of collateral.

 

Upon
the occurrence and during the continuance of an Event of Default, interest shall accrue at a rate per annum equal to the aggregate
of 5.0% plus the rate provided for herein. If any payment due under this Note is unpaid for 10 days or more, the Borrower shall
pay, in addition to any other sums due under this Note (and without limiting the Bank’s other remedies on account thereof),
a late charge equal to the greater of $35.00 or 5.0% of such unpaid amount (which amount shall be subject to and limited so as
not to be in violation of the provisions of Section 254-b of New York Property Law, if applicable). Such late charge shall only
apply to monthly installments due and payable hereunder prior to the maturity date or any acceleration by Payee of the indebtedness
evidenced hereby. Notwithstanding anything herein to the contrary, no late charge will be due on the final payment of the unpaid
principal balance owed on the Maturity Date. In addition the Borrower shall pay the Bank’s customary fee if any payment
made on account of this Note is dishonored.

 

This
Note shall be binding upon the Borrower and each endorser and guarantor hereof and upon their respective heirs, successors, assigns
and legal representatives, and shall inure to the benefit of the Bank and its successors, endorsees and assigns.

 

The
Borrower and each endorser and guarantor hereof each authorizes the Bank to complete this Note if delivered incomplete in any
respect. A photographic or other reproduction of this Note may be made by the Bank, and any such reproduction shall be admissible
in evidence with the same effect as the original itself in any judicial or administrative proceeding, whether or not the original
is in existence.

 

    	2

    	 

    

 

The
Borrower will from time to time execute and deliver to the Bank such documents, and take or cause to be taken, all such other
further action, as the Bank may request in order to effect and confirm or vest more securely in the Bank all rights contemplated
by this Note or any other loan documents related thereto (including, without limitation, to correct clerical errors) or to vest
more fully in or assure to the Bank the security interest in any collateral securing this Note or to comply with applicable statute
or law.

 

This
Note shall be governed by federal law applicable to the Bank and, to the extent not preempted by federal law, the laws of the
State of New York.

 

This
Note is being given solely for the purpose of amending and restating the terms of the Existing Notes (as defined below). In the
event of any conflict between the terms of this Note and the Existing Notes, the terms of this Note shall control. This Note does
not create a new or further indebtedness or obligation other than the principal indebtedness or obligation secured by or which
under any contingency may be secured by the Mortgage. As used herein, the term Existing Notes shall mean collectively (i) that
certain promissory note made by Primo DiFelice to The Canandaigua National Bank and Trust Company in the amount of $300,000.00,
(ii) that certain promissory note made by Primo DiFelice to The Canandaigua National Bank and Trust Company in the amount of $250,000.00,
(iii) that certain consolidated promissory note made by Primo DiFelice to The Canandaigua National Bank and Trust Company in the
amount of $550,000.00 as assigned to M & T Real Estate, Inc., (iv) that certain promissory note made by Bzdick Properties,
LLC to M & T Real Estate, Inc. in the amount of $293,046.95, (v) that certain consolidated promissory note made by Bzdick
Properties, LLC to M & T Real Estate, Inc. in the amount of $758,000.00, (vi) that certain amended promissory note made by
Bzdick Properties, LLC to M & T Real Estate, Inc. in the amount of $610,574.03 as assigned to RBS Citizens, N.A., (vii) that
certain promissory note made by Premier Packaging Corporation to RBS Citizens, N.A. in the amount of $688,034.70, (viii) that
certain consolidated promissory note made by Premier Packaging Corporation to RBS Citizens, N.A. in the amount of $1,200,000.00,
and (ii) that certain Gap Note dated the date hereof made by Premier Packaging Corporation to Citizens Bank in the amount of 4,864.74.

 

[Signature
Page Follows]

 

    	3

    	 

    

 

	 	Borrower:
	 	 	 
	 	Premier Packaging Corporation
	 	 	 
	 	By:	 
	 	 	Frank
    D. Heuszel, CEO
	 	 	 
	 	6 Framark Drive,
	 	PO Box 352
	 	Victor, New York 14564

 

    	4COMMERCIAL
MORTGAGE, SECURITY AGREEMENT AND ASSIGNMENT OF LEASES AND RENTS WITH CONSOLIDATION, MODIFICATION AND EXTENSION AGREEMENT

 

between

 

PREMIER
PACKAGING CORPORATION

 

and

 

CITIZENS
BANK, N.A.

 

	 	Dated:	June
    27, 2019
	 	 	 
	 	Location:	6
Framark Drive

Town of Victor

County of Ontario

State of New York

	 	 	 
	 	SBL:	28.05-1-50.218

 

RECORD
AND RETURN TO:

 

Phillips
Lytle LLP

1400
First Federal Plaza

Rochester,
New York 14614

Attention:
Michael Overmyer, Esq.

 

    	 

    	 

    

 

COMMERCIAL
MORTGAGE, SECURITY AGREEMENT AND ASSIGNMENT OF LEASES AND RENTS WITH CONSOLIDATION, MODIFICATION AND EXTENSION AGREEMENT

 

This
COMMERCIAL MORTGAGE, SECURITY AGREEMENT AND ASSIGNMENT OF LEASES AND RENTS WITH CONSOLIDATION, MODIFICATION AND EXTENSION AGREEMENT
(as amended, restated or otherwise supplemented from time to time, this “Mortgage”) is entered into at Rochester,
New York, as of June 27, 2019, between Premier Packaging Corporation, a New York corporation with an address of 6 Framark Drive,
Victor, New York 14564 (the “Mortgagor”) and Citizens Bank, N.A., a national banking association, with an address
of 833 Broadway, Albany, New York 12207 (the “Bank”). Bank is entering into this Mortgage for its own account and
as agent on behalf of each Bank Affiliate (this, and all other capitalized terms used in this Mortgage and not otherwise defined,
shall have the meaning given to such terms in that certain Loan Agreement of even date herewith by and between the Mortgagor and
the Bank (as amended, restated or otherwise supplemented from time to time, the “Loan Agreement”) to the extent an
Obligation is owed to such Bank Affiliate at any time.

 

The
real property which is the subject matter of this Mortgage has the following address: 6 Framark Drive, Victor, New York 14564
(the “Address”).

