Document:

Exhibit 10.27

 

LEASE
AGREEMENT

 

 

THIS
LEASE, is made and entered into on this 1st day of July 2020, by and between Kokopelli Properties, LLC (“the Landlord”)
and Vitro Diagnostics, Inc. (“the Tenant”). 

 

RECITALS:

 

The
Landlord is the owner of certain real property and improvements thereon located at 4621 Technology Drive, Golden, Colorado 80403
(“the Property”). The Tenant desires to lease the Property for a period of ten (10) years. The Landlord is willing to
lease the Property to the Tenant for ten (10) years. There shall also be four five-year options to extend the lease provided that
the Tenant is in compliance with the terms and conditions of the lease at the applicable time.

 

The
parties have agreed as to terms and conditions of the lease. The parties now desire to reduce to writing the terms and conditions of
their Lease Agreement. The following is their Lease Agreement:

 

ARTICLE
ONE DESCRIPTION OF PROPERTY

 

The
Landlord hereby leases to the Tenant, and the Tenant hereby leases from the Landlord, subject to the conditions hereinafter set
forth, the Property and improvements consisting of 3083 square feet located at 4621 Technology Drive, Golden, Colorado 80403. The
Landlord shall make available to Tenant 6 parking spaces for first two years; 8 spaces after 2 years; 10 spaces after 4
years.

 

ARTICLE
TWO TERM

 

Section
2-1. The term of this Lease shall be for a period often (10) years, commencing July 1, 2020 and running through the end of June,
2030 provided that the Tenant is in compliance with all of the terms and conditions of the lease, the Tenant shall have the right to
renew the lease. The Tenant shall have the right to renew the lease for an additional five (5) year period of time at the then fair market
value. The rent in no event may be less than the rent paid at the expiration of the original term of the lease. The Tenant shall have
three additional five-year options provided that the Tenant is in compliance with all of the terms and conditions of the lease. The base
rent at the beginning of each term to be no less than the rent paid at the end of the prior lease term.

 

ARTICLE
THREE RENTAL RATE

 

Section
3-1. The base rent shall be $21.97 per square foot. There are 3083 square feet so that the rent shall be Five Thousand Six Hundred
Forty-Four Dollars and Forty-Sis Cents ($5644.46) per month. Rent shall be payable in full as of the first day of each and every month.
The Landlord reserves the right to waive that increase, but if the Landlord does not waive the increase, it shall become effective as
of the first day of July of the applicable year. If the rent is not paid by the tenth day of the month, interest shall be assessed on
the monthly rental obligation at the rate often percent (10%) per annum. The interest to be assessed from the first day of the month
that the payment should have been made. Thus, if a payment was due as of June 1 of a year and it was not paid by the tenth day of the
month, then the interest would commence as of June 1 and not June 10. Further, if the default is not cured within ninety (90) days after
notice is sent by certified mail, return receipt requested, postage prepaid, sent to the last known address of the Tenant, then the Landlord
shall have the right to remove the Tenant. The interest rate on all future monthly payments would be at the ten percent (10%) per annum
unless the default is timely cured. The Tenant shall remain liable for paying the rent for each and every month until the Property is
re-let. Also, in all events, the Tenant shall be liable for any expenses which the Landlord incurs in re-letting the Property. The provisions
of Article Thirteen shall apply in the event of such default.

 

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Section
3-2. All alterations and improvements to the Property shall be subject to the Landlord’s prior written consent and all expenses
shall be at the Tenant’s sole cost and expense.

 

ARTICLE
FOUR INSURANCE AND TAXES

 

Section
4-1. The Tenant occupies 3,083 sq. ft. equal to 6.6% of total square footage of said building. The Tenant shall be responsible for
6.6% of building insurance & Commercial property taxes assessed against the Property and the improvements thereto. The Tenant shall
be responsible for personal property taxes related to contents located at said Leased property. The Tenant agrees to carry fire and extended
coverage insurance on the building in an amount to the Tenant’s sufficient to prevent the application of any co-insurance clauses.
The Landlord shall not be liable for the harm or loss arising from any act of neglect of the occupants of the building or of their employees
or from the bursting, overflowing or leaking of water or sewer or of steam pipes or from heating or plumbing fixtures or from electric
wires or from any other cause whatsoever, except in the case of neglect on the part of the Landlord. It is contemplated that the Tenant
will maintain its own insurance on its personal property and will hold the Landlord harmless from all loss or claims.

 

Section
4-2. The Tenant shall keep in full force and effect public liability insurance in the amount of at least $1,000,000.00 with $2,000,000.00
aggregate  at its sole cost and expense, covering both property damage and death or injury to person.

 

ARTICLE
FIVE UTILITIES

 

The
Tenant agrees to pay 6.6% of gas, electric, security, water and sewer expenses as well as any other utility expense.

 

ARTICLE
SIX USE OF THE PROPERTY

 

The
Tenant agrees to use and occupy the Property in a careful, safe and proper manner. The Tenant shall pay, on demand, for damages to the
Property caused by misuse or abuse of the Property by the Tenant, its agents or employees, or by any other person entering the Property
upon the express or implied invitation of the Tenant. The Tenant agrees it will not use or permit the Property to be used for any purpose
prohibited by law, ordinance, codes or rules and regulations of the United States, the State of Colorado and the City of Golden. The
Tenant will not commit waste or suffer or permit waste to be committed or permit any nuisance on or in the Property.

 

ARTICLE
SEVEN RE-ENTRY BY LANDLORD

 

The
Tenant covenants and agrees to permit the Landlord, at any time, to enter the Property for any of the following purposes: (a)
To examine and inspect the Property, or if the Landlord so elects, (b)To perform any obligations of the Tenant hereunder which
Tenant shall fail to perform, (c) To perform such maintenance, repairs, additions or alterations as the Landlord may deem necessary
or proper for the safe improvement or preservation of the Property, or as may be required by governmental authorities through any
code, rule, regulation, ordinance and/or law, (d) To post “For Sale” signs at anytime during the primary lease term or
any extensions thereof, or “For Rent” signs during the last three months of the primary lease term or any extensions
thereof; and (e) To show the Property to prospective brokers, agents, buyers or tenants. Any such re-entry shall not constitute an
eviction nor entitle the Tenant to an abatement of rent. Further, the Landlord shall, at all times, have the right, at its election,
to make such alterations or changes in other portions of the Property as it may, from time to time, deem necessary and advisable as
long as such alterations and changes do not unreasonably interfere with the Tenants use and occupancy of the Property.