 

WHEREAS,
the Bank is the owner and holder of one or more mortgages covering all or a portion of the Property, which mortgages are more
particularly described on Exhibit B attached hereto and made a part hereof, and upon which mortgage there now remains an
unpaid principal sum of One Million One Hundred Fifty Thousand Eight Hundred Seventy Six and 95/100 Dollars ($1,151,876.95) (the
“Prior Mortgage”), and

 

WHEREAS,
the Mortgagor has applied to the Bank for an additional loan in the principal amount of Four Thousand Eight Hundred Sixty
Four and 74/100 Dollars ($4,864.74) (“Additional Loan”), and

 

WHEREAS,
the Additional Loan will be evidenced by a certain Promissory Note of the Mortgagor to the Bank in the principal amount of the
Additional Loan dated the date hereof and will be secured by a Mortgage made by the Mortgagor to the Bank covering the Property
dated the date hereof (the “Additional Mortgage”) which Additional Mortgage is intended to be recorded in the
Office of the Clerk of Monroe County, New York prior to the recording of this instrument, and

 

WHEREAS,
the Mortgagor and the Bank desire to consolidate the Prior Mortgage and the Additional Mortgage so as to form a single first
mortgage lien on the Property securing the aggregate principal sum of One Million One Hundred Fifty Six Thousand Seven Hundred
Forty One and 69/100 Dollars ($1,156,741.69) and interest (the “Loan”) and to modify and amend the terms thereof,
and

 

WHEREAS,
the Loan has been modified pursuant to a certain Consolidated Mortgage Note dated as of the date hereof evidencing the principal
sum of One Million One Hundred Fifty Six Thousand Seven Hundred Forty One and 69/100 Dollars ($1,156,741.69) (the “Note”),
and

 

WHEREAS,
the outstanding principal balance on the Note as of the date hereof is One Million One Hundred Fifty Six Thousand Seven Hundred
Forty One and 69/100 Dollars ($1,156,741.69), and

 

WHEREAS,
the Mortgagor and Bank have agreed to consolidate and modify the Prior Mortgage and the Additional Mortgage as herein set
forth, and

 

WHEREAS,
this COMMERCIAL MORTGAGE, SECURITY AGREEMENT AND ASSIGNMENT OF LEASES AND RENTS WITH CONSOLIDATION, MODIFICATION AND EXTENSION
AGREEMENT (the “Mortgage”) does not create or secure any new or additional indebtedness but secures the same
indebtedness secured by said Prior Mortgage and Additional Mortgage as hereinabove mentioned.

 

    	2

    	 

    

 

NOW
THEREFORE, in consideration of the mutual covenants and agreements of the Mortgagor and the Bank, the sum of One Dollar ($1.00)
and other good and valuable consideration each to the other in hand paid, the receipt and sufficiency of which are hereby acknowledged,
and to secure the payment of an indebtedness in the principal sum of One Million One Hundred Fifty Six Thousand Seven Hundred
Forty One and 69/100 Dollars ($1,156,741.69), lawful money of the United States of America, to be paid with interest (said indebtedness,
interest and all other sums which may or shall become due hereunder, collectively referred to as the “Debt”),
according to the Note, and any and all modifications, amendments, extensions, renewals, restatements, consolidations, replacements
and increases thereof, the Mortgagor and the Bank agree as follows:

 

MODIFICATION
PROVISIONS

 

The
terms, conditions, provisions, covenants, agreements, warranties and privileges including and not by way of limitation, prepayment
privileges, if any, contained in the Prior Mortgage and the Additional Mortgage are hereby modified, extended and amended in their
entirety and restated as hereinafter set forth, and as so modified, extended, amended and restated are hereby ratified, confirmed
and approved. The security of the notes, bonds and other evidence of indebtedness secured by the Prior Mortgage and the Additional
Mortgage shall not be impaired by anything herein contained, but whenever the terms, provisions, covenants and conditions of this
instrument conflict in any way with the terms, provisions, covenants and conditions of the notes, bonds or other evidence of indebtedness
and/or the Prior Mortgage and the Additional Mortgage, or any of them, the terms, provisions, covenants and conditions of this
instrument shall control and prevail. This instrument secures sums due by the Mortgagor to the Bank in the principal sum of One
Million One Hundred Fifty Six Thousand Seven Hundred Forty One and 69/100 Dollars ($1,156,741.69) plus accrued interest therein,
in lawful money of the United States of America, to be paid pursuant to the terms of the Note, and any further modifications,
extensions, renewals, restatements, consolidations and replacements thereof.

 

CONSOLIDATION
PROVISION

 

The
Prior Mortgage and Additional Mortgage are hereby consolidated and combined and made equal and coordinate liens so they will together
form a single first mortgage lien on the Property for the full amount to the Loan and interest, and said mortgages and the bonds,
notes or other obligations secured thereby shall be treated and are hereafter referred to as if they but one mortgage and one
note, given to secure and to evidence the payment of the Loan.

 

MORTGAGOR’S
ESTOPPEL

 

The
Mortgagor certifies to the Bank that there is now due and owing on the Note and secured by this Mortgage, without offset or defense
of any kind, the principal sum of One Million One Hundred Fifty Six Thousand Seven Hundred Forty One and 69/100 Dollars ($1,156,741.69)
lawful money of the United States of America.

 

1.
Mortgage, Obligations and Future Advances

 

1.1
Mortgage. For valuable consideration paid
and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Mortgagor hereby
irrevocably and unconditionally mortgages, grants, bargains, transfers, sells, conveys, sets over and assigns to the Bank and
its successors and assigns forever, all of Mortgagor’s right, title and interest in and to the “Property” described
below, to secure the prompt payment and performance of the Obligations, including without limitation, all amounts due and owing
and all obligations respecting the Note and all substitutions, modifications, extensions or amendments to any of the Loan Documents.

 

    	3

    	 

    

 

A
principal indebtedness of up to $1,156,741.69 is evidenced by the Loan Documents and secured by this Mortgage as of the
date of this Mortgage, but this Mortgage shall nevertheless secure payment and performance of all Obligations.

 

1.2
Security Interest in Property. As continuing
security for the Obligations the Mortgagor hereby pledges, assigns and grants to the Bank, and its successors and assigns, a security
interest in any of the Property (as hereinafter defined) constituting fixtures. This Mortgage is and shall be deemed to be a security
agreement and financing statement pursuant to the terms of the Uniform Commercial Code of New York (the “Uniform Commercial
Code”) as to any and all personal property constituting fixtures and as to all such property the Bank shall have the rights
and remedies of a secured party under the Uniform Commercial Code in addition to its rights hereunder. This Mortgage constitutes
a financing statement filed as a fixture filing under Section 9-502(c) of the Uniform Commercial Code covering any Property which
now is or later may become a fixture.