 

ARTICLE
EIGHT ALTERATIONS

 

The
Tenant covenants and agrees not to make any alterations or additions to the Property without first obtaining the written consent of
the Landlord. All alterations in addition to the Property, including but not by way of illustration and not by limitation, all
partitioning, paneling, carpeting, drapes or other window coverings and light fixtures (but not including movable office furniture
not attached to the Property) shall be deemed a part of the Property and shall be the property of the Landlord and shall remain upon
and Be surrendered with the Property as part thereof, without molestation, disturbance or injury at the end of the lease
term, whether by lapse of time or otherwise, unless the Landlord, by notice given to the Tenant no later than fifteen (15) days
prior to the end of the term shall elect to have the Tenant remove all or any portion of such alterations or additions, and, in such
event, the Tenant shall promptly remove, at its expense, such alterations and additions and restore the Property to its condition
prior to the making of the alterations and additions, reasonable wear and tear excepted.

 

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ARTICLE
NINE REPAIRS AND CAPITAL IMPROVEMENTS

 

Section
9-1. The Tenant shall be responsible to make all repairs and capital improvements to the interior of Property at its own expense.
The Landlord shall not be required to make any repairs or capital improvements. All of the expenses for repairs and capital improvements
shall be at the sole expense of the Tenant. If the Tenant does not undertake said expenses within thirty (30) days of demand being made
by the Landlord, the Tenant shall be liable for those expenses which the Landlord incurs in enforcing its rights, including, but not
limited to, attorney’s fees and court costs. Further, the Landlord reserves the right as one of its options, should the Tenant
not timely commence the work, to do the work and then bill the Tenant for the work plus interest at the rate of eighteen percent (18%)
per annum.

 

Section
9-2. All repairs and capital improvements shall be made by individuals or entities approved by the Landlord. The Landlord must approve
said individuals or entities prior to the commencement of the work. One of the conditions for commencing said work, is that the Tenant
shall, on request, deliver to the Landlord certificates issued by insurance companies qualified to do business in the State of Colorado,
evidencing that worker’s compensation, public liability insurance and property damage insurance, all in the amounts, with companies
satisfactory to the Landlord, are in full force and effect and maintained by all contractors and subcontractors engaged by the Tenant
to perform such work. All such policies shall name the Landlord and the building management as an additional insured. Each such certificate
shall provide that the same may not be canceled or modified without thirty (30) days prior written notice to the Landlord. The Tenant
shall be responsible for 6.6% of costs associated with Common Area Maintenance to include: cleaning, landscape, snow removal, trash/recycle/shred
and pest control. The Tenant agrees to pay 50% of repair and maintenance to back-up Generator and shall be responsible for repair and
maintenance of two HVAC units located within the space occupied by Tenant.

 

Section
9-3. The Landlord, its agents and servants, shall have the right at any time during normal business hours to enter the Leased
property to examine and inspect the same.

 

Section
9-4. No alterations or additions may be made to the Leased premises without the express written consent of the Landlord.

 

ARTICLE
TEN DAMAGE TO IMPROVEMENTS

 

Section
10-1. If the Property shall be so damaged by fire or other casualty as to render the Property wholly untenantable, and if such
damage shall be so great that a competent architect, in good standing, selected by the Landlord shall certify in writing to the
Landlord and the Tenant that the Property, with the exercise of reasonable diligence, cannot be made fit for occupancy within one
hundred fifty (150) working days from the happening thereof, then this Lease shall cease and terminate from the date of the
occurrence of such damage, unless the parties jointly agree to extend said date; and the Tenant thereupon shall surrender to the
Landlord the Property and all interest therein hereunder, and the Landlord may reenter and take possession of the Property and
remove the Tenant therefrom. The Tenant shall pay rent, duly apportioned, up to the time of such termination of this
Lease.

 

Section
10-2. If, however, the damage shall be such that said architects shall certify that the Property can be made tenantable within said
one hundred fifty (150) day period from the happening of such damage or other casualty, then, except as hereinafter provided, the Landlord
shall repair the damage so done with all reasonable speed.

 

Section
10-3. If the Property, without the fault of the Tenant, shall be slightly damaged by fire or other casualty, but not so as to
render the same untenantable, the Landlord, after receiving notice in writing of the occurrence of the injury, shall cause the same
to be repaired with reasonable promptness.

 

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Section
10-4. If the fire or other casualty causing injury to the Property or other parts of the Building shall have been caused by the negligence
or misconduct of the Tenant or Its agents, servants or employees, or by any other person entering upon the Property under express or
implied invitation of the Tenant, such injury shall be repaired by the Landlord at the expense of the Tenant.

 

ARTICLE
ELEVEN SERVICES TO BE PROVIDED

 

The
Landlord shall provide heated or cooled air to the Property, as may, in the judgment of the Landlord, be reasonably required for the
comfortable use and occupancy of the Property. Said services shall be provided in ordinary business hours which are referred to as 7:30
a.m. through 5:00 p.m., Monday through Friday legal holidays excepted. The Tenant agrees that the Landlord shall not be liable for failure
to supply any such heating, air conditioning or other services when the Landlord uses reasonable diligence to supply the services or
during any period the Landlord is required to reduce or curtail such services pursuant to any applicable laws, rules or regulations,
now or hereinafter enforce or effect, it being understood that the Landlord may discontinue, reduce or curtail such services, or any
of them (either temporarily or permanently) at such times as it may be necessary by reason of accident, amount of availability
of employees, repairs, alterations, improvements, strikes, lockouts, riots, acts of God, application of applicable laws, statutes, rules
and regulations, or due to any other happening beyond the control of the Landlord. In the event of such interruption, reduction of discontinuance
of Landlord’s services (either temporary or permanent), the Landlord shall not be liable for damages to person or property as the
result thereof, nor shall the occurrence of any such event in any way be construed as an eviction of the Tenant, or cause or permit an
abatement, reduction of set up of rent, or operate to release the Tenant from any of the Tenant’s obligations hereunder. The Tenant
further agrees that if any installment of rent shall remain unpaid for more than fifteen (90) days after it shall become due, the Landlord
may, without notice to the Tenant, discontinue furnishing heat, air conditioning, electricity or lighting services, or any of them, until
all arrears of rent shall have been paid in full.

 

ARTICLE
TWELVE MECHANIC’S LIENS

 

The
Tenant shall pay, or cause to be paid all costs for work done or caused to be done by the Tenant on the Property, or a character which
will or may result in liens on the Landlord’s interest therein, and the Tenant will keep the Property free and dear of all mechanic’s
liens and other liens on account of work done for the Tenant or persons claiming under it. The Tenant agrees to indemnify, defend and
save the Landlord harmless of and from all liability, loss, damage, cost or expenses, including attorney’s fees on account of any
claims of any nature whatsoever, including claims on liens of laborers, material men or others for work performed for, or materials or
supplies furnished to the Tenant or persons claiming under the Tenant. Should any liens be filed of record against the Property, or any
action affecting the title thereto be commenced, the Tenant shall cause such liens to be removed of record within five days after notice
from the Landlord. If the Tenant desires to contest any claim or lien, it shall furnish the Landlord with adequate security of at least
one hundred fifty percent (150”/4) of the amount of the claim, plus estimated costs and interest and if a final judgment establishing
the validity or existence of any lien for any amount is entered, the Tenant shall pay and satisfy the same at once. If the Tenant shall
be in default in paying any charge for which mechanic’s lien or suit to foreclose the lien has been recorded or filed, it shall
not have given Landlord security as set forth herein, the Landlord may (but without being required to do so) pay such lien or claim,
and any cost thereon, and the amount so paid, together with reasonable attorney’s fees incurred in connection therewith, shall
immediately be due from the Tenant.

 

ARTICLE
THIRTEEN DEFAULT BY TENANT

 

Section
13-1. The occurrence of any of the following shall constitute an “event of default” by the Tenant:

 

13-1-1.
Failure to pay rent or any other amounts payable hereunder,-and such default shall continue for forty five (90) days after receipt of
written notice from the Landlord; provided, however, the Tenant shall not be entitled to more than two (2) notices of a delinquency in
a monetary default during any lease year. If thereafter, any rent or other amounts owing hereunder are not paid when due, a default shall
be considered to have occurred even though no notice thereof is given;

 

13-1-2.
The Tenant shall vacate or abandon the Property;

 

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13-1-3.
If this Lease or the estate of the Tenant hereunder shall be transferred to or shall pass to or devolve upon any other person
or party except in the manner herein provided;

 

13-1-4.
This Lease or the Property or any part thereof shall be taken upon execution or by other process of law directed against the Tenant,
or shall be taken upon or subject to any attachment at the instance of any creditor or claimant against the Tenant, and said attachment
shall not be discharged or disposed of within fifteen (15) days after the levy thereof;

 

13-1-5.
The Tenant shall file a petition in bankruptcy or insolvency or for reorganization or arrangement under the bankruptcy laws of the United
States or under any insolvency act of any state, or shall voluntarily take advantage of any such law or act by answer or otherwise, or
shall be dissolved or shall make an assignment for the benefit of creditors;

 

13-1-6.
Involuntary proceedings under any such bankruptcy law or insolvency act or for the dissolution of the Tenant shall be instituted against
the Tenant, or a receiver or trustee shall be appointed of all or substantially all of the property of the Tenant, and such proceeding
shall not be dismissed or such receivership or trusteeship vacated within sixty (60) days after such institution or appointment;

 

13-1-7.
The Tenant shall fail to take possession of the Property on the term commencement date;

 

13-1-8.
The Tenant shall fail to perform any of the other agreements, terms, covenants or conditions hereof on the Tenant’s part to be
performed, and such nonperformance shall continue for a period of thirty (3 0) days after notice thereof by the Landlord to the Tenant,
or if such performance cannot be reasonably had within such thirty (30) day period, the Tenant shall not in good faith have commenced
such performance within such thirty (30) day period and shall not diligently proceed therewith to completion.

 

Section
13-2. Upon the occurrence of an “event of default”, the Landlord shall have the right at its election, then or at any
time thereafter either:

 

13-2-1.
To give the Tenant written notice of intention to terminate this Lease on the date of such given notice or on any later date specified
therein, and on the date specified in such notice, the Tenant’s right to possession of the Property shall cease and this Lease
shall thereupon be terminated, except as to the Tenant’s liability; or

 

13-2-2.
Without demand or notice, to reenter and take possession of the Property or any part thereof, and repossess same as of Landlord’s
former estate and expel the Tenant and those claiming through or under the Tenant, and remove the effect of both or either, using such
force for such purposes as may be necessary, without being liable for prosecution thereof, without being deemed guilty of any manner
of trespass and without prejudice to any remedies for arrears of rent or preceding breach of covenants or conditions. Should the Landlord
elect to reenter as provided in this subsection 13-2-2, or should the Landlord take possession pursuant to legal proceedings or pursuant
to any notice provided for by law, the Landlord may, from time to time, without terminating this Lease, relet the Property or any part
thereof, either alone or in conjunction with other portions of the Building of which the Property are a part, in the Landlord’s
or the Tenant’s name, but for the account of the Tenant. Any reletting under this Section shall be for such term or terms (which
may be greater or less than the period which would otherwise have constituted the balance of the term of this Lease) and on such conditions
and upon such other terms (which may include concessions of free rent and alteration and repair of the Property) as the Landlord, in
its uncontrolled discretion, may determine, and the Landlord may collect and receive the rents therefore. The Landlord shall in no way
be responsible or liable for any failure to relet the Property, or any part thereof, or for any failure to collect any rent due upon
such reletting. No such reentry or taking possession of the Property by the Landlord shall be construed as an election on the Landlord’s
part to terminate this lease unless a written notice of such intention begiven to the Tenant. No notice from the Landlord hereunder or
under a forcible entry and detainer statute or similar law shall constitute an election by the Landlord to terminate this Lease unless
such notice specifically so states. The Landlord reserves the right following any such reentry and/or reletting to exercise its right
to terminate this Lease by giving the Tenant such written notice, in which event the Lease will terminate as specified in said notice.

 

Section
13-3. If the Landlord does not elect to terminate this Lease as permitted in subsection 13-2-1of this Article, but on the
contrary, elects to take possession as provided in subsection 13-2-2 hereof, the Tenant shall pay to the Landlord (i) the rent and
other sums as herein provided, which would be payable hereunder if such repossession had not occurred, less (ii) the net proceeds,
if any, of any reletting of the Property after deducting all the Landlord’s expenses, attorney’s fees, expenses of
employees, alteration and repair costs and expenses of preparation for such reletting. If, in connection with any reletting, the new
Lease term extends beyond the existing term or the Property covered thereby include other premises not part of the Property, a fair
apportionment of the rent received from such reletting and the expenses incurred in connection therewith as provided aforesaid will be
made in determining the net proceeds received from such reletting. In addition, in determining the net proceeds from such
reletting, any rent concessions will be apportioned over the term of the new lease. The Tenant shall pay such amounts to the
Landlord monthly on the days on which the rent would have been payable hereunder if possession had not been retaken and the Landlord
shall be entitled to receive the same from the Tenant on each such day.

 

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Section
13-4. If this Lease is terminated pursuant to the provisions of this Article, the Tenant shall be liable to the Landlord for damages
in an amount equal to the rent and other sums which would have been owing by the Tenant hereunder for the balance of the term had this
Lease not been terminated, less the net proceeds, if any, of any reletting of the Property by the Landlord subsequent to such termination,
after deducting all of the Landlord’s expenses in connection with such reletting, including, but without limitation, the expenses
enumerated above. The Landlord shall be entitled to collect such damages from the Tenant monthly on the days on which the rent and other
amounts would have been payable hereunder if this Lease had not been terminated, and the Landlord shall be entitled to receive the same
from the Tenant on each such day. Alternatively, at the option of the Landlord, if this Lease is terminated, the Landlord shall be entitled
to recover forthwith against the Tenant as damages for loss of the bargain and not as a penalty, an amount equal to the worth at the
time of such termination of the excess, if any, of the amount of rent reserved in this Lease for the balance of the term hereof in excess
of the then reasonable rental value of the Property for the same period. It is agreed that the “reasonable rental value”
shall be the amount of rental which the Landlord can obtain as rent for the remaining balance of the term.