 

1.3
Collateral Assignment of Leases and Rents.
The Mortgagor hereby irrevocably and unconditionally assigns to the Bank and its successors and assigns, as collateral security
for the Obligations all of the Mortgagor’s rights and benefits under any and all Leases (as hereinafter defined) and any
and all rents and other amounts now or hereafter owing with respect to the Leases or the use or occupancy of the Property. This
collateral assignment shall be absolute and effective immediately, but the Mortgagor shall have a license, revocable by the Bank,
to continue to collect rents owing under the Leases until an Event of Default (as hereinafter defined) occurs. In addition the
Bank shall have all of the rights against lessees of the Property set forth in Section 291-f of the Real Property Law of New York,

 

1.4
Conditions to Grant. The Bank shall have
and hold the above granted Property unto and to the use and benefit of the Bank, and its successors and assigns, forever; provided,
however, the conveyances, grants and assignments contained in this Mortgage are upon the express condition that, if Mortgagor
shall irrevocably and indefeasibly pay and perform the Obligations in full, including, without limitation, all principal, interest
and premium thereon and other charges, if applicable, in accordance with the terms and conditions in the Loan Documents and this
Mortgage, shall pay and perform all other Obligations as set forth in this Mortgage and shall abide by and comply with each and
every covenant and condition set forth herein and in the Loan Documents, the conveyances, grants and assignments contained in
this Mortgage shall be appropriately released and discharged.

 

1.5
Property. The term “Property,”
as used in this Mortgage, shall mean that certain parcel of land and the fixtures, structures and improvements and all personal
property constituting fixtures, as that term is defined in the Uniform Commercial Code, now or hereafter thereon located at the
Address, as more particularly described in Exhibit A attached hereto, together with: (i) all rights now or hereafter existing,
belonging, pertaining or appurtenant thereto; (ii) all judgments, awards of damages and settlements hereafter made as a result
or in lieu of any Taking, as hereinafter defined; (iii) all of the rights and benefits of the Mortgagor under any present or future
leases and agreements relating to the Property, including, without limitation, rents, issues and profits, or the use or occupancy
thereof together with any extensions and renewals thereof, specifically excluding all duties or obligations of the Mortgagor of
any kind arising thereunder (the “Leases”); and (iv) all tenements, hereditaments, appurtenances, estates and rights
of Mortgagor and all contracts, permits and licenses respecting the use, operation or maintenance of the Property.

 

    	4

    	 

    

 

1.6
Cross-Collateral and Future Advances.
It is the express intention of the Mortgagor that this Mortgage secure payment and performance of all of the Obligations, whether
now existing or hereinafter incurred by reason of future advances by the Bank or otherwise, and regardless of whether such Obligations
are or were contemplated by the parties at the time of the granting of this Mortgage. Notice of the continuing grant of this Mortgage
shall not be required to be stated on the face of any document evidencing any of the Obligations, nor shall such documents be
required to otherwise specify that they are secured hereby.

 

1.7
Maximum Principal Amount Secured. Notwithstanding
anything to the contrary contained in this Mortgage, the maximum amount of principal indebtedness secured by this Mortgage or
which under any contingency may be secured by this Mortgage is the amount of $1,156,741.69.

 

1.8
Trust Fund. Pursuant to Section 13 of
the New York Lien Law, Mortgagor shall receive the advances secured hereby and shall hold the right to receive the advances as
a trust fund to be applied first for the purpose of paying the cost of any improvement on the Property and shall apply the advances
first to the payment of the cost of any such improvement on the Property before using any part of the total of the same for any
other purpose.

 

2.
Representations, Warranties, Covenants

 

2.1
Representations and Warranties. The Mortgagor
represents and warrants that:

 

	 	(a)	This
    Mortgage has been duly executed and delivered by the Mortgagor and is the legal, valid and binding obligation of the Mortgagor
    enforceable in accordance with its terms, except as limited by bankruptcy, insolvency, reorganization, moratorium or other
    laws affecting the enforcement of creditors’ rights generally;
	 	 	 
	 	(b)	The
    Mortgagor is the sole legal owner of the Property, holding good and marketable fee simple title to the Property, subject to
    no liens, encumbrances, leases, security interests or rights of others, other than those in favor of the Bank (the “Permitted
    Encumbrances”);
	 	 	 
	 	(c)	The
    Mortgagor has, prior to the date of this Mortgage, delivered to the Bank a complete and accurate copy of each Lease that is
    in effect as of the date of this Mortgage and the Mortgagor is the sole legal owner of the entire lessor’s interest
    in those Leases, if any, with full power and authority to encumber the Property in the manner set forth herein, and the Mortgagor
    has not executed any other assignment of those Leases or any of the rights or rents arising thereunder;
	 	 	 
	 	(d)	As
    of the date hereof, there are no Hazardous Materials in, on or under the Property, except as expressly disclosed in writing
    to and acknowledged by the Bank; and
	 	 	 
	 	(e)	Each
    Obligation is a commercial obligation and does not represent a loan used for personal, family or household purposes and is
    not a consumer transaction.

 

2.2
Recording; Further Assurances. The Mortgagor
covenants that it shall, at its sole cost and expense and upon the request of the Bank, cause this Mortgage, and each amendment,
modification or supplement hereto, to be recorded and filed in such manner and in such places, and shall at all times comply with
all such statutes and regulations as may be required by law in order to establish, preserve and protect the interest of the Bank
in the Property and the rights of the Bank under this Mortgage. Mortgagor will from time to time execute and deliver to the Bank
such documents, and take or cause to be taken, all such other or further action, as the Bank may request in order to effect and
confirm or vest more securely in the Bank all rights contemplated by this Mortgage (including, without limitation, to correct
clerical errors) or to vest more fully in, or assure to the Bank the security interest in, the Property or to comply with applicable
statute or law. To the extent permitted by applicable law, Mortgagor authorizes the Bank to file financing statements, continuation
statements or amendments without the signature of the Mortgagor thereon, and any such financing statements, continuation statements
or amendments may be filed at any time in any jurisdiction. The Bank may at any time and from time to time file financing statements,
continuation statements and amendments thereto that describe the Property as defined in this Mortgage and which contain any other
information required by Article 9 of the Uniform Commercial Code for the sufficiency or filing office acceptance of any financing
statement, continuation statement or amendment, including whether Mortgagor is an organization, the type of organization and any
organization identification number issued to Mortgagor; Mortgagor also authorizes the Bank to file financing statements describing
any agricultural liens or other statutory liens held by the Bank. Mortgagor agrees to furnish any such information to the Bank
promptly upon request. Mortgagor hereby constitutes the Bank its attorney-in-fact to execute and file all filings required or
so requested for the foregoing purposes, all acts of such attorney being hereby ratified and confirmed; and such power, being
coupled with an interest, shall be irrevocable until this Mortgage terminates in accordance with its terms, all Obligations are
paid in full and the Property is released.

 

    	5

    	 

    

 

2.3
Restrictions on the Mortgagor. The Mortgagor
covenants that it will not, nor will it permit any other person to, directly or indirectly, without the prior written approval
of the Bank in each instance:

 

	 	(a)	Sell,
    convey, assign, transfer, mortgage, pledge, hypothecate, lease or dispose of all or any part of any legal or beneficial interest
    in the Mortgagor or the Property or any part thereof or permit any of the foregoing, except as expressly permitted by the
    terms of this Mortgage (and, for the avoidance of doubt, the Bank hereby consents to each of the Leases described in Section
    2.1(c) above);
	 	 	 
	 	(b)	Permit
    the use, generation, treatment, storage, release or disposition of any Hazardous Materials in, on or under the Property other
    than strictly in accordance with all applicable Environmental Laws; or
	 	 	 
	 	(c)	Permit
    to be created or suffer to exist any mortgage, lien, security interest, attachment or other encumbrance or charge on the Property
    or any part thereof or interest therein (except for the Permitted Encumbrances), including, without limitation, (i) any lien
    arising under any Environmental Law, and (ii) any mechanics’ or materialmen’s lien. The Mortgagor further agrees
    to give the Bank prompt written notice of the imposition, or notice, of any lien referred to in this Section and to take any
    action necessary to secure the prompt discharge or release of the same. The Mortgagor agrees to defend its title to the Property
    and the Bank’s interest therein against the claims of all persons and, unless the Bank requests otherwise, to appear
    in and diligently contest, at the Mortgagor’s sole cost and expense, any action or proceeding that purports to affect
    the Mortgagor’s title to the Property or the priority or validity of this Mortgage or the Bank’s interest hereunder.

 

2.4
Operation of Property. The Mortgagor covenants
and agrees as follows:

 

	 	(a)	The
    Mortgagor will not permit the Property to be used for any unlawful or improper purpose, will at all times comply with all
    Federal, state and local laws, ordinances and regulations, and the provisions of any Lease, easement or other agreement affecting
    all or any part of the Property, and will obtain and maintain all governmental or other approvals relating to the Mortgagor,
    the Property or the use thereof, including without limitation, any applicable zoning or building codes or regulations and
    any laws or regulations relating to the handling, storage, release or cleanup of Hazardous Materials, and will give prompt
    written notice to the Bank of (i) any violation of any such law, ordinance or regulation by the Mortgagor or relating to the
    Property, (ii) receipt of notice from any Federal, state or local authority alleging any such violation and (iii) the presence
    or release on the Property of any Hazardous Materials;

 

    	6

    	 

    

 

	 	(b)	The
    Mortgagor will at all times keep the Property insured for such losses or damage, in such amounts and by such companies as
    may be required by law and which the Bank may require, provided that, in any case, the Mortgagor shall maintain: (i) physical
    hazard insurance on an “all risks” basis in an amount not less than 100% of the full replacement cost of the Property;
    (ii) flood insurance if and as required by applicable Federal law and as otherwise required by the Bank; (iii) comprehensive
    commercial general liability insurance; (iv) rent loss and business interruption insurance; and (v) such other insurance as
    the Bank may require from time to time, including builder’s risk insurance in the case of construction loans. All policies
    regarding such insurance shall be issued by companies licensed to do business in the state where the policy is issued and
    also in the state where the Property is located, be otherwise acceptable to the Bank, provide deductible amounts acceptable
    to the Bank, name the Bank as mortgagee, loss payee and additional insured, and provide that no cancellation or material modification
    of such policies shall occur without at least Ten (10) days prior written notice to the Bank. Such policies shall include
    (i) a mortgage endorsement determined by the Bank in good faith to be equivalent to the “standard” mortgage endorsement
    so that the insurance, as to the interest of the Bank, shall not be invalidated by any act or neglect of the Mortgagor or
    the owner of the Property, any foreclosure or other proceedings or notice of sale relating to the Property, any change in
    the title to or ownership of the Property, or the occupation or use of the Property for purposes more hazardous than are permitted
    at the date of inception of such insurance policies; (ii) a replacement cost endorsement; (iii) an agreed amount endorsement;
    (iv) a contingent liability from operation endorsement; and (v) such other endorsements as the Bank may request. The Mortgagor
    will furnish to the Bank upon request such original policies, certificates of insurance or other evidence of the foregoing
    as are acceptable to the Bank. The terms of all insurance policies shall be such that no coinsurance provisions apply, or
    if a policy does contain a coinsurance provision, the Mortgagor shall insure the Property in an amount sufficient to prevent
    the application of the coinsurance provisions. In addition, Mortgagor shall comply with all provisions of Section 291-g of
    the Real Property Law of New York, to the extent applicable;
	 	 	 
	 	(c)	Mortgagor
    will not pursuant to Section 291-f of the Real Property Law of New York enter into or modify any Lease after the date of this
    Mortgage without the prior written approval of the Bank and will not modify any Lease in any material respect without the
    prior written consent of the Bank, and Mortgagor will not execute any assignment of any of the Leases except in favor of the
    Bank, or accept any rentals under any Lease for more than one month in advance and will at all times perform and fulfill every
    term and condition of the Leases;
	 	 	 
	 	(d)	Mortgagor
    will at all times (i) maintain complete and accurate records and books regarding the Property in accordance with generally
    accepted accounting principles and (ii) permit the Bank and the Bank’s agents, employees and representatives, at such
    reasonable times as the Bank may request, to enter and inspect the Property and such books and records; and
	 	 	 
	 	(e)	Mortgagor
    will at all times keep the Property in good and first-rate repair and condition (damage from casualty not excepted) and will
    not commit or permit any strip, waste, impairment, deterioration or alteration of the Property or any part thereof.