 

Section
13-5. Suit or suits for the recovery of the rent and other amounts and damages set forth hereinabove may be brought by the Landlord
from time to time, at the Landlord’s election, and nothing herein shall be deemed to require the Landlord to await the date whereon
this Lease or the term hereof would have expired by limitation had there been no such default by the Tenant, or no such termination,
as the case may be. Each right and remedy provided in this Lease shall be cumulative and shall be in addition to every other right or
remedy provided for in this Lease or now or hereafter existing at law or in equity or by statute or otherwise, including, but not limited
to, suits for injunctive relief and specific performance. The exercise or beginning of the exercise by the Landlord or any one or more
of the rights or remedies provided for in this Lease or now or hereafter existing at law or in equity or otherwise shall not preclude
the simultaneous or later exercise by the Landlord of any or all other rights or remedies provided for in this Lease or now or hereafter
existing at law or in equity or otherwise. All costs incurred by the Landlord in connection with collecting any rent and other amounts
and damages owing by the Tenant pursuant to the provisions of this Lease or to enforce any provision of this Lease, including reasonable
attorney’s fees from that date any such manner is turned over to an attorney, whether or not one or more actions are commenced
by the

Landlord,
shall also be recovered by the Landlord from the Tenant.

 

Section
13-6. No failure by the Landlord to insist upon the strict performance of any agreement, term, covenant or condition hereof or to
exercise any right or remedy consequent upon a breach thereof, and no acceptance of full or partial rent during the continuance of any
such breach, shall constitute a waiver of any such breach or of such agreement, term, covenant or condition. No Agreement, term, covenant
or condition hereof to be performed or complied with by the Tenant, and no breach thereof, shall be waived, altered or modified except
by written instrument executed by the Landlord. No waiver of any breach shall affect or alter this Lease, but each and every agreement,
term, covenant and condition hereof shall continue in full force and effect with respect to any other then existing or subsequent breach
thereof. Not withstanding any termination of this Lease, the same shall continue in force and effect as to any provisions which require
observance or performance by the Landlord or the Tenant subsequent to such termination.

 

Section
13-7. Nothing in this Article shall limit or prejudice the right of the Landlord to prove and obtain as liquidated damages in any
bankruptcy, insolvency, receivership, reorganization or dissolution proceeding, an amount equal to the maximum allowed by any statute
or rule of law governing such a proceeding and in effect at the time when such damages are to be proved, whether or not such amount be
greater, equal to or less than the amounts recoverable, either as damages or rent, referred to in any of the preceding provisions of
this Article.

 

Section
13-8. Notwithstanding anything contained hereinabove in this Article to the contrary, any such proceeding or action involving bankruptcy,
insolvency, reorganization, arrangement, assignment for the benefit of creditors or appointment of a receiver or trustee set forth above,
shall be considered to be an event of default only when such proceeding, action or remedy shall be taken or brought by or against the
then holder of the leasehold estate under this Lease.

 

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ARTICLE
FOURTEEN SUBORDINATION AND ATTORNMENT

 

This
Lease, at the Landlord’s option, shall be subordinate to any mortgage, deed of trust (now or hereafter placed upon the Property),
ground lease or declaration of covenants (now or hereafter placed upon the Property) regarding maintenance and use of any areas contained
in any portion of the Property, and to any and all advances made under any mortgage or deed of trust and to all renewals, modifications,
consolidations, replacements and extensions hereof. The Tenant agrees that with respect to any of the foregoing documents, no documentation,
other than this Lease, shall be required to evidence such subordination. If any holder of a mortgage or deed of trust shall elect to
have this lease superior to the lien of its mortgage or deed of trust and shall give written notice thereof to the Tenant, this Lease
shall be deemed prior to such mortgage or deed of trust whether this Lease is dated prior or subsequent to the date of said mortgage,
deed of trust or the date of recording thereof. The Tenant agrees to execute such documents which may be required to effectuate such
subordination or to make the Lease junior to the lien of any mortgage or deed of trust, as the case may be, and failing to do so within
ten (10) days after written demand, the Tenant does hereby make, constitute and irrevocably appoint the Landlord as the Tenant’s
attorney-in-fact and in the Tenant’s name, place and stead, to do so. The Tenant hereby attorns to all successor owners of the
Building, whether or not such ownership is acquired as a result of sale, through foreclosure of a deed of trust or mortgage, or otherwise.
Notwithstanding the foregoing, the Tenant’s possession and the terms of this lease shall not change or be disturbed if the Tenant
is not in default hereunder.

 

ARTICLE
FIFTEEN HOLDING OVER: TENANCY MONTH TO MONTH

 

If
after the expiration of this Lease the Tenant shall remain in possession of the Property and continue to pay rent, without any
express written agreement as to such holding, then such holding over shall be deemed and taken to be a holding upon a tenancy from
month-to month, subject to all the terms and conditions hereof on the part of the Tenant to be observed and performed and at a
monthly rent equivalent to one hundred fifty percent (150%) of the monthly installments paid by the Tenant immediately prior to such
expiration, payable in advance on the same day of each calendar month. Such month-to-month tenancy may be terminated by either party
upon ten (10) days’ written notice prior to the end of any such monthly period.

 

ARTICLE
SIXTEEN PAYMENTS AFTER TERMINATION

 

No
payments of money by the Tenant to the Landlord after the termination of this Lease, in any manner, or after giving of any notice (other
than a demand for payment of money) by the Landlord to the Tenant, shall reinstate, continue or extend the term of this Lease or affect
any notice given to the Tenant prior to the payment of such money, it being agreed that after the service of notice or the commencement
of a suit or other final judgment granting the Landlord possession of said premises, the landlord may receive and collect any sums of
rent due, or any other sums of money due under the terms of this Lease, or otherwise exercise its rights and remedies hereunder. The
payment of such suns of money, whether as rent or otherwise, shall not waive said notice, or in any manner affect any pending suit or
judgment theretofore obtained.

 

ARTICLE
SEVENTEEN TENANT ESTOPPEL STATEMENT

 

The
Tenant further agrees at anytime and from time to time, upon not less than ten (10) days’ prior written request by the Landlord,
to execute, acknowledge and deliver to the Landlord a statement in writing certifying that this Lease is unmodified and in full force
and effect (or in full force and effect as modified, and stating the modifications), that there have bene no defaults thereunder by the
Landlord or the Tenant (or if there have been defaults, setting forth the nature thereof), the amount of the minimum monthly rent the
amount of any security deposit and the date to which the rent and other charges have been paid in advance, if any. It is intended that
any such statement delivered pursuant to this paragraph may be relied upon by any prospective purchaser of all or any portion of the
Landlord’s interest herein, or a holder of any mortgage or deed of trust encumbering the Property. The Tenant’s failure to
deliver such statement within such time shall be conclusive upon the Tenant (I) that this Lease is in full force and effect, without
modification except as may be represented by the Landlord, (ii) that there are no uncured defaults in the Landlord’s performance,
and (iii) that not more than one (1) month’s rent has been paid in advance. Further, upon request, the Tenant will supply the Landlord
a corporate resolution certifying that the party signing this statement on behalf of the Tenant is properly authorized to do so.

 

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ARTICLE
EIGHTEEN CONDEMNATION

 

Section
18-1. If, during the term of this Lease, the whole or substantially all of the Leased property shall be taken as the result of the
exercise of the power of eminent domain, which shall include the taking by condemning authority or voluntary conveyance in the lieu thereof,
this Lease shall terminate as of the date of vesting of title pursuant to such proceedings. For the purpose of this section substantially
all of the Property shall be deemed to have been taken if the Tenant in its option cannot reasonably operate its business in the remainder
of the Property. A temporary taking, whether of all or part, shall not operate to terminate this Lease but the rents hereunder shall
abate during such taking.

 

Section
18-2. If during the term of this Lease title to less than the whole or less than substantially all the Leased property shall be
taken in any such proceeding, this Lease shall not terminate, but the rent thereafter shall be reduced in such just proportion as
the nature, value and extent of the part so taken bears to the whole of the Property. If necessary, the Landlord shall promptly
proceed to repair, restore and place in proper condition for use and occupancy the part of the improvements not so taken in such
proceeding. In the event the award in such proceeding does not specifically allocate the proceeds between land, improvements and the
Leasehold estates, and in the event the Landlord and the Tenant are unable to reach an agreement with respect to such allocation,
reflecting their respective interest, the question of allocation may be submitted to arbitration under the then rules of the
American Arbitration Association.

 

ARTICLE
NINETEEN ASSIGNMENT AND SUBLEASING

 

The
Tenant shall not assign this Lease, or any interest therein, nor sublet any part of the Property to any person without express written
consent of the Landlord.

 

ARTICLE
TWENTY TERMINATION

 

The
Tenant agrees to deliver up and surrender the possession of the Leased premises at the expiration or termination of this lease in as
good as repair as when the Tenant obtained the same, expecting only ordinary wear and decay.

 

ARTICLE
TWENTY ONE NOTICES

 

Any
notices to be given the Tenant or the Landlord under this Lease shall be in writing and shall be deemed duly served by the Landlord upon
the Tenant if mailed by certified mail, postage prepaid, addressed to the Tenant at 4621Technology Drive, Golden, Colorado 80403; and
by the Tenant upon the Landlord, if mailed by certified mail, postage prepaid, addressed to the Landlord at P.O. Box 1264, Conifer, Colorado
80433 or such other addresses as either of the parties may hereafter fix by notice in writing to the other.

 

ARTICLE
TWENTY TWO QUIET POSSESSION 

 

The
Landlord shall warrant and defend the Tenant in the enjoyment and peaceful possession of the Property during the term of the Lease, subject
to all terms, conditions and covenants to be observed and performed by the parties hereto, which shall be applicable to and binding upon
their successors, assigns and legal representatives. In the event the occupancy by the Tenant and its use of the Property as contemplated
herein is prohibited or restricted by a change of zoning ordinance or the like then this Lease shall terminate as of the effective date
of such change of law or ordinance.

 

ARTICLE
TWENTY THREE ENACTMENTS OF RULES AND REGULATIONS 

 

The
Landlord reserves the right to enact rules and regulations which it deems appropriate or necessary with regards to

 

    	Page 8 of 9

     

    

 

ARTICLE
TWENTY THREE ENACTMENTS OF RULES AND REGULATIONS

 

The
Landlord reserves the right to enact rules and regulations which it deems appropriate or necessary with regards to said Property; provided,
however, that no rules or regulations may unreasonably interfere with the Tenant’s utilization of the Property.

 

ARTICLE
TWENTY FOUR NO SIGN OR ADVERTISEMENT 

 

Itis
agreed that no sign, advertisement or notice shall be inscribed, painted or fixed on any part of the inside or outside of the Property
unless such color, size and style and in such place or upon or in the Property, is approved by the Landlord.

 

In
Witness WHEREOF, this Lease was signed on the day and year first above written.

 

	Vitro
    Diagnostics, Inc 	 	Kokopelli
    Properties, LLC
	 	 	 
	Tenant
    	 	Landlord
    
	 	 	 
	/s/
    John R. Evans	 	/s/
    Phyllis Sordelet
	Signature
    	 	Signature
	 	 	 
	John
    R. Evans	 	Phyllis
    Sordelet
	Printed
    Name 	 	Printed
    Name
	 	 	 
	C.F.O	 	C.E.O./
    Owner
	Title
    	 	Title
	 	 	 
	7/9/20	 	7/10/2020
	Date
    	 	DateExhibit
10.28 

 

THIS
NOTE HAS NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN
EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY,
MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE
EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH
APPLICABLE STATE SECURITIES LAWS.

 

	No.
    2020-002	U.S.
    $1,221,958
	 	Original
    Issue Date: November 1,2020

 

4%
UNSECURED PROMISSORY NOTE

DUE
DECEMBER 31, 2025

 

THIS
NOTE is a duly authorized Note of Vitro Biopharma, Inc., a Nevada corporation (the “Company”), designated as
its 4% Unsecured Promissory Notes (the “Notes”) due on December 31, 2025 (the “Maturity Date”).

 

THIS
NOTE is made to evidence the obligation of the Company to pay to Holder accrued and unpaid compensation at October 31, 2020. The liability
of the Company to Holder for accrued and unpaid compensation shall be deemed merged into this Note and shall hereafter not constitute
a separate obligation of the Company.

 

FOR
VALUE RECEIVED, the Company promises to pay to James Musick, the registered holder hereof (the “Holder”), the principal
sum of One Million Two Hundred Twenty One Thousand Nine Hundred Fifty Eight and 00/100 Dollars (US $1,221,958) and to pay interest on
the principal sum outstanding from time to time at the rate of 4% per annum, calculated from the date of initial issuance of this Note
(the “Issue Date”).

 

It
is a condition precedent (“Conditions”) to the Company’s obligation to pay this Note, principal and accrued interest,
that the Company has paid in full or otherwise retired its obligations under (i) the Company’s Series 2018 10% Senior Secured Promissory
Notes, (ii) the Company’s Series A Convertible Preferred Stock and (iii) the Company’s Series B Convertible Preferred Stock
(if issued). If the Conditions have not been satisfied on or before the Maturity Date, the Maturity Date shall be automatically extended,
without further action or writing, to a date that is 60 days following the satisfaction of the Conditions.