 

    	7

    	 

    

 

2.5
Payments. The Mortgagor covenants to pay
when due: all Federal, state, municipal, real property and other taxes, betterment and improvement assessments and other governmental
levies, water rates, sewer charges, insurance premiums and other charges on or in any way related to the Property, this Mortgage
or any Obligation secured hereby that could, if unpaid, result in a lien on the Property or on any interest therein. If and when
requested by the Bank, the Mortgagor shall deposit from time to time with the Bank sums determined by the Bank to be sufficient
to pay when due the amounts referred to in this Section. The Mortgagor shall have the right to contest any notice, lien, encumbrance,
claim, tax, charge, betterment assessment or premium filed or asserted against or relating to the Property; provided that it contests
the same diligently and in good faith and by proper proceedings and, at the Bank’s request, provides the Bank with adequate
cash security, in the Bank’s reasonable judgment, against the enforcement thereof. The Mortgagor shall furnish to the Bank
the receipted real estate tax bills or other evidence of payment of real estate taxes for the Property within thirty (30) days
prior to the date from which interest or penalty would accrue for nonpayment thereof. The Mortgagor shall also furnish to the
Bank evidence of all other payments referred to above within fifteen (15) days after written request therefor by the Bank. If
Mortgagor shall fail to pay such sums, the Bank may, but shall not be obligated to, advance such sums. Any sums so advanced by
the Bank shall be added to the Obligations, repaid by the Mortgagor to the Bank on demand and shall bear interest until repaid
at the rate set forth in the Note that applies during the continuance of an Event of Default.

 

2.6
Notices; Notice of Default. The Mortgagor
will deliver to the Bank, promptly upon receipt of the same, copies of all notices or other documents it receives that affect
the Property or its use, or claim that the Mortgagor is in default in the performance or observance of any of the terms hereof
or that the Mortgagor or any tenant is in default of any terms of the Leases. The Mortgagor further agrees to deliver to the Bank
written notice promptly upon the occurrence of any Event of Default or event that with the giving of notice or lapse of time,
or both, would constitute an Event of Default.

 

2.7
Takings. In case of any condemnation or
expropriation for public use of, or any damage by reason of the action of any public or governmental entity or authority to, all
or any part of the Property (a “Taking”), or the commencement of any proceedings or negotiations that might result
in a Taking, the Mortgagor shall immediately give written notice to the Bank, describing the nature and extent thereof. The Bank
may, at its option but at the Mortgagor’s expense, appear in any proceeding for a Taking or any negotiations relating to
a Taking and the Mortgagor shall immediately give to the Bank copies of all notices, pleadings, determinations and other papers
relating thereto. The Mortgagor shall in good faith and with due diligence and by proper proceedings file and prosecute its claims
for any award or payment on account of any Taking. The Mortgagor shall not settle any such claim without the Bank’s prior
written consent. The Mortgagor shall hold any amounts received with respect to such awards or claims, by settlement, judicial
decree or otherwise, in trust for the Bank and immediately pay the same to the Bank. The Mortgagor authorizes any award or settlement
due in connection with a Taking to be paid directly to the Bank in amounts not exceeding the Obligations. The Bank may apply such
amounts to the Obligations in such order as the Bank may determine.

 

2.8
Insurance Proceeds. The proceeds of any
insurance resulting from any loss with respect to the Property shall be paid to the Bank and, at the option of the Bank, be applied
to the Obligations in such order as the Bank may determine; provided, however, that if the Bank shall require repair of the Property,
the Bank may release all or any portion of such proceeds to the Mortgagor for such purpose. Any insurance proceeds paid to the
Mortgagor shall be held in trust for the Bank and promptly paid to it.

 

3.
Certain Rights of the BANK

 

3.1
Legal Proceedings. The Bank shall have
the right, but not the duty, to intervene or otherwise participate, at the Mortgagor’s expense, in any legal or equitable
proceeding that, in the Bank’s reasonable judgment, might affect the Property or any of the rights created or secured by
this Mortgage. The Bank shall have such right whether or not there shall have occurred an Event of Default hereunder.

 

3.2
Appraisals/Assessments. The Bank shall
have the right, at the Mortgagor’s sole cost and expense, to obtain appraisals, environmental site assessments or other
inspections of the portions of the Property that are real estate at such times as the Bank deems necessary or as may be required
by applicable law, or its prevailing credit or underwriting policies.

 

    	8

    	 

    

 

3.3
Financial Statements. The Bank shall have
the right, at the Mortgagor’s sole cost and expense, to require delivery of financial statements in form and substance acceptable
to the Bank from the Mortgagor or any guarantor of any of the Obligations and the Mortgagor hereby agrees to deliver such financial
statements and/or cause any such guarantor to so deliver any such financial statement when required by the Bank.

 

3.4
Leases and Rent Roll. The Mortgagor shall
deliver to the Bank (i) during each calendar year and at such other times as the Bank shall request a rent roll for the Property,
in form acceptable to the Bank, listing all tenants and occupants and describing all of the Leases; and (ii) at such times as
the Bank shall request executed copies of all the Leases.

 

4.
Defaults and Remedies

 

4.1
Events of Default. Each Event of Default
described in the Loan Agreement shall constitute an Event of Default under this Mortgage.

 

4.2
Remedies. On the occurrence of any Event
of Default or after DEMAND with respect to Obligations payable on DEMAND, the Bank shall have all of the rights and remedies set
forth in the Loan Agreement, and may, at any time thereafter, at its option and, to the extent permitted by applicable law, without
notice, exercise any or all of the following remedies:

 

	 	(a)	Enter,
    take possession of, manage and operate the Property (including all personal property and all records and documents pertaining
    thereto) and any part thereof and exclude the Mortgagor therefrom and take all actions it deems necessary or proper to preserve
    the Property and operate the Property as a mortgagee in possession with all the powers as could be exercised by a receiver
    or as otherwise provided herein or by applicable law; provided, however, the entry by the Bank upon the Property for any reason
    shall not cause the Bank to be a mortgagee in possession, except upon the express written declaration of the Bank;
	 	 	 
	 	(b)	With
    or without taking possession of the Property, receive and collect all rents, income, issues and profits (“Rents”)
    from the Property (whether past due or thereafter accruing), including as may arise under the Leases, and the Mortgagor appoints
    the Bank as its true and lawful attorney with the power for the Bank in its own name and capacity to demand and collect Rents
    and take any action that the Mortgagor is authorized to take under the Leases. The Bank shall (after payment of all costs
    and expenses incurred) apply any Rents received by it to the Obligations in such order as the Bank determines, or in accordance
    with any applicable statute, and the Mortgagor agrees that exercise of such rights and disposition of such funds shall not
    be deemed to cure any default or constitute a waiver of any foreclosure once commenced nor preclude the later commencement
    of foreclosure for breach thereof. The Bank shall be liable to account only for such Rents actually received by the Bank.
    Lessees under the Leases are hereby authorized and directed, following notice from the Bank, to pay all amounts due the Mortgagor
    under the Leases to the Bank, whereupon such lessees shall be relieved of any and all duty and obligation to the Mortgagor
    with respect to such payments so made;

 

    	9

    	 

    

 

	 	(c)	Sell
    the Property or any part thereof or interest therein pursuant to exercise of its power of sale pursuant to Article 14 of the
    New York Real Property Actions and Proceedings Law (to the extent applicable) or otherwise at public auction on terms and
    conditions as the Bank may determine, or otherwise foreclose this Mortgage in any manner permitted by law, and upon such sale
    the Mortgagor shall execute and deliver such instruments as the Bank may request in order to convey and transfer all of the
    Mortgagor’s interest in the Property, and the same shall operate to divest all rights, title and interest of the Mortgagor
    in and to the Property. In the event this Mortgage shall include more than one parcel of property or subdivision (each hereinafter
    called a “portion”), the Bank shall, in its sole and exclusive discretion, be empowered to (a) foreclose upon
    any such portion without impairing its right to foreclose subsequently upon any other portion or the entirety of the Property
    from time to time thereafter, and (b) determine in what order the portions are to be presented for sale. A deficiency judgment
    may be obtained after all or any portion of the Property has been sold, with such judgment taking into account the value of
    all of the parcels previously sold, and the period of time allowable for such judgment shall be deemed to run from the date
    of the last sale. In addition, the Bank may in its discretion subordinate this Mortgage to one or more Leases for the sole
    purpose of preserving any such Lease in the event of a foreclosure;
	 	 	 
	 	(d)	Cause
    one or more environmental assessments to be taken, arrange for the cleanup of any Hazardous Materials or otherwise cure the
    Mortgagor’s failure to comply with Environmental Law or other applicable law, and the Mortgagor shall provide the Bank
    or its agents with access to the Property for such purposes; provided that the exercise of any of such remedies shall not
    be deemed to have relieved the Mortgagor from any responsibility therefor or given the Bank “control” over the
    Property or cause the Bank to be considered to be a mortgagee in possession, “owner” or “operator”
    of the Property for purposes of any Environmental Law or other applicable law, rule or regulation; and
	 	 	 
	 	(e)	Take
    such other actions or proceedings as the Bank deems necessary or advisable to protect its interest in the Property and ensure
    payment and performance of the Obligations, including, without limitation, appointment of a receiver without prior notice
    (and the Mortgagor hereby waives any right to object to such appointment) and exercise of any of the Bank’s remedies
    provided herein or in any other Loan Document or otherwise available to a secured party or mortgagee under the Uniform Commercial
    Code or under other applicable law.

 

In
addition, the Bank shall have all other remedies provided by applicable law, including, without limitation, the right to pursue
an action by summary proceeding pursuant to Article 7 of the Real Property Action and Proceedings Law of the State of New York,
or a judicial sale of the Property or any portion thereof by deed, assignment or otherwise.

 

The
Mortgagor agrees and acknowledges that the acceptance by the Bank of any payments from either the Mortgagor or any guarantor after
the occurrence of any Event of Default, the exercise by the Bank of any remedy set forth herein or the commencement, discontinuance
or abandonment of foreclosure proceedings against the Property shall not waive the Bank’s subsequent or concurrent right
to foreclose or operate as a bar or estoppel to the exercise of any other rights or remedies of the Bank. The Mortgagor agrees
and acknowledges that the Bank, by making payments or incurring costs described herein, shall be subrogated to any right of the
Mortgagor to seek reimbursement from any third parties, including, without limitation, any predecessor in interest to the Mortgagor’s
title or other party who may be responsible under any law, regulation or ordinance relating to the presence or cleanup of Hazardous
Materials.

 

4.3
Advances. If the Mortgagor fails to pay
or perform any of its obligations respecting the Property, the Bank may in its sole discretion do so without waiving or releasing
Mortgagor from any such obligation. Any such payments may include, but are not limited to, payments for taxes, assessments and
other governmental levies, water rates, insurance premiums, maintenance, repairs or improvements constituting part of the Property.
Any amounts paid by the Bank hereunder shall be, until reimbursed by the Mortgagor, part of the Obligations and secured by this
Mortgage, and shall be due and payable to the Bank, on demand, together with interest thereon to the extent permitted by applicable
law, at the interest rate set forth in the Note that applies during the continuance of an Event of Default.

 

    	10

    	 

    

 

4.4
Cumulative Rights and Remedies. All of
the foregoing rights, remedies and options (including without limitation the right to enter and take possession of the Property,
the right to manage and operate the same, and the right to collect Rents, in each case whether by a receiver or otherwise) are
cumulative and in addition to any rights the Bank might otherwise have, whether at law or by agreement, and may be exercised separately
or concurrently and none of which shall be exclusive of any other. The Mortgagor further agrees that the Bank may exercise any
or all of its rights or remedies set forth herein without having to pay the Mortgagor any sums for use or occupancy of the Property.

 

4.5
Mortgagor’s Waiver of Certain Rights.
To the extent permitted by applicable law, the Mortgagor hereby waives the benefit of all present and future laws (i) providing
for any appraisal before sale of all or any portion of the Property or (ii) in any way extending the time for the enforcement
of the collection of the Obligations or creating or extending a period of redemption from any sale made hereunder.

 

5.
Miscellaneous

 

5.1
Costs and Expenses. To the extent permitted
by applicable law, the Mortgagor shall pay to the Bank, on demand, all reasonable expenses (including attorneys’ fees and
expenses and reasonable consulting, accounting, appraisal, brokerage and similar professional fees and charges) incurred by the
Bank in connection with the Bank’s interpretation, recordation of this Mortgage, exercise, preservation or enforcement of
any of its rights, remedies and options set forth in this Mortgage and in connection with any litigation, proceeding or dispute
whether arising hereunder or otherwise relating to the Obligations, together with interest thereon to the extent permitted by
applicable law, until paid in full by the Mortgagor at the highest rate set forth in any of the notes evidencing the Obligations.
Any amounts owed by the Mortgagor hereunder shall be, until paid, part of the Obligations and secured by this Mortgage, and the
Bank shall be entitled, to the extent permitted by law, to receive and retain such amounts in any action for a deficiency against
or redemption by the Mortgagor, or any accounting for the proceeds of a foreclosure sale or of insurance proceeds.