 

The
Company shall pay all accrued and unpaid interest, and shall pay the outstanding principal balance hereof on the earlier of (i) the Early
Redemption Date or (ii) the Maturity Date.

 

This
Note is also being issued pursuant to the terms of the Subscription Agreement (the “Subscription Agreement”), to which the
Company and the Holder (or the Holder’s predecessor in interest) are parties. Capitalized terms not otherwise defined herein shall
have the meanings ascribed to them in the Subscription Agreement.

 

This
Note is subject to the following additional provisions.

 

Section
1. No Collateral. This Note is unsecured.

 

Section
2. No Sale or Transfer. This Note may not be sold, transferred, assigned, hypothecated or divided into two or more Notes of
smaller denominations except to the extent such sale, transfer, assignment, hypothecation or division is in compliance with federal and
applicable state securities laws, the compliance with which must be established to the reasonable satisfaction of the Company.

 

    	 	1	 

    	 

    

 

Section
3. No Limitations on Debt. The existence of this Note does not preclude the Company from incurring other indebtedness.

 

Section
4. Provisions Regarding Payment of interest. Interest hereunder will be paid to the Holder, calculated from the date of initial
issuance of this Note (the “Issue Date”) and payable, if not paid previously, at the Maturity Date.

 

Section 5.
(a) “Event of Default” wherever used herein, means any one of the following events (whatever the reason and whether
it shall be voluntary or involuntary or effected by operation of law or pursuant to any judgment, decree or order of any court, or any
order, rule or regulation of any administrative or governmental body):

 

 (i) Any default in the payment of the principal of or interest on this Note as and when the same shall become due and payable after thirty (30) days’ written notice of default, (whether on the Maturity Date or by acceleration or otherwise);

 

 (ii) The Company shall fail to observe or perform any other covenant, agreement or warranty contained in, or otherwise commit any breach of, this Note or and such failure or breach shall not have been remedied within 30 days after the date on which notice of such failure or breach shall have been given;

 

(iii)
The Company shall commence a voluntary case under the United States Bankruptcy Code or insolvency laws as now or hereafter in
effect or any successor thereto (the “Bankruptcy Code”  );
 or an involuntary case is commenced against the
Company under the Bankruptcy Code and the petition is not controverted within 30 days, or is not dismissed within 60 days, after commencement
of such involuntary case; or a “custodian” (as defined in the Bankruptcy Code) is appointed for, or takes charge of, all
or any substantial part of the property of the Company or the Company commences any other proceeding under any reorganization, arrangement,
adjustment of debt, relief of debtors, dissolution, insolvency or liquidation or similar law of any jurisdiction whether now or
hereafter in effect relating to the Company or there is commenced against the Company any such proceeding which remains undismissed for
a period of 60 days; or the Company is adjudicated insolvent or bankrupt; or any order of relief or other order approving any such case
or proceeding is entered; or the Company suffers any appointment of any custodian or the like for it or any substantial part of its property
which continues undischarged or unstayed for a period of 60 days; or the Company makes a general assignment for the benefit of creditors;
or the Company shall fail to pay, or shall state that it is unable to pay its debts generally as they become due; or the Company shall
call a meeting of all of its creditors with a view to arranging a composition or adjustment of its debts; or the Company shall by any
act or failure to act indicate its consent to, approval of or acquiescence in any of the foregoing· or any corporate or other
action is taken by the Company for the purpose of effecting any of the foregoing.

 

(b)
Remedies. The Holder may declare a default under Section 5(a)(i) upon not less than 30 days’ written notice to the Company.
If the Company fails to cure an Event of Default within such period (or if the cure cannot be reasonably completed within such
period, commence the cure of the Event of Default and diligently pursue such cure), then the principal amount hereof together with
all accrued and unpaid interest up to the date of default shall thereafter accrue interest at the default interest rate of 8% per
annum and the Holder ma y:

 

 (i) Declare all amounts due under the Note immediately due and owing and exercise all rights with respect thereto permitted by law;

 

(ii)
Apply to a court that has jurisdiction ion over the Company for the appointment of a receiver to manage the assets and operations of
the Company;

 

    	 	2	 

    	 

    

 

 (iii) Assert any other remedy available at law or in equity.

 

Section
6. Intentionally Omitted

 

Section
7. following meanings:

 

Definitions. For the purposes hereof, the following terms
shall have the 

 

“Business
Day” means any day except Saturday, Sunday and any day which shall be a legal holiday or a day on which banking institutions
in the State of Colorado are authorized or required by law or other government action to close.

 

“Company”
means Vitro Biopharma, a Nevada corporation.

 

“Holder”
means any Person who is a registered holder of this Note as listed in the books of the Company.

 

“Material
Adverse Effect” means a material adverse effect upon the business, operations, properties, assets or condition (financial or
otherwise) of the Company taken as a whole.

 

“Maturity
Date’’ means the date defined in the first paragraph or (if earlier) the date of any prepayment or acceleration.

 

“Original
Issue Date’’ shall mean the date this Note is purchased by the initial holder.

 

“Person”
means a corporation, an association, a partnership, organization, a business, an individual, a government or political subdivision
thereof or a governmental agency.

 

Section
8. Intentionally Omitted

 

Section
9. No Impairment. Except as expressly provided herein, no provision of this Note shall alter or impair the obligation of
the Company, which is absolute and unconditional, to pay the principal of, and interest on, this Note at the time, place, and rate,
and in the coin or currency, herein prescribed. This Note is a direct obligation of the Company.

 

Section
10. No Rights as a Shareholder. This Note shall not entitle the Holder to any of the rights of a shareholder of the Company,
including without limitation, the right to vote, to receive dividends and other distributions, or to receive any notice of, or to attend,
meetings of shareholders or any other proceedings.

 

Section
11. No recourse shall be had for the payment of the principal of, or the interest on, this Note, or for any claim based hereon, or
otherwise in respect hereof, against any incorporator, member, shareholder, manager, officer or director, as such, past, present or future,
of the Company or any successor entity, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment
or penalty or otherwise, all such liability being, by the acceptance hereof and as part of the consideration for the issue hereof, expressly
waived and released.

 

Section
12. All payments contemplated hereby to be made “in cash” shall be made in immediately available good funds of United
States of America currency by wire transfer to an account designated in writing by the Holder to the Company (which account may be changed
by notice similarly given). All payments of cash and each delivery of shares of Common Stock issuable to the Holder as contemplated hereby
shall be made to the Holder at the address last appearing on the Note Register of the Company as designated in writing by the Holder
from time to time; except that the Holder can designate, by notice to the Company, a different delivery address for any one or more specific
payments or deliveries.

 

    	 	3	 

    	 

    

 

Section
13. The Holder of the Note, by acceptance hereof, agrees that this Note is being acquired for investment and that such Holder will
not offer, sell or otherwise dispose of this Note except under circumstances which will not result in a violation of the Act or any applicable
state Blue Sky or foreign laws or similar laws relating to the sale of securities.