 

5.2
Indemnification Regarding Leases. The
Mortgagor hereby agrees to defend, and does hereby indemnify and hold the Bank and each other Indemnitee harmless from all Claims
in any way connected to the assignment of the Leases and from all demands that may be asserted against any Indemnitee arising
from any undertakings on the part of the Bank or any other Indemnitee to perform any obligations under the Leases. It is understood
that the assignment of the Leases shall not operate to place responsibility for the control or management of the Property upon
the Bank or any Indemnitee or make them liable for performance of any of the obligations of the Mortgagor under Leases, respecting
any condition of the Property or any other agreement or arrangement, written or oral, or applicable law.

 

5.3
Indemnification Regarding Hazardous Materials.
The Mortgagor hereby agrees to defend, and does hereby indemnify and hold harmless each Indemnitee from and against any and all
Claims of any environmental engineering or cleanup firm incurred by such Indemnitee and arising out of or in connection with the
Property or resulting from the application of any Environmental Law relating to the presence or cleanup of Hazardous Materials
on or affecting the Property. The Mortgagor agrees its obligations hereunder shall be continuous and shall survive termination
or discharge of this Mortgage and/or the repayment of all debts to the Bank including repayment of all Obligations.

 

5.4
Indemnitee’s Expenses. If any Indemnitee
is made a party defendant to any litigation or any claim is threatened or brought against such Indemnitee concerning this Mortgage
or the Property or any part thereof or therein or concerning the construction, maintenance, operation or the occupancy or use
thereof by the Mortgagor or other person or entity, then the Mortgagor shall indemnify, defend and hold each Indemnitee harmless
from and against all liability by reason of said litigation or claims, including attorneys’ fees and expenses incurred by
such Indemnitee in connection with any such litigation or claim, whether or not any such litigation or claim is prosecuted to
judgment. The within indemnification shall survive payment of the Obligations, and/or any termination, release or discharge executed
by the Bank or any other Indemnitee in favor of the Mortgagor.

 

    	11

    	 

    

 

5.5
Waivers. The Mortgagor waives notice of
nonpayment, demand, presentment, protest or notice of protest of the Obligations and all other notices, consents to any renewals
or extensions of time of payment thereof, and generally waives any and all suretyship defenses and defenses in the nature thereof.

 

5.6
Waiver of Homestead. To the maximum extent
permitted under applicable law, the Mortgagor hereby waives and terminates any homestead rights and/or exemptions respecting the
Property under the provisions of any applicable homestead laws, including without limitation, Section 5206 of the Civil Practice
Law and Rules of New York.

 

5.7
Statutory Construction. The clauses and
covenants contained in this Mortgage that are construed by Section 254 of the Real Property Law of New York shall be construed
as provided in those sections. The additional clauses and covenants contained in this Mortgage shall afford rights supplemental
to and not exclusive of the rights conferred by the clauses and covenants construed by Section 254 and shall not impair, modify,
alter or defeat such rights, notwithstanding that such additional clauses and covenants may relate to the same subject matter
or provide for different or additional rights in the same or similar contingencies as the clauses and covenants construed by Section
254. The rights of the Bank arising under the clauses and covenants contained in this Mortgage shall be separate, distinct and
cumulative and none of them shall be in exclusion of the others. No act of Bank shall be construed as an election to proceed under
any one provision herein to the exclusion of any other provision, anything herein or otherwise to the contrary notwithstanding.
In the event of any inconsistencies between the provisions of Section 254 and the provisions of this Mortgage, the provisions
of this Mortgage shall prevail.

 

5.8
Joint and Several. If there is more than
one Mortgagor, each of them shall be jointly and severally liable for payment and/or performance of all obligations secured by
this Mortgage and the term “Mortgagor” shall include each as well as all of them.

 

5.9
Severability. If any provision of this
Mortgage or portion of such provision or the application thereof to any person or circumstance shall to any extent be held invalid
or unenforceable, the remainder of this Mortgage (or the remainder of such provision) and the application thereof to other persons
or circumstances shall not be affected thereby.

 

5.10
Complete Agreement. This Mortgage and
the other Loan Documents constitute the entire agreement and understanding between and among the parties hereto relating to the
subject matter hereof, and supersedes all prior proposals, negotiations, agreements and understandings among the parties hereto
with respect to such subject matter.

 

5.11
Binding Effect of Agreement. This Mortgage
shall run with the land and be binding upon and inure to the benefit of the respective heirs, executors, administrators, legal
representatives, successors and assigns of the parties hereto, and shall remain in full force and effect (and the Bank shall be
entitled to rely thereon) until all Obligations are fully and indefeasibly paid. The Bank may transfer and assign this Mortgage
and deliver any collateral to the assignee, who shall thereupon have all of the rights of the Bank; and the Bank shall then be
relieved and discharged of any responsibility or liability with respect to this Mortgage and such collateral. Except as expressly
provided herein or in the other Loan Documents, nothing, expressed or implied, is intended to confer upon any party, other than
the parties hereto, any rights, remedies, obligations or liabilities under or by reason of this Mortgage or the other Loan Documents.

 

    	12

    	 

    

 

5.12
Governing Law. This Mortgage shall be
governed by federal law applicable to the Bank and, to the extent not preempted by federal law, the laws of the State of New York.

 

5.13
Jurisdiction and Venue. The Mortgagor
irrevocably submits to the nonexclusive jurisdiction of any Federal or state court sitting in New York, over any suit, action
or proceeding arising out of or relating to this Mortgage. The Mortgagor irrevocably waives, to the fullest extent it may effectively
do so under applicable law, any objection it may now or hereafter have to the laying of the venue of any such suit, action or
proceeding brought in any such court and any claim that the same has been brought in an inconvenient forum. The Mortgagor hereby
consents to process being served in any such suit, action or proceeding (i) by the mailing of a copy thereof by registered or
certified mail, postage prepaid, return receipt requested, to the Mortgagor’s address set forth herein or such other address
as has been provided in writing to the Bank and (ii) in any other manner permitted by law, and agrees that such service shall
in every respect be deemed effective service upon the Mortgagor.

 

5.14
JURY WAIVER. THE MORTGAGOR AND THE
BANK EACH HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY, AND AFTER AN OPPORTUNITY TO CONSULT WITH LEGAL COUNSEL, (A) WAIVE ANY
AND ALL RIGHTS TO A TRIAL BY JURY IN ANY ACTION OR PROCEEDING IN CONNECTION WITH THIS MORTGAGE, THE OBLIGATIONS, ALL MATTERS CONTEMPLATED
HEREBY AND DOCUMENTS EXECUTED IN CONNECTION HEREWITH AND (B) AGREE NOT TO CONSOLIDATE ANY SUCH ACTION WITH ANY OTHER ACTION IN
WHICH A JURY TRIAL CAN NOT BE, OR HAS NOT BEEN WAIVED. THE MORTGAGOR CERTIFIES THAT NEITHER THE BANK NOR ANY OF ITS REPRESENTATIVES,
AGENTS OR COUNSEL HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT THE BANK WOULD NOT IN THE EVENT OF ANY SUCH PROCEEDING SEEK TO
ENFORCE THIS WAIVER OF RIGHT TO TRIAL BY JURY.