 

Section
14. The Notes will initially be issued in denominations determined by the Company, but are exchangeable for an equal aggregate principal
amount of Notes of different denominations, as requested by the Holder surrendering the same. No service charge will be made for such
registration or transfer or exchange.

 

Section
15. The Company shall be entitled to withhold from all payments of principal of, and interest on, this Note any amounts required
to be withheld under the applicable provisions of the United States income tax laws or other applicable laws at the time of such payments,
and Holder shall execute and deliver all required documentation in connection therewith.

 

Section
16 This Note has been issued subject to investment representations of the original purchaser hereof and may be transferred or exchanged
only in compliance with the Securities Act of 1933, as amended (the “Act’’), and other applicable state and foreign
securities laws and the terms of the Subscription Agreement. In the event of any proposed transfer of this Note, the Company may require,
prior to issuance of a new Note in the name of such other person, that it receive reasonable transfer documentation that is sufficient
to evidence that such proposed transfer complies with the Act and other applicable state and foreign securities laws and the terms of
the Subscription Agreement. Prior to due presentment for transfer of this Note, the Company and any agent of the Company may treat the
person in whose name this Note is duly registered on the Company’s Note Register as the owner hereof for the purpose of receiving
payment as herein provided and for all other purposes, whether or not this Note be overdue, and neither the Company nor any such agent
shall be affected by notice to the contrary.

 

Section
17. Mutilated, Lost or Stolen Notes. If this Note shall be mutilated, lost, stolen or destroyed, the Company shall execute
and deliver, in exchange and substitution for and upon cancellation of a mutilated Note, or in lieu of or in substitution for a lost,
stolen or destroyed Note, a new Note for the principal amount of this Note so mutilated, lost, stolen or destroyed but only upon receipt
of evidence of such loss, theft or destruction of such Note, and of the ownership hereof, and adequate indemnity, if requested, all reasonably
satisfactory to the Company.

 

Section
18. Governing Law. This Note shall be governed by and construed in accordance with the laws of the State of Colorado. Each
of the parties consents to the exclusive jurisdiction of the federal courts whose districts encompass any part of Denver, Colorado, or
the state courts of the State of Colorado in connection with any dispute arising under this Agreement and hereby waives, to the maximum
extent permitted by law, any objection, including any objection based on forum non convenient, to the bringing of any such proceeding
in such jurisdictions. To the extent determined by such court, the Company shall reimburse the Holder for any reasonable legal fees and
disbursements incurred by the Holder in enforcement of or protection of any of its rights under any of this Note.

 

Section
19. Waiver of Jury Trial: No Other Waivers. The Company and the Holder hereby waive the right to a trial by jury in any action,
proceeding or counterclaim in respect of any matter arising out or in connection with this Note. Any waiver by the Company or the Holder
of a breach of any provision of this Note 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 Note. The failure of the Company or the Holder to insist upon strict adherence to
any term of this Note on one or more occasions shall not be considered a waiver or deprive that party of the right thereafter to insist
upon strict adherence to that term or any other term of this Note. Any waiver must be in writing.

 

    	 	4	 

    	 

    

 

Section
20. Severability. If any provision of this Note is invalid, illegal or unenforceable, the balance of this Note 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.

 

Section
21. Obligations Due on a 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 (or, if such next succeeding Business Day falls in the
next calendar month, the preceding Business Day in the appropriate calendar month).

 

IN
WITNESS WHEREOF, the Company has caused this instrument to be duly executed by an officer duly authorized for such purpose, as
of the date first above indicated.

 

	 	Vitro Biopharma, Inc.
	 	 	 
	 	By:	/s/
    John R. Evans
	 	Name: 	John
    R. Evans
	 	Title:	CFO
    & Director
	 	 	 

    	 	5	 

    	 

    

 

Accepted
this 1st day of Nov 2020 by the undersigned, thereunto duly authorized, in accordance with the term stated herein
and the Subscription Agreement pursuant to which the undersigned acquired this Note.

 

Name
of Holder: Jim Musick                             

By:
/s/ James Musick                      

 

Tax Identification Number: SS. ______________

 

    	 	6	 

    	 

    

 

SUBSCRIPTION
AGREEMENT

 

Vitro
Biopharma, Inc. (the “Company”)

 

Gentlemen:

 

1. The
undersigned hereby accepts the issuance of a 4% Unsecured Convertible Promissory Note in the principal amount of $1,221,958 (hereafter
the “Securities”) to evidence the indebtedness of the Company to the undersigned for accrued but unpaid compensation owed
to the undersigned (“Investor”).

 

2. The
representations and agreements confirmed hereby are made for the purpose of the Company’s reliance in connection with an unregistered
sale of the Note of the Company as hereinafter set forth.

 

3. The
undersigned, by reason of his knowledge and experience in financial and business matters, believes himself capable of evaluating the
merits and risks of this investment.

 

4. In
connection therewith, Investor represents and warrants his understanding that this investment is extremely speculative and subject to
a high degree of risk. Investor further understands that because of the speculative nature of this investment, he may lose the entire
investment and Investor represents that he has the economic wherewithal to absorb a total loss of this investment.

 

5. The
undersigned acknowledges receipt of such information as he deems necessary or appropriate as a prudent and knowledgeable investor in
evaluating the purchase or acquisition of the Note. The undersigned acknowledges that the Company has made available to him the opportunity
to obtain additional information to evaluate the merits and risks of this investment. The undersigned acknowledges that he had the opportunity
to ask questions of the Company, and, to the extent he availed himself of such opportunity, he received satisfactory answers from the
Company, or its affiliates, associates, or employees concerning the terms and conditions of the offering.

 

6. Based
upon the foregoing, Investor acknowledges the risk and highly speculative aspect of the Note he is acquiring in the Company, he is familiar
with the management, contemplated operations, financial conditions and all other factor-s regarding the Company, and has fully satisfied
himself with respect to the nature of the investment, and has received no assurances of any kind whatsoever relative thereto, nor have
there been any other representations made by the Company or any of its principals or affiliates regarding any potential increment in
value of the Company’s stock acquired by Investor.

 

7.
The undersigned hereby represents, warrants and agrees that he is acquiring the Note solely for his own account, for investment,
and not with a view to the distribution or resale thereof. The undersigned further represents that his financial condition is such that
he is not under any present necessity or constraint to dispose of such Note to satisfy any existing or contemplated debt or undertaking.