 

[Signature
Page Follows]

 

    	13

    	 

    

 

EXECUTED
as of the date first above written.

 

	 	Mortgagor:
	 	 	 
	 	Premier Packaging Corporation
	 	 	 
	 	By:	 
	 	 	Frank
    D. Heuszel, CEO

 

	STATE
    OF NEW YORK	:
	 	SS.
	COUNTY
    OF 	:

 

On
the ___ day of June in the year 2019 , before me, the undersigned, a Notary Public in and for said State, personally appeared,
Frank D. Heuszel, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name
is subscribed to the within instrument and acknowledged to me that he executed the same in his capacity, and that by his signature
on the instrument, the individual, or the person upon behalf of which the individual acted, executed the instrument.

 

	 	 
	 	NOTARY
    PUBLIC
	 	 
	 	 
	 	TYPE
    OR PRINT NAME

 

[Signature
Page to Mortgage]

 

    	14

    	 

    

 

	 	CITIZENS
    BANK, N.A., a national banking association
	 	 	 
	 	By:	 
	 	 	Douglas
    Dandurand, Vice President

 

	STATE
    OF NEW YORK)	 
	 	 
	COUNTY
    OF MONROE) ss:	 

 

On
the ___ day of June in the year 2019 before me, the undersigned a notary public in and for the State of New York, personally appeared
Douglas Dandurand, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name
is subscribed to the within instrument and acknowledged to me that he executed the same in his capacity, and that by his signature
on the instrument, the individual, or the person upon behalf of which the individual acted, executed the instrument.

 

	 	 
	 	Notary
    Public

 

[Signature
Page to Mortgage]

 

    	15

    	 

    

 

EXHIBIT
“A”

 

Property
Description

 

All
that certain lot, piece or parcel of land, situate in the Village of Victor, County of Ontario and State of New York, being Lot
5 of the School Street Industrial Park Subdivision, as shown on a map prepared by Cornwall Consultants, P.C., and filed in the
Ontario County Clerk’s Office on November 3, 1989 at map number 17502.

 

Also,
all that certain lot, piece or parcel of land, situate in the Village of Victor, County of Ontario and State of New York, being
Lot 6 of the School Street Industrial Park Subdivision, as shown on a map prepared by Cornwall Consultants, P.C., and filed in
the Ontario County Clerk’s Office on November 3, 1989, at map number 17502.

 

The
above-described Lots 5 and 6 are now known collectively as Lot R-6 of the School Street Industrial Park Subdivision as shown on
a resubdivision map prepared by David Anderson and filed in the Ontario County Clerk’s Office on January 7, 1997, as map
number 23392.

 

    	16

    	 

    

 

EXHIBIT
“B”

 

A:

 

1.
That certain mortgage from Primo DiFelice to The Canandaigua National Bank and Trust Company in the original principal amount
of $300,000.00 recorded in the Monroe County Clerk’s Office on August 16, 1991 in Liber 716 of Mortgages at Page 1191;

 

2.
That certain mortgage from Primo DiFelice to The Canandaigua National Bank and Trust Company in the original principal amount
of $250,000.00 recorded in the Monroe County Clerk’s Office on April 29, 1994 in Liber 844 of Mortgages at Page 126;

 

which
mortgages 1 and 2 were consolidated to form a single lien in the amount of $550,000.00 by Mortgage Modification and Extension
Agreement recorded in the Monroe County Clerk’s Office on April 29, 1994 in Liber 844 of Mortgages at Page 456;

 

which
mortgages were further consolidated and modified to form a single lien in the amount of $550,000.00 by Mortgage Consolidation
Agreement recorded in the Monroe County Clerk’s Office on January 15, 1997 in Liber 954 of Mortgages at Page 456;

 

which
mortgages, as consolidated were assigned to M & T Real Estate, Inc. by Assignment of Mortgage recorded in the Monroe County
Clerk’s Office on January 15, 1997 in Liber 954 of Mortgages at Page 454.

 

3.
That certain mortgage from Bzdick Properties, LLC to M & T Real Estate, Inc. in the original principal amount of $293,046.95
recorded in the Monroe County Clerk’s Office on January 15, 1997 in Liber 954 of Mortgages at Page 457;

 

which
mortgage was consolidated with the above mortgages to form a single lien in the amount of $758,000.00 by Mortgage Spreader, Consolidation
and Modification Agreement recorded in the Monroe County Clerk’s Office on January 15, 1997 in Liber 954 of Mortgages at
Page 465;

 

which
mortgages, as consolidated, were further consolidated and modified to form a single lien in the amount of $610,574.03 by Mortgage
Modification and Extension Agreement recorded in the Monroe County Clerk’s Office on February 1, 2007 in Liber 1896 of Mortgages
at Page 462;

 

which
mortgages, as consolidated, were assigned by M & T Real Estate (successor by merger to M & T Real Estate, Inc.) to RBS
Citizens, N.A. recorded in the Monroe County Clerk’s Office on September 2, 2011 in Liber 2281 of Mortgages at Page 915.

 

4.
That certain mortgage from Premier Packaging Corporation to RBS Citizens, N.A. in the original principal amount of $688,034.70
recorded in the Monroe County Clerk’s Office on September 2, 2011 in Liber 2281 of Mortgages at Page 918;

 

which
mortgage was consolidated with the above mortgages to form a single lien in the amount of $1,200,000.00 by Consolidation, Extension
and Modification Agreement recorded in the Monroe County Clerk’s Office on September 2, 2011 in Liber 2281 of Mortgages
at Page 950.

 

B:
That certain mortgage from Premier Packaging Corporation to RBS Citizens, National Association in the original principal amount
of $450,000.00 dated December 6, 2013 and recorded in the Monroe County Clerk’s Office on December 9, 2013 in Liber 2518
of Mortgages at Page 447;

 

C:
That certain mortgage from Premier Packaging Corporation Citizens Bank, N.A. in the original principal amount of $4,864.74 dated
June 27, 2019 and to be recorded in the Monroe County Clerk’s Office;

 

    	17

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