 

    	 	-1-	 

    	 

    

 

8.
THE UNDERSIGNED IS AWARE OF THE FACT THAT THE NOTE HAS NOT BEEN REGISTERED NOR IS REGISTRATION CONTEMPLATED UNDER THE SECURITIES
ACT OF 1933, AND ACCORDINGLY, THAT SUCH NOTE MUST BE HELD INDEFINITELY UNLESS THEY ARE SUBSEQUENTLY REGISTERED UNDER SAID ACT OR
UNLESS, IN THE OPINION OF COUNSEL FOR THE COMPANY, A SALE OR TRANSFER MAY BE MADE WITHOUT REGISTRATION THEREUNDER. The undersigned
agrees that any certificate evidencing the Shares may bear a legend restricting the transfer thereof subject to the approval of the
Company that the transfer is lawful.

 

9. Investor
agrees that the Note being acquired will not be sold, transferred, or assigned without a valid registration statement being in effect,
or in the opinion of counsel for the Company, pursuant to an exemption from registration.

 

10. The
undersigned understands that no federal or state agency has recommended or endorsed the purchase of the Note or passed on the adequacy
of the information provided by the Company.

 

11. The
undersigned acknowledges that neither the Company nor any person acting on behalf of the Company offered to sell him Note by means of
any form of general advertising, such as media advertising or seminars.

 

12.
The undersigned represents and warrants that the undersigned may come within at least one category marked below, and that for any
category marked the undersigned has truthfully set forth the factual basis or reason the undersigned comes within that category. ALL
INFORMATION IN RESPONSE TO THIS PARAGRAPH WILL BE KEPT STRICTLY CONFIDENTIAL. The undersigned agrees to furnish any
additional information which the Company deems necessary in order to verify the answers set forth below. [Check One, if
applicable]

 

	Category
    I		The
    undersigned is an individual (not a partnership, corporation,  etc.) whose individual net worth, or joint
    net worth with the undersigned’s spouse, presently exceeds $1,000, 000.
	 	 	 	 
	 	 	Explanation. In calculation of net worth the Subscriber may
    include equity in personal property and real estate, cash, short term investments, stocks, and securities. Equity in personal property
    and real estate should be based on the fair market value of such property less debt secured by such property.
	 	 	 	 
	 	 	Notwithstanding
    the forgoing, in determining the Subscriber’s net worth:
	 	 	(i)	the
    Subscriber’s primary residence shall be excluded;
	 	 	(ii)	indebtedness
    secures! by the primary residence, up to the fair market value of the primary residence at the time of this Subscription shall be
    excluded (except if the indebtedness outstanding on the date of this Subscription exceeds the amount outstanding 60 days before such
    time, the amount of such excess shall be included as a liability); and
	 	 	(iii)	indebtedness
    secured by the primary residence in excess of the fair market value of the primary residence at the time of their Subscript on shall
    be included as a liability.
	 	 	 	 
	Category
    II

     
	 	 	The
    undersigned is an individual (not a partnership, corporation, etc.) who had an individual income in excess of $200,000 in the past
    two years, or joint income with his/her spouse in excess of $300,000 in the past two years, and has a reasonable expectation of reaching
    the same income level in the current year.

 

    	 	-2-	 

    	 

    

 

	Category
III
	 	The
    undersigned is an executive officer or director of the Company.
	 	 	 
	Category
    IV	 	The
    undersigned is a bank, as defined in section 3(a)(2) of the Securities Act of 1933, as amended, (the “Act”); or a savings
    and loan institution or other institution defined in Section 3(a)(5)(A) of the Act.
	 	 	 
	 	 	 
	 	 	 
	 	 	(describe
    entity)
	 	 	 
	Category
    V	 	The
    undersigned is an insurance company, as defined in section 2(13) of the Securities Act of 1933, as amended.
	 	 	 
	 	 	 
	 	 	 
	 	 	(describe
    entity)
	 	 	 
	Category
    VI	 	The
    undersigned is an investment company registered under the Investment Company Act of 1940 or a business development company as defined
    in section 2(a)(48) of that Act.
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	(describe
entity)
	 	 	 
	Category
VII
	 	The
                                                         undersigned is a Small Business Investment Company licensed by the U.S. Small Business Administration under section 301(c) or
                                                         (d) of the Small Business Investment Act of 1958.

	 	 	 
	 	 	 
	 	 	 
	 	 	(describe
    entity)

 

    	 	-3-	 

    	 

    

 

	Category
    VIII 	 	The
    undersigned is a broker or dealer registered pursuant to Section 15 of the Security Exchange Act of 1934 (the “Exchange Act”).
	 	 	 
	 	 	 
	 	 	 
	 	 	(describe
    entity)
	 	 	 
	Category
IX
	 	The
    undersigned is an employee benefit plan within the meaning of Title I of the Employee Retirement Income Security Act of 1974 and
    (1) the decision to invest in the security was made by a plan fiduciary, as defined in section 3(21) of such Act, which is a bank,
    savings and loan association, insurance company or registered investment adviser, or (2) the employee benefit plan has total assets
    in excess of $5,000,000, or (3) if a self-directed plan, with investment decisions made solely by persons that are accredited investors.

    

	 	 	 
	 	 	 
	 	 	 
	 	 	(describe
    entity)
	 	 	 
	Category
    X

     
	 	The
    undersigned is a private business development company as defined in section 202(a)(22) of the Investment Advisers Act of 1940
	 	 	 
	 	 	 
	 	 	 
	 	 	(describe
    entity)
	 	 	 
	Category
XI
	 	The
                                            undersigned is an organization described in section 501(c)(3) of the Internal Revenue Code,
                                            corporation, Massachusetts or similar business trust, or partnership, not formed for the
                                            specific purpose of acquiring the securities offered, with total assets in excess
                                            of $5,000,000.

	 	 	 
	 	 	 
	 	 	 
	 	 	(describe
    entity)

 

    	 	-4-	 

    	 

    

 

	Category
    XII	 	The
    undersigned is any trust, with total assets in excess of $5,000,000, not formed for the specific purpose of acquiring the securities
    offered, whose purchase is directed by a sophisticated person as described in Rule 506(b)(2)(ii) under the Act. (A COPY OF THE
    DECLARATION OF TRUST OR TRUST AGREEMENT AND A REPRESENTATION AS TO THE NET WORTH OR INCOME OF THE GRANTOR IS ENCLOSED.) 
	 	 	 
	 	 	 
	 	 	 
	 	 	(describe
    entity)
	 	 	 
	Category
    XIII

     
	 	The
    undersigned is an entity in which all of the equity owners are Accredited Investors. [IF RELYING UPON THIS CATEGORY ALONE, EACH
    EQUITY OWNER MUST COMPLETE A SEPARATE COPY OF THIS AGREEMENT.]
	 	 	 
	 	 	 
	 	 	 
	 	 	(describe
    entity)

 

	Date:
    __11/1/20_________________	 
	 	 
	Signature:__/s/
    Jim Musick___________________________	 
	 	 
	Social
    Security Number or Tax Id:_________ [***] _________	 
	 	 
	Name
    (Registered Owner of Note)_______JimMusick______	 
	 	 
	Address:_____ [***] _________________________	 

 

    	 	-5-

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